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.
Swiss Re expects insurance market premium growth to continue, driven by increased exposures, risk awareness and evolving client needs.
Re/insurance broker AON announced that the facultative reinsurance broking team within Aon's Singapore Broking Centre and Reinsurance Solutions' APAC facultative team have combined to create a united facultative reinsurance broking team to serve Aon's clients in the Asia Pacific region. The newly combined team is part of Aon's Reinsurance Solutions.
European Bank for Reconstruction and Development (EBRD) and Eurohold
, owner of Euroins Insurance Group
- a regional player operating on 13 CEE and CIS countries, have signed an agreement by which EBRD aims to take over a minority stake in Euroins insurance operations.
After 25 years with SCOR, Sylvie Van Viet will retire in the first quarter of 2022, as the French reinsurer announced in a press release.
American International Group announced that Peter Zaffino, President & Chief Executive Officer, will assume the additional role of Chairman of the Board of Directors, effective January 1, 2022. As previously announced, Brian Duperreault, currently Executive Chairman, will retire from the Board of Directors at year end 2021.
Reinsurance broker Guy Carpenter (GC) part of Marsh McLennan (MMC) announced the appointment of Quentin Perrot as Managing Director, GC Securities, with immediate effect.
At the annual Investor Day taking place on September 8th, SCOR's Executive Committee, led by Laurent Rousseau, Chief Executive Officer, have presented an overview of the extension of the Group's "Quantum Leap" strategic plan, which will run until the end of 2022.
Global P&C premiums are expected to more than double to USD 4.3 trillion in 2040 from USD 1.8 trillion in 2020, as the P&C portfolio composition is expected to shift from lower-risk motor insurance towards higher-risk property and liability lines, according to Swiss Re Institute's sigma study.
SCOR announces changes to its Group Executive Committee that reflect "the importance of transformation and sustainability in the next phase of its strategic development". The new composition, proposed by Laurent ROUSSEAU, Chief Executive Office of SCOR, was supported by the Nominations Committee of the Board of Directors and approved by the entirety of the Board.
Global reinsurer Swiss Re announced plans to create a central cyber underwriting team. John COLETTI will join Swiss Re as Head of Global Cyber. Maya BUNDT, the current Head of Cyber Solutions, has decided to take on a newly created role at the Swiss Re Institute's Cyber Centre of Competence.
The Vienna Insurance Group (VIG) formed a partnership with AfB (Arbeit fur Menschen mit Behinderung / work for people with disabilities), Europe's largest non-profit IT company, in 2011. In 2020 alone, the Austrian VIG companies helped to conserve 213,040kg of raw materials and avoid 630,936kg of greenhouse gas emissions by passing on used IT devices to AfB; five new inclusive jobs were also created.