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".

VIG 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%).

Green 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

Karin 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.

Sanlam 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

SCOR 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.

Supervisory 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.

Talanx 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.

AON 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.

Croatia 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).