News - Re/Insurance groups

SCOR posted increasing Q2 revenue

French reinsurer SCOR posted insurance revenue of EUR 3,930 million in Q2 2023, up +4.3% compared to Q2 2022. At the same time, P&C combined ratio of 88.5% (-24.6 pts compared to Q2 2022). SCOR informed it generates EUR 192 million net income in Q2 2023, contributing to EUR 502 million net income in H1 2023

AXA business up 2% to EUR 55.7 billion in H1 2023

French insurance group AXA informed its H1 2023 gross written premiums and revenues increased by 2% y-o-y to EUR 55.7 billion. At the same time, AXA posted underlying earnings worth EUR 4.1 billion, up by 5% y-o-y, the company being on track on track to deliver the 2023 target worth EUR 7.5 billion.

Marsh announced top management changes at the Credit Specialties business line

The insurance broker Marsh announced the appointment of Angela Duca as Global Head of Credit Specialties, Marsh Specialty. She succeeds Nick Robson, who has been named Global Chairman, Credit Specialties. “The appointments are effective immediately and both will report to Pat Donnelly, President, Marsh Specialty and Global Placement”.

Aegon to exit joint venture in India

Dutch financial group Aegon announced the sale of its 56% stake in its joint venture in India, Aegon Life Insurance Company, to Bandhan Financial Holdings Limited, an Indian financial services company.

Top rating for VIG confirmed by S&P

On 27 July 2023, the international rating agency Standard & Poor's (S&P) confirmed Vienna Insurance Group's (VIG) rating of "A+" with stable outlook. “This means that VIG continues to be one of the companies with the best rating in the ATX of the Vienna Stock Exchange”.

Allianz Commercial launches in global Property & Casualty markets

At the end of July, German re/insurance group Allianz announced that Allianz Global Corporate & Specialty (AGCS) together with the commercial insurance business of local Allianz Property & Casualty (P&C) entities will begin to trade as “Allianz Commercial”.

Nienke Meijer new member of Achmea’s SB

Dutch insurer Achmea announced that Nienke Meijer was appointed as a member of Achmea’s Supervisory Board for a period of four years. The appointment has been approved by the Dutch central bank. Nienke Meijer fills the vacancy that arose when Lineke Sneller stood down in April.

Marsh appoints Charles Williamson as CEO of Victor

Global insurance broker announced the appointment of Charles Williamson as CEO of Victor, its leading global managing general underwriting business. He succeeds Brian Hanuschak, who has been named Chairman of Victor. The appointments are effective August 1.

Marsh appointed Pat Donnelly as President, Marsh Specialty and Global Placement

Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan announced that Pat Donnelly has been appointed as President, Marsh Specialty and Global Placement, effective immediately. He will continue to be based in Chicago and reports to Martin South, President and Chief Executive Officer, Marsh.

AIG names Christopher Schaper Global CUO

American International Group (AIG) announced that Christopher Schaper, currently CEO of AIG Re, has been named Global Chief Underwriting Officer of AIG, effective as of the closing of the previously announced sale of Validus Re to RenaissanceRe, which is expected to occur in the fourth quarter of 2023.

How does VIG’s new CEO define himself?

Familyman, strategist and philosopher are the three words with which Hartwig Löger, the new CEO of the Vienna Insurance Group (VIG) defines himself in a short video recording published on the Group’s website.

Croatia Osiguranje's owner, Adris Grupa performed above the pre-crisis levels

Croatian conglomerate ADRIS Grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region) informed that last year all three businesses have increased their sales revenues, "the tourism business in particular, driven by the relatively quick recovery of the tourism market".