News - Re/Insurance groups

Aon reported Q3 loss of USD 900 m following WTW deal exit costs of USD 1.3 bn

Re/insurance broker Aon reported a net loss of USD 900 million at the end of September 2021 vs. a net profit of USD 275 million in the prior year period, and an Q3 operating loss of USD 801 million, "due primarily to a USD 1.3 billion increase in charges related to terminating the combination with Willis Towers Watson and related costs", as the company's officials mentioned in a statement.

CO shareholder posted 9 months increasing revenues and profits

Croatian conglomerate ADRIS Grupa with business in tourism, food production and insurance (Croatia osiguranje) - achieved a total consolidated income of HRK 4.51 billion (~EUR 0.6 billion) in the first nine months of 2021, 23% higher compared to the same reporting period last year, the holding announced in a statement.

AIG announced senior leadership changes

American International Group announced senior leadership changes that "further position the organization to deliver strong financial and operational performance over the long term and enhance its leadership team as part of the separation of the Life & Retirement business".

Swiss Re reports 9 months net income of USD 1.3 billion

Global reinsurer Swiss Re has reported net income of USD 1.3 billion for the first nine months of 2021, driven by the performance of its property and casualty businesses, "despite significant large-loss events, particularly in the third quarter. Swiss Re's capital position remained very strong, with a Group SST ratio of 234% as of 1 July 2021". The reinsurer has reported a return on equity (RoE) of 6.6% for the nine month period, while net premiums earned and fee income for the Group increased by 5.9% to USD 32 billion.

WTW reports end-September revenue growth

Re/insurance broker Willis Towers Watson (WTW) posted solid Q3 2021 financial results. Thus, Q3 revenue was USD 1.97 billion, an increase of 4% as compared to USD 1.90 billion while 9 months revenue was USD 6.29 billion vs. USD 5.95 billion for the same period in the prior year.




Aviva announced directorate change

Aviva announced the appointment of Martin STROBEL as Independent Non-Executive Director of the Company with effect from 22 October 2021.

Leadership changes at Allianz Africa

German insurer Allianz announced starting with November 1, 2021, Delphine TRAORE (COO and Board Member of Allianz Africa) will succeed Coenraad VROLIJK as Allianz Africa Regional CEO.

MMC posted Q3 revenue of USD 4.6 billion

Global re/insurance broker MMC posted Q3 2021 aggregate revenue of USD 4.6 billion, an increase of 16% compared with the third quarter of 2020. Q3 operating income was USD 740 million, an increase of 37% from the prior year while net income attributable to the Company was USD 537 million, or USD 1.05 per diluted share, compared with USD 0.62 in the third quarter of 2020.

Generali Poland has a new CFO

Beata SIWCZYNSKA-ANTOSIEWICZ is the new Generali Poland CFO, Generali CEE Holding announced in a statement on its website. She takes up the position of Member of the Management Board of Generali Poland as well.

Ileana DAMIAN to become the new COO in Generali Romania

Ileana DAMIAN has received the Romanian insurance regulator's approval to take over the position of Chief Operations Officer within Generali Romania, as Generali CEE Holding announced in a statement. She is replacing Daniela COVACESCU who resigned from her position. Ileana DAMIAN is becoming a member of the Board as well.




CHUBB to acquire CIGNA business in Asia & Turkey for USD 5.75 bn

Chubb Limited - the world's largest publicly traded P&C insurer with operations in 54 countries and territories - announced a definitive agreement to acquire personal accident, supplemental health and life insurance business of Cigna in seven Asia-Pacific markets for USD 5.75 billion in cash.


Achmea's shareholders approved the appointment of Tjahny BERCX as new SB member

Dutch insurer Achmea announce its Shareholders approved the appointment of Tjahny BERCX as a member of Achmea's Supervisory Board for a period of four years. The appointment has been approved by the Dutch Central Bank (DNB). Tjahny BERCX fills the vacancy that arose when Mijntje LUCKERATH stood down in April.