Austrian insurers face a challenging domestic market but should benefit from their strength in Central Eastern and South-Eastern Europe, Fitch said.
VIG Re reports, the reinsurance arm of Austria’s Vienna Insurance Group a 17.8% increase in pre-tax profit to €24.3m, for 2012
The top five stories from www.insuranceinsight.com over the past seven days.
Austria's Vienna Insurance Group says is will become the number one insurer in the Macedonian market, following its acquisition of a majority stake in QBE Makedonija.
Vienna Insurance Group posted a 5.1% increase in profit before taxes to €587.4m in 2012, the highest profit in the company's history.
The European Commission has appointed Klaus Wiedner to replace Karel Van Hulle as head of unit dealing with pensions and insurance in the Internal Market Directorate General.
Last year, according to the Norton Cybercrime Report, global cybercrime cost an estimated $388bn. That's $100bn more than the cost of the global black market for marijuana, cocaine and heroin combined. And just like the world's drugs trade, cybercrime is not just a US problem.
Vienna Insurance Group posted 9.5% premium growth in the in its preliminary full year results for 2012, published today.
Standard & Poor's has affirmed the 'A' long-term counterparty credit and insurer financial strength ratings of Italy-based Assicurazioni Generali and its "core" subsidiaries'.
The Uniqua Group has confirmed the sale of its interests in Austria Hotels International Group in order to focus on its core insurance business.
Peter Hagen has been reappointed chairman of the managing board of Vienna Insurance Group.
Vienna Insurance Group has posted a 7% increase in group profit before taxes to €443.2m, in the first three quarters, driven by strong growth in Central and Eastern Europe.
Johannes Martin Hartmann has been appointed to the managing board of VIG Re with effect from 1 October.
Austrian political risk insurer Garant Versicherungs AG and state-owned export credit agency Asuransi Ekspor Indonesia have entered into a commercial partnership to improve the export credit and political risks cover available to their clients.
Vienna Insurance Group AG Wiener Versicherung Gruppe has signed an agreement to take a majority stake in Macedonian insurer QBE Makedonija.
Vienna Insurance Group AG Wiener Versicherung Gruppe has commenced an invalidation procedure with regard to shares represented by paper certificates.
The Uniqa Group has posted first-half earnings before tax up 43.2% to €106.5m (2011: €74.4m).
The Vienna Insurance Group has posted a 7% increase in profit for the first half of 2012 compared to 2011, helped by a 13% growth in profit from Central and Eastern Europe.
Vienna Insurance Group has completed the merger of non-life insurers InterRisk and PZM, concentrating its market presence in the core Polish market.
The top five European stories from www.insuranceinsight.com over the past seven days.
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