News - Insurance

Eurohold Bulgaria intend to launch international arbitration proceedings against Romania seeking at least EUR 500 million

Following the decision of Romanian ASF from 17 March to withdraw the license of Euroins Romania, the Bulgarian energy-financial holding Eurohold – the owner of Euroins Insurance Group mentioned in a statement that it officially informed the Government of Romania of their intention to initiate an international arbitration to “protect the group’s investment in Romania, unless the current dispute over Euroins Romania’s case is remedied quickly, and the damages caused to the group are duly compensated”.

MMC Q3 operating income increased to almost USD 1 billion

MARSH McLENNAN (MMC) reported Q3 2023 revenue of USD 5.4 billion, an increase of 13% compared with the third quarter of 2022. Operating income was USD 996 million, an increase of 26% from a year ago. Net income attributable to the Company was USD 730 million, or USD 1.47 per diluted share, compared with USD 1.08 in Q3 2022.

Croatian Adris grupa invested in renewable energy for self-consumption

Croatian conglomerate ADRIS grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region) informed that it signed a joint investment agreement for renewable energy sources with and ENCRO Group.

Tom Reagan named Global Specialty Head of Cyber, Marsh

Global insurance broker Marsh part of Marsh McLennan, announced the launch of a new Marsh Specialty global cyber practice that integrates all of Marsh’s cyber capabilities across insurance, risk intelligence, incident management, and cybersecurity around the world.

Claudia Valencia joins Allianz Commercial to lead Portfolio Solutions

Allianz Commercial has appointed Claudia Valencia as Global Head of Portfolio Solutions, joining on January 8, 2024. She will be based in London, and report jointly to Chief Underwriting Officer Shanil Williams and Global Head of Distribution Jeremy Sharpe.