News - Re/Insurance groups
Chubb Reports First Quarter Operating EPS of USD 2.26 Versus USD 2.25 Prior Year
CHUBB reports first quarter operating EPS of USD 2.26 versus USD 2.25
prior year, while operating EPS with 14-day stub period is USD 2.29.
P&C combined ratio is 90.0% and annualized operating ROE is 10.2%.
At he same time, operating return on tangible equity is 18.5%.
PZU, 1Q2016: the upswing in average motor insurance premium boosts GWP increase;
In Q1 2016 the PZU Group collected gross written premium totaling PLN 4,800.6 million (~EUR 1.12 billion), i.e. 2.6% more than in the corresponding period of 2015, ammounced today the Polish market leader. The 29.5% spike in motor insurance premium income in the corporate client segment and the 20.0% growth in premium income in the mass client segment were particularly visible.
MetLife Announces First Quarter 2016 Results
MetLife reported operating earnings of USD 1.3 billion, down 19 percent
from the first quarter of 2015, and 17 percent on a constant currency
basis. On a per share basis, operating earnings were USD 1.20, down 17
percent from the prior year quarter. Operating earnings in the Americas
decreased 18 percent, and 16 percent on a constant currency basis.
Operating earnings in Asia decreased 7 percent, and 5 percent on a
constant currency basis. Operating earnings in Europe, the Middle East
and Africa (EMEA) decreased 10 percent, and 3 percent on a constant
currency basis.
Willis Towers Watson Reports First Quarter Earnings
Willis Towers Watson, a leading global advisory, broking and solutions
company, today announced financial results for the first quarter of
2016, which ended March 31, 2016. On January 4, 2016, the merger of
Willis Group Holdings (Willis) and Towers Watson & Co. (Towers
Watson) was completed. In this release, the Company has presented
consolidated financial results and legacy segment results for the
quarter ended March 31, 2016 for Willis and Towers Watson.
RSA Insurance may beat 2016 analyst profit forecasts
RSA Insurance Group P.L.C. is on course to meet or beat analysts'
forecasts for profits this year, the firm's chief executive said on
Thursday, showing its resilience after an abandoned takeover bid for the
company in 2015.
Shareholders of TALANX AG approve another dividend increase
The shareholders of TALANX AG have approved by a large majority all resolutions proposed by the Board of Management and Supervisory Board. At yesterday's Annual General Meeting, they voted for the payment of a EUR 1.30 (1.25) dividend per share. Based on the 2015 average share price, this corresponds to a dividend yield of 4.6%. The dividend has therefore increased in every financial year since the IPO in 2012.
AXA, 1Q: Revenues mentained on the rise by P&C and International Insurance Divisions
French insurer AXA reported total revenues of EUR 31.8 billion for the 1Q2016 period, up by 1% y-o-y, "mostly driven by growth in Property & Casualty and International Insurance", as the company announced in a press release.
HANNOVER Re's expectations for 2016's income after taxes close to EUR 1 billion
HANNOVER Re anticipates stable or slightly lower gross premium as well as net income after tax of at least EUR 950 million for the full 2016 financial year. This is conditional on major loss expenditure not significantly exceeding the budgeted level of EUR 825 million and assumes that there are no unforeseen distortions on capital markets.
Which are the main challenges of the global reinsurance market?
Key challenges of the global reinsurance market in 2016 include rising competition, generally soft pricing conditions and tight profit margins, said TRUST Re's representatives, adding that, to effectively overcome these problems, many reinsurers are investing in technological solutions aiming to improve service offering, utilisation of analytics and to enhance operational efficiency and expense management.
ALLIANZ: Strong start in 1Q2016; confirmed expectations for a EUR 10.5 billion full year operating profit
ALLIANZ Group achieved strong results in the first quarter of 2016 in a continued challenging environment. Net income attributable to shareholders rose by 20.5% to EUR 2.2 billion, driven in part by non-operating realized gains. "The first quarter represented a great start to the year. We are well on our way towards achieving our operating profit target in the range of EUR 10.5 billion, plus or minus EUR 500 million for the entire year," said Dieter WEMMER, CFO of ALLIANZ SE.
