Global broker WTW reported FY2023 revenue worth USD 9.48 billion, an increase of 7% as compared to USD 8.87 billion for the prior year. For the year 2024, the company expects to deliver revenue of USD 9.9 billion or greater.
Generali and TCC-Trieste Convention Center announce the agreement to name the largest multifunctional convention center overlooking the sea in the entire north-east of Italy as the Generali Convention Center Trieste.
German insurer ERGO Group AG – with business in many CEESE markets such as Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Poland - has been recognized as one of the most attractive employers on its “home market” - Germany for the second time in a row by the international consulting institute "Top Employers Institute".
Leading specialty insurer Tokio Marine Kiln (TMK) announced the appointment of Matthew SHAW as CEO with effect from 1 April, subject to regulatory approval. SHAW will succeed Brad Irick who is taking up the position of co-head of international business for Tokio Marine Holdings, which is the parent company of Tokio Marine Group, to drive its international growth ambitions.
Swiss Re increased net income to USD 3.2 billion in 2023, with a net income of USD 748 million in Q4 and delivered a return on equity (ROE) of 22.3% for the full year. For 2024, the Group targets a net income of more than USD 3.6 billion under IFRS.
The German insurance group Talanx informed that based on its consolidated unaudited figures, it is expecting Group net income of EUR 1.58 billion. “This clearly surpasses the original annual target of approximately EUR 1.4 billion”.
Lloyd’s has announced it will partner with Sherbro Alliance Partners (SAP) to support economic resilience and growth opportunities on Sherbro Island, Sierra Leone, as part of a landmark sustainable development initiative that aims to put nature and renewable energy at the centre.
Global commercial insurance rates increased by 2% in the fourth quarter of 2023 (down from a 3% increase in Q3), according to the Global Insurance Market Index
released by the global insurance broker Marsh, a business of Marsh McLennan. “The fourth quarter marks the 25th consecutive quarter of rate increases”, as the insurance broker informed in a statement.
Insurance premium collections by the Euroins Ukraine, a subsidiary of European insurance company Euroins Insurance Group (EIG), increased by 20.4% y-o-y, to UAH 564.909 million in 2023, Ukrainian media said, citing the Euroins Ukraine management's interim report published in the information system of Ukraine's National Securities and Stock Market Commission.
After a successful one-year pilot project, UNIQA Insurance Group AG will become a permanent member of the Eurapco Alliance in 2024, the Austrian group announced in a press release.
Zurich Insurance Group announced that it has been informed that Viridium Group will not complete the purchase of Zurich Life Legacy in Germany as planned.
Italian insurer Generali announced that it has completed the acquisition of Liberty Seguros, a Spanish insurance company operating in Spain, Portugal, Ireland and Northern Ireland, from Liberty Mutual. The agreement for the transaction was announced on 15 June 2023, being the “Generali’s largest deal in a decade”, as the insurer informed in a statement.
Global re/insurance broker Aon reported FY2023 total revenue USD 13.4 billion, +7% compared to the prior year, while the net income attributable to Aon shareholders decreased to USD 2,564 million, or USD 12.51 per share, compared to USD 2,589 million / USD 12.14 per share, in the prior year.
VIG Re, the reinsurance company of Vienna Insurance Group, is pleased to announce that Tobias SONNDORFER has been appointed as the Vice-Chairman of the Board of Directors with effect of February 1, 2024.
Dr. Günter Geyer announced that he will no longer be available as Chairman of the Supervisory Board of Vienna Insurance Group (VIG) at the end of his current mandate.
The UNIQA Group launches a HUB for International Programs in Poland, which will be a competence center for 15 countries in Central and Eastern Europe where the insurer is present.
Allianz Research's latest report sheds light on the expanding economic gap between the United States and the Eurozone, revealing significant disparities in growth and innovation since the Euro's introduction in 1999.
MARSH McLENNAN reported for the full year 2023, revenue worth USD 22.7 billion, an increase of 10% compared with 2022. Operating income was USD 5.3 billion, and adjusted operating income rose 17% to USD 5.6 billion. Net income attributable to the Company was USD 3.8 billion, while Earnings per share increased 25% to USD 7.53. Adjusted earnings per share increased 17% to USD 7.99.
Aviva announces that it expects to receive approximately GBP 80 million of additional proceeds relating to the sale of Aviva’s stake in Singapore Life Holdings Pte Ltd (Singlife), together with two debt instruments, to Sumitomo Life Insurance Company (Sumitomo Life).
The 2024 Climate and Catastrophe Insight report
published by Aon reveals that the 398 global natural disaster events caused a USD 380 billion economic loss during 2023 (2022: USD 355 billion) – 22% above the 21st-century average – driven by significant earthquakes and relentless severe convective storms (SCS) in the United States and Europe.