News - Re/Insurance groups
Munich Re, 3Q2019: consolidated result increased 79.1%
Munich Re generated a profit of EUR 865 million (3Q2018: EUR 483 million) in the third quarter of 2019, 79.1% higher than the result of the same period of prior year.
AXA, 9M2019: 5% increase in revenues
At the end of September 2019, for the first nine months of current year, AXA Group's total revenues went up by 5%, amounting EUR 79.7 billion. Most of this amount came from French and European markets.
Allianz, 9M2019: operating profit grew 4.2%
For the first nine months of 2019, Allianz Group's operating profit grew by 4.2% to EUR 9.1 billion (9M2018: EUR 8.7 billion), mostly due to a one-off profit from Life/Health business in the United States.
Generali, 9M2019: group's net profit up 16.6%, exceeding EUR 2.1 billion
Generali Group net profit for the first nine months of 2019 was EUR 2,163 million, 16.6% higher than the net profit of the same period of prior year.
Kris JABLONSKI appointed as Board Member and CXO of Crawford Polska
Crawford Polska has appointed Krzysztof (Kris) JABLONSKI as a Board Member and local CXO, effective of Nov 4th, 2019.
Fairfax, 9M2019: consolidated earnings went up 56.1%
Fairfax Financial Holdings announced net earnings of USD 68.6 million in the third quarter of 2019, 34.4% less compared to the third quarter of 2018, primarily reflecting net losses on investments, partially offset by higher operating income. However, the nine months earnings reached USD 1,332 million, which reflects a 56.1% increase year-on-year.
Swiss Re, 9M2019: net income rose 23.2% y-o-y
For the first three quarters of 2019, Swiss Re net income reached USD 1.3 billion at group level, representing an increase of 23.2% from the same period of prior year, growth driven by reinsurance activity and a 4.3% return on investments.
WTW, 9M2019: net income went up by 8.2% y-o-y
Willis Towers Watson (WTW) ended the first nine months of 2019 with a net income of USD 522 million, 8.2% more that the net income of the same period of prior year.
MetLife, 3Q2019: net income increased by 2.4 times
MetLife reported a net income of USD 2.2 billion for the period between July - September 2019, 2.4 times more than the third quarter of 2018 (USD 880 million), reflecting an increase of 145% y-o-y.
MAPFRE, 9M2019: 2.5% GWP increase drove by Latin America business expansion
MAPFRE ended the first nine months of 2019 with a net result of EUR 463 million, 12.5% lower than the net result of the same period of 2018. Most of this amount came from Iberia, Latin America and Reinsurance business areas.
Aon, 9M2019: revenue increased 2%, to USD 8.1 billion
For the first nine months of 2019, Aon revenue increased by USD 128 million (1.6%) compared to the same period of prior year, amounting USD 8.1 billion at the end of September 2019, due primarily to organic revenue growth of 6%, partially offset by a 3% unfavorable impact from foreign currency translation and a 1% unfavorable impact related to divestitures, net of acquisitions.
Everest Re, 9M2019: net income growth rate negatively impacted by third quarter hurricanes
Everest Re Group reported a net income of USD 792 million for the first nine months of 2019, up 7.4% year-on-year. However, the third quarter of 2019 net income was 47.4% smaller than previous year result, amounting USD 104 million, driven by hurricane related losses.
Aon appoints Lisa STEVENS as Chief People Officer
Aon plc announced the appointment of Lisa STEVENS as Chief People Officer, part of an ongoing series of actions to further strengthen alignment and accelerate momentum in bringing its Aon United growth strategy closer to clients around the world.
QIC Group, 9M2019: USD 137 million net profit, up 5.4%
Qatar Insurance Group (QIC Group) reported a net profit of USD 137 million for the first nine months of 2019, up by 5.4% compared to same period of prior year. According to QIC Group, the Middle East North African (MENA) markets continued to produce stable premiums with underwriting profitability, weathering geopolitical headwinds in the region.
MMC, 9M2019: revenue up 10.2% y-o-y
Marsh & McLennan Companies (MMC) consolidated revenues rose by 10% year-on-year at the end of first nine months of 2019. The total revenues were around USD 12.4 billion (9M2018: USD 11.2 billion).
Munich Re US Operations appoints Head of Diversity & Inclusion
Munich Reinsurance America, Inc. has appointed Juan HERRERA as its first full-time Head of Diversity & Inclusion. HERRERA reports to Brian VISCUSI, U.S. Regional Head of Human Resources, and is based in Princeton, New Jersey.
Swiss Re COO to be transferred to Latin America as President of Reinsurance
Swiss Re's current Reinsurance Chief Operating Officer (COO), Kaspar MUELLER, will join Latin America business in his new role as President, effective November 1st, 2019, ReinsuranceNe.ws reports.
Michelle SIPPLE joins Everest Insurance as Vice President and Head of Inland Marine
Everest Insurance, part of Everest Re Group, announced that Michelle SIPPLE has joined the organization as Vice President and Head of Inland Marine. She will be based in Liberty Corner, New Jersey.
Michael MORAN appointed as Executive Vice President of Delivering Aon United program
Aon plc appointed Michael MORAN as Executive Vice President of Delivering Aon United, accelerating its efforts to drive better outcomes for clients with the appointment of the senior executive.
SCOR, 9M2019: Group net income rose 17.3% YTD
For the first nine months of 2019, SCOR Group secured a net income of EUR 401 million, 17.3 percent more compared to the same period of 2018. The return on equity (ROE) was 8.8%, exceeding the profitability target set in "Quantum Leap" business plan by 816 bps.
12 November 2019