The ceiling on MTPL premiums' value will remain in place for another year starting 1 January 2021, the measure aiming to provide for affordable rated for insureds, the Insurance and Private Pension Regulation and Supervision Authority (SEDDK), Middle East Insurance Review
Allianz-Tiriac Asigurari and Gothaer Group have announced the signing of a purchase agreement regarding the takeover of Gothaer Asigurari Reasigurari, this being the first acquisition of an insurance company made by Allianz-Tiriac after more than 25 years of organic growth.
From January to September 2020, Motor Hull GWP grew in local currency by only 1.4%, to RUB 123.1 billion (~EUR 1.33 billion*), while the average premium decreased by 17.5% to RUB 29.4 thousand.
From January to October 2020, the Azeri life insurance market totaled AZN 259.2 million (EUR 130.51 million*) exceeding the same period of 2019 by 16%, Trend reports
referring to the Azerbaijani Central Bank (CBA).
During 2019, almost 3.9 million vehicles registered outside the European Economic Area (EEA) entered Poland through its eastern borders with Belarus, Russia and Ukraine. Although the traffic at these borders remains high, the number of border policies issued during 2019 dropped by half when compared to 2018, Polish Motor Insurers' Bureau (PBUK) informs.
AM Best recently released a market segment outlook report for the global reinsurance market
, according to which the reinsurance industry maintains its 'Stable' due to multiple positive factors that absorbed many of the COVID-19 problems on the financial markets.
According to a press release, Guy Carpenter & Company, LLC, part of Marsh & McLennan Companies (NYSE: MMC) announced the appointment of Benjamin Keslowitz as US Life Leader, with immediate effect.
Aviva announced the appointment of Stephen Doherty as Chief Brand and Corporate Affairs Officer. Doherty will join Aviva's Group Executive Committee, reporting to the group's Chief Executive Officer, Amanda Blanc.
, 2020 marked four years since the system of direct settlement of losses in MTPL was launched in Ukraine. Now, 15 MTIBU (Motor Transport Insurance Bureau of Ukraine) member companies are members of this system, according to the Bureau's website.
On December 3rd
, 2020, the Belarusian insurance company BELGOSSTRAKH celebrated its 99th anniversary in insurance, according to the company's website
About 3,400 creditors of Standard Insurance have already received compensation from the Compulsory Insurance Bureau of Azerbaijan. Standard Insurance was declared bankrupt and its license was revoked
this year in May, Trend reports
with reference to the bureau.
On December 4, 2020 A.M. Best rating agency affirmed the financial strength rating of B+ (Good) and the long-term issuer credit rating of "bbb-" of AzRe Reinsurance (Azerbaijan), with positive outlook, according to the agency's report
GIC Perestrakhovanie LLC (Russia) (GIC Perestrakhovanie) has been assigned by AM Best with a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb", the Outlook is stable, according to a recent press release
Guy Carpenter & Company announced the appointment of Pietro Toffanello as Head of Japan in Q1 2021. In this role, Toffanello will be responsible for managing Guy Carpenter's business activities across Japan.
Reinsurance broker GUY CARPENTER (GC) part of MARSH & McLennan Companies (MMC), announced the appointment of Miles SHEPHARD as Managing Director and Head of GC Access, International, effective October 2021.
CHUBB announced that John KEOGH, Executive Vice Chairman of CHUBB Group and Chief Operating Officer, has been appointed President and Chief Operating Officer, effective immediately. He will continue to report to Evan G. GREENBERG, Chairman and CEO, and his current broad companywide responsibilities remain unchanged.
AVIVA announced the appointment of Adam WINSLOW as CEO of International. He will join AVIVA in January and will be responsible for AVIVA's international businesses in continental Europe and Asia.
2020 "Oscar di Bilancio" has been awarded to Milan-Generali for its 2019 Annual Integrated Report due to its clarity, methodological rigour and transparency.
On November 24, at the analytical conference "Life Insurance: Market Transformation", RSHB-Life Insurance was awarded a diploma in the nomination "Growth Leader of accumulative life insurance" based on a study of the life insurance market for 9 months of 2020, the insurer's press service reported
For 9 months of 2020, GWP of the Belarusian insurance market amounted to BYN 1.09 billion (EUR 355.72 million), which is 6.43% more y-o-y in local currency. At the same time, paid claims increased by 12.25% to BYN 577.79 million, according to the data published by the Ministry of Finance of the Republic.