News - Re/Insurance groups
VIG aims to use strong capitalisation as basis for growth
With the publication of 2018 Group Annual Report, Vienna Insurance Group (VIG) has confirmed the preliminary results, announced on 21 March 2019. The Group intends to use its strong capitalisation (solvency ratio of 239%) to achieve further growth.
17 April 2019POLAND: PZU Group successfully completed a pilot project of using A.I. in handling motor damage
Poland-based PZU Group announced that progress was realized on their PZU GO service, an innovative technology, which will support the insurer's employees and experts in motor claim handling. The time necessary for claim handling will be significantly shorten through the software.
11 April 2019GENERALI Group announces its first boutique in Italy with a new partnership to launch innovative multi-asset strategies
GENERALI Group announced its first Italian boutique with a strategic partnership, aimed at launching a new asset management company. The new venture will develop multi-asset strategies, serving the needs of clients around the world, both private and institutional.
11 April 2019VIG Re has new Chief Underwriting Officer and head of CEE market
After opening new branch offices in Frankfurt and Paris, VIG Re announced organizational changes. Olaf DIETRICH will be the new Chief Underwriting Officer, leading the newly formed Corporate Underwriting Department, while Petr STEPAN will head the new CEE market department.
10 April 2019Willis Towers Watson acquires TRANZACT
Willis Towers Watson is acquiring TRANZACT for USD 1.2 billion in closing consideration, with potential earn-out of up to USD 200 million, payable in either cash or stock by 2021, if certain financial targets are achieved.
10 April 2019SCOR completes the merger of its three SE legal entities
SCOR Global Life SE and SCOR Global P&C SE merged into SCOR SE on March 31, 2019, as the Paris-based reinsurer announced in a statement.
4 April 2019TRIGLAV allocates 70.3% of 2018 net profit to dividend payments
At the the General Meeting of Shareholders, the Supervisory Board and the Management Board of Zavarovalnica Triglav will propose the allocation of EUR 56.8 million to dividend payments, or EUR 2.50 gross per share for 2018.
4 April 2019MMC completes acquisition of JLT
Marsh & McLennan Companies (MMC) announced the completed the acquisition of Jardine Lloyd Thompson Group plc (JLT) for USD 5.6 billion in fully diluted equity value. A week ago, the European Commission gave the green light for the transaction.
4 April 2019GENERALI to take over ERGO units in Hungary and Slovakia
Italian insurer GENERALI announced signing an agreement to take over the entire life, non-life and composite insurance portfolios of three entities of ERGO International AG in Hungary and Slovakia. The sale is subject to certain regulatory and anti-trust approvals, as is customary for transactions of this kind. The parties have agreed not to provide details of the purchase price and other terms.
4 April 2019Croatian VIG Group company receives social award and EUR 50,000 prize money for enhancing child security online
1 April 2019The ERGO Group is consolidating its business fields and sales channels under a strong brand
1 April 2019European Commission approves acquisition of JLT by MMC
TheEuropean Commission announced it approved the acquisition of Jardine Lloyd Thompson Group plc by Marsh & McLennan Companies. "The approval is conditional on the divestment of JLT's global Aerospace practice", as the European Regulator stated.
28 March 2019IGI, 2018 results: strong recovery after 2017 catastrophe losses
Dubai-based International General Insurance Holdings Limited (IGI) recorded USD 301.6 million in GWP, an increase of USD 26.3 million (+9.5%), at the end of 2018. Improvements were in the net result, as well as the combined operating ratio.
28 March 2019COFACE to expand its expertise on the Greek credit insurance market
The global trade credit insurance COFACE announced the launch of its credit insurance offer in Greece, after being granted a license from the Greek regulatory authority to operate as credit insurer.
28 March 2019PZU starts using AI to handle motor insurance claims aiming for tenfold increase of process efficiency
PZU successfully completed a pilot project of using artificial intelligence (AI) in handling motor damage claims, the company announced in a press release. PZU is the first insurer in Poland to implement this unique technology on such a scale.
28 March 2019PZU's Management Board confirmed for a new term
The Supervisory Board of PZU SA appointed the Management Board of the company, including its president, Pawel SUROWKA, for a new term, which will last until December 31, 2022.
28 March 2019Achmea acquires part of the banking operations of a.s.r. bank
27 March 2019RenaissanceRe completes acquisition of Tokio Millennium Re
RenaissanceRe Holdings Ltd. announced on March 22 that it has concluded the acquisition of Tokio Millennium Re ("TMR"). The acquisition was initially announced 30 October 2018 and the completion follows the receipt of all necessary regulatory approvals.
27 March 2019A new life insurance company will launch in CZ & SK markets
Youplus, a new life insurance company, will launch in the Czech and Slovak insurance markets in May 2019. Youplus will begin operation in the Czech Republic the first half of 2019 and enter the Slovak market in the second half.
27 March 2019Lloyd's: GBP 1.0 billion aggregated market loss in 2018 caused by costly NatCat events
Following a volatile investment environment and another costly year from natural catastrophes in which the market paid GBP 19.7 billion in claims (gross of reinsurance), Lloyd's has today reported an aggregated market loss of GBP 1.0 billion for 2018 (2017: loss of GBP 2.0 billion).
27 March 2019
