After the announcement of approving the sale of its French business, Aviva plc ("Aviva") will sell its entire 40% shareholding in its joint venture in Turkey to Ageas Insurance International N.V. for an amount of GBP 122 million.
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.
According to a report issued by KPMG for the Association of British Insurers (ABI), the Post-Brexit reforms to financial regulations could boost the UK economy and support the fight against climate change if refinements are made to Solvency II following the UK's departure from the EU.
With an increase in gross written premiums to EUR 16,368 million in 2020, SCOR passes the real-life Covid-19 stress test demonstrating its resilience. The net income of EUR 234 million reflects the cost of Covid-19 and the annualized return on equity (ROE) stands at 3.8%.
"Today more than ever, in an unprecedented context, the Generali Group intends to build a shared and sustainable vision for the future of all stakeholders", declared the Chairman of Assicurazioni Generali, Gabriele Galateri di Genola.
Aviva has approved the sale of its French Business for EUR 3.2 billion in cash to Aema Groupe in order to follow its strategic transformation and focus on the strongest businesses in the UK, Ireland and Canada.
Through the exclusive partnership between Willis Towers Watson and Liberty Specialty Markets, the Reputational Crisis Insurance has been developed as a solution for organizations to transfer the financial risk associated with certain types of reputational crises.
Starting with February 2021, Paul Cazacu takes over the position of CEO - President of the UNIQA Insurance Directorate.
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.
Agra Asigurari aids the farmers with new benefits for agriculture in 2021. Drought Index and Agrar Basis become the same policy with additional advantages, such as providing soybean crops insurance and compensation for a lower precipitation deficit of 30%.
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.
French reinsurer SCOR annouced three organizational moves "designed to further strengthen the organisation and support future success".
The annual performance of the CCN group increased with 0.2%, showing a satisfactory progress for 2020, with a good underlying business activities and stable income. The digital transformation process was one of the factors helping the company face the COVID-19 challenges.
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.
Dutch insurance group AEGON reported a net loss of EUR 147 million in the second half of 2020, compared with a net profit of EUR 908 million in the second half of 2019.
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".
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.
Business closings, event cancellation and mortality were the main drivers of the COVID-19 USD 3.9 billion losses, mostly incurred in Q2 and Q4, that have significantly affected Swiss Re's financial result for 2020, pushing it in negative territory.
The election of the Board of Directors of Zurich Insurance Group (Zurich) will take place on April 7, 2021 during the Annual General Meeting which will take place without the physical attendance of shareholders. Sabine Keller-Busse was proposed for election to the Group's Board.
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.