News - Re/Insurance groups
TALANX approves change of leadership
At the meeting taking place on 10 November, the Supervisory Board of TALANX AG approved a change of leadership at the top of the company.
Stable operating result at EUR 3.6 billion for GENERALI in the first 9 months of 2017
GENERALI Group reports a stable operating result of EUR 3.6 billion for the first 9 months of 2017*.
The Group notes a solid performance in Life and P&C businesses, despite the increase of EUR 70 million in natural catastrophe claims, as well as improved performance in Holding and other businesses.
The Group notes a solid performance in Life and P&C businesses, despite the increase of EUR 70 million in natural catastrophe claims, as well as improved performance in Holding and other businesses.
Munich Re: Natural catastrophes dominate in third quarter
Munich Re has posted a high loss for the third quarter of 2017, but is expecting a significant market recovery.
HANNOVER Re records solid Group net income despite substantial natural catastrophe losses
The Group net income recorded by HANNOVER Re as at 30 September 2017 is marked by an above-average burden of catastrophe losses. The business result of EUR 548.9 million (EUR 791.9 million) fell short of the comparable period, above all due to heavy loss expenditure from hurricane and earthquake events.
ZURICH to transfer German legacy medical malpractice portfolio to CATALINA
ZURICH Insurance Group (Zurich) announced that its subsidiary ZURICH Insurance plc has entered into an agreement with CATALINA Insurance Ireland DAC (CATALINA) to transfer its German legacy medical malpractice book to CATALINA.
Berkshire Hathaway reports USD 3 billion losses from 3Q cat events
Berkshire Hathaway's operating earnings in the third quarter and first nine months of 2017 are net of pre-tax underwriting losses of approximately USD 3 billion (USD 1.95 billion after-tax) attributable to three major hurricanes (Harvey, Irma and Maria) and an earthquake in Mexico, the company reported in a press release.
A.M. Best highlights the strength of rated re/insurers in the mature EMEA markets
An A.M. Best analysis of re/insurers domiciled in the mature markets of the European, Middle East and Africa (EMEA) region under the rating agency's updated Best's Credit Rating Methodology (BCRM) and its new building-block approach has revealed that 87.6% of rated companies in this group have Long-Term Issuer Credit Ratings deemed "Excellent" or above.
AON report: Failure to innovate, now a top five risk for EMEA financial institutions
AON identified significant new threats facing financial institutions in Europe, Middle East and Africa, in its latest "2017 EMEA Financial Institutions Industry Report". Thus, for the first time, "failure to innovate" and "disruptive technologies" both enter the top 10 risks affecting the financial institutions in the region.
ZURICH's top-line for the first three quarters shows good growth
New business volumes and customer retention in Property & Casualty and Life for ZURICH Insurance Group are both up, the Group stated in a press release.
AXA's 3Q revenue down 0.5% y-o-y to EUR 75.4 billion
French insurer AXA reported a 0.5% decline in nine-month revenues due to lower sales in Life & Savings and a flat performance in Property & Casualty products.
TRIGLAV's Macedonian non-life unit reports 24% increase in after-tax profit
Macedonian non-life insurer Triglav Osiguruvanje after-tax profit rose to MKD 73.4 million (~ EUR 1.2 million) in the first nine months of 2017, almost 24% up y-o-y, report SeeNews quoting a company statement.
AIG Reports Third Quarter 2017 Results
American International Group, Inc. today reported a net loss of USD 1.7 billion, or USD 1.91 per share, for the third quarter of 2017, compared to net income of USD 462 million, or USD 0.42 per diluted share, in the prior-year quarter. After-tax operating loss was USD 1.1 billion, or USD 1.22 per share, for the third quarter of 2017, compared to after-tax operating income of USD 1.1 billion, or USD 1.01 per diluted share, in the prior-year quarter.
SWISS Re's nine months results strongly impacted by natural catastrophes
Swiss Re reported a Group net loss of USD 468 million for the first nine months of 2017, reflecting the USD 3.6 billion expected insurance claims from hurricanes Harvey, Irma, Maria, and the Mexico earthquakes.
ALLIANZ to sell part of its Taiwanese life insurance portfolio to CHINA Life
German insurer ALLIANZ announced its Taiwanese life insurance unit (ALLIANZ Taiwan Life Insurance) has reached an agreement to sell a part of its traditional life insurance portfolio to CHINA Life Insurance, headquartered in Taipei, Taiwan.
SAVA Re's financial strength rating by A.M.Best affirned at A-, stable outlook
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of SAVA Re, Slovenia, the operating holding company of the SAVA Re Group. The outlook of these Credit Ratings (ratings) remains stable.
Aon's acquisitions season continue with UK-based broker HENDERSON Insurance Broking Group and the Dutch Unirobe Meeùs Group
The risk and insurance brokerage services provider Aon announced is to acquire the independent UK-based insurance broking firm HENDERSON Insurance Broking Group, in a deal which Aon anticipates to be completed in December.
TALANX anticipates a Q3 net loss of EUR 20 million after EUR 900 million in NatCat claims
German insurer TALANX said it would post a loss for the third quarter and reduced its 2017 profit target by EUR 200 million due to large losses from hurricanes Harvey, Irma and Maria and the earthquakes in Mexico.
MMC: 9 months revenue expanded by USD half billion
The MARSH & McLENNAN Companies (MMC) reported Q3 2017 consolidated revenues of USD 3.3 billion, up by 7% y-o-y.
Slovenian TRIGLAV and TRIGLAV Re's financial strenght rating affirmed by A.M. Best to A
A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" of Slovenian TRIGLAV, the parent company of the TRIGLAV group, and TRIGLAV Re. The outlook of these Credit Ratings (ratings) remains stable.
AON reports 42% decrease in Q3 net income to USD 185 million
Insurance brokerage company AON reported third quarter revenue of USD 2.3 billion, an increase of 6% y-o-y over the previous year's result. Acquisitions have played an important role in the revenues dynamic.
10 November 2017