Swiss Re reported an 11% rise in net income to USD 2.3 billion for the first half of 2015. All business segments contributed positively to this result, with Property & Casualty Reinsurance delivering net income of USD 1.3 billion for the period, while the combined ratio of 88.7% reflects disciplined underwriting and benign natural catastrophe losses.

In profitability terms the GENERALI Group achieved its best performance in the last eight years in 1H2015, with the operating result going up by 11.3% y-o-y, to EUR 2.78 billion while the net profit grew by more than 21% to EUR 1.30 billion. GWP increased by 7.3% to EUR 38.2 billion, showing an upward trend in both segments. In August Fitch Rating affirmed IFS (Insurer Financial Strength) rating of Generali and its core subsidiaries to A-.

MUNICH Re posted a consolidated profit of EUR 1.07 million for the second quarter of 2015, 41.2% up y-o-y, while for 1H the profit amounted to EUR 1.87 billion, 9.6% up y-o-y. The below-average random incidence of major losses, as well as the very good investment result were the main drivers of the good results reported for the 2nd quarter. For the current financial year, Munich Re is now aiming for a profit of at least EUR 3 billion.

The reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, says Fitch Ratings in a new global sector report.

PZU Group's sales saw a record-breaking amount in 1H2015, of PLN 9.13 billion (EUR 2.17 billion), some 8.2% more than in the corresponding period last year. In the first six months of this year the insurer recorded net profit in excess of PLN 1.3 billion (EUR 309 million). The company also sustained its high return on equity with an ROE of 21.1%.

Starting September 1st, the CEE insurance business of the ALLIANZ Group will be managed by Dr. Werner ZEDELIUS, who will take over this assignment from Manuel BAUER. The change is part of a larger reorganization action meant to reduce the German insurer's Management Board from 10 members to 9.

ERGO's Baltic subsidiaries reported for the first half year 2015 GWP amounting to EUR 89.3 million, 15% up y-o-y, a growth pace outperforming by far the average 6.2% increase in premium written seen in the Baltic markets during the period. Positive bottom line result amounted to EUR 5.22 million profit which is more than double than same period last year. At regional level, ERGO's market share increased to 13.2%. 

The international reinsurance and non-Slovenian insurance business were the main drivers of the increase in income saw by the SAVA Group in 1H2015. GWP amounted to EUR 276.7 million, over 3% up y-o-y, while the net profit increased by 33.9%, to EUR 17.1 million, exceeding the budgeted figure for the first six months. The largest contributions to the profit figure came from Slovenian non-life insurance business, followed by Slovenian life business and reinsurance business. 

The foreign subsidiaries of the TRIGLAV Group had a determinant contribution to the 4% positive y-o-y GWP evolution reported by the Group, to EUR 507.8 million. Thus, while the Slovenian mother company TRIGLAV, booked 1% less y-o-y or EUR 333.9 million in GWP, in the other five Adriatic countries where the Group is active, all subsidiaries saw premium growth compared to the corresponding period of the previous year, whith the highest growth rate in Serbia.

In the first six months of the year TRUST Re's Gross Written Premium reached USD 328.6 million representing a 4.5% increase y-o-y. Net Underwriting Profit rose by 75.4% to reach USD 12.1 million, largely as a result of the improvement in the loss experience during the reporting period.

Total revenues of the ALLIANZ Group rose by 7.1% y-o-y in 1H2015, to EUR 67.9 billion. Operating profit climbed 3.7% to EUR 5.70 billion, while net income attributable to shareholders advanced 13.1%, to EUR 3.84 billion.

For the second quarter of 2015, the risk and insurance brokerage services provider AON posted a total revenue of USD 2.8 billion, down by 4% y-o-y "primarily by a 7% unfavorable impact from foreign currency translation, partially offset by 2% organic revenue growth and a 1% increase in commissions and fees related to acquisitions, net of divestitures". The net income attributable to shareholders was down by 41% y-o-y to USD 178 million, or USD 0.62 per share, compared to USD 304 million, or USD 1.01 per share, for the prior year quarter.

Driven by growth in all its business segments, the French insurer AXA reported total revenues of EUR 54.5 billion for the 1H2015 period, up 2% y-o-y on a comparable basis. At the same time, the net income was down by 7% to almost EUR 3.1 billion, according to the half year activity indicators published by the group. On a reported basis, the two mentioned indicators increased by 10% and 2%, the group noted in a press release.

The Bulgarian insurance group EUROINS (EIG) - member of EUROHOLD, reported for the first half of 2015 a 53.65% increase of gross written premiums (GWP), up to EUR 115.97 million, according to preliminary data published by the group. Positive rates in GWP were reported by EUROINS Romania (+61.9%), EUROINS Bulgaria (+47.5%) and EUROINS Macedonia (14.8%), while the two specialized insurers - EUROINS Life (-6.3%) and EUROINS Health (-44.2%) reported negative dynamics.

MARSH & McLENNAN Companies (MMC) reported for the second quarter of 2015 consolidated revenues of USD 3.22 billion, a decline of 2% compared with Q2 2014, "reflecting the continuing impact of the strong US dollar", the company noted in the press release. Operating income was USD 629 million compared with USD 647 million in the prior year, while the net income attributable to the Company was USD 419 million (vs. USD 431 million in Q2 2014).

For the first six months of 2015, the French insurer GROUPAMA posted a substantially higher net income of EUR 266 million (+90% y-o-y), a solid solvency margin of 251% (vs. 253% at 31 December 2014), while the net non-life combined ratio was 98.7% vs. 98.5% at 30 June 2014. At the same time, the French Group reported an improvement in economic operating income to EUR 116 million, EUR 16 million more compared with a year earlier.

Affected by the impairment in full of goodwill amounting to EUR 155 million in the German life insurance business, the insurer TALANX posted a half-year net income of EUR 311 million (vs. EUR 381 million in 1H2014) and gross written premiums of EUR 16.8 billion, or EUR 1.8 million more compared with the 1H2014 figure. At the same time, the operating profit (EBIT) improved by 1% "to just over EUR 1 billion despite the one-off burden", the German insurer announced in a statement.

VIENNA Insurance Group wrote EUR 4.9 billion in consolidated premiums in the first six months of 2015 (minus 1.5 percent), without single premium policies reporting a solid increase of 2.2 percent compared to the previous year.

A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of Trust International Insurance & Reinsurance Company B.S.C. (c) Trust Re (Trust Re) (Bahrain). The outlook for both ratings remains stable.

Claudia STRANSKY, Member of the Board of Directors of VIG Re, has decided to step down from her executive duties on 31 December 2015 in order to pursue career opportunities outside of the industry.