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The carrier returned to profit in Q2, with premium income down as a result of portfolio remediation. -
Plus this week’s earnings and all the top news from the week.
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Hannover Re has estimated that the floods could end up costing the industry as much as EUR7.5bn.
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Michael Costonis will assume the new position of global head of marketing, strategy and innovation.
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The carrier’s combined ratio improved by seven percentage points thanks to reduced loss and acquisition costs.
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More than 100 fires have burned through provinces across Turkey, killing eight people as temperatures reach record highs.
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Storms in Spain during January and subsequent weather events across Europe in June impacted the P&C division.
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The Corporation said it is making “steady progress” in developing the recovering-from-loss journey for DA claims.
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The executive said the carrier would continue with its underwriting approach and benefit from pricing tailwinds.
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Axa almost doubled its profits at a group level, and the business expects claims of EUR400mn from recent European floods.
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The carrier reported 14.2% top-line growth and rate increases of 10.2%.
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The InsurTech is looking to expand into new product lines and geographies.
