European Union (EU)
RBS dismisses links between stock sale and timing of upcoming Esure float
The second tranche of Direct Line Group shares may have been rushed to market in order to get ahead of the float by Esure, according to analysts.
Austrian lawyer annointed as Van Hulle successor
The European Commission has appointed Klaus Wiedner to replace Karel Van Hulle as head of unit dealing with pensions and insurance in the Internal Market Directorate General.
Regulatory convergence not necessarily 'better' for insurance industry
Attempts to harmonise global insurance regulations are “more aspirational than realistic”, according to DLA Piper’s Bill Marcoux.
Improving Underwriting: Driving Profits
Can a more sophisticated approach to underwriting help motor insurers finally turn a profit?
Indian refiners to halt Iranian oil imports
India’s oil refiners may cease crude imports from Iran next month as a result of their inability to access cover due to Western sanctions, the head of its largest refiner has said.
International: Are you protected?
A pan-European data protection regulation may enhance transparency and accountability, but could inadvertently hamper insurance activities, harming companies and policyholders.
Analysts cast doubt on Co-op’s ability to sell off general insurance business
The Co-operative Bank may struggle to offload its general insurance business as part of a bid to make up a capital shortfall that is expected to result from a market-wide investigation of banks by the Financial Services Authority.
Insurer Arrow visits up 38% in 2012
Intensive regulatory inspections of insurers increased 38% last year according to figures from law firm Reynolds Porter Chamberlain.
Data Protection: Regulation frustration
A pan-European data protection regulation may enhance transparency and accountability, but could inadvertently hamper insurance activities, harming companies and policyholders.
View from the Top: Better together
Co-operation in the pursuit of common goals will make us all stronger, says Nicolas Aubert, managing director, AIG UK.
Insurance Europe slams financial transaction tax
The draft directive for a financial transaction tax in eleven EU states will have a negative effect on insurers, their customers and the EU economy, according to trade body Insurance Europe.
Coface restructure brings European branches under control of French regulator
French credit insurer Coface said today it had simplified and streamlined its European credit insurance activities in preparation for incoming Solvency II regulations.
"On request" system better for GI says Bernardino
A shift towards mandatory commission disclosure for Europe’s general insurance intermediaries is unnecessary, according to the head of the European Insurance and Occupational Pensions Authority.
Editor's comment: Bowing out from Brussels
Complaining about the influence of the European Union on British affairs is almost as much a talking point as the weather in the UK, but insurers have fair grounds. Since Solvency II was first proposed, many in the UK insurance industry believe the…
UK regulator committed to risk-based regulation regardless of EU status
Plans to implement Solvency II will not be derailed by the Prime Minister’s pledge to hold a referendum on European Union membership if he is re-elected at the next general election.
Challenges and opportunities abound in 2013
Against the backdrop of a challenging economic climate and continued uncertainty over both the timescales for implementation of European regulation and varied national approaches to the adoption of it, European insurers face a number of critical…
EMEA commercial market to remain stable in 2013
The insurance market across Europe, the Middle East and Africa is expected to remain broadly stable in 2013, according to Marsh's Insurance Market Report 2013.
Pan-European insurance contract law a 'logistical minefield'
The principles behind a pan-European insurance contract law are sound, but any attempt to implement such a framework would be a logistical minefield, according to industry insiders.
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Impact study likely to cause further SII delay
The implementation of Solvency II faces further delay due to the launch a long-term guarantees assessment impact study by the European Insurance and Occupational Pensions Authority, KPMG has warned.
P&C insurers better placed than life firms to weather economic storm
Property and casualty insurers are better positioned to withstand a slow growth environment compared to life insurers, which will be more impacted by the weak global economy given they are mainly "discretionary" purchases and the low interest rates,…
Eiopa launches LTGA consultation
The European Insurance and Occupational Pensions Authority launched today a technical assessment of the long-term guarantee package agreed by the European Parliament, the Council of the EU and the European Commission in the context of the Omnibus II…
Biba welcomes Cameron referendum promise
The British Insurance Brokers' Association has backed a guarantee from Prime Minister David Cameron to hold an 'in/out' referendum on the European Union by the end of 2017.