Insurance

Supervisory Board Chair NN Group steps down

NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.

ALLIANZ reported highest net income in the last decade

German insurer ALLIANZ announced its FY2018 total revenues grew by 3.5% y-o-y, to EUR 130.6 billion, while the operating profit was up by 3.7% to EUR 11.5 billion "in the upper end of the Group's announced target range of EUR 10.6 billion to EUR 11.6 billion and the highest in our history".

AXA XL to cut over 700 jobs in Europe

AXA XL has presented the plan for its future target operating model and organizational structure of the business, which includes the reduction of 711 positions in Europe, out of a workforce of 9500 employees globally.

AXA has completed the sale of its Ukrainian units

The French insurer AXA Group announced it has successfully completed the deal with FAIRFAX Financial Holdings Limited (Canada) to sell its Ukrainian units - the non-life entity (AXA Insurance) and life entity (AXA Insurance Life) - both based in Kyiv, as the Paris-based insurer has said in a statement.