News - Insurance

Bulgarian EUROHOLD maintains its revenues at a stable level in Q3 2020

Bulgarian financial holding UROHOLD Bulgaria, - the shareholder of EUROINS Insurance Group - one of the main players in CEE/SEE/CIS region, increased its revenues and maintained its operating profit in a challenging period in the context of the COVID-19 pandemic, according to the holding's consolidated financial statement for the first nine months of 2020.

MUNICH Re announces profit target of EUR 2.8 billion for 2021

Global reinsurer MUNICH Re is aiming for a profit of EUR 2.8 billion in 2021. MUNCH Re representatives announced the Group expects financial consequences from COVID-19 next year as well, but on a considerably smaller scale than in 2020.

LLOYD's Brexit business transfer received final High Court approval

LLOYD's confirmed it has received final approval from the High Court of England and Wales to transfer EEA policies to LLOYD's Insurance Company SA (LLOYD's Europe), with its registered office in Brussels, Belgium. The transfer will take effect from 00:01 on 30 December 2020.

VIG to acquire AEGON business in CEE

Wiener Versicherung Gruppe (VIG) agreed with Aegon N.V. on 29 November 2020 to acquire Aegon's insurance business in Hungary, Poland, Romania and Turkey. VIG will take over Aegon's non-life and life insurance companies as well as pension funds, asset management and service companies in these countries, which ideally complement VIG's existing portfolio. The purchase price amounts to EUR 830 million. The transaction is subject to the necessary regulatory and competition approvals. Closing of the transaction is expected to take place in the second half of 2021.

SCOR ILS Atropos fund exceed the USD 1 billion mark of assets under management

The assets under management for SCOR ILS Fund Atropos ("Atropos") recently exceeded the USD 1 billion mark. As of October 31, 2020, the total outstanding Insurance Linked Securities ("ILS") managed by SCOR Investment Partners and its London subsidiary Coriolis Capital Limited have reached USD 2.4 billion.