Austrian insurance group UNIQA reported January-September 2023 premium growth of 9.4% to EUR 5.5 billion and a significant increase in earnings before taxes to EUR 305 million. “Above all, property and casualty insurance and health insurance contributed to this very satisfactory growth”, as the Austrian insurer pointed out in a statement.
The Retail International division of the Talanx Group successfully closed its acquisition of the Liberty Seguros business with retail customers and small to mid-sized enterprises in Brazil on 22 November 2023, as the German insurer informed in a statement.
Generali in 3Q2023 achieved continued growth in operating and net result, as well as confirmed solid capital position with Solvency Ratio at 224%, the Group said in its recent press-release
For the fifth year in a row, Allianz has been named the world’s number one insurance brand in Interbrand’s 2023 Best Global Brands ranking, as the German insurer announced in a press release.
Austrian insurer UNIQA informed that, as the Supervisory Board decided at its meeting on 22 November, the Management Board team, which will continue to be identical for the listed UNIQA Insurance Group AG and its subsidiary UNIQA Osterreich Versicherungen AG, will comprise seven instead of nine members in future.
On November 21, 2023, Vienna Insurance Group (VIG) signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which are currently held by the Hungarian state holding company Corvinus. After completion of the transaction, VIG's share in the holding company will increase from 55 to 90%.
At the request of the Vienna Insurance Group (VIG), Gallup International examined risk competence in nine countries in Central and Eastern Europe (CEE). The representative study revealed clear deficits and widespread fallacies regarding financial security provided by state and social institutions.
Slovenian insurance group Sava reported 3Q2023 13.7% y-o-y increase in business volume to EUR 711.2 million, while the net profit increased slightly to EUR 36.5 million (3Q2022: EUR 35.0 million), “a similar level to that of the first nine months of last year, despite this year’s major claim events”.
Austrian insurance group UNIQA informed that the international rating agency Standard & Poor's (S&P) confirms UNIQA’s rating in its current report: the "A" ratings for UNIQA Osterreich Versicherungen AG and UNIQA Re AG and the "A-" rating for UNIQA Insurance Group AG, all with a stable outlook.
Austrian insurer VIG - Vienna Insurance Group informed is strengthening exchange between its Group companies with the newly created department “CO3” – communication, collaboration & cooperation. “The focus is on boosting cross-border know-how sharing as well as on intensifying cooperation between VIG companies located in the same country, thereby enhancing the local multi-brand strategy”.
German reinsurer Hannover Re informed it has generated a nine-month 2023 profit of EUR 1.4 billion and is thus confirming its Group net income target for the full year.
German insurance group Talanx informed it generated Group net income of EUR 1.28 billion in the first nine months of 2023 and has lifted its full-year earnings forecast to “significantly more than EUR 1.5 billion” on the basis of its strong operating performance.
ALLIANZ Group’s total business volume rose by 4.7% to EUR 122.1 billion in the first nine months (9M) of 2023, driven by the P&C business, supported by the L/H business, and partially offset by the development in its Asset Management business segment.
UNIQA Group announced two changes to the management team, starting November 2023: Cristina Anculescu, previously Member of the UNIQA Asigurari de Viata Board, was appointed Head of Talent & Development for the Group, while Remus LAPUSAN returns to the Board of Directors of UNIQA Asigurari de Viata.
Munich Re recorded a net result of EUR 1,169 million in Q3 2023, slightly above the EUR 1,102 million in Q3 2022, and EUR 3,593 million in 9M, which is 14% less y-o-y. As such, closing a third consecutive quarter with a net result surpassing the pro-rata guidance, Munich Re raised its annual guidance.
Zurich Insurance Group announced a strategic alliance with Kotak Mahindra Bank Limited, India’s third largest private sector bank by market capitalization, through the proposed acquisition of a 51% stake in Kotak Mahindra General Insurance Company Limited for USD 488 million, through a combination of fresh growth capital and share purchase (subject to regulatory approvals and customary closing adjustments).
Global commercial insurance prices increased 3% in the third quarter of 2023, the same as the prior quarter, according to the Global Insurance Market Index
released by the insurance brokerage company Marsh. Q3 2023 marks the 24th consecutive quarter of pricing increases.
American International Group announced that is has successfully completed the previously announced sale of Validus Re to RenaissanceRe. AIG received total consideration of USD 3.3 billion in cash, including a pre-closing dividend, and approximately USD 275 million in RenaissanceRe common shares.
In the first nine months of 2023, Adris grupa - grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region)- recorded EUR 815 million in total revenue, which is 15% higher compared to the same period last year.
Marsh McLennan (MMC) announced the appointment of Susan Potter as US and Canada Commercial Officer, effective immediately.