Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and A J Gallagher are frontrunners for the Willis Towers Watson (WTW) business in Europe that it seems Aon will have to dispose of to gain the EC’s approval for a planned $30bn acquisition of the group, a senior industry source in Germany told Commercial Risk Europe. It is also thought that McGill and Partners, the London-based broker launched…

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies are set to jump 26% globally this year with several European countries likely to be worst hit as the fallout from Covid-19 finally impacts bankruptcies, according to Atradius. This would follow a 14% fall in insolvencies last year when governments introduced fiscal measures and bankruptcies regime changes to protect businesses from failure, said the trade credit insurer. Atradius added…

Beazley boosts cyber offering in Germany as part of European expansion

Beazley boosts cyber offering in Germany as part of European expansion

Beazley boosts cyber offering in Germany as part of European expansion

Specialist insurer Beazley has launched enhanced versions of its Beazley Breach Response (BBR) and InfoSec cyber policies for businesses domiciled in Germany. InfoSec gives large businesses access to first-party cover for cyber risks. This includes protection for cyber extortion, data recovery costs, as well as business interruption (BI) and contingent BI for losses arising from security breaches, system failures and…

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon has offered to sell Willis Towers Watson’s (WTW) entire large multinational P&C portfolio in Germany, France, Spain and the Netherlands, as well as Willis Re and the broker’s French unit Gras Savoye to gain approval from EC competition regulators, according to Reuters sources.

Allianz continues pan-European expansion plan with acquisition of Aviva Italia

Allianz continues pan-European expansion plan with acquisition of Aviva Italia

Allianz continues pan-European expansion plan with acquisition of Aviva Italia

German insurance group Allianz has signalled its intent to remain a serious player in the Italian insurance market through its €330m acquisition of UK insurer Aviva’s Italian non-life insurance operation, which adds an estimated 500 agents to its sales force in Italy. The Italian purchase was swiftly followed by a major acquisition in Poland, underlining Allianz’s intention to continue its…

Allianz considering rival bid for The Hartford

Allianz considering rival bid for The Hartford

Allianz considering rival bid for The Hartford

Allianz is thinking about making a rival bid for The Hartford after Chubb’s $23bn offer was rejected last week, according to a Bloomberg report. Citing people familiar with the matter, Bloomberg said Allianz is conducting a study into the feasibility of a counter-offer. Europe’s largest insurer is reportedly discussing its options with potential advisers and views The Hartford as one…

German insurance managers will have to ‘box clever’ with tax reform

German insurance managers will have to ‘box clever’ with tax reform

German insurance managers will have to ‘box clever’ with tax reform

It seems unlikely currently that the German tax authorities will bow to pressure from representative bodies of the entire German insurance community to amend, or at least clarify, its recently passed controversial Insurance Tax Law Reform (VersStG) to prevent German companies with insured overseas operations paying tax twice – at home and overseas. The German insurance management association (the GVNW)…

CRED: The voice of the German-speaking risk and insurance management community

CRED: The voice of the German-speaking risk and insurance management community

CRED: The voice of the German-speaking risk and insurance management community

Welcome to the first monthly issue of CRE Deutschland, the latest of our new monthly local-language newsletters for our European readers, focused on the German-speaking markets of Germany and Austria. Commercial Risk Europe was launched back in 2010 as the first truly pan-European source of news and analysis on the corporate risk management and insurance market. We worked closely with…

GVNW survey confirms reputation of industrial insurers is in tatters

GVNW survey confirms reputation of industrial insurers is in tatters

GVNW survey confirms reputation of industrial insurers is in tatters

The huge reputational damage suffered by German industrial insurers during the recent hardening market has been clearly confirmed by the latest member survey carried out by German risk and insurance management association GVNW. A shocking 85% of the 100 GVNW members who took part in the survey rated the reputation of the industrial insurers during the recent year-end renewals as…

Mahnke calls for more rational approach from insurers in 2021

Mahnke calls for more rational approach from insurers in 2021

Mahnke calls for more rational approach from insurers in 2021

Alexander Mahnke, president of the German insurance management association GVNW, has called on the corporate and industrial insurance market to take a more rational approach to renewals during 2021, after the association’s members suffered drastic shifts in strategy, spiralling prices and evaporating capacity in many lines at year-end. Mr Mahnke told CRE Deutsche in interview that German insurance managers are finding…

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