News - Re/Insurance groups
Vienna Insurance Group (VIG) - Best Recruiter in the Austrian insurance market
After receiving silver in the previous three years, VIG as the leading insurance company in Austria and the CEE, reached the top of the insurance industries for the first time in this year's BEST RECRUITERS study. In the study's cross-sector rating of 412 Austrian companies, VIG received the excellent 24th place.
SAVA Re's Strategic Plan for 2017-2019 relies on digitalization and a higher contribution of the non-Slovenian subsidiaries
SAVA Re is aiming at higher organic growth outside Slovenia expecting to see, by the end of 2019, its non-Slovenian business holding a significantly higher share in the premium income, foresees the group's strategic plan for the following two years.
Slovenia's TRIGLAV Group 3Q2017 net profit down by 2.4% y-o-y
The Slovenian TRIGLAV Group ended the first nine months of this year with a net profit of EUR 52.3 million, down by 2.4% compared to January-September 2016 (EUR 53.6 million), while the profit before tax totaled EUR 64.5 million (vs. EUR 67.5 million).
EIG to buy 49% stake in Russian insurer RSO EUROINS
The Bulgarian financial holding EUROHOLD announced its insurance arm - EUROINS Insurance Group (EIG) will acquire a 49% stake in Russian non-life insurer RSO EUROINS. "The deal has been signed on November 16, 2017 and is expected to be finalised after obtaining regulatory approvals".
Slovenian SAVA Re's 3Q2017 net profit down by 7.5% y-o-y
Slovenian re/insurer SAVA Re said its consolidated 3Q2017 net profit decreased by 7.5% y-o-y to EUR 20.9 million euro. At the same time, the aggregate GWP was EUR 409.2 million, up by 4.8% y-o-y, while gross claims paid amounted to EUR 218.6 million, up from EUR 195.3 million a year before.
NN Group reports 3Q17 results
"We are pleased to report another strong set of results for NN Group for
the third quarter of 2017. This is the second quarter in which the
results of Delta Lloyd have been included in our company's overall
performance, after the acquisition of the company in April this year.
Apart from the Non-life business, all our businesses performed well.
Japan Life and Insurance Europe in particular reported a healthy
increase in earnings and continue to achieve strong growth in sales", said Lard Friese, CEO.
KBC Group: strong result of 691 million euros in the third quarter
Against the background of sustained economic expansion, only moderately
rising inflation, a stronger euro and stable low interest rates, KBC
turned in a strong performance in the third quarter of 2017, posting a
net profit of 691 million euros.
AXA simplified its structure to 5 geographies and formed a new Management Committee
French insurer AXA said it simplifies its operating model to 5 key geographies and a refocused Corporate Center. At the same time, AXA announced its new Management Committee as of December 1st, 2017 and made two new senior appointments.
UNIQA: Impressive growth of the international business while the Austrian portfolio moved up only slightly
Austrian UNIQA reported a 6.1% increase in its 3Q2017 business, to EUR 4.04 billion "due to solid growth in all segments". GWP outside the home country went up by 19.7% to EUR 1.21 billion, while the Austrian portfolio only moved up slightly to EUR 2.73 billion.
PZU, 3Q2017: Improved profitability despite the financial cost of the nat cat events of the summer
CEE's biggest insurer, the Polish PZU SA announced a net profit increase of 8% y-o-y in the third quarter as the consolidation of recently-bought Pekao SA offset the financial cost of violent storms that hit Poland last summer.
AON completes sale of businesses in six sub-Saharan African countries
Insurance brokerage company AON has sold its entire share of its employee benefit, insurance and reinsurance brokerage operations in Kenya, Lesotho, Malawi, Namibia, Uganda and Zambia to alternative asset manager CAPITALWORKS.
ACHMEA to sell its Irish life insurer to AVIVA
The Dutch financial group ACHMEA announced it has agreed to the sale of its Irish life assurance company, FRIENDS FIRST to AVIVA Group for a cash consideration of EUR 130 million.
Standard & Poor's rates Zavarovalnica SAVA 'A-' with a Positive Outlook
Standard & Poor's rated Zavarovalnica SAVA 'A-' with a Positive Outlook, the Slovenian re/insurance group SAVA Re announced in a press release posted on Ljubljana Stock Exchange's website.
The third largest Slovenian insurer is for sale
Slovenian financial holding KD Group announced, in a statement posted on Ljubljana Stock Exchange's website, that its management board reviewed the group's strategic guidelines, choosing LAZARD as a financial consultant to find a strategic investor for a majority stake in its fully owned insurer ADRIATIC SLOVENICA.
VIG to merge Wiener Staedtische and s Versicherung in Austria
Vienna Insurance Group announced it will merge its two Austrian subsidiaries Wiener Staedtische and Sparkassen Versicherung (s Versicherung). The merger is expected to become effective in 2018 and it is subject to approval by the boards of the Group companies and the authorities.
Net income of EUR 444 million for TALANX in the first 9 months, despite severe impact of natural catastrophes
TALANX Group achieved a nine-month net income of EUR 444 (636) million, despite the exceptionally high burden resulting from natural catastrophes, the company announced.
Achmea allocates EUR 130 million to limit increase in healthcare premiums
Achmea limits the increase in basic healthcare premiums for next year by allocating around EUR 130 million from reserves, charged against the 2017 result.
Aegon reports strong increase in earnings and capital ratio in 3Q 2017
"Our underlying earnings are up for the fifth consecutive quarter, reflecting growth across our businesses, expense savings and management actions taken to improve returns", said Alex Wynaendts, Aegon CEO.
AON Benfield: This autumn's California wildfires could become the costliest insured wildfire in history
Historic wildfires left record bill for insurers in the United States and Portugal, three strong windstorms strongly impacted Europe, and continuous rainfall and typhoons caused extensive flooding in Asia-Pacific region, shows Aon Benfield's Global Catastrophe Recap report for October.
ALLIANZ reports 2.5 billion euros operating profit in 3Q 2017
ALLIANZ Group reported good results for the third quarter of 2017 after a series of hurricanes, storms and other natural catastrophes drove claims higher.
23 November 2017