News - Re/Insurance groups

Zurich to sell its Italian life and pensions back book to GamaLife

Zurich Insurance Group (Zurich) announced that its subsidiary Zurich Investments Life has agreed to sell its life and pension back book, composed of both traditional and unit-linked policies, to the Portuguese insurance company GamaLife - Companhia de Seguros de Vida (GamaLife).

S&P's again confirms rating "A+" with stable outlook for VIG

The international rating agency Standard & Poor's (S&P) again confirmed its rating for Vienna Insurance Group of "A+" with a stable outlook in a press release on 22 December 2021. Vienna Insurance Group thus remains the company with the best rating of all companies listed in the ATX of the Vienna Stock Exchange.

AXA has completed the sale of AXA Bank Belgium

AXA announced today that it has completed the sale of its Belgian banking operations, AXA Bank Belgium, to Crelan Bank NV/SA, for a total consideration of EUR 691 million, comprised of a net cash consideration of EUR 611 million, and the transfer to AXA Belgium of 100% of Crelan Insurance - valued at EUR 80 million.

Aegon to repurchase shares for share-based compensation plans

The Dutch insurance group Aegon announced that it will repurchase common shares for an amount of EUR 50 million to meet its obligations resulting from the 2021 and 2022 share-based compensation plans for senior management. The repurchased shares will be held as treasury shares until they are allocated to the plan participants.

Swiss Re Institute: 2021 global insured CAT losses rise to USD 112bn

Swiss Re Institute estimates global insured losses of USD 112 billion in 2021, of which USD 7 billion man-made disasters, while annual insured losses from natural catastrophes are estimated at USD 105 billion, the fourth highest since 1970. While Hurricane Ida was the costliest natural disaster in 2021, winter storm Uri and other secondary peril events caused more than half of total losses as wealth accumulation and climate change effects in disaster-prone areas drive claims.

Lloyd's Asia launches new renewable energy consortium

Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions, has launched a new renewable energy consortium, to respond to the growing needs of the APAC region and supporting countries, as they transition to greener energy solutions.

SCOR's Actuarial Awards for 2021 went in five countries

As every year since 1996, SCOR presented its Actuarial Awards also in 2021. This year's awards rewarded the best academic work in the field of actuarial science in five countries: Germany, France, Italy, Sweden and Switzerland.

AGCS appoints Shanil Williams to Chief Underwriting Officer Corporate

Allianz Global Corporate & Specialty SE (AGCS) announced it has appointed Shanil WILLIAMS as new Chief Underwriting Officer Corporate. In this role, he will join the AGCS SE Board of Management with effect on January 1, 2022, subject to regulatory approval. Currently Global Head of Financial Lines at AGCS, WILLIAMS will succeed Tony BUCKLE who will be leaving Allianz for personal reasons.

Generali launches Lifetime Partner 24: Driving Growth

Last week, the Board of Directors of Assicurazioni Generali approved the Group's new three-year strategy: Lifetime Partner 24: Driving Growth. The plan will deliver sustainable growth across Generali's core and emerging business lines and build on the strong foundations established since 2016.

Popescu to succeed Eijsink as CEO of NN Life Japan

Frank EIJSINK, currently CEO of NN Life Japan, will be appointed CEO of NN Belgium as of 1 February 2022, subject to regulatory approval. He will succeed Jan Van AUTREVE who has decided to leave NN Group. Marius POPESCU, currently Head of Performance and Analytics NN Group, will be appointed CEO of NN Life Japan as of 1 February 2022, subject to regulatory approval.

AGCS names YEE global TMT solution director

Effective January 1, 2022, Jody YEE will be appointed Global Industry Solution Director for Technology, Media & Telecom (TMT) at Allianz Global Corporate & Specialty (AGCS).

AIG names Rose Marie GLAZER Chief Human Resources Officer

American International Group announced that Rose Marie GLAZER, currently Senior Vice President, Deputy General Counsel and Corporate Secretary, has been promoted to Executive Vice President & Chief Human Resources Officer, effective January 1, 2022. Rose Marie GLAZER will report to Peter ZAFFINO, President & Chief Executive Officer, and will join AIG's Executive Leadership Team.

Swiss Re to sell elipsLife to Swiss Life International

Global reinsurer Swiss Re announced that it has agreed to sell its life insurance subsidiary elipsLife to Swiss Life International and to enter into a long-term reinsurance partnership for elipsLife's in-force and new business.

AGCS strengthens its market-facing leadership team

Allianz Global Corporate & Specialty (AGCS) - the corporate insurance carrier of ALLIANZ Group announced is strengthening its leadership team "to support the company's 'pivot to growth', following its successful remediation program. It is attracting both internal talent as well as high-profile external hires to executive positions in its regional management, underwriting and risk consulting functions, all in market-facing roles".