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.
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.
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.
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.
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).
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.
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".
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.
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".
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".
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.
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.
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."
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.
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.
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.
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.
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.
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.
Polish insurance group PZU SA announced the resignation of one Supervisory Board Member and one Management Board Member.