News - Re/Insurance groups

NN Group posts strong 2Q15 results

"Our second-quarter results were very strong and contributed to a good first half of the year. Overall operating result from the ongoing business was 90% higher, supported by several favourable items in the Netherlands, including a large private equity dividend. Even excluding these items, we saw healthy operating performance in all of our businesses, especially in Netherlands Life and Insurance Europe. With cumulative expense savings of EUR 198 million, we have essentially achieved our overall cost savings target of EUR 200 million in the Netherlands ahead of schedule. While we are pleased with another quarter of strong results, there is room for further improvement. We will continue to focus on efficiency, improving the combined ratio of our Non-life business, strengthening the capabilities of our asset manager and increasing the profitability of our international insurance businesses", said Lard Friese, CEO.

ACE Reports Second Quarter Operating Income of USD 788 Million

ACE Limited today reported net income for the quarter ended June 30, 2015, of USD 2.86 per share, compared with USD 2.28 per share for the same quarter last year. Operating income was USD 2.40 per share, compared with USD 2.42 per share for the same quarter last year. Operating return on equity for the quarter was 11.4%. The property and casualty (P&C) combined ratio for the quarter was 87.7%. Book value per share increased 0.5% from March 31, 2015, to USD 91.27.


AIG Reports Second Quarter 2015 Net Income of USD 1.8 Billion

American International Group, Inc. today reported net income attributable to AIG of USD 1.8 billion, or USD 1.32 per diluted share, for the quarter ended June 30, 2015, compared to USD 3.1 billion, or USD 2.10 per diluted share, for the second quarter of 2014. Compared to the prior-year quarter, second quarter 2015 net income attributable to AIG declined primarily due to higher loss on extinguishment of debt from ongoing liability management activities, lower capital gains from sales of investments, and a net gain on the sale of divested businesses related to the sale of International Lease Finance Corporation in the second quarter of 2014.

Aviva plc 2015 Interim Results Announcement

Mark Wilson, Group Chief Executive Officer, said: "After three years of turnaround we are now moving to a different phase of delivery. We have improved the balance sheet, simplified the Group and we are now transforming our business. The progress is evident in these results".

Hannover Re increases Group net income by around 20 percent

The first half of 2015 closed on a very pleasing note for Hannover Re. The company had generated significantly more than half of its full-year profit target after the first six months. In view of this performance, the expectation for the full 2015 financial year has been raised from the original level of EUR 875 million to a figure in the order of EUR 950 million. "Both business groups - namely Property & Casualty and Life & Health reinsurance - and also the investment portfolio played a successful part in this positive result", Chief Executive Officer Ulrich Wallin stated. "The sustained strong profitability of property and casualty reinsurance shows that with our systematically pursued policy of selective underwriting we are well placed to tackle the conditions associated with challenging market phases."

MetLife Announces Second Quarter 2015 Results

MetLife, Inc. MET, -0.47% today reported the following results for the second quarter of 2015: MetLife reported operating earnings of USD 1.8 billion, up 11 percent from the second quarter of 2014, and up 16 percent on a constant currency basis. On a per share basis, operating earnings were USD 1.56, up 12 percent over the prior year quarter. Operating earnings in the Americas grew 4 percent on a reported basis and 6 percent on a constant currency basis. Operating earnings in Asia increased 31 percent on a reported basis and were up 45 percent on a constant currency basis. Operating earnings in Europe, the Middle East and Africa (EMEA) decreased 31 percent on a reported basis and were down 7 percent on a constant currency basis.

Achmea doubles operational result to EUR 285 million

"Over the first six months of this year Achmea posted a net profit of EUR 272 million. Net profit improved as a result of lower operational expenses, higher investment results and an incidental positive result in the health insurance segment.The operational result has doubled from EUR 142 to EUR 285 million, which demonstrates that we are on the right track in terms of the underlying business. All our insurance activities contributed to the improved result. Our international business also achieved better results. Storms in the first half of this year caused considerable damages to our customers' property and impacted our result by EUR 25 million. Our financial position remains as robust as ever and our customers can count on us continuing to be a reliable financial partner in the future. Our solvency ratio for insurance entities has increased by 10 percentage points to 225% since the end of last year", said Willem van Duin, Chairman of the Executive Board.

