Talanx AG, Germany’s third-biggest insurer, said first-quarter profit declined 7.7 percent on lower earnings at the German retail unit and higher claim payments.
Hannover Re, the world’s third-biggest reinsurer, reported that first-quarter profit was little changed as rates charged by the industry remain under pressure.
Munich Re, the world’s biggest reinsurer, said first-quarter profit declined 4.6 percent as lower claims at the property and casualty unit failed to offset a drop in prices.
Swiss Re Ltd., the world’s second- biggest reinsurer, exceeded analysts’ estimates in the first quarter as resilient earnings in its non-life business mitigated the decline its life and health unit.
Hannover Re, the world’s third- biggest reinsurer, has sufficient capital to offer investors a steady dividend and pursue potential purchases, Chief Executive Officer Ulrich Wallin said.
Property and casualty reinsurance prices declined on policies renewed for April 1 amid an oversupply of capital and muted demand from clients, according to Willis Re.
Hannover Re, the world’s third- biggest reinsurer, posted a 48 percent increase in fourth- quarter profit, beating analysts’ estimates.
Private-equity firms that focus on buying closed life insurance funds should invest for the long term to bolster the industry if they are to be tolerated, Germany’s financial regulator said.
Hannover Re, the world’s third- biggest reinsurer, said third-quarter profit fell 23 percent on lower investment income, beating analysts’ estimates.
European stocks were little changed, after swinging between gains and losses, as investors weighed economic data and the growing conflict in Ukraine for their impact on company earnings.
"The most important keys to this success were solid growth, a good underwriting result in non-life reinsurance and exceptionally pleasing investment income."
- Hannover Re on Mar 06, 2013