News - Re/Insurance groups
PZU’s SB appointed new BoD President and BoD Members
Polish insurer PZU informed in a statement that on 27 March 2024, the Company's Supervisory Board (SB) appointed new President of the PZU SA Management Board and other three Members. “The resolutions came into force upon adoption. All appointments are effective as of 12 April 2024 for a joint term of office covering three full fiscal years 2023–2025.”, informed PZU.
2 April 2024Stefan SPERLICH will head the newly created cyber and digital business unit of Hannover Re
German reinsurer Hannover Re announced it will combine its global business in the areas of cyber and digital to “further strengthen its underwriting expertise by creating a new specialty reinsurance business unit”.
2 April 2024Talanx posted record Group FY2023 net income and lifts earnings targets
After again generating record Group net income of EUR 1,581 million in financial year 2023, the Talanx Group is proposing that the General Meeting lift the dividend per share by 35 cents to EUR 2.35.
25 March 2024Marsh to acquire majority share in Moroccan broker Beassur Marsh
Global insurance broker Marsh announced that it intends to exercise its option to acquire the majority of shares in Beassur Marsh, a leading insurance broker in Morocco. The announcement follows Marsh’s acquisition of a stake in the business in June 2019. Terms of the transaction were not disclosed.
25 March 2024Hannover Re beats FY2023 earnings target and raises dividend
German reinsurer Hannover Re generated Group net income of EUR 1.8 billion for the 2023 financial year (previous year: EUR 0.8 billion) and thus beat its guidance of at least EUR 1.7 billion.
25 March 2024Hannover Re appoints Swiss Re executive Thorsten Steinmann to the Executive Board to succeed Michael Pickel
The Supervisory Boards of Hannover Ruck SE and E+S Ruckversicherung AG have appointed Thorsten Steinmann as a member of the Executive Board of Hannover Re and E+S Ruck effective 1 September 2024. He will succeed Michael Pickel, who will retire on 31 December 2024 after 25 successful years at Hannover Re.
25 March 2024VIG: Christoph RATH appointed as deputy member of the Managing Board
At today's meeting of the Supervisory Board of Vienna Insurance Group (VIG),
21 March 2024VIG Re, FY2023: celebrates its 15th anniversary with record results and an A+ S&P FSR rating
In 2023, VIG Re – the reinsurance arm of the Vienna Insurance Group -, reported GWP growth by 13.7%, to EUR 900.7 million, driven by significant growth of the non-life treaty business across all segments. Under the new IFRS 17/9 accounting standards, insurance service revenue for the year was EUR 819.4 million.
21 March 2024The macroeconomic & geopolitical insecurity undermines the business confidence in 2024
According to the 2024 Political Risk Report recently released by the global insurance broker Marsh, despite continued volatility and uncertainty, there are substantial global growth opportunities that organizations may benefit from, if these risks are managed effectively.
19 March 2024Austrian 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)
19 March 2024Swiss Re to re-elect Jacques de Vaucleroy as BoD member and elect him as new Chairman
Swiss Re will propose the election of a new Chair of the Board of Directors at the 2024 AGM. This year's AGM will be held on 12 April 2024 in Zurich.
19 March 2024VIG, FY2023: strong growth both in underwritings and earnings support optimistic expectations for 2024
Austrian Vienna Insurance Group (VIG) reported GWP for the full year 2023 worth EUR 13.8 billion, 10% more y-o-y. Earnings before taxes reached around EUR 773 million, up by +32% y-o-y, while the insurance service revenue increased by 12%, to EUR 10.9 billion, VIG announced.
13 March 2024UNIQA: 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).
12 March 2024Talanx 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).
12 March 2024SCOR 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.
12 March 2024UK: 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.
12 March 2024Lloyd’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”.
12 March 2024Generali Group, FY2023: strong growth mainly sustained by the P&C segment
Italian groups Generali ended 2023 with GWP of EUR 82.5 billion, 5.6% up y-o-y, and a record operating result of EUR 6.9 billion (+7.9%), thanks to positive contribution from all segments, led by P&C, the Group announced.
12 March 2024Sava Re Group, FY2023: strong organic growth in all operating segments and markets
The Sava Insurance Group achieved strong organic growth in all its operating segments and markets in 2023. Its business volume increased to EUR 910.1 million, up 14.4% on the previous year and 13.8% ahead of plan, the Groups announced in a press release.
7 March 2024TRIGLAV Group, FY2023: positive balance despite the record high CAT claims and inflationary pressure
Triglav Group's total business volume rose by 12% to EUR 1,78 billion in 2023, while its earnings before tax amounted to EUR 21.1 million, the unaudited data released by the Group show. The regulated price of supplemental health insurance in Slovenia and record high CAT claims impacted the Group's earnings.
6 March 2024
