Austrian insurer UNIQA announced changes in its Vaduz-based Management. Thus, Carsten ABRAHAM was appointed as CEO of UNIQA Versicherung Aktiengesellschaft, Vaduz in addition of current CFO responsibilities, after Ismar Daniel KUHNEISEN decided to exit UNIQA Group.
Fitch Ratings has taken rating actions on Italian insurance group Assicurazioni Generali SpA (GENERALI) and removed them from Under Criteria Observation (UCO), where GENERALI was placed on 15 January 2019.
Swiss Re Corporate Solutions announced a new Head for Accident & Health North America and a new Head for Financial & Professional Services and Casualty Canada, both effective from June 2019. The newly announced Heads will be Katie MCGRATH and Tyler JOHNSTON.
Italian insurer GENERALI has entered into an agreement with Reinsurance Group of America (RGA) for the sale of the life run-off portfolio of its UK branch.
Global re/insurance broker AON announced changes within its Global Reinsurance Clients team, which launched in 2014 and forms part of its Reinsurance Solutions operation.
Bulgaria-based EUROINS, part of EUROHOLD, reported a consolidated revenue of EUR 171 million (+41% y-o-y) for the first three months of 2019. For the same period, EUROINS showed an increase of 37% in gross written premiums (GWP) volume, growth sustained mainly by Romanian and Bulgarian business.
First quarter results of 2019 improved for NN Group. The net result increased by 28.4%, while the gross premium income reached EUR 4.9 billion, showing an increase of 9.0% compared to the same period of 2018.
Talanx Group began the year with a strong GWP growth of 11%, reaching EUR 11.7 billion. Net income was up by 8%, while the combined ratio slightly improve to 96.8%, compared to 1Q2018. Talanx Group expects a net income of EUR 900 million by the end of 2019.
In the first quarter of 2019, Vienna Insurance Group (VIG) saw an increase of 2.9% in GWP, compared to the first quarter of 2018. Profit before taxes also increased by 8.7%, while the net result increased by 10.5%.
Slovenia-based Triglav Group registered a profit of EUR 26 million in the first quarter of 2019. Investments played the biggest role for the 9% increase in Group's profit. Triglav's activity outside Slovenia slightly increased compared to 2018 Q1.
UNIQA Insurance Group made a positive start to 2019, with earnings before taxes of EUR 42.3 million in the first quarter. Total premiums written by the UNIQA Group (including the savings from life insurance) decreased though, by 0.4 per cent, to EUR 1,530.0 million.
In the first quarter of 2019, Munich Re generated a profit of EUR 633 million. Higher basic losses and greater expenditure for claims from previous years prevented a repeat of the extraordinary result in the same quarter last year, which was practically free of major losses.
The umbrella brand Sava Re Group will be replaced in all corporate documents by Zavarovalna skupina Sava in Slovenian and Sava Insurance Group in English, starting with the 1Q financial report for 2019, the Group has announced.
The Sava Insurance Group delivered a net profit of EUR 10.9 million in 1Q2019, accounting for 25.4% of the 2019 planned profit. The annualized RoE was 12.2%. A benign claims development and improved cost efficiency were the main drivers of the profit increase.
The GENERALI Group ended Q1 with a net profit of EUR 744 million, up 28.1% y-o-y, reflecting in part the result from disposals. The adjusted net profit increased to EUR 616 million (+6%) in line with the targets of the Group's new strategic plan.
For the first three months of 2019, Allianz Group reported a solid growth compared to first quarter of prior year. Total revenues at group level grew by 9.1%, the operating profit increased as well, by 7.5%, while the net income stood above EUR 2 billion.
In the first quarter of 2019, PZU broke its own record at the start of the year, generating higher GWP volumes and higher net result, compared to the same period of 2018. Company's officials said it was the merit of the newly introduced strategy, for 2017-2020 period.