News - Re/Insurance groups
Nina KLINGSPOR appointed as the new CEO of Central Europe for Allianz Group
Nina Klingspor was appointed as the new CEO of Central Europe for Allianz Group, taking over from Petros Papanikolaou who will be appointed as the new CEO of Allianz Global Corporate & Specialty SE (AGCS), with additional responsibility for leading Allianz Commercial globally. Both changes are effective as of January 1, 2024, subject to approval by the relevant corporate bodies.
13 December 2023Generali: AM Best confirms the FSR rating of "A" (Excellent). Outlook stable
AM Best has confirmed Generali's Financial Strength Rating (FSR) of "A" (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a+". The outlook is stable, as the Italian insurer announced in a statement.
12 December 2023Fitch has affirmed ‘B+’ with stable outlook to Euroins Bulgaria
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), as well as to EIG Re AD, the reinsurance company of the group, as the Bulgarian holding Eurohold – the owner of Euroins, announced in a statement.
12 December 2023VIG Re raises EUR 150 million additional equity for growth an digital transformation
VIG Re, the reinsurance company of Vienna Insurance Group, announced the increase of its registered capital by the amount of EUR 100,000,000 in 2023 and the authorization of VIG Re’s Board of Directors to increase the registered capital by additional EUR 50,000,000 in the following two years.
12 December 2023TRIGLAV Group, 9M2023: strong impact of natural disasters, high inflation and price regulation of supplemental health insurance
Triglav Group’s total business reached EUR 1,39 billion while GWP increased to EUR 1,28 billion, both indicators seeing a 12% y-o-y growth in the first 9 months of 2023. The group expects business volume to reach EUR 1.6 billion and earnings before tax between EUR 100 million and EUR 120 million in 2024.
6 December 2023Allianz Direct partners with ING
Allianz Direct, the Allianz Group's pan-European online insurer, is entering into a partnership with ING in the Netherlands. “This partnership offers companies and entrepreneurs, from sole traders to small- and medium enterprises, access to a wide range of Allianz Direct business insurance products. These insurance policies will be available from mid-2024 through ING's digital platforms”, the German insurer informed in a statement.
5 December 2023Swiss Re targets an IFRS net income of more than USD 3.6 billion for 2024
Swiss Re announces new IFRS targets, including a net income of more than USD 3.6 billion for 2024 and a multi-year ROE of more than 14%, as the global reinsurer informed in a statement.
5 December 2023Eurohold posted Q3 net profits worth EUR 111.34 million
In January-September 2023 Bulgarian holding Eurohold reported total revenues of more than BGN 2.75 billion (EUR 1.4 billion) and profit before interests, taxes and amortization (EBITDA) at the amount of BGN 415 million (EUR 211.8 million). The net financial result exceeds BGN 218 million (EUR 111.34 million).
5 December 2023VIG Group is confident that it will achieve FY2023 profit before taxes of EUR 700–750 million
Austrian insurer VIG - Vienna Insurance Group informed it has increased its GWP to EUR 10.6 billion (EUR +1.1 billion or +11.4%) after the first nine months of 2023. At the same time, the Group’s solvency ratio remains very high at 303.8%.
5 December 2023Vienna Insurance Group sets new dividend policy
Vienna Insurance Group lets its shareholders continuously participate in its success since its initial listing on the Vienna Stock Exchange in 1994. With regard to dividend continuity and predictability VIG aims to pay in the future a dividend per share that is at least equal to that of the previous year and increases continuously depending on the operating earnings situation.
29 November 2023UNIQA posted 3Q2023 rise in premiums and profits
Austrian insurance group UNIQA reported January-September 2023 premium growth of 9.4% to EUR 5.5 billion and a significant increase in earnings before taxes to EUR 305 million. “Above all, property and casualty insurance and health insurance contributed to this very satisfactory growth”, as the Austrian insurer pointed out in a statement.
27 November 2023Talanx completes acquisition of Liberty Seguros in Brazil
The Retail International division of the Talanx Group successfully closed its acquisition of the Liberty Seguros business with retail customers and small to mid-sized enterprises in Brazil on 22 November 2023, as the German insurer informed in a statement.
27 November 2023Generali continued to grow profitably in the first 9M thanks to the strong increase in both operating and net results
Generali in 3Q2023 achieved continued growth in operating and net result, as well as confirmed solid capital position with Solvency Ratio at 224%, the Group said in its recent press-release.
27 November 2023Allianz is the top global insurance brand for the fifth year in a row
For the fifth year in a row, Allianz has been named the world’s number one insurance brand in Interbrand’s 2023 Best Global Brands ranking, as the German insurer announced in a press release.
27 November 2023UNIQA announced leaner Management Board structure from July 2024
Austrian insurer UNIQA informed that, as the Supervisory Board decided at its meeting on 22 November, the Management Board team, which will continue to be identical for the listed UNIQA Insurance Group AG and its subsidiary UNIQA Osterreich Versicherungen AG, will comprise seven instead of nine members in future.
27 November 2023VIG increases its share of Hungarian business from 55% to 90%
On November 21, 2023, Vienna Insurance Group (VIG) signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which are currently held by the Hungarian state holding company Corvinus. After completion of the transaction, VIG's share in the holding company will increase from 55 to 90%.
22 November 2023VIG & Gallup International study shows low risk literacy among the CEE population and largely misconceptions regarding the protection provided by public systems
At the request of the Vienna Insurance Group (VIG), Gallup International examined risk competence in nine countries in Central and Eastern Europe (CEE). The representative study revealed clear deficits and widespread fallacies regarding financial security provided by state and social institutions.
22 November 2023Sava reported 9 months growth in business volume and profits
Slovenian insurance group Sava reported 3Q2023 13.7% y-o-y increase in business volume to EUR 711.2 million, while the net profit increased slightly to EUR 36.5 million (3Q2022: EUR 35.0 million), “a similar level to that of the first nine months of last year, despite this year’s major claim events”.
20 November 2023S&P confirms UNIQA rating and expects further growth
Austrian insurance group UNIQA informed that the international rating agency Standard & Poor's (S&P) confirms UNIQA’s rating in its current report: the "A" ratings for UNIQA Osterreich Versicherungen AG and UNIQA Re AG and the "A-" rating for UNIQA Insurance Group AG, all with a stable outlook.
20 November 2023VIG created the CO3 Department to strengthen the collaboration within the Group
Austrian insurer VIG - Vienna Insurance Group informed is strengthening exchange between its Group companies with the newly created department “CO3” – communication, collaboration & cooperation. “The focus is on boosting cross-border know-how sharing as well as on intensifying cooperation between VIG companies located in the same country, thereby enhancing the local multi-brand strategy”.
14 November 2023
