The ERGO Insurance Group is selling its South Korean subsidiary ERGO Daum Direct to the AXA Group. Representatives of both companies signed a share purchase and sale agreement last week.

GENERALI PPF Holding reported significant growth in net profit in 2011, "despite the difficult macroeconomic situation across the region and demanding conditions for the insurance industry in countries where the company operates".

Based on initial estimates CEO Nikolaus von BOMHARD commented on the first quarter 2012, on April 26th, at the Annual General Meeting: "Although the picture is not yet complete, the data we have shows that the volume of major losses remained far below last year's level. At the same time, the situation in the financial markets has calmed down somewhat, at least for the moment. Altogether, the result of the first quarter is therefore likely to be gratifying. We believe that we have achieved a quarterly profit of over EUR 750 million.

SWISS Re reports very strong first-quarter net income of USD 1.1 billion in comparison to a loss of USD -665 million in the year-earlier period, announced the company last week. "This result was driven by strong underwriting, good investment performance and lower-than-expected major natural catastrophe claims in the period", companies officials say.

The ERGO Insurance Group is entering the Chinese insurance market and is launching the start-up of a joint venture with a local partner. The joint venture will primarily offer life insurance to private customers in the economically attractive province of Shandong.

For the first three months of the current year the GWP of EUROINS INSURANCE GROUP registered a 65.37% growth amounted to EUR 38.61 million compared to EUR 23.35 million for January-March 2011 according to preliminary data published by the Group.

The UNIQA Group has finalised the sale of its majority holding in the listed company MANNHEIMER AG Holding (approximately 91.7% of the share capital) to the insurance group DIE CONTINENTALE.

The Polish leading insurer, PZU announced today that PZU Group's companies have so far paid out claims for a total amount exceeding PLN 1.2 million (~EUR 290,000) related to the tragic train crash near Szczekociny, on March 3rd. PZU SA is currently handling 48 cases, while PZU Zycie, the main life insurer of the Group, has registered 43 claims reported by the victims or beneficiaries.

PZU Group ended 2011 with a PLN 15.28 billion GWP volume, 5.1% up as compared to 2010, and a PLN 2.3 billion net profit, 3.9% less than on year before, according to the Group's annual financial statement. While the significant volatility of the capital markets in 2011 impacted negatively impacted profitability, the pricing policy on the motor insurance lines - putting an end to the long lasting price war -, was one the main drivers of the premium growth. The swich to a customer centered operation model and a massive expansion in the CEE region are the main lines of the PZU's development strategy for the following three years.

SAVA Reinsurance Company recorded an after-tax profit of EUR 8,6 million for 2011, which is almost 20% more than in the prior year. Last year, the company wrote gross premiums of EUR 140,3 million, a drop of about 1,8% from 2010. Both the decrease in premium from Slovenia (in order to avoid double exposure) and the increase in foreign-sourced business are in line with Company strategy.

A Subscription Agreement and a Shareholders Agreement, worth EUR 25 million was signed yesterday between IFC, a member of the World Bank Group and TRIGLAV INT, a subsidiary of Zavarovalnica TRIGLAV through which is the international arm of the TRIGLAV Group and owns several insurance companies in the Western Balkans. As contractually agreed, IFC will gain a 16.68% equity stake of the company. "A new chapter has opened in the story that began with the incorporation of Triglav INT in 2010. After we gathered our subsidiaries in this single umbrella company, we can now, with the support of IFC, focus on the main objective of TRIGLAV INT: to become the focal point of the insurance business in the Western Balkans", stated Matjaz RAKOVEC, President of the Management Board of Zavarovalnica TRIGLAV.

Last year VIENNA Insurance Group earned consolidated premiums written of EUR 8.9 billion, which corresponds to a rise of 3.4%, reported today the company. At the same time, the profit before taxes increased by 10.1% to EUR 559.0 million, being "the best-ever result in the Group's history", VIG officials say.

At 31 December, 2011, GROUPAMA combined premium income amounted to EUR 17.2 billion. In property and casualty insurance the group posted a 4.3% growth, while in life and health insurance, the premium income declined by -7.1% due to "the contraction of the savings division, in line with the rest of the market".

The gross premium written by the Germany's third-biggest insurer TALANX, increased by 4% in 2011 compared to the previous year to EUR 23.7 billion. According to the press release, the increase was driven by all divisions with the exception of Retail Germany, which saw a drop in life insurances with single premium payments. Most appreciable, with a gain of 11%, was the growth in international retail business. In the past year TALANX was able to acquire two companies in Argentina and Uruguay and the Polish companies TU EUROPA and WARTA (both cases still subject to the usual regulatory approvals).

Residents of Central, Eastern and South Eastern Europe had to cope with a short, yet severe winter this year. Subsidiaries of GENERALI PPF Holding which operates in 14 countries in CEE, have contributed to an internal survey in order to find out what effects the extreme weather had on property and the health of people. The number of reported insurance claims increased by almost 40% within the most affected countries over the first half of February compared to a more "ordinary" winter.

JARDINE LLOYD THOMPSON Group Plc. (JLT), a global insurance broking company, is interested in expanding its activities in Croatia following the Croatian's government announcement with regard to the sale of the state-owned insurance company CROATIA OSIGURANJE, found out bloomberg.com at the British Investment Forum held in Zagreb.

Total underwritings of GENERALI Group in the CEE region amounted EUR 3.94 billion in 2011, accordind to the figures presented on March 20th by Group's officials. The CEE business weights 5.7% on GENERALI's consolidated portfolio, of EUR 69.16 billion. As compared to 2010, the CEE premium production registered a better dynamic in 2011 (-2%) than the Group's consolidated GWP which was of -5.5%. Operating result for the CEE region was of EUR 503 million, 20% higher than in 2010.

The first targets in PZU's expansion strategy were recently revealed by a press release of PZU Lietuva, the Lithuanian subsidiary of the Polish market leader: PZU wants to enter Latvia and Estonia in the second half of 2012. According to PZU Lietuva CEO, Marius JUNDULAS, "expanding in the Baltics is a natural move for PZU". Considering the strong position of PZU Lietuva on the Lithuanian market and the fact that many of its big clients are extending their business towards Latvia and Estonia, "it is only natural to offer them, in these countries, the same reliable services as in Lithuania".

"Despite the financial crisis, the TRIGLAV Group delivered excellent performance in 2011 and earned EUR 58 million of profit before tax, mainly owing to effective corporate governance and good results in the core insurance business. Almost EUR 60 million of profit is an excellent result, especially against the backdrop of conditions on capital markets which adversely affected the value of investments" stated Matja? RAKOVEC, President of the Management Board of Zavarovalnica TRIGLAV, on the occasion of reporting with regard to the 2011 results of the Slovene group.

In 2011, the Bulgarian insurance group EUROINS reports gross written premiums at the amount of BGN 232.9 million (EUR 119 million), which is at the level of 2010 when the same indicator were BGN 233.5 million. "The trend of growth in non-motor lines compared to 2010 continues during the period: property and accident grow with 90% and 29% respectively. Written premiums in Casco and cargo fall by 32% and 28% respectively as a result of the stagnating economy in all countries of operation", EUROINS officials say.