Reinsurance News
Insurance Europe
Insurance Europe names Alexander Sarrigeorgiou VP
22nd November 2022
Insurance Europe, the European insurance and reinsurance federation, has elected Alexander Sarrigeorgiou, chair and CEO of Eurolife, as its new Vice-President (VP). Sarrigeorgiou has led Eurolife for 18 years, and before this was CEO of Allianz Insurance in Greece for over five years. He also chairs the Hellenic Association of Insurance ... Read the full article
Industry still willing to play pivotal part in tackling climate change: Insurance Europe
8th November 2022
Insurance Europe has said that the continent’s insurers and reinsurers are still willing to play their ‘important role’ in tackling climate change. In putting out this statement just before COP27, the body said that climate change had been a key priority for the reinsurance and insurance industry for decades. Insurance Europe said: ... Read the full article
Insurance Europe responds to EIOPA consultation paper on differential pricing
12th October 2022
Insurance Europe, the European insurance and reinsurance federation, have published their comments regarding a recent consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on differential pricing as concerns have been raised. In July 2022 EIOPA launched the three-month long public consultation in response to concerns that some differential pricing ... Read the full article
Initial legislative report on TPLF accepted by European Parliament
14th September 2022
The European Parliament plenary session has adopted MEP Axel Voss’ own initiative legislative report on responsible third-party litigation funding (TPLF). The one-page report summary, which is available here, calls on the European Commission to propose solutions for the effective supervision of TPLF in commercial and civil disputes. A statement from the ... Read the full article
Insurance Europe highlights challenges in accessing foreign markets
8th July 2022
Insurance Europe, the European re/insurance federation, has highlighted a series of trade and market access barriers that could amplify risks in Argentina, Brazil, Canada, India and Indonesia for European insurers. The federation emphasised the importance of removing these barriers as it is vital to reduce protection gaps and to avoid dangerous ... Read the full article
Insurance Europe response to FSB consultation on climate change impacts
7th July 2022
Insurance Europe has responded to a consultation by the Financial Stability Board (FSB), saying that there is no evidence to say that insurers are particularly vulnerable to system-wide impacts from climate change. The federation that presents the European insurance market said in an eight-page response said that systemic risk emanating from ... Read the full article
Insurance Europe signs joint letter on third party litigation funding
24th June 2022
Insurance Europe is one of a host of companies and organisations that has called for the European Union to help protect all parties from ‘opportunistic litigation’. A joint statement from Airlines for Europe (A4E), AmCham EU, BUSINESSEUROPE, DIGITALEUROPE, DOT Europe, EFPIA, Eurochambres, EuroCommerce, European Banking Federation, European Justice Forum, Insurance Europe, ... Read the full article
Insurance Europe lends support to IAIS Holistic Framework
17th June 2022
Insurance Europe, the European insurance and reinsurance federation, has commented on the progress of the Holistic Framework and the Insurance Capital Standard (ICS), which it sees as an “important achievement” despite challenges regarding implementation. Olav Jones, deputy director general of Insurance Europe, laid out his position ahead of a seminar hosted ... Read the full article
Insurance Europe urges policymakers & public to collaborate to tackle protection gaps
8th June 2022
Speaking at the 12th International Insurance Conference, in Prague, Andreas Brandstetter, Insurance Europe president, urged policymakers, insurers and the public to work together to address the significant protection gaps that exist in societies and economies. Brandstetter stressed the need for policymakers to ensure that regulatory frameworks are fit for purpose and ... Read the full article
Insurance Europe welcomes OECD tax exclusion for reinsurance
27th May 2022
Insurance Europe, the European insurance and reinsurance federation, has welcomed a decision by the Organisation for Economic Co-operation and Development (OECD) to exclude reinsurance from its Pillar One tax rules. Following public consultation, the OECD concluded that regulated financial services, including reinsurance, do not qualify for additional taxation under its Pillar ... Read the full article
European insurers see adaptation as vital as IPCC warns of irreversible climate impacts
28th February 2022
As the Intergovernmental Panel on Climate Change (IPCC) releases its latest report, insurers and reinsurers across Europe agree that adaptation is vital to ensure climate resilience, reports Insurance Europe. The European insurance and reinsurance federation, Insurance Europe, "fully supports the need for a very strong focus on adaptation, as suggested by ... Read the full article
Insurance Europe responds to Solvency II consultation
19th January 2022
Insurance Europe has responded to the European Commission’s Better Regulation consultation, saying that while the proposals contain helpful and necessary changes, there are elements that could undermine improvements and increase costs. The response from Insurance Europe, says that while Solvency II has provided a ‘more level regulatory playing field across Europe’, ... Read the full article
Insurance Europe expresses support towards COP26
11th November 2021
Insurance Europe, the European insurance and reinsurance federation, has expressed its support for COP26, the collective global momentum to combat climate change. The European insurance industry also backs the goals of the Paris Agreement and the European Green Deal, as well as Europe’s ambitious targets to reduce its greenhouse gas emissions ... Read the full article
EU reinsurers urge UK regulator to delay Solvency II changes
6th October 2021
Insurance Europe’s Reinsurance Advisory Board (RAB) has urged the UK’s Prudential Regulation Authority (PRA) to either extend its Temporary Permissions Regime (TPR) or wait until the Treasury's review of Solvency II is finalised before making changes to its regulatory requirements. A recent consultation conducted by the PRA outlined proposed changes to ... Read the full article
Solvency II proposals include needless costs and complexity: Insurance Europe
24th September 2021
Olav Jones, Deputy Director General of Insurance Europe, has welcomed new proposals on Solvency II by the European Commission (EC), but argued that some elements “unnecessarily increase costs and complexity” for re/insurers. Responding to the suggestion that the proposals would enable re/insurers to further contribute to Europe’s economy, he added that ... Read the full article
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