Fairfax Financial Holdings Limited announced fiscal year 2019 net earnings of USD 2,004 million compared to fiscal year 2018 net earnings of USD 376 million, primarily reflecting net gains on investments.
David BARANYAI, currently CSO NN Hungary, has been appointed CEO NN Insurance Hungary on an ad interim basis, subject to regulatory approval. The appointment is effective as of 17 February 2020.
AIR Worldwide estimates insured losses for winter storm Ciara-Sabine will be between EUR 1.1 Billion and EUR 1.9 Billion, while RMS sets the upper limit to EUR 1.8 billion. Both agree also that Germany, France, and the United Kingdom are the areas most affected.
Zurich Insurance Group (Zurich) announced a net income of USD 4,147 million for the year 2019, 11.6% higher than the level recorded at the end of 2018 (FY2018: USD 3,716 million)
At the end of the second half of 2019, Aegon's net income increased significantly to EUR 910 million (+260%), while full year net income more than doubled to EUR 1,528 million (+105%).
Turkey's sovereign wealth fund announced its TVF Finansal Yatirimlar unit had agreed to purchase France-based Groupama Holding SA's 10% stake in Turkish insurer GUNES Sigorta, Reuters reported, quoting a statement from the sovereign wealth fund. No further details including financial terms of the transaction were available.
About 10,000 claim files were reported by Hungarian insurers following the first week of February's storms, Budapest Business Journal reported quoting MABISZ (the Hungarian Association of Insurers) representatives.
Lloyd's of London announced the appointment of prominent figures as the inaugural members of its Culture Advisory Group.
In 2019, the Armenian insurance market grew by 19.79% in local currency, its GWP amounting to AMD 49.13 billion (~EUR 91.45 million), according to the data of insurance companies, provided by ArmInfo.
The Montenegrin market reported a 9% y-o-y growth in FY2019 GWP, to EUR 94.76 million, according to the preliminary figures published on the ISA's web-site.
The gross written premiums of Croatian insurers increased by 7% y-o-y to HRK 10.54 billion (EUR 1.42 billion) in 2019, according to the preliminary figures published by the Croatian Insurance Bureau.
IIF 2020 - MOTOR INSURANCE - "A glimpse in the future", the fourth conference organized in Vienna under the titles International Insurance Forum, will take place on 6 April, with a rich agenda bringing under the limelight the latest trends in the industry. Early bird rates are only available until 15 February.
Swiss Re Corporate Solutions appoints Marc Scheidegger as Chief Claims Officer. Subject to approval by the relevant authorities, Scheidegger will assume the role on 1 June 2020 and join the Swiss Re Corporate Solutions Executive Committee.
Swiss Re Corporate Solutions has appointed Bianca Willauer as Head Property & Specialty Lines, EMEA, effective 1 February 2020.
Bosnian subsidiary of the Serbian DUNAV Osiguranje said it plans to give up its life insurance business, remaining active in non-life insurance only, reports SeeNews quoting a company document filed with the Banja Luka Exchange Stock.
Vienna Insurance Group (VIG) announced the acquisition of an interest of around 20% in the German start-up ViveLaCar GmbH, which is headquartered in Stuttgart. VIG's acquisition will help ViveLaCar's planned expansion into Austria and Switzerland in spring 2020.
TAS Insurance group, one of TOP-5 insurance companies of Ukraine, reported that the group's GWP reached UAH 1.81 billion (~EUR 68.5 million) in 2019, which is 30.8% more y-o-y, Forinsurer writes.
According to the Russian National Reinsurance Company (RNRC), its GWP amounted to RUB 14 billion (~EUR 0.2 billion) in 2019, while its profit exceeded RUB 3 billion (EUR 43.24 million), as Natalia KARPOVA, President, Chairman of the Board of RNRC, announced.
The Russian financial ombudsman service was included into the International Network of Financial Services Ombudsman Schemes. This decision was made at the meeting of the Organization's Committee, as ASN reports with reference to the Chief Financial Ombudsman, Yuri VORONIN.
In January 2020, Fitch Ratings, a leading provider of credit ratings, took rating actions over Lithuania, Greece, Azerbaijan and Slovenia, upgrading the first two countries' ratings and affirming the others' Long-Term Foreign-Currency Issuer Default Rating (IDR).