Aon, Beazley earnings; Moody's has negative outlook for Swiss life insurers

Life and health

Moody's said its outlook for Swiss life insurers in 2021 is negative as low interest rates are expected to adversely impact their growth prospects, earnings and capital adequacy.

Multiline

Apollo Syndicate Management Ltd. named Hayley Spink group COO.

Elliott Advisors (UK) Ltd. has called on Sampo Oyj to fully exit its Nordea Bank Abp stake by the fourth quarter, saying that doing so will create €8 billion of value for Sampo shareholders.

The Ardonagh Group Ltd.'s small and middle enterprise broking platform, Ardonagh Advisory Holdings Ltd., agreed to acquire Hera Indemnity Ltd., subject to regulatory approval.

Property and casualty

Aon PLC's fourth-quarter 2020 net income attributable to shareholders grew to $524 million, or $2.27 per share, from $374 million, or $1.58 per share, a year earlier.

Beazley PLC logged a full-year 2020 loss attributable to equity shareholders of $46.1 million, compared to a profit of $234.1 million a year ago.

Applied Underwriters Inc. agreed to acquire Concept Special Risks, a U.K.-based international managing general agent providing coverage for nautical vessels and operators.

Insurance services provider McLarens Inc. purchased 100% of the equity of Netherlands-based Vanderwal & Joosten for undisclosed terms.

Reinsurance

Hannover Re's group net income for 2020 came in at €883 million, based on preliminary figures, compared to €1.28 billion a year ago.

The U.K. government has launched a consultation on six proposed changes to Flood Re Ltd., the country's government-backed flood reinsurer.

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