News - Re/Insurance groups
TRIGLAV, FY2014: Preliminary figures show a 23% y-o-y increase in the Group's net profit, despite the unfavourable business conditions
The TRIGLAV Group ended 2014 with a net profit of EUR 85.7 million or 23% more than in 2013 and as much as 31% above the budgeted level. Net profit of Zavarovalnica TRIGLAV as the parent company amounted to EUR 45.6 million, which represents a 6% decrease compared to the preceding year. Return on equity of the parent company and that of TRIGLAV Group in 2014 was 8.7% and 13.4% respectively.
JLT Group posted higher profit and revenues in 2014
The London-based global provider of insurance and reinsurance solutions JLT Group (Jardine Lloyd Thompson Group) posted revenues of GBP 1.1 billion for the full year 2014 (vs. GBP 974.6 million in 2013). At the same time, the profit before tax was GBP 183 million (vs. GBP 177.4 million a year before).
ALLIANZ, FY 2014: 85 million customers chose the German group's products pushig up revenues to a historical peak
The total number of customers insured by ALLIANZ increased in 2014 by 2 million, to 85 million. In revenues terms, last year brought to the German Group a 10.4% growth, to EUR 122.25 billion, reaching a historical peak. "Geopolitical tensions, continued market volatility and a further decline in interest rates in 2014 led to lower global economic growth than expected," said Michael DIEKMANN, CEO of ALLIANZ SE. "Despite these challenges, ALLIANZ achieved very good results in revenues, operating profit and net income."
GUY CARPENTER: Global insured catastrophe losses lowest for five years
Despite intense snowstorms in Japan, severe hail and windstorms in
Europe, major flooding in parts of the UK and several aviation
tragedies, global insured losses for 2014 were the lowest for five
years, at roughly $33 billion, according to Guy Carpenter & Company,
LLC.
RSA Group back to profits in 2014
RSA Group reported its full-year 2014 results recently, highlighting a pre-tax profit of GBP 275 million, compared with a GBP 244 million loss in 2013. Stephen Hester, the Group's Chief Executive Officer (CEO) commented; "RSA is much better positioned than before to make continued good progress. We are determined to do just that in 2015 and beyond."
In 2014, AXA's earnings crossed the EUR 5 billion mark for the first time
Last year, the French insurance group AXA reported 3% y-o-y higher revenues, to EUR 92 billion, and IFRS underlying earnings of EUR 5.1 billion (up 8%) "driven by the growth on all business lines", the insurer said in a press release.
AXA to acquire 7% of Africa Re, the leading reinsurer in Africa
AXA announced today that it has entered into an agreement to acquire a
7.15% stake in African Reinsurance Corporation ("Africa Re"), the
leading reinsurance company in Africa. Under the terms of the agreement,
the total cash consideration payable at closing would amount to USD 61
million (or Euro 53 million).
GROUPAMA posted a EUR 257 million full-year profit and a strong improvement in operating income
The French insurer GROUPAMA reported a net profit of EUR 257 million in 2014, or 26% less y-o-y, a solid solvency margin of 253%, up 53% compared with 2013 and an improvement of the combined ratio in non-life insurance to 99.0% (-1.8%). At the same time, GROUPAMA reported a strong improvement in operating income to EUR 129 million, compared with EUR 10 million a year earlier.
EIG to acquire TALANX subsidiary companies in Bulgaria and Ukraine
German insurer TALANX has sold its subsidiaries in Bulgaria and Ukraine to Sofia-based EUROINS Insurance Group (EIG) "at a price in the middle single-digit million euro range", as the German insurer noted in a press release. The deal is subject to customary regulatory approvals from both Bulgarian and German authorities and is expected to close in the second quarter of 2015.
AEGON reports higher earnings and sales for Q4 2014
"Aegon's strong fourth quarter results complete a solid year for the
company, in what continues to be a challenging environment with
persistent low interest rates and market volatility. Higher sales and
earnings this quarter evidence the strength of our franchise and the
continued trust of our customers", said Alex Wynaendts, CEO.
KBC Group: Last quarter continues profitable trend. 2014 profit at 1.8 billion euros.
