Europe
Ace outlines $125m cat losses from first quarter
Ace has announced its estimated net after-tax losses in the first quarter from natural catastrophes will be approximately $125m, including reinstatement premiums.
FM Global reports gross premium increase for 2009
Business property insurers FM Global has announced gross premium in force of $4.7bn (£3.0bn) as part of its end of year results for 2009 – an increase of more than 5% year-on-year.
Aviva enters Indonesian market
Insurer acquires a 60% stake in PT Asuransi Winterthur Life Indonesia.
ABI director general slams ‘extremely conservative’ CEIOPS' Solvency II approach
New Association of British Insurers director general Kerrie Kelly has criticised the Committee of European Insurance and Occupational Pensions Supervisors for its approach to Solvency II.
XL faces $230m losses from Chilean quake and European windstorm
XL Capital has announced preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia.
New Novae Re offices open in Zurich
Novae Group has opened its new offices in Zurich, as it hopes to capitalise on what they say is the increasingly important European reinsurance marketplace.
UK and Norway form RM alliance
The Norwegian Risk Management Association and the Institute of Risk Management have announced an agreement whereby NORIMA will promote IRM’s qualifications to its members at a preferred partner rate.
FSA targets Solvency II and PPI in business plan
The Fiancial Services Authority will focus on Solvency II preparation and the conduct of payment protection insurance providers in its 2010/11 business plan.
Belgian insurer signs deal to help achieve solvency II compliance
Belgian insurance company Mercator has taken Barrie & Hibbert's Economic Scenario Generator. The main application of the ESG will be economic capital management and assistance in ALM decisions.
PZU settlement and Polish exit adds €1.1bn to Eureko bottom line
Gross written premiums increased slightly over 2009 by 2% to €19.6bn against €19.3bn in 2008.
Aegis London outlines plans for Prague
The group will be holding its third annual European Energy Conference at the Inter Continental Praha hotel in Prague from the 14-15 April, 2010.
Ceiops stress test highlights industry resolve in the face of crises
Ceiops has declared that in an adverse scenario, which mirrored the development of capital markets between the end of September 2008 and the end of September 2009, its recent exercise resulted only in a marginal impact of a loss of 10bn euro,…
LIU Europe expands into Birmingham
Liberty International Underwriters Europe has expanded its regional operation into Birmingham with the appointment of Dave Canning as regional senior underwriter.
Hiscox faces £100m Cat losses
Hiscox has estimated that it faces £100m worth of claims as a result of the Chilean earthquake and the European windstorm Xynthia.
Spotlight on Spain - The Spanish direct insurance market
At its traditionalist heart, the insurance industry has always existed on the tried and tested intermediary-based distribution channel, with the broker or agent, a champion of the policyholder, working tirelessly to find the consumer the best deal.
Interview: Lovells' Joaquin Ruiz Echauri
Santander's swoops for Abbey, Alliance & Leicester and Bradford & Bingley have seen the Spanish financial services giant rapidly become synonymous with savings - not to mention Lewis Hamilton - in the UK and a household name. Alongside the continued…
Axa to appeal Air France victim payout
It follows the decision by a Rio civil court judge for it to pay $1.16m compensation for the death of the Rio state attorney-general.
Scor outlines expected losses from first quarter quakes and windstorm
Based on preliminary estimates, The French reinsurer expects its related costs to the Chilean earthquake to amount to approximately EUR95m net pre-tax.
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.