News - Re/Insurance groups
Aegon reports third quarter 2015 results
"During the third quarter of the year, Aegon's earnings were impacted by
assumption changes, our ongoing model refinement program, and the
anticipated book loss on the sale of our low-return business in Canada", said Alex Wynaendt, CEO.
MUNICH Re 9 months profit down by 2% y-o-y to EUR 2.39 billion
MUNICH Re reported a consolidated profit of EUR 2.39 billion for the first nine months of 2015 - down by 2% from EUR 2.43 billion in 3Q 2014, while in the third quarter, the Group posted a profit of EUR 525 million (vs. EUR 736 million in Q3 2014). "For the current financial year, MUNICH Re is still aiming for a profit of at least EUR 3 billion", as the reinsurer affirmed in a press release.
ZURICH reports BOP of USD 2.5 billion for first nine months of 2015
ZURICH Insurance Group reported a business operating profit (BOP) of USD 2.5 billion and net income attributable to shareholders (NIAS) of USD 2.3 billion for the nine months ended September 30, 2015, the company said in a statement. "These results are in line with the preliminary update that we released in September in response to the underperformance in parts of our General Insurance business", declared Chief Executive Officer Martin SENN.
GENERALI, 3Q2015: Net profit of EUR 1.7 billion, already surpassing 2014 full year result
"In the first nine months of 2015 GENERALI has continued to improve technical performance. There has been significant growth in terms of premium income and profitability both in Life and, in particular, in P&C, reaching a net profit of EUR 1.7 billion, already surpassing 2014 full year result," stated Alberto MINALI, Generali Group CFO commenting on the Group's 3Q results.
ALLIANZ 3Q2015: solid business fundamentals entitles Group's expectations for an operating profit of EUR 10 to 10.8 billion
Over the first nine months of the year, ALLIANZ Group total revenues rose 3.5% to EUR 95.5 billion. Operating profit remained stable at EUR 8.15 billion. Net income attributable to shareholders increased 3.9% to EUR 5.20 billion.
NN Group delivers continued solid performance in 3Q15
"Overall, our business continued to show a solid performance in the
third quarter of 2015 despite volatile financial markets. The strong
increase in the Group's operating result compared with the third quarter
of 2014 was mainly driven by Netherlands Life, supported by a large
private equity dividend. Insurance Europe also contributed to the
increased result and continues to make progress in shifting its product
mix towards protection products. In Japan, our focus on the SME segment
is bearing fruit, as COLI protection sales are showing double-digit
growth. Overall sales for the Group were down, as we focus on profitable
growth in the low interest rate environment. We recognise that there is
more work to do to increase the net inflows of our asset management
business and to improve the combined ratio of the Dutch Non-life
company", said Lard Friese, CEO.
MetLife Announces Third Quarter 2015 Results
MetLife reported operating earnings of USD 705 million, down 61 percent
from the third quarter of 2014, and 59 percent on a constant currency
basis. On a per share basis, operating earnings were USD 0.62, down 61
percent over the prior year quarter. Operating earnings in the Americas
decreased 18 percent, and 16 percent on a constant currency basis.
Operating earnings in Asia increased 9 percent, and 26 percent on a
constant currency basis. Operating earnings in Europe, the Middle East
and Africa (EMEA) decreased 15 percent, but were up 14 percent on a
constant currency basis.
SCOR nine month profit close to half billion euro
French reinsurer SCOR gross written premiums reached EUR 9,996 million
in the first nine months, up 19.3% at current exchange rates compared to
the same period in 2014 (+5.8% at constant exchange rates).
Hannover Re's reports 21% increase in GWP for the first nine months
Hannover Re's group net income reached EUR 786 million in the first nine months of 2015, 13% more than in January-September 2014 (EUR 695.4 million). "We are confident of achieving our ambitious profit target of around EUR 950 million for the full financial year", said Ulrich WALLIN, CEO, Hannover Re.
