News - Insurance
Swiss Re, 9M2019: net income rose 23.2% y-o-y
For the first three quarters of 2019, Swiss Re net income reached USD 1.3 billion at group level, representing an increase of 23.2% from the same period of prior year, growth driven by reinsurance activity and a 4.3% return on investments.
STATISTICS: KAZAKHSTAN, 3Q2019: market paid claims up by almost 63% y-o-y
Kazakhstan's market GWP reached KZT 378.9 billion (+32.1% in local currency; ~ EUR 894.87 million) at the end of third quarter of 2019, National Bank's data show.
STATISTICS: CROATIAN insurers' 9 months business expanded to EUR 1.1 billion
GWP of the 18 active Croatian insurers increased by 7.54% y-o-y, to HRK 8.15 billion (EUR 1.10 billion) in 3Q 2019, the Croatian Insurance Bureau quarterly figures showed. The value of paid claims totaled HRK 4.25 billion, up by 6.02% compared to the prior year's level.
STATISTICS: ESTONIA: 9 months insurers' GWP rises EUR 10 million vs. 3Q2018
Estonian insurers posted aggregate GWP of EUR 366.6 million at the end of September 2019, up by EUR 10 million as compared with 3Q2018, according to quarterly market figures published by the Estonian National Statistics Board.
MAPFRE, 9M2019: 2.5% GWP increase drove by Latin America business expansion
MAPFRE ended the first nine months of 2019 with a net result of EUR 463 million, 12.5% lower than the net result of the same period of 2018. Most of this amount came from Iberia, Latin America and Reinsurance business areas.
MetLife, 3Q2019: net income increased by 2.4 times
MetLife reported a net income of USD 2.2 billion for the period between July - September 2019, 2.4 times more than the third quarter of 2018 (USD 880 million), reflecting an increase of 145% y-o-y.
WTW, 9M2019: net income went up by 8.2% y-o-y
Willis Towers Watson (WTW) ended the first nine months of 2019 with a net income of USD 522 million, 8.2% more that the net income of the same period of prior year.
UZBEKISTAN: paid claims of O`zbekinvest Hayot for 9 months increased by almost 71% y-o-y
From January to September 2019, the paid claims of O`zbekinvest Hayot exceeded UZS 84.4 billion (~EUR 8.13 million), which is 70.8% more than a year ago, according to UzReport.news.
CROATIA Osiguranje, 3Q2019: net profit down by 15.6% and steady underwriting performance
CROATIA Osiguranje Group's results after 3Q show a steady underwriting performance, but a declining profitability, with the consolidated net profit decreasing by 15.6% y-o-y, to EUR 37.8 million (HRK 280 million). Total GWP amounted to EUR 363.8 million (HRK 2693.4 million), 0.3% less y-o-y.
RUSSIA: Jan-Sept state support crop insurance grew 269% while livestock insurance increased 53%
For the first 9 months of 2019, agricultural insurance market volume saw a significant growth by 2.5-fold while the insured area increased by more than 5.3-fold, according to the National Association of Agriculture Insurers (NAAI).
UKRAINE: January-August total number of MTPL complaints about insurers' decreased by almost 20% y-o-y
For the first eight months of 2019, the total number of MTPL contracts increased by 3.5% y-o-y, exceeding 5.4 million units. MTPL GWP increased as well, by 11%, Forinsurer reports.
The 2019 edition of the Croatian Insurance Days to start in two weeks
From the difficulties raised by the present volatile economic environment to the challenges raised by the fast technological advancement and the changing customers' behavior, the insurance sector is definitely going through a time of major changes.
Everest Re, 9M2019: net income growth rate negatively impacted by third quarter hurricanes
Everest Re Group reported a net income of USD 792 million for the first nine months of 2019, up 7.4% year-on-year. However, the third quarter of 2019 net income was 47.4% smaller than previous year result, amounting USD 104 million, driven by hurricane related losses.
Aon, 9M2019: revenue increased 2%, to USD 8.1 billion
For the first nine months of 2019, Aon revenue increased by USD 128 million (1.6%) compared to the same period of prior year, amounting USD 8.1 billion at the end of September 2019, due primarily to organic revenue growth of 6%, partially offset by a 3% unfavorable impact from foreign currency translation and a 1% unfavorable impact related to divestitures, net of acquisitions.
MMC, 9M2019: revenue up 10.2% y-o-y
Marsh & McLennan Companies (MMC) consolidated revenues rose by 10% year-on-year at the end of first nine months of 2019. The total revenues were around USD 12.4 billion (9M2018: USD 11.2 billion).
QIC Group, 9M2019: USD 137 million net profit, up 5.4%
Qatar Insurance Group (QIC Group) reported a net profit of USD 137 million for the first nine months of 2019, up by 5.4% compared to same period of prior year. According to QIC Group, the Middle East North African (MENA) markets continued to produce stable premiums with underwriting profitability, weathering geopolitical headwinds in the region.
Aon appoints Lisa STEVENS as Chief People Officer
Aon plc announced the appointment of Lisa STEVENS as Chief People Officer, part of an ongoing series of actions to further strengthen alignment and accelerate momentum in bringing its Aon United growth strategy closer to clients around the world.
TAJIKISTAN: new insurer registered - Eskhata Sugurta
A new insurance company, Eskhata Sugurta, has been registered on the Tajik market, Avesta news agency reports, citing the press center of the National Bank of the country.
SCOR, 9M2019: Group net income rose 17.3% YTD
For the first nine months of 2019, SCOR Group secured a net income of EUR 401 million, 17.3 percent more compared to the same period of 2018. The return on equity (ROE) was 8.8%, exceeding the profitability target set in "Quantum Leap" business plan by 816 bps.
GREECE: 4 bidders for a new attempt to sell ETHNIKI
A new round of bids to sell Ethniki was initiated, this time with the deadline set to the end of Q1 2020, for 80% stake in the national company, valued at EUR 658 million, Insurance Daily reports.
31 October 2019