News

CROATIA Osiguraje's Q1 net profit up by 71%

ADRIS Group, the holding company owning CROATIA Osiguranje (CO), announced its insurance arm increased its Q1 2017 net profit by 71% y-o-y, to HRK 67.8 million (about EUR 9.1 million).

27.04.2017

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Statistics

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MARKETS & TRENDS

2017 is a revolutionary year for the Russian insurance market
2017 is an anniversary year. A hundred years after a series of key events in the history of our country and in one separate segment of the Russian economy such as insurance there will be also revolutionary events, after which the insurance market, apparently, will never be the same. More

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Press cuttings

Chubb Reports First Quarter P&C Combined Ratio of 87.5%

Chubb Limited (NYSE: CB) today reported net income for the quarter ended March 31, 2017 of USD 1,093 million, or USD 2.31 per share, compared with USD 439 million, or USD 0.97 per share, for the same quarter last year.  Operating income was USD 1,175 million, or USD 2.48 per share, compared with USD 1,019 million, or USD 2.26 per share, for the same quarter last year. The property and casualty (P&C) combined ratio was 87.5% for the quarter. Book value per share increased 1.7% and tangible book value per share increased 3.1% from December 31, 2016 and now stand at USD 105.35 and USD 62.52, respectively.

27.04.2017

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Interviews

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Klime POPOSKI
PhD, President of the Council of Expert Insurance Supervisory Agency Macedonia
In 2016, we have seen a progress on the health insurance line, which is a relatively new insurance product in Macedonia, with modest beginnings in 2013. Last year also brought a boom in unit-linked insurance, also a product only existing in the market since 2015.

INSURANCE & TECHNOLOGY

<!--sl-->Reducing the loss ratio by effectively detecting insurance fraud
Reducing the loss ratio by effectively detecting insurance fraud
Insurance fraud is a serious issue for the entire insurance sector. Payment of fraudulent claims has a negative effect on the loss ratio and on insurance premiums, which results into a competitive disadvantage. Moreover, investigating 'false positives' takes a huge amount of time and unnecessary costs. Fraudsters are getting smarter in their attempts to evade the insurer's radar. As a consequence, money flows to the wrong people and thus combined ratios are under pressure. Insurance companies must detect insurance fraud before claims are paid. The best way to reduce the loss ratio is to increase the chances of fraud detection at claims and limit false positives to a minimum.  More


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