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SWISS Re 1H2015: USD 2.3 billion net income, on track to reach 2011-2015 financial targets
by daniela.ghetu@mxp.ro, 2015-09-03
Swiss Re reported an 11% rise in net income to USD 2.3 billion for the first half of 2015. All business segments contributed positively to this result, with Property & Casualty Reinsurance delivering net income of USD 1.3 billion for the period, while the combined ratio of 88.7% reflects disciplined underwriting and benign natural catastrophe losses.
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Earthquakes and record high temperatures made thousands of victims in 1H2015; climate change on the ICAR 2015 agenda
by daniela.ghetu@mxp.ro, 2015-09-03
Disaster events claimed many lives in the first six months of 2015. In all, around 18 000 people lost their lives. There were more than 9 000 fatalities in the earthquakes that struck Nepal in close succession in April and May, the largest loss of life due to any natural catastrophes so far this year. The quakes also left many people homeless. The economic losses in Nepal are estimated to be more than USD 5 billion. Of those, only around USD 160 million were insured losses.
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The global insurance industry paid USD 12.9 billion for losses caused by natural disasters in 1H2015; overall economic losses stood at USD 33 million
by daniela.ghetu@mxp.ro, 2015-09-03
According to preliminary sigma estimates, total economic losses from natural catastrophes and man-made disasters reached USD 37 billion in the first half of 2015. The global insurance industry covered nearly 45% (USD 16.5 billion) of these losses, which is higher than the previous 10-year average cover of 27%. Around 18 000 people lost their lives in disaster events in H1 2015, up from more than 4 800 in the first half of last year. The earthquakes in Nepal, and a heatwave in India and Pakistan, claimed the highest number of victims.
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Lower incidence of major losses pushes up MUNICH Re's profit in 1H2015 and fuels optimism for the year end results
by daniela.ghetu@mxp.ro, 2015-09-03
MUNICH Re posted a consolidated profit of EUR 1.07 million for the second quarter of 2015, 41.2% up y-o-y, while for 1H the profit amounted to EUR 1.87 billion, 9.6% up y-o-y. The below-average random incidence of major losses, as well as the very good investment result were the main drivers of the good results reported for the 2nd quarter. For the current financial year, Munich Re is now aiming for a profit of at least EUR 3 billion.
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GENERALI, 1H2015: Record high profitability and positive unwriting dynamic
by daniela.ghetu@mxp.ro, 2015-09-03
In profitability terms the GENERALI Group achieved its best performance in the last eight years in 1H2015, with the operating result going up by 11.3% y-o-y, to EUR 2.78 billion while the net profit grew by more than 21% to EUR 1.30 billion. GWP increased by 7.3% to EUR 38.2 billion, showing an upward trend in both segments. In August Fitch Rating affirmed IFS (Insurer Financial Strength) rating of Generali and its core subsidiaries to A-.
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UNIQA records earnings growth and higher premiums in first half of 2015
by mihai.cracea@mxp.ro, 2015-08-31
In the first half of 2015, UNIQA Insurance Group AG (UNIQA Group) generated a profit on ordinary activities (EBT) of EUR 190.8 million (+5.2 per cent; 1-6/2014: EUR 181.4 million). Consolidated net profit (after taxes and minority interests) amounted to EUR 156.3 million (+27.3 per cent; 1-6/2014: EUR 122.8 million).
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Are October 18th and 20th on your Baden-Baden agenda? Save the dates!
by oana.racatej@mxp.ro, 2015-09-03
The specialists participating this year at the Baden-Baden Meetings in Germany are invited to the 7th edition of XPRIMM Reception - the event organized by Media XPRIMM during the Baden-Baden Meetings - as well as the traditional AZERI and TURKISH Evenings.
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STATISTICS: HUNGARY 1H2015: motor insurance lines pushed up the non-life GWP figures
by daniela.ghetu@mxp.ro, 2015-09-03
After two years of moderate growth, the results recorded by the Hungarian insurance market in 1H2015 seem to indicate a period of relative stagnation. Thus, GWP went up by about 2% in local currency, to HUF 443.6 billion, while denominated in European currency show a slightly over zero change, once again affected by the Hungarian forint depreciation (EUR 1.4 billion).
