Solvency

DGAP-News: Allianz SE: Allianz achieves 3.5 billion EUR operating profit in 2Q - Group confirms full-year outlook

Retrieved on: 
Friday, August 5, 2022 - 7:01am

2Q 2022: Operating profit increased 5.3 percent to 3.5 (3.3) billion euros, driven by improved underwriting and investment results in the Property-Casualty segment.

Key Points: 
  • 2Q 2022: Operating profit increased 5.3 percent to 3.5 (3.3) billion euros, driven by improved underwriting and investment results in the Property-Casualty segment.
  • 6M 2022: Operating profit increased 1.2 percent to 6.7 (6.7) billion euros, driven by higher operating profit in the Property-Casualty and Asset Management business segments.
  • We confirm our full-year outlook of operating profit of 13.4 billion euros, plus or minus 1 billion euros.
  • Operating profit rose 5.2 percent to 3.0 (2.9) billion euros, largely driven by a significantly higher operating investment result.

Half-year 2022 results - The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCOR’s profitability in H1 2022

Retrieved on: 
Thursday, July 28, 2022 - 6:21am

The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCORs profitability in H1 2022.

Key Points: 
  • The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCORs profitability in H1 2022.
  • The combination of these events has significantly affected SCORs results, leading to a net loss of
    EUR -239 million for the first half of 2022, of which EUR -159 million was incurred in the second quarter.
  • The reduced profitability notably reflects the cost of the claims related to the drought that impacted corn and soy crops in southern regions of Brazil.
  • SCOR is currently adopting a more selective approach in Reinsurance P&C Lines, however the H1 2022 GWP growth is still benefitting from recent underwriting years.

Harris Williams Advises Prima Solutions on the Sale of Prima XL to Duck Creek Technologies

Retrieved on: 
Wednesday, July 13, 2022 - 6:28pm

Harris Williams , a global investment bank specializing in M&A advisory services, announces it advised Prima Solutions on the sale of Prima XL, France-based Prima Solutions flagship commercial reinsurance technology solution, to Duck Creek Technologies (NASDAQ: DCT; Duck Creek), the intelligent solutions provider defining the future of property and casualty (P&C) insurance.

Key Points: 
  • Harris Williams , a global investment bank specializing in M&A advisory services, announces it advised Prima Solutions on the sale of Prima XL, France-based Prima Solutions flagship commercial reinsurance technology solution, to Duck Creek Technologies (NASDAQ: DCT; Duck Creek), the intelligent solutions provider defining the future of property and casualty (P&C) insurance.
  • Throughout the sale process, Harris Williams provided outstanding support and advice to Prima Solutions.
  • The team was pivotal in successfully positioning Prima XL and Prima Compliance, leading to an exceptional outcome.
  • Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

AM Best Assigns Credit Ratings to ONIX Asigurari S.A.

Retrieved on: 
Wednesday, July 13, 2022 - 4:41pm

AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of bb (Fair) to ONIX Asigurari S.A. (ONIX) (Romania).

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

Duck Creek leads a new era in reinsurance software with its agreement to acquire the premier cloud-based solution, Prima XL

Retrieved on: 
Tuesday, June 28, 2022 - 7:30am

The transaction terms also include an agreement by Duck Creek to purchase Prima Compliance for Solvency II, a compliance solution which Duck Creek intends to continue offering in the French marketplace.

Key Points: 
  • The transaction terms also include an agreement by Duck Creek to purchase Prima Compliance for Solvency II, a compliance solution which Duck Creek intends to continue offering in the French marketplace.
  • Upon completion of the proposed transaction, dedicated Prima Solutions personnel will join Duck Creek to support Prima XL and Prima Compliance sales, customer success, and operations.
  • The Prima XL reinsurance management solution will be available to insurance organizations operating on Duck Creek systems and systems other than Duck Creek.
  • Julien Victor, CEO of Prima Solutions, would join Duck Creek as managing director, reinsurance management to continue leading the growth and expansion of Prima XL and Prima Compliance under Duck Creeks stewardship.

Wolters Kluwer CCH® Tagetik ESG & Sustainability Performance Management expert solution honored with esteemed Stevie Award in 2022 American Business Awards®

Retrieved on: 
Thursday, June 9, 2022 - 4:00pm

NEW YORK, June 9, 2022 /PRNewswire/ -- Wolters Kluwer, a global leader in professional information, software solutions, and services, has been recognized by the prestigious, 2022 American Business Awards® with a Bronze-level win for its CCH® Tagetik ESG & Sustainability Performance Management solution. The award recognizes business achievements and product innovation, and winners are determined by entry scores compiled by more than 230 professionals worldwide who adjudicated more than 3,700 nominations from organizations of all sizes and in virtually every industry over a two-month judging period.

