News - Re/Insurance groups
PCS: Insured cat losses in the US reached the highest peak in 1H2017 since 2011
1H2017 US insured catastrophe losses have reached the highest value since 2011, slightly exceeding USD 15 billion, says the recently released PCS H1 H1 2017 Catastrophe Review.
ZURICH Group, 1H2017: 14% increase on the operating profit, excluding the Ogden impact
ZURICH Group's business operating profit for 1H2017 rose 14%, excluding the impact of Ogden. The Group remains on track to achieve its strategic objectives for 2017-2019, expecting a 12.5% BOPAT ROE (excluding Ogden).
ERGO in the Baltic States: More claims paid in accordance with the growth
GWP concluded by ERGO in the Baltic States during 1H 2017 have totaled EUR 111 million (1H2016: EUR 96 million)., while customers in region were paid EUR 69 million euros in claims (EUR 68 million euros).
SAMPO, 1H2017: The Baltic P&C insurance business provided about 8% of the group's profit before taxes
Sampo Group's profit before taxes for 1H2017 amounted to EUR 865 million, aprox. 3% less y-o-y. Sampo is the parent group of If P&C Insurance, one of the major players in the Baltic insurance market.
Global total economic losses of USD 44 billion from Cat risks in 1H2017, the preliminary sigma estimates show
According to preliminary Swiss Re's sigma estimates, total economic losses from disasters were USD 44 billion in 1H2017, significantly down from USD 117 billion in 1H2016, as a result of fewer and less intense events.
Aegon strengthens Dutch capital position and reports strong 2Q 2017 results
Solvency II ratio of Aegon NL increases from 144% on June 30, 2017 to
~175% on a pro forma basis as a result of EUR 1 billion capital
injection from the group, the sale of UMG and risk profile enhancements.
KBC Group: exceptionally strong result of 855 million euros in the second quarter
Against the background of strong economic growth, low inflation, an
appreciating euro and low interest rates, KBC delivered an exceptionally
strong performance in the second quarter of 2017, posting a net profit
of 855 million euros.
Chubb Reports Second Quarter Net Income of USD 1,305 million
Chubb Limited today reported net income for the quarter ended June 30,
2017 of USD 1,305 million, or USD 2.77 per share, compared with USD 726
million, or USD 1.54 per share, for the same quarter last year.
Operating income was USD 1,180 million, or USD 2.50 per share, compared
with USD 1,058 million, or USD 2.25 per share, for the same quarter last
year.
AIG Reports Second Quarter 2017 Results
American International Group, Inc. today reported net income of USD 1.1
billion, or USD 1.19 per diluted share, for the second quarter 2017,
compared to USD 1.9 billion, or USD 1.68 per diluted share, in the
prior-year quarter, primarily reflecting net realized capital losses of
USD 69 million compared to net realized capital gains of USD 1.0 billion
a year ago.
Aviva plc 2017 Interim Results Announcement
In the first half of 2017, Aviva has grown operating profit, maintained capital strength and delivered on its strategic agenda. Operating
profit increased 11% to GBP1,465 million (HY16: GBP1,325 million),
underlining the quality of our franchises and the benefits of our
product and geographic diversity. Operating earnings per share (EPS)
increased 15% to 25.8p (HY16: 22.4p).
MetLife Announces Second Quarter 2017 Results
MetLife, Inc. (NYSE: MET) today announced the following results for the
second quarter of 2017. On a GAAP basis, MetLife reported second quarter
2017 net income of USD 838 million, compared to net income of USD 64
million in the second quarter of 2016. On a per share basis, net income
was USD 0.77, compared to net income of USD 0.06 in the prior-year
period.
Sava Re: Rating agency Standard &Poor's revises the medium-term outlook to positive from stable
Following their regular annual review in July 2017, the Standard &
Poor's rating agency affirmed the financial strength rating of "A-"
(excellent) of Sava Re, revising also its medium-term outlook to
positive from stable.
UNIQA: Insolvency of Veneto Banca triggers contractual guarantee and leads to a decline in net profit for the period in the "discontinued operations" of EUR 33.4 million
In December 2016 UNIQA Insurance Group AG (UNIQA) sold its Italian
subsidiaries to the Italian mutual insurance company Società Reale Mutua
di Assicurazioni. In the course of the transaction a contractual was
issued, which guaranteed up to EUR 40 million for the sales cooperation
with Veneto Banca, which is valid until 2019.
TALANX acquired Colombia business of GENERALI for EUR 30 million
The Italian insurer GENERALI announced it has entered into an agreement to sell its units in Colombia (GENERALI Seguros and GENERALI Vida), to German TALANX Group.
Natural disasters claimed fewest deaths in 30 years
Global insured losses from natural disasters during 1H 2017 are estimated at US 22 billion with 76% of these sustained by public and private US insurers, according to "Global Catastrophe Recap: First Half of 2017 report" launched by Impact Forecasting, AON Benfield's catastrophe model development team.
SCOR announces an agreement with the FNMF and Matmut
SCOR announces the signature of an agreement with the Federation
nationale de la Mutualite Francaise and Matmut with a view to the
acquisition of 100% of the shares of MutRe S.A.
Hannover Re expands its ILS activities completing three further transactions
Hannover Re has completed three further transactions as part of its Insurance-Linked Securities (ILS) activities, in a total amount of USD 960 million, a company's press release reads.
Generali has issued the first European multi-peril catastrophe bond
Generali returns to the ILS market with an EUR 200 million cat bond on floods and windstorms in Europe and earthquakes in Italy. The transaction is the first ever European multi-peril indemnity triggered Rule 144A catastrophe bond, the company has announced.
RGA Re joins race to acquire Generali's Netherlands operations
Reinsurance Group of America (RGA Re) has reportedly joined the race to acquire the Netherlands operations of insurance giant Generali. Reinsurance Group of America logoAssicurazioni Generali, one of the largest insurance group's in the world, is actively trying to sell its Netherlands and Belgian operations, with RGA Re joining the race to acquire the Dutch operation, according to local press reports.
Not using mobile phones when driving saves up to 50 per cent on vehicle premiums with UNIQA
With the new SafeLine vehicle tariff, UNIQA customers can save up to 50
per cent on liability insurance if they abstain from using their mobile
phone when driving. UNIQA is one of the trailblazers in the field of
telematics. Additional services include emergency aid in accidents and
emergencies, a logbook and the opportunity to locate your car.
17 August 2017