News - Re/Insurance groups

AXA Q1 2023 business increased to EUR 31.8 billion

French insurer AXA informed it closed Q1 2023 with business worth EUR 31.8 billion, up from EUR 31.2 billion a year before, of which Property & Casualty - EUR 18.6 billion, Life & Health - EUR 12.8 billion, Asset Management - EUR 0.4 billion.

SCOR Q1 2023 results under IFRS 17

French reinsurer SCOR posted insurance revenue of EUR 3.92 billion in Q1 2023, down 4.2% compared with Q1 2022. Gross written premiums stand at EUR 4.74 billion, down 0.7% at constant exchange rates (up 0.6% at current exchange rates) compared with Q1 2022. At the same time, the insurer reported group net income of EUR 311 million in Q1 2023, compared with a net loss of EUR -35 million in Q1 2022.

Allianz confirmed the 2023 operating profit target at EUR 14.2 billion, plus or minus EUR 1 billion

German insurance group Allianz informed that at Q1 2023 its total business volume rises 3.9% to EUR 46.0 billion, driven by "the Property-Casualty business segment which benefited from higher prices and volumes. This result was partly offset by lower business volumes in the Life/Health business segment, primarily due to softer single-premium volumes, and a decrease in AuM-driven revenues in our Asset Management business segment".

AGCS posted Q1 increases in premiums and profits

Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group reported Q1 2023 Total Gross Premium Written (GPW) of EUR 3.736 billion, +20% better than prior year (Q1 2022: EUR 3.118 billion).

Allianz launches earthquake risk awareness program for schoolchildren in Turkiye

Allianz Group informed it has committed EUR 6 million to support relief and recovery efforts in Turkiye and Syria after a catastrophic series of earthquakes struck the region on February 6, 2023. Allianz has also unveiled a nationwide earthquake awareness program and projects to build critical facilities for children left destitute by the earthquakes in Turkiye.

Swiss Re reports Q1 2023 net income of USD 643 million

Swiss Re reported a net income of USD 643 million for the first quarter of 2023 as improved profitability in all main businesses absorbed large natural catastrophe losses and seasonally higher mortality in winter months.

Talanx elected three new members of the Supervisory Board

Germany's Talanx Group, the parent company of Hannover Re, informed that at the Talanx AG's General Meeting were elected three new members of the Supervisory Board: Joachim Brenk, Christof Gunther and Sandra Reich.

Zurich confirms strong financial position

Zurich Insurance Group (Zurich) has published its Financial Condition Report 2022, reaffirming the strong financial position and robust balance sheet of the Group.

Aon Q1 revenue increased by 5% y-o-y

Global re/insurance broker AON informed that its Q1 2023 total revenue increased by 5% to USD 3.9 billion, "reflecting 7% organic revenue growth and a 1% favorable impact from fiduciary investment income, partially offset by a 3% unfavorable impact from foreign currency translation".

Hungarian insurer Posta Biztosito became 100% state-owned

Hungarian insurer Posta Biztosito is in Hungarian hands, after the state-owned Corvinus International Investment Company has closed the acquisition of 66.9% stakes (the remaining 33.1% being held by Magyar Posta) in the life & general insurance units of state-owned postal company Magyar Posta from Germany's Talanx, informed here quoting press released by the Ministry of Economic Development.

Swiss Re Chairman resigns

Global reinsurer Swiss Re announced that Sergio P. Ermotti stepped down as Chairman of the Board of Directors on 30 April 2023, after completing the agreed handover period, to fully focus on his role at UBS.