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MUNICH Re's outlook for 2017: business environment remains challenging
by Daniela GHETU, 2017-03-16
"For the financial year 2017, MUNICH Re is aiming for a profit in the range of EUR 2.0-2.4 billion in what is set to be a challenging environment," Chairman of the Board of Management, Nikolaus von BOMHARD said on the group's outlook for 2017.
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Global non-life insurance market will surpass USD 2.7 trillion by 2020
by Vlad BOLDIJAR, 2017-03-16
The global non-life insurance market has experienced strong growth in recent years, registering a compound annual growth rate (CAGR) of 5.4% between 2011 and 2015 to reach a value of USD 2.03 trillion, according to data from research company MarketLine.
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PZU Group, 2016: record high growth, GWP exceeding the PLN 20 billion threshold
by Daniela GHETU, 2017-03-16
PZU Group has ended 2016 with GWP of PLN 20,219 million, 10.1% up y-o-y. The largest sales growth rate was recorded in motor insurance, which reported 34.4% y-o-y growth to PLN 7,050 million. At the same time, the administrative expense ratio (for the Group's Polish insurance companies) edged down by 0.7 p.p. y-o-y to 8.1%.The Group has also successfully expanded its insurance market share and strengthened its position in the banking sector.
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SAVA Re Group, FY2016: Profit before tax of EUR 40.7 million, 1.4% up y-o-y
by Daniela GHETU, 2017-03-16
The Slovenian SAVA Re Group closed the year 2016 with a profit before tax of EUR 40.7 million, an 1.4% y-o-y improvement, mainly due to the underwriting result of international reinsurance business. The after-tax profit was EUR 32.9 million, which is 1.3% below the y-o-y figure because of tax effects. The Group also reached a major goal by merging all its EU-based insurers.
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STATISTICS: Russia FY2016: Strong growth in GWP supported by traditional lines of business
by Daniela GHETU, 2017-03-16
The Russian insurance market grew by 15.3% in GWP terms, in 2016, supported by traditional lines of business development. Life insurance and bancassurance distribution, as well as liability insurance for damage to third parties, property insurance, personal insurance and insurance of financial risks recorded the best results. At the same time a significant drop was seen in insurance of hazardous production objects due to decrease of tariffs.
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STATISTICS: UPDATE: Greece, FY2016: 4.6% y-o-y increase in the overall premium income
by Daniela GHETU, 2017-03-16
According to a recent press release of the Hellenic Association of Insurance Companies (HAIC), the Greek insurance market saw a 4.6% y-o-y increase in the overall premium income in 2016, to EUR 3.78 billion. The result takes into consideration the 56 insurance undertakings HAIC members, representing approximately 97.1% of total premium income.
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Swiss Re's business and EVM reports for 2016 published, shoeing a solid performance
by Daniela GHETU, 2017-03-16
Swiss Re's 2016 Annual Report - "For a resilient future"
-, consisting of the Business Report and the Financial Report,
including audited financial statements for 2016 was published, showing a
continued solid underwriting performance and profitability.
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German residential insurers' business result positive for the first time in 15 years
by Daniela GHETU, 2017-03-16
For the first time since 2001, in 2016 there has been a slight gain in residential property insurance in Germany, says a recent statement of GDV - the German Insurers' Association. The company's combined ratio last year was 97% (previous year: 101.4%), according to current industry figures. GWP for residential insurance amounted to EUR 6.8 billion while paid benefits were worth EUR 4.7 billion.
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GENERALI posts best yearly profit and dividend in 9 years
by Vlad BOLDIJAR, 2017-03-16
The Italian insurer GENERALI announced it closed the year 2016 with an
operating result of EUR 4.83 billion, up by 0.9% y-o-y, while the net
profit increased by 2.5% y-o-y to EUR 2.08 billion. At the same time,
the dividend per share to be proposed at the next Shareholders' Meeting
is EUR 0.80, up by 11.1%. The total dividend relating to shares
outstanding amounts to EUR 1.24 billion, thus the payout ratio increased
from 55.3% in 2015 to 60%.
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FITCH: Italy Life Sector Outlook Negative on Wider Gov't Spreads
by Daniela GHETU, 2017-03-15
Fitch Ratings has changed, on 14 March 2017, its sector outlook for the Italian life insurance market to negative from stable, as wider spreads on Italian sovereign debt may weaken insurers' capitalisation and business retention. Domestic government debt accounts for around half of the investments of Italian insurers. Fitch's rating Outlooks for most Italian life insurers remain Stable.
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USA: Satisfaction with property insurance claims surges, even as number of catastrophes reaches 10-year high
by Daniela GHETU, 2017-03-15
Overall customer satisfaction among homeowners filing property insurance
claims has reached a new all-time high, according to the J.D. Power 2017 U.S. Property Claims Satisfaction Study,SM
released on March 1st. This surge in insurance customer satisfaction
corresponds with a 10-year high in catastrophic events, which are
typically associated with lower satisfaction scores.
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Join financial experts from all over the world at the Market Developments within Direct Lending Conference
by Adina TUDOR, 2017-03-10
As banks withdraw from direct-lending, which has been traditionally viewed as a high-risk but high-yield asset, fund managers have begun to fill the void in the market with a particular focus on SMEs. In recent years regulators have also acknowledged the importance and value of having funds who specifically deal with direct lending, and so legislation has been altered to not only make it easier for funds to distribute loans, but also actively encouraged by European governments.
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Key points of digital transformation, analyzed at the Global Summit for Insurance Innovation
by Adina TUDOR, 2017-03-10
Digital transformation is dramatically changing industries like insurance which, thanks to the emergence of new IT companies, are adapting their product lines to the demands of new client, digital natives, who are more demanding and better informed. Such new firms, known collectively as Insurtech, are adding new ingredients to the insurance companies' value chain by means of disruptive proposals.
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13-14 April 2017, Almaty, Kazakhstan
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12 July 2017, Saint Petersburg, Russian Federation
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