Key Points: 
  • NEW YORK, June 9, 2022 /PRNewswire/ -- Wolters Kluwer , a global leader in professional information, software solutions, and services, has been recognized by the prestigious,2022 American Business Awardswith a Bronze-level win for its CCH Tagetik ESG & Sustainability Performance Management solution.
  • The Bronze Stevie Award marks the first industry win for CCH Tagetik ESG & Sustainability software, a solution that addresses ESG evolving regulations, and streamlines data collection, calculation, and KPI disclosure.
  • The software helps organizations gain control, meet compliance requirements, and improve ESG scores while supporting strategic, sustainable growth.
  • The American Business Awards are the U.S.A.'s premier business awards program.

Wolters Kluwer CCH® Tagetik ESG & Sustainability Performance Management expert solution honored with esteemed Stevie Award in 2022 American Business Awards®

Retrieved on: 
Thursday, June 9, 2022 - 4:00pm

NEW YORK, June 9, 2022 /PRNewswire/ -- Wolters Kluwer, a global leader in professional information, software solutions, and services, has been recognized by the prestigious, 2022 American Business Awards® with a Bronze-level win for its CCH® Tagetik ESG & Sustainability Performance Management solution. The award recognizes business achievements and product innovation, and winners are determined by entry scores compiled by more than 230 professionals worldwide who adjudicated more than 3,700 nominations from organizations of all sizes and in virtually every industry over a two-month judging period.

Key Points: 
  • NEW YORK, June 9, 2022 /PRNewswire/ -- Wolters Kluwer , a global leader in professional information, software solutions, and services, has been recognized by the prestigious,2022 American Business Awardswith a Bronze-level win for its CCH Tagetik ESG & Sustainability Performance Management solution.
  • The Bronze Stevie Award marks the first industry win for CCH Tagetik ESG & Sustainability software, a solution that addresses ESG evolving regulations, and streamlines data collection, calculation, and KPI disclosure.
  • The software helps organizations gain control, meet compliance requirements, and improve ESG scores while supporting strategic, sustainable growth.
  • The American Business Awards are the U.S.A.'s premier business awards program.

Phoenix Holdings Reports Results for the First Quarter of 2022

Retrieved on: 
Tuesday, May 31, 2022 - 2:17pm

Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (Phoenix or Company), today reported its results for the first quarter of 2022.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (Phoenix or Company), today reported its results for the first quarter of 2022.
  • In 2022, Phoenix Holdings will distribute dividends to its shareholders semiannually, based on 30% of the annual comprehensive income.
  • Phoenix Holdings reports its financial results for the Q1 2022 reflecting the continued execution of the strategic plan.
  • Phoenix Holdings is a leading Israel-based diversified financial, insurance, and investment group traded on the Tel Aviv Stock Exchange (TASE: PHOE).

AM Best Adds ‘Solvency II Life Underwriting by Line of Business’ Analysis Feature to Best’s Financial Suite – Solvency II

Retrieved on: 
Thursday, May 26, 2022 - 5:25pm

Bests Financial Suite Solvency II subscribers can now automate their analysis of Solvency II life line-of-business data using a new BestLink for Excel data template feature.

Key Points: 
  • Bests Financial Suite Solvency II subscribers can now automate their analysis of Solvency II life line-of-business data using a new BestLink for Excel data template feature.
  • The new template, Solvency II Life Underwriting by Line of Business, derived from QRT Form 05.01.02.02, allows users to generate life by-line premiums, claims and expense data and ratios for selected companies and refresh the data at the push of a button.
  • This enhancement also allows subscribers to create reports for life by-line data in BestLink for Excel and integrate the data with other analyses using standard Excel features.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Hotai Insurance adopts CCH® Tagetik expert solution from Wolters Kluwer to meet IFRS 17 requirements

Retrieved on: 
Tuesday, May 24, 2022 - 2:00pm

TAIPEI, Taiwan, May 24, 2022 /PRNewswire/ -- Wolters Kluwer, a global leader in professional information, software solutions and services, today announces that Hotai Insurance has adopted CCH® Tagetik IFRS 17 expert solution to meet the requirements of IFRS 17 and automate its data processes for timely reporting. The project will be jointly led by the Taiwanese partner, Anhou Enterprise Management Co.

Key Points: 
  • TAIPEI, Taiwan, May 24, 2022 /PRNewswire/ -- Wolters Kluwer , a global leader in professional information, software solutions and services, today announces that Hotai Insurance has adopted CCH Tagetik IFRS 17 expert solution to meet the requirements of IFRS 17 and automate its data processes for timely reporting.
  • IFRS 17 goes into effect on January 1, 2023, and it is expected that Taiwan will officially implement this international standard in 2026.
  • Following a critical evaluation of various vendors, Hotai recognized the complexity and challenge of the IFRS 17 requirements, and selected CCH Tagetik as the best software solution for accelerating its related financial transformation.
  • "With the deadline approaching, it is critical for clients to have a professional system that can facilitate the smooth transition to IFRS 17," said Michael Chung, General Manager of Greater China, CCH Tagetik at Wolters Kluwer.