The sale of the Moscow-based company Raiffeisen Life to the Russian insurance company Renaissance Life has been concluded. UNIQA owned 75% of Raiffeisen Life; the remaining 25% was held by Raiffeisenbank Russia, which belongs to Raiffeisen Bank International, the Group announced.

The credit rating agency AM Best confirmed the financial strength rating of "A" (excellent) and the issuer's long-term credit rating of "a" (excellent) on Zavarovalnica Triglav and Pozavarovalnica Triglav Re, the company said.

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Slovenian reinsurer Pozavarovalnica Sava (Sava Re), SeeNews reports. The outlook of the ratings is stable.

Generali has reached an agreement for the sale of its 99.99% stake in Generali Sigorta A.Ş. (Generali Sigorta Anonim Şirketi) to Kiler Holding A.Ş. (42% stake), Ekol Girişim Sermayesi Yatırım Ortaklığı A.Ş. (9% stake); Arex Yatırım Holding A.Ş. (48% stake) and Arex Sigorta A.Ş. (1% stake).

As of 16 September, Angeliki Mouratidou is the new General Manager of Euroins Greece. Athanasios Smyrnis and Vasil Dimitrov remain in the company as Deputy Managers to provide their valuable support.

The reinsurance market has achieved a sensible balance in an environment characterized by high demand, Munci Re representatives said at the “Rendez-Vous de Septembre” industry event in Monte Carlo.

Hannover Re anticipates prices and conditions to remain on a sustained stable level for the treaty renewals in property and casualty reinsurance as at 1 January 2025 and anticipates a balance of supply and demand in most markets.

"The key topics for the (reinsurance) industry remain largely unchanged from last year, but the challenges have intensified, leading to higher demand,” said Urs Baertschi, Swiss Re's Chief Executive Officer Property & Casualty Reinsurance in Monte Carlo. He named NatCat risks, economic uncertainty and geopolitical instability among the main reasons for which direct insurers seek reinsurance protection.

VIG Re announced that effective January 1, 2025, Tobias SONNDORFER will succeed Johannes Martin HARTMANN as Chief Executive Officer and Chairman of the Board of Directors in line with the established succession plan.

Under the auspices of the 30th edition of the Sarajevo Film Festival, UNIQA presented the UNIQA SEE FUTURE Foundation's support project for women filmmakers in the region of Southeast Europe.

Austrian Vienna Insurance Group reported GWP of EUR 7,886.8 million in 1H2024, 7.9% up y-o-y. Premiums increased in all segments and all lines of business, the Group said. The underwriting income increased to EUR 5.9 billion (+10.0%), while earnings before taxes grew to EUR 481.0 million (+3.9%).

The Triglav Group delivered a strong performance in 1H 2024, its total business volume reaching EUR 942.9 million, 2% down y-o-y. The Group recorded a gross profit of EUR 89.5 million, significantly higher y-o-y. Based on 1H results, Triglav expects year-end gross profit in the range of EUR 130 - 150 million.

UNIQA Group’s earnings before taxes increased y-o-y by almost 20% in1H2024, supported by the 4.5% y-o-y growth recorded in Austria, the 12.3% increase in the Eastern Europe business, a moderate claims burden and very good performance with its investments, while the gross combined ratio stood at 87.3%.

Anders Malmström will succeed John Dacey as Swiss Re Group’s CFO, starting 1 April 2025, as John Dacey will retire from his executive role on 31 March 2025. Dacey will continue to represent Swiss Re as a non-executive director on the boards of FWD and CPIC.

The international rating agency Standard & Poor's (S&P) has given the Vienna Insurance Group (VIG) an excellent rating of "A+" and a Stable Outlook. The "A+" rating with a stable outlook of the group's own reinsurance company VIG Re, based in Prague, was also confirmed.

Staying true to its “living better together” motto, Austrian UNIQA Group is taking a further step beyond the traditional insurance business by establishing a new subsidiary, UNIQA Sustainable Business Solutions, that will support corporate customers in risk issues, transformation and ESG topics.

Zavarovalnica Triglav issued a 20.5-year subordinated bond (Tier 2 under Solvency II), callable after 10.5 years as part of the Triglav Group's regular capital management activities.

Generali announced its support for the Insurance Development Forum’s Infrastructure Resilience Development Blueprint, an initiative aiming to mobilize and facilitate insurance sector investments in infrastructure that will enhance the resilience of vulnerable communities to risks from climate change and other natural disasters.

S&P Global Ratings affirmed the "A" financial strength and issuer credit ratings with a stable medium-term outlook of the Triglav Group and thereby of its parent company Zavarovalnica Triglav and the Group member Pozavarovalnica Triglav Re. All individual elements of this year's rating are at the same level as last year and the rating is based solely on an assessment of the Group's standalone credit profile.

As of July 1st, the merger of the Polish insurers belonging to the Vienna Insurance Group (VIG), Wiener and Compensa, became official. The newly created company operates under the Compensa brand and is ranking fourth among the VIG’s CEE subsidiaries.