In 3Q2016 the GWP generated by PZU Ukraine and PZU Ukraine Life Insurance, part of PZU Group, reached to UAH 1 billion, up y-o-y by 56% and 31%, respectively, reads the official press release.

The announcement was made by Abdul-Nasser Hemmati, the president of the Central Insurance of Iran.

The major earthquake that struck off the coast of Japan in the early hours of this morning local time and the tsunami waves that followed, are not anticipated to have caused significant damage, according to risk modelling firm RMS.

The Italian GENERALI Group is planning to exit 13 to 15 countries where business is underperforming or lacking potential for development, said company representatives at the GENERALI Investor Day 2016, currently taking place in London.

The SAVA Re Group ended the first 3 quarters of 2016 with a y-o-y GWP increase of 1.5%, to EUR 390.5 million, mostly driven vy the Slovenian non-life insurance business (2.4%) and non-Slovenian insurance business (4.0%). This growth was partly offset by a moderate y-o-y decline in reinsurance premiums (-0.6%) and Slovenian life insurance premiums (-0.8%).

Barents Group has established a new subsidiary company based in Luxembourg, as an underwriting entity for all international new and renewal business with immediate effect, the Group has announced on November 14th.

VIG's profit before taxes amounted to EUR 301.3 million, 64% of this total volume representing the CEE markets' contribution. Group premiums rose by 0.7%, despite the ongoing restraint in single premium life insurance business (-18.6%). When adjusted for single premium business, premiums increased by a respectable 4.7%.

The TRIGLAV Group ended the first 9 months period with a profit before tax of EUR 68 million and posted EUR 721 million of consolidated gross insurance and co-insurance premiums. The premium growth of the Group in Slovenia was at the level of the market growth, while on the markets outside Slovenia was of 9%. In the reporting period, the operations of the Group were affected by mass loss events and the environment of record low or even negative interest rates on the financial markets.

PZU Group posted a consolidated net profit attributable to the parent company of PLN 649 million (EUR 150.5 million) in 3Q2016, 27% up y-o-y, the cumulative profit amounting to PLN 1,309 million (EUR 303.6 million). GWP in the first three quarters has climbed 9.2% y-o-y, to PLN 14,706 million. Life insurance market share measured by regular premium has reached a record-breaking 45%.

ALLIANZ Group, Europe's largest insurer and asset manager, saw operating profit in Q3 rise 18.2% to EUR 2.9 billion, driven by contributions from all business segments. The L&H segment produced the strongest results. Operating profit outlook for 2016 was confirmed at EUR 10.5 billion, plus or minus EUR 500 million.

Against a background of persisting low interest rates, modest economic growth in Belgium and firmer growth in Central Europe and Ireland, KBC posted a strong net profit figure of 629 million euros in the third quarter of 2016, compared to the 721 million euros recorded in the preceding quarter (which had been boosted by a one-off positive impact of 84 million euros (after tax) resulting from the sale of Visa Europe shares) and the 600 million euros returned in the third quarter of 2015.

"'Despite the prevailing uncertain economic conditions, we continue to deliver on our targets to generate capital and improve earnings, while bringing our brand promise 'You matter' to life for our customers every day. We maintain a strong balance sheet, with a solvency ratio of 236%", said Lard Friese, CEO.

Continuing its efforts to recalibrate its business to focus on core operations, American  International Group Inc. AIG has entered into a strategic agreement with FWD Group, the insurance arm of Pacific Century Group.

MUNICH Re posted a consolidated profit of EUR 2.1 billion for the first nine months of 2016 . In the third quarter, the Group realised a profit of EUR 684 million (525 million in 2015). Following the gratifying result for the third quarter, the profit for the current year is expected to significantly exceed the previously projected amount of EUR 2.3 billion.

The GWP of the Italian Group GENERALI reached EUR 52.1 billion at the end of the first nine months of 2016 (-2.8% y-o-y). The Combined Ratio improved to 92.4% (-0.2 p.p.) while the operating result exceeded EUR 3.6 billion (-5.6%) with recovery in third quarter (+7.3%) and the net profit amounted to over EUR 1.6 billion (-5.9%), accelerating in the last three months (+6.4%).

AXA announced that it had entered into an agreement with MARSH to sell BLUEFIN Insurance Group Ltd, its P&C commercial broker in the UK. The price for the disposal of BLUEFIN would amount to GBP 295 million (or EUR 340 million). The proposed transaction is subject to customary conditions, including the receipt of regulatory approvals, and should be finalized before the end of the Q1 2017.

German insurer TALANX posted 3Q2016 net income of EUR 635 million, about 30.1% more y-o-y and raised its FY2016 outlook to net income of at least EUR 750 million, based on stable GWP volumes and constant exchange rates. At the same time, for the 2017 financial year, TALANX anticipates Group net income again of at least EUR 750 million.

Swiss insurance group ZURICH reported a business operating profit of USD 3.4 billion (up by 34% y-o-y) and net income attributable to shareholders of USD 2.5 billion (28% more y-o-y) for 3Q2016, "due to underlying improvements in General Insurance and continued strong performance from Global Life and FARMERS", as the company announced in a statement.

French insurer AXA reported total revenues of EUR 75.7 billion for the first nine months of 2016, up by 0.4% y-o-y, "as growth in Property & Casualty and International Insurance was partly offset by Life & Savings and Asset Management", as the company mentioned in a press release.

The third-largest reinsurer in the world in premiums terms - HANNOVER Re posted 3Q2016 aggegate net income of EUR 790.0 million vs. EUR 786.0 million a year before, while the value of GWP contracted by 3.8% to EUR 12.5 billion (EUR 12.9 billion). "We are very well on track to achieve our profit target of at least EUR 950 million for the full 2016 financial year," Chief Executive Officer Ulrich WALLIN stated.