News - Re/Insurance groups
TRIGLAV Group, 9M2023: strong impact of natural disasters, high inflation and price regulation of supplemental health insurance
Triglav Group’s total business reached EUR 1,39 billion while GWP increased to EUR 1,28 billion, both indicators seeing a 12% y-o-y growth in the first 9 months of 2023. The group expects business volume to reach EUR 1.6 billion and earnings before tax between EUR 100 million and EUR 120 million in 2024.
Allianz Direct partners with ING
Allianz Direct, the Allianz Group's pan-European online insurer, is entering into a partnership with ING in the Netherlands. “This partnership offers companies and entrepreneurs, from sole traders to small- and medium enterprises, access to a wide range of Allianz Direct business insurance products. These insurance policies will be available from mid-2024 through ING's digital platforms”, the German insurer informed in a statement.
Swiss Re targets an IFRS net income of more than USD 3.6 billion for 2024
Swiss Re announces new IFRS targets, including a net income of more than USD 3.6 billion for 2024 and a multi-year ROE of more than 14%, as the global reinsurer informed in a statement.
Eurohold posted Q3 net profits worth EUR 111.34 million
In January-September 2023 Bulgarian holding Eurohold reported total revenues of more than BGN 2.75 billion (EUR 1.4 billion) and profit before interests, taxes and amortization (EBITDA) at the amount of BGN 415 million (EUR 211.8 million). The net financial result exceeds BGN 218 million (EUR 111.34 million).
VIG Group is confident that it will achieve FY2023 profit before taxes of EUR 700–750 million
Austrian insurer VIG - Vienna Insurance Group informed it has increased its GWP to EUR 10.6 billion (EUR +1.1 billion or +11.4%) after the first nine months of 2023. At the same time, the Group’s solvency ratio remains very high at 303.8%.
Vienna Insurance Group sets new dividend policy
Vienna Insurance Group lets its shareholders continuously participate in its success since its initial listing on the Vienna Stock Exchange in 1994. With regard to dividend continuity and predictability VIG aims to pay in the future a dividend per share that is at least equal to that of the previous year and increases continuously depending on the operating earnings situation.
UNIQA posted 3Q2023 rise in premiums and profits
Austrian insurance group UNIQA reported January-September 2023 premium growth of 9.4% to EUR 5.5 billion and a significant increase in earnings before taxes to EUR 305 million. “Above all, property and casualty insurance and health insurance contributed to this very satisfactory growth”, as the Austrian insurer pointed out in a statement.
Talanx completes acquisition of Liberty Seguros in Brazil
The Retail International division of the Talanx Group successfully closed its acquisition of the Liberty Seguros business with retail customers and small to mid-sized enterprises in Brazil on 22 November 2023, as the German insurer informed in a statement.
Generali continued to grow profitably in the first 9M thanks to the strong increase in both operating and net results
Generali in 3Q2023 achieved continued growth in operating and net result, as well as confirmed solid capital position with Solvency Ratio at 224%, the Group said in its recent press-release.
Allianz is the top global insurance brand for the fifth year in a row
For the fifth year in a row, Allianz has been named the world’s number one insurance brand in Interbrand’s 2023 Best Global Brands ranking, as the German insurer announced in a press release.
UNIQA announced leaner Management Board structure from July 2024
Austrian insurer UNIQA informed that, as the Supervisory Board decided at its meeting on 22 November, the Management Board team, which will continue to be identical for the listed UNIQA Insurance Group AG and its subsidiary UNIQA Osterreich Versicherungen AG, will comprise seven instead of nine members in future.
VIG & Gallup International study shows low risk literacy among the CEE population and largely misconceptions regarding the protection provided by public systems
At the request of the Vienna Insurance Group (VIG), Gallup International examined risk competence in nine countries in Central and Eastern Europe (CEE). The representative study revealed clear deficits and widespread fallacies regarding financial security provided by state and social institutions.
VIG increases its share of Hungarian business from 55% to 90%
On November 21, 2023, Vienna Insurance Group (VIG) signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which are currently held by the Hungarian state holding company Corvinus. After completion of the transaction, VIG's share in the holding company will increase from 55 to 90%.
Sava reported 9 months growth in business volume and profits
Slovenian insurance group Sava reported 3Q2023 13.7% y-o-y increase in business volume to EUR 711.2 million, while the net profit increased slightly to EUR 36.5 million (3Q2022: EUR 35.0 million), “a similar level to that of the first nine months of last year, despite this year’s major claim events”.
S&P confirms UNIQA rating and expects further growth
Austrian insurance group UNIQA informed that the international rating agency Standard & Poor's (S&P) confirms UNIQA’s rating in its current report: the "A" ratings for UNIQA Osterreich Versicherungen AG and UNIQA Re AG and the "A-" rating for UNIQA Insurance Group AG, all with a stable outlook.
Hannover Re 3Q2023 net income rises by 25% to EUR 1.4 billion
German reinsurer Hannover Re informed it has generated a nine-month 2023 profit of EUR 1.4 billion and is thus confirming its Group net income target for the full year.
VIG created the CO3 Department to strengthen the collaboration within the Group
Austrian insurer VIG - Vienna Insurance Group informed is strengthening exchange between its Group companies with the newly created department “CO3” – communication, collaboration & cooperation. “The focus is on boosting cross-border know-how sharing as well as on intensifying cooperation between VIG companies located in the same country, thereby enhancing the local multi-brand strategy”.
Talanx expects rise in profits to more than EUR 1.7 billion for 2024
German insurance group Talanx informed it generated Group net income of EUR 1.28 billion in the first nine months of 2023 and has lifted its full-year earnings forecast to “significantly more than EUR 1.5 billion” on the basis of its strong operating performance.
Allianz Group, 3Q 2023: increased revenues by 4.5% to EUR 36.5 billion; full-year outlook affirmed
ALLIANZ Group’s total business volume rose by 4.7% to EUR 122.1 billion in the first nine months (9M) of 2023, driven by the P&C business, supported by the L/H business, and partially offset by the development in its Asset Management business segment.
Munich Re raises annual guidance and expects a net result of EUR 4.5 billion; quarterly result increases to nearly EUR 1.2 billion*
Munich Re recorded a net result of EUR 1,169 million in Q3 2023, slightly above the EUR 1,102 million in Q3 2022, and EUR 3,593 million in 9M, which is 14% less y-o-y. As such, closing a third consecutive quarter with a net result surpassing the pro-rata guidance, Munich Re raised its annual guidance.
6 December 2023