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.
29 November 2020SCOR 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.
27 November 2020Moody's confirms Generali's IFS and debt instruments ratings
Moody's announced that it has confirmed Generali's IFS rating at Baa1. At the same time, Moody's confirmed all ratings of debt instruments issued or guaranteed by the Group, outlook stable.
27 November 2020Dirk Bohme joins the management boards of HDI Systeme AG and HDI Lebensversicherung AG
Dirk Bohme will succeed Michael Krebbers, taking on the roles of the Management Board of HDI Systeme AG (HSY) and on the Management Board of HDI Lebensversicherung AG. The change is effective beginning March 1st, 2021.
27 November 2020MAPFRE appoints Group Head of Sustainability and new CEO for Inmuebles branch
MAPFRE recently announced two new Head appointments in its Sustainability and Inmuebles, both of them being placed in vacant positions after one management restructure and one retirement.
27 November 2020Juan 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.
26 November 2020RUSSIA: GWP of RESO-Garantia at the end of third quarter increased by 9.8% y-o-y
For the first 9 months of 2020, the GWP of RESO-Garantia increased by 9.8% y-o-y, to RUB 77.42 billion (~EUR 0.84 billion*). The company's paid claims for the period amounted to RUB 34.78 billion, writes ASN with reference to the company's press release.
26 November 2020OCEAN Re named Denis Nikolaytsev as Head of Representative Office for the new Moscow office
OCEAN Re continues its stage of international development and expansion and will startup a new Representative Office in Moscow most probably at the beginning of the next year, appointing Denis Nikolaytsev as Head of the new office.
26 November 2020STATISTICS: ESTONIA, 3Q2020: Insurance market continued to decline
Estonian insurers reported 3Q 2020 GWP of EUR 350 million, 4.66% less compared with January-September 2019, according to the market figures published by the Estonian National Statistics Board.
26 November 2020STATISTICS: LITHUANIA, 3Q2020: Life insurers maintained the market in positive area
Lithuanian insurers reported GWP of EUR 710 million at end-September 2020, 0.6% more y-o-y, according to the quarterly market figures published on the Central Bank's website.
26 November 2020STATISTICS: MOLDOVA, 3Q2020: Market dropped 13% y-o-y, but TOP-3 ended the third quarter in the growth zone
At the end of 3Q2020, the insurance market in Moldova amounted to MDL 1.06 billion (EUR 53.57 million*), which is 12.80% less y-o-y in local currency. Paid claims also decreased by almost 12%, to MDL 438 million, as the data, published by the National Commission of Financial Market shows.
26 November 2020VIG, 9M2020 results: Premium income increased to almost EUR 8 billion
For the first nine months of 2020, Vienna Insurance Group (VIG) reported a solid premium income of EUR 8 billion, an improved combined ratio of 96.1% and a financial result of EUR 513 million, lowered by the ongoing COVID-19 pandemic.
26 November 2020Pawel Kowalewski will lead GrECo Specialty's new Power & Renewables division
GrECo Specialty, a dedicated specialty unit of GrECo is further expanding its services for the energy sector. Due to the ever increasing importance of the power and renewables sector a dedicated division was established to better support our clients in this industry.
25 November 2020Insurance Europe: Current VAT rules are outdated for the provision of modern financial services
Insurance Europe published its response to the European Commission's (EC's) roadmap for the review of VAT rules for financial and insurance services. Insurance Europe considers that the current VAT rules are outdated and cannot be adequately applied to the provision of modern financial services.
25 November 2020UNIQA 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".
25 November 2020LLOYD's confirmed its new Council members effective December 1st
LLOYD's announced its new Council members. The roles will come into effect on 1 December 2020. LLOYD's mentioned six of the fifteen members of the new Council are elected by the market.
25 November 2020UKRAINE: Number of MTPL agreements increased by 8.7% y-o-y in 3Q2020
According to the MTIBU (Motor Transport Insurance Bureau of Ukraine), in the third quarter of 2020, the number of concluded MTPL agreements reached 2.24 million units, which is 8.7% more y-o-y. At the same time, collected GWP amounted to UAH 1.65 billion (+30%) (~EUR 49.75 million*), according to the Bureau's website.
25 November 2020RMS, Willis Re and Securian Financial launched USD 100 million mortality catastrophe bond
RMS together with Willis Re Securities and Securian Financial launched the new "La Vie Re Limited (Series 2020-1)" mortality catastrophe bond, providing USD 100 million of reinsurance protection for Minnesota Life Insurance Company, a Securian Financial affiliate.
24 November 2020Flood risk and climate change in UK, discussed at Guy Carpenter and Flood Re co-hosted webinar
The dual challenges of increasing flood risk in the UK and the impact of climate were discussed by Guy Carpenter and Flood Re co-chaired on November 20, during "Climate Change - Improving the flood resilience of the built environment" webinar.
24 November 2020Sava Insurance Group, 9M2020: Operating revenue grew 16.4% y-o-y to EUR 489.5 million
From January to September 2020, the Sava Insurance Group grew operating revenue by 16.4%, while the group's net profit went up by 26.4% year on year. Operating revenue generated by the Sava Insurance Group reached 76.5% of the full-year target set in the revised 2020 plan.
24 November 2020XPRIMM Newsletter
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