AZERBAIJAN: the insurance market in 2018 may reach AZN 600 million
The Azeri market will continue to grow in 2018 according to the Chairman of the Mediator Committee of the Azerbaijani Insurers Association (ASA), Hayal MAMEDHANLI. Based on his opinion, the market may reach AZN 600 million this year (AZN 30 million more than in 2017).
AZERBAIJAN: Compulsory health insurance to be fully implemented within the next 5 years
Compulsory health insurance in Azerbaijan will be fully implemented within five years, according to the director of the State Agency for Compulsory Health Insurance under the Cabinet of Ministers of Azerbaijan Zaur ALIYEV.
AZERBAIJAN: Voluntary insurance premiums for January-July amounted to 73% of the market
For the first 7 months of the year insurers of Azerbaijan generated GWP in the amount of AZN 459.9 million (~EUR 230.87 million). Total market paid claims for the period reached AZN 145.9 million (~EUR 73.24 million), according to The Financial Markets Supervision Chamber of Azerbaijan.
AZERBAIJAN: profit of AzSigorta for the first 6 months this year exceeded AZN 4 million
AzSigorta, one of the leading Azeri insurers, generated AZN 4.2 million* of net profit for the first half year 2018, according to the company's official report.
STATISTICS: AZERBAIJAN, H12018: life segment went up by almost 73% thanks to the growth of voluntary insurance
In the first half year Azeri insurers generated GWP almost 44% more if compared to the same period last year, while paid claims of the market dropped by 4.10%, based on the data, published by the Financial Market Supervisory Authority of Azerbaijan.
AZERBAIJAN: Compulsory Insurance Bureau summed up half year claims' results
Compulsory Insurance Bureau of Azerbaijan summed up half year results in terms of the total number of insurance events and paid claims, as informed on the official website of the Bureau.
Azerbaijan: Agricultural insurance scheme to be established by the end of the year
A new law on agricultural insurance may be adopted before year end in Azerbaijan, Executive Director of the Financial Markets Supervision Authority (FIMSA) Ibrahim ALYSHOV said at the conference "Insurance in Azerbaijan: New Prospects" , organized by XPRIMM and Azerbaijan Insurers Association in Baku.
AZERBAIJAN: local insurance market following the results of VI Insurance conference
During VI Insurance conference the Executive director of the Financial Market Supervisory Authority Ibrahim ALYSHOV announced that the insurance market is demonstrating serious growth based on the forming macroeconomic environment.
AZERBAIJAN: Pasha Sigorta introduced the 1st international health insurance product in the country
The biggest local insurer Pasha Sigorta announced introduction of the 1st international health insurance product in Azerbaijan, according to the portal abc.az. At that maximal insurance amount within the product is USD 250 thousand and minimal premium is USD 769.
Azerbaijan: changes in the top-management of the Compulsory Insurers Bureau
Rashad AKHMEDOV is the new executive of the Azeri Compulsory Insurers Bureau (CIB), replacing Fariz AZIZOV, according to the Bureau's official report. Rashad AKHMEDOV officially assumed his duties from June 1, according to the report.
ON THE MOVE
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.
Catherine DUFFY to Join AIG as Country Manager of Bermuda
American International Group - AIG announced that Catherine DUFFY will join the company's General Insurance business as Country Manager of Bermuda, at a date to be determined.
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.