"The quarter has been difficult, and the results are significantly below the Group’s expectations. Our short-term priority is the restoration of our financial performance," says Laurent Rousseau, Chief Executive Officer of SCOR.
"I am delighted that the Board of Directors can henceforth benefit from Martine Gerow’s expertise, skills and experience. Her knowledge of financial matters and her global vision will be valuable assets, helping to enriching our discussions…
Christoph Jurecka, Munich Re Chief Financial Officer says: "Financial solidity and professional expertise are of fundamental importance to our clients in times of crisis and guide Munich Re in its actions. Hurricane Ian matches the pattern science…
“For every risk there’s a business opportunity. The insurance industry, which is often referred to as a mirror to the economy, is well versed in risk assessment, given its role as oil in the economic engine and a reliable gauge of things to…
"High inflation rates only add to the costs of rebuilding. Our full-year earnings guidance nevertheless remains achievable. This is possible thanks to healthy profit contributions from the investments as well as life and health reinsurance and…
"Both insurers and reinsurers alike find themselves facing a sharp rise in inflation, which together with sustained high expenditures for major claims is adversely impacting the profitability of the entire industry," says Dr. Michael Pickel,…
Munich Re says it still anticipates a profit of about €3.3bn for 2022, however, has become significantly more challenging to meet the 2022 profit target – which is subject to the realisation of currently anticipated positive one-off effects,…
The Supervisory Board of Munich Re has announced the appointment of Dr. Thomas Blunck (aged 57) as the Chair of the Reinsurance Committee of the Group’s Board of Management with effect from 1 January 2023.
"The outlook both on the economy and on inflation has become bleaker in the past few weeks, especially in Europe. That, along with increasing risks from cyber attacks and natural disasters, puts insurers in a difficult and complex situation…
It is with great pleasure that we welcome Chris on board. He is a highly experienced insurance and reinsurance professional with an in-depth knowledge of our market, which makes him the ideal person for the role, Catherine Fassi, Regional CEO…
The year 2022’s renewal rounds so far have taken appropriate account of our prudent consideration of inflation changes, and rising interest rates will have a positive effect on our return on investment in the medium term, says Torsten Jeworrek…
"The inflation rates in many regions are higher than they have been in decades. Combined with the war in Ukraine and given that the pandemic has still not been overcome, this is fuelling the long-standing trend towards ever-higher loss burdens…
The natural disaster picture for the first half of 2022 is dominated by weather-related catastrophes, with extreme tornadoes in the US causing billions in damage, parts of eastern coastal Australia submerged by floods, and southern Europe struggling…
An understanding of the monkeypox outbreak, including transmissions, vaccines, treatments, and the potential impact it may have on insurers and society is of paramount importance to our clients, says SCOR.
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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