News - Re/Insurance groups

Arthur J. Gallagher & Co. to acquire WTW's Treaty Reinsurance brokerage operations

Arthur J. Gallagher & Co. recently announced an agreement to acquire the treaty reinsurance brokerage operations of Willis Towers Watson plc for a total consideration that may reach USD 4 billion. The transaction is subject to customary regulatory approvals and expected to close during the fourth quarter of 2021.

NN Group posted H1 net profit of EUR 1.41 billion

At the end of June 2021, the NN Group's net profit increased to EUR 1.41 billion compared with EUR 587 million in the first half of 2020. At the same time, the Dutch financial group noted that the operating result increased to EUR 1.12 billion from EUR 926 million in the first half of 2020, "with almost all segments reporting higher results".

Talanx strengthens its market position in Latin America

Talanx is strengthening its presence in the insurer's strategic target region of Latin America. The Chilean subsidiary company HDI Seguros and state-owned bank BancoEstado have signed an exclusive agreement for the coming 13 years covering the sale of non-life insurance products. The partnership is scheduled to start on 1 January 2022 and secures Talanx its market position among the Top 5 non-life insurers in Chile for the long term.

VIG, 1H2021: Profit before taxes rises 25% to EUR 251 million

Austrian Vienna Insurance Group ended 1H2021 with a 3.5% increase in the premium volume, to EUR 5.77 billion and 25% increase in the profit before taxes, to EUR 251 million. All key figures show significant improvements y-o-y, indicating that performance continues to be highly stable during the ongoing Covid-19 pandemic.

Zurich half-year profit increased 60% y-o-y to USD 2.7 billion

Global insurance and reinsurance group Zurich has reported half-year 2021 business operating profit (BOP) of USD 2.7 billion, an increase of 60% compared with USD 1.7 billion in the first six months of 2020, while the net income after tax attributable to shareholders was USD 2.2 billion, an increase of 86% compared with the prior-year period

Hannover Re expects YE profit of EUR 1.25 billion following HY results

Global reinsurer Hannover Re has reported Group net income of EUR 670.6 million for the first half of 2021 (vs. EUR 402.4 million), while the operating profit (EBIT) on the Group level improved substantially to EUR 956.1 million (EUR 503.5 million). At the same time, group GWP increased by 10.0% to EUR 14.5 billion (EUR 13.1 billion). For the full year 2021, the reinsurer continues to expect net income in the range of EUR 1.15 billion to EUR 1.25 billion.