News - Re/Insurance groups

Appointments to NN Group's Management Board

NN Group announced an update of the composition of the Management Board (MB) as of 1 June. Bernhard KAUFMANN will join the MB as Chief Risk Officer (CRO) of NN Group. "Furthermore, given the growth of activities following recent acquisitions in the Netherlands, our Dutch businesses will be divided into two portfolios with separate responsibilities", as NN announced in a statement.

Miriam van Dongen appointed as new member of ACHMEA's Supervisory Board

Dutch insurer ACMEA announced about a week ago that during the Annual General Meeting, the shareholders approved the appointment of Miriam van Dongen as a member of ACHMEA's Supervisory Board for a period of four years. The nomination has been approved by the Nederlandsche Bank. Additionally, the AGM has reappointed Wim de Weijer to the Supervisory Board for a period of four years.

VIG confirms outstanding 2019 results. Group Annual Report and Group SFCR report 2019 published

Austrian VIENNA Insurance Group - VIG announced that the preliminary figures for 2019, which were released on 17 March 2020, have now been confirmed by the publication of the Group Annual Report. "Management is confident that the Group will weather the effects of the coronavirus crisis due to its solid capital base, the positive results recorded in previous years and the ongoing stringent implementation of the Agenda 2020 management programme".

Fairfax, 1Q2020: Underwriting profit increased 17% year-on-year

At the end of the first quarter of 2020, Fairfax Financial Holdings announced a consolidated gross premiums written volume of USD 4,776 million, 1.0% more year-on-year. The net premiums written volume increased by 10.1% to USD 3,699.9 million.

MMC, 1Q2020: Net income went up to USD 754 million

Marsh & McLennan Companies (MMC) ended the first quarter of 2020 with a net income (attributable to the company) of USD 754 million, 5% more year-on-year. This results translates into USD 1.48 per diluted share (+6%) and USD 1.64 adjusted earnings per share (+8%).

Aon, 1Q2020: Net income rose by 17% year-on-year

Aon ended the first three months of 2020 with a net income of USD 772 million, 17% higher when compared to the first quarter or prior year. However, "the first quarter 2020 financial results are not necessarily indicative of results that may be expected for the full year or any future period, particularly in light of the continuing effect of the COVID-19 outbreak," the company explained.

Swiss Re, 1Q2020: Net earned premiums rose 7.3%

For the first quarter of 2020, Swiss Re Group reported consolidated net premiums earned of USD 9,586 million, 7.3% more year-on-year. At the same time, the group registered a net loss of USD 225 million, reflecting the impact of the COVID-19 crisis on the underwriting and mark-to-market unfavourable valuation of Phoenix Group Holdings plc shares.

AVIVA Italy donates EUR 200 k to Milan Municipality

UK-based financial group AVIVA informed its Italian subsidiary - AVIVA Italy supports the Mutual Aid Fund, founded by Giuseppe SALA, Mayor of Milan. The aim of the fund is to help those who are facing the hardest difficulties caused by the economic and health emergency relating to Covid-19.

CO: We cannot estimate the COVID-19 impact

CROATIA osiguranje (CO), one of the largest insurer in the Adriatic region, annonced that based on currently available information, it cannot reliably estimate the amount of potential losses that would result from the direct impact of COVID-19.

TRIGLAV published the Coronavirus impact on FY2020 planned figures

TRIGLAV Group informed in a statement its expectations regarding the impact of the pandemic on Group's performance in 2020. Thus, compared to the published business plan for 2020 in December 2019 - profit before tax of EUR 95 million - EUR 105 million and GWP of around EUR 1.2 billion, the most recent scenario published by the company as a result of Coronavirus pandemic indicates a decline in Group FY2020 profit of 10%-25%, while in case of GWP the forecast indicate a decrease of 3-5%.

VIG Re end-year premium exceeds half billion euro for the first time

Reinsurer VIG Re, part of Austrian insurance group VIG reported FY2019 total premium volume of EUR 527 million, up by 15.4% y-o-y - exceeding for the first time the EUR 500 million benchmark. At the same time, the company FY2019 profit before tax increased by 0.3% y-o-y to EUR 22.6 million while the reported combined ratio of 96% is 3.5 percentage points above 2018 level.

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