Trans Re ended the first nine months of 2019 with earnings before taxes in amount of USD 639 million, showing a considerable increase of 43.9% compared to the same period of the year before.
At the end of September 2019, for nine months ended, UNIQA Group consolidated net profit increased by 1.7% to EUR 167.1 million.
As we're heading towards 2020, the re/insurance industry evaluates the challenges and the evolution ahead. Swiss Re, for example, considers that the asset side will no longer have an impact. There is, also, the threat of inadequate pricing, mostly in the CEE countries.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Slovenian Zavarovalnica TRIGLAV d.d. (TRIGLAV), the parent company of the TRIGLAV group, and Pozavarovalnica TRIGLAV Re (TRIGLAV Re), a wholly owned subsidiary of TRIGLAV. The outlook of these Credit Ratings (ratings) remains stable.
Sedgwick has announced the appointment of Wayne MANNING as head of client services for its international division.
VIG's head, Elisabeth STADLER was awarded as best International CEO and Liane HIRNER best CFO Newcomer of the Year at the CEO & CFO Award ceremony 2019 of the consulting company Deloitte together with Boerse Express and the CFO Club Austria, on 13 November 2019.
"I'm proud to say that we are a significant profit engine for the Group: as a matter of fact we are the second biggest net profit contributor in 2018. We have a proven track record of profitable growth and we are the most profitable insurance Group in the region. We are ready to capture market opportunities, thanks to our strong market position and a highly efficient regional platform", according to an interview with Luciano CIRINA, Austria, CEE & Russia Regional Officer and CEO of GENERALI CEE Holding published on the insurer' website.
Allianz Global Corporate & Specialty SE (AGCS) and Allianz Deutschland AG announced leadership changes, to take effect from 1 December 2019, subject to regulatory approval.
Microsoft will team up with Allianz and Syncier, the B2B2X insurtech founded by Allianz, to offer new digital solutions aiming to reduce costs and improve the portfolio management process.
China Banking and Insurance Regulatory Commission (CBIRC) approved Allianz request to conduct operations in world's fastest growing economy.
From January to September 2019, Sampo Group accumulated a profit before taxes of EUR 1,073 million, 34.7% smaller than the same period of prior year.
Lloyd's has informed that it will merge the Council with the Franchise Board from June 2020 to create a unified governing body, after receiving widespread support from across the market.
Italian insurer GENERALI annouced the launch of ARTE GENERALI, a global business unit dedicated to art collectors. "ARTE GENERALI is a suite of prevention, protection and insurance solutions for art collectors, integrated with unmatched services and cutting-edge technology", mentioned the Italian insurer in a press release.
French insurance group AXA announced it sells 144 million shares in its US subsidiary AXA Equitable Holdings (EQH) to the investment company GOLDMAN SACHS which acted as the sole underwriter of a registered public offering of the AXA Group.
Net income available to common shareholder was USD 998 million for the first nine months of 2019, showing a solid result compared to the USD (101) million net income registered in the first nine months of 2018.
For the third quarter of 2019, NN Group net result amounted EUR 515 million, showing a decrease of 34.6% year-on-year, reflecting lower non-operating items.
The PZU Group saw in 3Q 2019 record-breaking sales, with GWP amounting to PLN 17.5 billion (EUR 4 billion). At the same time, the net result on insurance activity reached PLN 1.99 billion (EUR 455 million), the best in five years.
In the first nine months of 2019, Triglav Group posted a total of EUR 905 million in consolidated GWP, or 10% more y-o-y, and reached a profit before tax of EUR 72 million, up by 3% y-o-y. Taking into account the conditions anticipated until the end of the year, the Group confirms its annual profit guidance.
Swiss Re Corporate Solutions (SRCS) appoints Loredana MAZZOLENI NEGLEN as Head Customer Experience & Global Sales Steering, effective 1 February 2020. In this newly created role, she will be responsible for supporting SRCS to better understand and address its customers' needs and pain points, and deliver a better Customer Experience.
For the first nine months of 2019, Zurich Insurance Group (Zurich) Property and Casualty (P&C) amounted USD 26.4 billion (up 7%), while the Life annual premium equivalent was USD 3.2 billion (down 6%).