News - Re/Insurance groups

AM Best affirms Credit Ratings of Bosna Reosiguranje d.d. Sarajevo

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 and Western Union to collaborate to provide inclusive insurance

AXA announced the launch of a collaboration with The Western Union Company to provide inclusive insurance products to Western Union's customers using its service. By linking insurance to money transfer services, the two groups will help to better cover migrant workers and their families at home.

Swiss Re Corporate Solutions announced collaboration with LocalTapiola

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.

Moody's assigns A3 rating to Peak Re, outlook stable

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.

ERGO Group enters China's P&C market through strategic investment in TAISHAN Insurance

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.

AXA XL appointed Xavier Veyry as CEO Asia and Europe

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.

VIG has invested in APEIRON Biologics AG

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".

WICKE to take over as CFO of TALANX in September 2020

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 appoints new President in Canada

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.

COVID-19: GENERALI donates 100,000 euros to the Fire Eye laboratory and the Government of the Republic of Serbia

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.