Marsh McLennan (MMC) announced the appointment of Susan Potter as US and Canada Commercial Officer, effective immediately.
Swiss Re reported a net income of USD 2.5 billion in 9M 2023, with a profit of USD 1 billion in the third quarter. All businesses contributed to the strong result. Swiss Re maintains its guidance for full-year targets, including a Group net income of more than USD 3 billion.
Consolidated income from insurance sales of Croatia Osiguranje Group of companies amounted to EUR 348 million, 11% more y-o-y. The consolidated net profit for the same period was EUR 31.2 million, the Group said. Yet, adjusting 9M2022 results according IFRS 17, for comparability, 9M2023 net profit fell by 27% y-o-y.
MARSH McLENNAN (MMC) reported Q3 2023 revenue of USD 5.4 billion, an increase of 13% compared with the third quarter of 2022. Operating income was USD 996 million, an increase of 26% from a year ago. Net income attributable to the Company was USD 730 million, or USD 1.47 per diluted share, compared with USD 1.08 in Q3 2022.
Following the decision of Romanian ASF from 17 March to withdraw the license of Euroins Romania, the Bulgarian energy-financial holding Eurohold – the owner of Euroins Insurance Group mentioned in a statement that it officially informed the Government of Romania of their intention to initiate an international arbitration to “protect the group’s investment in Romania, unless the current dispute over Euroins Romania’s case is remedied quickly, and the damages caused to the group are duly compensated”.
Global re/insurance broker Aon reported Q3 2023 total revenue worth USD 2.95 billion, up by 10% y-o-y, while total operating expenses increased from USD 2.10 billion to USD 2.26 billion.
Allianz Commercial informed it has appointed Elke Vagenende as Commercial Managing Director for ‘Benelux and Nordics’ region.
Allianz Commercial has appointed Claudia Valencia as Global Head of Portfolio Solutions, joining on January 8, 2024. She will be based in London, and report jointly to Chief Underwriting Officer Shanil Williams and Global Head of Distribution Jeremy Sharpe.
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 it signed a joint investment agreement for renewable energy sources with and ENCRO Group.
The Talanx Group expects to report a net income of more than EUR 1.25 billion for the first nine months of the current financial year 2023 due to a strong operating performance of particularly the primary insurance segments, as the German insurance group informed in a statement.
Insured losses from natural disaster events had reached USD 88 billion by the end of Q3 2023 – 17% higher than the 21st century annual average, according to the Q3 Global Catastrophe Recap report launched by Aon plc.
Due to consistently good operational performance in all business segments, in Q3 of 2023 Munich Re posted a preliminary net result of ~EUR 1.2 billion. The result for 9M was thus EUR 3.6 billion, the group announced.
VIG Re, the reinsurance company of Vienna Insurance Group, announced that Frank REICHELT will join its Supervisory Board, effective of 20 October 2023.
Global reinsurer Munich Re informed it has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software as a Service (SaaS) for the insurance industry’s entire ecosystem.
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, published a systemic risk scenario that models the global economic impact of a hypothetical but plausible cyber-attack on a major financial services payments system, resulting in widespread disruption to global business and potential global economic losses of USD 3.5 trillion.
Italian insurer Generali informed in a statement
that it has reached an agreement with Allianz for the disposal of TUA Assicurazioni S.p.A. The total price for the transaction is EUR 280 million in cash, subject to certain adjustments in line with the market practice for this type of transaction.
American International Group (AIG) announced that David McElroy, currently Chief Executive Officer, General Insurance, will assume the newly created role of Chairman, General Insurance.
Marsh McLennan (MMC) announced that Pat Tomlinson has been appointed President of Mercer, the consulting subsidiary of of MMC. At the same time, Martine Ferland remains Mercer CEO and Vice Chair of Marsh McLennan and will oversee Mercer’s regional leaders until she retires on March 31, 2024.
Reinsurance premiums assumed worldwide amounted to a value of around USD 500 billion in 2022, Insuramore said based on it’s updates global rankings and taking into consideration all forms of reinsurance cover.
Lloyd’s, the world’s leading marketplace for commercial, corporate and specialty risk solutions, announced the appointment of Rachel Turk in the new role of Chief Underwriting Officer. “Rachel Turk will report to Lloyd’s Chief of Markets, Patrick Tiernan, and her start date will be announced in due course”.