News - Re/Insurance groups

GBP 2.5 billion for UK insurance claims after COVID-19 in 2020

The UK insurance market has to pay up to GBP 2.5 billion for COVID-19 insurance claims incurred in 2020, as the Association of British Insurers has announced in a press release. ABI members consider that GBP 2 billion are due to COVID-19 business interruption claims.

A five-year EUR 3.5 billion plan for Fenice 190 launched by Generali

At its 190 th anniversary, Generali launches Fenice 190, a five-year EUR 3.5 billion plan in order to support the sustainable recovery in Europe and the real economy. Over EUR 1 billion has already been allocated through 10 investment funds focused on infrastructure, innovation and digitalization, SMEs, etc.

AEGON nominates CFO Matt RIDER for reappointment

AEGON's Supervisory Board will propose to the Annual General Meeting of Shareholders in June 2021 to reappoint Matt RIDER as Chief Financial Officer for a four-year term. Matt RIDER was first appointed as AEGON's CFO in 2017.

AON: Insurance rates will continue to increase in 2021

According to the Q4 2020 Global Market Insights Report released by global re/insurance broker AON, insurance pricing is up across most lines and classes globally, as COVID-19 impacts, including the economic downturn, have resulted in heightened underwriting scrutiny and risk aversion from insurers.

NN Group reports FY 2020 operating result of EUR 1.9 billion

Dutch NN Group announced its operating result increased to EUR 963 million in H2 2020 from EUR 881 million the previous year, mainly driven by "a higher investment margin and lower administrative expenses at Netherlands Life".

ALLIANZ, FY2020: EUR 1.3 billion impact of Covid-19 on operating profit

German insurer ALLIANZ posted FY2020 total revenues of EUR 140.5 billion,down by 1.3% y-o-y (EUR 142.4 billion in 2019) while its operating profit decreased by 9.3% to EUR 10.8 billion (vs. EUR 11.9 billion), mostly due to the adverse impacts from COVID-19 amounting to approximately EUR 1.3 billion.

Polish Asseco CE is expanding on the international digital insurance market

After the successful partnership in Slovakia and Czechia focusing on provision of IT solutions on the Platform as a Service (PaaS), Asseco Central Europe and Youplus Insurance International AG have agreed on another cooperation, aiming to gradually expand in German speaking countries.