EUROINS Insurance Group (EIG) said in a statement that the Financial Supervision Commission (FSC) approved the merger of EUROINS Health Assurance, the Group's health insurance subsidiary, into EIG Re - formerly HDI Zastrahovane.  

The Bulgarian FSC - Financial Supervision Commission announced it has approved the 100% takeover of TOKUDA Health Insurance by the life insurer SAGLASIE. The transaction amount is of about EUR 3 million.

Belgian KBC Group anounced it has completed the acquisition of United Bulgarian Bank (UBB) and the leasing company INTERLEASE from the National Bank of Greece (NBG) for a total consideration of EUR 610 million.

Bulgaria's financial regulator (FSC - Financial Supervision Commisssion) announced it appointed external administrator to manage the assets of local specialised health insurer NADEJDA.

Bulgarian insurers ended 2016 with a 4.4% y-o-y growth in GWP, to BGN 2.05 billion (EUR 1.05 billion), while the aggregate value of net profit more than doubled, reaching EUR 61.68 million.

Bulgaria's insurance companies and pension funds are stable, though five small insurers will have to raise funds to meet capital requirements, an asset and a balance sheet review carried by the financial regulator showed on Friday, Reuters reports.

At the end of September 2016, the Bulgarian insurance market totaled about EUR 781 million, 8% more y-o-y, statistical data published by the FSC - Financial Supervision Commission show. Life insurers ended the first three quarters with an aggregate profit of EUR 16.9 million (vs. EUR 12.3 million in 3Q2015), while the non-life insurers reported an aggregated after tax result of EUR 33.1 million (vs. EUR 29.6 million).

Belgian-based KBC Group (KBC) and the National Bank of Greece (NBG), the Greek parent company of United Bulgarian Bank (UBB), reached agreement for KBC to acquire ownership of UBB (99.9%) - the fourth-largest bank in Bulgaria in terms of assets and INTERLEASE (100%), the third-largest provider of leasing services in the country, for a total consideration of EUR 610 million.

According to data published by the FSC - Financial Supervision Commission, Bulgarian insurers recorded in 1H2016 a GWP worth EUR 528.15 million, 5.6% up y-o-y. Two were the business segments with a relevant contribution to the market's growth: life insurance, which saw a record high growth in premium volume (~44%) on the Unit-Linked insurance line and the motor insurance lines, the Motor Hull and MTPL lines' contribution, in absolute terms, to the GWP growth being almost equal.

In connection with the decision of the Greek Central Bank, which does not approve the acquisition of the life insurance company of CREDIT AGRICOLE Life by EUROINS Insurance Group (EIG), the Bulgarian insurer decided to continue to grow its business in Greece by opening its own branch in the country, as the company announced on its website.

The 2017 edition of the Global Insurance Forum, an industry benchmark event organized by IIS- the International Insurance Society - ends today in London, after three days of debates. XPRIMM supports the Forum as Media Partner.

"Insurers have to play an important part not only in managing current risks, but also in modelling the future by contributing to a better understanding of risks, to closing the insurance gap and setting an example of responsible investment policy," HRH The Prince of Wales said in his welcome address at GIF 2017.

"Brexit and the Future London Market: Renaissance or Bust?" is the topic proposed by the Global Insurance Forum's organizers in the beginning of the event's first day.

The "Developed Market Dynamics Panel" has reviewed the main coordinates of the changes driven by the global economic environment's evolution and the technological progress in the insurance filed.

The panel titled "Leaders of Tomorrow: Engaging and Developing Our Emerging Talent" has put under debate the talent crisis' issue, exploring the means of getting young professionals more interested by the insurance field.

The panel titled "Emerging Markets Outlook" has explored the current status and the growth perspectives in the emerging insurance markets.