News - Insurance

SLOVENIA: Sava Re proposes dividend for shareholders

Slovenian Sava Re is going to pay a gross dividend of EUR 0.95 per share, EUR 14.7 million in total, or 34.23% of 2018 net profit of the Sava Re Group, the reinsurer said in an official statement.

VIG Re has new Chief Underwriting Officer and head of CEE market

After opening new branch offices in Frankfurt and Paris, VIG Re announced organizational changes. Olaf DIETRICH will be the new Chief Underwriting Officer, leading the newly formed Corporate Underwriting Department, while Petr STEPAN will head the new CEE market department.

GEORGIA: MARSH enters local market

MARSH, a global leader in insurance broking and risk management, advising clients in over 130 countries, is beginning operation in Georgia, in partnership with the ARRIBA company, Business Georgia reports.

RUSSIA: insurers' profit in 2018 grew by almost 70%

According to the Bank of Russia, in 2018 the insurer profit grew by almost 70% to RUB 204.1 billion (vs RUB 120.6 billion in 2017). Return on equity reached 31.2%, total assets increased by more than 20% and exceeded RUB 2.9 trillion, based on the survey of key indicators of insurer activity in 2018.

Willis Towers Watson acquires TRANZACT

Willis Towers Watson is acquiring TRANZACT for USD 1.2 billion in closing consideration, with potential earn-out of up to USD 200 million, payable in either cash or stock by 2021, if certain financial targets are achieved.