AEGON's Supervisory Board will propose to the Annual General Meeting of Shareholders in June 2021 to reappoint Matt RIDER as Chief Financial Officer for a four-year term. Matt RIDER was first appointed as AEGON's CFO in 2017.
French reinsurer SCOR annouced three organizational moves "designed to further strengthen the organisation and support future success".
The annual performance of the CCN group increased with 0.2%, showing a satisfactory progress for 2020, with a good underlying business activities and stable income. The digital transformation process was one of the factors helping the company face the COVID-19 challenges.
According to the Q4 2020 Global Market Insights Report released by global re/insurance broker AON, insurance pricing is up across most lines and classes globally, as COVID-19 impacts, including the economic downturn, have resulted in heightened underwriting scrutiny and risk aversion from insurers.
Dutch insurance group AEGON reported a net loss of EUR 147 million in the second half of 2020, compared with a net profit of EUR 908 million in the second half of 2019.
Dutch NN Group announced its operating result increased to EUR 963 million in H2 2020 from EUR 881 million the previous year, mainly driven by "a higher investment margin and lower administrative expenses at Netherlands Life".
German insurer ALLIANZ posted FY2020 total revenues of EUR 140.5 billion,down by 1.3% y-o-y (EUR 142.4 billion in 2019) while its operating profit decreased by 9.3% to EUR 10.8 billion (vs. EUR 11.9 billion), mostly due to the adverse impacts from COVID-19 amounting to approximately EUR 1.3 billion.
Business closings, event cancellation and mortality were the main drivers of the COVID-19 USD 3.9 billion losses, mostly incurred in Q2 and Q4, that have significantly affected Swiss Re's financial result for 2020, pushing it in negative territory.
The election of the Board of Directors of Zurich Insurance Group (Zurich) will take place on April 7, 2021 during the Annual General Meeting which will take place without the physical attendance of shareholders. Sabine Keller-Busse was proposed for election to the Group's Board.
After the successful partnership in Slovakia and Czechia focusing on provision of IT solutions on the Platform as a Service (PaaS), Asseco Central Europe and Youplus Insurance International AG have agreed on another cooperation, aiming to gradually expand in German speaking countries.
New Vision 3 (NV3) and venture capital fund Eleven are investing in Boleron, a software platform for digital insurance, used by the Bulgarian insurance broker Boleron Consulting, around EUR 500 million, to accelerate its expansion in new client verticals across the SEE region, as well as enable team expansion and product development.
Austrian UNIQA's 2020 results exceeded the Group's expectations as formulated in April. GWP went up 3.6% after consolidation of AXA-CEE in Q4, while preliminary earnings before taxes reached EUR 57 million, including the EUR 243 million one-time charges for restructuring, adjustment of goodwill in CEE and AXA integration.
, the digital brand of the Vienna Insurance Group's (VIG) Polish subsidiary, has deployed Guidewire Software, a platform general insurers trust to engage, innovate, and grow efficiently, to underpin its business processes and drive its digital insurance model, the companies have announced.
Belgian fiancial group KBC and the Netherlands-based NN Group announced they reached an agreement for KBC's Bulgarian subsidiary, DZI - Life Insurance, to acquire NN Bulgarian operations for a total consideration of EUR 77.7 million.
Dutch insurance group NN informed its Supervisory Board nominated Cecilia REYES and Rob LELIEVELD for appointment as members of NN Group's Supervisory Board for a term of four years.
Business operating profit (BOP) decreased by 20% at USD 4.2 billion due to the COVID-19-related impact and higher catastrophe losses, but customer and employee satisfaction rise to record high, reflecting quick adaptation to new ways of providing services and protecting employees, as a press release shows
Vienna Insurance Group (Wiener Versicherung Gruppe) has acquired an indirect stake in venture capital fund IST cube (EuVECA) GmbH & Co KG (IST CUBE) for start-ups which develop scientific, engineering and technological innovations on the basis of academic research.
EUR1.8 billion (USD 2.2 billion) is the estimated amount lost due to the low-pressure system 'Filomena,' which caused severe snowfall in Spain, leading to business interruption and property losses. according to the latest edition of Global Catastrophe Recap report launched by Aon plc (NYSE: AON) which evaluates the impact of the natural disaster events that occurred worldwide during January 2021.
SCOR has announced excellent results for the January 2021 renewals, in line with the forecasts shared during its September 2020 Investor day. The reinsurer expects the market to show further price increases and improved terms and conditions for the mid-year renewals season.
German insurance group ALLIANZ will become the sole owner of ALLIANZ China Life Insurance, after ALLIANZ China Insurance Holding and CITIC Trust signed an equity transfer agreement.