Slovenian re/insurance Group SAVA announced it has generated a net profit of EUR 46.5 million in the first nine months of 2022, reaching 77.5% of its annual target.
Austrian insurance group UNIQA generated premiums worth EUR 5.03 billion (+4.3% y-o-y) in 9M2022, due to increases recorded in all business lines: property and casualty insurance grew by 5.5% (to EUR 2.83 billion), health insurance by 4.9% (to EUR 963.6 million) and life insurance by 1.2% (to EUR 1.23 billion).
Despite the major geopolitical and economic challenges, Vienna Insurance Group (VIG) 3Q 2022 results improved y-o-y. The Group expects year-end GWP worth at least EUR 12 billion and profit before taxes that surpasses the previous year's figure of EUR 511 million.
Christos Adamantiadis was appointed CEO, Continental Europe at Marsh, the world's leading insurance broker and risk advisor, effective 1 January 2023. Mr. Adamantiadis will be based in Zurich and report to Flavio Piccolomini, President of Marsh's International Division.
Allianz SE's operating profit in 3Q rose by 7.4% to EUR 3.5 billion, driven by the Property-Casualty segment. Total revenues increased by 1.3% to EUR 34.8 billion, net income - by 16.7% to EUR 2.5 billion. After 9M2022 total revenues reached EUR 116 billion, operating profit - EUR 10.2 billion, while net income decreased by 31.5% to EUR 4.7 billion mainly due to a provision booked in 1Q.
Generali's GWP increased to EUR 59.8 billion (+1.3%), driven by growth in P&C (+10.3%), led by the non-motor line. Life premiums contracted (-2.9%), to EUR 7.7 billion, driven by the unit-linked and protection lines. Operating result continued to rise to EUR 4.8 billion (+7.8%), thanks to the positive
Zurich's Property & Casualty (P&C) GWP rose 8%, with growth of 13% on a like-for-like basis. Life new business annual premium equivalent up 2% on a like-for-like basis, with margin at an attractive level of 26.5%. Capital position is very strong with Swiss Solvency Test ratio estimated at 252% as of September 30, 2022, the group's press release said.
American International Group (AIG) announced that AIG and Peter Zaffino, President & Chief Executive Officer and Chairman of the Board, have entered into an agreement securing Zaffino's employment through November 10, 2027.
In the first nine months of 2022, Croatian conglomerate ADRIS Grupa, with business in tourism, food production and insurance (Croatia Osiguranje) - posted total revenue worth HRK 5.2 billion (~EUR 0.7 billion), up by 15% compared to the same reporting period last year.
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group reported January-September 2022 GWP worth EUR 8.486 billion, up by EUR 1.06 billion or by 14% y-o-y.
German insurance group Talanx is on track to meet its annual targets after the end-September result The insurer's representatives pointed out in a statement that the growths registered in premium income and net income in the first nine months of the year compensates for high losses from natural disasters and the reserves booked for potential losses arising from Russia's war of aggression against Ukraine.
Munich Re achieved a profit of EUR 1,903 million in the first three quarters of 2022, by 7.6% lower y-o-y, high major-loss expenditure in property-casualty reinsurance and strong performance in life and health business being the major impact factors, as well as a robust increase in reinvestment yield.
Austrian VIG informed it has applied for listing of its shares on the Budapest Stock Exchange. The shares of VIG (ISIN AT0000908504) have been listed on the Vienna Stock Exchange since 1994 and on the Prague Stock Exchange since 2008.
Generali's Portuguese entity Tranquilidade has entered into a long-term distribution agreement established with CTT Group (the Portuguese postal services group) for the distribution of Life and P&C policies through the CTT Group network (post office network, as well as its bank, Banco CTT).
AIG - American International Group - announced that the Board of Directors has elected Paola Bergamaschi as a director of the company, effective December 1, 2022.
AXA's gross revenues went up by 2% on a comparable basis, to EUR 78.4 billion in 9M 2022. In P&C Commercial lines, insurance revenues increased by 6% to EUR 24.4 billion. Estimated claims from Hurricane Ian of EUR 0.4 billion, gross of tax and net of reinsurance.
Hannover Re considers its earnings guidance for the 2022 financial year still achievable despite the 3Qs significant natural catastrophe expenditures that pushed up the combined ratio to 99.2%. Gross premium grew by 21%, while the group's operating profit rose by 3.7%, to EUR 1,328 million.
CROATIA osiguranje Group - one of the largest insurers in Adriatic region with operations in Croatia, Bosnia-Herzegovina, North Macedonia, Serbia and Slovenia, posted January-September 2022 consolidated net profit of HRK 321.6 million (~EUR 42.7 million), which represents an increase of 0.8% compared to the comparative period of the previous year.
Global re/insurance broker AON announced that its Q3 2022 total revenue was flat at USD 2.7 billion compared to the prior year period, while net income increased to USD 408 million compared to a net loss of USD-900 million in the prior year period.
Global re/insurance broker MMC posted Q3 2022 aggregate revenue of USD 4.8 billion, an increase of 4% compared with the third quarter of 2021. Q3 operating income was USD 791 million, an increase of 7% from the prior year.