News - Re/Insurance groups
Munich Re Q1 2022 profit improved to EUR 608 million
Global reinsurer Munich Re reported Q1 2022 profit of EUR 608 million (vs. EUR 589 million in Q1 2021), while gross premiums written increased substantially by 15.7% year on year to EUR 16.83 billion (EUR 14.55 billion), "supported by strong organic growth across all segments, especially in property-casualty reinsurance".
18 May 2022VIG reports strong business growth in Q1 2022
Austrian insurer Vienna Insurance Group posted Q1 2022 premium volume worth EUR 3.45 billion, up by 11.2% y-o-y or by EUR 348 million in absolute values. The insurer mentioned there has been premium growth across all business lines and segments, the largest increases being reported in MTPL (+18.8%), other property and casualty insurance (+15.2%) and health insurance (+11.6%).
18 May 2022Green light for AXA S.A. as Group' s internal reinsurer
French insurance Group AXA announced that AXA S.A., the holding company of AXA Group, has obtained its reinsurance license from the Autorite de Controle Prudentiel et de Resolution (ACPR - the French Prudential Supervision and Resolution Authority), according to the previously announced transformation of AXA SA into AXA Group' s internal reinsurer
17 May 2022Beazley and Chubb are the global market leaders as premiums in cyber insurance
Beazley, Chubb, Munich Re, Fairfax Financial Holdings and AXA - were in 2021 according to Insuramore - the top 5 largest worldwide insurer groups' as GDPW (gross direct premiums written) from cyber insurance, and accounted together for more than 60% of global cyber insurance market estimated at USD 8.61 billion.
17 May 2022Achmea takes over the pension company of ABN AMRO
Achmea and ABN AMRO have reached agreement on Achmea's takeover of ABN AMRO Pensioeninstelling NV.
9 May 2022Blanca BERRUGUETE joined AGCS as new Global Industry Solution Director for Construction
Since May 1 2022, Blanca BERRUGUETE took over the role Global Industry Solution Director for Construction at Allianz Global Corporate & Specialty (AGCS). She joins AGCS from Zurich Insurance, and will be based in Madrid, reporting to Global Head of Distribution Jeremy SHARPE.
9 May 2022Fabio CLEVA appointed Head of Investor and Rating Agency Relations
Italian group Generali announces the appointment of Fabio CLEVA as Head of Investor and Rating Agency Relations, directly reporting to the Group CFO, Cristiano BOREAN.
9 May 2022Generali becomes the majority shareholder in its Indian non-life joint venture
Italian insurer Generali informed it completed the acquisition from Future Enterprises Limited of 25% of the shares of Future Generali India Insurance (FGII) and will now hold a stake of around 74% in FGII.
9 May 2022Karin BOS to be the new chair of Achmea's Non-life division
Achmea has appointed Karin BOS as chair of the Non-life division from 9 May 2022. She has been Director P&C Insurance Retail in the division since 2016. Karin BOS succeeds Michiel DELFOS, who recently joined Achmea's Executive Board.
9 May 2022Sanlam and Allianz join forces to create African insurance giant
Sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world's leading insurers and asset managers with a century of history in Africa, have agreed to combine their current and future operations across Africa to create the largest Pan-African non-banking financial services entity on the continent
9 May 2022SCOR posted net loss of EUR 80 million in Q1 2022
French reinsurer SCOR reported Net loss of EUR 80 million in Q1 2022, compared with EUR 45 million net income in Q1 2021, while the value of gross written premiums of EUR 4.72 billion in Q1 2022, was up by 9.7% compared with Q1 2021.
9 May 2022Supervisory Board of Allianz SE newly elected
At the Annual General Meeting of Allianz SE held a last week, a new Supervisory Board was elected as scheduled. Rashmy Chatterjee, Chairwoman of the Board of Management of ISTARI Global Ltd, London, was elected to the Supervisory Board for the first time, while Sophie BOISSARD, Christine BOSSE, Michael DIEKMANN, Friedrich EICHINER and Herbert HAINER were re-elected.
9 May 2022Swiss Re posts Q1 net loss of USD 248 million
Reinsurer Swiss Re reported a net loss of USD 248 million for the first quarter of 2022, compared with a net income of USD 333 million for the same period last year.
9 May 2022Talanx posted double-digit growth rate in Q1 GWP
German insurance group Talanx posted Q1 2022 GWP worth EUR 15.9 billion, up by 16.5% y-o-y. Operating profit (EBIT) rose to EUR 630 million (vs. EUR 625 million), while group net income was EUR 256 million (vs. EUR 277 million) due to a higher tax burden and was attributable in almost equal measure to the primary insurance (47%) and reinsurance (53%) areas.
9 May 2022Zurich: The Group had outstanding operational performance and disciplined capital management in 2021
Zurich Insurance Group (Zurich) demonstrates excellent financial health - in 2021 maintained a strong financial position and excellent balance sheet, according to its recently published Financial Condition Report 2021.
5 May 2022Gallagher Re: Robust premium growth continued through Q4
Gallagher Re has published its latest assessment of global (re)insurers' financial health, which summarizes key themes emerging from global (re)insurers' results for full-year 2021.
5 May 2022Hannover Re Q1 2022 net income fell by 13.8% to EUR 264 million
Hannover Re posted a quarterly profit of EUR 264 million in the first three months and confirms its full-year earnings guidance, as the German re/insurer announced in a statement.
5 May 2022Antoine GOSSET-GRAINVILLE is appointed Chairman of AXA and Thomas BUBERL is renewed as CEO
At the Annual Shareholders' Meeting, Thomas BUBERL was reappointed by the shareholders as a member of the Board of Directors for a four-year term. It is worth mention, AXA's shareholders approved all the resolutions submitted to them by the Board of Directors.
2 May 2022AON Q1 2022 revenue increased to USD 3.7 bn
Global re/insurance brokerage company AON reported Q1 2022 total revenue worth USD 3.67 billion, an increase of USD 145 million or 4% more y-o-y, while total operating expenses increased 1% y-o-y to USD 2.3 billion, of which USD 1.76 billion - related to compensation and benefits. At the same time, operating income increased 10% to USD 1.36 billion from USD 1.24 billion at the end of March 2021.
2 May 2022Croatia Osiguranje posted Q1 2022 net profit of EUR 17.7 million
Croatian conglomerate ADRIS Grupa with business in tourism, food production and insurance (Croatia Osiguranje) reported Q1 2022 total revenue of HRK 1.19 billion (EUR 157 million), up 11% year-on-year. Revenue from the sales of goods and services was up 16% year-on-year, to HRK 1.11 billion (EUR 147 million). Consolidated profit before interest, taxes and amortization (EBITDA) was up 4%, to HRK 173 million (EUR 22.8 million). Net profit in Q1 2022 was up 14% year-on-year, to HRK 12.2 million (EUR 1.6 million).
2 May 2022
