News - Re/Insurance groups
WILLIS Re has improved its cyber risk portfolio modelling tool to include silent cyber
WILLIS Re, the reinsurance business of WILLIS Towers Watson, the global advisory, broking and solutions company, has announced it has upgraded its cyber risk portfolio modelling tool PRISM-ReTM to now include silent cyber.
11 January 2018ZURICH acquires BRIGHT BOX to strengthen capabilities in connected cars
ZURICH Insurance Group has acquired 100% of the shares of BRIGHT BOX HK Ltd to strengthen its expertise in connected cars, the Swiss insurer announcend in a statement.
11 January 2018ERGO sells three legal insurance subsidiaries to ALLIANZ
ERGO Group - part of German MUNICH Re, said it has sold its legal protection insurance subsidiary DAS Switzerland and the assets of DAS Luxembourg and Slovakia to ALLIANZ Group. The combined premium income from the three ERGO subsidiaries totaled EUR 38 million in 2016.
11 January 2018JLT Re: Soft market prevails at January 1st, but uncertainty over final impact of the record loss quarter remains
The market continues to be driven by the abundance of both traditional and alternative reinsurance capital rushing in to fill the massive Q3 insured losses, but uncertainty over the final impact of the record loss quarter remains, JLT Re's Global Head of Analytics, David FLANDRO said commenting on the January 1st renewals.
11 January 2018AON Baltic acquires one of the largest broking firm in the Baltic region
AON Baltic, a subsidiary of global risk and insurance brokerage company AON, has announced it has completed the acquisition of insurance broker BALTO LINK. Financial details of the transaction have not been disclosed.
11 January 2018VIG companies merged in the Baltic States: InterRisk merged with BTA Baltic
The Latvian supervisory authority approved the merger of the two VIG subsidiaries InterRisk Vienna Insurance Group AAS and BTA Baltic Insurance Company AAS shortly before the 2017 year end. Both companies operate in all three of the Baltic States.
11 January 2018A.M. Best affirms credit ratings of AXA Global Re
A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" of AXA Global Re (AGRe) (France). The outlook of these Credit Ratings (ratings) remains stable.
11 January 2018PZU raises its ROE target for 2020 to over 22% and bets on the use of AI to improve profitability and services
Raising its ROE to over 22%, increasing its market share in the home market to 38% in non-life and 11% in life insurance and reducing administrative expenses to 6.5% are some of the main targets of the PZU Group's Updated Strategy and Implementation Plan for 2017-2020.
11 January 2018Zurich to underwrite easyJet insurance
Swiss insurer Zurich Insurance has entered into a new agreement with UK airline easyJet to exclusively underwrite the airline's travel insurance offerings. Zurich will provide product and pricing for the insurance available through easyJet.
8 January 2018PCS to launch Global Terror loss aggregation & index in Q1 2018
Property Claim Services (PCS), a Verisk Analytics business, has announced plans to launch a new loss aggregation solution for terrorism risks in the opening months of 2018, its latest industry loss data solution for global specialty insurance and reinsurance lines.
8 January 2018GENERALI to sell Ireland-based GENERALI PanEurope
GENERALI has entered into a share purchase agreement with Life Company Consolidation Group (LCCG) to sell its entire shareholding in GENERALI PanEurope.
20 December 2017Bulgarian insurer EUROINS doubled its capital to EUR 32.5 million and achieved 120% SCR ratio
EUROINS AD, part of EUROINS Insurance Group AD (EIG), announced it has raised its capital two times to EUR 32.5 million. As a result the value of the company's capital indicators "have surpassed by far the ones required by the Solvency II Directive".
20 December 2017VIG to hold about a quarter of the Baltic markets after the SEESAM acquisition
VIENNA Insurance Group (VIG) has agreed to fully acquire SEESAM Insurance AS (SEESAM). The agreement for the acquisition of SEESAM, part of the Finnish OP Finance Group, was signed on 18 December 2017.
20 December 2017Austria will join GENERALI's CEE Region
Italian insure GENERALI announced starting 1 January 2018, GENERALI Austria will join the Group's CEE structure becoming "a leading market of the Central and Eastern Europe Region".
20 December 2017MUNICH Re increases its shareholding in GLOBAL AEROSPACE
GLOBAL AEROSPACE, a leading provider of aerospace insurance, announced that MUNICH Re has agreed to purchase an additional 11% of the shares in GLOBAL AEROSPACE Underwriting Managers Limited (GLOBAL) - the company that manages the GLOBAL AEROSPACE POOL.
20 December 2017GENERALI agrees to sell non-life run-off portfolio of its UK branch
GENERALI has entered into an agreement to sell the Non-Life run-off portfolio of its UK branch, consisting of approx. EUR 300 million of liabilities, to COMPRE Group, a leading discontinued business specialists in the insurance industry.
20 December 2017SAVA Re at its 40th anniversary
Sava Re celebrates 40 years of operation. The company celebrated its 40th anniversary together with its employees and business partners on 21 November, with a focus on the future and the changes it brings.
20 December 2017PZU Group enters the Lloyd's market by becoming an Argenta shareholder
The PZU Group became a shareholder of Argenta Syndicate Management Limited, one of Lloyd's syndicates belonging to the Argenta Holdings plc., thus being granted the "Member of Lloyd's" certificate.
20 December 2017Preliminary sigma estimates for 2017: global insured losses of USD 136 billion are third highest on sigma records
Total economic losses from natural and man-made disasters in 2017 are estimated to be USD 306 billion, up from USD 188 billion in 2016 and well-above the annual average of the previous 10 years, a Swiss Re press release has announced today.
20 December 2017Paul Moody named as Marsh's CEO of UK specialities unit
Marsh & McLennan Companies' insurance brokerage arm, Marsh, has named Paul Moody as Chief Executive Officer (CEO) of its UK specialities unit, effective January 1st, 2018.
19 December 2017
