This week in Insurance: Generali strengthens EU business with purchase of AXA Greece

Mergers and Acquisitions
Empower Retirement closes acquisition of MassMutual Retirement Plan business
The acquisition increases Empower’s participant base to more than 12 million and retirement services recordkeeping assets to approximately USD 884 Bn. Read More>>
NN Group completes integration of VIVAT Non-Life business

The acquisition will add scale and further strengthen NN Group’s leading Non-life platform in the Netherlands and enable them to improve their customer propositions, create synergies and increase shareholder returns. Read More>>

Brown & Brown acquires Berry Insurance Group
Berry Insurance Group is one of the most prominent insurance brokerage agencies in Ohio, providing commercial and personal insurance products for business and individual customers throughout the Cincinnati tri-state area. Read More>>
AXA agrees to €165mn sale of operations in Greece to Generali
The agreement will see AXA sell its Life & Savings and Property & Casualty businesses in Greece and is seen as a continuation of AXA’s simplification journey. This will also enable Generali to optimize its strategic positioning in the country, allowing for a multi-channel, dynamic business and securing significant economies of scale. Read More>>

Partnerships
AU Small Finance Bank ties up with ICICI Prudential Life to offer life insurance solutions
The partnership with AU Bank will enable ICICI Prudential to further strengthen the multi-channel distribution network in the country’s semi-urban and rural geographies. Read More>>
Allianz Group exits China Pacific Insurance joint venture
CPIC will hold 85% of the unit, and its subsidiary China Pacific Life Insurance Co. Ltd. will hold 15%. After the transfer, CPIC Allianz Health Insurance will change its name to CPIC Health. Read More>>
Alpha Bank teams up with Generali to distribute bancassurance
The new partnership leverages the consolidation of AXA’s Greek operations into Generali, which becomes a leading player in non-life and health insurance. Read More>>
SimplyBiz teams up with Aviva for DB transfer referrals
The DB transfer referral bureau panel provides a solution to those SimplyBiz members who are either unable to or choose not to, operate in the DB transfer market but still want to meet the needs of their clients in this area. Read More>>

Executive Movement
Arch promotes Papadopoulo to President and CUO
Nicolas Papadopoulo joined the insurer and reinsurer in 2001 and will now be responsible for the company’s insurance, reinsurance, and mortgage operating segments, alongside oversight of the Strategy and Innovation team. Read More>>
AXA Mansard gets new Non-Executive Director, Kuldeep Kaushik
Kuldeep has 18 years of experience and is currently the Chief Operating Officer of AXA International and New Markets. The appointment follows the resignation of Mr. Lesley Ndlovu and Mr. Thomas Wilkinson from the company board. Read More>>
Aviva Investors appoint Mark Versey as CEO
Mark Versey will be replacing Euan Munro. Versey is currently the CIO for the unit’s USD 64.31 Bn Real Assets division, which invests in infrastructure, real estate and private debt markets. Read More>>
Ryan Specialty hires former Aon exec Jon Zern to lead new benefits unit
The former Aon PLC executive will be President and CEO of Ryan Specialty Benefits, which will include its wholesale and managing general underwriting benefits business. Read More>>

Headlines From The Startup World

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Latest Insights & Reports

The Hanover Insurance Group, Inc. Account Intelligence Report: The company has partnered with DataCubes to enhance its agent’s experience and streamline its underwriting process. They have also invested significantly into their professional lines solutions with enhancements to its Hanover Accountants Professional Advantage products. Read more

Mitsui Sumitomo Insurance Group Holdings, Inc. Account Intelligence Report: Mitsui Sumitomo Insurance Group has turned their focus on promoting digitization and continuing to advance the development of digital technology-based products and services that help resolve societal challenges and meet customer needs.
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