News - Re/Insurance groups
Allianz confirmed FY2022 operating profit outlook of EUR 13.4 billion, plus or minus EUR 1 billion
German insurer Allianz announced 1H 2022 revenue worth EUR 81.2 billion (+7.2%), operating profit worth EUR 6.7 billion (+1.2%) and net income attributable to shareholders of EUR 2.3 billion, a decrease of 52.7%, "mostly due to a provision booked in 1Q in relation to the AllianzGI U.S. Structured Alpha proceedings".
11 August 2022Hannover Re confirms FY 2022 profit guidance with sustained profitable growth in H1
German reinsurer Hannover Re is confirming its earnings guidance for 2022 after generating Group net income of EUR 649 million in the first six months (vs. EUR 671 million in H1 2021). At the same time, gross premium recorded further double-digit growth: +19.9% to EUR 17.3 billion vs. EUR 14.5 billion in H1 2021.
11 August 2022Marsh: Global commercial insurance prices increased 9% in Q2
Global commercial insurance prices increased by 9% in the second quarter of 2022 (down from an 11% increase in Q1), according to the Global Insurance Market Index released by global re/insurance broker Marsh, continuing a trend of moderating rate increases that began in Q1 2021.
9 August 2022Generali Group, 1H 2022: operating result up to EUR 3.1 billion
Generali reported continued growth in the operating result in 1H 2022, reaching EUR 3.1 billion (+4.8%), thanks to the positive performance of the Life, P&C and Holding and other businesses segments. The net result was stable, excluding Russian impairments. Capital position remained extremely solid
4 August 2022AON Q2 revenue increased by USD 97 million to almost USD 3 billion
Global re/insurance broker AON announced that its Q2 2022 total revenue increased by USD 97 million, or by 3%, to USD 2.98 billion compared to the prior year period, while total operating increased by 3% to USD 2.28 billion.
3 August 2022Croatia osiguranje's half-year profits increased by 6% y-o-y to almost EUR 30 million
In the first half of 2022, Croatia osiguranje - one of the largest re/insurance group in Adriatic Region, increased its consolidated net profit by 6% to HRK 222 million (~EUR 29.6 million), as Croatian conglomerate ADRIS Grupa announced on its website, fortifieng "its leading position on Croatian insurance market".
3 August 2022Eurohold sold Avto Union and Eurolease Group
Bulgarian financial holding Eurohold announced it signed a contract for the sale of 100% of the capital of its subsidiaries Avto Union and Eurolease Group to Asterion Bulgaria AD.
3 August 2022SCOR posted H1 net loss worth EUR 239 million following war in Ukraine, COVID-19 and NatCat losses
French reinsurer SCOR reported a net loss of EUR 239 million for the first half of 2022, of which EUR 159 million was incurred in the second quarter, driven by the conflict in Ukraine, impact of climate change and further losses related to the COVID-19 pandemic.
3 August 2022Swiss Re posted H1 net income of USD 157 million
Swiss Re reported a net income of USD 157 million and an ROE of 1.6% for the first half of 2022, compared with a net income of USD 1.0 billion and an ROE of 8.2% for the same period in 2021.
3 August 2022AXA Germany to sell a closed life and pensions portfolio
AXA announced that AXA Germany has entered into an agreement with Athora Deutschland GmbH, a licensed insurer in Germany, to sell a portfolio of EUR 16 billion of life and pensions insurance reserves in Germany.
29 July 2022Generali co-opts Stefano Marsaglia to its BoD
The Board of Directors of Assicurazioni Generali announced the co-optation of Stefano Marsaglia as a member of the Board, following the resignation of Francesco Gaetano Caltagirone.
29 July 2022MMC posted strong end-June results
Global re/insurance broker MMC (MARSH McLENNAN) reported consolidated Q2 2022 revenue worth USD 5.4 billion, an increase of 7% compared with the second quarter of 2021. On an underlying basis, revenue increased 10%. Operating income was USD 1.4 billion, an increase of 11% from the prior year.
29 July 2022NN Life & Pensions completes acquisition of the AAV life insurance subsidiary
NN Group, ABN AMRO Bank and their joint venture AAV (ABN AMRO Verzekeringen) announced that they have completed the sale of the life insurance subsidiary of AAV to NN Life & Pensions.
29 July 2022Three new Members join EIG Board
Three new members will join the Board of Directors of Bulgarian Euroins Insurance Group (EIG), the insurance subholding of Eurohold. They are Todor Danailov, Kremena Pateva and Prasun Singhal.
22 July 2022Lloyd's Europe appointed Bertrand Heugues as CUO
Lloyd's - the world's leading insurance and reinsurance marketplace, confirmed the appointment of Bertrand Heugues as Chief Underwriting Officer (CUO) of Lloyd's Europe - responsible for overseeing the strategic direction for underwriting, delegated authority management, claims and reinsurance business.
11 July 2022SCOR's CUO of IDI Jean Tuccella announces his retirement
French reinsurer SCOR announced that Jean Tuccella - Chief Underwriting Officer of Inherent Defects Insurance - has decided to retire, effective July 1st. His position will be taken over by Jaume Avella Fluvia who will stay part-time at SCOR until the end of January 2023 to ensure a smooth transition.
11 July 2022Aegon to repurchase shares to neutralize 2021 final dividend paid in shares
The Dutch insurer Aegon announced it will repurchase common shares for an amount of EUR 106 million to neutralize the dilutive effect of the 2021 final dividend paid in shares: "These shares will be held as treasury shares and will be used to pay future stock dividends in shares".
4 July 2022AXA finalized the transformation of holding company into group's internal reinsurer
AXA announced that AXA S.A., the holding company of AXA Group, has completed its previously announced transformation into AXA Group's internal reinsurer following its merger on June 30, 2022 with its captive reinsurer, AXA Global Re.
4 July 2022Chubb completes acquisition of Cigna's PA, Health and Life business in Asia-Pacific
Chubb Limited announced that it has completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna in six Asia-Pacific markets.
4 July 2022ERGO Versicherung Austria buys D.A.S. Rechtsschutz
The specialist on the Austrian legal protection market - D.A.S. Rechtsschutz AG changes ownership within ERGO Group AG, after Austrian subsidiary ERGO Versicherung AG buys the national legal protection specialist from the previous owner, ERGO Versicherung AG in Germany.
4 July 2022
