News - Re/Insurance groups
Hannover Re 3Q2023 net income rises by 25% to EUR 1.4 billion
German reinsurer Hannover Re informed it has generated a nine-month 2023 profit of EUR 1.4 billion and is thus confirming its Group net income target for the full year.
14 November 2023Talanx expects rise in profits to more than EUR 1.7 billion for 2024
German insurance group Talanx informed it generated Group net income of EUR 1.28 billion in the first nine months of 2023 and has lifted its full-year earnings forecast to “significantly more than EUR 1.5 billion” on the basis of its strong operating performance.
14 November 2023Allianz Group, 3Q 2023: increased revenues by 4.5% to EUR 36.5 billion; full-year outlook affirmed
ALLIANZ Group’s total business volume rose by 4.7% to EUR 122.1 billion in the first nine months (9M) of 2023, driven by the P&C business, supported by the L/H business, and partially offset by the development in its Asset Management business segment.
13 November 2023Management team changes at UNIQA Group and its Romanian unit, UNIQA Asigurari de Viata
UNIQA Group announced two changes to the management team, starting November 2023: Cristina Anculescu, previously Member of the UNIQA Asigurari de Viata Board, was appointed Head of Talent & Development for the Group, while Remus LAPUSAN returns to the Board of Directors of UNIQA Asigurari de Viata.
8 November 2023Munich Re raises annual guidance and expects a net result of EUR 4.5 billion; quarterly result increases to nearly EUR 1.2 billion*
Munich Re recorded a net result of EUR 1,169 million in Q3 2023, slightly above the EUR 1,102 million in Q3 2022, and EUR 3,593 million in 9M, which is 14% less y-o-y. As such, closing a third consecutive quarter with a net result surpassing the pro-rata guidance, Munich Re raised its annual guidance.
8 November 2023Zurich enters Indian general insurance market with Kotak Mahindra Bank
Zurich Insurance Group announced a strategic alliance with Kotak Mahindra Bank Limited, India’s third largest private sector bank by market capitalization, through the proposed acquisition of a 51% stake in Kotak Mahindra General Insurance Company Limited for USD 488 million, through a combination of fresh growth capital and share purchase (subject to regulatory approvals and customary closing adjustments).
6 November 2023Global commercial insurance tariffs up by 3% in Q3 2023
Global commercial insurance prices increased 3% in the third quarter of 2023, the same as the prior quarter, according to the Global Insurance Market Index released by the insurance brokerage company Marsh. Q3 2023 marks the 24th consecutive quarter of pricing increases.
6 November 2023AIG completes sale of Validus Re to RenaissanceRe
American International Group announced that is has successfully completed the previously announced sale of Validus Re to RenaissanceRe. AIG received total consideration of USD 3.3 billion in cash, including a pre-closing dividend, and approximately USD 275 million in RenaissanceRe common shares.
6 November 2023Adris grupa posted growth of Q3 revenue and net profit
In the first nine months of 2023, Adris grupa - grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region)- recorded EUR 815 million in total revenue, which is 15% higher compared to the same period last year.
6 November 2023MMC appoints Susan Potter US and Canada Chief Commercial Officer
Marsh McLennan (MMC) announced the appointment of Susan Potter as US and Canada Commercial Officer, effective immediately.
6 November 2023Swiss Re maintains its USD 3 billion net income target, supported by the strong results in 9M 2023
Swiss Re reported a net income of USD 2.5 billion in 9M 2023, with a profit of USD 1 billion in the third quarter. All businesses contributed to the strong result. Swiss Re maintains its guidance for full-year targets, including a Group net income of more than USD 3 billion.
3 November 2023Croatia Osiguranje: Despite revenue growth of 11%, extreme bad weather affected profits for 9M 2023
Consolidated income from insurance sales of Croatia Osiguranje Group of companies amounted to EUR 348 million, 11% more y-o-y. The consolidated net profit for the same period was EUR 31.2 million, the Group said. Yet, adjusting 9M2022 results according IFRS 17, for comparability, 9M2023 net profit fell by 27% y-o-y.
1 November 2023MMC Q3 operating income increased to almost USD 1 billion
MARSH McLENNAN (MMC) reported Q3 2023 revenue of USD 5.4 billion, an increase of 13% compared with the third quarter of 2022. Operating income was USD 996 million, an increase of 26% from a year ago. Net income attributable to the Company was USD 730 million, or USD 1.47 per diluted share, compared with USD 1.08 in Q3 2022.
30 October 2023Eurohold Bulgaria intend to launch international arbitration proceedings against Romania seeking at least EUR 500 million
Following the decision of Romanian ASF from 17 March to withdraw the license of Euroins Romania, the Bulgarian energy-financial holding Eurohold – the owner of Euroins Insurance Group mentioned in a statement that it officially informed the Government of Romania of their intention to initiate an international arbitration to “protect the group’s investment in Romania, unless the current dispute over Euroins Romania’s case is remedied quickly, and the damages caused to the group are duly compensated”.
30 October 2023Aon Q3 Total revenue increased 10% to USD 3.0 billion
Global re/insurance broker Aon reported Q3 2023 total revenue worth USD 2.95 billion, up by 10% y-o-y, while total operating expenses increased from USD 2.10 billion to USD 2.26 billion.
30 October 2023Elke Vagenende to lead Allianz Commercial in Benelux & Nordic countries
Allianz Commercial informed it has appointed Elke Vagenende as Commercial Managing Director for ‘Benelux and Nordics’ region.
30 October 2023Claudia Valencia joins Allianz Commercial to lead Portfolio Solutions
Allianz Commercial has appointed Claudia Valencia as Global Head of Portfolio Solutions, joining on January 8, 2024. She will be based in London, and report jointly to Chief Underwriting Officer Shanil Williams and Global Head of Distribution Jeremy Sharpe.
25 October 2023Croatian Adris grupa invested in renewable energy for self-consumption
Croatian conglomerate ADRIS grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region) informed that it signed a joint investment agreement for renewable energy sources with and ENCRO Group.
25 October 2023Talanx raises profit forecast for FY2023 to exceed significantly EUR 1.5 billion
The Talanx Group expects to report a net income of more than EUR 1.25 billion for the first nine months of the current financial year 2023 due to a strong operating performance of particularly the primary insurance segments, as the German insurance group informed in a statement.
25 October 2023Insured losses from CAT events totaled USD 88 billion at the end of Q3 2023
Insured losses from natural disaster events had reached USD 88 billion by the end of Q3 2023 – 17% higher than the 21st century annual average, according to the Q3 Global Catastrophe Recap report launched by Aon plc.
25 October 2023
