Austrian VIG - Vienna Insurance Group reports strong results for the first half of 2023, presented for the first time in accordance with the IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts accounting standards.

Bulgarian energy and financial group Eurohold Bulgaria AD announced that during January-June it booked Total revenues increased to nearly BGN 2.13 billion (EUR 1.09 billion) while ЕBITDA grew to BGN 378 million (EUR 193 million).

The insurance market of Central and Eastern Europe (CEE) totaled EUR 12.5 billion at the end of Q1 2023, according to the data centralized by xprimm, up by 10.2% y-o-y. The value of paid non-life claims and life indemnities increased by 2.3% y-o-y to EUR 6.5 billion.

Austrian insurer UNIQA informed that during H1 2023 its premiums written rose by 7.9% to EUR 3,707.3 million vs. EUR 3,436.0 million a year before. “Above all, property and casualty insurance and health insurance contributed to this very pleasing growth”.

Slovene re/insurance group SAVA informed that its management board estimates that the profit for 2023 will be approximately 25% lower than planned, or around EUR 40 million, due to the impact of the storms and floods. 

Martijn Hoogeweegen, currently Head of NN Life & Pension Services, will be appointed CEO of NN Belgium as of 1 September, subject to regulatory approval.

Süha ÇELE joined Eureko Sigorta in 1999 and has been Chief Operating Officer with corporate sales responsibility and member of the Executive Board for the past ten years. He has also several responsibilities in the market, and he is a board member of the motor bureau and the agricultural pool.

Global reinsurer Swiss Re reported a net income of USD 1.4 billion and a return on equity (ROE) of 22.8% for the first half of the year, compared with a net income of USD 157 million and an ROE of 1.6% for the same period in 2022. Swiss Re representatives informed the company maintains its guidance for full-year targets.

Munich Re generated a profit of EUR 1,154 million (vs. EUR 1,585 million) in the second quarter of 2023, and EUR 2,425 million (vs. EUR 3,066 million) in the first six months of the year.

Subject to substantial interest rate and market volatilities and in view of the current ongoing weather extremes, Vienna Insurance Group expects a profit before taxes for the Group in a range of EUR 700 - 750 million for the full-year 2023 under IFRS 17/9, as the Austrian insurer informed in a statement.

Allianz Global Corporate & Specialty SE (AGCS), the corporate insurer of Allianz Group, part of Allianz Commercial, reported HY 2023 total gross premium written of EUR 6.583 billion, 10% more y-o-y.

The Talanx Group generated a record Group net income of EUR 827 million in the first half of 2023 and is confident of exceeding its FY Group net income target of EUR 1,400 million, as the German insurer informed in a statement.

After 24 years with Munich Re Group, Clemens Muth, currently Chief Underwriting Officer at ERGO Group, has decided to leave the company at the end of 2023 with the expiry of his current contract to pursue other personal interests. Edward Ler, currently Executive Vice President and Head of Southeast Asia region at Chubb Asia Pacific in Singapore, has been appointed as his successor as of 1st January 2024.

Italian group Generali reported gross written premiums worth EUR 42.2 billion in H1 2023, which is by 3.6% more y-o-y, mainly driven by significant P&C growth (+10.6%). The net result improved to EUR 2,243 million, from EUR 864 million 1H2022.

Fitch Ratings has affirmed ‘B+’ Insurer Financial Strength Rating with stable outlook to Insurance Company Euroins AD (Euroins Bulgaria), the largest subsidiary of Euroins Insurance Group AD (ЕIG), part of Еurohold Bulgaria AD. The same rating has been affirmed to the reinsurance company of the group - EIG Re AD.

MARSH McLENNAN (MMC) reported Q2 2023 revenue of USD 5.9 billion, an increase of 9% compared with the second quarter of 2022. Operating income was USD 1.5 billion, an increase of 7% from a year ago. Net income attributable to the Company was USD 1.0 billion, or USD 2.07 per diluted share, compared with USD 1.91 in the second quarter of 2022.

Global re/insurance broker Aon reported Q2 2023 total revenue worth USD 3.17 billion, up by 7% y-o-y, while total operating expenses increased by 2% to USD 2.3 billion.

Croatian conglomerate ADRIS Grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region) informed that, in the first half of 2023 it recorded EUR 435 million in total revenue, which is a growth of 13%.

Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions confirmed that Peter Spires has decided to step down as General Counsel to pursue fresh challenges in the Lloyd’s market.

Teodora Petkova, who has been leading starting May 2021 UniCredit's business in Eastern Europe for two years - with direct responsibility for Bosnia and Herzegovina, Bulgaria, Croatia, Romania and Serbia, and joint responsibility for Russia, will now also be responsible for the group's banks in Central Europe.