News - Re/Insurance groups
SCOR: Covid-19 impact on the Life side stands at EUR 268 million while in P&C was EUR 109 million in H1
In H1 2021, French reinsurer SCOR records a strong growth with gross premiums up 9.1%, strong profitability with a net income of EUR 380 million and a very strong solvency position of 245%, "demonstrating its ability to create value and its resilience", as the company mentioned in a statement.
Zoran Borac to be elected as a Member of Croatia osiguranje Supervisory Board
According to the Submission of Announcement of Convocation of the 50th General Assembly of CROATIA osiguranje d.d. which is to be held on September 9th 2021, published on the Croatian Stock Exchange website, Zoran Borac will be elected as Member of the Supervisory Board.
Marsh: Global commercial insurance pricing up 15% in Q2 2021
Global commercial insurance prices increased 15% in the second quarter of 2021, according to the Global Insurance Market Index released by re/insurance broker Marsh.
Eurohold acquired seven CEZ subsidiaries in Bulgaria for EUR 335 million
Bulgarian financial holding urohold has officially completed the acquisition of seven subsidiaries of Czech energy group CEZ in Bulgaria for EUR 335 million.
MMC posted acceleration in Q2 growth across all businesses
Re/insurance broker Marsh McLennan (MMC) posted aggregate Q2 2021 revenue of USD 5 billion, an increase of 20% compared with the second quarter of 2020. Operating income was USD 1.2 billion, an increase of 39% from the prior year. For the six months ended June 30, 2021, consolidated revenue was USD 10.1 billion, an increase of 14% compared to the prior period, while operating income was USD 2.6 billion, an increase of 32% from the prior year period.
CCN Group: 1H2021's performance entitles confidence in a positive evolution in the second part of the year
"Our first half year performance, showed solid resilience and further improved compared with 1H'20 and also compared with 1Q2021," states a recently released communication of the CCN Group mentioning "good underlying business activities and stable income and cash-flow" as well as "intensified digital transformation process" as success factors.
Lloyd's appoints Lord Sedwill to Council as Senior Independent Deputy Chair
Lloyd's announced the appointment of Mark Sedwill, Baron Sedwill of Sherborne KCMG FRGS, to Lloyd's Council and his election to the role of Senior Independent Director and Deputy Chair of Lloyd's, succeeding Andy Haste.
Aon Extends CEO and CFO Contracts to 2026
Global re/insurance brokerage firm Aon plc announced the extension of employment agreements for Aon CEO Greg Case and Aon CFO Christa Davies for an additional three years, through April 1, 2026. More information is available in the firm's 8-K, filed today with the U.S. Securities and Exchange Commission, here.
Allianz establishes new Global Commercial division
German insurance group Allianz announced effective July 1, 2021, a new division for Global Commercial insurance was established under Chris Townsend, Member of the Allianz SE Board of Management responsible for Global Insurance Lines & Anglo Markets, Reinsurance, Middle East and Africa.
PZU appointed Krzysztof Kozlowski as member of the Management Board
Polish largest insurer PZU SA announced the Company's Supervisory Board appointed Krzysztof Kozlowski to the company's Management Board, entrusting him with the function of a management board member. The resolution comes into force at the time of its adoption.
Vicky Carter to become Lloyd's first female Deputy Chair
Lloyd's announced the appointment of Vicky Carter as Deputy Chair of Lloyd's, effective 1 September 2021. Vicky Carter has sat as an elected member of Lloyd's Council since February 2019 and has worked for the Lloyd's market for 40 years.
Aon announced leadership changes in EMEA following Cullen's exit
Global re/insurance broker Aon announced three senior leadership appointments in EMEA Region following John Cullen step down from his role as Chief Executive Officer (CEO) of Commercial Risk, Health and Affinity in EMEA at the end of June.
HANFA green lighted Zeljko Lovrincevic's appointment as CO's SB member
Croatia osiguranje, the largest Croatian insurer and one of the largest insurance group in the Adriatic Region announced in a statement published on the Zagreb Stock Exchange website that HANFA (Croatian Financial Services Supervisory Agency) authorized Zeljko Lovrincevic as member of the Supervisory Board of CROATIA osiguranje.
Munich Re achieves net profit of EUR 1.7 billion in 1H and maintains its EUR 2.8 billion annual target
Munich Re achieved a preliminary net profit of around EUR 1.1 billion in the stand-alone second quarter of the year 2021 (consensus of EUR 808 million, a mean value derived from the estimates of 14 financial analysts). The half-year result amounts to around EUR 1.7 billion.
UNIQA raises its YE forecasts following H1 preliminary figures
Following preliminary H1 2021 statements, Austrian insurance group UNIQA announced is raising its FY2021 forecast. At the same time, for the first half of 2021, UNIQA estimates that earnings before taxes will exceed EUR 200 million.
Sava Re announces the election of the SB's Chairman and Deputy Chairman
On 20 July 2021, the members of the Supervisory Board of Sava Re have re-elected Davor I. GJIVOJ jr., previously member of the Supervisory Board, as Chairman. Keith W. MORRIS, has been re-elected as Deputy Chairman.
Lloyd's Europe leadership bolstered with new Board appointments confirmed
Lloyd's Insurance Company has confirmed its new Board appointees with Bruno van Lierde, Nicole Verheyen and Amelie Breitburd. Angela Crawford-Ingle will also join the LIC Board of Directors, effective immediately.
Swiss financial markets authority names Zurich's Group CIO as new CEO
FINMA - the Swiss Financial Market Supervisory - announced its Board of Directors appointed Urban Angehrn (currently Group Chief Investment Officer of Zurich Insurance Group) as the authority's new CEO.
Eleanor Bucks appointed Lloyd's Chief Investment Officer
Lloyd's announced that Eleanor Bucks will be joining the Corporation in the newly created role of Chief Investment Officer, which will build and lead Lloyd's new investment platform for the market.
Allianz completes transaction to purchase Westpac's general insurance business
Allianz Australia announced the completion of the transaction to acquire Westpac's general insurance business and commenced a 20-year exclusive agreement to distribute general insurance products to Westpac customers.
29 July 2021