News - Re/Insurance groups



UNIQA announced leaner Management Board structure from July 2024

Austrian insurer UNIQA informed that, as the Supervisory Board decided at its meeting on 22 November, the Management Board team, which will continue to be identical for the listed UNIQA Insurance Group AG and its subsidiary UNIQA Osterreich Versicherungen AG, will comprise seven instead of nine members in future.

VIG increases its share of Hungarian business from 55% to 90%

On November 21, 2023, Vienna Insurance Group (VIG) signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which are currently held by the Hungarian state holding company Corvinus. After completion of the transaction, VIG's share in the holding company will increase from 55 to 90%.


Sava reported 9 months growth in business volume and profits

Slovenian insurance group Sava reported 3Q2023 13.7% y-o-y increase in business volume to EUR 711.2 million, while the net profit increased slightly to EUR 36.5 million (3Q2022: EUR 35.0 million), “a similar level to that of the first nine months of last year, despite this year’s major claim events”.

S&P confirms UNIQA rating and expects further growth

Austrian insurance group UNIQA informed that the international rating agency Standard & Poor's (S&P) confirms UNIQA’s rating in its current report: the "A" ratings for UNIQA Osterreich Versicherungen AG and UNIQA Re AG and the "A-" rating for UNIQA Insurance Group AG, all with a stable outlook.

VIG created the CO3 Department to strengthen the collaboration within the Group

Austrian insurer VIG - Vienna Insurance Group informed is strengthening exchange between its Group companies with the newly created department “CO3” – communication, collaboration & cooperation. “The focus is on boosting cross-border know-how sharing as well as on intensifying cooperation between VIG companies located in the same country, thereby enhancing the local multi-brand strategy”.


Talanx expects rise in profits to more than EUR 1.7 billion for 2024

German insurance group Talanx informed it generated Group net income of EUR 1.28 billion in the first nine months of 2023 and has lifted its full-year earnings forecast to “significantly more than EUR 1.5 billion” on the basis of its strong operating performance.




Zurich enters Indian general insurance market with Kotak Mahindra Bank

Zurich Insurance Group announced a strategic alliance with Kotak Mahindra Bank Limited, India’s third largest private sector bank by market capitalization, through the proposed acquisition of a 51% stake in Kotak Mahindra General Insurance Company Limited for USD 488 million, through a combination of fresh growth capital and share purchase (subject to regulatory approvals and customary closing adjustments).


AIG completes sale of Validus Re to RenaissanceRe

American International Group announced that is has successfully completed the previously announced sale of Validus Re to RenaissanceRe. AIG received total consideration of USD 3.3 billion in cash, including a pre-closing dividend, and approximately USD 275 million in RenaissanceRe common shares.

Adris grupa posted growth of Q3 revenue and net profit

In the first nine months of 2023, Adris grupa - grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region)- recorded EUR 815 million in total revenue, which is 15% higher compared to the same period last year.