German insurer Allianz said it had agreed to sell its 90 percent stake in private bank Oldenburgische Landesbank (OLB) to U.S. private equity firm Apollo for 300 million euros ($336 million). Apollo, which is consolidating the northern German banking market …
Compre, the independent insurance and reinsurance legacy specialist, today announces it has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin. The Ireland-based captive insured the activities of SNC-Lavalin’s business in France from …
Aegon, the Dutch insurer that does most of its business in the United States, on Thursday reported first-quarter net income of 378 million euros ($411 million), helped by the performance of its investment portfolio. [Editor’s note: Aegon’s Q1 net income …
The insurance sector is at risk of being further marginalized by investors because performance reporting has become more complicated as a result of Solvency II, according to a report published jointly by Autonomous Research and Willis Towers Watson. Based on …
Willis Towers Watson has released an updated version of “Unify,” the systems integration and workflow platform. Unify 2.0 introduces new features in response to the tightening of reporting timescales under Solvency II, which continue to pressure insurers to process vast …
Randall & Quilter Investment Holdings Ltd. (R&Q) announced the acquisition of ICDC Ltd., a captive insurer of an American Fortune 500 company, for an undisclosed sum. The name of the former parent of the captive was not released. The company, …
A Brexit trade deal needs to benefit both the UK and the EU – while protecting clients’ access to the London insurance market, according to the London Market Group (LMG), an association representing London’s re/insurance underwriters and brokers. The LMG …
EU capital rules for insurers need some tweaks but are not a deterrent to investment in infrastructure as some insurers’ claim, the Bank of England said on Wednesday. Officials from Aviva and Legal & General, two of Britain’s biggest insurers …
Allianz, Europe’s largest insurer, proposed spending 3 billion euros ($3.2 billion) on buying back its own shares on Thursday after the Munich-based firm posted higher than expected profits and said it was adjusting its policy on budgeting for possible takeovers. …
The January renewals period show that Solvency II will increase demand for reinsurance products as European insurers attempt to strengthen their capital position through risk transfers, Fitch Ratings said. The main beneficiaries are likely to be the financially strongest reinsurers …
