News - Re/Insurance groups

AGCS strengthens its market-facing leadership team

Allianz Global Corporate & Specialty (AGCS) - the corporate insurance carrier of ALLIANZ Group announced is strengthening its leadership team "to support the company's 'pivot to growth', following its successful remediation program. It is attracting both internal talent as well as high-profile external hires to executive positions in its regional management, underwriting and risk consulting functions, all in market-facing roles".

Allianz announced its 2022-24 targets

The German insurer Allianz announced it set its financial bar higher for the between 2022 and 2024, targeting 5-7% annual growth in earnings per share (EPS) and minimum 13% return-on-equity (RoE). "Three levers will drive this ambition: steady topline growth, improvement in profitability, and efficient management of capital", as the insurer' representatives mentioned in a statement.

Talanx places its first Green Bond with a volume of EUR 500 m

Talanx has issued its first Green Bond as a subordinated bond with a volume of EUR 500 million, primarily to institutional investors from Germany and abroad. Overall, the book was significantly oversubscribed. The bond denominated in euros has a fixed coupon of 1.75 percent and the first date for repayment is 1 June 2032. 

ERGO and Santander Germany conclude partnership

German insurer ERGO and Santander Consumer Bank, Germany's fifth-largest credit institution, have agreed on a new partnership. In the first half of the coming year, the two companies will optimize their product offering for their customers as part of a strategic partnership.

Former CEO of Lloyd's of London to join WTW BoD

Re/insurance broker Willis Towers Watson (WTW) announced that it has selected Inga BEALE, Fumbi CHIMA, Michael HAMMOND, and Michelle SWANBACK to join its Board of Directors.

SAVA Re: Nine-month profit of EUR 57.2 m exceeds full-year profit target

In the first nine months of 2021, the Sava Insurance Group generated EUR 548.8 million in operating revenue and a net profit of EUR 57.2 million vs. EUR 46.7 million a year before. The Sava Insurance Group's operating revenue and net profit represented 80% and 108%, respectively, of the full-year 2021 targets, thus company representatives believes that the estimated profit for 2021 published after the close of the half year will be exceeded.

UNIQA expects YE gross profit between EUR 330 million and EUR 350 million

Austrian insurance Group UNIQA reported 9 months 2021 GWP worth EUR 4.83 billion, 18% more y-o-y - - as a result of the first-time consolidation of the former AXA companies in CEE, and earnings before taxes of EUR 298.7 million, 39.7% more vs. September 2020 (EUR 213.8 million).

VIG, 3M2021: top results exceeding the pre-crisis figures of 2019

Vienna Insurance Group's results for 9M2021 have improved significantly y-o-y, exceeding the pre-crisis figures (2019). Net profit went up by approx. 54% and earnings per share increase to EUR 2.86. Premium volume increases 5.1% to EUR 8.4 billion. Combined ratio improves 0.9 percentage points to 95.2%.