Spain
Mapfre and Genworth join forces to sell products in Latin America
Spanish insurer Mapfre is to distribute Genworth lifestyle protection insurance products in Latin America.
New member joins Ferma board
Isabel Martinez, a member of the Spanish risk management association AGERS, has joined the board of the Federation of European Risk Management Associations.
Casualty insurers warned about recent legal deveopments
A ruling on pesticide manufacturers' liability, reforms to Spanish law on directors' and officers' cover and more stringent rules for Polish motor insurers, are among recent legislative changes with implications for European casualty insurers.
Ocaso appoints Stemp as UK general manager
Spanish insurer Ocaso has named Tim Stemp as general manager of the UK arm.
Admiral's international arms report £8.9m loss in 1H 2012
Admiral's international insurance business has reported significant growth in turnover and total premiums written in the first half of 2012 to £79.7m and £74.4m respectively (H1: 2012 £53.9m and £49.5m).
Uniqa posts earnings up 43.2%
The Uniqa Group has posted first-half earnings before tax up 43.2% to €106.5m (2011: €74.4m).
Admiral to slow UK growth despite 9% rise in profit
Admiral's pre-tax profit rose to £171.8m in the first half of 2012 (H1 2011: £160.6m) having increased the number of vehicles insured by 11%, or 350 000, to 3.5 million.
Bupa posts 22% fall in US and European profit
Global health insurer Bupa posted a 5% increase in revenues to £4.1bn and a 3% increase in pre-tax profits to £255.3m for the first six months of 2012.
Società Reale Mutua di Assicurazioni's outlook negative due to weaknesses
Italian insurer Società Reale Mutua di Assicurazioni and its Spanish subsidiary Reale Seguros Generales have been issued with insurer financial strength ratings at 'BBB+' with negative outlooks.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Allianz, Generali and Munich Re dominate as European travel insurance market prospers
European markets for travel insurance and assistance continue to flourish with Allianz, Generali and Munich Re heading the market.
Willis' European growth held back by declines in Spain and Netherlands
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
Russia and Romania travel insurance markets thrive in economic crisis
Travel insurance in Russia, Romania and Turkey boomed between 2008 and 2012, despite the Eurozone crisis, while the UK and Ireland saw foreign travel decline, new research has revealed.
Willis opens super-yacht office in Barcelona
Willis Group Holdings is opening a new super-yacht insurance broking office at the prestigious MB92 shipyard in Barcelona.
Mapfre Assistance signs deal for Italian rental firm's fleet
Mapfre Assistance has signed a deal to manage the fleet of Italian car hire firm Car Server.
Mapfre result down 20% owing to Eurozone impairments
Mapfre's attributable result fell 20.1% to €434.2m in the first half of 2012 after provisions and impairments resulting from the Eurozone crisis.
Fitch affirms Generali's 'A-' IFS rating
Fitch has affirmed Assicurazioni Generali SpA's insurer financial strength rating at 'A-' and long-term issuer default rating at 'BBB+' on account of its solid operating performance. The outlook for both ratings is negative.
Half of CEOs responsible for risk management as terrorism tops concerns
The chief executive or chief operating officer has formal responsibility for risk management at 50% of European companies, according to a new survey which found that companies feel underprepared for terrorism and political violence risks.
IMD2 - a level playing field?
Legislative proposals released this month by the European Commission for the Insurance Mediation Directive have met with mixed reviews. Victor Fornasier asks whether they will finally create a level playing field.
Mapfre to create 150 jobs in Mexico in new Mapfre Tower
Mapfre chairman Antonio Huertas unveiled growth plans for Mexico in a visit to the country yesterday.
Mapfre consolidates Italian position with travel tie-up
Mapfre Assistance has signed an agreement with Intermundial company,the third biggest Spanish travel insurance group by market share, to provide a range of policies on the Italian market.
Mandatory commission – an necessary evil?
Rumors of mandatory commission disclosure have plagued the market since the start of the year but as the European Commission confirms brokers fears Francesca Nyman assesses the impact on European brokers.
MDS offers self insurance facilities with launch of PCC
European insurance and reinsurance broking and risk consulting provider, MDS Group has launched of High Dome PCC, a protected cell company (PCC) to provide alternative risk financing services including self insurance facilities, access to reinsurance…
AM Best affirms Mapfre Re ratings amid sovereign turmoil
AM Best Europe has affirmed the financial strength ratings of A (Excellent) and issuer credit rating of 'A' for Mapfre Re, following the recent market volatility surrounding Spain's economic conditions.