News - Re/Insurance groups
CCN Group reported double digit revenue growth in 2021 and forecasts solid performance for 2022
After a very challenging 2020, extremely impacted by the COVID pandemics, in 2021 CCN Group returned on a growth path, as the company informed in a statement.
28 February 2022Highest claim paid by Euroins Romania in 2021 was of EUR 1.1 million; claims proccesing time went down in Q4 to about 7 days in average
Euroins Romania announced a significant reduction in the processing time for the claims following road accidents with only material damages to 7 days in Q4 2021, from the average of 38 days in Q2 2021. Consequently, the number of complaints also decreased substantially, to only 197 out of 14,000 claim files processed.
23 February 2022ABIR members contribute USD 8.5 bn to Bermuda economy over 10 years
Members of the Association of Bermuda Insurers and Reinsurers (ABIR) contributed USD 8.5 billion to the Bermudian economy over the decade ended 2020, according to a annual member survey results.
23 February 2022AGCS posted YE2021 operating profit of EUR 366 million
Allianz Global Corporate & Specialty (AGCS) - the global corporate insurance carrier part of Allianz Group, reported YE 2021 GWP of EUR 9.49 billion, up by EUR 174 million vs. 2020 (EUR 9.31 billion).
22 February 2022Allianz Group posted strong operating results in all business segments for 2021
German insurer Allianz reported FY2021 total revenues of EUR 148.5 billion, up by 5.7% as compared with 2020 (EUR 140.5 billion). At the same time, operating profit jumped by 24.6% to EUR 13.4 billion (12M 2020: EUR 10.8 billion).
22 February 2022Aon announced USD 7.5 bn share repurchase authorization and 10% increase to quarterly cash dividend
Global re/insurance broker Aon announced that the Board of Directors has authorized an additional USD 7.5 billion in share repurchases.
22 February 2022EC orders Hungary to withdraw its veto over the acquisition of AEGON's Hungarian subsidiaries by VIG by 18 March 2022
The European Commission has concluded that Hungary's decision to veto the acquisition of the Hungarian subsidiaries of the AEGON Group by Vienna Insurance Group (VIG) breached Article 21 of the EU Merger Regulation (EUMR). Hungary has to withdraw its veto by 18 March 2022.
22 February 2022VIG, 2021 preliminary figures: GWP worth EUR 11 bn, gross profit of EUR 510 m, combined ratio - 94.1%
According to preliminary results, Austrian insurer VIG will exceed its expectations for 2021. Thus, based on consolidated, preliminary and not yet audited figures, premium volume will amount to EUR 11 billion, while profit before taxes will be around 510 million euros and the combined ratio will be 94.1 %.
21 February 2022SCOR completes its largest longevity transaction to date
French reinsurer SCOR announced the completion of a GBP 5.5 billion longevity reinsurance transaction covering liabilities of over 17,000 members of the Lloyds Bank No. 1 Pension Scheme. The transaction protects the trustee of the scheme by transferring the risk that members live longer than expected. SCOR was advised by global law firm CMS and WTW was the adviser to the Trustee for the transaction.
21 February 2022Marsh McLennan appoints Hafize Gaye ERKAN to its BoD
Marsh McLennan announced that on nn February 11, 2022, the Board of Directors of the company appointed Hafize Gaye ERKAN, as Director effective on March 1, 2022. With Erkan's appointment, the Company's Board will consist of 14 Directors.
21 February 2022Generali: Gabriele Galateri di Genola to withdraw for the upcoming board renewal
Italian insurer Assicurazioni Generali announced in a statement that its chairman, has announced that he will step down at the expiry of his term in April after 11 years at the top of Italy's largest insurer.
21 February 2022ERGO's Romanian subsidiaries acquisition by SIGNAL IDUNA greenlighted by the market supervisory authority
Romanian insurer SIGNAL IDUNA announced the Romanian Financial Supervisory Authority (ASF) has greenlighted its acquisition of two ERGO subsidiaries for life and non-life insurance. The acquisition was also approved by the Competition Council.
16 February 2022AEGON posted YE2021 net profit of EUR 1.7 bn vs. EUR 55 m in 2020
Dutch insurer AEGON announced its net result doubles compared with the fourth quarter of 2020 to EUR 526 million, while for FY 2021 the company reported an aggregate net result of EUR 1.70 billion compared with EUR 55 million in 2020.
16 February 2022AXA has completed the sale of its business in Singapore to HSBC
French insurer AXA announced that it has completed the sale of its insurance operations in Singapore - AXA Insurance Pte Ltd to HSBC Insurance (Asia-Pacific) Holdings Ltd - a wholly owned subsidiary of the Hongkong and Shanghai Banking Corporation Limited, for a total cash consideration of USD 529 million (or EUR 463 million). The deal that was first announced in August 2021.
16 February 2022NN Life & Pensions to acquire the life insurance arm of ABN AMRO for EUR 253 million
NN Group, ABN AMRO Bank and their joint venture AAV (ABN AMRO Verzekeringen) announcd that they have reached an agreement to sell AAV's life insurance subsidiary to Nationale-Nederlanden Levensverzekering Maatschappij N.V. (NN Life & Pensions).
16 February 2022The Hartford to expand its multinational coverage with Swiss Re Corporate Solutions
Swiss Re Corporate Solutions (the commercial insurance arm of the Swiss Re Group) and The Hartford (a United States-based investment and insurance company) entered into a strategic agreement that expands The Hartford's network of global partners, giving the company's multinational customers broader access to insurance coverage around the world.
16 February 2022Zurich Group in 2021: best results in its history
Zurich Insurance Group reported very strong profits for the full year 2021. Business operating profit and net income attributable to shareholders were the highest since 2007. Growth was achieved in all segments, with commercial insurance in particular benefiting from disciplined underwriting, higher prices and an increase in new business.
10 February 2022Talanx to post its first billion-euro profit in 2021
German insurer Talanx informed its FY2021 Group net income exceeded the EUR 1 billion mark for the first time based on unaudited consolidated figures, despite historically high net claims expenses.
10 February 2022AON posted robust 2021 revenue growth
Global re-insurance broker AON posted 4% growth in Q4 2021 revenue to USD 3.08 billion and 10% growth in FY 2021 revenue to USD 12.19 billion, due to double-digit increases reported in Commercial Risks and Reinsurance Divisions.
10 February 2022SCOR reports double digit increase in treaty portfolio during complex January renewals
French reinsurer SCOR announced premium growth of 19% and an overall average price increase of 4.9% in P&C reinsurance during the "complex and prolonged" January renewal season.
9 February 2022
