German insurance group Allianz announced that Agust?n de la Cuerda is appointed as Commercial Managing Director for Iberia, and David Colmenares as Commercial Managing Director for Latin America.
German insurer Talanx Group announced in a statement
it grew its insurance revenue and Group net income in the first three months of 2023.
In Q1 2023, German reinsurer Munich Re generated a net result of EUR 1,271 million vs. EUR 1,480 million a year before.
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.
Generali Group, one of the largest global insurance providers, has launched Generali Malaysia following the acquisition of a controlling majority in AXA Affin joint ventures in Malaysia and 100% purchase of MPI Generali Insurans Berhad.
Austrian insurer Vienna Insurance Group informed it launches user-friendly app based on telematics in the Czech Republic
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.
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".
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).
Hannover Re in the first quarter of 2023 generated an increased profit. Group net income rose to EUR 484 million, according to the recent group's quarterly statement.
Italian insurer Generali announced it has reached an agreement with Frankfurter Leben for the disposal of Generali Deutschland Pensionskasse AG (GDPK).
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 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.
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.
Euroins Insurance Group (EIG), owned by Eurohold Bulgaria AD, insured two-thirds of Ukraine's grain exports in 2022. EIG's Ukrainian subsidiary insured nearly 1,800 grain shipments, totaling USD 5 billion and accounting for 65% of the value of Ukraine's total grain exports, according to Statista
Global reinsurer Munich Re informed it achieved both a "good investment result in Q1 2023 and a pleasing operational business performance".
Zurich Insurance Group (Zurich) has published its Financial Condition Report 2022, reaffirming the strong financial position and robust balance sheet of the Group.
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 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 bbj.hu here
quoting press released by the Ministry of Economic Development.
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.