Roland VOGEL, the CFO of German reinsurer Hannover Re, is retiring from the company on September 30th, 2020 after more than 30 years at the company. He will be succeeded by Clemens JUNGSTHOFEL, the current CFO of HDI Global SE.
CHUBB announced that Gina REBOLLAR has been named Deputy General Counsel, Global Corporate Affairs, with immediate effect. She succeeds Chris KEARNS, who is relocating to the West Coast to pursue other interests. Chris KEARNS will serve as a consultant to CHUBB through the end of 2020.
At the end of the first half of 2020, AXA Group registered total gross revenues in amount of EUR 52.4 billion, down 2% (at constant Forex) compared to 1H2019, reflecting a 4% growth during the first quarter of 2020 and a 10% decline in the second quarter in the context of Covid-19 pandemic.
For the second quarter of 2020, from April to June, Fairfax Financial Holdings announced net earnings of USD 435 million, compared to net earnings of USD 494 million in the second quarter of 2019.
In the second quarter of 2020, Munich Re generated a consolidated profit of EUR 579 million, 41.7% smaller compared to the value recorded in the second quarter of 2019. COVID-19 related-losses totaled EUR 700 million, dragging the profit down.
During the second quarter of 2020, ERGO, part of Munich Re, generated a sizeable profit of EUR 173 million (+27.4%) in its field of business, while for the January-June 2020 period, it's consolidated profit reached EUR 245 million (+11.4%).
A MetLife study shows that, despite the current global environment, nearly one-third of employees are still willing and interested in expat work assignments, but employer support is needed.
Against the background of the Covid-19 pandemic, MUNICH Re and the FRAUNHOFER-GESELLSCHAFT launched the Give a Breath Challenge in March of this year. They aim to promote innovative ideas that can help people who have contracted the new coronavirus, contributing their own expertise and networks, and funding totalling EUR 1 million.
Guy Carpenter & Company, part of Marsh & McLennan Companies (MMC), announced the appointment of Peter Askew as President and CEO, of Guy Carpenter's Canadian business, with immediate effect.
CHUBB Limited today announced management changes to its life and general insurance operations in Asia.
Dutch insurer ACHMEA announced on 10 July 2020, the Supreme Court of the Netherlands ruled in a case between ACHMEA and the Tax and Customs Administration. In its judgement, the Supreme Court has reached the same conclusion as the Court of Justice did earlier.
Austrian insurer UNIQA announced that the EU Commission has not identified any conflicts in relation to competition law and has approved the UNIQA's acquisition of AXA
in Poland, the Czech Republic and Slovakia without any conditions.
Allianz Group ended the first half of 2020 with a net income of EUR 3.1 billion, 28.2% lower than the value reported in the first half of the prior year. The decrease in the net income attributable to shareholders was largely driven by the drop in operating profit, the group reports.
Hannover Re Group ended the first half of 2020 with a net income of EUR 402 million, 39.3% lower than the same period of prior year. The operating profit (EBIT) decreased by 46.6% to EUR 504 million.
Guy Carpenter & Company, part of Marsh & McLennan Companies (MMC), announced the appointment of three new members to its Executive Committee.
For the second quarter of this year, from April to June 2020, Marsh & McLennan Companies (MMC) reported a net income attributable to the company of USD 572 million, 72% more than in the second quarter of 2019.
Aon plc ended the second quarter of 2020 (April - June) with a net income attributable to the company of USD 397 million, 44% more year-on-year. Net income per share from continuing operations attributable to Aon shareholders, adjusted for certain items, increased 5% to USD 1.96, (2Q2019: USD 1.87).
For the first six months of 2020, Swiss Re reported a net loss of USD 1.1 billion, after booking claims and reserves related to COVID-19 of USD 2.5 billion. Excluding the impact of COVID-19 losses, net income amounted to USD 865 million for the period, reflecting a strong underlying business performance across the group.
GENERALI CEE Holding announced a strategic two-fold cooperation with 4Life Direct in Poland: "4Life Direct becomes the agent of GENERALI in Poland and further, the cooperation includes a proposal for holders of over eighty thousand Polish policies from the company's partner from Gibraltar - to come under the wings of the Venetian lion".
Generali Group ended the first half of 2020 with a net profit of EUR 774 million, 56.7% smaller year-on-year. The profit was affected by EUR 226 million of net impairments on investments related to the performance of the financial markets, EUR 183 million for the arbitration settlement for the sale of BSI and the contribution of EUR 100 million to the Extraordinary International Fund for the pandemic emergency.