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.
Aegon reports increase in earnings, sales and cash flows for the second quarter of 2015
"We are pleased with the high level of sales as we continue to secure
new distribution agreements", said Alex Wynaendts Aegon CEO.
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."
SCOR delivers a strong performance for the first half of 2015 with a net income of EUR 327 million, up 28% from H1 2014
SCOR delivers strong half year results, thanks to the rigorous
implementation of its strategic plan "Optimal Dynamics" and the
profitable development of its franchise driven by both its Life and
P&C business engines. SCOR is on track to achieve the targets set
out in its plan.
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.
"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.
VIDEO: SKALA Reinsurance Brokers, Russia: There are huge military risks without any coverage and it creates a tension with our insurance companies
In the context of the recent political and economic changes on the Russian market, re/insurance companies feel that in the last couple of years a period of stagnation took hold of the market, especially taking into account the level of inflation and economic situation of the country.
CROATIA Osiguranje sale questioned by opposition in the Croatian Parliament
One year after its completion, the CROATIA Osiguranje's privatization may be subjected to a parliamentary investigation, following the main opposition party's allegations on the privatization procedures and financial terms.
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.
18 August 2015