Europe
RSA SME boss to move to Travelers
Ken Norgrove, director of SME business and chief executive of group renewable energy at RSA, is to return to Ireland to take a role at Travelers.
Italian insurer claims number one direct spot
Genertel, the Generali Group direct non-life insurance provider, has claimed market leadership in the Italian direct channel (online and telephone) with a share of 24.6% in 2009.
Catlin raids Swiss Re for treasurer
Catlin Group has appointed Andreas Weber as group Treasurer, based in Zurich, Switzerland.
Miller bolsters Assurex relations with HSBC hire
Miller has appointed Nick Drury, a specialist in the placement of corporate multinational accounts.
World Cup 2010 "most injury exposed ever" claims Beazley
A steady and significant increase in the workload of world class football players in recent years is likely to increase the injury rate at this year’s World Cup, making the 2010 tournament “the most injury exposed in history.”
Munich Re CEO warns over risk pricing after years of low losses
The long-term trend towards ever higher natural catastrophe costs continues, according to Munich Re, which has warned of complacency over risk pricing.
Lloyd's estimates World Cup insurance coverage at £6.2bn
The football World Cup will be insured to the tune of an estimated £6.2bn when it kicks off on Friday, according to Lloyd’s.
Zurich in Asia-Pacific swoop
Zurich has signed an agreement to acquire 80% of PT Mayapada Life, a Indonesian life insurer focused on the distribution of group and individual life and health plans.
German giant linked with Quinn bid
German insurance giant Talanx has become the latest name linked with a bid for Quinn Insurance.
Captive insurers urged to participate in Solvency II
The Federation of European Risk Management Associations and the European Captive Insurance and Reinsurance Owners’ Association has urged captive insurers to participate in Solvency II.
Brokers Griffith & Armour and Miller seal international tie up
Assurex Global, the international network of independent insurance brokers, has added three new brokers to its international partnership ranks: Griffiths & Armour and Miller Insurance Services, both of the United Kingdom, and Associated Insurance…
Macquarie named as adviser for Quinn Insurance sale
The High Court has granted Quinn Insurance's administrators permission to appoint Macquarie Capital Europe to advise on the prospective sale of the group.
Groupama MD: we need to strike right balance with Solvency II
The managing director of Groupama Insurances has questioned whether the "significant distraction" of Solvency II is out of kilter with the effort needed to comply with it, and if it is just a ploy to help "fat consultants get fatter".
CNA Europe names new underwriting bosses
CNA Europe has appointed Paul Dowling and John Taylor to the newly created roles of chief underwriting offer of commercial lines and specialty lines respectively.
Hiscox: German SMEs have better insurance understanding than Brits
Less than one in three (30%) small to medium sized businesses in Europe believe they are insured in the event that a professional mistake leads to them being sued.
Torus launches professional lines cover in Europe
Speciality insurer Torus has launched a new professional lines offering in France and Germany.
Generali named as suitor for AIA
Generali may be interested in buying the AIG Asian unit, according to Italian newspaper reports.
S&P revises Aviva outlook
Standard & Poor's Ratings Services has revised its outlook on Aviva Insurance (Europe) to developing from negative.
US "elevated" up as Aon unveils 2010 Terrorism Threat Map
International counterterrorism efforts appear to be stifling the ability of terrorist groups to mount significant attacks on the scale of those of September 11, 2001, according to the 2010 Aon Terrorism Threat Map.
Rating agencies on the EC's radar as it aims to improve supervision
As part of its work on preventing a future financial crisis and strengthening the financial system, the European Commission has put forward amendments to the EU rules on credit rating agencies and launched a public consultation on reforming corporate…
Aegon raids Zurich for new UK CFO
Dutch insurer Aegon has appointed Zurich head of group audit Clare Bousfield as chief financial officer of of its UK arm.
PwC: 2010 M&A “hot beds” starting to emerge
The first quarter of 2010 has been “unremarkable” for European financial services activity but “hot beds” of activity are starting to emerge, PricewaterhouseCoopers has claimed.
Aviva appoints new Romania chief
Aviva has appointed Mihai Popescu as chief executive of Aviva Romania.
Profits dip for Allianz in growth European markets
Allianz in Central and Eastern Europe saw total premiums grow by 8 percent in the first quarter of 2010, reaching Euros 1.1 bn. Operating profit in the first quarter of 2010 amounted to Euros 66m, compared to Euros 78m euros in the same period of 2009.