News - Re/Insurance groups

Austrian insurers ended 2023 with business worth EUR 22 billion

Premiums written by Austrian insurers during FY2023 stood at EUR 21.95 billion, an increase of 5.43% or EUR 1.13 billion compared with the preceding year. During the 4th quarter of 2023 alone, there was an increase in premium volume of +7.51% y-o-y to EUR 4.99 billion compared with Q4 2022, according to a press released by the Austrian Financial Market Authority (FMA)

UNIQA: FY2023 premiums increased by 10%

According to the preliminary 2023 financial results, Austrian insurance group UNIQA posted strong premium growth (+9.7% to EUR 7.18 billion) while earnings before taxes exceeded expectations (at EUR 426.4 million).

Talanx expects FY2023 record profit worth EUR 1.58 billion

Based on preliminary figures, German insurer Talanx informed it is expecting Group net income of EUR 1.58 billion. This clearly surpasses the original annual target of approximately EUR 1.4 billion. Insurance revenue rose to EUR 43.2 billion (vs. EUR 39.7 billion).

SCOR posted a record FY profit

The French reinsurer SCOR informed it achieved a record full year 2023 net income of EUR 812 million, due to the Q4 2023 performance.

UK: One in thirteen new homes built in flood zone

New analysis by the UK’s largest home insurer, Aviva, reveals that one in thirteen (8%) new homes built in England in the last ten years are in a flood zone, the equivalent of almost 110,000 homes.

Lloyd’s reports strong preliminary FY2023 results

Re/insurance marketplace Lloyd’s announced its 2023 preliminary FY2023 financial performance. “The full results will be released on 28 March 2024, accompanied by guidance on expectations for Lloyd’s Full Year 2024 results”.

ALLIANZ 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.

Aegon 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.

WTW 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.