News - Re/Insurance groups

AGCS 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).

SCOR 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.

Marsh 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.

AXA 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.

The 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.

Zurich 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.

Talanx 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.

AON 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.