News - Re/Insurance groups

AXA completes the sale of shares in Banca Monte dei Paschi di Siena

French insurance group AXA S.A. announced the successful sale of 100,000,000 shares in Banca Monte dei Paschi di Siena S.p.A., representing ca.7.94% of the Italian Bank's share capital, at a price of EUR 2.33 per share (i.e. a total amount of 233 million euros) in an accelerated book built offering reserved to institutional investors.

Eurohold reports 2022 profit before tax of EUR 34.9 million

Bulgarian financial and energy holding Eurohold reported YE 2022 a nearly 77% growth in revenues compared to the previous year to over BGN 6.3 billion (EUR 3.2 billion) and a roughly 52% increase in EBITDA to approx. BGN 286 million (EUR 146 million), according to the holding's annual consolidated report. Net profit grew by 8.8% on the year to BGN 68.3 million (EUR 34.9 million).

Sava Insurance Group YE 2022 net profit declined by over 10% to EUR 68.2 million

Slovenian Sava Insurance Group informed that it generated a net profit of EUR 68.2 million in 2022, exceeding the annual target by 13.7%, according to the Unaudited financial statements of the Sava Insurance Group for 2022. Compared with 2021 when the same indicator totaled EUR 76.16 million, the net profit declined by over 10%.

S&P upgraded UNIQA's outlook from "negative" to "stable"

On 1 March 2023 the international ratings agency Standard & Poor's (S&P) upgraded the outlook for UNIQA Insurance Group AG, UNIQA Osterreich Versicherungen AG and UNIQA Re AG from "negative" to "stable". S&P also reconfirmed the "A" rating for UNIQA Osterreich Versicherungen AG and UNIQA Re AG, and the "A-" rating for UNIQA Insurance Group AG.

Gunter Geyer received the "Medal for Merit", I Class from the Czech President

The Chairman of the Supervisory Board of Vienna Insurance Group (VIG), Gunter Geyer, received the "Medal for Merit", I Class, from the President of the Czech Republic, Milos Zeman, on 2 March 2023. The ceremony at Prague Castle was also attended by the Austrian Federal President Alexander Van der Bellen.

VIG expects FY2022 net results in a range of EUR 460-470 million

The Austrian insurer Vienna Insurance Group informed that according to FY2022 preliminary figures it expects net results in a range of EUR 460-470 million, significantly above expectations. The result before taxes amounts to about EUR 560 million.

Croatia osiguranje's year-end profits increased to over EUR 50 million

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 it recorded total revenues amounting to HRK 6.5 billion (EUR 862 million), 14% higher compared to the previous year.

UNIQA posts YE2022 EBT worth EUR 422 million

Austrian insurer UNIQA Insurance Group announced in the financial year 2022 it generated earnings before taxes of EUR 421.7 million, 10.3% more y-o-y, while the value of premiums written rose by 3.9% to EUR 6.60 billion.