News - Insurance

Talanx completes acquisition of Liberty Seguros in Brazil

The Retail International division of the Talanx Group successfully closed its acquisition of the Liberty Seguros business with retail customers and small to mid-sized enterprises in Brazil on 22 November 2023, as the German insurer informed in a statement.

UNIQA posted 3Q2023 rise in premiums and profits

Austrian insurance group UNIQA reported January-September 2023 premium growth of 9.4% to EUR 5.5 billion and a significant increase in earnings before taxes to EUR 305 million. “Above all, property and casualty insurance and health insurance contributed to this very satisfactory growth”, as the Austrian insurer pointed out in a statement.

Petra HIELKEMA, EIOPA: A more integrated supervision and closing the protection gaps are the main priorities of the European insurance landscape

“We are not in tranquil times. We are confronted almost daily with a new crisis. So much so that we could almost say that we are living in a state of permacrisis. But despite this, we – supervisors and also industry – are riding out the storm. Our sectors are resilient, sustainable and competitive,” said EIOPA’s Chairperson Petra HIELKEMA, in her keynote speech opening the EIOPA Conference on 21 November 2023.

VIG increases its share of Hungarian business from 55% to 90%

On November 21, 2023, Vienna Insurance Group (VIG) signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which are currently held by the Hungarian state holding company Corvinus. After completion of the transaction, VIG's share in the holding company will increase from 55 to 90%.

Marsh McLennan cooperates with the Ukrainian government and financial entities to enable critical food supplies exports from Ukraine’s Black Sea ports

Marsh McLennan, in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, announced the launch of a new facility – Unity – to provide affordable insurance supporting the export of grain and other critical food supplies globally from Ukraine’s Black Sea ports.

STATISTICS: BiH insurers’ 3Q2023 GWP exceeded EUR 380 million

The insurance market of Bosnia and Herzegovina Q3 2023 with aggregate GWP worth BAM 744.2 million (~EUR 380.5 million) vs. BAM 668.6 million (~EUR 341.8 million) a year before, according to the January-September 2023 market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.

AIG appoints Roshan Navagamuwa as EVP and CIO

AIG - American International Group announced that Roshan Navagamuwa will be joining AIG in December and has been named Executive Vice President and Chief Information Officer, effective January 1, 2024. He will report to Peter Zaffino, AIG Chairman & Chief Executive Officer, and serve on AIG’s Executive Leadership Team.

Eduardo Davila named senior advisor to Aon CEO Greg Case

Global broker Aon informed that it has appointed Eduardo Davila as senior advisor to Aon CEO Greg Case. Davila recently transitioned out of his role as CEO of EMEA to take this senior advisor position, having previously served as CEO of Iberia and the Middle East.

S&P confirms UNIQA rating and expects further growth

Austrian insurance group UNIQA informed that the international rating agency Standard & Poor's (S&P) confirms UNIQA’s rating in its current report: the "A" ratings for UNIQA Osterreich Versicherungen AG and UNIQA Re AG and the "A-" rating for UNIQA Insurance Group AG, all with a stable outlook.

ARMENIA: by the end of 3Q2023, the net profit decreased by 9.4%

In the insurance market of Armenia, the growth of paid claims continues to accelerate and the GWP growth slows down, as a result market profits began to decline. At the end of 3Q2023, net profit decreased by 9.4% to AMD 3.2 billion (USD 8.2 million), according to the Financial Rating of Insurance Companies of Armenia, prepared by ArmInfo.

Sava reported 9 months growth in business volume and profits

Slovenian insurance group Sava reported 3Q2023 13.7% y-o-y increase in business volume to EUR 711.2 million, while the net profit increased slightly to EUR 36.5 million (3Q2022: EUR 35.0 million), “a similar level to that of the first nine months of last year, despite this year’s major claim events”.

IIFC Day 2: Lessons learned from the Kahramanmarash earthquale may shape the future of Nat Cat insurance in Türkiye

The second day of the International Insurance Fair and Congress in Antalya hosted several panels of discussions. Panelists discussed the role of insurance intermediaries and technology in the overall development of the market. Disaster insurance and the role of urbanization in facing the impact of climate change made another line of debates. The second day also hosted a panel dedicated to insurance markets in the Eurasian region.