Cyprus
Gibraltar-based Prometheus Insurance enters administration
Gibraltar-based Prometheus Insurance Company, formerly trading as Tradewise Insurance Company, has entered administration.
Tradewise Insurance Company goes into run-off
Gibraltar-based motor insurer Tradewise Insurance Company is going into run-off and will stop writing business after 31 December.
80% of EU countries expect increased claims under GDPR
80% of EU jurisdictions expect compensation claims for data protection breaches to increase under the General Data Protection Regulation.
Cypriot insurers still suffering following bank bail-outs
The Cypriot insurance market has failed to rebound following the financial crisis despite the bail-out of both of the country’s major banks, according to a report published by Axco Insurance Information Services.
Bahrain-based Trust Re bolsters capital as it seeks new growth opportunities
Trust Re announced today an increase in its paid up capital, from US$ 100m to US$ 140m, and an increase in its authorised capital to US$200m.
Spain protests innocence as more countries refuse EHIC
European hospitals accused of trying to profit from insurers
Top 5 European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Insurers not spared Cyprus haircut
Cypriot insurance companies will be affected by a bail-in on deposits, contrary to previous reports.
Eurozone insurers must be alert to possible interest rate rises says E&Y
The collective pain for the financial services sector in the Eurozone is almost over, although the recent Cypriot debt-crisis is a reminder of the fragility of the economic recovery, according to Ernst & Young.
Time to address International PMI fraud
As European Union members get closer to introducing the Directive on patient mobility Edmund Tirbutt asks how private medical insurers are tackling fraud in health care.
European countries fare poorly in Coface's country risk assessment
Credit insurer Coface reduced its risk assessments for four European countries in its latest country risk assessment review.
Insurance Insight Update - 11 November
Insurance Insight’s weekly update is live with an article the biggest man-made disaster in Cypriot history; and a blog on why more education is needed in the Middle East.
The Cypriot fall out from Vassiliko
In July Cyprus saw its largest insurance loss caused by man and despite doubts as to its quality the insurance industry stood tall according to Konstantinos Dekatris.
Average strength of companies deteriorates in Europe
Trade credit insurer Coface has reduced its 2011 forecasts for much of Europe following a deterioration of the average strength of companies.
Coface downgrades forecasts
Trade credit insurer Coface has downgraded its forecasts for the US and much of Europe claiming financial market volatility “has spread to the real economy”.
AIR updates European wind and earthquake CAT models
Catastrophe risk modeling firm AIR Worldwide has released updates to its Extratropical Cyclone and Earthquake Models for Europe.
Compensation harmonisation across the EU
The European Union has a raft of measures to try and achieve harmonisation between member states but as Sarah Hamilton reports there is a long way to go in achieving a single compensation system.
Coface downgrades Greece and Cyprus
Despite a slowdown compared with 2010, Coface is expecting the steady pace of growth of emerging countries to continue, forecasting their economies to grow at 5.7%, in 2011.
Coface downgrades Greece and Cyprus
Despite a slowdown compared with 2010, Coface is expecting the steady pace of growth of emerging countries to continue, forecasting their economies to grow at 5.7%, in 2011.
Pru Health adopts new ‘sustainable’ commission model
Pru Health has adopted what the health insurer believes to be a more sustainable and transparent commission model. From April, all small and medium enterprise new business has been written on a 10:10 commission basis, with 10% initial commission and 10%…
Aon Benfield launches earthquake model for Cyprus
Aon Benfield has launched an earthquake model for Cyprus, as insurers seek to increase their understanding of seismic risk in the region.