Reinsurance broker GUY CARPENTER (GC) part of MARSH & McLennan Companies (MMC), announced the appointment of Miles SHEPHARD as Managing Director and Head of GC Access, International, effective October 2021.
CHUBB announced that John KEOGH, Executive Vice Chairman of CHUBB Group and Chief Operating Officer, has been appointed President and Chief Operating Officer, effective immediately. He will continue to report to Evan G. GREENBERG, Chairman and CEO, and his current broad companywide responsibilities remain unchanged.
AVIVA announced the appointment of Adam WINSLOW as CEO of International. He will join AVIVA in January and will be responsible for AVIVA's international businesses in continental Europe and Asia.
2020 "Oscar di Bilancio" has been awarded to Milan-Generali for its 2019 Annual Integrated Report due to its clarity, methodological rigour and transparency.
On November 24, at the analytical conference "Life Insurance: Market Transformation", RSHB-Life Insurance was awarded a diploma in the nomination "Growth Leader of accumulative life insurance" based on a study of the life insurance market for 9 months of 2020, the insurer's press service reported
For 9 months of 2020, GWP of the Belarusian insurance market amounted to BYN 1.09 billion (EUR 355.72 million), which is 6.43% more y-o-y in local currency. At the same time, paid claims increased by 12.25% to BYN 577.79 million, according to the data published by the Ministry of Finance of the Republic.
Kosovo insurers posted a net profit of EUR 4.9 million in the nine months through September, compared to a net loss of EUR -0.8 million a year earlier, Central Bank monthly figures showed.
As of the end of 3Q2020, the Kyrgyz insurance market amounted to KGS 658.58 million (~EUR 7.08 million*), having decreased by more than 10% y-o-y, according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.
Belgium's KBC Group and OTP Bank, the Hungarian parent company of OTP Banka Slovensko (Slovakia), closed the agreement announced in February 2020
for KBC Bank NV to acquire ownership of 99.44% of the shares in OTP Banka Slovensko.
Bulgarian financial holding EUROHOLD Bulgaria, - the shareholder of EUROINS Insurance Group - one of the main players in CEE/SEE/CIS region, increased its revenues and maintained its operating profit in a challenging period in the context of the COVID-19 pandemic, according to the holding's consolidated financial statement for the first nine months of 2020.
Taking into account the decrease in the level of income of the country's population, associated with the protracted situation of the pandemic, it was decided to postpone the incurrence of liability for non-compliance with the MTPL law, as Arzybek KOZHOSHEV, Chairman of the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic
Global reinsurer Swiss Re targets nat cat portfolio growth with the launch of a new standalone fund company, which enables investors to access the firm's natural catastrophe business.
Global reinsurer MUNICH Re is aiming for a profit of EUR 2.8 billion in 2021. MUNCH Re representatives announced the Group expects financial consequences from COVID-19 next year as well, but on a considerably smaller scale than in 2020.
During the pandemic, insurance companies remained stable. According to the results for 9 months of 2020, the profit of the insurance market (before tax) increased by almost a quarter (+24.6% y-o-y), to RUB 230.4 billion (~EUR 2.49 billion*), according to the "Financial Stability Review" of the Central Bank of the Russian Federation.
On November 25-26, 2020, the event was held in Moscow that united the 24th Annual Reinsurance Conference and the 19th Annual November Business Meetings for Reinsurers.
French insurer AXA announced that it has entered into an agreement with Gulf Insurance Group (GIG) to sell its insurance operations in the Gulf region, which includes its shareholding in AXA Gulf, AXA Cooperative Insurance Company and AXA Green Crescent Insurance Company.
ALLIANZ today it has agreed to purchase the general insurance business of Australian WESTPAC, and enter into a new 20-year exclusive agreement for the distribution of general insurance products to WESTPAC customers.
LLOYD's confirmed it has received final approval from the High Court of England and Wales to transfer EEA policies to LLOYD's Insurance Company SA (LLOYD's Europe), with its registered office in Brussels, Belgium. The transfer will take effect from 00:01 on 30 December 2020.
ERGO Beratung und Vertrieb AG and WUSTENRON Bausparkasse AG are expanding their long-standing partnership to include the real estate financing segment. The extended, long-term cooperation is scheduled to start in spring 2021.
According to the Ukrainian Insurance Group, for the first 9 months of 2020, the company's GWP grew by 24.2% y-o-y, Forinshurer reports