Assicurazioni Generali SpA, Italy’s biggest insurer, said first-quarter profit fell 14 percent on lower income from its life insurance business and after record capital gains from last year weren’t repeated. The shares fell the most in three months. Net income declined to 588 million euros ($672 million) from 682 million euros a year earlier, the […]

Shares of Zurich Insurance Group AG headed for the biggest gain in more than four years after Switzerland’s biggest insurer posted a first-quarter profit that beat analyst expectations. The stock rose as much as 8.3 percent, and was trading 8.1 percent higher at 233 francs as of 3:39 p.m. in Zurich, paring losses this year […]

AMP Ltd., an Australian fund manager and insurer, declined the most in almost three years as it reported higher-than-expected insurance claim losses and said March quarter wealth management cash flows dropped. Shares in the Sydney-based firm fell 6.8 percent to A$5.44 at 11:59 a.m. in Sydney compared with a 0.5 percent decline for the benchmark […]

Allianz today confirmed its operating profit outlook of approximately €10.5bn (£8.3bn) for 2016, after experiencing what it called a strong start to the year. “The first quarter represented a great start to the year,” said Dieter Wemmer, finance chief of Allianz SE. “We are well on our way towards achieving our operating profit target in the range of […]

Mike Siegel of Goldman Sachs Asset Management reveals the results of a global survey on the strength of the insurance industry. He speaks on “Bloomberg ‹GO›.” (Source: Bloomberg)

American International Group Inc., which is shrinking under pressure from activist investors, is committed to retaining operations in both life insurance and property-casualty coverage, Chairman Doug Steenland said. “We remain of the view that that is the right long-term position for AIG,” Steenland said Wednesday at the company’s annual meeting in New York. “Although, the […]

Just Retirement saw sales fall 18% in the three months ahead of its merger with Partnership. The annuity providers completed their planned merger to form JRP Group at the start of April. In a market update published this morning, Just Retirement reported new business sales fell 18% from £276 million in the first three months of 2015 to £227 […]

China’s serial overseas acquirers tend to follow a familiar trajectory — a spurt of purchases that eventually tapers off as Beijing reins in their ambitions. With the insurance regulator probing Anbang Insurance’s funding and investments, one of this year’s most prominent buyers looks to have reached the waning phase sooner than most. Signs that Anbang’s honeymoon spree […]

American International Group (AIG) is quietly holding discussions with a number of buyers about the potential sale of a book of old US variable annuity (VA) business, The Insurance Insider can reveal. Sources said that AIG is looking to sell on a tranche of VA business with roughly $15bn of face value, and has been holding talks […]

Underwriter Hiscox has weathered the impact of Storm Katie and a new insurance tax to increase overall premiums by 10pc in the first three months of this year. The Lloyd’s of London insurer saw premiums rise to £641m during January to March across its global business, up from £562m in the same period last year, despite the […]