France
Mapfre, Generali and CCR downgraded following sovereigns
A raft of European insurers including Italy-based Generali and Spanish insurer Mapfre were downgraded by Standard and Poor’s yesterday.
Portugal, Spain and Turkey lead the way in European banassurance
Banks are most important distributors of insurance in Portugal, Spain and Turkey, according to recent research.
Groupama to sell UK operations
French insurer Groupama has confirmed it will sell its UK operations.
Editor's comment: Battle of the brands
From scrap yards to scrap heaps. Last week, the industry was getting agitated about the soaring problem of metal theft, while this week it’s more a sad tale of two well-known insurance names finding themselves destined only for the brand graveyard.
Breast implant scare could leave insurers facing multi-million-pound-bill
A £400m bill could land at the door of clinics and their insurers in the fallout of the banning of Poly Implant Prothese breast implants.
Lloyd's coverholder appoints ex-Chartis VP to launch French arm
Equinox Global, an approved Lloyd’s cover holder specialist in trade credit insurance, has appointed Alban De Malherbe to launch a French office.
Elite opens offices in France and Italy
Specialist legal and after-the-event insurer Elite is expanding its footprint in Europe by opening two new offices.
MMA to rebrand as Covéa as part of UK merger with Provident
Covéa has announced that Provident Insurance and MMA Insurance will merge into a single company, in a move which has been touted as a “platform for growth” within the UK market.
Axa raises €2.5bn to invest in the European property market
French insurer Axa will invest up to €2.5bn in the development of green and brownfield sites and existing properties which require extensive redevelopment across the continent, to exploit the gap left by banks in the property lending market.
QBE appoints French general manager from Marsh
QBE has appointed Jean-Philippe Pagès as general manager of QBE France replacing Jean Basset.
A windstorm for the insurance market
As the market gradually starts to digest the recent European renewals, Francesca Nyman considers the increasing challenge that European windstorms pose and whether insurers are adequately protected against this risk.
Axa and Japan Post ranked world's largest insurers
French insurer Axa once again came top of AM Best’s ranking of the world’s 25 largest insurance companies as measured by net premiums written, while Japan Post Insurance Company led the ranking measured by nonbanking assets.
Global insurance premiums top pre-crisis levels at $4.3trn according to study
Global insurance premiums grew by 2.7% in inflation adjusted terms in 2010 to $4.3 trn, climbing above pre-crisis levels, according to a new study by The City UK.
View from the top: Market volatility and risk – ‘Keep Calm and Carry On’
As 2011 draws to a turbulent end, minds are now focusing on how best to tackle the continued economic volatility that 2012 is sure to bring for risk managers across the world. Never has the old adage ‘Keep Calm and Carry on’ been more appropriate.
Perils updates windstorm exposure data for 11 European countries
Perils, the independent organisation that provide industry-wide catastrophe insurance data, has updated the windstorm exposure data for 11 European countries.
Sales to boost capital at Groupama
Groupama has made an agreement with state owned French banking group, Caisse des Dépôts which it says will introduce substantial fresh capital to Groupama to reinforce the group’s solvency.
Groupama on negative watch
Groupama and its subsidiaries have been placed on negative watch over the possible weakening of its financial profile.
Payment protection insurance thrives in Europe
Payment protection insurance is an expanding market in much of Europe, despite issues in the UK market, according to a report.
French floods to cost insurers €800m
The November floods in 16 regions of France look set to cost insurers €800m according to a new report.
Torus acquires Starr’s Continental Europe renewal rights
Specialty insurer Torus's syndicate 2243 has acquired the renewal rights to the European business of CV Starr's syndicate 1919.
Editor's comment: Sales, sprinklers and statistics
Any reputable estate agent — excusing the potential oxymoron — will tell you the property market falls quiet in the run-up to Christmas, as potential vendors focus on the festivities ahead. Not so in the insurance market, with an unexpected end-of-year…
Fire protection sprinklers: The market needs saturating
Despite research showing sprinklers significantly reduce economic damage and environmental impact following major fires, hopes for mandatory legislation remain low.
Martel reshuffles Groupama management
Recently appointed Groupama chief executive Thierry Martel has unveiled his new management team.
Groupama to meet 'in the dark' brokers
Groupama is expected to give the first details of what might happen to the troubled French insurer in the UK when it meets with many of its UK brokers tonight.