News - Re/Insurance groups
Premiums written in P&C insurance grew by 15.4 % to EUR 1,053.9 million in the first three months of 2021
UNIQA Insurance Group AG (UNIQA) delivered a strong performance at the start of 2021 and showed growth of the underwriting result to EUR 62.5 million and investment income to EUR 150.1 million. Also, the total GWP by the UNIQA Group, including the savings portion of unit- and index-linked life insurance, increased by 13.0 %.
VIG: GWP 0.4% down and a strong resilience for the first quarter of 2021
For the first quarter 2021, Vienna Insurance Group (VIG) reported an increase of profit (before taxes) by 5% to EUR 128 million compared to the same period of the previous year. The total premium volume reached EUR 3.11 billion and the Romania, Czech Republic and Poland segments recorded the highest absolute premium increase.
Triglav Group: good Q1 results support the group's annual profit guidance
Triglav Group posted a total of EUR 371.7 million in consolidated GWP, up by 7% y-o-y, and achieved premium growth in most markets. Profit before tax in Q1 amounted to EUR 31.8 million, up by 21% y-o-y and 6% higher than in Q1 2019.
GC appoints new head of risk and capital life solutions
Reinsurance broker Guy Carpenter part of MMC - Marsh McLennan, announced the appointment of Luca Tres as Head of Strategic Risk and Capital Life Solutions, EMEA, effective June 1, 2021.
Sascha Bruns has been appointed Head of Global Retrocession at Peak Re
Peak Reinsurance Company Limited (Peak Re), the Hong Kong-based global reinsurer, announced that Sascha Bruns has been appointed Director, Head of Global Retrocession. Mr. Bruns will lead the design and implementation of the company's retrocession strategy for global Property & Casualty business.
Aegon posted Q1 net profit of EUR 386 million
Dutch insurer AEGON announced its Q1 20201 operating result increased by 20% compared with the first quarter of 2020 to EUR 431 million.
Laurent Rousseau will be the new CEO of SCOR and will succeed Denis Kessler
Staring with June 2021, SCOR will have a new Chief Executive Officer (CEO) after Denis Kessler's announcement to relinquish, for personal reasons, his duties as CEO. The Board changed the succession plan and named Laurent Rousseau to replaced Kessler, who will remain as Chairman of the Board of Directors.
VIG Re delivers technical profitability in 2020 despite significant large losses
In 2020, the reinsurer part of Austrian Vienna Insurance Group - VIG Re, posted gross written premiums of EUR 579 million, up by 10%. "Premiums growth is driven by continued franchise development in all regions, particularly business underwritten by the branches in Frankfurt a. M., Germany and Paris, France", as the reinsurer mentioned in a statement.
Life insurers can filter insights from medical notes in lengthy, consumer-authorized, EHRs
SCOR supports Verisk with a new life solution: EHR Triage Engine Plus, which leverages natural language processing and artificial intelligence to distill critical insights from medical notes in lengthy, consumer-authorized, electronic health records (EHRs).
P&C gross written premiums up with 14% in USD terms and a strong start to the year for Zurich
Zurich first quarter update presented a strong start to the year with a growth of 9% on a like-for-like basis driven by strong growth in commercial insurance and further improvement in pricing. Also, Zurich continued to focus on customers, with approximately 300,000 net new retail customers added in 1Q2021.
KBC Group, 1Q2021: Net profit of 557 million euros; non-life insurance technical income up by 31% y-o-y
Belgian KBC Group announced a EUR 557 million net profit in Q1 2021, a very good result considering "the bulk of bank taxes for the full year are recorded - as always - upfront in the first quarter of the year", as Johan THIJS, CEO, explained in a press release.
Assicurazioni GENERALI's shareholders will receive dividends of EUR 1.47 per share
The Shareholders' Meeting of Assicurazioni Generali approved the distribution of a dividend per share of EUR 1.47, split into two tranches of EUR 1.01 and EUR 0.46, respectively. The two tranches correspond to the regular pay-outs for 2020 and second half of 2019.
ALLIANZ, 1Q2021: operating profit up 44.8%, to EUR 3.3 billion
Total revenues of ALLIANZ Group declined by 2.6% to EUR 41.4 billion and were flat y-o-y, adjusted for currency and consolidation effects, while the operating profit increased by 44.8% to EUR 3.3 billion, with all business segments contributing. 2021 operating profit target confirmed at EUR 12.0 billion, +/- EUR 1 billion.
Talanx expects YE2021 net income at upper end of the EUR 800-900 million range
Insurer TALANX announced it starts the current year with strong results: GWP was up by 9.4% to EUR 13.6 billion, combined ratio for P&C primary insurance and reinsurance improves to 96.1% vs. (99.8%) percent, operating profit increased by 11.8% to EUR 625 million, while the net income climbed by 24.5% to EUR 277 million.
Renault Deputy CEO and CFO appointed as member of AXA's BoD
French insurance group AXA announced its BoD decided to appointed Clotilde Delbos as member of AXA's Board of Directors to replace Irene Dorner.
AGCS appointed new Global Head of Property
Allianz Global Corporate & Specialty (AGCS) - the corporate insurance carrier of ALLIANZ Group - announced that Maria Grace was appointed as Global Head of Property succeeding Thierry Portevin who leads AGCS's global risk consulting team since March.
CROATIA osiguranje end-March net profit increased to EUR 15.5 million
CROATIA osiguranje d.d., one of the largest insurance company in Adriatic region, reported unaudited Q1 2021 gross profit of HRK 140.6 million (EUR 18.57 million) vs HRK 120.4 million a year before while its net profit increased from HRK 98.3 million in March 2020 to HRK 117.3 million (EUR 15.5 million) representing an increase of 19.4 % y-o-y.
Munich Re's Q1 results visibly improved y-o-y; year-end consolidated profit target at EUR 2.8 billion
Munich Re generated a profit of EUR 589 million in Q1 2021, vs. EUR 221 million the year before. With significantly improved operating results, particularly owing to the lower COVID-19 losses burden, especially in P&C reinsurance, the German group maintains its consolidated profit target at EUR 2.8 billion for 2021.
Aviva's exit from Turkey completed; Belgian Ageas becomes one of the top players both in the life and non-life Turkish markets
Aviva announced it has completed the sale of its 40% shareholding in the Turkish life insurance and pensions joint venture, Aviva SA Emeklilik ve Hayat AS to the Belgian Ageas Insurance International NV which, through this acquisition expand its presence on the Turkish market toward the life insurance segment.
Berkshire Hathaway published the first quarter earnings 2021
Berkshire Hathaway published the 1T2021 results which include gains of approximately USD 2.8 billion in the first quarter of 2021 and losses of approximately USD 54.5 billion in the first quarter of 2020 due to changes during the first quarters of 2021 and 2020 in the amount of unrealized gains that existed in the equity security investment holdings.
20 May 2021