News - Insurance
UKRAINE: changes in the NBU exchange rates led to an increase in the cost of Green Card policies by 26.3%
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) has increased the cost of Green Card policies for those traveling abroad by 26.3% effective July 26, 2022. At the same time, the cost of these policies last changed on July 18, 2022, downward by 4.4%, Forinsurer wrote.
29 July 2022POLAND: poor condition of roads may affect MTPL prices
Poland ranked 26th in Europe and 43rd in the world in the road infrastructure quality ranking. Among the European countries, Poland only overtook Bulgaria, Turkey, Romania, and Croatia. The quality of roads was better assessed in Slovakia, Hungary, Lithuania, and the Czech Republic, Gazeta Ubezpieczeniowa reports.
29 July 2022KAZAKHSTAN: Assets of insurance organizations for the first half of the year increased by 7.7% to KZT 2.0 trillion (~EUR 4.12 billion)
The solvency ratio of the insurance sector as of July 1 of this year was 4.6 with a minimum value of 1, although it decreased compared to the beginning of 2022 under the influence of external shocks (as of January 1, 2022 - 6.3).
29 July 2022GEORGIA: Mandatory MTPL insurance may provide the sector extra GEL 200 million business
The insurance sector of Georgia has been waiting for the approval of the draft law on MTPL introduction for more than three years now. This draft law was registered in Parliament on December 31, 2018, but discussion has not yet begun. Experts expect the process to start this year, Business Georgia wrote.
29 July 2022NN Life & Pensions completes acquisition of the AAV life insurance subsidiary
NN Group, ABN AMRO Bank and their joint venture AAV (ABN AMRO Verzekeringen) announced that they have completed the sale of the life insurance subsidiary of AAV to NN Life & Pensions.
29 July 2022MMC posted strong end-June results
Global re/insurance broker MMC (MARSH McLENNAN) reported consolidated Q2 2022 revenue worth USD 5.4 billion, an increase of 7% compared with the second quarter of 2021. On an underlying basis, revenue increased 10%. Operating income was USD 1.4 billion, an increase of 11% from the prior year.
29 July 2022Generali co-opts Stefano Marsaglia to its BoD
The Board of Directors of Assicurazioni Generali announced the co-optation of Stefano Marsaglia as a member of the Board, following the resignation of Francesco Gaetano Caltagirone.
29 July 2022Alexander Vollert is appointed as a member of AXA's Management Committee
AXA announces the appointment of Alexander Vollert, AXA's Chief Operating Officer and CEO of AXA Group Operations (AXA GO), as a member of the Group's Management Committee, effective September 1st.
29 July 2022AXA Germany to sell a closed life and pensions portfolio
AXA announced that AXA Germany has entered into an agreement with Athora Deutschland GmbH, a licensed insurer in Germany, to sell a portfolio of EUR 16 billion of life and pensions insurance reserves in Germany.
29 July 2022Generali appoints Manlio Lostuzzi as CEE Regional Officer
Generali has appointed Manlio Lostuzzi as the Regional Officer of the Central Eastern Europe region, effective as of 1st September 2022. The region is part of the International Business Unit, headed by CEO Jaime Anchustegui.
29 July 2022Three new Members join EIG Board
Three new members will join the Board of Directors of Bulgarian Euroins Insurance Group (EIG), the insurance subholding of Eurohold. They are Todor Danailov, Kremena Pateva and Prasun Singhal.
22 July 2022POLAND: KNF published the final version of its recommendations regarding claim settlement in motor insurance
On July 18, the Polish Financial Supervision Authority (KNF) published the final version of its recommendations regarding claim settlement in motor insurance. This will replace the ones adopted in December 2014. It is expected that the recommendations will be applied by insurance companies no later than November 1, 2022, Gazeta Ubezpieczeniowa reports.
22 July 2022LATVIA: LAA: almost EUR 2 million paid by BALTA to vehicle owners this year
The summer season in Latvia is the most intensive time for road repairs. According to BALTA (PZU Group), during the summer months the number of claims for damaged car windshields increases almost twice. This year, the insurance company has already paid out over EUR 1.7 million to car owners for windshield damage, the Latvian Insurers' Association (LAA) reports.
22 July 2022CROATIA: The Croatian Insurance authority has published its new report "Insurance Market in the Republic of Croatia for 2021"
The Croatian Insurance authority has published its new report "Insurance Market in the Republic of Croatia for 2021", introductory part of which provides an overview of the basic general and macroeconomic indicators for the Republic of Croatia in 2021, as well as an overview of trends in the insurance market for the period 2005-2021, svijetosiguranja.eu wrote.
22 July 2022BULGARIA: ABZ: the market continues its positive development trend in the first three months of 2022
The insurance market continued to grow steadily in the first quarter of 2022. Considering that the data also covers the first month of the war in Ukraine (March), it can be said that the market demonstrates its solid foundation and resilience, the Association of Bulgarian Insurers (ABZ) wrote.
22 July 2022AZERBAIJAN: in the first half of the year compulsory health insurance increased by 44.4%
From January to June 2022, compulsory health insurance in Azerbaijan increased by 44.4% compared to the same period last year, reaching AZN 385.78 million (EUR 216.73 million), Trend.wrote.
22 July 2022ARMENIA: MTPL loss ratio decreased to 65% in the first half of the year
MTPL loss ratio in Armenia in the first half of 2022 decreased to 65% from 81% in the same period of 2021, which is even lower than the pre-Covid level of 73% in 2019, ArmInfo wrote.
22 July 2022NORTH MACEDONIA: EUR 8 million received by life insurers in the first three months
In Q1 2022, the five life insurance companies operating in North Macedonia concluded 14,000 new contracts with over 20,000 citizens insured. Premiums reached MKD 494 million/EUR 8 million, data provided by the ISA (Insurance Supervision Agency) show.
13 July 2022LITHUANIA: Lietuvos draudimas: losses of homeowners in the Q1 exceeded EUR 6 million
According to the data of Lietuvos draudimas, homeowners already suffered insured losses that exceeded EUR 6 million in the first quarter of this year. This is exactly the amount that was paid to the customers, and is 20% less y-o-y, draudimas.lt wrote.
13 July 2022CROATIA: at the end of June the market expanded by 7.53%
According to the Croatian Insurance Authority, in June the market totaled HRK 6.88 billion (~EUR 0.91 billion), which is 7.53% more compared to 2021, osiguranje.hr reports.
13 July 2022
