AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Bosna Reosiguranje d.d. Sarajevo (Bosna Re) (Bosnia and Herzegovina [BH]). The outlook of these Credit Ratings (ratings) remains stable.
AXA announced the launch of a collaboration with The Western Union Company to provide inclusive insurance products to Western Union's customers using its westernunion.com service. By linking insurance to money transfer services, the two groups will help to better cover migrant workers and their families at home.
On 18 June 2020, Peter Skvarca was granted the Insurance Supervision Agency's licence to become a member of the management board of Sava Re.
Generali was honoured at the EFMA-Accenture Innovation in Insurance Awards 2020, the competition that showcases the most outstanding technology innovations in the insurance industry, with two out of the total of seven awards given.
Swiss Re Corporate Solutions announces a strategic agreement to bring LocalTapiola onto its International Programme Administration (IPA) platform. Additionally, the agreement gives the Finnish insurer access to Swiss Re Corporate Solutions' network of over 150 local offices and network partners. The collaboration supports LocalTapiola's ambitions to grow its corporate business book by competing as lead for international programme business.
SCOR has been informed of Standard & Poor's (S&P) decision to affirm the financial strength rating for the Group and its main subsidiaries at "AA-", with a "stable outlook".
Global re/insurance broker Aon announced the formation of a coalition of leading companies and organizations to strengthen communities and move toward societal and economic recovery in the wake of the COVID-19 pandemic.
Peak Reinsurance Company Limited, a Hong Kong-based global reinsurer, is pleased to announce that it has received from Moody's Investors Service an A3 insurance financial strength rating (IFSR); and the rating outlook is stable.
German insurer ERGO announced the signing of a shareholder's agreement and capital increase agreement to make a strategic investment in TAISHAN Property & Casualty Insurance, a Shandong-based nationwide property and casualty (P&C) insurer in China. "The deal marks a significant step by the leading German insurer to deepen and expand its services in the Chinese market", as the German insurer mentioned in a press release.
Starting July 1st, COMPENSA Vienna Insurance Group and SEESAM Insurance will complete the merger and become one insurance company. SEESAM, one of oldest insurers in the Baltics, entered the VIG family in 2008, with its life insurance unit, followed in 2018 by the acquisition of the non-life company.
AXA XL today announced that Xavier Veyry has been appointed as CEO Asia & Europe. In taking up the role, Mr. Veyry will join AXA XL's newly configured Leadership Team, reporting to Scott Gunter, CEO.
Zurich Insurance Group (Zurich) announced the successful placement of EUR 750 million of dated subordinated notes. The notes, which will mature in September 2050 and are first callable in June 2030, will be issued by Zurich Finance (Ireland) DAC.
Austrian insurer VIG informed that APEIRON Biologics AG successfully performed its planned capital increase with subscription rights and private placement, raising EUR 11.9 million on 2 June 2020. "At around EUR 7 million, Vienna Insurance Group was the anchor investor in this round of financing. Vienna Insurance Group holds a direct interest of just over 3% in APEIRON".
At a recent meeting of the Global Reinsurance Forum (GRF) Emmanuel Clarke, President and CEO PartnerRe, has assumed the role of GRF Chairman for a two-year term, succeeding Kevin O'Donnell, CEO RenaissanceRe, who became Chairman in 2018. Jean-Jacques Henchoz, CEO Hannover Re, was elected Vice Chairman.
GENERALI Global Business Lines (GBL) and GENERALI Global Corporate & Commercial (GC&C) announce key appointments to further enhance strategy execution.
German insurer TALANX informed Jan WICKE, previously responsible on the Board of Management for the Retail Germany Division, will take over as CFO as from 1 September 2020. He will replace Immo QUERNER who will leave the company on the best of terms and by mutual agreement effective 31 August 2020. At the same time, GOTHAER manager Christopher LOHMANN was appointed as Board of Management member responsible for business in Germany.
LLOYD's announced the appointment of Marc LIPMAN as President, LLOYD's Canada, and Attorney-in-Fact (AIF) for LLOYD's Underwriters. Marc LIPMAN assumes the role of AIF from Lisa DUVAL, who stepped in last year on an interim basis and now returns to LLOYD's International Regulatory Affairs in London.
Slovenian Life insurer NLB Vita becomes part of the SAVA Insurance Group —
one of the top three insurance groups in the Adria region, after on May 29 —
the two involved parties —
KBC Insurance and Nova Ljubljanska banka —
closed the transaction announced on 27 December 2019
GENERALI announced it donated EUR 100,000 to the Government of the Republic of Serbia to support the healthcare system in the fight against COVID-19 pandemic and to the Fire Eye laboratory for the purchase of lab supplies and equipment, hygiene and disinfection supplies, office supplies and furniture, for the workers' compensation and for the development of research and training potential.
GUY CARPENTER - the risk and reinsurance specialist and a business of MARSH & McLennan Companies, announced that it has entered into an exclusive multi-year agreement with SYNTHETIK to further enhance its proprietary terrorism modeling product, SUNSTONE.