Europe
Swiss Re evolves Cargo Cat Sim tool into marine
Swiss Re is to develop its Cargo Cat Sim tool for use across its marine book of business.
Irish regulator fines insurance firms
The Financial Regulator has fined two Dublin-based insurance businesses €26 600 in relation to a breach of regulatory requirements.
Trade credit rates fall as capacity grows
New insurance capacity, increased insurer competition and improved risk management have led to positive developments for buyers of trade credit insurance across most of Europe, according to Marsh.
Fitch assigns German DEVK Insurance Group 'A+' rating
Fitch Ratings has assigned the mutual Germany-based DEVK insurance group's seven main entities insurer financial strength ratings of 'A+' with stable outlooks.
BIS countdown - outsourcing innovation: Major makeover
As growth demands surpass in-house capabilities, Jeremy Owenson looks at how modern day outsourcing can more easily produce mutually beneficial solutions.
Council of the European Union endorse agreement
The Council endorsed an agreement with the European Parliament on a reform of the EU framework for financial supervision.
Novae expands reinsurance operation
Switzerland-based Novae Re is to add credit & surety reinsurance to its underwriting capabilities.
Football clubs urged to take cover
European football clubs' representantive body has called for national teams to ensure they have an insurance policy in place to address the costs arising from players'injuries.
Reinsurance price war predicted
The credit outlook on the reinsurance industry remains negative, according to Moody’s.
Scor presents its strategic plan for 2010-2013
Scor’s board of directors has approved, acting on the proposal of the management team, its new strategic plan covering the period 2010-2013,“Strong Momentum."
Ex-Gallagher CIO joins XL
XL Insurance has appointed Terry McGinness as chief information officer for its international property & casualty as well as global specialty business units, based in London.
Former AIG boss Sullivan joins Willis
Former AIG chief executive Martin Sullivan has been appointed deputy chairman of Willis Group Holdings and chairman and CEO of a new business unit, Willis Global Solutions.
City law firm launches free online regulatory service
CMS Cameron McKenna has launched RegZone – a free-to-view service for anyone interested in the way financial institutions are regulated.
Hannover Re issues hybrid bond
Hannover Re has today successfully placed a €500m subordinated bond on the European capital market via its subsidiary Hannover Finance (Luxembourg).
Canopius announces promotions
Canopius has announced two promotions in its treaty reinsurance division.
Reinsurer shareholders' funds grow by 12%
Reinsurer shareholders’ funds have grown by 12% to stand at $235bn, according to the Aon Benfield Aggregate report.
German and UK customers value personalised service
UK and German consumers are likely to show much greater loyalty to insurance providers that demonstrate they know who their customers are and can refer to all aspects of the client's history during any transaction.
Aon Benfield set to launch app
Aon Benfield has announced the launch of an application for its proprietary facultative placement platform, FAConnect.
Insurance sector calls for environmental action
Four insurance climate change initiatives have today launched a global insurance industry statement on adapting to climate change in developing countries.
IUA: businesses “dangerously exposed” to new environmental laws
Businesses relying on traditional public liability policies to insure against environmental risks may be “dangerously exposed” to new laws designed to make polluters pay for damage, according to the International Underwriting Association.
French tax proposals have negative implications, says Moody's
Proposed changes to the tax rates on French life products might provoke short-term switches to other insurance products, which would have negative credit implications for life insurers, according to Moody’s.
CNA ties up RSA deal to give it access to 142 countries
CNA has entered into an agreement that provides its US-based corporations with access to RSA's global network.
Insurance Insight Interview – Tara Kneafsey
Latvia’s insurance market is young and has been hit hard by the global recession, Tara Kneafsey, CEO of RSA Latvia, Balta, talks to Stephanie Denton about how the market has been able to innovate and how holding rates will be crucial to future survival.
Allianz releases cycle theft figures for 80 cities
Allianz figures on bicycle theft in around 80 German cities with a population of more than 100 000 shows that bikes are sought-after stolen goods, but thieves seem to have a strong preference for some cities over others.