ARMENIA: partnership in export insurance between representatives of Swiss Re and Malakut-Trade Credit Insurance
On September 4, the Minister of economic development and investments of Armenia, Artsvik MINASYAN, discussed partnership in export insurance with the chief insurance officer of Malakut-Trade Credit Insurance, Audrius ROSINASI, and Magnus NIGZHET, a Swiss Re representative, responsible for the export insurance line in Armenia, said ArmInfo.
STATISTICS: ARMENIA, H1 2018 result: growth of paid claims exceeded growth rate of premiums and amounted to almost 35%
Armenian market increased in local currency by 29.64% to AMD 22 billion (~EUR 39 million) in 1H2018, based on the data of ArmInfo portal. At that, growth rate of paid claims exceeded premiums and amounted to 34.91%.
ARMENIA, 1H: corporate insurance lines' growth rate increased from 8.5% to 58.2%
Based on the 1H2018 results, the growth rate of corporate insurance lines significantly increased from 8.5% to 58.2%, outperforming the individual insurance segment (2.7% to 6% increase), so that the share of this insurance in portfolio of local insurers reached 55.3%, wrote ArmInfo portal.
ARMENIA, 1H: loss ratio in MTPL and health insurance increased to 67% and 42.5% respectivelly
In Armenia as of July 1 this year loss ratio in MTPL and health insurance increased (from 55.6% to 67% and from 41.7% to 42.5% respectivelly), and Motor Hull saw an opposite trend- decline of loss ratio (70.6% vs 78.6% compared to the same period last year), wrote ArmInfo portal.
STATISTICS: ARMENIA, 1Q2018: INGO Armenia takes the market leadership after the first three months
In Q1 2018 Armenian insurers generated about 14 billion AMD of premiums, while in European currency this volume amounted to almost EUR 24 million, according to the information provided by ArmInfo news agency.
ARMENIA: further development of health insurance requires support from World Health Organization
The Head of the Armenian office of the World Health Organization (WHO), Egor ZAYTSEV announced that WHO will render technical assistance to Armenia in expansion of health insurance, as informed by ArmInfo.
Armenia: insurance market grew by 47.6% after Q1
During the first 3 months Armenian market generated AMD 14.1 billion of premiums, which is 47.6% more than e year before, paid claims amounted to AMD 5.7 billion (+36.9%), according to ArmInfo agency.
ARMENIA: MTPL loss ratio could hit 70% by the end of 2018
MTPL loss ratio may amount to 70% by the end of 2018, said ArmInfo with reference to the market forecast of the General Manager of the Armenian Bureau of Motor Insurers, Vaan AVETISYAN.
STATISTICS: ARMENIA, FY2017: claims expenses went up at a significantly higher pace than GWP
Claims expenses growth exceeded by far the GWP increasing pace in 2017, in the Armenian market. Thus, while paid claims went up by 24.9% - against 4.9% growth in 2016 -, GWP saw a y-o-y growth rate of only 6.2%, slightly improved as compared with the previous year (5%).
STATISTICS: Armenia, 3Q2017: GWP up by 3.78%; two Russian units account for about half of the insurance market
In 3Q 2017, gros premiums written by the local insurers have grown slightly, by 3.78%, to AMD 24,562.59 million (EUR 43.5 million), according to ArmInfo Agency data.
ON THE MOVE
Swiss Re: Andreas BERGER will succeed Agostino GALVAGNI as Corporate Solutions CEO and member of the executive committee group, starting April 2019
Swiss Re announced that Andreas BERGER, currently Chief Regions & Markets Officer and a Board Member of the Management of Allianz Global Corporate & Specialty SE, will be appointed Corporate Solutions CEO and member of the executive committee effective April 1 2019.
MILLI Re announced new Manager appointment
Turkish reinsurer MILLI Re stated that Gokhan AKTAS has been appointed to the position of Manager of Foreign Inward Business on 01 September 2018.
LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation
Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.
The challenges associated with digitization in the insurance sector discussed at the "Insurance in the Digital Future" Conference, in Ljubljana
On September 13, 2018, the Insurance Supervision Agency of Ljubljana organized its 4th conference on insurance. The subject of the event was Insurance in the Digital Future. Visit the event's web page to see the conference materials and photo gallery.
LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"
The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.
Munich Re: aggregation risk of cyber insurance is 'the elephant in the room'
Only 5% of cyber losses are insured, estimates Christian Fuhrmann, chief executive of global clients/North America, Munich Re. Very complex by nature and continuously changing, cyber insurance is one of the biggest challenges for insurers, he said.
AXA obtained approvals for XL acquisition. Last day of independence for XL Group
AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions.
FY2017 XPRIMM Property and Motor insurance reports to be launched in Monte Carlo
The latest editions of the XPRIMM Motor Insurance Report and Property Insurance Report will be launched in Monte Carlo, at the 62th edition of the "Rendez-Vous de Septembre," one of the most important international events dedicated to insurers, reinsurers, brokers, and reinsurance consultants.
Hannover Re: broadly diversified reinsurers with expertise and a very good rating will benefit from the current state of the market
Hannover Re expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019 and promising opportunities for next year arising from digitalization, increased demand for coverage of cyber risks, as well as from various openings in the Asian growth markets.
Willis Re - Market still soft, but functional
Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.