Spain
Mapfre faces more rating downgrades
Mapfre Global Risks and Mapfre Asistencia have been downgraded as a result of the weakening creditworthiness of the Spanish government, according to Moody's.
S&P drops Groupama's rating to BB
Standard & Poor's Ratings Services has lowered its long-term counterparty credit and financial strength ratings on France-based insurer Groupama SA and its guaranteed subsidiaries to 'BB' from 'BBB-'.
Mapfre signs deal with Ford Italy for insurance on second-hand vehicles
Mapfre Asistencia has signed an agreement with the Ford vehicle brand in Italy to offer road cover and assistance schemes to customers buying used vehicles.
Grupo Catalana Occidente enters motor insurance top five after Groupama swoop
Grupo Catalana Occidente and INOCSA have signed a binding purchase agreement to acquire Groupama Seguros y Reaseguros SAU, Groupama's Spanish subsidiary.
Groupama reaches agreement to sell Spanish arm
Groupama is to sell its Spanish operation to Catalana Occidente in a deal worth €404.5m (£326.3m).
Mapfre to provide assistance services for Dominicana Compañía de Seguros
Mapfre Asistencia's Dominican Republic-based subsidiary will offer an assistance scheme for motor insurance cover to customers of general insurance firm Dominicana Compañía de Seguros.
Former AGERS president Romero passes away
The Federation of European Risk Management Associations has learned with sadness of the death of Eduardo Romero, former member of the FERMA board, president of the Spanish risk management association AGERS from 1999-2003 and former risk manager of Grupo…
Coface expects lower profit margins due to Europe debt crisis
Credit insurer Coface SA has said it may post lower profit margins from underwriting as Europe's debt problems fuel higher claims.
Mapfre to supply motorcyle cover for Peugeot in Italy
Mapfre Asistencia's Italian arm has entered into an agreement with Peugeot Citröen Group to provide roadside assistance and customer services to Peugeot Scooters, the group's specialist motorcycle unit.
Moss exit and senior management shake-up keep Aviva rating under review
Aviva's financial strength rating of A (excellent) has been reviewed and maintained by AM Best Europe while remaining under review with negative implications.
Mapfre Re downgraded amid fears over future of Spanish economy
Mapfre Group’s reinsurance arm’s issuer credit rating has been downgraded by AM Best Europe following an assessment of the consolidated group’s financial strength and ongoing risks in the Eurozone.
Political risks: Economic unrest triggers interest and questions over cover
The UK, France, Germany, Italy, Portugal and Spain have all been re-rated 'medium risk' from 'low risk' by Aon Risk Solutions, as part of a downgrade of 37 countries in the firm's annual Terrorism & Political Violence map.
Grupo Catalana Occidente in exclusive negotiations for Groupama's Spanish arm
Grupo Catalana Occidente and French insurer Groupama have entered exclusive negotiations regarding the acquisition of Groupama’s Spanish operation, Groupama Seguros Sant Cugat.
View from the top: How safe is your bank?
UK financiers are battening down the hatches as they brace themselves for eurozone write-down effects, warns Andrew Holman.
Terrorism and civil unrest: Risky business
With several parts of the world engulfed by violence and civil unrest, is traditional terrorism and political risk cover increasingly irrelevant?
Taiwan insurance industry exposure to PIIGS revealed
Taiwan's insurance firms launched total investments of NT$13.9bn (£295m) in Portugal, Italy, Ireland, Greece and Spain in the first four months of the year.
Uniqa reports profits up 20% for Q1 2012
The Uniqa Group has reported profit up 20.2% in the quarter one of 2012 to €54.4m (Q1 2011: €45.2m).
Greek exit could drive further insurer downgrades
Future ratings action on Italian and Spanish insurers is more likely to be driven by the macro-economic environment and sovereign rating than the idiosyncratic credit fundamentals of a particular insurer, Fitch said today.
Euler Hermes and Mapfre enter credit joint venture
Allianz-owned credit insurer Euler Hermes and Spanish insurer Mapfre have agreed a 50/50 joint venture to develop their credit insurance business in Spain and four Latin American countries.
Euler Hermes ties up with Mapfre for Spain and Latin America push
Spanish insurer Mapfre and Allianz-owned credit insurer Euler Hermes have signed a 50/50 joint venture to develop their credit insurance business in Spain and four Latin American countries.
Top 10 news stories
The top 10 most popular articles published on insuranceinsight.com over the past seven days.
Mapfre reports rise of 11.5% in Q1 revenues
Mapfre reported revenues of €6,835m in the first quarter of 2011, citing "sustained growth of the international business" for the 11.5% rise.
Mapfre continues to grow outside Spain
Spanish insurer Mapfre has reported Q1 revenues of €6,835m, up 11.5%, thanks to sustained growth of its international business.
Q&A: Vienna Insurance Group CEO Gunter Geyer
While the economic turmoil of the Eurozone crisis and heavy catastrophe losses eroded the bottom line of many European insurers in 2011, Vienna Insurance Group enjoyed the most profitable year in the group’s history, and avoided having its A+ credit…