News - Re/Insurance groups
Aegon reports net income of EUR 358 million in Q3 2016
"Aegon's Solvency II ratio remains strong and our management actions enabled us to mitigate adverse market impacts...", said Alex Wynaendts, Aegon CEO.
Hannover Re posts strong nine-month result for 2016
HANNOVER Re reported on 30 September 2016 a net income slightly above the previous year's level at EUR 790 million (EUR 786 million).
AON: Hurricane Matthew caused up to USD 15 bn impact to US and Caribbean economies in October
Total U.S. economic losses from Matthew were forecast to range as high as USD 10 billion, while public and private insurance losses were estimated to possibly reach USD 5 billion, according to the latest edition of the monthly Global Catastrophe Recap report published by Impact Forecasting, Aon Benfield's catastrophe model development team.
AM Best: SAVA Re's rating affirmed to Excellent with stable outlook
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long Term Issuer Credit Rating of "a-" of Pozavarovalnica SAVA d.d. (SAVA Re, Slovenia), the operating holding company of the SAVA Re Group. The outlook is stable.
AON's reinsurance business receives double accolade for implementation of ACORD Standards
AON Benfield, the global reinsurance intermediary and capital advisor of AON plc, has announced on November 7, that it received two awards from ACORD, the global standards-setting body for the insurance industry, during a recent ceremony in Boca Raton, Florida.
Munich Re posts profit of EUR 684 million in third quarter - Profit guidance of well over EUR 2.3 billion for 2016 10 November 2016
Munich Re posted a consolidated profit of EUR 2.1bn for the first nine months of 2016 (same period last year: EUR 2.4bn). In the third quarter, the Group realised a profit of EUR 684m (525m). Profit for the current year is expected to significantly exceed the previously projected amount of EUR 2.3bn.
Willis Towers Watson Reports Third Quarter Earnings
Willis Towers Watson (NASDAQ:WLTW) (the "Company"), a leading global
advisory, broking and solutions company, today announced financial
results for the third quarter of 2016, which ended September 30, 2016.
On January 4, 2016, the merger of Willis Group Holdings plc (Willis) and
Towers Watson & Co. (Towers Watson) was completed. In this release,
the Company has presented consolidated financial results for the
quarter ended September 30, 2016 and certain pro forma results for the
quarter ended September 30, 2015.
Swiss Re: Net income of USD 3.0 billion for 3Q2016
Swiss Re reported net income of USD 3.0 billion for 3Q 2016, despite the difficult market environment, reads the latest press release issued by the group. All Business Units contributed to this strong result. Net income in Property & Casualty Reinsurance was of USD 1.5 billion, while for Life & Health Reinsurance stood at USD 635 million.
A.M. Best upgrades TRIGLAV rating to 'A'
Slovenian insurance group TRIGLAV announced that A.M. Best Credit Rating Agency upgraded the financial strength rating of "A-" to "A" (Excellent) and the issuer credit rating of "a-" to "a" (Excellent) of Slovenian insurer Zavarovalnica TRIGLAV and its reinsurance unit Pozavarovalnica TRIGLAV Re. "The ratings of both companies have a stable medium-term outlook".
SCOR's 3Q net income hit by NatCat events
The Paris-based reinsurer SCOR reported a 11% y-o-y decrease in its nine months net income to EUR 438 million "due to a higher number of natural catastrophes and a challenging macroeconomic environment", while the value of GWP was up by 4.4% y-o-y to EUR 10.21 billion, the French reinsurer annouced in a statement.
AIG Reports Third Quarter 2016 Results
American International Group, Inc. (NYSE:AIG) today reported net income
of USD 462 million, or USD 0.42 per diluted share, for the third quarter
of 2016, compared to a net loss of USD 231 million, or USD 0.18 per
diluted share, in the prior-year quarter.
MetLife Announces Third Quarter 2016 Results
On a GAAP basis, MetLife reported third quarter 2016 net income of USD
571 million, down 52 percent from the third quarter of 2015. On a per
share basis, net income was USD 0.51, also down 52 percent from the
prior-year period.
AON 3Q2016: Flat revenue and 4% increase in profit
Insurance brokerage company AON announced its net income increased 4% to USD 314 million in the third quarter of 2016 compared with USD 303 million a year before. Net income attributable to shareholders was up by USD 12 million to USD 307 million, while the net income per share attributable to AON shareholders was USD 1.14 (vs. USD 1.04 a year before).
CROATIA Osiguranje Group's net profit up by 49% in 3Q
During the first nine months of this year, the CROATIA Osiguranje Group generated a profit before tax in the amount of HRK 199 million (about EUR 26.5 million) vs. HRK 136 million - during the same period last year (47% more y-o-y). At the same time, the net profit increased 49% y-o-y to HRK 159 million (~EUR 21.2 million), as the company announced in a statement published on the Zagreb Stock Exchange web page.
MMC Q3 operating income up by 24% y-o-y
The MARSH & McLENNAN Companies (MMC) reported Q3 2016 consolidated revenues of USD 3.1 billion, up by 1% y-o-y. The operating income increased by 24%, to USD 572 million, while the net income attributable to the Company was up 17% to USD 379 million. Earnings per share increased 20% to USD 0.73 while adjusted earnings per share rose 10% to USD 0.69 compared with USD 0.63 in last year's third quarter, as MMC announced in a statement published on its web site.
HANNOVER Re subsidiary anticipates premium growth in the German market
E+S Ruck - which within the HANNOVER Re Group bears responsibility of
the German business - expects to see premium growth in its home market
for the upcoming treaty renewals as at 1 January 2017: "Along with motor
insurance, growth will likely be driven in particular by homeowners'
comprehensive insurance, where premium increases are necessary on
account of the unsatisfactory business development", as the reinsurer
announced on its web site.
Bulgarian EUROINS Insurance Group's nine months GWP rises 9.4% y-o-y
The Bulgarian EUROINS Insurance Group - EIG, reported for the nine months of 2016 a 9.4% increase of its aggregate GWP to EUR 185.6 million, according to the preliminary results published by the group. Positive rates were reported by EUROINS Romania (+18.6%) and EUROINS Life (+9.5%), while EUROINS Bulgaria (-14.2%) and EUROINS Macedonia (-3.0%) have seen a downward trend.
CROATIA Osiguranje was denied the right to increase its ownership in Slovenian reinsurer SAVA Re
Slovenia's insurance supervisory authority had banned CROATIA Osiguranje from increasing its 20% stake in reinsurer SAVA Re, hindering the Croatian market leader's cross-border expansion plans.
Canadian group Fairfax buys AIG's operations in Eastern Europe
Canadian insurance group Fairfax will buy American group AIG's
operations in Romania, Bulgaria, Czech Republic, Hungary, Poland, and
Slovakia, the two groups announced on Tuesday, October 18.
NN Hellas - 'Best Life Insurance Company in Greece'
NN Hellas recently won 'Best Life Insurance Company in Greece' at the Global Insurance Awards 2016, organised by the internationally acclaimed World Finance magazine.
14 November 2016