As the insurance market in Europe continues to expand and consolidate, it's becoming increasingly clear that a deep understanding of local markets and trusted local leadership isn’t just a nice to have – it’s essential, says PIB Europe’s CEO Onno Janssen.

The recent long-duration snow event that affected portions of southern Canada and the northern US between 28 November and 3 December could cause tens of millions of dollars in economic and insured losses, according to Aon.

European insurers have welcomed the agreement reached by the International Association of Insurance Supervisors on its insurance capital standard project.

Loss aggregator Perils has disclosed a third industry loss estimate of €1.58bn ($1.67bn) for the flooding that impacted parts of southern Germany between 31 May and 6 June 2024.

Less than half (45 percent) of leaders at large and mid-sized UK businesses believe their cyber insurance cover is effective in reducing losses in the event of cyber incident, a new study by Resilience has found.

Fitch Ratings has affirmed its neutral outlook for the European insurance sector for 2025, reflecting operational and business conditions, disciplined pricing, easing inflation and moderating P&C premium rates.

Beazley Security has appointed two vice presidents to support its growth and geographic expansion; Stephanie Webb will oversee sales in the UK and Europe, while Jason Deering will focus on expanding client engagements across the Americas.

Danish insurer Tryg has launched a DKK2bn ($280mn) share buyback alongside the release of its new 2027 financial targets at its capital markets day in London on Wednesday.

Brown & Brown (Europe) has continued its M&A push with the acquisition of employee benefits specialist Drewberry Limited.

Generali has agreed to sell its insurance business in the Philippines to Insular Life Assurance Company.

Zurich has closed the previously announced acquisition of AIG’s global individual personal travel insurance and assistance business.

German insurtech Wefox Holding AG has reached an agreement to sell its Liechtenstein-based insurance carrier to a consortium of Swiss companies led by pension service provider Berag.

A disorderly net-zero transition could impact European insurers’ investment returns by up to 13 percent in the short term, a new report by Ortec Finance has said, while failure to transition altogether would slash real estate and equity portfolio returns by more than half.

Shares in Europe-listed P&C (re)insurers delivered their second-strongest performance of the year in November, amid an otherwise subdued month for European equities.

Motor premiums in England and Wales are set to fall by an average of 5 percent per policyholder following a government review of the personal injury discount rate (PIDR), according to projections by PwC, which is expected to intensify competition in the motor insurance market.