News - Re/Insurance groups
TUW PZUW is the mutual insurance market leader in Poland, with record results in 2019
TUW PZUW, the mutual insurer established by the PZU Group in 2016, ended 2019 with written premiums worth PLN 690 million while doubling its net profit and technical result as compared with 2018 and reaching a 31% market share on the mutual insurance market in Poland.
VIG Re, 1Q2020: Net earned premiums climbed 35.7% y-o-y
VIG Re, part of the Austrian Vienna Insurance Group, ended the first three months of 2020 with a net profit of EUR 2.4 million, -42.5% lower y-o-y, impacted, as most reinsurers, by the effects of COVID-19 crisis on the financial markets and a higher volume of claims.
Vienna Insurance Group, 1Q2020: GWP expanded 7.2% y-o-y
For the first quarter of 2020, Vienna Insurance Group (VIG) recorded a net profit (after non-controlling interests) of EUR 85.8 million, 2.8% higher y-o-y.
Sava Insurance Group, 1Q2020: Operating revenues went up 16.2%
For the first quarter of 2020, Sava Insurance Group generated operating revenues in amount of EUR 149.0 million (+16.2% year-on-year) and a net profit of EUR 10.3 million (-5.6% y-o-y).
Triglav Group, 1Q2020: Gross premiums written increased to EUR 349 million
Between January - March 2020, Triglav Group registered a net profit of EUR 22.4 million, 12% lower year-on-year due to major CAT events and a sharp decline on the international financial markets caused by COVID-19 pandemic.
GENERALI actions against COVID-19 in the ACEER Region
Italian insurer GENERALI announced that all its subsidiaries in ACEER Region (Austria, CEE & Russia Region) tooked part in different initiatives to help the clients and communities overcome the coronavirus crisis. Thus, GENERALI pubished an overview of actions being taken by its subsidiaries in the Austria, CEE & Russia Region. "It covers different initiatives which have been developed to assist our clients and communities".
Irene DORNER is appointed Chairwoman of AXA's Audit Committee
Following the death of Stefan LIPPE - AXA Director since 2012 and former Chief Executive Officer of the Swiss Re Group, Director of the Company and Chairman of the Audit Committee, AXA's Board of Directors, upon recommendation of its Compensation & Governance Committee, decided to designate Irene DORNER, director of the Company and member of the Audit Committee since April 2016, as Chairwoman of the Audit Committee. Irene DORNER should remain Chairwoman for approximately a year.
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.
Johann STROBL proposed as a new member of UNIQA's Supervisory Board
Johann STROBL, currently CEO of Raiffeisen Bank International AG (RBI), will be proposed to the UNIQA Insurance Group AG (UNIQA) Annual General Meeting on May 25, 2020 for election to the Supervisory Board.
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.
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.
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.
CHUBB appoints Annmarie HAGAN Chief Accounting Officer; Paul MEDINI to retire
CHUBB Limited announced last week that Annmarie HAGAN, Global Controller, has been appointed Vice President, Chubb Group and Chief Accounting Officer effective immediately. She succeeds Paul MEDINI, who is retiring from the company.
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.
Talanx, 1Q2020: In spite of substantial COVID-19 related losses, group net income reached EUR 223 million
For January - March 2020, Talanx Group registered a net income of EUR 223 million, 5% lower than the same period of prior year. The coronavirus crisis impacted both the Talanx Group's underwriting and its investments in the first quarter of the new financial year.
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.
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.
Munich Re, 1Q2020: COVID-19 losses slowed the profit growth
During the first quarter of 2020, Munich Re generated a profit of EUR 221 million, 65% lower year-on-year, decrease mostly driven by the pandemic effects on the markets and world-wide businesses.
ERGO, 1Q2020: GWP rose slightly to over EUR 5.0 billion
For January - March 2020, ERGO posted a profit of EUR 72 million (1Q2019: 85) for Munich Re. ERGO's operating result amounted to EUR 99 million (1Q2019: 138m).
21 May 2020