News - Re/Insurance groups

UNIQA reported increasing business during 3Q2022

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).

Christos Adamantiadis is the new CEO for Continental Europe at Marsh

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, Q3 2022: strong results after 9M, full-year operating profit to reach the upper half of the target range of EUR 13.4 billion

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.

Zurich, Q3 2022: robust premium increases across the Group which continues to be on track to exceed its strategic and financial targets for the 2020-2022 cycle

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.

Zaffino to head AIG through 2027

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.

ADRIS Grupa posted end-September growth of revenue and profit

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.

AGCS reported 9 months increasing premiums and profits

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.

Talanx confirmed its FY outlook for Group net income for EUR 1,050-1,150 million range

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.

VIG applies for listing on the Budapest Stock Exchange

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.

CROATIA osiguranje Group posted 3Q2022 net profits worth EUR 42.7 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.

AON posted flat revenue during Q3

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.

MMC 9 months revenue rises to USD 15.7 billion

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.