News - Re/Insurance groups
Sava Group expects to achieve a FY2023 net profit of at least EUR 53 million
In 2023, the Slovenian Sava Insurance Group plans to generate more than EUR 800 million in operating revenue (gross premiums written plus other operating revenue), representing a 4% growth compared to 2022, with growth planned across all markets where the Group is present.
Generali Ceska pojistovna retained its 'A' financial strength rating with a stable outlook
Generali CEE Holding announced in a statement that the international rating agency AM Best has confirmed Generali Ceska pojistovna's financial strength rating of 'A' and long-term credit rating of 'A+'. "In addition, both ratings were confirmed with a stable outlook. As in previous years, the rating is a confirmation of the strength and stability of the largest Czech insurance company".
NN Group completes the legal mergers of the former MetLife businesses in Poland and Greece
On 2nd January 2023, NN Group announced that it has completed the legal mergers of the former MetLife businesses in Poland and Greece.
WTW appoints Evan Freely as new Global Head of Financial Solutions
Global re/insurance broker WTW (Willis Towers Watson) announced that Evan Freely has joined WTW as its new Global Head of Financial Solutions, reporting to Alastair Swift, Head of Global Lines of Business, Risk & Broking, WTW.
GC: challenging Jan 1 renewals reflect a market seeking new equilibrium
January 1 renewals are proving to be one of the most challenging reinsurance markets the sector has experienced, as reinsurers and cedents work to establish a new market equilibrium, according to global reinsurance broker Guy Carpenter, a business of Marsh McLennan.
The war in Ukraine slows growth but strengthens the resilience of the global re/insurance industry
The year 2022 can be characterized as one of the most challenging years in recent decades from the social, financial, political environment points of view, the word "crisis" characterizing better than ever a period of twelve months.
KBS: Global economy is headed for a significant slowdown of growth
The global economy is headed for a significant slowdown of growth with many major and European economies moving into mild recessions, Belgian financial group KBC informed in a statement.
Munich Re expands Board of Management and appoints Michael Kerner to lead the news division
Munich Re has established an additional Board division- Global Specialty Insurance (GSI) division that will be headed by Michael Kerner (57 years), newly appointed to the Board of Management, with effect from 1 January 2023, the reinsurer announced.
Munich Re announces profit guidance per IFRS 17 of EUR 4.0 billion for 2023
Based on its ongoing good operating performance, Munich Re aims for a consolidated profit of around EUR 4.0 billion for the 2023 financial year under the new reporting standard IFRS 17, most of most of it coming from the reinsurance activity, the reinsurer announced.
Aegon reduces investment exposure to Russia to practically zero
Dutch insurance group Aegon announced it has sold its exposure as an investor to Russia. On March 8 of this year, shortly after the Russian invasion of Ukraine, Aegon announced that it had started winding down its already negligible investments in Russia.
Allianz to invest in Finnish green hydrogen and power-to-gas developer Ren-Gas
Allianz Capital Partners, on behalf of Allianz insurance companies, has signed an agreement to acquire a minority stake in the Finnish project developer Ren-Gas.
CFO Kees van Kalveen to leave NN Bank
Kees van Kalveen, CFO at Nationale-Nederlanden Bank (NN Bank) will leave the company on 1 January 2023 to pursue his career outside Nationale-Nederlanden. The Dutch bank announed it has already started the process to find a successor.
Martin Zschech to lead Global Industry Solutions & Client Management team at AGCS
Allianz Global Corporate & Specialty's (AGCS) announced Martin Zschech, current Regional Head of Distribution - CEE region, will be appointed Global Head of Industry Solutions & Client Management effective January 1, 2023.
MMC's Chief Inclusion & Diversity Officer recognized as Most Influential Black Executives in Corporate America
Moreland Murray, Chief Inclusion & Diversity Officer at Marsh McLennan, has been recognized by Savoy magazine as one of 2022's Most Influential Black Executives in Corporate America.
Swiss Re proposes new members to join its BoD
Global reinsurer Swiss Re proposes to elect Vanessa Lau and Pia Tischhauser as new Board members at the 2023 AGM, on 12 April. Current Board members Renato Fassbind and Susan L. Wagner will not stand for re-election, the reinsurer informed.
Talanx raises its sights significantly for period up to 2025
The Talanx Group announced is significantly raising its sights for the next three years with its new Strategy 25: "the goal is for the Group's return on equity to permanently exceed 10%".
Zavarovalnica Triglav announced the resignation of two SB members
Slovenian Zavarovalnica Triglav announced on the Ljubljana Stock Exchange website the resignation of Supervisory Board (SB) members Branko Bracko and Peter Kavcic, after receiving their resignation notifications on 9 December.
VIDEO: Insurer's contribution to ESG, with Petra Riegler and Dieter Pscheidl, VIG
"From a business perspective, it is important to understand that ESG not as a luxury, it is not Louis Vuitton of the insurance sector, it is the textile bag that you need every day to do shopping, so it is really something fundamental that is of use," Dieter Pscheidl, Head of European Affairs and ESG for Vienna Insurance Group (VIG) explained in second episode of the XPRIMM TIME FOR BUSINESS series dedicated to ESG issues.
S&P confirms excellent rating for VIG
The international rating agency Standard & Poor's (S&P) once again confirmed Vienna Insurance Group's (VIG) rating of "A+" with a stable outlook in its press release on 1 December 2022. Vienna Insurance Group thus remains one of the companies with the best rating in the Austrian Traded Index (ATX) of the Vienna Stock Exchange.
Zurich completes sale of Italian life and pensions back book to GamaLife
Zurich Insurance Group (Zurich) announced that its subsidiary Zurich Investments Life S.p.A. has completed the sale of its life and pensions back book, composed of both traditional and unit-linked policies, to the Portuguese insurance company GamaLife - Companhia de Seguros de Vida, S.A. (GamaLife).
11 January 2023