Germany
Munich Re CEO to step down
Nikolaus von Bomhard will depart as CEO of reinsurer Munich Re in April 2017, with his role to be filled by Joachim Wenning.
Europe: Peer-to-peer insurance - is this the future?
The sharing economy meets insurance - so is it time for reciprocity insurance contracts to take off?
Israeli start-up Passportcard planning UK launch
Travel insurance start-up Passportcard is intending to be operational in the UK by the end of 2016.
Signal Iduna implements Friss solution for fraud detection
German insurer Signal Iduna has introduced a software solution from Friss to fight fraud in a more structured and effective way within the claims process.
Munich Re releases €1.4bn of reserves as it records €3.1bn profit despite Ergo struggles
Munich Re this morning reported a consolidated profit of €3.1bn (£2.5bn) (2014: €3.2bn) for 2015 on gross written premiums of €50.4bn (2014: €48.8bn).
HDI Gerling unveils new name
HDI Gerling Industrie Versicherung has rebranded to operate under the name HDI Global SE with immediate effect.
LSM expands casualty presence in Germany
Liberty Specialty Markets has improved its German position, appointing a four-strong casualty team in Cologne.
DWF to acquire German law firm Bridgehouse Law
Defendant law firm DWF is to acquire German international commercial firm Bridgehouse Law on 1 January 2016.
Allianz teams up with Chinese internet giant for digital venture
Allianz is to create a digital insurance company for the Chinese market, a joint venture with local internet giant Baidu and Asian investor Hillhouse Capital Group.
Allianz's internal SII model gets regulators' approval
Allianz Insurance, as part of the Allianz SE group, has gained regulatory approval to implement an internal model to calculate capital requirements under Solvency II.
Unrated German firm Berliner in default
The Financial Services Compensation Scheme is discussing the failure of German insurer Berliner with its liquidator after it was declared to be in default on 28 August 2015.
Brokers expect to benefit from Zurich's cost-cutting programme
Zurich’s decision to implement a cost-cutting initiative that will result in up to 440 UK redundancies has been welcomed by brokers who believe that removing a layer of management will produce tighter relationships with regional branches.
Allianz Group posts 7.5% drop in Q3 operating profit year on year
Allianz Group has reported third quarter operating profits of €2.45bn (£1.75bn), a 7.5% decrease on last year's figure of €2.65bn.
Northern European countries ahead of southern counterparts on SII readiness
Insurers in northern Europe are better prepared for Solvency II than those in the southern part of the continent, according to data specialist Silverfinch.
Zurich to axe almost 10% of staff in Germany
Zurich is to cut 500 jobs from its workforce in Germany over the next two years, the firm has confirmed.
Volkswagen to begin recall in January 2016
Troubled motor manufacturer Volkswagen will begin recalling cars that have been fitted with emission test-cheating software in January next year.
D&O insurers facing VW payout as emissions scandal rumbles on
The increased use of technology in motor vehicles has been highlighted as a grey area in determining where product liability falls, in light of the Volkswagen emissions scandal, which will likely see directors and officers' insurers on the hook.
Volkswagen's coverage questioned as £4.7bn is earmarked for emissions scandal
Volkswagen is unlikely to be able to rely on insurance to protect it from exposure relating to falsified US emission tests in particular diesel models of its vehicles, loss adjuster Cunningham Lindsey anticipates.
German insurers have largest foothold in €3.86bn travel and assistance market
The stand-alone travel insurance and assistance market across 20 European countries totalled €3.86bn (£2.45bn) in terms of gross written premiums in 2014 and is forecast to rise to €4.54bn by 2018.
Telematics firm Scope Technologies expands in Thailand and Germany
German insurer HDI Gerling and Thai company Bangkok Insurance have agreed pay-as-you-drive deals with telematics provider Scope Technologies.
Allianz Group estimates 2015 operating profit at upper target range
Operating profit in Allianz Group's property and casualty division rose 29.7% to €1.35bn (£952m) in the second quarter of 2015 as the company confirmed its operating profit outlook for the full year would reach €10.8bn.
Lifting of Iranian sanctions piques interest from German and French insurers
German and French insurance companies are ready to build bridges with Iran after the former pariah state struck a historic nuclear deal with six world powers, according to reports emanating from the Middle East.
Dual launches M&A business in Frankfurt and London
Hyperion's underwriting arm Dual has launched a merger and acquisitions business located in Frankfurt and London.
Aon highlights increased European terrorism threat
Aon has identified nine developed economies as being at an increased risk of terrorism, including seven from Europe.