Europe
European risk managers join chorus of concern over Solvency II
The Federation of Europe Risk Management Associations today said that although it supports the goal of Solvency II, its members are concerned by the impact the recommendations of the Committee of European Insurance and Occupational Pensions Supervisors…
Q&A - Markel
In the latest of a regular focus on European insurance companies and brokers, Insurance Insight talks to Esteban Manzano, managing director, Markel Spain.
Insurance investigation announced by European Commission
Michel Barnier has announced an in-depth examination of insurance against natural catastrophes.
Allianz sees GI go backwards in Germany
Premium income in property and casualty insurance slipped 1.2 percent, to EUR 9.2bn (EUR 9.3 bn), with prices under pressure all across the market, especially in motor insurance.
Italian insurer records rise in GI premiums
However, Vittoria Assicurazioni reported a net Profit attributable to parent company shareholders of € 16.9m in 2009, a drop of -16.1%.
Renaissance Re, Everest Re deliver loss estimates
Bermudian reinsurers Everest Re and Renaissance Re have said that they will be hit by losses from the Chilean earthquake earlier in March.
RSA swoops for marine business
RSA's Danish subsidiary Codan Forsikring A/S has acquired the renewal rights to TrygVesta's marine hull portfolio for DKK 50m (£6m) in cash.
Baugh to head up European operation in Chartis shake-up
James Shea, currently regional president for Chartis Central Europe & Commonwealth of Independent States, will become managing director of Chartis UK.
Hannover Re posts substantial profit growth
Hannover Re closed 2009 by generating an operating profit in excess of one billion euros for the first time.
RMS predicts insured losses from Xynthia could rise to €2bn
Risk Management Solutions has estimated that private market insured wind losses from Windstorm Xynthia will fall between €1.0bn and €2.0bn.
Mutual body blasts solvency II plans
"If the principle of proportionality introduced by Solvency II does not work in practice, we are likely to see aggressive market consolidation," claims AMICE boss.
CEA: still time to get Solvency II right despite fears over Ceiops
A new CEA report demonstrates that overly prudent capital requirements would restrict the insurance industry's role not only as a risk-absorber but also as an institutional investor financing long-term economic growth.
Munich Re boss confident of €2bn profit in 2010 despite early losses
Gross premiums written rose by 9.5% to €41.4bn (€37.8bn). But if exchange rates had remained the same, premium volume would have increased by 9.9% compared with the previous year.
Swiss Re gives quake and Xynthia loss estimates
Reinsurer claims losses for the European winter storm to be approximately $100m.
Fortis international GI arm COR worsens to 107.8% in 2009
The group recorded an overall net profit EUR 456m, although its non life business net profit of EUR 74m, was negatively impacted by higher claims in Belgium and the UK.
Fortis Insurance to be rebranded "Ageas"
In a statemement it added: "This change of identity is a logical next step in our evolution from bancassurer to international insurance company. Our new name confirms our rebirth as a new company, but one that will benefit from past experience and the…
CED International acquires Interiura
CED International has swooped for international claims handling network Interiura, from parent company Arag.
Glacier reports $34m growth in net income
Glacier has reported net income for 2009 up to $60m and a total gross written premium decline pf 17% from 2008.
Liberty raids Marsh for Hogg to lead strategic assets arm
The arm aims to develop and underwrite a range of specialist risks including intellectual property, reputational risks, cyber insurances and non-material damage business interruption.
Axa moves to expand Asian GI business
Its Malaysian subsidiary, Axa Affin General Insurance Berhad has received the approval from Bank Negara Malaysia, to acquire 80% of BH Insurance Berhad from Boustead Holdings Berhad and 20% from Felda Marketing Services Sdn Bhd.
QBE restructures European business
With immediate effect, QBE will operate four product underwriting divisions: casualty & motor; property; marine & energy; and reinsurance & specialist.
RMS: detailed damage reports following Turkish earthquake still scarce
The Unites States Geological Survey has reported a fixed focal depth of 6.2 miles (10 km) and an epicentral location close to the village of Basyurt, 340 miles (550 km) east of the Turkish capital, Ankara.
Lloyd’s partners with QuIC for Solvency II preparations
Specialist insurance market Lloyd’s has selected QuIC Financial Technologies to aid its preparations for Solvency II.
AIG to sell non-US life unit to MetLife
AIG’s board of directors approved the sale of the division to MetLife on March 5th, according to newswire Bloomberg.