Peak Reinsurance Company Limited, a Hong Kong-based global reinsurer, is pleased to announce that it has received from Moody's Investors Service an A3 insurance financial strength rating (IFSR); and the rating outlook is stable.
Romanian subsidiary of the German ALLIANZ Group, ALLIANZ-TIRIAC Insurance, recorded solid results in Q1, with increasing sales on all business lines and the consolidation of operational profitability, the company announced.
Starting July 1st, COMPENSA Vienna Insurance Group and SEESAM Insurance will complete the merger and become one insurance company. SEESAM, one of oldest insurers in the Baltics, entered the VIG family in 2008, with its life insurance unit, followed in 2018 by the acquisition of the non-life company.
Insurance Europe has today published its response to a white paper by the European Commission on its upcoming consultation on a framework for artificial intelligence (AI).
AXA XL today announced that Xavier Veyry has been appointed as CEO Asia & Europe. In taking up the role, Mr. Veyry will join AXA XL's newly configured Leadership Team, reporting to Scott Gunter, CEO.
During May 2020, severe weather events have hit multiple geographical areas across the world. During this month, more than 600 people have lost their lives because of NatCat events, while the total global economic losses exceeded USD 21 billion, the latest analysis published Aon shows.
A group of financial services trade associations - including Insurance Europe - has called for the creation of a centralized public register for Environmental, Social and Governance (ESG) data in the EU.
Armenian insurance market ended 1Q2020 with a decline in GWP by 4.19% y-o-y, the premiums volume amounting to AMD 15.8 billion (~EUR 28.59 million*). The market paid claims increased by 7%, to AMD 6.38 billion (~EUR 11.53 million*), according to the data of insurance companies, provided by ArmInfo.
The Croatian insurance market ended 1Q2020 with GWP worth HRK 3 billion (~EUR 402 million*), 4.12% up y-o-y. The largest contributions to the aggregate GWP, in absolute terms, came from the motor insurance classes, traditional life insurance and both property LoBs, according to the figures published by the Croatian Insurance Bureau.
According to the first-quarter 2020 figures published by the Albanian Financial Supervisory Authority (AFSA), the local insurance market amounted to over ALL 3,590 million (~EUR 27.47 million*), or 9.56% less compared to January - March 2019.
Zurich Insurance Group (Zurich) announced the successful placement of EUR 750 million of dated subordinated notes. The notes, which will mature in September 2050 and are first callable in June 2030, will be issued by Zurich Finance (Ireland) DAC.
From 2015 to 2019, the claims volume paid by local MTPL insurers to the victims of road accidents amounted to almost UAH 9 billion (~EUR 0.34 billion), according to MTIBU's (Motor Transport Insurance Bureau of Ukraine) analysis of the MTPL market dynamics.
For the first quarter of 2020, the loss after tax of INGOSSTRAKH amounted to RUB 442.3 million (~EUR 5.1 million) due to revaluation of securities in the company's portfolio, ASN reports with reference to the insurer's report on the financial results.
In 1Q2020, RESO-Garantia's GWP reached RUB 25 billion (~EUR 0.3 billion), which is 17.9% more y-o-y, according to the preliminary data released by the company. At the same time, the insurer's net profit amounted to RUB 14.7 billion, ASN reports based on the company's press service.
Sorainen, a fully integrated regional business law firm with offices throughout the region (in Estonia, Latvia, Lithuania, and Belarus), has advised ERGO Group on the sale of its non-life subsidiary in Belarus to the EUROINS Group, as CEE Legal Matters informed.
The Russian latest stealth drone Okhotnik (Hunter), developed by the Sukhoi Aircraft Company, will be insured for almost RUB 1.3 billion (more than USD 18 million), as TASS agency informed according to the government's web portal.
In the first quarter of 2020, the claims paid by O`zbekinvest Hayot insurance company, the leader of the insurance market in Uzbekistan, exceeded UZS 27.4 billion (~EUR 2.7 million), according to UzReport.
According to a recent report
of S&P Global Ratings, the agency believes that most insurers should be able to absorb COVID related claims and market volatility.
German insurer TALANX informed Jan WICKE, previously responsible on the Board of Management for the Retail Germany Division, will take over as CFO as from 1 September 2020. He will replace Immo QUERNER who will leave the company on the best of terms and by mutual agreement effective 31 August 2020. At the same time, GOTHAER manager Christopher LOHMANN was appointed as Board of Management member responsible for business in Germany.
GENERALI Global Business Lines (GBL) and GENERALI Global Corporate & Commercial (GC&C) announce key appointments to further enhance strategy execution.