May 21, 2015
Zurich Insurance Group AG, Switzerland’s biggest insurer, will cut costs by more than planned as it seeks to reverse a drop in earnings. Chief Executive Officer Martin Senn said he will make additional annual savings of at least $1 billion …
May 12, 2015
Allianz SE, Europe’s biggest insurer, said first-quarter profit from asset management slid on outflows from Pacific Investment Management Co. Operating profit at the business, which consists of Newport Beach, California-based Pimco and Allianz Global Investors, fell 14 percent to 555 …
May 7, 2015
Zurich Insurance Group AG, Switzerland’s biggest insurer, said first-quarter profit fell 4 percent on lower earnings from general insurance and higher tax payments. Net income declined to $1.22 billion from $1.28 billion a year earlier, the Zurich-based insurer said in …
May 6, 2015
Allianz SE, Europe’s biggest insurer, said first-quarter profit climbed 11 percent, even as investors withdrew funds from its asset manager Pacific Investment Management Co. The shares surged the most in six months. Net income increased to 1.82 billion euros ($2 …
April 27, 2015
Allianz SE, Europe’s biggest insurer, was cut to underperform by Jefferies Group as the investment bank warned insurance stocks may face an industrywide sell-off. “If bond yields fall further from here, the sector will likely sell off as investors factor …
March 23, 2015
Talanx AG, Germany’s third-biggest insurer, said fourth-quarter profit rose 17 percent helped by investment gains as it sought to restructure its German retail division. Net income increased to 239 million euros ($259 million) from 203 million euros a year earlier, …
March 11, 2015
Munich Re, the world’s biggest reinsurer, will continue buying back shares as declining prices and lower investment income undermine earnings. Munich Re plans to repurchase an additional €1 billion ($1.056 billion) of its own shares before its 2016 shareholder meeting, …
March 10, 2015
Hannover Re, the world’s third-biggest reinsurer, plans to pay a special dividend after fourth-quarter profit rose more than analysts estimated, helped by low catastrophe claims. The shares climbed. Net income rose to 290 million euros ($313 million) from 265 million …
February 26, 2015
Allianz SE reported an unexpected decline in fourth-quarter profit as the exit of Bill Gross at Pacific Investment Management Co. (PIMCO) spurred clients to withdraw assets. The shares fell the most in five months. Net income fell to 1.22 billion …
February 25, 2015
Europe’s insurers are preparing to boost dividends to the highest of any industry except utilities, making use of expanding surplus capital to offer investors an alternative to record low interest earnings from bonds. Companies including Allianz SE, Europe’s biggest insurer, …