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.
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".
Austrian insurer Vienna Insurance Group announced in a statement it launched together with C-Quadrat Investment Group a joint venture investment fund company in Poland: VIG / C-QUADRAT TFI S.A.
Re/insurance broker Aon announced new global leadership roles in Reinsurance Solutions "to enable greater focus on creating client value, product and market segmentation and regional reach".
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.
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.
In 1H2021, the Sava Insurance Group generated EUR 363.7 million in operating revenue and a net profit of EUR 43.5 million. Operating revenue and net profit represented 53.1% and 82.1%, respectively, of the full-year targets.
In 1H2021, UNIQA Insurance Group generated earnings before taxes of nearly EUR 216 million, while premiums written rose by 17%. This is predominantly due to the successful integration of the former AXA companies in CEE, but also to the almost 2% increase in GWP in Austria.
Reinsurance broker Guy Carpenter part of Marsh McLennan announced today the appointment of Michael Harden as President of Asia Pacific, with immediate effect.
Global reinsurer Swiss Re announced changes in the leadership of its Reinsurance Business Unit. Thus, effective 1 January 2022, Jason Richards has been appointed Country President and CEO UK & Ireland. He will be succeeded by Julie Stephenson as Global Head of Casualty.
Global re/insurance broker Willis Towers Watson announced that its BoD has unanimously selected Carl Hess as the company's new president and next chief executive officer (CEO).
Slovene Triglav Group reported H1 2021 aggregate gross profit of EUR 56.2 million, which is 39% more than in the same period last year and 35% higher than in the first six months of 2019, according to the "Unaudited Report of Triglav Group and Zavarovalnica Triglav for H1 2021" posted on the Ljublijanksa Borza
(Ljublijana Stock Exchange) website.
Zurich Insurance Group announced the successful placement of CHF 200 million of senior unsecured notes. The Notes will mature in August 2031.
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
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.
On 12 August 2021, the European Commission decided to grant competition clearance to the acquisition of the Aegon business in Central and Eastern Europe (Hungary, Poland and Romania) by Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG), the Austrian group announced.
German insurance group Talanx announced its half year operating profit increased to EUR 1.3 billion vs. EUR 0.7 billion a yar before. "Coronavirus effects substantially lower than in the first half of 2020", as the insurer announced in a statement.
Munich Re generated a profit of EUR 1,695m in the first half of 2021. The impact of COVID-19-related losses on reinsurance business came to EUR 505 million, out of which EUR 203 million was attributable to the property-casualty segment and EUR 302 million to life and health reinsurance.
Global insurer AXA has announced in a statement AXA's Board of Directors decided to propose the renewal of Thomas Buberl's mandate as a member of AXA's Board of Directors and Group Chief Executive Officer.
Swiss Re Corporate Solutions appointed Marilyn Blattner-Hoyle as Global Head Trade Finance in its Global Credit & Surety unit, effective 18 August 2021.