News - Re/Insurance groups
Lloyd's appoints new rating agency and receives AA- financial strength rating
Lloyd's announced that it has appointed Kroll Bond Rating Agency (KBRA) to provide an additional independent opinion of Lloyd's financial strength "and further demonstrate the market's exceptionally strong financial position to investors and customers".
CIG Pannonia is the potential buyer of Hungarian Aegon unit
Partnership between Eurohold and J.P. Morgan AG for taking over the assets of the CEZ group in Bulgaria
Eurohold, the Bulgarian public holding and an independent financial and insurance group operating in the CEE/SEE/CIS region, has mandated J.P. Morgan AG to act as its lead and exclusive arranger for structuring the debt financing related to the deal with CEZ Group.
AON: ARA's 2020 GWP increased by 6% y-o-y to USD 294 billion
Despite the combined effects of around USD 25 billion of pandemic and natural catastrophe related losses and a compromised investment return, Aon's Reinsurance Aggregate (ARA) of reinsurers was able to report positive earnings for the year and an increased capital base, aided by demonstrated access to new funding.
Christophe GAUDRON and Michel DEN BOER are named at Guy Carpenter on European Area
Guy Carpenter & Company announced the appointments of Christophe GAUDRON as CEO, Guy Carpenter France, effective January 01, 2022, and Michel DEN BOER as Managing Director, Treaty Broking, Guy Carpenter Benelux, with immediate effect.
Swiss Re: Financial Condition Report issued for legal entities domiciled in Switzerland
Swiss Re has published the 2020 Financial Condition Report for the Swiss Re Group and regulated re/insurance legal entities domiciled in Switzerland for the reporting period ended 31 December 2020.
Major economies could lose roughly 10% of GDP in 30 years reveals Swiss Re Institute's stress-test analysis
Swiss Re Institute has issued the Climate Economics Index a stress-tests analysis on how climate risks will impact 48 countries representing 90% of the world economy and ranks their overall climate resilience. It shows all countries will be affected, but some are more vulnerable than others.
Adris grupa's 2020 revenues hit by the pandemic, economic crisis and the two devastating EQ
The Supervisory Board of Adris grupa - the CROATIA's osiguranje owner - approved the Group's audited non-consolidated and consolidated annual financial report for 2020 and the proposal for a decision on the allocation of profits from 2020.
Anthony CORDONNIER and Erica DAVIS appointed as Global Co-Heads of Cyber at Guy Carpenter
Guy Carpenter continues to investment in its cyber platform and has made new appointments within the Cyber team. They named Anthony CORDONNIER as Managing Director and Global Co-Head of Cyber, and promoted Erica DAVIS to Global Co-Head of Cyber. Other appointments were also made.
Achmea's AGM adopts financial statements, approves dividend and announces the new BoD
Dutch insurer Achmea informed its Annual General Meeting (AGM) adopted the 2020 financial statements and also approved a proposal to distribute a dividend of EUR 19.6 million on the preference shares and EUR 149.7 million on the ordinary shares. In addition, the AGM addressed the previously announced appointments of Bianca Tetteroo and Jan van den Berg.
Aegon's Global CTO to steps down
Aegon announced that Global Chief Technology Officer Mark Bloom is stepping down, effective June 1, 2021: "Having led Aegon's technology and innovation activities for more than five years, he has decided to leave the company to pursue other opportunities".
Munich Re reported Q1 result of around EUR 600 million
German reinsurer Munich Re announced preliminary net profit of roughly EUR 600 million for the Q1 2021, which is up on the consensus of EUR 466 million and also the EUR 221 million reported in the same period in 2020.
A quarter of Czechs keep savings in a current account or in cash
A quarter of Czechs still lose part of their savings to inflation. They consider cash or a current account to be the most suitable way to save money, according to a survey by Generali Investments CEE related to the Lion`s Share project.
SCOR reported 4.3% overall increase in pricing at April 1 reinsurance renewals
On the 1st of April 2021, French reinsurer SCOR informed that it grew its gross premiums up for renewal by 14.3% to EUR 600 million, with a 4.3% overall increase in pricing.
Swiss Re shareholders elected Ermotti as Chairman of the BoD and awarded Kielholz with the title of Honorary Chairman
Swiss Re's shareholders approved all proposals put forward by the Board of Directors at the Annual General Meeting (AGM) in Zurich. This included the distribution of an ordinary dividend of CHF 5.90 per share as well as the election of Sergio Ermotti as new Chairman of the Board of Directors.
AGCS announced leadership appointment
Allianz Global Corporate & Specialty (AGCS) announced that David Brown, currently its Head of Insurance Linked Markets will take over as head of its Capital Solutions unit from July 1, 2021, subject to local regulatory approval.
VIG demonstrated strong capitalization with a solvency ratio of 238% and an increased premium volume of EUR 10.4 billion
With an increased premium volume of EUR 10.43 billion, profit before taxes of EUR 346 million and a further improved combined ratio of 95%, VIG Group has achieved solid results for 2020. The preliminary figures for the 2020 financial year and the outlook for 2021 are confirmed by the VIG reports.
Aon will provide cargo insurance coverage for COVID-19 vaccines
Aon launches innovative industry collaboration to protect global Covid-19 vaccine shipments and will donate all 2021 revenues from new solution to a charity dedicated to eradicating the global human and economic toll of the pandemic.
PZU uses Murex tech to build a sustainable investment process for a new asset management system
Murex, the global leader in integrated investment management and processing solutions for capital markets, served as a critical technology partner for PZU Group as it implemented a sophisticated platform solution to manage its own investments and assets, as well as those of its customers.
Wills Re: 7% increase and total capital of USD 658 billion for the global reinsurance market in 2020
According to the latest Reinsurance Market Report from Willis Re, the total capital dedicated to the global reinsurance industry measured USD 658 billion at year-end 2020 reflecting 7% year-on-year growth. The rise was driven primarily by strong investment market appreciation.
26 April 2021