Marsh & McLennan
cemented its first-place position in Best's Review's Top Global Insurance Brokers
ranking with the acquisition of Jardine Lloyd Thompson Group
in 2019. Marsh
's total revenue jumped to USD 17 billion compared to 2018's USD 14.95 billion.
The Human Safety Net, Generali's global initiative for unlocking the potential of people living in vulnerable contexts, has published a first activity report, sharing its two-year journey of growing Generali's social impact in the communities where the Group is present in Europe, Asia and Latin America.
In a battle of big ideas, eight of the best and brightest startups competing in the Zurich Innovation Championship 2020 have been selected to advance to the final in October.
Assicurazioni Generali S.p.A. (Generali) has placed a new Euro denominated Tier 2 bond due in July 2031, issued in the form of green bond pursuant to the terms of the Offeror's Green Bond Framework.
Chubb Limited announced global net catastrophe loss estimates for the second quarter of 2020 of USD 1,807 million pre-tax, or USD 1,510 million after tax. These estimates include COVID-19 global pandemic losses of USD 1,365 million pre-tax (USD 1,157 million after tax), and other natural catastrophe losses of USD 312 million pre-tax (USD 249 million after tax)
UNIQA has successfully placed two bonds with a volume of EUR 800 million - EUR 600 million to fund its purchase of AXA CEE subsidiaries and EUR 200 million in a green bond format. "Investor's demand for the offering was exceptionally high with the senior bond being more than 5 times oversubscribed and the Green Tier II issuance more than 9 times", as the Austrian insurer mentioned in a statement.
International General Insurance Holdings Ltd. (IGI) announced the appointment of Ian Noble as Head of Casualty and Professional Lines. Noble has 34 years' broking and underwriting experience in Professional Lines in the Lloyd's of London and company markets, and most recently serving as Senior Class Underwriter - Professional Indemnity at Chaucer in London.
Generali announced a buyback offer for three Series of Notes with first call dates in 2022, targeting the purchase of up to an aggregate principal amount of notes expected to correspond to the aggregate principal amount of new Tier 2 subordinated notes to be issued by Generali.
The Croatian holding ADRIS Grupa and the shareholder of the largest Croatian insurer - CROATIA osiguranje, have lost the legal battle in Supreme Court due to an increase in their stake in Slovenian SAVA Re, informed local media.
Franz Fuchs (66) will resign from his position as member of the Managing Board of Vienna Insurance Group (Wiener Versicherung Gruppe) at the end of June 2020. In recognition of his achievements, he was appointed Deputy General Manager in October 2019.
GENERALI announced that Maciej FEDYNA was nominated new President of the Management Board and CEO of GENERALI Poland companies as of 1 July 2020. Maciej FEDYNA, former Chief Financial Officer of GENERALI Poland, will succeed Andrea SIMONCELLI who was appointed as new Chairman of the Supervisory Boards of GENERALI T.U. S.A., GENERALI Zycie T.U. S.A and GENERALI Finance Sp. z o.o.
GENERALI Slovakia donated innovative UVD robots for highly-efficient disinfection of the premises to five Slovak hospitals. The germicidal robots are very helpful for the hospitals not only during the coronavirus pandemic but also in daily safeguarding the high hygienic standards needed in the health facilities.
Slovene insurange group TRIGLAV announced Natasa DAMJANOVIC, a Supervisory Board member of Zavarovalnica TRIGLAV, resigned as a Supervisory Board member of Zavarovalnica TRIGLAV on 18 June 2020 due to commitments related to her new employment.
Italian Group Generali announced it has committed to becoming a major shareholder, acquiring 24.4% of Cattolica, through a reserved share capital increase for EUR 300 million, subject to the transformation of Cattolica into a joint-stock company.
While announcing many of the Munich Re's offices are gradually and carefully reopening worldwide, the German group has also shared its assessment on the impact of the Corovirus pandemic on business, confirming a high probability of not reaching the EUR 2.8 billion profit guidance for 2020.
The Italian group GENERALI informed its Slovenian asset management arm - GENERALI Investments Slovenia - is in the process of acquiring ILIRIKA FM AD SKOPJE by merger with GENERALI Investments AD Skopje, a subsidiary of the oldest asset management company in Slovenia, GENERALI Investments. GENERALI mentioned the transaction is subject to relevant regulatory and competition approval.
Dutch financial group AEGON has appointed Duncan RUSSELL in the newly established role of Chief Transformation Officer (CTO), effective September 1, 2020. He will report to CEO Lard FRIESE and will become a member of AEGON's Management Board. The appointment has been approved by the relevant regulatory authorities.
AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "bb+" from "bbb-" of Milli Reasurans Turk Anonim Sirketi (Milli Re) (Turkey). The outlook of these Credit Ratings (ratings) has been revised to stable from negative.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" of the property/casualty subsidiaries of the Hanover Insurance Group, Inc. (THG). The outlook is stable.
Swiss Re announced today the appointment of Thierry Leger as the Group Chief Underwriting Officer, effective 1 September 2020. He succeeds Edi Schmid, who has decided to step down from the Group Executive Committee for personal reasons and take on an advisory role.