News - Re/Insurance groups

Guy Carpenter appoints Canada President and CEO

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.

Aon, 2Q2020: Net income went up 44% year-on-year

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).

POLAND: Strategic cooperation of GENERALI with 4Life Direct

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, 1H2020: GWP slightly increased, exceeding EUR 36 billion

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.

MAPFRE, 1H2020: Group's revenues stood at EUR 13 billion

MAPFRE's revenue for the first six months of this year amounted to EUR 13.3 billion, an 11.8% decrease compared to the same period last year, while premiums totaled 11.0 billion euros (-12.3%). This decrease falls within the context of the economic downturn caused by the COVID-19 crisis, which began in mid-March and intensified throughout the second quarter of the year, affecting all countries.

ERGO and BMW Bank are starting a strategic cooperation

ERGO Group and BMW Bank agreed on strategic cooperation in the German car dealership sector. Within this framework, both companies aim to develop digital insurance and mobility services in the future.

PartnerRe appoints Jacques Bonneau as President and CEO

PartnerRe announced the appointment of Jacques Bonneau as its President and Chief Executive Officer (CEO), effective from July 28, 2020. Bonneau succeeds Emmanuel Clarke, who is leaving the Company by mutual agreement to pursue other opportunities outside the Group.

AM Best affirms credit ratings of CCR and CCR RE

AM BEST affirmed the A+ ("Superior") Financial Strength Rating of Caisse Centrale de Reassurance (CCR) and the A ("Excellent") Financial Strength Rating of CCR Re. The outlooks of both companies remain stable.

QIC, 1H2020: Group's GWP expanded by 13% y-o-y

In the first half of 2020, Qatar Insurance Company (QIC) was adversely impacted by the effects of COVID-19 pandemic on global economies and financial markets. Despite these challenging market conditions, QIC expanded its Gross Written Premium by 13%. Furthermore, QIC successfully issued a USD 300 million perpetual subordinated Tier 2 capital notes in the second quarter of 2020.

PartnerRe, 2Q2020: Net income stood at USD 229 million despite pandemic challenges

For the second quarter of 2020, PartnerRe reported a net income available to common shareholder of USD 229 million, 19.6% lower year-on-year. This figure includes net realized and unrealized investment gains of USD 238 million on fixed maturities and short-term investments, primarily due to decreases in worldwide credit spreads, and USD 35 million of net foreign exchange losses.

Guy Carpenter appoints Managing Director of Global Risk Solutions

Guy Carpenter announced the appointment of Andrea Piatti as a Managing Director, Global Risk Solutions, effective 3 August. Mr. Piatti will be responsible for originating and driving opportunities to better serve the clients in the customized reinsurance space across Europe and MENA, including structured reinsurance treaties and capital management/solvency-related transactions.