Consolidated insurance revenues of Croatia osiguranje, including regional branches, amounted to EUR 476 million in 2023, which is 11% more y-o-y. The company, part of the Adris Group, achieved a consolidated net profit before minority interests in the amount of EUR 58.5 million.
Munich Re posted a profit of EUR 4.59 billion for the 2023 financial year – slightly higher even than the revised profit target of EUR 4.5 billion announced in October 2023, up from the initial figure of EUR 4.0 billion. Insurance revenue from insurance contracts issued rose y-o-y to EUR 57.88 billion.
Allianz Group’s total business volume rose by 5.5% to EUR 161.7 billion in 2023, while the operating profit increased by 6.7% to EUR 14.7 billion. For 2024, the group targets an operating profit of about EUR 14.8 billion.
The Dutch insurer Aegon announced the completion of the sale of its 56% stake in its joint venture in India, Aegon Life Insurance Company, to Bandhan Financial Holdings Limited, an Indian financial services company.
In 2023, ERGO paid out in the Baltic States EUR 216 million. Of these, EUR 59 million were paid to Latvian customers, EUR 102 million in Lithuania, and EUR 54 million in Estonia, the Latvian Insurers Association
Global broker WTW reported FY2023 revenue worth USD 9.48 billion, an increase of 7% as compared to USD 8.87 billion for the prior year. For the year 2024, the company expects to deliver revenue of USD 9.9 billion or greater.
Generali and TCC-Trieste Convention Center announce the agreement to name the largest multifunctional convention center overlooking the sea in the entire north-east of Italy as the Generali Convention Center Trieste.
German insurer ERGO Group AG – with business in many CEESE markets such as Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Poland - has been recognized as one of the most attractive employers on its “home market” - Germany for the second time in a row by the international consulting institute "Top Employers Institute".
Leading specialty insurer Tokio Marine Kiln (TMK) announced the appointment of Matthew SHAW as CEO with effect from 1 April, subject to regulatory approval. SHAW will succeed Brad Irick who is taking up the position of co-head of international business for Tokio Marine Holdings, which is the parent company of Tokio Marine Group, to drive its international growth ambitions.
Swiss Re increased net income to USD 3.2 billion in 2023, with a net income of USD 748 million in Q4 and delivered a return on equity (ROE) of 22.3% for the full year. For 2024, the Group targets a net income of more than USD 3.6 billion under IFRS.
The German insurance group Talanx informed that based on its consolidated unaudited figures, it is expecting Group net income of EUR 1.58 billion. “This clearly surpasses the original annual target of approximately EUR 1.4 billion”.
Lloyd’s has announced it will partner with Sherbro Alliance Partners (SAP) to support economic resilience and growth opportunities on Sherbro Island, Sierra Leone, as part of a landmark sustainable development initiative that aims to put nature and renewable energy at the centre.
Global commercial insurance rates increased by 2% in the fourth quarter of 2023 (down from a 3% increase in Q3), according to the Global Insurance Market Index
released by the global insurance broker Marsh, a business of Marsh McLennan. “The fourth quarter marks the 25th consecutive quarter of rate increases”, as the insurance broker informed in a statement.
Insurance premium collections by the Euroins Ukraine, a subsidiary of European insurance company Euroins Insurance Group (EIG), increased by 20.4% y-o-y, to UAH 564.909 million in 2023, Ukrainian media said, citing the Euroins Ukraine management's interim report published in the information system of Ukraine's National Securities and Stock Market Commission.
After a successful one-year pilot project, UNIQA Insurance Group AG will become a permanent member of the Eurapco Alliance in 2024, the Austrian group announced in a press release.
Zurich Insurance Group announced that it has been informed that Viridium Group will not complete the purchase of Zurich Life Legacy in Germany as planned.
Italian insurer Generali announced that it has completed the acquisition of Liberty Seguros, a Spanish insurance company operating in Spain, Portugal, Ireland and Northern Ireland, from Liberty Mutual. The agreement for the transaction was announced on 15 June 2023, being the “Generali’s largest deal in a decade”, as the insurer informed in a statement.
Global re/insurance broker Aon reported FY2023 total revenue USD 13.4 billion, +7% compared to the prior year, while the net income attributable to Aon shareholders decreased to USD 2,564 million, or USD 12.51 per share, compared to USD 2,589 million / USD 12.14 per share, in the prior year.
VIG Re, the reinsurance company of Vienna Insurance Group, is pleased to announce that Tobias SONNDORFER has been appointed as the Vice-Chairman of the Board of Directors with effect of February 1, 2024.
Dr. Günter Geyer announced that he will no longer be available as Chairman of the Supervisory Board of Vienna Insurance Group (VIG) at the end of his current mandate.