Europe

WTW expected to divest more aerospace assets than mandated by EC

Willis Towers Watson (WTW) is divesting a greater share of its market-leading aviation business than that ordered by antitrust regulators, The Insurer understands.

Sampo reports 37% growth in underwriting profit in P&C units

Sampo Group’s P&C businesses reported 37 percent growth in underwriting profit during the first quarter of 2021 with a 4.5 percentage point combined ratio improvement.

CCR names Le Pape to succeed Blayau as chairman

French state-owned reinsurer CCR has named Jacques Le Pape as chairman of the board of directors, succeeding Pierre Blayau whose term of office has come to an end.

Charles Taylor continues European expansion with IES deal

Charles Taylor has continued its expansion in Europe with the acquisition of loss adjusting practice Insurance Engineering Services (IES).

Aon-WTW deadline pushed back to August by EC as divestments loom

The European Commission (EC) has again extended the deadline on its investigation into the Aon-Willis Towers Watson (WTW) combination as divestments in the tabled ~$30bn transaction are expected to be revealed this week.

HW Kaufman opens new Amsterdam office to support continental clients

HW Kaufman Group has bolstered its capabilities in Europe with the opening of a new office in the Netherlands as the company looks to broaden its footprint on the continent.

EC expected to clear Aon-WTW without further concessions

The Aon-Willis Towers Watson transaction looks to have taken a significant step closer to completion with reports today that European Commission antitrust regulators are expected to give conditional clearance to the $30bn deal without demanding further remedies.

European SPAC Pegasus eyes insurance opportunities ahead of €500mn IPO

Pegasus Europe, a special purpose acquisition company (SPAC) focused on opportunities in the European financial services industry, has released details of its planned listing on Euronext Amsterdam, scheduled for later this week.

Marsh promotes Dahlmann to lead Swedish captive operations

Marsh has named Alex Dahlmann as head of office for its Swedish captive operations.

GC shuffles European leadership; adds Willis Re’s den Boer as treaty MD

Guy Carpenter has appointed Christophe Gaudron as CEO of its French operation and Michel den Boer as managing director of treaty broking for the Benelux region as the broker continues to overhaul its senior management on the continent.

Gjensidige beats consensus despite winter weather hit to underwriting profit

An “extraordinarily cold” winter in Norway led to a modest decrease in underwriting profit at Gjensidige during the first quarter of 2021.

Howden acquires Spanish corporate broker ARTAI

Expansive broking group Howden has acquired ARTAI, Spain’s largest independent corporate insurance broker.

Ex-Allianz CFO Wemmer plans European SPAC to target insurance deals

Former Allianz and Zurich group CFO Dieter Wemmer is launching a blank-cheque company to target deals in the insurance sector.

Lloyd’s Europe names Breitburd CEO as Rottiers exits amid structural overhaul

Lloyd’s has announced the chief executive of its European platform Sonja Rottiers will step down at the start of June and will be succeeded by former Axa UK CFO Amélie Breitburd.

EC restarts clock on Aon-WTW probe as concessions offered

The European Commission has revised its deadline to 12 July to conclude its investigation into the Aon-Willis Towers Watson merger after the brokers submitted undisclosed concessions related to the deal.

Hiscox names Dietrich CEO of European operations

London-listed Hiscox has promoted Robert Dietrich to CEO of Hiscox Europe.

Report: Aon and WTW provide remedy proposal in talks with EC over merger

Aon has offered up a remedy proposal to the European Commission (EC) as the broking giant seeks to get its mammoth acquisition of Willis Towers Watson (WTW) over various antitrust hurdles and across the finish line, according to reports.

Berenberg expects 1.4 renewal outcomes have been “largely in line” with expectations

European reinsurance combined ratios will improve by at least 1 percent during 2021 as market hardening continues, according to Berenberg analysts, with terms and conditions also continuing to tighten.

Berenberg: Sampo set for rapid sale of Nordea stake as activist pressure mounts

The sale of Sampo’s remaining €5.5bn ($6.5bn) stake in banking group Nordea will lead to a relatively quick return of cash to shareholders through special dividends and help alleviate mounting pressure from activist investors, according to Berenberg analysts.

Markets Review: P&C stocks gain in choppy first quarter

Wall Street’s leading P&C carriers registered widespread gains during the first quarter of 2021 as investor sentiment rose on vaccine optimism, better-than-expected corporate earnings and massive government stimulus plans.

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