Prudential PLC to separate US unit via demerger; Achmea names chairman

Life and health

Prudential PLC plans to separate its U.S. business, Jackson Financial Inc., in the second quarter through a demerger, subject to shareholder and regulatory approval.

AIB Group PLC is in exclusive negotiations to form a life and pensions joint venture with Irish Life Group Ltd., with each side owning 50% of the business, The Irish Times reported, citing sources.

Multiline

Achmea BV named Jan van den Berg chairman of the supervisory board, effective April 13. Separately, the Dutch insurer expects the overall result for full-year 2020's health activities to be above the €150 million target, improving the financial buffers and solvency of its health insurance entities.

The board of Assicurazioni Generali SpA approved CEO Philippe Donnet's proposal for a new organizational structure, which will integrate group investment management and insurance domains.

Aviva PLC has set deadlines for final offers for its operations in France and Poland after securing indicative bids from industry heavyweights, Reuters reported.

RiverStone Europe is closing in on a possible reinsurance-to-close transaction to assume legacy liabilities for Lloyd's of London Syndicate 4000, Insurance Insider reported.

Property and casualty

MS Amlin Underwriting Ltd. appointed Vishal Desai as chief risk officer, effective in May, and Catherine Scullion as chief actuary, effective in April, Insurance Insider reported.

Prometheus Insurance Co. Ltd. was placed into administration Jan. 27 following an application to the Supreme Court of Gibraltar.

Markerstudy Group will receive a £200 million investment led by Pollen Street Capital Ltd., with QIC also participating in the transaction.

Funds advised by Apax Partners LLP agreed to acquire U.K.-based PIB Group Ltd. alongside its management team, subject to applicable regulatory approvals.

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