News - Re/Insurance groups
Fewer than one third of insurers report success in process of digital transformation
The insurance industry is known for having traditional structures with many legacy systems in place. As technology develops and globalization charges on, digital solutions become more important but fewer than one third of insurers report success in transforming business practices.
1 November 2018Swiss Re reports USD 1.1 billion net income for 3Q2018, after absorbing USD 1.6 billion of large claims
Swiss Re reported a Group net income of USD 1.1 billion for 3Q2018 compared to a loss of USD 468 million for the same period a year ago, despite an estimated claims burden of USD 1.6 billion from natural catastrophes and large man-made events in the reporting period.
1 November 2018Allianz acquires first subsidy free solar project in Iberia
31 October 2018De Persgroep acquires Independer
31 October 2018Global Care on Demand: a virtual doctor for globally mobile citizens
As of November 1, 2018, AXA - Global Healthcare customers will have access to the "Global Care on Demand" service, a virtual doctor developed by Advance Medical, offering simple and flexible health services for globally mobile individual and SME customers.
31 October 2018MOODY's affirms GENERALI's rating at Baa1 with stable outlook
Rating firm MOODY's affirmed the Baa1 IFS rating of Assicurazioni GENERALI SpA. Concurrently it has affirmed the ratings of debt instruments issued or guaranteed by GENERALI (Baa2 senior debt; Baa3 senior subordinated debt; Ba1(hyb) junior subordinated debt). The outlook remains stable.
25 October 2018Fairfax not planning to merge Colonnade Ukraine and the newly aquired AXA Insurance units
Canadian group Fairfax Financial Holdings Limited (Fairfax), does not plan to merge the recently acquired Ukrainian AXA units with its insurance company Colonnade Ukraine, First Vice President of AXA Insurance Andriy Peretiazhko said at a press conference on Tuesday, Interfax reports.
25 October 2018Swiss Re elected to EU Expert Group for Sustainable Finance
The European Commission has announced that Swiss Re will be part of the Technical Expert Group for Sustainable Finance. Claudia BOLLI, Swiss Re's Head of Responsible Investing, will assist the European Commission specifically on the development of low carbon benchmarks.
24 October 2018GENERALI to acquire Union Investment TFI in Poland
The Italian Group, GENERALI, has entered into an agreement with the German Group Union Asset Management Holding AG to acquire a 100% stake in the Polish asset management company Union Investment TFI S.A., a move that will significantly strengthen GENERALI's presence in Poland.
24 October 2018TALANX announced ambitious targets for the upcoming years
TALANX, the Germany's third-largest insurer, announced it planned ambitious targets for 2019 and beyond, targeting a combined positive effect on annual profit of around EUR 50 million.
24 October 2018AON establishes New Ventures Group and appoints Chief Innovation Officer
AON has announced that it is taking another significant step to realize the full potential of its AON United growth strategy by establishing a New Ventures Group and assigning a team of proven senior leaders to further accelerate the creation of new value sources for its clients.
24 October 2018CHUBB appoints new Division President in Bermuda
CHUBB has appointed Judy GONSALVES as Vice President of CHUBB Group and Division President of Bermuda.
24 October 2018SCOR, 3Q2018: solid performance with results exceeding targets set in the Group's development plan
SCOR Group's net income reached EUR 342 million for 3Q2018, resulting in a return on equity (ROE) of 7.6%. GWP totaled EUR 11,336 million, up 7.4% y-o-y at constant FX, the Group announced in a press release.
24 October 2018AXA leaves the Ukrainian insurance market
AXA announced on 23 October it had entered into an agreement with Fairfax Financial Holdings Limited, through its subsidiary FFHL Group Ltd., ("Fairfax") to sell all its insurance operations in Ukraine and exit the Ukrainian market.
23 October 2018TRUST Re, 1H2018: 13% y-o-y growth in premiums and claims settled, exceeding USD 300 million
TRUST Re has announced a 13% y-o-y growth in premiums for 1H2018 and a combined ratio of 96.5%, down from 98.9% a year ago, reaffirming its sound and steady reputation among the company's long list of loyal customers.
21 October 2018Russia: ERGO to sell its life unit to ROSGOSSTRAKH
ROSGOSSTRAKH, one of the largest Russian non-life insurers is set to buy the local life insurance unit of German reinsurer MUNICH Re - ERGO Life, in a move to re-enter the life insurance segment.
18 October 2018Facing Brexit, AXA XL receives approval for European headquarters in Dublin
In anticipation of the UK's exit from the EU in March 2019, the French AXA Group has received authorization from the Central Bank of Ireland to move the operations of its European subsidiary XL Insurance Company SE (XLICSE) to Dublin.
18 October 2018US antitrust approval granted for MMC's acquisition of JLT Group
Marsh & McLennan Companies (MMC) and Jardine Lloyd Thompson Group (JLT) have confirmed that October 10 the Federal Trade Commission (FTC) granted early termination for the waiting period under the Hart-Scott-Rodino Act, with respect to MMC's previously announced acquisition of JLT.
18 October 2018Matt RIDER appointed as Chair of the European Insurance CFO Forum
Matt RIDER, Group Chief Financial Officer at AEGON, has been appointed Chair of the European Insurance CFO Forum. He succeeds Luigi LUBELLI of Generali.
18 October 2018TALANX decreases its anticipated FY2018 Group net income to EUR 700 million
The German TALANX Group announced it is assuming a large-loss burden for Industrial Lines after more than EUR 260 million in nine months. This is likely to have already exceeded the large loss budget for the entire year in Industrial Lines on September 30, 2018.
18 October 2018
