Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies are set to jump 26% globally this year with several European countries likely to be worst hit as the fallout from Covid-19 finally impacts bankruptcies, according to Atradius. This would follow a 14% fall in insolvencies last year when governments introduced fiscal measures and bankruptcies regime changes to protect businesses from failure, said the trade credit insurer. Atradius added…

Hungarian authorities block VIG’s acquisition of Aegon entities in Hungary

Hungarian authorities block VIG’s acquisition of Aegon entities in Hungary

Hungarian authorities block VIG’s acquisition of Aegon entities in Hungary

The sale of Aegon’s insurance, pension and asset management businesses in Hungary, Poland, Romania and Turkey to Vienna Insurance Group (VIG) has stalled after the Hungarian authorities blocked the acquisition. Aegon had agreed the sale to VIG for €830m. However, VIG said it had received a decree in which the Hungarian Ministry of the Interior announced that the intended acquisition…

Allianz to acquire Aviva Poland for €2.5bn

Allianz to acquire Aviva Poland for €2.5bn

Allianz to acquire Aviva Poland for €2.5bn

Allianz is to acquire Aviva Poland in a deal worth €2.5bn, making Allianz the fifth-largest insurer in Poland and consolidating its leading position in central and eastern Europe (CEE). The deal values the acquired business at €2.7bn. The agreement will see Allianz purchase the life and non-life insurance operations, as well as the pension and asset management business, from Aviva…

Allianz continues pan-European expansion plan with acquisition of Aviva Italia

Allianz continues pan-European expansion plan with acquisition of Aviva Italia

Allianz continues pan-European expansion plan with acquisition of Aviva Italia

German insurance group Allianz has signalled its intent to remain a serious player in the Italian insurance market through its €330m acquisition of UK insurer Aviva’s Italian non-life insurance operation, which adds an estimated 500 agents to its sales force in Italy. The Italian purchase was swiftly followed by a major acquisition in Poland, underlining Allianz’s intention to continue its…

Brokerslink grows network with two additions

Brokerslink grows network with two additions

Brokerslink grows network with two additions

Brokerslink has boosted its global network through two new additions, as Bosnia and Herzegovina broker Advantis Insurance joins along with B Riley Advisory Services Group, a risk and compliance specialist headquartered in the US. Advantis specialises in property and liability insurance, and also offers corporate governance advisory services. CEO of Advantis Sonja Topalović said joining Brokerslink will give the broker…

UNIBA expects German growth as insurance buyers explore options

UNIBA expects German growth as insurance buyers explore options

UNIBA expects German growth as insurance buyers explore options

UNIBA Partners, the Brussels-based global broker network, expects growth in Germany among in-house as well as independent brokers, as the current hard market and the many challenges brought by Covid-19 further underline the need for independent, trusted and expert risk management advice, plus the ability to handle multinational risks. The network was created in Germany back in 1987 to provide…

Austrian insurers continue CEE expansion despite Covid-19 profit drag

Austrian insurers continue CEE expansion despite Covid-19 profit drag

Austrian insurers continue CEE expansion despite Covid-19 profit drag

Leading Austrian insurers Vienna Insurance Group (VIG) and UNIQA both reported further strong growth in central and eastern Europe (CEE) driven by recent major acquisitions, despite the negative impact of Covid-19 and lockdowns in Austria and across the CEE region during 2020. VIG, which acquired the CEE business of Dutch Insurance Group Aegon in November for €830m, adding an estimated…

Global political risk outlook ‘bleak’ as pandemic fallout drives instability, finds Verisk index

Global political risk outlook ‘bleak’ as pandemic fallout drives instability, finds Verisk index

Global political risk outlook ‘bleak’ as pandemic fallout drives instability, finds Verisk index

Some 88 of 130 countries are likely to see a spike in political risk by 2023, with the global outlook “bleak” for the next two years, finds Verisk Maplecroft’s annual sector outlook. Driven by the economic fallout from Covid-19, Verisk says the pandemic’s impact on political instability will be “2020’s sting in the tail” and the crisis’s “final act”. Some…

US-China tensions should top corporate risk radars in 2021, warns Verisk Maplecroft

US-China tensions should top corporate risk radars in 2021, warns Verisk Maplecroft

US-China tensions should top corporate risk radars in 2021, warns Verisk Maplecroft

High geopolitical tensions are at risk of using corporates as collateral, warns a new report from intelligence firm Verisk Maplecroft, which says rising troubles between the US and China should be at the top of corporate risk radars. The  Political Risk Outlook 2021 report says political rivals could use sanctions and export controls that will impact business because the corporate…

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

Cyber incidents have retained their position as the number one risk facing businesses in Europe during 2021, with business interruption (BI) in second place and pandemic outbreak third, finds a poll of risk experts and business leaders by Allianz Global Corporate & Specialty (AGCS). BI’s position is unchanged from last year, while pandemics are a new entry in the top…

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