GENERALI 1Q2016: Operating return exceeding the 13% RoE target
GENERALI Group recorded a 6.4% growth of Life net cash inflows (premiums collected net of claims and benefits paid) to over EUR 4.5 billion and the further improvement in the P&C technical result, with a combined ratio at 92% (-1.3 p.p.). The total premium income is broadly in line at EUR 19.7 billion (-1.1%; EUR 20.1 bln 1Q15).
MetLife Announces First Quarter 2016 Results 5 May 2016
MetLife reported operating earnings of USD 1.3 billion, down 19 percent from the first quarter of 2015, and 17 percent on a constant currency basis*. On a per share basis, operating earnings were USD 1.20, down 17 percent from the prior year quarter. Operating earnings in the Americas decreased 18 percent, and 16 percent on a constant currency basis. Operating earnings in Asia decreased 7 percent, and 5 percent on a constant currency basis. Operating earnings in Europe, the Middle East and Africa (EMEA) decreased 10 percent, and 3 percent on a constant currency basis.
MMC reported slight decline in Q1 operating income
The MARSH & McLENNAN Companies (MMC) reported for 1Q 2016 consolidated revenues of USD 3.3 billion, 4% up y-o-y. The operating income was ofUSD 733 million (vs. USD 735 million in 1Q2015), while the net income attributable to the Company was of USD 481 million (vs. USD 482 million): "On a per share basis, net income attributable to the Company rose by 3%, to USD 0.91 from USD 0.88 last year", the company noted in the press release.
ADRIS Group annouced the completion of the 1st phase of restructuring of CROATIA Osiguranje
In 2015 CROATIA Osiguranje group recorded GWP in the amount of HRK 2.97 billion (~EUR 389 million), 3.5% up y-o-y, the insurer's main shareholder - ADRIS Group annouced on its website. At the same time, CO group reported a consolidated net profit of HRK 110 million in 2015 (~EUR 14.4 million), compared to a loss of HRK 465 million in 2014 (~EUR 60.7 million), while the combined ratio was improved by 13.1% to 103.8%.
GENERALI's top management for the years 2016-2018
Last week, the Shareholders' Meeting of Assicurazioni GENERALI S.p.A has approved the financial statements for the year 2015, reporting a net profit of EUR 2,030 million. At the same time, the distribution to the shareholders of a dividend of EUR 0.72 per-share (to be paid as from 25th May 2016) was announced, while the Board of Directors confirmed the top management for the next three years 2016-2018.
AON Q1 net income declined 4% to USD 315 million
The risk and insurance brokerage services provider AON reported a net income attributable to shareholders of USD 315 million (or USD 1.15 per share ) for the first three months of the year, compared to USD 328 million (USD 1.14 per share), for the prior year quarter.
Swiss Re reports Q1 net income of USD 1.2 billion, while the premium income rises to USD 7.9 billion
Swiss Re reported strong net income of USD 1.2 billion for the first quarter, below the USD 1.4 billion reported in the prior-year period. "The result reflects continued good underwriting discipline and higher income from Life Capital", as the reinsurer announced in a statement.
ALLIANZ targets an operating profit of EUR 10.5 billion in 2016
ALLIANZ Group announced it achieved 1Q2016 total revenues of EUR 35.4 billion, 6.4% less y-o-y. Operating profit reached EUR 2.8 billion (a decrease of 3.5% ), while net income attributable to shareholders was EUR 2.2 billion, "which is 20.5% above the year-earlier figure, driven in part by non-operating realized gains", the German insurer pointed out in a statement.
Swiss Re: Moses OJEISEKHOBA to become CEO Reinsurance, Jayne PLUNKETT to succeed him as Regional President and CEO Reinsurance, Asia
Following the Group's announcement concerning CEO's Michel M. LIES retirement, after four successful years and his replacement by Christian MUMENTHALER, currently CEO Reinsurance, as of 1 July 2016, Swiss Re's Board of Directors decided that Moses OJEISEKHOBA (49, Nigerian and British), currently Regional President and CEO Reinsurance, Asia and a member of the Group Executive Committee, will become the new CEO Reinsurance.
AIG reports Q1 net income of USD 773 million
American International Group, Inc. (NYSE: AIG) today reported after-tax
operating income of USD 773 million, or USD 0.65 per diluted share, for
the first quarter of 2016, compared to USD 1.7 billion, or USD 1.22 per
diluted share, in the prior-year quarter, reflecting the negative impact
of market volatility on investments that totaled USD 0.48 per diluted
share.
12 May 2016