Germany
Allianz revenues down 2.7% to €103.6bn
German general insurer Allianz reported a 2.7% reduction in revenues for the full year 2011, down to €103.6bn from €106.5bn in 2010.
Cigna relocates Europe HQ to London
Insurer Cigna is relocating the European headquarters of its international health, life and accident business from Madrid to London in a bid to be closer to its largest revenue stream.
Perils expects €267m losses from Windstorm Andrea
Independent Zurich-based firm Perils has disclosed its initial loss estimate for windstorm Andrea as €267m.
View from the Top: Maritime trade, empires and insurance in Holland and the UK
The 17th century saw the Dutch and the English competing for control over the seas and trade routes, which both countries rightly saw as fundamental to their economic and political standing.
Axa Germany appoints CEO
Axa has named Thomas Buberl as chief executive officer of Axa Germany, subject to approval by regulatory authorities.
Zurich sees 19% drop in GI profits after US$1bn cat losses in 2011
Zurich recorded a general insurance business operating profit of US$2.3bn in 2011, a decrease of US$403m or by 15% in US dollar terms and 19% on a local currency basis.
New year European windstorm damage estimated at €267m
Perils has today disclosed an initial loss estimate for windstorm Andrea, which occurred in Western Europe from 4-5 January 2012, of €267m.
To ‘E’ or not to ‘E’ – that is the question?
As the European insurance industry slowly starts to emulate the UK and adopt e-trading, Simon Ronaldson asks how European insurers can learn from the experience of their more mature counterparts.
Munich Re reports €0.71bn profit despite major losses
Munich Re reported a profit of €0.71bn for 2011, despite major losses and against the backdrop of the Eurozone crisis.
Biometrics organisation wants to found Europe-wide network
The "European Association for Biometrics” wants to found a Europe-wide network to bring together industry, regulators and user groups.
Perils estimates €300m windstorm Joachim loss
Independent Zurich-based firm, Perils, today disclosed an initial loss estimate of €300m for windstorm Joachim, which occurred in Western Europe from 15-17 December 2011.
Reinsurance - January renewals: Toughen up
Despite the catastrophes of 2011, the predicted — and much needed — January renewal rate hardening has failed to materialise.
Hannover Re expects double-digit million euro loss from Concordia
Hannover Re’s total loss from the stricken Costa Concordia could be in the mid-double-digit million euro range, according to the firm.
Markel enters German market through joint Anglo venture
Markel International has signed a joint venture agreement with Anglo Underwriting and moved into Germany.
Markel enters Germany with Anglo buy
Markel International has taken a 50% stake in Munich-based Anglo Underwriting with an option to acquire the remaining 50% by 2017.
Talanx and KBC reach €770m agreement on Warta
KBC group has reached an agreement with Talanx International AG for the sale of 100% of the shares of KBC's Polish insurance subsidiary TUiR Warta for a total consideration of €770m.
Cost of Eurozone split is strong incentive to stay together
The disintegration of the Eurozone would be highly damaging both for countries that left and countries that remained in the union, according to an Altradius report.
Government must pass whiplash legislation quickly claim insurers
Insurers have backed calls for legislation, if something is to be done quickly about spiralling whiplash claims in the UK.
Portugal, Spain and Turkey lead the way in European banassurance
Banks are most important distributors of insurance in Portugal, Spain and Turkey, according to recent research.
Firms underestimate cyber risk, according to Allianz survey
Economic risks, business interruption and destructive natural catastrophes are among the biggest risks to companies in 2012, according to a study conducted by Alianz Global Corporate & Specialty.
Elite opens offices in France and Italy
Specialist legal and after-the-event insurer Elite is expanding its footprint in Europe by opening two new offices.
XL names former Marsh exec country manager for Germany
XL Group has appointed Michael Harth as country manager for Germany, with effect from the 16 April 2012.
Clustering seen as Windstorm Andrea follows hot on Ulli's heels
Windstorm Andrea passed through the UK earlier last week, fast on the heels of Windstorm Ulli, which brought widespread travel and power disruptions to Scotland.
Axa raises €2.5bn to invest in the European property market
French insurer Axa will invest up to €2.5bn in the development of green and brownfield sites and existing properties which require extensive redevelopment across the continent, to exploit the gap left by banks in the property lending market.