The European Bank for Reconstruction and Development (EBRD) signed an agreement to acquire a minority stake in Euroins Insurance Group (EIG) by investing EUR 30 million through a capital increase, while Еurohold, the insurance group's parent company, is providing a further equity injection of up to EUR 12 million.
Following its strategic succession planning discussions, the Supervisory Board of German insurer Allianz SE announced changes/decisions to its Board of Management.
Allianz S.p.A., the Italian holding company of the Allianz Group, announced that it has successfully closed the transaction to acquire Aviva Italia S.p.A., the Italian property & casualty (P&C) insurance entity of the Aviva Group, from Aviva Italia Holding S.p.A.
Slovene re/insurance group SAVA RE announced in a statement the resignation of supervisory board member.
Dutch insurance group Achmea announced that Daphne de Kluis will be appointed to company's Executive Board with effect from 12 October 2021. Thus, the Executive Board of Achmea will comprise Bianca Tetteroo (chair), Michel Lamie (vice-chair and CFO), Daphne de Kluis, Robert Otto, Lidwien Suur and Henk Timmer (CRO).
Global re/insurance brokerage firm Marsh McLennan has appointed Denise Sanchez as the Company's Chief Compliance Officer.
Standard & Poor's reaffirmed the "A" Long-Term Credit Rating and Financial Strength Rating with a stable medium-term outlook of Triglav Group and thereby of its parent company and its subsidiary Pozavarovalnica Triglav Re, the Slovene re/insurance group announed in a statement.
Austrian insurer UNIQA announced it successfully concluded the merger of its units with the former AXA subsidiaries in Poland, Czech Republic and Slovakia acquired a year ago
for a total cash consideration of EUR 1.0 billion.
VIG Re has appointed Markus Schmid as new Head of Department Facultative as of 1 September 2021.
Global reinsurer Swiss Re announced it has entered into a partnership with BlaBlaCar and motor insurance specialist L'olivier Assurance in order to create BlaBlaCar Coach, an innovative smartphone app that offers drivers personalized coaching and tips for safer driving, and it will be available with an annual car insurance.
VIG's planned acquisition of the Aegon business in Central and Eastern Europe (Hungary, Poland and Romania) is still hamperd by the negative ruling Hungarian Ministry of Interior, as legal actions taken by the two companies have been not yet successful.
Euroins Romania's shareholders approved a new capital increase amounting to over EUR 24 million (RON 120 million), the third in recent months. The most recent audit showed that Euroins Romania exceeded all financial indicators set by law, with the SCR at 118.5% and the coverage of the MCR at 278.4%.
After 25 years with SCOR, Sylvie Van Viet will retire in the first quarter of 2022, as the French reinsurer announced in a statement. She will be succeeded by Vincent Foucart as CEO of P&C Partners. Christoph Spichtig will then become Deputy CEO of P&C Partners, relocating to Europe in early 2022
Philippe Donnet is proposed to be reappointed as CEO at Generali for a third mandate after the non-executive members of the Board have taken note of its availability to remain CEO for a new term and expressed their "appreciation of the work undertaken, and the results achieved" by the executive.
Standard & Poor's affirmed the "A" (strong) insurer financial strength rating on Sava Re d.d. and Zavarovalnica Sava d.d. The outlook is stable, the company announced in a press release.
SCOR has entered a partnership with French digital farming company ITK and with Skyline Partners, a parametric insurance specialist based in UK, to launch an insurance product, "Heat Stress Protect". It enables dairy farmers and milk collecting companies to protect themselves against economic losses due to heat waves.
German reinsurer Hannover Re anticipates a continuing trend towards higher prices and improved conditions in property and casualty reinsurance for the various rounds of renewals in 2022.
Loyd's of London re/insurance marketplace posted H1 2021 GGWP of GBP 20.5 billion (vs. GBP 20.0 billion) "due to an increase in premium rates, high customer retention and new growth for the first time in four years".
According to a report published today by the global insurance broker Marsh part of MMC, in collaboration with Microsoft, international law firm CMS, and Kivu, a global cyber security firm, malicious cyber events accounted for 80% of cyber claims made in Continental Europe last year, up from 70% in 2019.
MetLife announced that Michael ROBERTS will join the company as Executive Vice President and Chief Marketing Officer, effective Nov. 2, 2021, and subject to necessary approvals. He will report to President and Chief Executive Officer Michel KHALAF.