News - Re/Insurance groups
Stephan Wirz to join VIG Re BoD
Reinsurer VIG Re announced its Supervisory Board unanimously elected Stephan Wirz as a member of the Board of Directors with effect of May 1, 2021 on its meeting of April 22, 2021.
4 May 2021Bulgaria's FSC Approved Eurohold's capital increase prospectus
Bulgaria's Financial Supervision Commission (FSC) approved urohold's capital increase prospectus, which will allow the Bulgarian holding to raise up to EUR 100 million by issuing new shares on the Bulgarian Stock Exchange (BSE).
4 May 2021AON's Q1 revenues increase 10% to USD 3.5 billion
Re/insurance broker AON reported Q1 2021 revenue of USD 3.52 billion, an increase of almost 10% compared to the prior year period.
4 May 2021Moody's affirmed the SCOR's rating and raised its outlook to 'stable'
French reinsurer SCOR informed that rating agency Moody's affirmed the Group's insurance Financial Strength Rating of 'Aa3' and to raise the outlook to 'stable'.
4 May 2021Q1 MMC's revenues increased 9% y-o-y
Global re/insurance broker MMC (Marsh McLennan) posted Q1 2021 consolidated revenue of USD 5.08 billion (9% more y-o-y) compared with Q1 2020 (USD 4.65 billion)
4 May 2021Warren Buffett chose Greg Abel to lead Berkshire Hathaway
Warren Buffett, CEO of Berkshire Hathaway, has finally named during the annual meeting who would succeed him if he were to step down. He named the Vice Chairman Greg Abel to take over as chief executive officer of the conglomerate he built according toa declaration of Buffett to CNBC.
4 May 2021Carinne Knoche-Brouillon was elected to Munich Re Supervisory Board during the AGM
At the Annual General Meeting (AGM) of Munich Re, Carinne Knoche-Brouillon has been newly elected to the Supervisory Board of Munich Re. She is a member of management at C. H. Boehringer Sohn AG & Co. KG.
29 April 2021Reinsurers pre-tax profit in 2020 strongly affected by the combined impact of the pandemic and NatCat
The 23 global reinsurers included in the Aon's Reinsurance Aggregate (ARA) reported a pre-tax profit of USD 6.9 billion in 2020, around a third of the level seen in 2019, driven by a P&C underwriting loss of USD 5.9 billion and a 23% reduction in the overall investment result to USD 27.6 billion.
29 April 2021By 2050 SCOR targets are to become Net-Zero on investments and reduce the carbon intensity
SCOR will reduce the carbon intensity of its corporate bonds and listed equities portfolio by 27% till 2025 in order to become Net-Zero on investments by 2050 as its public pledge. The target was set in accordance with the Inaugural 2025 Target Setting Protocol developed by the Net-Zero Asset Owner Alliance.
29 April 2021Munich Re will pay a stable dividend of EUR 9.80 per share for 2020 and positive business prospects are foreseen
At the Annual General Meeting was established that for 2020 financial year, Munich Re will a dividend of EUR9.80 per share, the same as in 2019. The overall dividend payout amounts to about EUR 1.37 billion.
29 April 2021For 1Q2021, CCN showed good underlying business activities and a stable income
CCN Group has achieved solid performance during first quarter 2021 with an increase of 8%, mostly driven by the Workers Compensation/Accident business segment, which saw an eminent double digit growth compared with first quarter 2020. CCN intensified its digital transformation process to deliver value to all stakeholders.
29 April 2021SCOR: EUR 45 million income and 5.6% increase on GWP for first quarter 2021
In first quarter 2021, SCOR has demonstrated its shock-absorbing capacity and continued the growth. It has recorded a net income of EUR 45 million and delivered a very high solvency of 232%, which reflects all expected future Covid-19 impacts, above the optimal solvency range of 185% to 220% defined in "Quantum Leap".
29 April 2021New partnership between Chubb and Marsh to secure vaccine injury compensation
Chubb and Marsh announced a collaboration with the World Health Organization (WHO) and Gavi, the Vaccine Alliance (Gavi), to secure insurance coverage for the COVAX No-Fault Compensation Program for 92 low- and middle-income countries. The Program is the first and only vaccine injury compensation mechanism operating on an international scale.
29 April 2021CIG Pannonia is the potential buyer of Hungarian Aegon unit
After the decision of the Hungarian authorities to block the sale of Aegon NV's local unit to Vienna Insurance Group in a regional deal of EUR 830 million sale of Dutch insurer's CEE operations to Austrian insurer, Hungarian CIG Pannonia could be the potential buyer, Bloomberg informed here.
26 April 2021Lloyd's appoints new rating agency and receives AA- financial strength rating
Lloyd's announced that it has appointed Kroll Bond Rating Agency (KBRA) to provide an additional independent opinion of Lloyd's financial strength "and further demonstrate the market's exceptionally strong financial position to investors and customers".
26 April 2021Partnership between Eurohold and J.P. Morgan AG for taking over the assets of the CEZ group in Bulgaria
Eurohold, the Bulgarian public holding and an independent financial and insurance group operating in the CEE/SEE/CIS region, has mandated J.P. Morgan AG to act as its lead and exclusive arranger for structuring the debt financing related to the deal with CEZ Group.
26 April 2021AON: ARA's 2020 GWP increased by 6% y-o-y to USD 294 billion
Despite the combined effects of around USD 25 billion of pandemic and natural catastrophe related losses and a compromised investment return, Aon's Reinsurance Aggregate (ARA) of reinsurers was able to report positive earnings for the year and an increased capital base, aided by demonstrated access to new funding.
22 April 2021Christophe GAUDRON and Michel DEN BOER are named at Guy Carpenter on European Area
Guy Carpenter & Company announced the appointments of Christophe GAUDRON as CEO, Guy Carpenter France, effective January 01, 2022, and Michel DEN BOER as Managing Director, Treaty Broking, Guy Carpenter Benelux, with immediate effect.
22 April 2021Swiss Re: Financial Condition Report issued for legal entities domiciled in Switzerland
Swiss Re has published the 2020 Financial Condition Report for the Swiss Re Group and regulated re/insurance legal entities domiciled in Switzerland for the reporting period ended 31 December 2020.
22 April 2021Major economies could lose roughly 10% of GDP in 30 years reveals Swiss Re Institute's stress-test analysis
Swiss Re Institute has issued the Climate Economics Index a stress-tests analysis on how climate risks will impact 48 countries representing 90% of the world economy and ranks their overall climate resilience. It shows all countries will be affected, but some are more vulnerable than others.
22 April 2021XPRIMM Newsletter
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