Solvency

Phoenix Holdings Publishes Financial Statements for Q4 and 2023

Retrieved on: 
Wednesday, March 27, 2024
Professional Services, Business, Insurance, Finance, Asset Management, Consulting, Banking, Friends, The Phoenix Companies, Growth, Memory, Share repurchase, Corporation, Policy, TLV, Acquisition, Tel Aviv Stock Exchange, Life, Credit, Solvency, Asset management, Report, SME, Analyst, Safety, Barzilai Medical Center, P&C, Holding, Collection, Pain, Rehabilitation, Mobile phone

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the fourth quarter of 2023 and calendar year 2023.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the fourth quarter of 2023 and calendar year 2023.
  • Phoenix is financially resilient with high levels of liquidity and a high Solvency II ratio for Phoenix Insurance, which reached 209% with transitional measures as of September 30, 2023.
  • Comprehensive income before tax in 2023 amounted to NIS 241 million, compared to NIS 235 million in 2022.
  • Comprehensive income before tax in 2023 amounted to NIS 307 million, compared to NIS 300 million in 2022.

EQS-News: Allianz SE: Allianz achieves record operating profit and shareholders’ core net income

Retrieved on: 
Wednesday, March 13, 2024
Acquisition, Financial instrument, Solvency, CSM, Management, Asset management, Growth, Roe, Health, Insurance, Policy, CIR, Finance, Economics, NBM, EPS, VNB, Internal

“Allianz extended our track record of delivering a record operating profit and core net income, consolidating our leading position as one of the world’s most resilient global insurers and active asset managers.

Key Points: 
  • “Allianz extended our track record of delivering a record operating profit and core net income, consolidating our leading position as one of the world’s most resilient global insurers and active asset managers.
  • Shareholders’ core net income increased to 2.4 (1.6) billion euros due to a higher operating profit and non-operating result.
  • 3 Core EPS and core RoE calculation based on shareholders‘ core net income.
  • “We’ve achieved another year of record results and all operating segments finished the year above or close to their operating profit target mid-points.

EQS-News: Allianz increases revenues by 4.5% to 36.5 billion euros - Group affirms full-year outlook

Retrieved on: 
Thursday, December 28, 2023
Roe, 3Q, Solvency, CSM, Economics, Trust, NBM, Asset management, Alpha, VOYA, Insurance, Allianz, Financial instrument, CIR, Growth, Internal, Finance, VNB, EPS, Environment, Chemical

We confirm with confidence our operating profit target of 14.2 billion euros, plus or minus 1 billion euros.

Key Points: 
  • We confirm with confidence our operating profit target of 14.2 billion euros, plus or minus 1 billion euros.
  • Favorable foreign currency translation effects of 34.4 billion euros and net inflows of 10.5 billion euros were largely offset by market effects of 37.1 billion euros.
  • 9M 2023: Operating revenues decreased by 5.9 percent to 5.8 billion euros mainly as a result of lower AuM-driven revenues.
  • Third-party assets under managementwere 1.670 trillion euros as of September 30, 2023, up by 35 billion euros from the end of 2022.

AM Best Affirms Credit Ratings of Assicurazioni Generali S.p.A. and Its Main Rated Subsidiaries

Retrieved on: 
Friday, December 8, 2023
Banking, Professional Services, Insurance, Finance, Solvency, Acquisition, Risk management, Risk, Credit, Long-Term Capital Management, Assicurazioni Generali, AM Best, EUR, Liberty Seguros, FSR, Generali, Bank

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries.
  • Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of debt instruments issued or guaranteed by Generali.
  • The Generali group reported a Solvency II SCR ratio of 224% as of 30 September 2023 (year-end 2022: 221%).
  • The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed with stable outlooks for Assicurazioni Generali S.p.A. and its following subsidiaries:

Phoenix Holdings Ltd. Publishes Financial Results for Q2 2023, With Continued Improvement in Income From Core Activities

Retrieved on: 
Thursday, August 24, 2023
Professional Services, Health, Insurance, Health Insurance, Finance, Personal Finance, Holding, Travel, Epsilon, Tel Aviv Stock Exchange, Moody's Investors Service, CASCO, Long-term care, P&C, Solvency, Incidence, Report, Corporation, TASE, Gama, NIS, The Phoenix Companies, Analyst, Total, Bank, Management, Retail, Real estate, Audit, Cryptocurrency, Health insurance, Psagot, Phoenix

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TASE:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the second quarter of 2023.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TASE:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the second quarter of 2023.
  • Total comprehensive income in the second quarter of the year amounted to NIS 217 million, compared to NIS 184 million last year, reflecting 9% return on equity.
  • Core income from activities in the second quarter of 2023 amounted to NIS 357 million, which reflects a 15% core (normalized) return on equity.
  • Phoenix reports an improvement in the loss ratio in the CASCO subsegment, despite the higher incidence of vehicle theft.

