News - Re/Insurance groups
Zurich posts record profit in 2023
Zurich insurance group posted FY 2023 Group business operating profit (BOP) up by 21% to a record USD 7.4 billion.
5 March 2024Allianz completes the acquisition of Tua Assicurazioni from Generali
German insurer Allianz informed that it has completed the acquisition of Tua Assicurazioni S.p.A. from Italian insurer Assicurazioni Generali for a consideration of EUR 280 million. The acquisition was initially reported in October 2023 (click here for details).
5 March 2024CROATIA osiguranje, FY2023: stable profitability despite high NatCat claims paid
Consolidated insurance revenues of Croatia osiguranje, including regional branches, amounted to EUR 476 million in 2023, which is 11% more y-o-y. The company, part of the Adris Group, achieved a consolidated net profit before minority interests in the amount of EUR 58.5 million.
29 February 2024Munich Re, FY2023: higher than best expectations profit; optimistic outlook for 2024
Munich Re posted a profit of EUR 4.59 billion for the 2023 financial year – slightly higher even than the revised profit target of EUR 4.5 billion announced in October 2023, up from the initial figure of EUR 4.0 billion. Insurance revenue from insurance contracts issued rose y-o-y to EUR 57.88 billion.
29 February 2024ALLIANZ Group, FY2023: business volume up by 5.5%
Allianz Group’s total business volume rose by 5.5% to EUR 161.7 billion in 2023, while the operating profit increased by 6.7% to EUR 14.7 billion. For 2024, the group targets an operating profit of about EUR 14.8 billion.
29 February 2024Aegon completes sale of its stake in Indian JV
The Dutch insurer Aegon announced the completion of the sale of its 56% stake in its joint venture in India, Aegon Life Insurance Company, to Bandhan Financial Holdings Limited, an Indian financial services company.
28 February 2024Last year, ERGO paid out over EUR 216 million of compensation in the Baltics
In 2023, ERGO paid out in the Baltic States EUR 216 million. Of these, EUR 59 million were paid to Latvian customers, EUR 102 million in Lithuania, and EUR 54 million in Estonia, the Latvian Insurers Association wrote.
28 February 2024WTW reported FY2023 business worth USD 9.5 billion
Global broker WTW reported FY2023 revenue worth USD 9.48 billion, an increase of 7% as compared to USD 8.87 billion for the prior year. For the year 2024, the company expects to deliver revenue of USD 9.9 billion or greater.
21 February 2024Generali and TCC agree to name north-east Italy’s largest convention center as 'Generali Convention Center Trieste'
Generali and TCC-Trieste Convention Center announce the agreement to name the largest multifunctional convention center overlooking the sea in the entire north-east of Italy as the Generali Convention Center Trieste.
21 February 2024ERGO recognized as "Top Employer Germany" in 2024
German insurer ERGO Group AG – with business in many CEESE markets such as Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Poland - has been recognized as one of the most attractive employers on its “home market” - Germany for the second time in a row by the international consulting institute "Top Employers Institute".
21 February 2024Matthew SHAW to be appointed as Tokio Marine Kiln CEO
Leading specialty insurer Tokio Marine Kiln (TMK) announced the appointment of Matthew SHAW as CEO with effect from 1 April, subject to regulatory approval. SHAW will succeed Brad Irick who is taking up the position of co-head of international business for Tokio Marine Holdings, which is the parent company of Tokio Marine Group, to drive its international growth ambitions.
16 February 2024Swiss Re increases net income to USD 3.2 billion and delivers a 22% ROE for 2023
Swiss Re increased net income to USD 3.2 billion in 2023, with a net income of USD 748 million in Q4 and delivered a return on equity (ROE) of 22.3% for the full year. For 2024, the Group targets a net income of more than USD 3.6 billion under IFRS.
16 February 2024Talanx Group generates record profit of EUR 1.58 billion in 2023
The German insurance group Talanx informed that based on its consolidated unaudited figures, it is expecting Group net income of EUR 1.58 billion. “This clearly surpasses the original annual target of approximately EUR 1.4 billion”.
13 February 2024Lloyd’s and SAP to support long-term economic resilience for Sierra Leone
Lloyd’s has announced it will partner with Sherbro Alliance Partners (SAP) to support economic resilience and growth opportunities on Sherbro Island, Sierra Leone, as part of a landmark sustainable development initiative that aims to put nature and renewable energy at the centre.
13 February 2024Insurance rates remain stable as property price increases continue to moderate
Global commercial insurance rates increased by 2% in the fourth quarter of 2023 (down from a 3% increase in Q3), according to the Global Insurance Market Index released by the global insurance broker Marsh, a business of Marsh McLennan. “The fourth quarter marks the 25th consecutive quarter of rate increases”, as the insurance broker informed in a statement.
13 February 2024Euroins Ukraine boosts insurance premium collections by 20.4%, indemnity payments by 41.5% in 2023
Insurance premium collections by the Euroins Ukraine, a subsidiary of European insurance company Euroins Insurance Group (EIG), increased by 20.4% y-o-y, to UAH 564.909 million in 2023, Ukrainian media said, citing the Euroins Ukraine management's interim report published in the information system of Ukraine's National Securities and Stock Market Commission.
8 February 2024UNIQA becomes a member of the European network Eurapco
After a successful one-year pilot project, UNIQA Insurance Group AG will become a permanent member of the Eurapco Alliance in 2024, the Austrian group announced in a press release.
8 February 2024The sale of Zurich Life Legacy in Germany to Viridium has fallen
Zurich Insurance Group announced that it has been informed that Viridium Group will not complete the purchase of Zurich Life Legacy in Germany as planned.
7 February 2024Generali completes the acquisition of Liberty Seguros
Italian insurer Generali announced that it has completed the acquisition of Liberty Seguros, a Spanish insurance company operating in Spain, Portugal, Ireland and Northern Ireland, from Liberty Mutual. The agreement for the transaction was announced on 15 June 2023, being the “Generali’s largest deal in a decade”, as the insurer informed in a statement.
7 February 2024Aon FY2023 revenue increased 7% to USD 13.4 billion
Global re/insurance broker Aon reported FY2023 total revenue USD 13.4 billion, +7% compared to the prior year, while the net income attributable to Aon shareholders decreased to USD 2,564 million, or USD 12.51 per share, compared to USD 2,589 million / USD 12.14 per share, in the prior year.
7 February 2024
