French insurance group AXA announced that it has completed the acquisition of the remaining 50% stake in Chinese insurer AXA Tianping Property & Casualty Insurance Company Ltd from its domestic shareholders, becoming the largest 100% foreign-owned P&C insurer in local market.
New York Life Insurance Co. made a USD 6.3 billion acquisition deal of a Cigna Corp. unit that sells life and disability insurance, Bloomberg
Mirela Agache Durand is joining Groupama to be nominated by the Board as Chief Executive Officer at Groupama Asset Management.
The third round of pitches in Vienna Insurance Group's "VIG Xelerate" digitalisation initiative ended in November 2019. VIG is providing around EUR 5 million to promote award-winning projects submitted by its Group companies.
On December 12, 2019, the Supervisory Board of Munich Re has appointed Dr. Achim KASSOW (53) to the Board of Management with effect from 1 May 2020.
On December 13, 2019, Fitch Ratings made the announcement of upgrading Adriatic Slovenica d.d.'s (Adriatic) Insurer Financial Strength (IFS) Rating to 'A' from 'BBB+'.
On December 13, 2019, AM Best announced the revision of the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Barents Re and Barents Re Lux.
For the third year in a row, Vienna Insurance Group (VIG) has received the gold award for the insurance industry at the annual BEST RECRUITERS ranking.
GENERALI announced as of 10 December 2019 Antonella MAIER and Andrej BUKOVCAN are becoming new members of the Executive Committee of Prague-based GENERALI CEE Holding B.V. Antonella MAIER will become Chief Insurance Officer for Life and Health Business in Austria, CEE & Russia Region, while Andrej BUKOVCAN will take the position of ExCo Member, remaining responsible for HR & Organization for the whole Region.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Colonnade Insurance S.A. (Luxembourg), a member of Fairfax Financial Holdings Limited (Fairfax). The outlook of these Credit Ratings (ratings) is stable.
GENERALI, through the Argentinian subsidiary La Caja, stipulated a distribution agreement in Argentina with Mercado Libre, the biggest e-commerce operator in South America in order to distribute non-life insurance.
Global Parametrics (GP), the provider of parametric protection against climate risks in developing markets and the German Federal Ministry for Economic Cooperation and Development (BMZ), in partnership with the German Development Bank (KfW) and reinsurer HANNOVER Re jointly announce the formation of the Natural Disaster Fund (NDF) Deutschland. NDF will invest in risk transfer instruments relating to natural catastrophes and climate risks in developing markets.
At the end of November 2019, Marsh announced that John DRZIK, President, Global Risk and Digital (GR&D), will step back from full-time responsibilities as leader of GR&D effective January 1, 2020, but will remain involved with the business as a senior advisor.
At the beginning of December 2019, FRISS appointed Dan GUMPRIGHT as the Global VP of Products.
On November 5, 2019, CCR announced the appointment of Sebastien JALLET as Chief Investment Officer.
Swiss Re announced today an agreement to sell its subsidiary ReAssure Group plc to Phoenix Group Holdings plc.
Standard & Poor's (S&P) placed UNIQA Group on CreditWatch Positive after the Austrian insurer announcement of a possible merger between two of its branches.
Italian insurance group Generali could postpone presenting a formal bid for the European assets of MetLife Inc. until end March 2020, after the 2019 year-end results will be known, international news agencies report. Currently, the talks between the two parts are stalling because the difference of opinion on the operation's value.
SCOR announced the launch of a new three-year contingent capital facility. This takes the form of a contingent equity line, providing the Group with EUR 300 million coverage in case of extreme natural catastrophe or life events impacting mortality.
In October 2019, Japan was hit by Typhoon Hagibis, one of the worst storms in the region in decades. According to latest estimates, the claims payable by Sava Re under its reinsurance treaties will exceed EUR 5 million.