Zurich reports business operating profit of USD 2.2 billion for the first half of 2015

Zurich Insurance Group (Zurich) today reported a business operating profit (BOP) of USD 2.2 billion and net income attributable to shareholders of 2.1 billion for the half-year ended June 30, 2015. "While the positive trend in Global Life and Farmers has continued, with these businesses delivering good results, the profitability of our General Insurance business was adversely affected by large losses, particularly within Global Corporate and the UK, and a higher expense ratio. In consequence, our business operating profit return on equity for the first half of 2015 was 11.6%", said Chief Executive Officer Martin Senn.

Willis Group Reports Second Quarter 2015 Results

Willis Group Holdings plc, the global risk advisory,  re/insurance broking, and human capital and benefits firm, today reported results for the three and six months ended June 30, 2015. Dominic Casserley, Willis Group Chief Executive Officer, commented, "We are pleased with our underlying performance with underlying net income up 21% compared to last year. We are also pleased with our organic performance, having achieved 200 basis points of positive spread. We have achieved this despite the well anticipated headwinds we faced in this quarter from timing issues and uneven market conditions."


KBC Group, 1H2015: increased profitability on the non-life insurance segment

The KBC Group reported a EUR 1.2 billion profit for the first half of 2015, of which EUR 666 million represent the second quarter's result, significantly higher than the EUR 334 million reported in Q2 2014. Both the banking and insurance franchises in the Group's core markets and core activities turned in a strong performance, stated KBC.

VIG continues to expand in the Baltics: Latvian non-life insurer Baltikums AAS acquired

Vienna Insurance Group (VIG) has signed an agreement to purchase 100% of BALTIKUMS AAS, Riga. The acquisition of the Latvian insurance company is subject to regulatory approvals.
"VIG has grown on average by around 30% per year in the past five years in the Baltic insurance market. The acquisition of BALTIKUMS AAS now gives us the opportunity to continue the prosperous path of our teams. We will take advantage of the attractive market potential and further strengthen our position", stated Peter HAGEN, CEO of Vienna Insurance Group.

SWISS Re: Global insurance industry covered 45% of the total NatCat and man-made disasters' economic losses in 1H2015

According to preliminary SIGMA estimates, total economic losses from natural catastrophes and man-made disasters reached USD 37 billion in the first half of 2015. The global insurance industry covered nearly 45% (USD 16.5 billion) of these losses, which is higher than the previous 10-year average cover of 27%. Around 18 000 people lost their lives in disaster events in H1 2015, up from more than 4 800 in the first half of last year. The earthquakes in Nepal, and a heatwave in India and Pakistan, claimed the highest number of victims.

Trust Re opens a Liaison Office in India

In a recent statement, Trust Re announced the opening of its Liaison Office in Bangalore, India. The office, which is officially referred to as Trust Re Liaison Office India, has the sole purpose of undertaking liaison activities; in other words it acts as a communication channel between the company's Head Office in Bahrain and business partners in India, including brokers and cedants.

CROATIA Osiguranje increased its stake in its BOSNIAN subsidiary to 89%

CROATIA Osiguranje announced on Zagreb Stock Exchange website it has raised its stake in its Bosnian subsidiary from 52.05% to 88.64%. Through a voluntary public bidding process, CROATIA Osiguranje purchased 11,031 shares of the Ljubuski-based insurer, which form 36.59% of the total shares issued by the issuer.

VIG in LITHUANIA: Acquisition of FINSALTAS delivers sustainable expansion in sales structure

Vienna Insurance Group company COMPENSA Life SE has strengthened one of its key distribution channels in Lithuania with the acquisition of life insurance sales specialist FINSALTAS. With around 300 insurance brokers, FINSALTAS is Lithuania's largest life insurance sales company. In 2014 the company generated some EUR 7.1 million in life insurance premiums.



TRIGLAV: The sale of CZECH non-life unit to VIGO Finance completed

Slovenian insurer TRIGLAV announced it has completed the sale of its Czech non-life unit, TRIGLAV Pojistovna, to VIGO Finance - part of the VIGO Investments Group. TRIGLAV reached an agreement with VIGO regarding the sale of its Czech subsidiary in October last year.