Global insurance broker Willis Towers Watson (WTW) expanded its presence in Kazakhstan - by opening a new entity to serve clients in "this key Central Asian growth market", as the company officials affirmed in a statement.
In 3Q2018, the Slovene TRIGLAV Group posted a profit before tax of EUR 69.9 million, 8% more y-o-y, mostly thanks to the profitable underwriting. Considering the business conditions anticipated until the year end, the Group confirms its annual profit guidance.
The Supervisory Board of Zavarovalnica TRIGLAV reappointed the President of the Management Board of Zavarovalnica TRIGLAV Andrej SLAPAR for a new five-year term of office and approved the proposal submitted by the President of the Management Board, reappointing Uros IVANC and Tadej COROLI as Members of the Management Board.
The International Accounting Standards Board has voted to propose a one-year deferral of the effective date for IFRS 17, the new insurance contracts Standard, to 2022.
ZURICH Insurance Group reported a 2% increase in its 3Q2018 property and casualty business and confirmed its financial targets, according to a statement posted on the insurer website.
Lloyd's, the specialist insurance and reinsurance market announced that Neil MAIDMENT has been appointed as an independent non-executive of the Lloyd's Board with effect from February 2019.
German insurer ALLIANZ announced its total revenues increased by 7.9%, to EUR 30.5 billion in Q3 2018, while the operating profit grew by 20.6%, to EUR 3.0 billion. Overall, the net income attributable to shareholders was up by 23.6% to EUR 1.9 billion, "mainly driven by the increased operating profit".
According to the latest edition of the monthly Global Catastrophe Recap report published by Impact Forecasting, AON's catastrophe model development team, hurricane Michael is expected to leave USD 15 billion financial impact on US economy.
German reinsurer HANNOVER Re increased Group net income by 32.1% at 30 September 2018 to EUR 725.3 million (EUR 548.9 million) and confirms the profit guidance of more than EUR 1 billion for 2018.
HANNOVER Re's long-serving Executive Board Member Jurgen GRAEBER passed away suddenly and unexpectedly on 9 November 2018 at the age of 62. May he rest in peace.
Lloyd's, the global insurance and reinsurance market, announced its post-Brexit unit - Lloyd's Brussels - is established and operational. "Lloyd's Brussels is Lloyd's first Europe wide operation and will bring Lloyd's expertise closer to its customers and partners in Europe".
The German insurer TALANX said its nine-months EBIT improved by 33% to about EUR 1.5 billion (vs. EUR 1.1 billion at the end of September 2017), while the Group net income was up by 10% to EUR 488 million.