Beirut explosion from 4th August 2020 will "pretty certain" be "a major loss" for Hannover Ruck SE, Sven Althoff, reinsurer's head of property and casualty, commented, cited by S&P Global Market Intelligence
In the second quarter of 2020, Munich Re generated a consolidated profit of EUR 579 million, 41.7% smaller compared to the value recorded in the second quarter of 2019. COVID-19 related-losses totaled EUR 700 million, dragging the profit down.
During the second quarter of 2020, ERGO, part of Munich Re, generated a sizeable profit of EUR 173 million (+27.4%) in its field of business, while for the January-June 2020 period, it's consolidated profit reached EUR 245 million (+11.4%).
For the second quarter of 2020, from April to June, Fairfax Financial Holdings announced net earnings of USD 435 million, compared to net earnings of USD 494 million in the second quarter of 2019.
In the first quarter of 2020, the overall CIS regional market decreased in GWP volume by 3.8% y-o-y (after currency conversion to EUR). Total regional GWP reached approximately EUR 6.09 billion*, according to one of XPRIMM latest statistical analysis.
Between January-March 2020, the Romanian insurance market wrote a gross amount of premiums of RON 2.95 billion (~EUR 612 million*), up 8.8% year-on-year, and paid a total volume of claims in amount of RON 1.79 billion (~EUR 370 million*), 14.2% more y-o-y, the latest figures from the Financial Supervisory Authority (ASF) show.
Insurance companies in Poland underwrote gross premiums of PLN 16.74 billion (EUR 3.68 million*) in the first three months of 2020, up 2.4% year-over-year, the country's Financial Supervisory Authority (KNF) said in a report.
During the first half of 2020, the insurance company KAFOLAT concluded over 320 thousand insurance contracts for a total insurance amount of UZS 80.3 billion (~EUR 7.86 million*), according to the company's preliminary data
Hannover Re Group ended the first half of 2020 with a net income of EUR 402 million, 39.3% lower than the same period of prior year. The operating profit (EBIT) decreased by 46.6% to EUR 504 million.
Allianz Group ended the first half of 2020 with a net income of EUR 3.1 billion, 28.2% lower than the value reported in the first half of the prior year. The decrease in the net income attributable to shareholders was largely driven by the drop in operating profit, the group reports.
S&P Global Ratings affirmed the long-term financial strength rating of AlfaStrakhovanie at BB+, outlook stable. The affirmation of the rating reflects the agency's view of the company's leading market position and strong operating performance, as S&P explained in the report
Austrian insurer UNIQA announced that the EU Commission has not identified any conflicts in relation to competition law and has approved the UNIQA's acquisition of AXA
in Poland, the Czech Republic and Slovakia without any conditions.
Dutch insurer ACHMEA announced on 10 July 2020, the Supreme Court of the Netherlands ruled in a case between ACHMEA and the Tax and Customs Administration. In its judgement, the Supreme Court has reached the same conclusion as the Court of Justice did earlier.
Insurance Europe has published its response to a consultation by the European Commission on its roadmap for the Capital Markets Union (CMU) action plan.
CHUBB Limited today announced management changes to its life and general insurance operations in Asia.
Guy Carpenter & Company, part of Marsh & McLennan Companies (MMC), announced the appointment of Peter Askew as President and CEO, of Guy Carpenter's Canadian business, with immediate effect.
Insurance Europe has published an insight briefing
about the European insurance industry's views on artificial intelligence (AI).
Insurance Europe has published its response
to a call for evidence by the European Securities and Markets Authority (ESMA) on credit rating information and data.
In the first half of 2020, about 3.4 million livestock items were insured with state support, which is 30% more y-o-y, according to the National Association of Agriculture Insurers (NAAI)
For the first six months of 2020, Swiss Re reported a net loss of USD 1.1 billion, after booking claims and reserves related to COVID-19 of USD 2.5 billion. Excluding the impact of COVID-19 losses, net income amounted to USD 865 million for the period, reflecting a strong underlying business performance across the group.