News - Re/Insurance groups
AXA-backed startup Fixter is expanding across the UK, to make motorists' life easier
Fixter, the AXA-backed, London startup founded in 2016 to enable the French-based insurer to better cover the British motor insurance market, has expanded in key regions across the country.
11 September 2018QBE, 1H2018: focus on redefining its international presence and maximizing ROE
QBE reported a statutory net profit after tax of USD 358 million, up 4% from USD 345 million in the first half of 2017 while cash profit after tax was also up 3% to USD 385 million from USD 372 million.
11 September 2018MUNICH Re acquires tech company relayr
Reinsurer Munich Re has announced that via its subsidiary Hartford Steam Boiler (HSB), it has acquired the software company relayr, of which it will hold 100% of the shares upon completion.
10 September 2018Vijay MAVANI to join JLT Re in 2019 as Partner, Capital Solutions
JLT Re said that Vijay MAVANI will join JLT Re as a Partner, Capital Solutions after he will complete his contractual obligations with his current employer. He is expected to start at JLT Re early in 2019.
10 September 2018Michel FONTAINE joins JLT Re's Paris office as Partner
JLT Re announced that Michel FONTAINE has been appointed as a Partner in the Paris office.
10 September 2018PIMCO hires John STUDZINSKI as Managing Director and Vice Chairman in its Executive Office
ALLIANZ announced that its premier fixed income investment managers - PIMCO, has hired John STUDZINSKI as Managing Director and Vice Chairman of PIMCO in its Executive Office. He will be based in PIMCO's New York office and will report to Emmanuel ROMAN, PIMCO's Chief Executive Officer.
10 September 2018S&P affirmed SCOR's rating at "AA-" with a "stable outlook"
SCOR announced that Standard & Poor's (S&P) affirmed the financial strength rating for the Group and its main subsidiaries at "AA-", with a "stable outlook", and maintained the counterparty credit ratings at "AA-/A-1+".
10 September 2018CCR, 1H2018: cost of natural disasters impacting French territories amounted to EUR 262* million
CCR (Caisse Centrale de Reassurance), the public-sector reinsurer that provides cedant insurers operating in France with coverage against natural catastrophes and uninsurable risks, has ended 1H2018 with premiums worth EUR 898 million, fueled chiefly by its Natural Disaster activity (92%).
6 September 2018ALLIANZ names ex Russia's Sberbank CTO as CEO of its European direct business
ALLIANZ announced that it has named Bart SCHLATMANN as CEO of its European direct business. He will assume his new responsibilities starting September 1, 2018.
5 September 2018GROUPAMA's H1 net profit decreased by EUR 80 million to EUR 206 million
French insurer GROUPAMA posted an H1 Group premium income of EUR 9.5 billion, 3.6% more y-o-y, while net profit decreased to EUR 206 million, as compared with EUR 286 million at the end of June 2017.
5 September 2018SAVA Re Group: Premiums up 3.7% and net profit of EUR 14.2 million
In 1H 2018, the SAVA Re Group generated high premium growth both in Slovenia and in its international markets. GWP increased by 3.7% y-o-y to EUR 308.6 million. Premium growth was driven by non-life insurance in Slovenia (7.3% growth), non-life insurance abroad (16.0% growth) and life insurance abroad (11.7% growth).
5 September 2018A.M.Best affirmed ALLIANZ SE's and most of its subsidiaries ratings
A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "aa" of Allianz SE (Allianz) (Germany) and most of its rated subsidiaries (the list of the companies is available below).
5 September 2018Vienna Insurance Group's rating of A+ with a stable outlook confirmed
The international rating agency Standard & Poor's (S&P) reconfirmed the A+ rating with a stable outlook for Vienna Insurance Group (VIG) on 30 August 2018. VIG continues to be the best-rated company among the 20 companies considered by the ATX index.
4 September 2018VIG closes the acquisition of Baltic insurer SEESAM
Austrian insurer VIG said the acquisition of Baltic insurer SEESAM was successfully completed. The agreement on the full acquisition of non-life insurer SEESAM Insurance AS - part of the Finnish OP Finance Group - was signed on 18 December 2017 (Click here to read more).
4 September 2018SCOR rejects Covea's proposition to acquire a majority stake in the reinsurer's share capital and voting rights
The French reinsurer SCOR has rejected Covea's acquisition proposal, as not compatible with its strategy of independence and refused to initiate discussions with the bidder.
4 September 2018PZU Group, 1H2018: consolidated net profit up 38.3% y-o-y
The Polish PZU Group ended 1H 2018 with GWP increasing by 2.4%, to PLN 11.8 billion (EUR 2.7 billion), while paid claims went up by 1.8%, to PLN 7.34 billion. The Group's consolidated net profit reached PLN 2,358 million, 38.3% up y-o-y.
30 August 2018AIG appoints John REPKO as Chief Information Officer
AIG has appointed John REPKO as its new Executive Vice President, Chief Information Officer, effective September 4, 2018. He succeeds Martha GALLO, who is leaving AIG to pursue other interests.
23 August 2018XL Catlin appoints AIG's Chris KOPSER to lead Global Risk Management for North America
XL Catlin has appointed Chris KOPSER to lead its Global Risk Management Insurance North America Division.
23 August 2018SOVAK Rep.: Slavka MIKLOSOVA is the new General Manager of KOMUNALNA VIG
Austrian insurer VIG announced that the Supervisory Board of its Slovakian subsidiary KOMUNALNA appointed Slavka MIKLOSOVA as General Manager.
23 August 2018UNIQA Group, 1H2018: GWP growth above expectations, driven by both Austrian and the CEE markets
In 1H 2018, UNIQA Insurance Group recorded earnings before taxes up 47.5% y-o-y, to EUR 140.8 million. This includes one-time gains on disposal of EUR 47.4 million in 1Q 2018 from the sale of the indirect interest in Casinos Austria Aktiengesellschaft.
22 August 2018
