News - Re/Insurance groups

PartnerRe, 1Q2020: Net premiums earned increased 13% y-o-y

For the first three months of 2020, PartnerRe reported a net loss attributable to common shareholder of USD 433 million. This compared to a net income available to common shareholder of USD 497 million in the first quarter of 2019.

Zurich, 1Q2020: P&C business grew 7% while Life insurance shrunk 10%

Since the onset of the health emergency, Zurich has delivered on its commitment to customers. The Group is providing additional financial relief through premium rebates, payment holidays and extensions of coverage. Customer interactions have been simplified by creating or expanding options to report claims by video, sign documents electronically or request remote risk assessments. The Group's additional measures to support customers and its commitments to communities totaled more than USD 90 million in the first quarter.

CROATIA: GENERALI completed the acquisition of IZVOR osiguranje business

GENERALI CEE Holding announced it officially expanded on Croatian insurance market finalising the acquiring of the business of local non-life insurer IZVOR osiguranje. Thus, "all rights and obligations under the insurance contracts of IZVOR osiguranje were transferred to GENERALI osiguranje as the new insurer".

CROATIA's osiguranje Q1 profits expanded by 28% y-o-y

In the first quarter of 2020, Croatia osiguranje recorded consolidated net profit amounting to HRK 119 million (~EUR 15 million), which represents a 28% growth y-o-y, as announced in a statement ADRIS Grupa - the CROATIA's osiguranje shareholder with businesses in tourism, real estate, tobacco and food industry.

MetLife, 1Q2020: Net income went up to EUR 4.4 billion

Net income was USD 4.4 billion, compared to net income of USD 1.3 billion in the first quarter of 2019. On a per share basis, net income was USD 4.75, compared to net income of USD 1.40 in the prior-year period.

Aegon, 1Q2020: Net income reached EUR 1.3 billion

Aegon ended the first three months of 2020 with a net income of EUR 1,270 million, reflecting fair value gains of EUR 1,372 million, driven by a reduction in the valuation of the liabilities in the Netherlands, reflecting wider credit spreads.

Allianz, 1Q2020: Net income affected by COVID-19-related market impacts

Net income attributable to shareholders decreased 28.9% to EUR 1.4 billion (1Q2019: 2.0) mostly driven by the lower operating profit. Operating profit declined 22.2% to EUR 2.3 billion (1Q2019: 3.0). The non-operating result also worsened as realized gains from the sale of Allianz Popular were more than offset by COVID-19-related market impacts. A lower tax rate had a partly offsetting effect.

Everest Re, 1Q2020: net income reached EUR 17 million

For the first three months of 2020, Everest Re Group reported a net income of USD 16.6 million, much lower, but positive, compared to the net income of USD 354.6 million for the same period of 2019. After-tax operating income for the quarter was USD 164.4 million, compared to after-tax operating income of USD 282.4 million for the same period in 2019.

Sampo, 1Q2020: Profit of the period reached EUR 139 million

Sampo Group ended January - March 2020 period with a profit before taxes of EUR 162 million, 66% lower than the same period of previous year, visibly affected by the effects of the ongoing global pandemic. The profit for the period decreased by 65% year-on-year to EUR 139 million.

AXA, 1Q2020: Consolidated gross revenues reached EUR 31.7 billion

For the first three months of 2020, AXA Group announced a 4% growth in revenues to EUR 31.7 billion. At group level, growth was seen in all business lines: Property & Casualty (+3%), Commercial lines (+5%), Health (+8%), Life & Savings (+4%), and Asset Management (+11%).

Hannover Re, 1Q2020: Net income grew 2.5% exceeding EUR 300 million

For the first quarter of 2020, Hannover Re posted a net income attributable to the group of EUR 301 million, 2.5% higher than the same period of prior year. According to the reinsurer, the key drivers were double-digit increases in earnings from life and health reinsurance as well as from the investment portfolio.

MAPFRE, 1Q2020: Financial flexibility and high liquidity levels have become a hallmark of resilience

For the first quarter of 2020, MAPFRE's net earnings were EUR 127 million, 32% lower than in the same period of the previous year. The result was dragged down by the earthquake suffered by Puerto Rico at the beginning of the fiscal year (EUR 54 million), and the effects of Storm Gloria in Spain (EUR 14 million). Emerging-country currencies have also had a negative impact, cutting more than EUR 6 million from the net result.

ADRIS Grupa: It would be justified to refrain from paying out dividend

CROATIA's osiguranje shareholder - the Rovinj based consortium ADRIS Grupa - with businesses in tourism, real estate, tobacco and food industry announced that due the severity of economic circumstances in Croatia and the world, caused by the coronavirus epidemic, the company will focus on maintaining liquidity and cutting costs.