Five years later, the EU is still defining itself

Article Abstract:

Rapid change and consolidation mark Europe's insurance industry in 1997. Mergers and acquisitions in the life insurance sector are commonplace while low rates of return characterize new business owing to stiffer competition. The legislation for Freedom of Services has also brought about a change in perspective, with many market players moving toward globalization. Political developments have also triggered growth, while the concept of bancassurance has taken hold in some markets. The savings and pension market holds the greatest potential, as the pension burden shifts to the private sector.

Industry Overview, Europe

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Global outlook: half-year highlights in Scandinavia - insurers open to possibilities

Article Abstract:

Trends in the Swedish insurance market are dominated by firms' expectations about new laws which will require life insurance firms to distribute surplus money to policy holders. Several firms plan to stop writing new life policies because of the law and many are restructuring. Consolidations and joint ventures also continue in the market. Firms are pushing to make Swedish laws more congruous with European Community rules. Companies discussed include Skandia, Trygg-Hansa, and Folksam.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Insurance Regulation, France, Sweden, International aspects, Column, Bermuda, Insurance law

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Stockholm

Article Abstract:

Sweden's insurance and banking supervisory agencies were joined to create the Financial Supervisory Authority. The Authority was soon challenged by the first insurance company bankruptcy since approximately 1900, caused by credit insurance losses and insufficient reinsurance. Other Swedish insurers have been reprimanded by the Authority for similar practices. Other news of the Scandinavian insurance industry is presented.

Scandinavia

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