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STATISTICS: BULGARIA 1H2015: life and motor hull insurance, the main drivers of the market's 9.5% growth
by daniela.ghetu@mxp.ro, 2015-09-03
According to data published by the FSC - Financial Supervision Commission, Bulgarian insurers recorded in 1H 2015 GWP worth EUR 500.15 million, 9.5% up y-o-y. Two were the business segments with a relevant contribution to the market's growth: life insurance which saw a record high growth in premium volume (~21%) and the motor insurance lines, the Motor Hull line in particular (almost 13% y-o-y growth in GWP).
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STATISTICS: KAZAKHSTAN, 1H2015: Three times faster growth in claims versus premiums
by olesea.adonev@mxp.ro, 2015-09-03
In the first half of 2015 gross written premiums reached KZT 151.4 billion or EUR 731.58 billion. Figures denominated in local currency show a growth rate of 4.69%, while in the European currency insurance business increased by 26.41% due to revaluation of KZT against foreign currency.
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ANALYSIS |
M&A trend in insurance: Will the new wave "splash" Serbia as well
by lela.sakovic@mxp.ro, 2015-09-03
Since the global economic crisis began to wane, economic analysts have become more loud about the new wave of mergers and acquisitions (M&A) in insurance. Through these activities which reported a considerable backlog at the global level in recent years, the insurance companies are managing to find room to place the capital in order to increase profits, but also to diversify that capital to get ready for new economic "frontal impacts".
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EVENTS |
WorldPensionSummit 2015
September 10-11, 2015
The Hague, Netherlands
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com
5th Annual Risk Management Forum
September 10-11, 2015
Vienna, Rennaisance Wien Hotel
Organizer: Global Leading Conferences
KFT
Media Partner: XPRIMM Publications
For details: www.globalleadingconferences.com
2nd Annual Insurance Business Forum
September 7-11, 2015
Sochi, Russia
Organizer: DELOVOY Format Group
Media Partner: XPRIMM Publications
For details: www.ins-df.com/ibf2015
Les Rendez-vous de Septembre 2015
September 12-17, 2015
Monte Carlo, Monaco
For details: www.rvs-monte-carlo.com
XV-Annual International Financial Forum
September 16-19, 2015
Odessa, Ukraine
Organizers: LIOU and Business
Strategy Center Perspektiva
Media Partner: XPRIMM Publications
For details: www.cbs.org.ua
LIMRA European Annual Conference Paris 2015 -
The Sharing Economy Opportunities
September 20-22, 2015
Paris, France
Organizer: LIMRA EMEA
Media Partner: XPRIMM Publications
For details: www.limra.com
17th Hydra Meeting
September 24-26, 2015
Hydra Island, Greece
Organizer: Hellenic Association
of Insurance Companies
For details: www.eaee.gr
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IAA Regional Seminar
September 28-29, 2015
Baku, Azerbaijan
Organizer: Actuarial Association
of Azerbaijan with support of the International Actuarial Association
(IAA)
Media Partner: XPRIMM Publications
For details: www.actuaries.org
12th ICAR - International CAtastrophic Risks
Forum
October 1th, 2015
HILTON Hotel - Bucharest, Romania
Organizer: Media XPRIMM
Media Partner: PRIMM Magazine
- Insurance & Pensions
20th African Reinsurance Forum
October 4-6, 2015
Hotel Movenpick Tangier, Morocco
Organizer: Societe Centrale
de Reassurance - SCR and African Insurance Organization - AIO
For details: www.aioforum2015.com
Global Summit for Insurance Innovation
October 7-8, 2015
Madrid, Spain
Organizer: INESE
Media Partner: XPRIMM Publications
For details: www.innovation.inese.es
2nd Annual Claims Management Conference
October 8-9, 2015
Ayre Hotel Caspe, Barcelona, Spain
Organizer: C-parity
Media Partner: XPRIMM Publications
For details: Download
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