Switzerland
New year European windstorm damage estimated at €267m
Perils has today disclosed an initial loss estimate for windstorm Andrea, which occurred in Western Europe from 4-5 January 2012, of €267m.
Torus recruits XL underwriting manager
Specialty insurer, Torus, has appointed former XL property underwriting manager Gilles Rousseau as a senior underwriter for its general property division.
Zurich applauds request for global compliance database
Zurich has applauded Airmic's and FERMA's focus on increasing the clarity of international insurance requirements.
Perils estimates €300m windstorm Joachim loss
Independent Zurich-based firm, Perils, today disclosed an initial loss estimate of €300m for windstorm Joachim, which occurred in Western Europe from 15-17 December 2011.
A sustainable future?
Solar powered cities and hydrogen run transport systems might be close to reality than people realise. Christian Müller explains why insurers have an integral role to play in this world and must be at the forefront of embracing innovation.
Portugal, Spain and Turkey lead the way in European banassurance
Banks are most important distributors of insurance in Portugal, Spain and Turkey, according to recent research.
Paul Napier hires Cross for world push
Lloyd’s Broker Paul Napier has taken on Edward Cross as divisional director responsible for the development, distribution and marketing of commercial, professional and financial lines worldwide.
Helvetia Switzerland concludes sale of health and accident portfolio
Helvetia Switzerland has concluded the sale of its health and accident portfolio.
Zurich launches competition to redesign its headquarters
Zurich Financial Services Group has launched a competition for architects to redevelop its global headquarters in Zurich.
Swiss Re rating upgraded due to "limited" exposure to eurozone debt
AM Best has upgraded the financial strength rating (FSR) to A+ (Superior) from A (Excellent) and issuer credit ratings (ICR) to “aa-” from “a+” of Swiss Re and its subsidiaries.
Swiss Re reports on 'promising' future for emerging markets
Swiss Re’s latest sigma report claims insurance in emerging markets has experienced strong growth over the past decade and the outlook for the next decade remains promising.
Swiss Re chief announces early retirement
Swiss Re’s chief executive officer Stefan Lippe is to step down in 2012, bringing his tenure as the head of the reinsurer to a premature end.
Nationale Suisse rated at 'A-'
Schweizerische National-Versicherungs-Gesellschaft AG has achieved a financial strength rating of A- (Excellent) and issuer credit rating of "a-".
Swiss Re announces delisting of outstanding shares
Swiss Re has announced the delisting and squeeze out of outstanding shares in Swiss Reinsurance Company Ltd.
Torus adds senior members to European P&C team
Insurer Torus has made two senior appointments with the aim of strengthening its European property and casualty platform.
Torus completes double underwriting recruitment coup
Global insurer Torus has bolstered its European offering following the appointment Brian Byrnes as senior underwriter for property and Marco Sonntag as senior underwriter for casualty.
Zurich names group treasurer
Zurich Financial Services Group has appointed Colm Holmes as group treasurer, with immediate effect.
Interview - Duncan Spencer: Calling the shots
Mobile phone insurance has been branded ‘useless’ by some and touted as the next potential mis-selling scandal, but Duncan Spencer believes there is a growing need for the product.
Helvetia Insurance Switzerland finally integrates Alba and Phenix
One year after takeover, Helvetia Switzerland is finalising the legal merger with its subsidiaries Alba and Phenix as announced on 1 November 2010.
The challenge of life sciences
Mid-sized life sciences firms offer an attractive opportunity for insurers in Europe with many entering the market. Yet as Francesca Nyman reports litigation and legislation make this a challenging market too.
Strong US ties help rate Axa's entities as 'AA-'
Axa has had all its entities' insurer financial strength ratings affirmed at 'AA-' by Fitch Ratings.
Financial market volatility hits Swiss Re’s core combined ratio
Swiss Re saw the combined ratio for its property and casualty segment increase to 80.8% for the third quarter of 2011 due largely to financial market volatility.
US expected to achieve Solvency II equivalence
The US solvency regime for insurers is expected to achieve equivalence with the European Union's Solvency II requirements according to Fitch Ratings.
Japanese, Swiss and Bermudian regimes largely equivalent to Solvency II, says Eiopa
The supervisory systems operating in Switzerland, Bermuda and Japan are largely equivalent to Solvency II, but not for all classes, according to the European Insurance and Occupational Pensions Authority.