Germany
More pragmatic solution for Solvency II needed, says L&G chief
The head of UK insurer Legal & General has lambasted proposed Solvency II measures, saying they are unlikely to work in their current form and may need to be redrawn, Reuters reported.
Munich Re Foundation report highlights 200% rise in microinsurance
A new study of African microinsurance markets, published by Making Finance Work For Africa and Munich Re Foundation, found that the number of low-income households benefiting from insurance services has grown by over 200% in three years to more than 44…
Allianz raises profit expectations for 2012
Allianz has raised its 2012 full-year operating profit expectations to over €9bn, assuming a normal business development during the rest of the year.
Axa reports P&C growth in Turkey, Mexico and Gulf with Q3 results
Axa Group has reported total revenues up 1% to €68.4bn for the first nine months of 2012.
European financial services firms struggling to create paperless offices
A new study ahead of World Paper Free Day on 25 October suggests that the paperless office remains beyond the reach of many European firms.
European insurers still not transparent on exec pay and tax havens, claims report
Analysis of 31 European banks and insurance companies in four areas of corporate social responsibility has found that nearly 50 points separate the best and worst scores.
E+S Rück predicts stable prices for German renewals
E+S Rück, the Hannover Re Group company responsible for German domestic business, anticipates stable or rising prices in the market for the upcoming treaty renewals on 1 January.
German broker Unison hires Toben for linked business in Chicago
Hamburg-headquartered Unison Brokers has appointed Heidrun Toben as associate director for European linked business to work in its Chicago office.
Allianz recruits Liberty Mutual financial lines underwriter
Allianz Global Corporate & Specialty has appointed Elke Vagenende as head of product development, financial lines (UK).
Generali rejigs business structure
Italian insurer Generali has overhauled its business structure in a bid to ensure the group is managed "in a more integrated way".
Q&A: Zurich's Steve Green
Regulation, compliance and a difficult trading environment are posing problems for insurance companies in Europe, but the region still has huge potential. Steve Green, middle market network leader at Zurich, explains how to grasp the opportunities for…
Nearly half of insurers won't be Solvency II ready by 2014
While 57% of insurers across Europe think they are on track to comply with Solvency II by January 2014, readiness varies significantly by country, according to Ernst & Young.
BrokersLink adds 13 new members
BrokersLink today announced the addition of 13 new members at its fourth annual conference in Madrid.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
JLT Re makes additions to CEE team
JLT Re has expanded its team serving Central and Eastern Europe with the addition of Sergey Grazhdankin and Edmond Wodehouse as partners.
Allianz subordinated bond assigned A2 rating by Moody's
Moody's has assigned an A2(hyb) rating to the 30-year €1.5bn subordinated bond to be issued by Allianz SE.
Generali Deutschland implements automated ERM platform for compliance
Generali Deutschland is using an automated workflow enterprise risk management solution for reporting and compliance activities.
Ergo to cut 600 jobs over three years
German insurer Ergo Versicherungsgruppe, a unit of reinsurer Munich Re AG, will cut 200 back-office positions every year for the next three years.
HDI-Gerling takes 26% stake in Indian Magma ready for FDI increase
German insurance company HDI-Gerling has paid four times premium on Rs26 crore for its 26% stake in Indian firm Magma HDI General Insurance Co with a commitment of raising the holding to 49% when the government allows it.
German non-life insurers' focus on rates improves profitability
The German non-life insurance market has proved to be resilient, seeing growth in 2011 and a robust 2012.
Interest rates threaten German insurers' financial strength
Low investment yields owing to persistent low interest rates are putting the financial strength of German insurers in jeopardy, Standard & Poor's said today.
TomTom strikes partnership with Zurich
Zurich Germany has chosen TomTom fleet management to provide telematics capability for its fleet intelligence product.
Blog: Talanx IPO - Doing the double
When Talanx chief executive Herbert Haas announced his firm's initial public offering U-turn last week, there was reason to suspect he might be growing dizzy.
Munich Re chief laments China's poor rate of quake cover
Nikolaus Von Bomhard has implored China to create a public-private partnership to provide earthquake protection for businesses and citizens in the country.