Following this year's regular revision, S&P Global Ratings reaffirmed the "A" Financial Strength Rating with a stable medium-term outlook of the Triglav Group and thereby of its parent company Zavarovalnica Triglav and the Group member Pozavarovalnica Triglav Re.
Zurich Insurance Group has appointed Dirk De Nil, currently CEO Zurich Benelux and Nordics, to the role of Global Head of Zurich Resilience Solutions, effective October 1, 2023.
Sanlam, Africa’s largest non-banking financial services provider, and Allianz, one of the world’s leading insurers and financial services providers announced that they have received regulatory approvals for the joint venture that will create the leading Pan-African non-banking financial services company with a presence in 27 countries in Africa. The joint venture will operate as SanlamAllianz. Heinie Werth, the current CEO of Sanlam Emerging Markets, has been appointed as the CEO of SanlamAllianz.
Generali Group CEO Philippe Donnet was named "Best CEO" for the second consecutive year in the insurance sector in the 2023 edition of the All-Europe Executive Team annual ranking by Institutional Investor, the specialist magazine and independent research company in the field of international finance.
Lloyd’s re/insurance marketplace reported H1 2023 underwriting profit of GBP 2.5 billion vs GBP 1.2 billion a year before, an investment return of GBP 1.8 billion (vs. GBP 3.1 billion loss) and a profit before tax of GBP 3.9 billion compared with loss of GBP 1.8 billion in H1 2022.
AIG announced that Lucy Fato will transition from her current role as Executive Vice President, General Counsel & Global Head of Communications and Government Affairs to Vice Chair at AIG, effective October 1, 2023.
Reinsurance broker Guy Carpenter part of Marsh McLennan announced the appointment of Julian Enoizi as CEO of Guy Carpenter Europe effective immediately. Julian Enoizi will be based in Europe and report to Laurent Rousseau, CEO of Guy Carpenter Europe, Middle East and Africa, and Global Capital Solutions. In this role Julian Enoizi will be responsible for leading Guy Carpenter’s broking operations across its European offices.
Chubb announced the appointment of George N. Nikolaou as head of Chubb Business Services EMEA in Thessaloniki, Greece. “In this role, Nikolaou will be responsible for the Chubb technology center launched in late 2022, which will support the development of innovative technologies that enhance the customer experience, increase efficiency, and accelerate the company's digital transformation”.
In H1 2023, the Triglav Group's total business volume rose to EUR 955.4 million and its tax before profit amounted to EUR 10.5 million. This year's unexpected price cap on supplemental health insurance in Slovenia resulted in a high loss of EUR 30.9 million in the health insurance segment in the first half of 2023, which had a significant impact on the Group's half-year result.
Sava Re expects the costs of the unprecedented storms and floods that hit Slovenia and the Balkans in July and August to reach EUR 100 million. The negative impact on the 2023 result is estimated at EUR 30 million to EUR 35 million. For 1H 2023 business volume up by 11.7% to EUR 495.1 million, while net profit was of EUR 40.0 million.
Following its regular annual rating review, the rating agency S&P Global Ratings (the Agency) affirmed the “A” (strong) insurer financial strength rating on Sava Re and Zavarovalnica Sava. The outlook is stable.
Austrian VIG - Vienna Insurance Group reports strong results for the first half of 2023, presented for the first time in accordance with the IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts accounting standards.
Bulgarian energy and financial group Eurohold Bulgaria AD announced that during January-June it booked Total revenues increased to nearly BGN 2.13 billion (EUR 1.09 billion) while ЕBITDA grew to BGN 378 million (EUR 193 million).
The insurance market of Central and Eastern Europe (CEE) totaled EUR 12.5 billion at the end of Q1 2023, according to the data centralized by xprimm, up by 10.2% y-o-y. The value of paid non-life claims and life indemnities increased by 2.3% y-o-y to EUR 6.5 billion.
Austrian insurer UNIQA informed that during H1 2023 its premiums written rose by 7.9% to EUR 3,707.3 million vs. EUR 3,436.0 million a year before. “Above all, property and casualty insurance and health insurance contributed to this very pleasing growth”.
Slovene re/insurance group SAVA informed that its management board estimates that the profit for 2023 will be approximately 25% lower than planned, or around EUR 40 million, due to the impact of the storms and floods.
Martijn Hoogeweegen, currently Head of NN Life & Pension Services, will be appointed CEO of NN Belgium as of 1 September, subject to regulatory approval.
Süha ÇELE joined Eureko Sigorta in 1999 and has been Chief Operating Officer with corporate sales responsibility and member of the Executive Board for the past ten years. He has also several responsibilities in the market, and he is a board member of the motor bureau and the agricultural pool.
Global reinsurer Swiss Re reported a net income of USD 1.4 billion and a return on equity (ROE) of 22.8% for the first half of the year, compared with a net income of USD 157 million and an ROE of 1.6% for the same period in 2022. Swiss Re representatives informed
the company maintains its guidance for full-year targets.
Munich Re generated a profit of EUR 1,154 million (vs. EUR 1,585 million) in the second quarter of 2023, and EUR 2,425 million (vs. EUR 3,066 million) in the first six months of the year.