In the first six months of 2011, total revenues of AXA Group were down by 3%, to EUR 47 billion. "The decline was particularly visible in life and savings, where revenues fell by 6.6%. In the property-casualty segment, revenues grew by almost 3% thanks to price increases and our dynamic performance in both high-growth markets and direct sales", stated Denis DUVERNE, Deputy CEO, AXA Group, at the Presentation of 2011 half-year earnings.

In January-June 2011, the total underlying income from the insurance operations decreased to EUR 18.88 billion from EUR 20.54 billion in the same period of 2010. Also, the total premium income of ING Insurance decreased by EUR 483 million to EUR 14.51 billion in the first half year of 2011, from EUR 14.99 billion in the same period last year, announced the company. There were decreases of business in US (EUR 336 million), US VA business (EUR 222 million) and Benelux (EUR 177 million), and increases in Asia (EUR 190 million) and Central & Rest of Europe (EUR 61 million).

KBC Group ended the second quarter of 2011 with a consolidated net profit of EUR 333 million, compared with a net profit of EUR 821 million in the previous quarter and EUR 149 million in the year-earlier quarter. "On a cumulative basis, this means that the KBC group has generated a net profit of EUR 1.15 billion in the first half of 2011, almost double the corresponding figure for 1H/2010", according to the earnings statement published by the company.

In the first half year, the premium income of GROUPAMA amounted to EUR 8.2 billion, 3% less compared to 1H/2010. Life and health premium income amounted to EUR 3.8 billion, down by 10.1%, while property and casualty premium income came to EUR 4.4 billion, representing an increase of 4.2% in reported figures, compared to January-June 2010.

Despite the financial crisis, the TRIGLAV Group ended 1H/2011 in the black. Also, according to the unaudited interim report, profit before tax was EUR 49 million, up by 101% compared to first half of 2010, while net profit totaled EUR 34.1 million, which was 90% more than in the previous year.

The ERGO Insurance Group has sold its Portuguese subsidiaries (VICTORIA Seguros and VICTORIA Seguros de Vida) to SMABTP Group. Representatives of both companies have signed a sale agreement last week.

"Eastern Europe is very important for MUNICH Re. In our strategic plans is considered a growth region, both in direct insurance, thru our insurance company ERGO, and in the reinsurance business. We are happy that we can bring a lot of interesting products and risk management know-how in the insurance markets of this region. We also have the ambition to benefit from the significant growth and development in the region", stated Torsten JEWORREK, CEO, Reinsurance Department MUNICH Re for XPRIMM.TV Channel, in Monte Carlo.

The Austrian insurance group UNIQA intends to expand its business in Central and Eastern Europe through possible acquisitions in Bulgaria, The Czech Republic, Hungary, Russia, Serbia or The Ukraine. "We believe that these countries have huge mid-term potential for insurance growth", said Kurt SVOBODA, Member of the Board and Chief Risk Officer for UNIQA.

Losses suffered by insurance industry in the first quarter of this year exceeded the total claims suffered by the insurers for the whole year 2010 (including the catastrophe in Japan), stated MUNICH Re officials during SVR. Second quarter was much more "relaxed" in this respect, except for the U.S., where there have been several devastating storms.

Prices for reinsurance rose in 2011 for the markets affected by natural disasters, as a natural reaction of companies, according to Torsten JEWORREK, CEO, Reinsurance Department, MUNICH Re, quoted by REVIEW. Also, for other regions, prices will remain at the same level as last year, a "flattening" already having been observed, completed the quoted official. Despite this trend, "we believe that rates for catastrophe risks will increase in the near future", said Torsten JEWORREK during the Monte Carlo Meeting - Les Rendez-Vous de Septembre.

Reinsurers capital reached USD 445 billion at the end of June, according to the latest report AON BENFIELD Aggregate (ABA). According to Mike Van SLOOTEN, Director, International Markets Analysis, AON BENFIELD, "despite rising losses due to natural disasters in the last 18 months, financial stability ratings have remained, mostly, unchanged, reflecting stability of companies in terms of capital."

The ERGO Versicherungsgruppe AG Supervisory Board appointed Rolf WISWESSER to the company's Board of Management. WISWESSER will be joining the Board of Management on 1 November 2011 and will be in charge of Sales.

In the first half of 2011, the EUREKO Group achieve an increase in gross written premiums of 2%, from EUR 10.71 billion in the first half of 2010 to EUR 10.96 billion in the reporting period. "EUREKO generated good results in the first half of 2011. All business lines - Non-life, Health, Life and Banking - contributed to Group results in spite of challenging market conditions. As financial markets continue turbulent, we have proved to be resilient thanks to the low risk profile of our investment portfolio and our robust financial position", said Willem van DUIN, Chairman of the Executive Board, EUREKO.

The profit of the Austrian group UNIQA has continued to grow, especially on the Central and Eastern European Markets, reaching EUR 53 million (6.8% increase). At the same time, the entire premium volume written (recurring and single premiums) amounted to EUR 3.19 billion.

Starting 1st January 2012, ERGO Insurance Group will be establishing a new Compliance unit and has appointed Stefanie HELD as the Chief Compliance Officer (CCO). A jurist by profession, Stefanie HELD will be setting up the new unit with her own team and will be responsible for the compliance organization within ERGO Insurance Group.

Gross written premiums of insurance companies members of SOGAZ, in the first six months of 2011, totaled RUB 65.64 billion (EUR 1.57 billion), up by 19% compared to the similar period of 2010. The total volume of claims paid by the entire group has reached RUB 41.8 billion (EUR 1 billion).

Gabor LEHEL (34) is taking over leadership of the UNION Biztosito as CEO and Chairman of the Board with immediate effect. He has been a member of the Board of the Vienna Insurance Group's largest Hungarian Group company since 2008. "Gabor LEHEL brings with him many years of insurance know-how, international experience and an excellent knowledge of our Group. His appointment means that a younger, very experienced manager is taking over this important position in our core market Hungary," comments Gunter GEYER, CEO of the VIENNA Insurance Group.

"One of the most important development projects of GROUPAMA, in the near future, involves launching a direct sales insurance offer in Poland, almost certainly in early 2012", Christian COLLIN, GROUPAMA Chief Financial & Risk Officer, revealed in a recent interview published by EuroBusiness Media. The Polish project comes along with the other measures taken by the French Group in order to sustain business and organic growth, both through distribution networks and online.

In first six months of 2011, VIENNA Insurance Group (VIG) earned a total of EUR 4.7 billion premiums written, up 3,1% compared to January-June 2010. Also, the profit (before taxes) amounted to EUR 282.2 million, representing an 10.4% increase compared to 1H/2010. According to the press release, the group combined ratio after reinsurance came in at 97.1% for the first half-year of 2011, following 98.3% for 1H/2010.

GENERALI Group posted gross written premiums of EUR 12 billion on the non-life segment, which represents a 2% growth compared to 1H/2010. "This reflected the increase in the motor and non-motor segments in all business lines, with the exception of the Corporate segment, which was more greatly affected by the difficult macroeconomic situation", according to the group's press release.