Insurance news from European Union includes plan for nuclear disaster

Nuclear Plant Insurance news

The EU Commission’s energy head is looking for a design for coverage in case of plant problems. Guenther Oettinger, the energy chief for the European Commission, has said that the executive arm of the bloc will soon be presenting a proposal that will make insurance news, as it will involve mandatory disaster coverage for nuclear power plants. This proposal is expected to be presented within the next few weeks for the EU’s consideration. Oettinger made further insurance news when he announced that this proposal should be among the leading items…

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ING Group wins more time to divest in insurance businesses

ING Group awarded time by the European Commission for divestment efforts The ING Group, one of the world’s largest financial services companies, has been working to divest its insurance operations over the past several months. The company has been met with several challenges in this task and has petitions the European Commission, the legislative arm of the European Union, for more time, a request that has been granted this week. The European Commission had originally set a deadline for the company it divest its insurance businesses by the end of…

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Insurance news from Zurich shows dropping profits

Zurich Insurance Company News Building in Leeds

The insurer’s third quarter profit fell by 62 percent. Zurich insurance news is now showing that the company will not be ruling out additional write-downs because of its struggling and bothersome German unit, as it has third quarter report is now revealing a drop of 62 percent in its net profits. The largest insurer in Switzerland has been accumulating almost $1 billion in additional costs since 2012. Those extra charges are the direct result of its business in Germany. In October, the group cautioned that any efforts for increasing claims…

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Insurance news from Allianz includes profit increases

Insurance News Snap Shot of Allianz Website

The Munich based insurer also saw a rise in P&C gross written premiums. Allianz SE has just announced its third quarter financial results for 2012, and part of this insurance news included a 32.8 percent increase over the operating profits at the same time in 2011, as well as a drop in natural catastrophe claims, and that property and casualty profits have edged upward. Overall, the insurer feels that this year was almost five times better than last year. Of course, it needs to be taken into account that in…

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Spain may benefit from EU insurance plan

EU Insurance Plan

EU insurance plan could help Spain recover from financial troubles The European Union has been struggling to rein in on a dire financial crisis that has threatened the economic stability of several countries in the region. The governing body has turned to the insurance industry to aid in recovery and the mitigation of a future crisis and insurers has, thus far, proven to be a powerful ally in this endeavor. Several countries suffering from the effects of the financial crisis have benefited from the involvement of the insurance industry. Now, the European…

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