Allianz Increases Operating Profit by 7.1% to 3.8 Billion Euros

Retrieved on: 
Thursday, August 10, 2023
Asset Management, Professional Services, Insurance, Finance, Williams v Natural Life Health Foods Ltd, Asset management, VNB, Allianz, CIR, Property, Property & Casualty Management Systems, Multimedia, Solvency, Financial instrument, NBM, Growth, CSM, Roe, EPS, Internal, Economics, Economy of the Egyptian Armed Forces, Financial services, Gasoline, Clothing, Chemical, Bank, Renewable energy, Marketing, Security (finance), Transformer, Textile

View the full release here: https://www.businesswire.com/news/home/20230809567686/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230809567686/en/
    Chief Executive Officer of Allianz SE (Photo: Allianz SE)
    Operating profit increases 7.1 percent to 3.8 billion euros; strong performance particularly in Life/Health and Property-Casualty business segments
    Operating profit increases 14.9 percent to 7.5 billion euros: primarily driven by Life/Health and Property-Casualty business segments
    Excellent Solvency II capitalization ratio of 208 percent, compared with 201 percent at the end of 4Q 20221
    2023 operating profit target confirmed at 14.2 billion euros, plus or minus 1 billion euros2
    Share buy-back of up to 1.5 billion euros on track: 2.9 million shares acquired for 0.6 billion euros until the end of July 2023.
  • We confirm our full-year outlook of operating profit of 14.2 billion euros, plus or minus 1 billion euros.”
    2Q 2023: Total business volume rose by 8.0 percent to 17.6 (16.3) billion euros.
  • Operating profit rose 16.3 percent to 3.9 (3.3) billion euros, driven by a significantly higher operating insurance service result and an improved operating investment result.
  • Positive net inflows of 2.7 billion euros and favorable market impacts of 2.0 billion euros were offset by negative foreign currency translation effects of 10.5 billion euros.

EQS-News: Allianz SE: Allianz increases operating profit by 7.1% to 3.8 billion euros - Group affirms full-year outlook

Retrieved on: 
Thursday, August 10, 2023
Williams v Natural Life Health Foods Ltd, Asset management, VNB, Insurance, CIR, Property, Property & Casualty Management Systems, Finance, Solvency, Financial instrument, NBM, Allianz, Growth, CSM, Roe, EPS, Internal, Economics, Economy of the Egyptian Armed Forces, Security (finance), Financial services, Gasoline, Clothing, Chemical, Bank, Renewable energy, Marketing, Transformer, Textile

2Q 2023: Operating profit increased 7.1 percent to 3.8 (2Q 2022: 3.5) billion euros.

Key Points: 
  • 2Q 2023: Operating profit increased 7.1 percent to 3.8 (2Q 2022: 3.5) billion euros.
  • Shareholders’ core net income was strong at 2.5 (2Q 2022: 2.0) billion euros due to a higher operating profit.
  • We confirm our full-year outlook of operating profit of 14.2 billion euros, plus or minus 1 billion euros.”
    2Q 2023: Total business volume rose by 8.0 percent to 17.6 (16.3) billion euros.
  • Positive net inflows of 2.7 billion euros and favorable market impacts of 2.0 billion euros were offset by negative foreign currency translation effects of 10.5 billion euros.

S&P Maalot Raises Rating of Phoenix Holdings and Phoenix Insurance

Retrieved on: 
Tuesday, July 11, 2023
Professional Services, Insurance, Finance, Solvency, Holding, The Phoenix Companies, Face, TASE, Risk management, Phoenix

Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (“Phoenix,” the “Group,” or the “Company”), today announced that rating agency S&P Maalot raised the ratings of Phoenix Holdings and subsidiary Phoenix Insurance.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (“Phoenix,” the “Group,” or the “Company”), today announced that rating agency S&P Maalot raised the ratings of Phoenix Holdings and subsidiary Phoenix Insurance.
  • Phoenix Insurance rating raised to ilAAA with stable outlook, the highest rating among Israeli insurance companies
    According to rating agency S&P Maalot, Phoenix Insurance leads market with broad business diversification that contributes to strong performance, solid capital base, and high liquidity
    Phoenix Insurance is on par with leading Israeli banks, and upgrading of Phoenix Holdings reflects position as Israel’s leading financial group
    Rating agency S&P Maalot has rated Phoenix Insurance, the Group’s insurance subsidiary, ilAAA with a stable outlook, the highest rating ever given to an Israeli insurance company and the same rating it has given to Israel’s leading banks.
  • In addition, S&P Maalot rated Phoenix Holdings as ilAA.
  • The Phoenix has significant asset management, distribution, and credit businesses, which support the Group’s income generation and cash flows.

Aegon’s group supervision to transfer from Dutch Central Bank to Bermuda Monetary Authority

Retrieved on: 
Friday, June 30, 2023
Insurance, European Insurance and Occupational Pensions Authority, EIOPA, Capital market, Bermuda Monetary Authority, BMA, Aegon N.V., Central bank, Commonwealth of Australia (US securities entity), EGM, DNB, Solvency, Cyprus Securities and Exchange Commission, NAIC, Share repurchase, Dirección General de Seguros y Fondos de Pensiones, EUR, F-4, Euronext Amsterdam, Form, Holding, Insurance commissioner, Pension, NYSE, Security (finance), Cryptocurrency, Management, Bank, EU, Aegon

Consequently, group supervision to move from the Dutch Central Bank (DNB) to the Bermuda Monetary Authority (BMA)

Key Points: 
  • Consequently, group supervision to move from the Dutch Central Bank (DNB) to the Bermuda Monetary Authority (BMA)
    The Hague, June 30, 2023 - Aegon today announces that it intends to move its legal seat to Bermuda.
  • Subsequently, Aegon’s group supervision will transfer from the DNB to the BMA.
  • “I welcome the transfer of group supervision from the DNB to the BMA,” said Lard Friese, Aegon’s CEO.
  • The BMA will assume the role of group supervisor following the transfer of Aegon’s legal domicile.

AM Best Affirms Credit Ratings of ONIX Asigurari S.A.

Retrieved on: 
Thursday, June 22, 2023
Professional Services, Insurance, Finance, AM Best, ALL, Risk management, Solvency, Credit, AM, ONIX, News

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of ONIX Asigurari S.A. (ONIX) (Romania).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of ONIX Asigurari S.A. (ONIX) (Romania).
  • The outlook of these Credit Ratings (ratings) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .