The first half of 2014 cam with a consistent bill for Europe, following an outbreak of severe weather: winter storms, heavy rains and thunderstorms during the spring etc. caused a high damage all over Europe, amounting to more than USD 10.8 billion in economic losses, according to the June 2014 AON Benfield's June Cat Report. About 53% of the losses were recorded in Western Europe, although in terms of human victims, the Central and Eastern Europe was hit much stronger.

NG announces today that, in consultation with NN Group, it has increased the number of existing ordinary shares offered in the Initial Public Offering (IPO) of NN Group to 77 million, up from 70 million offer shares previously announced. The decision to increase the offer size is due to significant investor demand. ING expects to announce the offer price for the offer shares to be sold in the offering later today, after the close of trading on the New York Stock Exchange.

Since the appointments of all ten members of the Supervisory Board expired, the Annual General Meeting elected a new Vienna Insurance Group Supervisory Board. Maria Kubitschek, Rudolf Ertl, Georg Riedl and Gunter Geyer were elected to the Supervisory Board for the first time.

Listed insurer VIG is considering delisting from the Warsaw Stock Exchange, should it decide to merge with the Vienna bourse, CEO Peter Hagen told news agency Reuters in an interview.

Listed insurer VIG, one of defunct lender Hypo creditors affected by some EUR 1.7 billion haircut passed by Austria on Wednesday, will thoroughly look into the draft act on the haircut and follow further legislative steps.

For the first three months of 2014, the Austrian VIENNA Insurance Group reported gross written premiums of EUR 2.7 billion, 1% more y-o-y. "When adjusted for exchange rate effects, the increase rises further to 2.9%", VIG noted in a statement.

The Dutch financial group ING confirmed the intention to proceed with the Initial Public Offering (IPO) and listing on Euronext Amsterdam of the NN Group - the European insurance and investment management group arm. "The IPO will comprise the existing ordinary shares in the NN Group, currently wholly owned by ING," ING said in a statement.

In the first quarter 2014 the SAVA Re Group generated a net profit of EUR 7.5 million or 3.2 less y-o-y, but "which is 31.4% of the planned profit for the full year 2014," noted the Slovenian group in a statement.

For the first quarter of 2014, the TRIGLAV Group booked a net profit of EUR 25.6 million - which is a 12% increase compared to 1Q2013, while the value of gross written premiums decreased 1% to EUR 256.1 million. Zavarovalnica TRIGLAV - the parent entity of the group - recorded a net profit of EUR 19.1 million (4% less y-o-y), while from insurance and co-insurance contracts the company accounts for EUR 180 million.

At the end of May, VIENNA Insurance Group (VIG) confirmed in a statement that it had purchased 100% of the shares of the life insurer SKANDIA Zycie (member of OLD MUTUAL Group), with the transaction concluded after the granting of regulatory approvals. At the same time, on June 3rd the Austrian group announced that the takeover of 100% of the shares of the life insurer AXA Biztosito is concluded after the granting of regulatory approval. Following a transition period, the company will be renamed VIENNA Life Vienna Insurance Group Biztosito.

GPH (the GENERALI's CEE holding company) has reached an agreement for the acquisition by the Serbian DELTA Group of the minority interests held by the partner in DELTA GENERALI Osiguranje. The minority buyout of shares has already been approved by the National Bank of Serbia.

The Austrian insurer UNIQA announced first-quarter group earnings before tax decreased by 30.3% to EUR 81.4 million, but rose by a fifth excluding a gain of EUR 49.1 million a year ago from selling hotel assets, the company noted in a press release.

At today's session, the Supervisory Board of Zavarovalnica Triglav was informed of business results of the parent company and the Triglav Group for the first three months of 2014. In addition, the Supervisory Board of the leading Slovene insurer took note of the resignation of Stanislav Vrtunski, member of the Management Board. Upon the draft resolution of the President of the Management Board, the Supervisory Board appointed Uro

The largest Dutch financial-services company is seeking to value its European insurance unit NN Group NV at as much as EUR 8 billion in a transaction that may raise as much as EUR 2 bn, according to three people with knowledge of the matter. The IPO may be announced as early as next week, said the people, who asked not to be named as the details are not public, Bloomberg reported.

Rating agency A.M. Best has raised the Issuer Credit Rating of Talanx AG to "a-" with stable outlook from "bbb+" with positive outlook on May 16, 2014. At the same time, the debt ratings for bonds issued by Talanx Finanz S. A. were increased from "bbb" to "bbb+". The Financial Strength Rating of "A" with stable outlook has been confirmed for the rated Talanx primary insurance companies.

German insurer Talanx's net profit fell 7 percent as expected in the first quarter, hit by slightly lower premiums compared with a year-earlier quarter that also saw a strong capital gain. Gross written premiums fell 1 percent to 8.4 billion in the quarter, but Talanx said this was mainly due to currency declines in its main foreign markets of Brazil, Mexico and Turkey. Talanx also confirmed its 2014 financial targets.

The French insurance group AXA reported for January-March 2014, a 1% y-o-y decline in revenue on lower sales at the life and savings division and as the euro strengthened. Total revenue decreased to EUR 28.5 billion from EUR 28.9 billion in 2013.

A profit increase by 10%, equivalent to almost EUR 6 million (PLN 25 million), a substantial increase in the sales of key products lines and EUR 94.9 million in GWP - this is how the EUROPA Group can summarize 1Q2014.

The net income reported by CROATIA Osiguranje Group for 1Q2014 amounted to HRK 785.3 million (~EUR 102.5 million), 0.7% less y-o-y, the total expenditures totaled HRK 757.2 million or EUR 98.9 million (3% more y-o-y), while the net profit amounted to HRK 22.8 million (EUR 3.0 million).

MUNICH Re has reported a profit of EUR 924 million for the first quarter of the year, down from EUR 970 million in the same period of 2013. Regarding the annual target, MUNICH Re said "for the current financial year as a whole, MUNICH Re is continuing to aim for a profit of EUR 3 billion".