Insurance News ME

ING get approval for Ukrainian life insurance

Dutch bank ING has been given the regulatory green light to begin life insurance activities in the Ukraine.

ING sees fastest growth on voluntary pensions

Voluntary pensions fund ING Optim, managed by ING Asigurari de Viata (ING Life Insurance) saw the fastest rise in terms of assets and in terms of number of participants in June, according to data from the Private Pensions Supervisory Commission.

Aviva, Zurich Financial to cut jobs in the UK

Britain’s largest insurer Aviva is to cut up to 1,800 jobs by the end of 2010 as part of an overhaul of its United Kingdom insurance operations, company officials said.

ING to acquire Turkish voluntary Pension Fund Oyak Emeklilik for EUR 110 million

ING announced on June 17 it has reached an agreement with OYAK Group to acquire the voluntary pension fund Oyak Emeklilik.

Aviva says Amro ends Dutch joint venture

Aviva said its Dutch-based business Delta Lloyd has been notified that ABN Amro will end its 30-year bancassurance agreement and wants to buy out the insurer's share of the joint-venture.

Allianz Upgrades 2 Turkish JV Stakes For EUR373.2 Million

Germany's Allianz SE (AZ), Europe's largest insurer by gross premiums, Monday said it is expanding its business in Turkey by increasing stakes in two joint ventures to own a majority in both companies.

Munich Re expects profit dip in 2008

MUNICH, Germany (Reuters)—Munich Reinsurance Co. expects net profit to decline to a range of €3.0-3.4 billion ($4.8-5.4 billion) in 2008 from last year's record amid tough market conditions, its chief executive said on Thursday.

Generali has potential 4.5 billion to 5 billion euros for acquisitions

Assicurazioni Generali SpA has a potential war chest of 4.5 billion to 5.0 billion euros for acquisitions, Generali CEO Giovanni Perissinotto said.

Aviva unit Hibernian to buy Irish health insurer

Hibernian Group, the Irish arm of Britain's biggest insurer Aviva, said on Sunday it planned to enter Ireland's health insurance market by buying 70 percent of Vivas Group Ltd.

Fondiaria-SAI sells Po Vita stake to Credit Agricole for 105 mln eur

MILAN - Fondiaria-SAI SpA has sold its 50 pct stake in Po Vita to Credit Agricole for 105 mln eur, ending its bancassurance joint venture with the French bank's Italian unit Cariparma, Saturday's Il Sole 24 Ore said, without citing sources.