Italy
ISE 2012: France to suffer extreme temperatures due to global warming
Andreas Sterl, senior researcher at the Royal Netherlands meteorological Institute, has warned that France will be particularly affected by global warming.
View from the top: Learning from our neighbours
As Italy takes a step towards combating motor fraud, can the UK follow suit?
Generali profit hit by €1,017m one-off impairments
Generali posted reduced profits for the full year 2011 due to impairments from Greek write-downs and its Telco investment to the tune of €1,017m.
Willis appoints Bellone MD of European capital markets
Willis Group Holdings has named Andrea Bellone as managing director in the European team of Willis Capital Markets & Advisory, effective immediately.
Mapfre expects 6% revenue increase in 2012, as 2011 rises 3.2%
In 2011, Mapfre achieved a net result of €963m, a 3.2% rise on the 2010 full year results.
Generali sells 69.1% of Israeli Migdal for €835m
The Generali Group has agreed to sell its entire 69.1% holding in Migdal Insurance and Financial Holdings to Shlomo Eliahu, founder and controlling shareholder of the Israeli financial Group Eliahu.
Aviva Europe operating profits up 26%
Aviva Europe's general insurance and health operating profit increased by 26% to £137m for the full year 2011.
Admiral overseas losses increase to £15.1m but policycount soars to 4.1m
Admiral Group has reported that its two international operations – motor and aggregator – increased their losses to £15.1m (2010: £12.8m loss) in 2010.
Admiral COO describes 2011 as a year of two halves as profit hits £299m
Admiral has reported group profit before tax up 13% at £299m in 2011 (2010: £266m) on a turnover up 38% at £2.19bn (2010: £1.58bn).
Swiss Re targets European marine with two new teams
Swiss Re Corporate Solutions has expanded its marine insurance footprint in Continental Europe through the formation of two dedicated underwriting teams in Zurich and Genoa, which will be led by Patrizia Kern-Ferretti and Andrea Cupido, respectively.
Kiln launches into specialist property with appointment in Paris
Kiln has appointed a new underwriter in Paris to focus on a broad range of property facultative reinsurance risks across Europe.
Asian results help JLT offset difficult European trading period in 2011
Strong retail revenue growth and margins in Asia helped Jardine Lloyd Thompson offset difficult trading environments in Europe and deliver profit before tax of £147.6m for the full-year ending 31 December 2011.
Eurozone crisis biggest challenge for life insurers
Continued eurozone crisis will affect insurers in 2012, but it is difficult to quantify how severely, according to Fitch senior director Federico Faccio.
Generali reports 5.5% fall in premiums
Italy-based insurer Generali reported a 5.5% reduction in premiums for the full year 2011, despite the solid performance of the non-life segment.
Countdown to ISE: Q&A with guest speaker Kurt Karl
Kurt Karl, managing director, chief economist and head of economic research and consulting at Swiss Reinsurance, will be presenting the session on 'Recent economic challenges and risk management' at Insurance Strategy Europe in Brussels on Wednesday 21…
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.
RSA reports 58% increase in underwriting result to £375m
General insurer RSA reported a 58% increase in the underwriting result to £375m for the full year 2011, attributed partly to the successful growth of overseas operations.
Liberalising the Italian motor market
The Italian government is aiming to combat motor insurance fraud with its Decreee Cresci Italy. However, as Paolo Golinucci explains this might not be as straightforward as it seems.
Direct Line Italy selects provider for improved claims management system
Direct Line Italy is launching a claims management system to support the company's continuous growth and maintain customer satisfaction.
Moody’s takes action against insurance groups exposed to Italy and Spain
Moody's has taken action on several European insurance groups and related entities to reflect the increased financial risks stemming from their operating and investment exposure to weakened European sovereigns and banks, and the ratings agency's…
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.
Fonsai downgraded to 'BB' along with main subsidiary
Italy’s second largest motor insurer Fondaria-Sai has been downgraded from ‘B+’ to ‘BB’ along with its main subsidiary Milano Assicurazioni.
Generali could be downgraded if Italy's IDR falls any lower
A further sovereign downgrade for Italy is likely to result in a downgrade for Italian insurer Assicurazioni Generali, ratings agency Fitch has said.
Weakened capital adequacy behind Generali downgrade
Standard & Poor's has lowered its long-term counterparty credit and insurer financial strength ratings on Italy-based Assicurazioni Generali SpA and its related core entities to 'A' from 'A+'.