News - Re/Insurance groups

CO projected H1 2024 net profit is slightly below EUR 30 million

At the General Assembly of the Adris Group, as a part of the presentation of Adris Group companies, Management Board of CROATIA osiguranje d.d. informed about business performance in the past year as well as trends in the first six months of the current year.

Argenta appoints new group chief risk officer

Argenta Holdings Limited, today announces the appointment of Niranjan Nathan as group chief risk officer (subject to regulatory approvals), assuming the role from Carol-Ann Burton, who will continue as group general counsel and compliance director.

VIG receives EU funding for comprehensive cyber security programme

Vienna Insurance Group (VIG) has initiated a comprehensive programme to increase protection against growing cyber threats. The Group companies will be serviced by three competence centres in Austria, Poland and the Czech Republic. The initiative is financially supported by the European Union through the European Cybersecurity Competence Centre.

Triglav to pay EUR 1.75 gross dividend per share and appointed two new SB members

Slovene re/insurance group Triglav informed that at its General Meeting of Shareholders, the shareholders supported the Management Board's and the Supervisory Board's proposal to pay EUR 1.75 gross dividend per share - which represents a 5% dividend yield. The dividend will be paid to the shareholders appearing in the Company's share register on Tuesday, 18 June 2024 (the ex-dividend date is Monday, 17 June 2024).

S&P affirms 'A' ratings on Sava Re and Zavarovalnica Sava, outlook stable

S&P Global Ratings informed on its website that it had affirmed the “A” long-term financial strength and issuer credit ratings on Sava Re with a stable outlook. The ratings are based on the Agency’s updated capital model with revised criteria for analysing insurers’ risk-based capital dated 15 November 2023.

Lloyd’s strengthens Latin America and Caribbean business

Lloyd’s announced the opening of a new office in Miami from 1 September 2024 to strengthen its Latin America and Caribbean business and continue to support the market’s sustainable and profitable growth in the Americas. Latin America and Caribbean is an important and fast-growing area for Lloyd's, accounting for 4.6% of gross written premium (USD 2.7 billion) in 2023.

Eurohold maintains profitability in 2023 amid lower revenues

Bulgarian financial holding Eurohold Bulgaria AD reported total revenues of BGN 2.89 billion (EUR 1.48 billion) and earnings before interest, taxes, depreciation and amortization (EBITDA) of approx. BGN 207.58 million (EUR 106.13 billion) in 2023, down by 33.5% and 11.9% percent, respectively, compared to the previous year. The company posted a positive 2023 net financial result of BGN 78.63 million.

Change in UNIQA’s Supervisory Board

Christian Kuhn has resigned from the UNIQA Supervisory Board due to the age limit stipulated in the UNIQA statutes. Professor Monika Henzinger was elected as his successor.

VIG posted 11% growth rate in Q1 business

Vienna Insurance Group (VIG) increased its gross written premiums by 11% to EUR 4.29 billion after the first quarter of 2024. This corresponds to an increase of 11% or EUR 426 million compared to the previous year’s figure of EUR 3.87 billion. With a solvency ratio of 262% as of 31 March 2024, the Group continues to be excellently capitalised.

PZU announced change in rating outlook

Polish largest insurer PZU SA (Powszechny Zaklad Ubezpieczen Spolka Akcyjna) informed that on 28 May 28, 2024, the rating agency S&P Global Ratings communicated that the Company's rating outlook has been changed from stable to positive. At the same time, the agency affirmed PZU SA's rating unchanged at “A-”.

Geneva Association Ernst Meyer Prize winners announced

The Geneva Association has announced the co-winners of the 2024 Geneva Association Ernst Meyer Prize, which since 1976 has recognized excellent doctoral theses that contribute to the study of risk and insurance economics: Sebastian Hinck (PhD, University of Hamburg) and Jieyu Lin (PhD, Tsinghua University), the association said in its press release.

UNIQA posted Q1 2024 premiums growth and more profit

The premiums written of Austrian insurance group UNIQA rose by 10.9% to EUR 2,184.3 million in the first three months of 2024 compared with the same period of the previous year (EUR 1,969.4 million). Above all, property and casualty insurance and health insurance contributed to this very pleasing growth.