Europe

Allianz to acquire Generali’s Tua Assicurazioni in $295mn deal

Italy’s Generali has reached an agreement to sell Tua Assicurazioni to Europe’s largest insurer Allianz for a consideration of €280mn ($295.1mn).

Ukraine launches Marsh McLennan-supported war risk data platform

Ukraine has activated the data platform supported by Marsh McLennan that enables insurers, investors and governments to consolidate and analyse war risks in the country.

MarshBerry acquires insurance-focused boutique M&A advisory IMAS

Boutique M&A advisory MarshBerry has acquired IMAS Corporate Finance, a UK M&A advisory firm specialising in the insurance and wealth segments.

PIB adds van der Zalm from Aon Nederland to lead European broking

PIB Group has appointed Mandy van der Zalm as chief broking officer for Europe as part of the group’s wider aim to build a specialist and diversified pan-European insurance distribution business.

Allianz brings combined specialty model to Benelux and Nordics led by Vagenende

Allianz Commercial has appointed Elke Vagenende as commercial managing director for the firm’s newly established Benelux and Nordics region.

Insurance Europe slams Eiopa draft on third country reinsurance as “potentially harmful” to sector

Insurance Europe has criticised Eiopa’s draft supervisory statement on reinsurance undertakings with third countries as potentially harmful to the competitiveness of the European (re)insurance industry.

Klisura: Guy Carpenter “will not tolerate” talent raids

Guy Carpenter has welcomed the settlement of its London legal dispute with smaller rival Howden Group over the recruitment of 30+ colleagues from its European business, with CEO Dean Klisura saying the last-minute deal sends a “clear signal” that it will not tolerate “unlawful” raids on its workforce.

BHSI adds AGCS’ Fuertes to lead energy and construction in Spain

Berkshire Hathaway Specialty Insurance has strengthened its offering in continental Europe with the appointment of Ana Fuertes as head of energy and construction, Spain, based in Madrid.

The wisdom in avoiding the lottery of litigation

The American journalist and author Ambrose Bierce once described litigation as “a machine you go into as a pig and come out of as a sausage”, a dictum Guy Carpenter and Howden Group seem to have taken to heart given the last-minute scramble to settle their latest London broker poaching dispute.

Guy Carpenter and Howden Tiger settle European poaching dispute on eve of trial

On the eve of what threatened to be a combustible trial, Guy Carpenter and Howden Group have settled a London legal dispute over the defection of 38 Europe-based former Marsh McLennan employees to the UK broking group.

LSM strengthens European offering with four hires across PI, casualty and claims

Liberty Specialty Markets (LSM) has expanded its presence in continental Europe with four new hires across its Benelux and Nordics team.

Rokstone’s iSure launches Great American-backed PI facility

iSure, Rokstone’s specialist SME insurance MGA in Ireland, has launched a Great American-backed professional indemnity facility.

Sompo continues European hiring spree with Lisiak and Stokes

Sompo international has appointed Anna Lisiak as insurance head of claims for continental Europe and Herndon Stokes as insurance head of distribution and client relationship management for continental Europe.

On the road to reinsurance renewals: Next stop, Baden-Baden and APCIA

Reflections post Rendez-Vous de Septembre reinforce cautious optimism ahead of 1 January.

Spain’s €855mn oil spill judgment against insurers must be settled through UK arbitration

A UK court has ruled that a Spanish judgment forcing a P&I mutual to pay €855mn in relation to the MV Prestige sinking and oil spill in 2002 cannot be upheld, finding instead that the case must go through arbitration in London.

COMMENT: Filling the cyber cat void

When it comes to the worst-case impact of a catastrophic cyber event on the global economy, the industry term ‘protection gap’ feels rather inadequate. ‘Chasm’ is more appropriate.

PIB Group names Gray CEO of specialty division

Broker consolidation drives European insurance M&A in H1

Broker consolidation was the main driver of European insurance M&A during the first half of 2023, according to a report by FTI Consulting.

LMA updates sanctions clauses for use in civil law jurisdictions

The Lloyd’s Market Association has updated its sanctions clauses with the introduction of LMA3100A and LMA3200 to clarify the intent of suspension clauses and to make it easier to use the clauses in civil law jurisdictions.

WTW secures partial victory in Spanish poaching suit against former Iberia execs and Deasterra Partners

A Spanish court of appeal has handed WTW partial victory in a long-running lawsuit against three former directors of its Iberia business and the start-up broking platform they founded in 2020 with backing from rival Marsh McLennan.