insurancemarket
Generali, one of Italy's biggest insurance companies, has reported a 5.5% increase in operating profits to €1.9 billion for its first quarter of 2024. The company says the rise was mostly due to the continuing robust performance of every business division. Adjusted net profit came in at €1.1 billion for the same period, a drop of 9% from the €1.2 billion seen for the same time last year. Gross written premiums surged to €26.4 billion, an increase of 21.4% that was boosted mainly by the property-casualty insurance and life insurance divisions. Life insurance net inflows reached €2.3 billion, dr...
Euronews (English)
Zaragoza city council announced last week that it wants to make insurance mandatory for all cyclists and electric scooter users. The measure was proposed by the far-right party Vox and agreed to by the conservative People’s Party (PP). They say they want to end the ‘legal uncertainty’ when a cyclist is involved in an accident. If the measure passes, the northeastern Spanish city would be the first in Europe to force cyclists to take out civil liability insurance. Cyclists slam proposed mandatory insuranceCycling organisations have come out strongly against the idea. “Zaragoza would be an excep...
Euronews (English)
Europe's largest insurer Allianz revealed an increase in business volume of more than 5% for the first three months of the year, achieving a double-figure rise in net income for its shareholders. The German firm's net profit was €2.6 billion, 21.8% higher than the year before, with core earnings per share rising to €6.42 from €5.43 last year. Operating profit was up by 6.8% at €4 billion, driven by a stronger than expected result in its property-casualty segment, which benefited from higher prices and relatively benign claims from natural catastrophes and higher investment income. Munich Re st...
Euronews (English)
Shares in German reinsurance giant Munich Re rose on Wednesday after the company announced its first-quarter (Q1) 2024 results, clocking in a net profit of €2.14 billion, which was almost a 70% jump from the €1.2 billion seen in Q1 2023. This was mainly due to major-loss expenditure being less than anticipated, as well as a robust operational performance across the board - and investments yielding high returns. Insurance revenue from insurance contracts also increased to €15.1 billion in Q1 2024 from €14.2 billion in the first quarter of 2023. This was mainly due to the reinsurance sector seei...
Euronews (English)
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