TOP NEWS
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by Andrei VICTOR, 2023-08-22
Subject to substantial interest rate and market volatilities and in view of the current ongoing weather extremes, Vienna Insurance Group expects a profit before taxes for the Group in a range of EUR 700 - 750 million for the full-year 2023 under IFRS 17/9, as the Austrian insurer informed in a statement.
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by Andrei VICTOR, 2023-08-23
Global reinsurer Swiss Re reported a net income of USD 1.4 billion and a return on equity (ROE) of 22.8% for the first half of the year, compared with a net income of USD 157 million and an ROE of 1.6% for the same period in 2022. Swiss Re representatives informed the company maintains its guidance for full-year targets.
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by Andrei VICTOR, 2023-08-23
Munich Re generated a profit of EUR 1,154 million (vs. EUR 1,585 million) in the second quarter of 2023, and EUR 2,425 million (vs. EUR 3,066 million) in the first six months of the year.
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by Marina MAGNAVAL, 2023-08-23
Hannover Re increased its Group net income in the first half of 2023 by 18% and confirms its full-year earnings target. Reinsurance revenue (gross) increased by 3.9% to EUR 12.3 billion, according to the recent Group’s Half-year Financial Report 2023.
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by Marina MAGNAVAL, 2023-08-23
Zurich Insurance Group (Zurich) delivered strong results in the first six months of the year, matching operating profit at the record high reported in the first half 2022 and laying robust foundations for the 2023-2025 financial cycle, according to the Group’s recent report.
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by Marina MAGNAVAL, 2023-08-23
In 1H Allianz’s total business volume rose by 4.8% to EUR 85.6 billion, driven by the Property-Casualty business segment, supported by the Life/Health business segment, and partially offset by a decrease in our Asset Management business segment, according to the company’s recent earning release for 2Q and 6M2023.
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by Andrei VICTOR, 2023-08-22
The Talanx Group generated a record Group net income of EUR 827 million in the first half of 2023 and is confident of exceeding its FY Group net income target of EUR 1,400 million, as the German insurer informed in a statement.
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by Andrei VICTOR, 2023-08-22
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurer of Allianz Group, part of Allianz Commercial, reported HY 2023 total gross premium written of EUR 6.583 billion, 10% more y-o-y.
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by Daniela GHETU, 2023-08-24
Insurance Europe has welcomed the publication of the Climate Resilience Dialogue Interim report. The release of the report represents a key milestone of this important European Commission initiative, which brings together a range of stakeholders committed to finding concrete solutions in tackling climate protection gaps.
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by Marina MAGNAVAL, 2023-08-22
The recent devastating storm of August 7 caused multiple losses, the amount of compensation in Latvia reached approximately EUR 13-14 million, according to the president of the Latvian Insurers Association, Janis Abasins, the Latvian news source wrote.
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by Marina MAGNAVAL, 2023-08-22
TUW PZUW (Polski Zak?ad Ubezpieczen Wzajemnych), the largest mutual insurance company in Poland, has exceeded 600 members, which means this number doubled in less than four years. TUW PZUW has a 34% market share and is the only insurance company with an international rating (A-), Gazeta Ubezpieczeniowa reports.
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by Marina MAGNAVAL, 2023-08-22
From 2024, the insurance market regulator will adjust regional coefficients when calculating MTPL tariffs depending on regional unprofitability, and thus the tariffs for the most massive type of insurance will reflect actual risks of vehicle owners in a particular region of Kazakhstan, Allinsurance.kz wrote.
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by Marina MAGNAVAL, 2023-08-24
The MTPL market in Ukraine in January-June 2023 grew by 32.3% y-o-y, amounting to UAH 3.8 billion (~EUR 94.81 million), Forinsurer writes according to the MTIBU report.
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by Marina MAGNAVAL, 2023-08-22
Fitch Ratings affirmed the financial strength of Uzagrosugurta and its life insurance subsidiary Agros Hayot at BB- with a Stable outlook, the agency said.
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by Marina MAGNAVAL, 2023-08-23
Fitch Ratings affirmed the financial strength of Uzagrosugurta and its life insurance subsidiary Agros Hayot at BB- with a Stable outlook, the agency said.
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TOP EVENT
Romanian insurers awarded for their achievements throughout the last year
by Daniela GHETU, 2023-08-24
The Romanian insurance industry will celebrate tonight its achievements at the 23rd edition of the Insurance Market Awards Gala. The Awards Gala represents a culminating moment in the industry's calendar, the occasion to recognize and celebrate the achievements of insurance companies and professionals.
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STATISTICS
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by Marina MAGNAVAL, 2023-08-23
The insurance sector ended the first half of 2023 with an increase of 22%, reaching AMD 41.28 billion (EUR 98.55 million). At the same time, the growth of paid claims led to a noticeable decrease in the growth rate of profits of insurance companies in Armenia, according to the data of the Financial Rating of insurance companies provided by ArmInfo.
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by Marina MAGNAVAL, 2023-08-23
Total GWP for the first half of 2023 amounted to KZT 588.05 billion (EUR 1.18 billion), which means an increase of almost 32% y-o-y, according to data published by the National Bank. The main driver of growth is voluntary property insurance.
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by Marina MAGNAVAL, 2023-08-23
The growth of the insurance sector in 1H2023 amounted to 48.10%, GWP reached KGS 1.47 billion (EUR 16.21 million). At the same time, paid claims increased even more - by 61%, to KGS 303.03 million (EUR 3.32 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.
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ON THE MOVE
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by Daniela GHETU, 2023-08-24
The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) appointed Ms Teija KORPIAHO, Chief Adviser of Insurance Supervision at the Finnish Financial Supervisory Authority (Finanssivalvonta, FI-FSA), to EIOPA’s Management Board.
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by Daniela GHETU, 2023-08-24
Adrian MARIN’s mandate as Member and President of the Directorate at the company GENERALI Romania Asigurare Reasigurare S.A.was renewed, receiving the approval of the Council of the Romanian Financial Supervisory Authority on August, 23.
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by Andrei VICTOR, 2023-08-22
After 24 years with Munich Re Group, Clemens Muth, currently Chief Underwriting Officer at ERGO Group, has decided to leave the company at the end of 2023 with the expiry of his current contract to pursue other personal interests. Edward Ler, currently Executive Vice President and Head of Southeast Asia region at Chubb Asia Pacific in Singapore, has been appointed as his successor as of 1st January 2024.
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EVENTS
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CURRENT XPRIMM REPORTS
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