Reinsurance rates have taken a slightly ascending path overall, but the trend is more visible in some regions as the pricing cycles' characteristics have changed, becoming more geography sensitive than in the past, a panel of experts have explained speaking at the S&P Global Ratings' Annual Reinsurance Roundtable at Monte Carlo.
Swiss Re expects further rate increases for loss-affected and underperforming businesses and broadly stable rates in other areas, amid continued capital abundance in the reinsurance market.
The world economy is less resilient now than in 2007 at the onset of the global financial crisis, according to the new Macroeconomic Resilience Indices jointly developed by Swiss Re Institute (SRI) and the London School of Economics (LSE).
The 63rd 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.
Vienna Insurance Group (VIG) starts operating in Sweden, Norway, Denmark and Finland. A locally established team of VIG underwriters will be offering insurance solutions to corporate customers through brokers, the Austrian group has announced.
SCOR has presented in Paris, at its annual Investor Day, the group's new strategic plan, "Quantum Leap". The plan runs from July 1, 2019 to until December 31,2021 to coincide with the new IFRS 17 accounting standard that the Group will implement effective January 1, 2022.
Guy Carpenter and CyberCube Analytics released the findings of a joint report that explores the size and shape of potential cyber catastrophes and the resulting financial impact on the U.S. cyber insurance market.
According to The Motor Insurers' Bureau of Latvia (LTAB), for the first half of 2019, the average MTPL indemnity was EUR 1,068, about 29% higher than the average MTPL claim from the first half of year 2016 (1H2016: EUR 826).
As of September 1, 2019, the limits of insurance indemnity for accidents, documented without traffic police, have increased from EUR 400 to EUR 800 in Belarus, the BELTA news agency informs.
Regulators of the Ukrainian financial market are inviting financial market participants, experts and international partners to discuss a new development strategy until 2025, Forinsurer reports.
The total number of MTPL e-policies issued in Ukraine between February 7, 2018 (the date on the system introduction) and to September 1, 2019, reached 768.2 thousand, data of MTIBU (Motor (Transport) Insurance Bureau of Ukraine), quoted by Forinsurer, show.
Between January - July this year, Kazakh insurers paid KZT 16.7 billion (~EUR 39 million) in the most popular individual insurance class, MTPL, which is 18% more y-o-y, according to Allinsurance.kz.
Insurance companies from Kosovo were exempted from paying the tax of 5% on turnover, including the 1% share that was redirected to the Red Cross of Kosovo.
The total gross premiums written abroad by the Croatian insurers amounted to HRK 235.6 million (EUR 31.76 million), three and a half times more y-o-y. Out of the total premium production, GWP on foreign markets accounted for 2.39% (in 2017, 0.73%).
France-based CCR Group released its first half of 2019 report. CCR, the public-sector reinsurer, reported a total amount of EUR 929 million written premiums (+3.5% y-o-y), while CCR RE, the global branch of the group, a total premium volume of EUR 441 million (+16% y-o-y).
Hungarian H1 insurers' GWP rose 11.3% year-on-year to HUF 591.5 billion (~EUR 1.8 billion) according to the quarterly market figures published by the National Bank of Hungary (MNB).
The gross written premiums of Albanian insurers increased by 5% year-on-year in the first half of 2019, reaching ALL 8 billion (EUR 66 million), official market statistics show.
In the first six months of 2019, the Tajik insurance market increased by about 4% in local currency, to TJS 97.40 million (EUR 9.07 million), according to the data, published by the National Bank of Tajikistan.
Critical issues emerging from the development and application of Artificial Intelligence and how IDD addresses the implications of Insurtech are just a few of the topics analyzed during the 8th AIDA Europe Conference, taking place in October in Lisbon.
For the second time in the last three years, Swiss Re has topped the Top 50 Global Reinsurance groups ranking released by A.M. Best, taking over the leadership from Munich Re, the undisputed leader since 2010, except for 2016. In fact, while Munich Re leads the non-life sub-ranking, while Swiss Re holds the first position in the life insurance one.