AON Q3 profit and revenues down, impacted of unfavorable foreign currency translation
Insurance brokerage company AON announced its net income declined 4 percent to USD 303 million in the third quarter of 2015 compared with USD 315 million a year before. Net income attributable to shareholders decreased by about 5% y-o-y to USD 295 million , while the net income per share attributable to AON shareholders remained at the Q3 2014 level: USD 1.04.
VIDEO: Alexandre GUERASSIMENKO, Hannover Re: In the long run we can expect an increase on the CIS market
The Russian re/insurance companies are facing different challenges which reflect in the general economic development, the depreciation of the local currency and the sanction regime, stated Alexandre GUERASSIMENKO Senior Underwriter, Hannover Re, in an interview for XPRIMM Publications during the Baden-Baden Meetings 2015.
PZU aims to create a mutual insurer for hospitals
At the beginning of November, the Financial Supervisory Commission in Poland approved the creation of TUW Polish PZU Insurance Mutual (PZUW). This is a step towards ensuring effective medical protection for hospitals through an insurance focused on active risk management.
A.M. Best has affirmed the financial strength rating of UNITY Re at B+ (Good)
A.M. Best has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of "bbb-" of UNITY Reinsurance Company (Russia). The outlook for both ratings remains negative due to challenging macroeconomic environment in Russia.
AIG Reports Third Quarter 2015 Results
American International Group, Inc. today reported after-tax operating
income of USD 691 million, or USD 0.52 per diluted share, for the third
quarter of 2015, compared to USD 1.7 billion, or USD 1.19 per diluted
share, in the prior-year quarter. Compared to the prior-year quarter,
third quarter operating results decreased due to lower income on hedge
fund investments, lower income on assets marked to fair value through
earnings, including part of AIG's holdings in People's Insurance Company
(Group) of China Limited (PICC Group) and PICC Property & Casualty
Company Limited (PICC P&C) shares and assets in Corporate and Other.
Lower GOE partially offset these decreases resulting from expense
management actions surrounding a freeze of U.S. retirement plans.
ACHMEA: Michal SPANAR appointed CEO of UNION Slovakia
Starting October 12, 2015, Michal SPANAR has been appointed Chief Executive Officer (CEO) of UNION, ACHMEA's insurance company in Slovakia. Michal SPANAR brings more than 15 years of relevant industry experience, having previously served in different executive roles at ING Group, ALLIANZ and other financial services companies.
AVIVA plc Third Quarter 2015
"We are maintaining the momentum of AVIVA's transformation with a
further quarter of improved performance. In life insurance, value of new
business was up 25%, the eleventh consecutive quarter of growth. The
general insurance combined ratio of 94.0% is a more than adequate
result. This level of consistency is important as we transform and grow
AVIVA", said Mark WILSON, Group Chief Executive Officer.
INSURANCE: Swiss Re proposes Sir Paul TUCKER to be elected to its Board at the AGM in April 2016
Swiss Re's Board of Directors will propose Sir Paul TUCKER as a new member for election at the Annual General Meeting on 22 April 2016 as part of the continued aim to further diversify and renew its composition, as the reinsurer announced in a statement.
AM Best affirms A ratings of Assicurazioni GENERALI and its main subsidiaries
The rating agency AM Best announced on October 23th that it has affirmed GENERALI's FSR rating at A (Excellent). At the same time, for the first time, AM Best has assigned the same FSR rating also to the subsidiaries GENERALI Italia and CESKA pojistovna (Czech Republic).
The strong US dollar impacted the Q3 MMC revenues
MARSH & McLennan Companies (MMC) reported for the third quarter of 2015 consolidated revenues of USD 3.11 billion, a decline of 0.8% y-o-y, "reflecting the continuing impact of the strong US dollar", the company representatives said in a statement. For the nine months of 2015, MMC reported revenue of USD 9.55 billion, down by 1.5% y-o-y while the net income increased 4.5% to USD 1.22 billion.
EIG business up by almost 50% in 3Q due to the impressive growth-rate reported on MTPL by the Romanian subsidiary
According to the preliminary figures published by the Bulgaria-based EUROINS Insurance Group (EIG), in 3Q2015 the value of GWP was up by 48.8%, to EUR 169.6 million, mostly driven its Romanian subsidiary results.
12 November 2015