News - Re/Insurance groups

AIG Appoints David McElroy CEO, General Insurance, and Executive VP

American International Group announced that David McElroy, currently President and Chief Executive Officer of the North American operations of General Insurance, has been promoted to Chief Executive Officer, General Insurance, and Executive Vice President, AIG, effective immediately.

Global Commercial insurance pricing up 19% in Q2

Global insurance broker MARSH released last week the Global Insurance Market Index for the second quarter of 2020. The increase, the largest since the index was launched in 2012, follows y-o-y average increases of 14% in the first quarter and 11% in the fourth quarter of 2019.

Everest Re, 2Q2020: Total premiums earned rose 12.4%

For the second quarter of 2020, for three months ended June 30, Everest Re Group ("Everest") reported a net income of USD 190.9 million, 42.7% lower when compared to the same period of prior year. For six months ended, from January to June 2020, the group's net income was USD 207.5 million (-69.8%).

NN Group, 1H2020: Net profit decreased in spite of rising operating result

NN Group ended the first six months of 2020 with an operating result of EUR 926 million, 1.3% higher y-o-y. First half of 2019 benefited from EUR 67 million of private equity dividends, while the current half-year included EUR 16 million of private equity dividends and non-recurring benefits.

Aviva, 1H2020: Operating profit fell 12% to GBP 1.2 billion

Between January-June 2020, Aviva secured a consolidated operating profit of GBP 1,225 million, 12% lower year-on-year (after converting to pound sterling). Basic earnings per share fell to 20.0 pence (1H2019: 28.2 pence).

LLOYD's: COVID-19 brings intangible assets into full focus

Intangible assets are an increasing proportion of companies' balance sheets, already accounting for as much as 85% of the total business value across industries according to estimates, show a report published by LLOYD's in collaboration with KPMG, urging businesses to pay attention to the new risk landscape that has evolved under COVID-19.