Greece
Buyers back industry preparedness for Eurozone fallout but fear claims
Insurance buyers have commended the UK insurance industry's preparations for a potential fallout if Greece leaves the Eurozone, but warned that the industry will be tested by major claims that arise out of a crisis.
Terrorism and civil unrest: Risky business
With several parts of the world engulfed by violence and civil unrest, is traditional terrorism and political risk cover increasingly irrelevant?
Taiwan insurance industry exposure to PIIGS revealed
Taiwan's insurance firms launched total investments of NT$13.9bn (£295m) in Portugal, Italy, Ireland, Greece and Spain in the first four months of the year.
Lloyd's reduces exposure to euro
Lloyd's of London has reduced its exposure "as much as possible" to the crisis-hit eurozone in preparation for a collapse of the bloc's single currency.
Uniqa reports profits up 20% for Q1 2012
The Uniqa Group has reported profit up 20.2% in the quarter one of 2012 to €54.4m (Q1 2011: €45.2m).
Greek exit could drive further insurer downgrades
Future ratings action on Italian and Spanish insurers is more likely to be driven by the macro-economic environment and sovereign rating than the idiosyncratic credit fundamentals of a particular insurer, Fitch said today.
Q&A: Vienna Insurance Group CEO Gunter Geyer
While the economic turmoil of the Eurozone crisis and heavy catastrophe losses eroded the bottom line of many European insurers in 2011, Vienna Insurance Group enjoyed the most profitable year in the group’s history, and avoided having its A+ credit…
ISE 2012: Portugal to follow Greece but sovereign defaults won't 'cripple' insurers
Kurt Karl, managing director, chief economist and head of economic research and consulting at Swiss Re, has predicted that Portugal will be the next nation to default, but that it will not cripple the insurance industry.
European sovereign debt hits insurer profits
2011 was the worst year on record for natural catastrophes, yet it was cracks in the Dow Jones, faults in the FTSE and tremors on the Hange Seng that bothered many insurers more.
Generali profit hit by €1,017m one-off impairments
Generali posted reduced profits for the full year 2011 due to impairments from Greek write-downs and its Telco investment to the tune of €1,017m.
Groupama CEO reaffirms employees and policyholders despite £1.5bn net losses
Groupama chief executive Thierry Martel has blamed "adverse market conditions" on huge capital losses, attributing the group's net result of a loss of almost €1.8bn (£1.5bn) to the Greek debt crisis.
Groupama CEO blames Greek debt crisis for £1.5bn net losses
Groupama chief executive Thierry Martel has blamed "adverse market conditions" on huge capital losses, attributing the group's net result of a loss of almost €1.8bn (£1.5bn) to the Greek debt crisis.
Fitch says insurers to cope with Greek debt
Credit rating agency Fitch has said insurers will not be hit by the Greek debt swap as they have already written down their holdings in anticipation of the deal and would be able to cope with further losses on Greek sovereign bonds.
Greek debt swap manageable for European insurers
Insurers have written down Greek sovereign debt in line with falling market prices, according to Fitch.
European construction – back to good health?
Construction markets have suffered across the globe with the financial downturn biting hard. Edward Murray investigates whether there are any glimmers of hope for the European market in 2012.
Countdown to ISE: Q&A with guest speaker Kurt Karl
Kurt Karl, managing director, chief economist and head of economic research and consulting at Swiss Reinsurance, will be presenting the session on 'Recent economic challenges and risk management' at Insurance Strategy Europe in Brussels on Wednesday 21…
Allianz revenues down 2.7% to €103.6bn
German general insurer Allianz reported a 2.7% reduction in revenues for the full year 2011, down to €103.6bn from €106.5bn in 2010.
Lancashire reveals $35m exposure to Costa Concordia
Lancashire Holdings has revealed, based on an industry loss of $850m, its exposure to the January Costa Concordia cruise ship loss is estimated to be approximately $35m net of reinsurance and reinstatement premiums.
Greece not a worry for European insurers, says Eiopa
The chairman of the European Insurance and Occupational Pensions Authority expects little further impact on the insurers from their holdings of Greek sovereign bonds.
Mapfre: performance warrants better credit rating
Mapfre's general manager criticised ratings agencies for failing to take the company's financial figures into account when downgrading them, at the Spanish insurer's press briefing this morning.
Economic uncertainty to impact European construction in 2012
The health of the European construction sector will depend on austerity plans in 2012, according to credit insurer Coface.
Fitch: eurozone stress analysis concludes further rating actions unlikely
Fitch Ratings says that it does not expect to take any further rating actions on European insurers as a result of its most recently updated eurozone stress test analysis.
Cost of Eurozone split is strong incentive to stay together
The disintegration of the Eurozone would be highly damaging both for countries that left and countries that remained in the union, according to an Altradius report.
Allianz's 'AA-' IFS rating affirmed
Allianz SE has had its insurer financial strength rating and long-term issuer default rating affirmed at 'AA-' by Fitch