News - Insurance

VIG to acquire AEGON business in CEE

Wiener Versicherung Gruppe (VIG) agreed with Aegon N.V. on 29 November 2020 to acquire Aegon's insurance business in Hungary, Poland, Romania and Turkey. VIG will take over Aegon's non-life and life insurance companies as well as pension funds, asset management and service companies in these countries, which ideally complement VIG's existing portfolio. The purchase price amounts to EUR 830 million. The transaction is subject to the necessary regulatory and competition approvals. Closing of the transaction is expected to take place in the second half of 2021.

SCOR ILS Atropos fund exceed the USD 1 billion mark of assets under management

The assets under management for SCOR ILS Fund Atropos ("Atropos") recently exceeded the USD 1 billion mark. As of October 31, 2020, the total outstanding Insurance Linked Securities ("ILS") managed by SCOR Investment Partners and its London subsidiary Coriolis Capital Limited have reached USD 2.4 billion.

Juan Ramon Pla, BIPAR: "The most important perspective of COVID-19 is the relation between the client and the insurance intermediary"

"The COVID-19 epidemy was a surprise for everyone and no one was prepared for this and no one was expecting that this would happen, so we had to be flexible and adapt to serve our clients" declared Juan Ramon Pla, President of BIPAR (European Federation of Insurance Intermediaries) during the fifteenth edition of the National Conference of Insurance and Pension Brokers organized today by UNSICAR.

UNIQA posted strong 9 months results despite COVID-19 pandemic

Austrian insurance group UNIQA announced its 9 months uderwriting result almost doubled to EUR 124.9 million vs. 3Q2019, despite the company had to pay out "over EUR 70 million in additional insurance benefits from January to September for business interruptions and cancelled events due to COVID-19".