Following their regular annual review in July 2019, Standard & Poor's have affirmed the financial strength rating "A" (excellent) of Sava Re d.d. and Zavarovalnica Sava, d.d., with the medium-term outlook being stable.
In the first six months of 2019, CO Group recorded net profit amounting to HRK 208 million (~EUR 27.5 million). At the same time, gross written premium at CO Group level amounted to HRK 1,981 million (~EUR 264 million) and was 1% lower compared to last year.
Generali Group published the consolidated financial report for the first 6 months of 2019. The Group's net profit reached EUR 1.8 billion, 34.6 percent more than the half-year of 2018 profit.
Allianz Group operating profit for the first half of 2019 reached EUR 6.1 billion (+6.4%), staying above the mid-point of Allianz full-year target range, the company said. The second quarter operating profit increased as well, reaching EUR 3.2 billion (5.4% more y-o-y).
AXA XL Insurance announced the appointment of Simona FUMAGALLI to Head of International Financial Lines, Europe, based in Milan.
Global re/insurance brokerage Marsh & McLennan Companies (MMC) announced its BoD has elected Tamara INGRAM as director effective July 19, 2019. With Tamara INGRAM's election, the Company's Board will consist of 13 directors.
AXA XL, the property, casualty and specialty risk division of AXA announced three senior appointments to the London Reinsurance team, Megan KEMPE, Nick PASCALL and Conor GAFFNEY. The appointees will be based in London and report to Rob LITTLEMORE, CEO of London Reinsurance.
The Italian insurer, GENERALI announced the acquisition of a local insurance company and service platform from APOLLO GLOBAL MANAGEMENT. The purchase makes GENERALI the second largest non-life group in the country with a market share of 18.7% and the third largest player in the whole market.
Global reinsurer MUNICH Re has estimated that insured losses resulting from natural catastrophes totaled USD 15 billion in the first half of 2019, below the long-term average of USD 18 billion.
On 30 July 2019, the international rating agency Standard & Poor's (S&P) again confirmed its rating for Vienna Insurance Group of A+ with stable outlook in a press release.
After five years of service Petr STEPAN decided to pursue new career opportunities outside of VIG Group. He will be succeeded by Ales MIRNIK, who joins VIG Re as the new Head of Central & Eastern Europe department effective 8th of August 2019.
AVIVA has appointed Patrick FLYNN as an Independent Non-Executive Director with effect from 16 July 2019. He will also join the Board Audit, Risk and Nomination Committees.
AON announced that its Board of Directors has approved the appointment of Darren ZEIDEL as the firm's Executive Vice President, General Counsel and Company Secretary, effective July 12, 2019.
Elisabeth Stadler, CEO and chairwoman of the listed Vienna Insurance Group (VIG), was awarded the Grand Decoration of Honour in Silver for Services to the Republic of Austria, under a resolution adopted by the country's President on 23 April 2019. The award was presented on 9 July 2019 by the Federal Minister for Digital and Economic Affairs, Elisabeth Udolf-Strobl.
Swiss Re announced the suspension of its previously communicated plans for an initial public offering (IPO) of ReAssure. "This action is in response to the heightened caution and weaker underlying demand in the UK primary market from large institutional investors", as the global reinsurer mentioned in a statement.
On July 9, AXA announced the appointment of Renaud GUIDEE as Group Chief Risk Officer. Currently Managing Director at Goldman Sachs in France, he will join AXA in September 2019, subject to regulatory approval.
ZURICH Insurance Group has appointed Alison MARTIN to the role of Chief Executive Officer Europe, Middle East & Africa (EMEA) and Bank Distribution with immediate effect. She succeeds Amanda BLANC who recently left the business (more details here
). The appointment is subject to regulatory approval.
Global insurance premiums passed USD 5 trillion for the first time ever in 2018, a figure which represents 6% of world gross domestic product, the latest sigma report from Swiss Re Institute shows.
ALLIANZ Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of ALLIANZ Group, announces the appointment of Melanie GILLIG (currently Regional Head of HR for Central & Eastern Europe (CEE) as Global Head of Human Resources (HR) effective January 1, 2020.
LLOYD's of London announced today that Jennifer RIGBY has been appointed Chief Operations Officer (COO).