GDPR has created regulatory patchwork in Europe: Beazley

GDPR has created regulatory patchwork in Europe: Beazley

GDPR has created regulatory patchwork in Europe: Beazley

Europe’s data protection regulators have shown wide differences in General Data Protection Regulation (GDPR) fines and been inconsistent in dealing with cyber incidents, according to analysis from Beazley. In its latest Breach Insights article, Beazley says there has been little consistency so far even though the same rules apply across Europe. Beazley notes that although GDPR regulatory activity has picked up,…

Coronavirus spikes in Europe as Italy places northern towns on lockdown and global pandemic fears mount

Coronavirus spikes in Europe as Italy places northern towns on lockdown and global pandemic fears mount

Coronavirus spikes in Europe as Italy places northern towns on lockdown and global pandemic fears mount

The impact of Covid-19 hit Europe hard over the weekend, as the Italian government in particular took drastic action to try and halt a fast-rising number of cases in the country. The Italian authorities placed several northern towns on lockdown as there were reports of up to 150 cases in the country by Sunday evening, up from the World Health…

Zurich’s P&C profits jump 38% as hardening market helps it successfully execute three-year turnaround plan

Zurich’s P&C profits jump 38% as hardening market helps it successfully execute three-year turnaround plan

Zurich’s P&C profits jump 38% as hardening market helps it successfully execute three-year turnaround plan

Zurich’s P&C operating profit jumped 38% to $2.88bn in 2019 with its combined ratio improving 1.4 percentage points to 96.4%, as price increases rose throughout the year. This helped the insurer exceed its three-year targets put in place to turn fortunes around and saw group operating profit rise by 16% last year to $5.3bn. Zurich’s P&C business saw gross written…

All eyes on 1 April renewals following year-end hardening

All eyes on 1 April renewals following year-end hardening

All eyes on 1 April renewals following year-end hardening

Year-end insurance renewals were challenging for many European buyers as the market hardening accelerated in the last few weeks of 2019, according to brokers and leading risk managers. Tough conditions are expected to continue through 2020, but there is hope that things will begin to settle down and the rate of change will slow. Latest figures from Marsh show that…

M&A insurance take-up resilient despite fall in EMEA deals: Aon

M&A insurance take-up resilient despite fall in EMEA deals: Aon

M&A insurance take-up resilient despite fall in EMEA deals: Aon

The value of mergers and acquisitions (M&A) in the EMEA region fell during the first half of this year, yet Aon said insurance bought to cover these transactions has remained resilient. Despite this, the broker has challenged the insurance market to develop more innovative solutions. In a new report with Mergermarket, Aon said 3,962 M&As were reported in the EMEA…

US managing agency launches new Lloyd’s syndicate

US managing agency launches new Lloyd’s syndicate

US managing agency launches new Lloyd’s syndicate

A new syndicate is to launch at Lloyd’s for 2020 after several unprofitable syndicates have withdrawn for the new year of account. Victor Syndicate 2288 will begin underwriting with capacity of £57m, backed by Marsh-owned US managing general agency Victor Insurance Holdings, which has appointed third-party managing agency Asta to oversee the syndicate. Victor Insurance said the new syndicate will…

Stable outlook for Italian insurance sector, says Moody’s

Stable outlook for Italian insurance sector, says Moody’s

Stable outlook for Italian insurance sector, says Moody’s

Robust earnings, moderate premium growth in property and casualty insurance, and a favourable shift in the business mix for life insurers, has led Moody’s Investors Service to maintain a stable outlook for the Italian insurance industry. “The macroeconomic environment for Italian insurers remains challenging, as reflected in low economic growth and flat unemployment,” said Christian Badorff, a vice-president at Moody’s.…

AXA usurps Allianz in asset rankings

AXA usurps Allianz in asset rankings

AXA usurps Allianz in asset rankings

Three European insurance groups made the world’s top ten largest insurers list compiled by AM Best, measured by 2018 net written premium (NWP). AXA took second spot behind global number one United Health, while Allianz was ranked in seventh place and Assicurazioni Generali in eighth place. AXA recorded a 3% jump in net written premiums after acquiring XL Group last…

Liberty Specialty Markets promises to be stable option for European buyers as market changes

Liberty Specialty Markets promises to be stable option for European buyers as market changes

Liberty Specialty Markets promises to be stable option for European buyers as market changes

Liberty Specialty Markets (LSM) will continue its push into Europe and be a stable partner for risk managers through changing market conditions, according to Kerry McKay, head of distribution in Europe at LSM. LSM has grown significantly in Europe during the past three years, and will continue to expand steadily in the region, despite the retrenchment of some insurers in…

AGCS unbundles risk management services in new unit launch

AGCS unbundles risk management services in new unit launch

AGCS unbundles risk management services in new unit launch

Allianz Global Corporate & Specialty (AGCS) has launched a new unit that will offer corporate clients risk consulting, captive fronting and crisis management services separately to insurance covers. Launched at the Ferma Forum in Berlin today, AGCS Services will be piloted in central and eastern Europe and the Mediterranean region. AGCS said the launch marks a new approach in response…

1 2 3 18