News - Re/Insurance groups
Allianz Commercial confirmed its leaders for Australia, France, Germany and UK
Allianz Group announced the leadership for four of its largest Property and Casualty Commercial insurance markets: Australia, France, Germany and the United Kingdom.
MMC appoints Judith Hartmann and Ray Young to its BoD
The Board of Directors of Marsh McLennan (MMC) appointed Judith Hartmann and Ray Young as directors effective immediately. With these appointments, the Company's Board will consist of 15 directors.
Slovene Triglav Group intends to pay a dividend of EUR 2.50 gross per share
The Management Board and the Supervisory Board of Zavarovalnica Triglav will propose to this year's General Meeting of Shareholders to pay a dividend of EUR 2.50 gross per share, or EUR 56.8 million in total.
Lloyd's reports strong profitable growth in 2022 results
Lloyd's of London announced FY2022 Gross Written Premium (GWP) up by 19% to GBP 46.7 billion (FY2021: GBP 39.2 billion), including 4% volume growth.
Talanx Group generates record premiums and Group net income in 2022
German inurerance group Talanx posted YE 2022 gross premiums up by 17.4% y-o-y to EUR 53.4 billion, while the group net income increased to EUR 1.17 billion despite large losses, vs. EUR 1.01 billion a year before.
Groupama posted FY2022 premium income of EUR 15.9 billion, up by 4.3% y-o-y
French insurer Groupama reported YE2022 premium income of EUR 15.9 billion, up by 4.3% y-o-y with "strong growth in property and casualty insurance (+8.6% to EUR 8 billion), driven by the good performance of international subsidiaries (+20.4%), particularly in Romania". In Life and health, Groupama posted growth worth 0.8% y-o-y (to EUR 7.8 billion) both in France (+0.7%) and abroad (+1.1%).
Insured losses from natural catastrophes break through USD 100 billion threshold again in 2022
Natural disasters resulted in global economic losses totaled USD275billion in 2022, of which USD125billion were covered by insurance, according to Swiss Re.
MetLife names Bryan Boudreau new global Chief Actuary
MetLife announced that Bryan Boudreau has been named executive vice president and Global Chief Actuary, effective May 11, 2023. Boudreau succeeds Andy Rallis, who will retire effective May 10, 2023, after a 39-year career at MetLife - including 11 years as Global Chief Actuary.
Marsh names Sarah Stephens US Central Zone Leader
Marsh, one of the the world's leading insurance broker and risk advisor, announced that Sarah Stephens, current Head of Cyber for the UK and International, Marsh Specialty, will assume the role of US Central Zone Leader effective May 1, reporting to Pat Donnelly, President, US and Canada, Marsh.
Lloyd's reports strong FY 2022 underwriting performance
Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions, informed that according to preliminary results, its FY2022 GWP increased by over 19% to more than GBP 46 billion (FY 2021: GBP 39.2 billion) "reflecting a combination of growth from the strong USD (8%) direct price increases (8%) and organic growth (3%)".
Allianz to serve global commercial insurance segment as one go-to-market business
Allianz Group announced that it will serve the global commercial insurance segment as one go-to-market business under the trading name Allianz Commercial, featuring an integrated approach encompassing its Allianz Global Corporate & Specialty (AGCS) business serving large corporate clients and the insurance businesses of Allianz's operating entities serving mid-sized country-based accounts.
Swiss Re proposes dividend of USD 6.40 per share for the 2022 financial year
Global reinsurer Swiss Re proposes dividend of USD 6.40 per share for the financial year 2022, according to the published agenda for the upcoming Annual General Meeting of shareholders (AGM) on 12 April 2023. At the AGM, Swiss Re is also proposing to elect Vanessa Lau and Pia Tischhauser as new Board members for a one-year term, and the re-election of Sergio Ermotti as Chairman and a member of the Board of Directors for a one-year term of office until completion of the next AGM.
VIG Re posted all-time highs performance for 2022
In 2022, VIG Re's profit before taxes increased by 14.6% y-o-y to EUR 30.7 million, while the GWP was up by 19.7% y-o-y to EUR 792.3 million. Net combined ratio improved by 4.2 ppt to 91.9%, underwriting profit almost doubled to EUR 38.5 million (+ 90.4%), total assets amounted to EUR 1.47 billion (+ 0.4%), while Return on equity was 17.9%.
Lloyd's announces Bob James as new COO
Lloyd's of London announced a week ago a number of changes to its Executive Committee. Thus, Bob James has taken over COO responsibilities from CFO Burkhard Keese, effective 14 March 2023, while Deputy CFO Alex Cliff will join Lloyd's Executive Committee with immediate effect.
David Benedek new member of Save Re's management Board
On 21 March 2023, David Benedek was granted a license by the Insurance Supervision Agency to become a member of the management board of Sava Re. Appointed as a member of Sava Re's management board on 15 December 2022, David Benedek began his 5-year term of office on 22 March 2023.
Vienna Insurance Group reports significant premium and profit growth for 2022; cautiously optimistic expectations for 2023
With a premium volume of EUR 12.6 billion, Vienna Insurance Group (VIG) has exceeded the previous year's figure of EUR 11 billion by 14.1%. Profit before taxes amounts to EUR 562 million, which is 10% up y-o-y. Profit after taxes reaches EUR 466 million (+24 y-o-y). The combined ratio of 94.9% is within the target range.
Generali, FY2022: best ever operating result with continued growth in premiums and net result.
Italian Generali Group ended 2022 with GWP worth EUR 81.5 billion (+1.5%) and a record operating result of EUR 6.5 million (+11.2%), mainly driven by Life, together with P&C growth. The Combined Ratio was 93.2% (+2.4 p.p.), while the net result grew to EUR 2,912 million (+2.3%).
Philippe Donnet receives the Foreign Policy Association's Corporate Social Responsibility Award
In recognition of the Generali Group CEO's commitment to sustainability, the Foreign Policy Association has presented Generali Group CEO Philippe Donnet with the Corporate Social Responsibility Award at their 2023 Financial Services Dinner.
AXA completes the sale of shares in Banca Monte dei Paschi di Siena
French insurance group AXA S.A. announced the successful sale of 100,000,000 shares in Banca Monte dei Paschi di Siena S.p.A., representing ca.7.94% of the Italian Bank's share capital, at a price of EUR 2.33 per share (i.e. a total amount of 233 million euros) in an accelerated book built offering reserved to institutional investors.
Eurohold reports 2022 profit before tax of EUR 34.9 million
Bulgarian financial and energy holding Eurohold reported YE 2022 a nearly 77% growth in revenues compared to the previous year to over BGN 6.3 billion (EUR 3.2 billion) and a roughly 52% increase in EBITDA to approx. BGN 286 million (EUR 146 million), according to the holding's annual consolidated report. Net profit grew by 8.8% on the year to BGN 68.3 million (EUR 34.9 million).
6 April 2023