In 1Q2020, Romanian insurers reported gross paid indemnities (excluding maturities and partial and total redemptions), cumulated for life and non-life insurance, to the amount of EUR 371 million, up 14.17% y-o-y. Excluding maturities and partial and total redemptions, the amount was of EUR 327.4 million.
For the first six months of 2020, Zurich Insurance Group (Zurich) reported a net income of USD 1,181 million, 42% lower year-on-year.
Aegon Group ended the first half of 2020 with a net income of EUR 202 million, 67% smaller when compared to the same period of 2019.
According to the six months 2020 market statistics published by Albanian Financial Supervisory Authority (AFSA), the gross written premiums of Albanian insurers amounted to over ALL 7.54 billion (~EUR 60.67 million*), or 6.66% less compared to January-June 2019.
Azerbaijani insurance sector ended the first half of 2020 with GWP worth of AZN 400.96 million (~EUR 209.87 million*), which is almost 11% more y-o-y, according to the latest data published by the Financial Markets Supervision Chamber of Azerbaijan (FIMSA).
Armenian insurers ended 1H2020 with a 7.89% decline in GWP year-on-year. Total GWP amount was around AMD 24.28 billion (~EUR 44. 92 million*). Paid claims saw a decrease as well, going down by 4.74% y-o-y to AMD 11.3 billion, according to the results of insurance companies provided by ArmInfo.
CHUBB Limited announced the appointment of Paul KRUMP, currently Executive Vice President, CHUBB Group and President, North America Commercial and Personal Insurance, to Vice Chairman, Global Underwriting and Claims.
C-Quadrat Investment and the Polish insurance companies of Vienna Insurance Group have founded "VIG C-Quadrat", a joint venture located in Warsaw.
Based on the ESMA recommendation of May 2020 and the macroeconomic developments influenced by COVID-19, VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe executed an event-related impairment test at Group level.
The CEE insurance market saw a rather stable Q1. Despite the beginning of the Coronavirus crisis, that impacted most markets starting the second half of March, GWP in the region remained at a stable level y-o-y, of EUR 9.95 billion (0.26% up y-o-y).
Global economic losses from natural catastrophes and man-made disasters in the first half of 2020 were USD 75 billion, according to Swiss Re Institute's preliminary sigma estimates. That was up from the USD 57 billion for the same period a year earlier, but well below the average of first-half economic losses of the previous 10 years (USD 112 billion).
In 1H2020, insurance companies of Kazakhstan generated a total profit (before corporate income tax) worth KZT 70.7 billion (~EUR 0.16 billion*), which is 67.9% more y-o-y, Allinsurance.kz reports according to ranking.kz
In 1H2020, the Bank of Russia received only 15 thousand complaints against insurance companies, which is 34.7% less y-o-y. At the same time, the number of MTPL complaints amounted to 12 thousand of the total (-35.2%), the Bank said on its website.
AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of 'bbb' of INGOSSTRAKH company, outlook stable, according the information published by the rating agency.
For the second quarter of 2020, from April to June, MetLife announced a net income of USD 68 million, down 96% year-on-year (2Q2019: USD 1.7 billion). On a per share basis, net income was USD 0.07, compared to net income of USD 1.77 in the prior-year period.
For the first six months of 2020, Sampo Group recorded a profit before taxes of EUR 569 million, 42% lower than the same period of 2019. For the second quarter alone, Sampo Group's profit before taxes was EUR 407 million (-20%).
For the second quarter of 2020, for three months ended June 30, Everest Re Group ("Everest") reported a net income of USD 190.9 million, 42.7% lower when compared to the same period of prior year. For six months ended, from January to June 2020, the group's net income was USD 207.5 million (-69.8%).
At the end of the first half of 2020, AXA Group registered total gross revenues in amount of EUR 52.4 billion, down 2% (at constant Forex) compared to 1H2019, reflecting a 4% growth during the first quarter of 2020 and a 10% decline in the second quarter in the context of Covid-19 pandemic.
NN Group ended the first six months of 2020 with an operating result of EUR 926 million, 1.3% higher y-o-y. First half of 2019 benefited from EUR 67 million of private equity dividends, while the current half-year included EUR 16 million of private equity dividends and non-recurring benefits.
Between January-June 2020, Aviva secured a consolidated operating profit of GBP 1,225 million, 12% lower year-on-year (after converting to pound sterling). Basic earnings per share fell to 20.0 pence (1H2019: 28.2 pence).