News - Re/Insurance groups

TRIGLAV - 2012 Advertiser of the Year in Slovenia

For the second time in a row, Zavarovalnica TRIGLAV won the traditional 'Advertiser of the Year' award presented by the Slovenian Advertiser Association (SAA). One of the key pleas put forward by the jury was innovation in reaching target groups and the use of media, as well as the contribution to the development of the advertising profession and adherence to codes of professional self-regulation. The company will receive the award on Friday in Portoroz, at the closing ceremony of the 22nd Slovene Advertising Festival.

Retail International Division improved all TALANX's key indicators in FY2012

The gross premiums written by the Germany's third biggest insurer TALANX increased by 13% in 2012 compared with the previous year, up to EUR 26.7 billion. Net premiums earned also rose by 13 percent to EUR 22.0 billion, while the Group net income went up by 22% y-o-y, to EUR 630 million.

VIG adapts segment reporting by regions

On 3 April 2013 Vienna Insurance Group (VIG) will publish the result and embedded value for the financial year 2012. As a service for analysts, institutional investors and journalists, the Group informs in advance on modifications of its format for segment reporting by regions.



PZU 2012: Net profit up by 38.8%

The net profit of the PZU Group (according to IFRS) in 2012 amounted to EUR 795.6 million, 38.8% up y-o-y, while ROE's indicator value was of 24.0%, 5.7 p.p. higher than in 2011. Gross written premiums from direct and indirect insurance for 2012 amounted to EUR 3.97 billion (PLN 16,243.1 million), 6.3% up y-o-y in national currency. The increase in GWP resulted from the growth in sales, especially of life insurance products (+10.4%).

SCOR's premiums jumped by 25% in 2012

The French reinsurer SCOR reported a net income of EUR 418 million during the FY2012, up by 26.7% y-o-y, while the gross written premiums increased by 25.2% to EUR 9.51 billion over 2011, helped by a strong property & casualty reinsurance business and by the successful integration of the TRANSAMERICA Re business.

TRIGLAV 2012: 55% increase in profit despite the poor economic environment of Slovenia

Both TRIGLAV Group, as a whole, and Zavarovalnica TRIGLAV, the Group's main company, posted higher profits for 2012 than for 2011. While TRIGLAV Group earned EUR 89.7 million in profit before tax (55% more y-o-y), Zavarovalnica TRIGLAV reported a EUR 65.6 million gross profit (21% up y-o-y). GWP from insurance and co-insurance contracts of the TRIGLAV Group in 2012 amounted to EUR 936.3 million, of which EUR 647.6 million represent the premium production reported by Zavarovalnica TRIGLAV. The combined ratio improved over2011, up to 81.4% in Zavarovalnica TRIGLAV and to 89.6%, at the Group's level.

UNIQA Group returned to profit in 2012

According to the FY 2012 preliminary results, the Austrian insurance group UNIQA recorded earnings before taxes of EUR 205.4 million, "marking a return to profitability after a loss due to significant non-recurring effects in the previous year (EUR -322.3 million in 2011)", while the consolidated profit (after taxes and minority interests) amounted to EUR 130.2 million (EUR -245.6 million in 2011).

P&C Reinsurance boosted SWISS Re's net profit by 61% to USD 4.2 billion

SWISS Re reported that its net profit increased by 61% in 2012 to USD 4.2 billion, driven by very strong profitability in Property and Casualty Reinsurance and an excellent investment result. Premiums earned and fee income increased by 15%, to USD 25.4 billion, while the Group's combined ratio was 83.1%, "significantly better than the projected 94% for 2012. This includes the unchanged USD 900 million claims estimate from Hurricane Sandy, as communicated at the end of November 2012".

MetLife FY2012 net income drops 80%

MetLife, the biggest U.S. life insurer, reported for the full year 2012 operating earnings of USD 5.7 billion or USD 5.28 per share, up by 22% over 2011. According to the group's press release, "the increase reflects a growth of 24% in the operating earnings in the Americas, 18% in Asia and 8% in EMEA - Europe, Middle East and Africa". At the same time, the net income totaled USD 1.2 billion, 80% less y-o-y, while premiums, fees and other revenues increased by 5%, to USD 47.8 billion.

Lower net income, but higher revenues for AXA in 2012

The French insurer AXA reported for the financial year 2012 a 1% y-o-y lower net income, down to EUR 4.15 billion, from EUR 4.19 billion the year before, a period that had been boosted by 1.4 billion in exceptional gains. On a comparable basis the net income was down by 4%.

Hurricane Sandy pushed the AIG 4Q2012 figures in red

AMERICAN International Group - AIG reported a net loss of USD 4.0 billion for the fourth quarter 2012 (USD 21.5 billion in the prior year quarter). For the full year 2012, the net income totaled USD 3.4 billion (USD 20.6 billion in 2011), due to taking a USD 2 billion charge on Hurricane Sandy and a USD 4.4 billion loss on the sale of discontinued operations.

GROUPAMA posts EUR 589 million full-year loss

The French insurer GROUPAMA reported a net loss of EUR 589 million in 2012 (compared with EUR -1.76 billion in 2011), "resulting from the accounting effect of disposal and restructuring operations decided on by the group and completed in 2012 in order to strengthen its balance sheet," showed the group's press release.

ALLIANZ: Constant profitability level in CEE, despite the weak economic development across the region

EUR 3.7 billion in revenues and EUR 296 million operating profit: these are the main coordinates of the ALLIANZ results for 2012 in Central and Eastern Europe, where the German insurer in active on the markets of Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Slovakia and Ukraine. The 2012 results are in line with those of the previous year and with the Group's expectations, "especially considering the slow growth and the economic dependency of CEE on Western Europe," as Manuel BAUER, Member of the Board of Management of ALLIANZ SE commented.

AEGON announced rising profits and focus on CEE

Dutch life insurance and pension company AEGON NV reported a gain in its fourth-quarter net profit. AEGON's quarterly net profit surged to EUR 422 million, from EUR 81 million, in 4Q2011. At the same time, total sales increased substantially to EUR 1.8 billion. The underlying earnings before tax increased by 29% in 4Q2012, up to EUR 447 million, while the operating expenses decreased by 3%, to EUR 848 million. "Our solid fourth quarter performance, both in terms of sales and earnings, is a result of the steps we have taken to transform our business," declared Alex WYNAENDTS, CEO, AEGON NV.

ING Group to cut 2,400 jobs in Europe by the end of 2015

The Dutch financial services company ING Group reported increasing profit in the fourth quarter due to larger gains from asset sales and it is planning to cut 2,400 jobs in Belgium and the Netherlands over the next two years.

KBC Group posts strong FY2012 net profit

The Belgian-owned KBC Group reported a total net profit of EUR 612 million for the financial year 2012, compared with EUR 13 million a year earlier. The annual underlying net profit was EUR 1.54 billion, significantly better than in 2011, when it totaled EUR 1.09 billion.

MARSH & MCLENNAN FY2012: Net income up 18% y-o-y to USD 1.17 billion

MARSH & MCLENNAN Companies reported for the fourth quarter 2012 a net income of USD 259 million, representing a 1.2% increase y-o-y. For the full year 2012, the same indicator was USD 1.17 billion, up by 18.4%, from USD 993 million reported for the FY2011.The consolidated revenue in 4Q2012 stood at USD 3 billion, representing an increase of 3.2% as compared with 4Q2011. For the FY2012, the total revenue was USD 11.92 billion, up by 3.5% y-o-y.