Italy
Italy's sovereign IDR slashed two notches by Fitch
Italy’s sovereign long-term issuer default rating has been downgraded to ‘A-‘ from ‘A+’ by Fitch.
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.
View from the top: Looking longer term
The present market should be given less consideration than future propects, says Laurent Matras.
Hannover Re expects double-digit million euro loss from Concordia
Hannover Re’s total loss from the stricken Costa Concordia could be in the mid-double-digit million euro range, according to the firm.
News analysis: Groupama UK up for sale — but who will buy the group?
Will Groupama be sold lock, stock and barrel or broken into an insurer and its broker parts?
Hannover Re could face €10m Costa Concordia claim
Hannover Re expects a damage claim of at least €10m from the Costa Concordia wreck, according to reports.
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.
Coface predicts recession rate of 0.1% for Europe in 2012
Credit insurer Coface warned about the systemic nature of the Eurozone crisis at its annual country risk conference but does not expect a return to depths of the 2008-2009 crisis.
Generali says Costa Concordia impact marginal
Assicurazioni Generali has confirmed to Insurance Insight that it is one of the insurers for the Costa Concordia cruise ship.
Generali, RSA and XL Group believed to insure stricken cruise ship
The Costa Concordia, which ran aground on Friday, is believed to have been insured by companies including RSA Insurance Group, Assicurazioni Generali SpA, and XL Group.
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.
Chartis and Generali back launch of Chinese aggregator site
CNinsure, an independent insurance intermediary company operating in China, has launched a comparison website under the name of Baowang (www.baoxian.com).
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.
JLT completes Italian Marine & Aviation deal
JLT Group has completed the deal to combine its existing Italian broking business Jardine Lloyd Thompson SpA with the business of Marine & Aviation SpA.
JLT confirms completion of Italian deal
JLT has combined its existing Italian broking business with the business of Marine & Aviation.
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
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.
Charles Taylor and RBL Italia enter Italian loss adjusting association
International loss adjuster, Charles Taylor Adjusting, has entered an exclusive association agreement with RBL Italia Srl in Italy to work together on all non-marine classes of business.
Charles Taylor adjusting and RBL Italia enter loss adjusting association in Italy
International loss adjuster, Charles Taylor adjusting, has entered an exclusive association agreement with RBL Italia in Italy to work together on all non marine classes of business.
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.
AM Best downgrades Generali ratings
AM Best is taking rating actions on a number of European reinsurers following the continued negative developments regarding the eurozone sovereign debt crisis.
UK insurers wait on developments following PM Cameron EU Treaty veto
Standard and Poor’s downgrade warning on 15 insurers should have been “no surprise” but the market is still in the same position it was a week ago given the lack of “concrete activity” at the weekend, according to an industry analyst.
O’Roarke and LV management team extend contract until 2016 – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including how LV general insurance MD John O’Roarke is targeting an increase in SME and home insurance business having signed up to a new four-year deal at the firm.