News - Re/Insurance groups
AXA is in talks to sell its Greek operations to GENERALI, market rumors say
French insurer AXA is in talks to sell its Greek operations to Italian group Assicurazioni GENERALI, Blomberg reports citing sources, "as part of its plans to ditch business lines deemed surplus to requirements".
IGI, 2Q2020: Net profit after tax increased to USD 12 million
International General Insurance (IGI) ended the second quarter of 2020 with a net profit (after tax) of USD 12 million, 43% higher year-on-year.
Talanx Group, 1H2020: Net income fell to EUR 325 million, negatively affected by coronavirus
For the first six months of 2020, Talanx Group generated a net income of EUR 325 million, 31.8% lower year-on-year, negatively affected by the impact of coronavirus on the economy, just like the majority of European insurance groups.
Brian James appointed as IGI's Class Underwriter for Cargo
International General Insurance Holdings announced the appointment of Brian James as Class Underwriter for Cargo.
COVID-19: British employees feel positive about returning to work - but businesses have work to do to make workplaces safe
Half (49%) of employed British adults feel positive about the prospect of returning to their place of work after lockdown, with less than one in five (18%) feeling negative, an AVIVA study shows.
WTW appoints Fiona SHAW to head Data & Analytics for global fac. team
WILLIS TOWERS WATSON (WTW) announced the appointment of Fiona SHAW as head of Data, Analytics and Innovation for its global Facultative business.
AIG Appoints David McElroy CEO, General Insurance, and Executive VP
American International Group announced that David McElroy, currently President and Chief Executive Officer of the North American operations of General Insurance, has been promoted to Chief Executive Officer, General Insurance, and Executive Vice President, AIG, effective immediately.
Global Commercial insurance pricing up 19% in Q2
Global insurance broker MARSH released last week the Global Insurance Market Index for the second quarter of 2020. The increase, the largest since the index was launched in 2012, follows y-o-y average increases of 14% in the first quarter and 11% in the fourth quarter of 2019.
VIG adjusts goodwill for Bulgaria, Croatia and Georgia by a total of EUR 120 million
Based on the ESMA recommendation of May 2020 and the macroeconomic developments influenced by COVID-19, VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe executed an event-related impairment test at Group level.
CHUBB appoints Paul KRUMP Vice Chairman, Global Underwriting and Claims
CHUBB Limited announced the appointment of Paul KRUMP, currently Executive Vice President, CHUBB Group and President, North America Commercial and Personal Insurance, to Vice Chairman, Global Underwriting and Claims.
LLOYD's Lab selects ten new InsurTechs for fifth cohort focused on COVID-19 risks
LLOYD's announced its new cohort of InsurTech disruptors that will join the LLOYD's Lab innovation accelerator programme, and includes start-ups who are focused on providing solutions to support the Market to respond to the COVID-19 pandemic.
Zurich Insurance Group, 1H2020: Net income stood at USD 1.2 billion
For the first six months of 2020, Zurich Insurance Group (Zurich) reported a net income of USD 1,181 million, 42% lower year-on-year.
Aegon, 1H2020: Underlying earnings before tax, sustained by UK, International and Asset Management segments
Aegon Group ended the first half of 2020 with a net income of EUR 202 million, 67% smaller when compared to the same period of 2019.
Sampo, 1H2020: Profit before tax stood at EUR 569 million, impacted by COVID-19 effects on financial markets
For the first six months of 2020, Sampo Group recorded a profit before taxes of EUR 569 million, 42% lower than the same period of 2019. For the second quarter alone, Sampo Group's profit before taxes was EUR 407 million (-20%).
MetLife, 2Q2020: Consolidated revenues decreased 13% to USD 10.4 billion
For the second quarter of 2020, from April to June, MetLife announced a net income of USD 68 million, down 96% year-on-year (2Q2019: USD 1.7 billion). On a per share basis, net income was USD 0.07, compared to net income of USD 1.77 in the prior-year period.
Everest Re, 2Q2020: Total premiums earned rose 12.4%
For the second quarter of 2020, for three months ended June 30, Everest Re Group ("Everest") reported a net income of USD 190.9 million, 42.7% lower when compared to the same period of prior year. For six months ended, from January to June 2020, the group's net income was USD 207.5 million (-69.8%).
CHUBB names Gina REBOLLAR Deputy General Counsel for Global Corporate Affairs
CHUBB announced that Gina REBOLLAR has been named Deputy General Counsel, Global Corporate Affairs, with immediate effect. She succeeds Chris KEARNS, who is relocating to the West Coast to pursue other interests. Chris KEARNS will serve as a consultant to CHUBB through the end of 2020.
HANNOVER Re CFO VOGEL to retire. HDI's JUNGSTHOFEL appointed new CFO
Roland VOGEL, the CFO of German reinsurer Hannover Re, is retiring from the company on September 30th, 2020 after more than 30 years at the company. He will be succeeded by Clemens JUNGSTHOFEL, the current CFO of HDI Global SE.
LLOYD's: COVID-19 brings intangible assets into full focus
Intangible assets are an increasing proportion of companies' balance sheets, already accounting for as much as 85% of the total business value across industries according to estimates, show a report published by LLOYD's in collaboration with KPMG, urging businesses to pay attention to the new risk landscape that has evolved under COVID-19.
Natural events, exchange rate differences and moral damages affected the H1 2020 CO Group profit by more than EUR 13 million
For the first six months of 2020, CROATIA osiguranje Group reported GWP of HRK 1,867 million (~EUR 247 million), about 6% lower than last year. The combined ratio from the Group's regular operations is 91.8% and is almost one percentage point better than last year.
19 August 2020