News - Re/Insurance groups
Sava Insurance Group YE 2022 net profit declined by over 10% to EUR 68.2 million
Slovenian Sava Insurance Group informed that it generated a net profit of EUR 68.2 million in 2022, exceeding the annual target by 13.7%, according to the Unaudited financial statements of the Sava Insurance Group for 2022. Compared with 2021 when the same indicator totaled EUR 76.16 million, the net profit declined by over 10%.
SCOR closed 2022 "in red" due to NatCat claims, war & macroeconomic tensions
French reinsurer SCOR posted gross written premiums of EUR 19.73 billion in 2022, up by 4.9% compared with 2021, while in terms of profitability, it reported a net loss of EUR -301 million, compared with EUR 456 million net income in 2021.
Triglav Group posted increasing business volume and profit in 2022
According to unaudited data, the Triglav Group generated a profit before tax of EUR 134.5 million in 2022, up by 1% over the previous year and above the planned.
S&P upgraded UNIQA's outlook from "negative" to "stable"
On 1 March 2023 the international ratings agency Standard & Poor's (S&P) upgraded the outlook for UNIQA Insurance Group AG, UNIQA Osterreich Versicherungen AG and UNIQA Re AG from "negative" to "stable". S&P also reconfirmed the "A" rating for UNIQA Osterreich Versicherungen AG and UNIQA Re AG, and the "A-" rating for UNIQA Insurance Group AG.
SCOR appointed new Group Head of Communications and Public Affairs
French reinsurer SCOR announced that Alexandre Garcia, previously Head of PR and Corporate Communications, is appointed Group Head of Communications and Public Affairs.
Gunter Geyer received the "Medal for Merit", I Class from the Czech President
The Chairman of the Supervisory Board of Vienna Insurance Group (VIG), Gunter Geyer, received the "Medal for Merit", I Class, from the President of the Czech Republic, Milos Zeman, on 2 March 2023. The ceremony at Prague Castle was also attended by the Austrian Federal President Alexander Van der Bellen.
Diana Murphy and Vanessa Wittman to Join AIG's Board of Directors
American International Group (AIG) informed that its Board of Directors has elected Diana Murphy and Vanessa Wittman as independent Directors of the company, effective March 16, 2023.
Swiss Re closes second alternative capital transaction with J.P. Morgan
Swiss Re has successfully closed a multi-year stop-loss transaction with funding led by J.P. Morgan. The deal provides Swiss Re with USD 700 million in underwriting protection, supporting the Group's pursuit of profitable growth.
VIG expects FY2022 net results in a range of EUR 460-470 million
The Austrian insurer Vienna Insurance Group informed that according to FY2022 preliminary figures it expects net results in a range of EUR 460-470 million, significantly above expectations. The result before taxes amounts to about EUR 560 million.
Croatia osiguranje's year-end profits increased to over EUR 50 million
Croatian conglomerate ADRIS Grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region), informed it recorded total revenues amounting to HRK 6.5 billion (EUR 862 million), 14% higher compared to the previous year.
UNIQA posts YE2022 EBT worth EUR 422 million
Austrian insurer UNIQA Insurance Group announced in the financial year 2022 it generated earnings before taxes of EUR 421.7 million, 10.3% more y-o-y, while the value of premiums written rose by 3.9% to EUR 6.60 billion.
AXA 2022 revenues grow by 4% to over EUR 100 billion
French insurance group AXA has reported a 2% increase in FY 2022 gross revenues to EUR 102.34 billion, while the group's overall net income decreased by 8% over 2022 to EUR 6.68 billion.
Changes in the Board of Directors of Generali Ceska pojistovna
The largest Czech insurer Generali Ceska pojistovna informed that on March 1, 2023, Marian Zelko, currently Customer Development and Marketing Department, will become a new BoD member and Sales Director for the Czech Republic.
UNIQA expects FY2022 EBT in range EUR 420-425 million, better than expected
Austrian insurance group UNIQA informed it expects to report significantly improved consolidated earnings before taxes for the financial year 2022 in the range of EUR 420 million to EUR 425 million, better than expected, as compared with EUR 382.3 million a year before.
David Knibbe to be reappointed as CEO of NN Group
The Supervisory Board of NN Group intends to reappoint David Knibbe as member of the Executive Board of NN Group and to designate him again as Chief Executive Officer (CEO) and chair of the Executive Board for a term of four years, as the Dutch group announced in a statement.
Allianz posted 5.7% operating profit growth for 2022
The German insurance group Allianz reported FY2022 total revenues worth EUR 152.7 billion, representing an increase of 2.8% y-o-y (12M 2021: EUR 148.5 billion), largely driven by the Property-Casualty business segment.
Swiss Re reports FY2022 net income of USD 472 million and targets more than USD 3 billion for 2023
Global reinsurer Swiss Re reported a net income of USD 472 million for 2022, with a net income of USD 757 million in the fourth quarter. For 2023, the reinsurer said it targets a net income of more than USD 3 billion, "supported by successful P&C Re renewals, an expected decline in COVID-19 claims, higher interest rates and cost discipline".
AGCS reported FY2022 double-digit increases in premiums and profits
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group reported FY 2022 GWP worth EUR 11.169 billion, up by EUR 1.683 billion or by 18% y-o-y from EUR 9.486 billion a year before.
Jan Willem Weidema to leave Aegon
Dutch insurer Aegon informed that Jan Willem Weidema, Head of Investor Relations, has decided to leave the company as per July 1, 2023. "Following Capital Markets Day on June 22, 2023, he will take an extended sabbatical to travel Europe with his family".
Zurich delivers highest profits since 2007
Zurich Insurance Group reported very strong profits for the full year 2022, with the highest business operating profit (BOP) since 2007.
8 March 2023