News - Re/Insurance groups
VIG successfully invests half a billion euro in green and social projects
Within the first year of the EUR 500 million Senior Sustainability Bond, being issued in March 2021, Austrian insurer Vienna Insurance Group (VIG) informed it was able to allocate 100% of the bond's net proceeds to green and social projects.
Generali launches Art Insurance in Austria
Italian insurer Generali announced the launch of tailor-made product solutions for private art collectors on Austrian insurance market. Generali representatives mentioned that "with the new offer "ARTE Generali Private Kunst", Generali Versicherung is expanding its modular product range".
Vienna Insurance Group launches cooperation with GROPYUS to provide ecosystem for sustainable and affordable housing
Vienna Insurance Group (VIG) has signed a cooperation agreement with Vienna-based international PropTech company GROPYUS. VIG Group is supporting GROPYUS with insurance, assistance services, financing, and the company's planned expansion to Central and Eastern Europe.
Euler Hermes became Allianz Trade aiming to better benefit from the reputation and strength of the Allianz Group
On 29 March Euler Hermes, the world leader in trade credit insurance, operating in 52 countries, became Allianz Trade - a natural move as it has been fully part of the Allianz Group since 2018. The company will benefit even more from the reputation and strength of the Allianz Group
Revolut joins forces with Allianz Partners to expand travel insurance services offered to its Premium or Metal Account customers
As of April 2022, Allianz Partners will provide its comprehensive travel insurance services to customers of the global financial super-app Revolut who hold a Premium or Metal Account, initially in 31 markets across The EEA and the UK.
Eurohold owns 99% of CEZ Distribution and 97% of CEZ Electro
The energy subholding of Eurohold Bulgaria AD - Eastern European Electric Company B.V. (EEEC), which acquired CEZ Group's companies in Bulgaria in 2021, lifted the stake it holds in the capital of CEZ Distribution Bulgaria AD and CEZ Electro Bulgaria AD to nearly 99% and 97%, respectively.
Generali terminate the employment of the suspended ACEE Regional Officer
Italian insurer Generali announced its Board of Directors has taken the decision to terminate the employment of Luciano CIRINA, Austria & CEE (ACEE) Regional Officer, with immediate effect.
Generali controls its Indian life joint venture with 68% stake
Italian insurer Generali announced it now controls its life joint venture in India with 68% stake after it completed the acquisition of the entire stake (around 16%) held by Industrial Investment Trust Limited (IITL) in Future Generali India Life (FGIL) and the subscription of additional shares in FGLI, following receipt of all necessary approvals from the relevant regulatory and competition authorities.
GrECo announces important changes in the Group's management for 2023
GrECo International Holding is reorganizing its Executive Board and Supervisory Board, with retiring Friedrich Neubrand, company founder and long-standing Chairman of the Supervisory Board being replaces by his son, Friedrich Neubrand jun. from mid-2023.
Lloyd's reports return to profit and estimates major claims from Ukraine war
Lloyd's of London announced a strong return to profitability in its FY 2021 results, with an overall profit of GBP 2.3 billion, vs. a loss of GBP 0.9 billion a year before, and a combined ratio of 93.5% (vs. 110.3% in 2020 or 97.0% excluding COVID-19) - the best quality result reported for six years.
Oman Insurance acquires life insurance portfolio in the UAE from Generali
Oman Insurance Company acquires UAE Life insurance portfolio from Assicurazioni Generali S.p.A.
Changes in the ERGO HESTIA Management Board
ERGO HESTIA, one of the largest insurers in Polish insurance market announced that, after 31 years, its Vice President - Grzegorz SZATKOWSKI will leave the company.
Groupama posted strong growth in annual results for 2021
French insurer Groupama posted FY2021 combined premium of EUR 15.5 billion, up by 7.5% vs. 2020 figure. Life and health insurance increased by 10.6% to EUR 7.8 billion, while property and casualty insurance business was up by 4.0% y-o-y to EUR 7.5 billion. At the same time, the Financial businesses Division generated premium income of EUR 240 million, including EUR 233 million from Groupama Asset Management and EUR 6 million from Groupama Epargne Salariale.
SCOR postpones its Investor Day date to July 2022, currently focusing on the impact of Russia's invasion of Ukraine on its activity and protection of its employees
In light of the geopolitical situation and the humanitarian and global impacts of the war in Ukraine, SCOR has decided to postpone its Investor Day, initially scheduled for March 29, for July 2022.
Triglav exposure to Russian-Ukrainian crisis is limited
Slovene re/insurance group Triglav announced its operations are to some extent exposed to the situation resulting from the war in Ukraine and related sanctions against Russia and Belarus.
The Russian-Ukrainian crisis has no impact in CO business
Croatia largest insurer Croatia Osiguranje announced has no direct operations in insurance and reinsurance business with Russia and Ukraine - nor with reinsurance companies, brokers, MGA agencies, etc., thus the impact of the Russian-Ukrainian crisis, as well as sanctions imposed on Russia - have no impact on the Company's operations.
Hannover Re, FY2021: net income up by 39% despite higher than average NatCat expenses and considerable pandemic-related losses
Despite considerable losses both in P&C and L&H reinsurance, Hannover Re generated Group net income of EUR 1.23 billion for the 2021 financial year, achieving its profit target.
VIG Re, FY2021: Profitable growth despite record natural catastrophe losses
VIG Re reported profit before taxes of EUR 26.8 million, up by 19% y-o-y, an all-time high, while gross written premium reached EUR 661 million, up by 14.2% y-o-y. The Net combined ratio stood at 96.1%, impacted by weather related losses in Continental Europe.
Learn more about the reinsurance business with CCR Re
After more than 3,500 market professionals in over 30 countries have benefitted from the reinsurance basic course started last year by CCR Re, this year the reinsurer continues, starting 15 March, with a new series of tutorials.
CCN Group strengthens its strategic position by acquiring APRIL Deutschland
Astrea, an MGA brand of the Claims Corporation Network (CCN) Group has acquired APRIL Deutschland AG from the French APRIL SAS of Lyon. This acquisition has been made to strengthen CCN's core business lines, which include third-party administration (TPA), MGA and insurance services.
11 April 2022