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.

Q1 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)

For 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.

SCOR: 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".

New 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.

CIG 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.

AON: 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.