MetLife views the countries of the CEE region as "long-term strategic growth markets for the enterprise" and intends to continue "to strengthen its existing strong positions and expand both through organic and inorganic growth", recently stated Eric CLURFAIN, Head of Central Europe and EMEA at MetLife.

In 2011, GENERALI Group recorded gross premiums written of EUR 69.2 billion, 5.5% down compared to 2010, according to preliminary figures published by the insurance group. "In an extremely difficult environment in Europe, and in Italy in particular, GENERALI has demonstrated its ability to achieve significant production results, with strong growth in the Non-Life segment and a Life premium income that confirms our position as a leader in Europe", said Giovanni PERISSINOTTO, CEO, GENERALI Group.

Jan VANHEVEL, President of the Executive Committee and CEO of the KBC group, has expressed his desire to retire from KBC, with effect from the annual general meeting of 3 May 2012. He will be succeeded by Johan THIJS, currently CEO of KBC's Belgium Business Unit. The appointment of the new CEO is, subject to the approval of the Belgian financial regulator, announced the group.

Starting March 1st, 2012, CEA, the European insurance and reinsurance federation, is changing its name to INSURANCE EUROPE. "Today we are unveiling a fresh, new image that reflects the dynamism and importance of the industry we represent", declared Sergio BALBINOT, President of INSURANCE EUROPE.

 

In 2011, ALLIANZ Group reported strong results in Central and Eastern Europe "despite the ongoing financial crisis and a still volatile economic environment". Total premiums remained at EUR 3.8 billion, while operating profit increased by 158% to EUR 295 million.

Reinsurance Group SWISS Re reports strong net income of USD 2.6 billion for the full-year 2011 "despite an exceptional natural catastrophe burden", announced the company.

In 2011 ALLIANZ Group recorded total revenues of EUR 103.6 billion, down 2.7% compared to 2010 (EUR 106.5 billion). At the same time, net income for 2011 was EUR 2.8 billion, compared to EUR 5.2 billion the year before. "The decline of 46.2% was mainly due to very conservative non-operating impairments of EUR 1.9 billion from Greek sovereign debt and investments, particularly in financials", announced the group. The 2011 operating profit amounted to EUR 7.9 billion. Compared to the 2010 operating profit of EUR 8.2 billion, this is a decrease of 4.6% "in the target range of EUR 8.0 billion, plus/minus EUR 0.5 billion".

Former SWISS Re CEO, Stefan LIPPE will return to the insurance industry and he will join the Board of Directors of French insurer AXA in two months. AXA announced that it will hold a shareholder vote on new LIPPE's position on April 25 in Paris.

SAVA Re Group plans to collect more than EUR 340 million of gross written premiums annually by 2016. "The Group net combined ratio will be around 95%", show the company's plans for 2012 and its strategy for the next 5-year period.

In 2011, net income of AXA Group was up 49% to EUR 4.32 billion. "FY10 net income included EUR -1,64 billion exceptional loss related to the partial sale of the UK Life operations, while FY11 net income included EUR -943 million goodwill reduction attributable to US Accumulator Variable Annuity book of business following the fall in US long term interest rates as well as the reduction in lapses, and EUR +2.33 billion exceptional realized gains related to the sale of Australian and New Zealand operations, Canadian operations and the stake in TAIKANG Life", announced the group.

In 4Q 2011, the operating result of ING Insurance was EUR 478 million, up 20.4% from the fourth quarter of 2010 due to a higher investment margin, lower administrative expenses and lower interest costs. Compared with the third quarter of 2011, the operating result declined 9.3%, mainly due to lower fees and premium-based revenues and slightly higher administrative expenses.

AEGON's underlying earnings before tax amounted to EUR 346 million in the fourth quarter of 2011, a 4% lower figure than in 4Q2010. On the New Markets segment, underlying earnings of the Dutch group registered a 10% decline, mostly because of the unfavorable currency trends in Hungary and Poland, two of its main markets in Central & Eastern Europe. On the other hand, favorable claim experience in the non-life business was offset by the impact of pension legislation changes in Hungary and Poland.

WILLIS Group reported net income for the year ended December 31, 2011 of USD 218 million, representing a decrease of 52%, compared to 2010. The company recorded a pre-tax charge of approximately USD 180 million, USD 20 million more, related to the previously announced operational review. "The full year charge increased from the previously estimated USD 160 million primarily due to increased head count and facility consolidation in response to the continued economic pressures globally", announced the group.

Russian insurance company INGOSSTRAKH has sold the portfolio of its Finnish subsidiary (IngoNord), to DARAG Deutsche Versicherungs- und Ruckversicherungs-AG (Germany), announced the group last week. The price of the transaction was not disclosed.

KBC Group ended the last three months of 2011 with a net profit of EUR 437 million, compared with a net loss of EUR 1,579 million in the previous quarter and a net profit of EUR 724 million in the corresponding quarter of 2010, the company announced in a press release. As a result, net profit came to EUR 13 million for full-year 2011, compared to EUR 1,860 million a year earlier. "The 'underlying' net result for the quarter under review came to EUR 161 million, well up on the net loss of EUR 248 million in 3Q 2011 and almost on a par with the EUR 168 million in 4Q 2010", reported the group.

Life insurance products linked to investment funds (usually known as Unit-Linked life insurance) seem to be more and more popular in the CEE region. According to the 3Q2011 data available, the y-o-y nominal growth rate calculated in Euro for this line of life insurance products was of 11.73%, showing a significantly better dynamic than the entire life insurance segment which recorded a slightly negative trend. Calculations made by xprimm.com in local currency demonstrate the same trend, only "translated" in positive figures, as UL insurance GWP grew by about 18.5%, while the entire life insurance segment recorded some 4.3% growth. As a result, UL life insurance line represents now a roughly 40% share of the entire CEE life market.

"Commercial insurance comparison websites have gained increased significance over the past few years. These websites are an increasingly used means of communication or distribution channel that enhance comparability of information for consumers. Therefore, they have helped to stimulate more competition between insurers and intermediaries" says the most recent report released by the European Insurance and Occupational Pensions Authority, "EIOPA's Initial Overview of Key Consumer Trends in the EU".

MUNICH Re's preliminary figures show a profit of EUR 0.71 billion for 2011, down 70% on the EUR 2.4 billion profit it made in 2010 due to "a series of severe earthquakes and many weather-related catastrophes", reported this week the reinsurance group. Thus Munich Re estimates its claims costs from the earthquakes in Japan and New Zealand at around EUR 1.5 billion for each event.

UNIQA Group Austria reported today the preliminary data for 2011. The insurer said that the core operational business developed solidly in 2011, especially on the recurring premiums written segment, despite of a difficult economic environment. At the same time the company?s results are massively burdened by Greek bonds write down. As previously the Group announced, "the result for 2011 includes one-time burdens caused by the Group's repositioning in the amount of around EUR 190 million, as well as a net burden in the amount of EUR 346 million, due to the write down on Greek government bonds. These pushed profit on ordinary activities to around minus EUR 330 million".

ACE Limited this week reported net income for 2011, of USD 1.59 billion, 49% less compared to 2010, despite an increase in premiums of 7% to USD 20.8 billion.