XL Catlin appoints German manager

XL Catlin appoints German manager

XL Catlin appoints German manager

XL Catlin has appointed Dr Thomas Götting as country manager for Germany. Dr Götting will take up the role at the beginning of 2018, following the retirement of Dieter Goebbels. Dr Götting joins XL Catlin from Coface where he was a member of the management board, northern Europe region, and regional commercial director. Based in Cologne, Dr Götting will report…

AGCS posts small Q3 loss

AGCS posts small Q3 loss

AGCS posts small Q3 loss

Allianz has reported a 17% drop in third-quarter operating profit to €2.5bn, as the German group’s large corporate unit – Allianz Global Corporate & Specialty (AGCS) – slid into the red after it bore the brunt of catastrophe losses. Allianz said despite the cat losses, the group is still on track to hit its full-year earnings and P&C combined ratio targets. AGCS saw its…

Motor vehicle recalls set for record year in Europe

Motor vehicle recalls set for record year in Europe

Motor vehicle recalls set for record year in Europe

Motor vehicle recalls in Europe increased by 11% in the third quarter of this year to 114, according to RAPEX figures, making it the second highest period in RAPEX history. Some 59% of the recalls were for passenger vehicles, the numbers highlighted in Stericycle Expert Solutions’ European Recall and Notification Index show. Motor recalls in the third quarter take the…

Allianz Worldwide Care announces company rebrand

Allianz Worldwide Care announces company rebrand

Allianz Worldwide Care announces company rebrand

Allianz Worldwide Care has changed its name to Allianz Partners and its international health and life insurance products and services are now being promoted under the Allianz Care product brand. As the international health and life specialists at Allianz Partners, they will continue to provide health insurance and services to the staff of multinational organisations, as well as private individuals…

German insurers face €250m bill from Storm Herwart

German insurers face €250m bill from Storm Herwart

German insurers face €250m bill from Storm Herwart

Storm Herwart, which struck over the weekend, is expected to add up to €250m of losses to a growing catastrophe bill for German insurers this year, according to actuarial firm Meyerthole Siems Kohlruss (MSK). It believes that losses from Storm Herwart – which brought heavy winds, rainfall and storm surges –are likely to fall on primary carriers and not trigger…

Beazley starts financial lines rollout in Spain

Beazley starts financial lines rollout in Spain

Beazley starts financial lines rollout in Spain

Beazley has launched a new set of financial lines insurance products in the Spanish market for its commercial and financial institution clients. Beazley said the new products will be rolled out to other European markets – including Germany, France and Italy – during the next few months as it seeks to grow specialty lines outside the US. The new suite…

Profitable growth possible in tough market as Generali Global Corporate & Commercial

Profitable growth possible in tough market as Generali Global Corporate & Commercial

Profitable growth possible in tough market as Generali Global Corporate & Commercial

Hard work, careful selection of quality clients and resolutely charging the right price for risk are the three core principles insurers must adhere to in today’s highly competitive insurance market, according to Paolo Ribotta, head of Generali Global Corporate & Commercial (GC&C), the corporate insurance arm of the Italian insurance giant. Overall costs also have to be tightly managed and…

Beazley steps up European expansion plan through new Dublin base

Beazley steps up European expansion plan through new Dublin base

Beazley steps up European expansion plan through new Dublin base

Beazley, the Lloyd’s-based international specialty insurance and reinsurance group, has underwritten the first policy through its new Dublin-based insurance company as it forges ahead with European expansion. The company said its new Irish operation was not created solely in reaction to Brexit. The Dublin company is the launch pad for Beazley’s ambitious European expansion plans. Beazley Insurance dac was formed…

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