News - Re/Insurance groups

Allianz, 9M2019: operating profit grew 4.2%

For the first nine months of 2019, Allianz Group's operating profit grew by 4.2% to EUR 9.1 billion (9M2018: EUR 8.7 billion), mostly due to a one-off profit from Life/Health business in the United States.

Fairfax, 9M2019: consolidated earnings went up 56.1%

Fairfax Financial Holdings announced net earnings of USD 68.6 million in the third quarter of 2019, 34.4% less compared to the third quarter of 2018, primarily reflecting net losses on investments, partially offset by higher operating income. However, the nine months earnings reached USD 1,332 million, which reflects a 56.1% increase year-on-year.

Swiss Re, 9M2019: net income rose 23.2% y-o-y

For the first three quarters of 2019, Swiss Re net income reached USD 1.3 billion at group level, representing an increase of 23.2% from the same period of prior year, growth driven by reinsurance activity and a 4.3% return on investments.

WTW, 9M2019: net income went up by 8.2% y-o-y

Willis Towers Watson (WTW) ended the first nine months of 2019 with a net income of USD 522 million, 8.2% more that the net income of the same period of prior year.

MetLife, 3Q2019: net income increased by 2.4 times

MetLife reported a net income of USD 2.2 billion for the period between July - September 2019, 2.4 times more than the third quarter of 2018 (USD 880 million), reflecting an increase of 145% y-o-y.

Aon, 9M2019: revenue increased 2%, to USD 8.1 billion

For the first nine months of 2019, Aon revenue increased by USD 128 million (1.6%) compared to the same period of prior year, amounting USD 8.1 billion at the end of September 2019, due primarily to organic revenue growth of 6%, partially offset by a 3% unfavorable impact from foreign currency translation and a 1% unfavorable impact related to divestitures, net of acquisitions.

Aon appoints Lisa STEVENS as Chief People Officer

Aon plc announced the appointment of Lisa STEVENS as Chief People Officer, part of an ongoing series of actions to further strengthen alignment and accelerate momentum in bringing its Aon United growth strategy closer to clients around the world.

QIC Group, 9M2019: USD 137 million net profit, up 5.4%

Qatar Insurance Group (QIC Group) reported a net profit of USD 137 million for the first nine months of 2019, up by 5.4% compared to same period of prior year. According to QIC Group, the Middle East North African (MENA) markets continued to produce stable premiums with underwriting profitability, weathering geopolitical headwinds in the region.

MMC, 9M2019: revenue up 10.2% y-o-y

Marsh & McLennan Companies (MMC) consolidated revenues rose by 10% year-on-year at the end of first nine months of 2019. The total revenues were around USD 12.4 billion (9M2018: USD 11.2 billion).

SCOR, 9M2019: Group net income rose 17.3% YTD

For the first nine months of 2019, SCOR Group secured a net income of EUR 401 million, 17.3 percent more compared to the same period of 2018. The return on equity (ROE) was 8.8%, exceeding the profitability target set in "Quantum Leap" business plan by 816 bps.

FITCH removes SIRIUS ratings from Rating Watch Negative to Outlook Stable

Fitch Ratings has affirmed and removed Sirius International Group, Ltd.'s ratings from Rating Watch Negative, including its 'BBB' Long-Term Issuer Default Rating (IDR), 'BBB-' senior debt rating and 'A-' (Strong) Insurer Financial Strength (IFS) rating of Sirius's operating subsidiaries. The Rating Outlook for all ratings is Stable.