KBC ended 2014 with a net profit of 1 762 million euros, compared with 1
015 million euros in 2013. In the last quarter of 2014, KBC posted a
net profit of 457 million euros, compared with 591 million euros in the
previous quarter and -294 million euros in the last quarter of 2013.
VIG plans bond issue and buyback of existing securities
Provided the market terms are beneficial, listed insurance company
Vienna Insurance Group (VIG) intends to issue subordinated bonds, under a
EUR 400 million (USD 452.89 million) subordinates notes program, the
company announced on Wednesday. At the same time the company is going to
carry out the buyback of already issued securities.
AIG reports fourth quarter 2014 net income of USD 655 million and diluted earnings per share of USD 0.46
American International Group, Inc. (NYSE:AIG) today reported net income
attributable to AIG of USD 655 million, or USD 0.46 per diluted share,
for the quarter ended December 31, 2014, compared to USD 2.0 billion, or
USD 1.34 per diluted share, for the fourth quarter of 2013. Full year
2014 net income attributable to AIG was USD 7.5 billion, or USD 5.20 per
diluted share, compared with USD 9.1 billion, or USD 6.13 per diluted
share, for full year 2013. Reported net income included an after-tax
loss on extinguishment of debt of USD 824 million, or USD 0.58 per
diluted share, associated with liability management activities during
the fourth quarter of 2014.
HANNOVER Re broadly satisfied with outcome of 1 January treaty renewals
Hannover Re is largely satisfied with the outcome of the treaty renewals
as at 1 January 2015 in light of the challenging business environment,
even though the rate quality of the renewed portfolio fell short of the
previous year. "The price decline in many markets was significant
compared to the previous year. Thanks to our good rating and
long-standing customer relationships we nevertheless achieved a rather
pleasing outcome. Despite our systematic selective underwriting policy
we were able to keep our portfolio stable", Ulrich Wallin, Chief
Executive Officer of Hannover Re, explained. German and US business held
up especially well in this renewal season.
Metlife announces fourth quarter and full year 2014 results
MetLife reported operating earnings of USD 1.6 billion, up 2 percent
over the fourth quarter of 2013. On a per share basis, operating
earnings were USD 1.38, up 1 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 3 percent on a reported basis and 9 percent on a constant
currency basis. Operating earnings in Europe, the Middle East and Africa
(EMEA) decreased 4 percent on a reported basis but increased 9 percent
on a constant currency basis.
ZURICH reports business operating profit of USD 4.6 billion for 2014 and proposes dividend of CHF 17
Zurich Insurance Group (Zurich) today reported a business operating
profit (BOP) of USD 4.6 billion and net income attributable to
shareholders (NIAS) of USD 3.9 billion for the year ended December 31,
2014.
January 2015 Renewals: SCOR Global P&C delivers premium growth of 2.4%, while maintaining expected profitability
At the 1 January 2015 renewals, SCOR Global P&C delivers gross
written premium growth of 2.4% at constant exchange rates to EUR 2.8
billion, while maintaining expected technical profitability quasi stable
compared to January 2014.
NN Group rebrands its businesses
After the successful Initial Public Offering of NN Group on 2 July 2014,
which represented the final step in becoming a standalone company apart
from ING Group, the businesses of NN Group will be rebranded in line
with the NN brand identity. The new branding will further shape the
profile of NN as an international insurance and investment management
company, offering retirement services, insurance, investments and
banking to more than 15 million customers.
NN Group posts strong 4Q14 and 2014 results
"The full-year results, with a net result of EUR 588 million, demonstrate
the progress we have made so far in achieving our objectives to
generate capital and improve earnings, while delivering excellent
service and products to our customers", said Lard Friese, CEO, NN Group.
MMC posts double-digit growth in operating income for the seventh consecutive year
MARSH & MCLENNAN Companies (MMC) reported for the fourth quarter 2014 consolidated revenue of USD 3.2 billion, representing an increase of 4% compared with Q4 2013, while the operating income rose 10% to USD 536 million, compared with USD 489 million in the prior year period. For the full year 2014, the net income increased to USD 2.3 billion (vs. USD 2.1 billion in 2013), while the consolidated revenue was USD 13 billion, or 6% more y-o-y.
5 March 2015