News - Re/Insurance groups
57% of Europeans expect to travel during this summer, although their travel budgets dropped over 20% from 2019
The 20th Aniversary edition of the 2021 Holiday Barometer has been puplished by the Europ Assistance ("EA"), conducted by Ipsos, a global research firm. Over 14.000 people were questioned between May 5th and May 20th in order to investigate consumer holiday plans and travel preferences.
24 June 2021SCOR has received an 'AA-' Financial Rating with stable outlook
Standard and Poor's (S&P) has decided to affirm SCOR's Group Financial Strength Rating of 'AA-' with a stable outlook as the company has demonstrated its ability to absorb the shock of the pandemic, to continue to grow, to maintain its profitability and to strengthen its solvency even further.
24 June 2021Swiss Re sells stake in Phoenix Group for GBP 437 million
Swiss Re announced that it has reduced its shareholding in Phoenix Group Holdings plc, by selling an approximately 6.6% stake for GBP 437 million. The Phoenix stake was acquired by Swiss Re last year in the sale of its ReAssure subsidiary.
24 June 2021RISK RADAR REPORT: Insurance buyers move online permanently after a year of cultural change
Global Insurance Law Connect (GLIC), a formal network of insurance law firms, has issued the Risk Radar Report which highlights the follow-on impact of the 'powering up' of digital marketing, sales and claims processing, as insurance buyers around the globe move online permanently after a year of cultural change.
24 June 2021Generali to acquire a majority stake in AXA Affin joint venture Malaysia
Generali signed an agreement in Malaysia to acquire a 70% stake in AXA Affin Life Insurance joint venture (49% from AXA and 21% from Affin) and approximately a 53% stake in AXA Affin General Insurance joint venture (49.99% from AXA and 3% from Affin and minorities).
24 June 2021Bulgarian FSC granted the acquisition of NN's local units by DZI
Bulgarian FSC (Financial Supervision Commission) announced that it granted approval to local insurer DZI - Life Insurance (part of Belgian KBC) to acquire the Bulgarian pension and life insurance business of Dutch-based NN Group.
22 June 2021From 2022 the largest Czech insurer will not continue to insure CEZ Group's conventional coal-fired power plants
Generali CEE announced that from 2022, its Czech unit - Generali Ceska pojistovna will not continue to insure CEZ Group's conventional coal-fired power plants. "This decision to end the cooperation in the field of coal insurance was reached after a mutual agreement between the largest Czech insurance company and CEZ Group".
22 June 2021Allegra van Hovell-Patrizi appointed CEO of Aegon the Netherlands
Dutch insurance group Aegon announced last week that Allegra van Hovell-Patrizi will succeed Maarten Edixhoven as CEO of Aegon the Netherlands and member of the Management Board of Aegon N.V., effective immediately.
22 June 2021Andrej Andoljsek appointed Chairman of the Supervisory Board of Zavarovalnica Triglav
Slovene insurance group TRIGLAV announced the appointment of Andrej Andoljsek as Chairman of the Supervisory Board of Zavarovalnica Triglav d.d. :"The Supervisory Board of Zavarovalnica Triglav d.d. met for the first time in its new composition on 18 June 2021 and appointed Andrej Andoljsek Chairman of the Supervisory Board of Zavarovalnica Triglav".
22 June 2021PZU appointed attorney Pawel Mucha as Member of the Supervisory Board
Polish largest insurer PZU SA (Powszechny Zaklad Ubezpieczen Spolka Akcyjna) announced on 16 June 2021 the Company's Ordinary Shareholder Meeting appointed Pawel Karol Mucha as Member of the Company's Supervisory Board. "The resolution came into force upon its adoption".
22 June 2021After Covea, SCOR settle dispute with Barclays
The global re/insurer SCOR and British multinational universal bank, Barclays have succeeded to put an end to their before the High Court in London on mutually beneficial terms.
17 June 2021Madalin Rosu re-elected as President of BAAR; Tania Blatnik from Euroins is the new member of the Board of Directors
The Romanian Motor Insurers Bureau (BAAR) has annaounced the new leading team where Madalin Rosu, a representative of OMNIASIG, has been re-elected as President. EUROINS Romania returns to the management of the association and Tanja Blatnik, General Manager of the company, became the newest member of the Board of Directors.
17 June 2021Aon and Willis Towers Watson disagree with the action taken by the U.S. Department of Justice
AON and Willis Towers Watson shared the following statement in response to the legal action taken by the U.S. Department of Justice: "We disagree with the U.S. Department of Justice's action, which reflects a lack of understanding of our business, the clients we serve and the marketplaces in which we operate."
17 June 2021AON: The cyber insurance premiums show a 21% increase after one year and double over a five-year period
The annual U.S. Cyber Market Update issued by AON analyses the profits and performance of U.S. cyber insurers during 2020. The sixth edition of the report shows an increase of 21% in 2020 compared to 2019 of the U.S. cyber insurance direct written premiums.
17 June 2021S&P Global affirmed "A-" financial rating and a Stable outlook for IGI company
S&P Global Ratings has affirmed the financial strength ratings at "A-" for International General Insurance Holdings Ltd. (IGI), an international specialty risks commercial insurer and reinsurer. The rating company also affirmed that the outlook of IGI is stable.
17 June 2021VIG targets top positions in the CEE markets and reorganizes its regional responsibilities structure
Holding a Top 3 position in each CEE market where it operates, except for Slovenia, is the goal set by the Vienna Insurance Group (VIG) for 2025. "We want to achieve this through organic growth, but we will also consider possible acquisitions," CEO Elisabeth Stadler told SeeNews in a recent interview.
16 June 2021The saga between SCOR and Covea came to an end
The French insurers have agreed the signing of a settlement in order to restore peaceful relations. Covea and SCOR have decided to renew the relationship based on professionalism and mutual support that they enjoyed for many years and in keeping with their respective independence.
16 June 2021UNIQA Group, 1Q2021: consolidation of the AXA companies in Poland, the Czech Republic and Slovakia already yielded positive results
Austrian Insurance Group UNIQA started 2021 with a strong performance: an underwriting result of EUR 62.5 million, while the investment result reached EUR 150.1 million. The consolidation of the AXA companies in Poland, the Czech Republic and Slovakia has already resulted in positive effects.
16 June 2021Aon Catastrophe Report: Preliminary combined economic toll tops USD 4 billion
AON has launched of its monthly Global Catastrophe Recap report, which evaluates the impact of natural disaster events worldwide during May 2021.According to the report, U.S. insurers face a multi-billion-dollar payout, as convective storms resulted in extensive hail, tornado, wind and flood damage.
16 June 2021PZU announced two Board resignations
Polish insurance group PZU SA announced the resignation of one Supervisory Board Member and one Management Board Member.
10 June 2021
