MAPFRE's net earnings in 2019 came in at EUR 609 million, 15.2 percent better than the previous year (FY2018: EUR 529 million), while Group revenues rose 7.1 percent to EUR 28.5 billion (FY2018: EUR 26.6 billion).
For the full year ended December 31, 2019, Everest Re Group reported a net income of USD 1,009.5 million, showing a substantial increase compared to FY2018 net income of USD 89.0 million.
In order to improve the financial strength of local insurers, Central Bank of Kosovo (CBK) introduced at the beginning of February 2020 a set of rules that will limit the overall commissions and operational costs of non-life insurers to a maximum amount of 24% of all non-life gross written premiums volume.
The Albanian Financial Supervisory Authority (AFSA) has announced the launch of a public online registry of all damages incurred for MTPL insurance policies, the insurance consumers being able to follow the course of their indemnities based on a unique identification number.
For the full financial year 2019, SCOR Global P&C experienced a strong gross written premiums growth, of 15.8% at current exchange rates, to EUR 7.1 billion. This was driven both by Reinsurance (+16.2%) and Specialty Insurance (+14.4%).
UNIQA confirmed purchasing AXA subsidiaries in Poland, Czech Republic and Slovakia growth markets, in an operation that will bring the Austrian group 5 million new customers and EUR 800 million in additional premiums for a purchase price of around EUR 1 billion.
In 2019, total state subsidies under the agroinsurance program amounted to GEL 5.84 million (~USD 2.02 million) while the number of beneficiaries of the program increased by 31% y-o-y, as Levan DAVITASHVILI, the Minister of Environmental Protection and Agriculture of Georgia, informed.
Total profit of the insurance market in 2019 decreased by 0.6% y-o-y, despite its GWP growth, and amounted, according to the regulator, to KZT 78.4 billion (EUR 0.18 billion), Allinsurance.kz reports.
French group AXA is in advanced talks to sell its CEE operations to Austria's Uniqa Insurance Group AG, said Bloomberg quoting people familiar with the matter and thus putting again under the limelight a market rumour started in the fall of 2019.
Cyber risks, climate change, managerial responsibilities, safety of bank transactions and new paying methods will be the topics of the "A New Era of Risks: Impact on business and property" conference, that will be held on the 1st of April in the hotel Crowne Plaza in Belgrade.
At the end of December 2019, MetLife reported net income of USD 5.7 billion for the full year (+15%) and a net income of USD 536 million (-73%) in the last quarter alone.
Victor DUBROVIN has been appointed the vice-president of the All Russian Insurance Association (ARIA). He will, among other things, develop life insurance and digitalization of the insurance market, ASN reports.
In 2019 almost 90% of car owners (33.8 million people) got MTPL discounts (bonus-malus coefficient less than 1) and 48% of all car owners (18.3 million people) had discounts of 20% or more, according to Igor YURGENS, the president of the Russian Association of Motor Insurers (RAMI).
Kazakhstan's insurance market is showing positive growth dynamics: assets in 2019 increased by 15%, to KZT 1.2 trillion, liabilities - by 13%, up to KZT 653 billion (which is 54% of the total assets), equity increased by 8%, to KZT 553 billion, as Madina ABYLKASYMOVA, the Chairman of the Agency of Kazakhstan for regulation and development of the financial market stated.
According to the data of the Financial Rating of Armenian insurance companies, prepared by ArmInfo, total net profit of local insurers in 2019 increased 7.3 times (vs. a decline by 67.6% in 2018), and reached AMD 1.4 billion (USD 3 million).
GWP of the Kazakh insurance market increased by about 32% y-o-y in 2019, to KZT 508.5 billion (EUR 1.19 billion), while the net premiums went up even by 43%, as the data, published by the National Bank show.
Last year, the Estonian insurance market posted aggregate GWP worth of EUR 493.83 million, 10.56% down compared with the previous year, according to FY2019 preliminary market figures published by the Estonian National Statistics Board.
The Turkish insurance industry totaled TRY 69.24 billion (EUR 10.37 billion) in premiums in 2019, according to data released by the Turkey Insurance Association (TSB). The figure represents a nominal increase in local currency of 26.69% over 2018, while the same indicator calculated in European currency was 14.90% due the deprecietion of Turkish Lira against Euro.
Hannover Re grew its premium volume in traditional property and casualty reinsurance by 14.0% adjusted for exchange rate effects in the treaty renewals as at 1 January 2020. The price increase for the renewed business amounted to 2.3%.
The 6.8-magnitude earthquake that hitted eastern Turkey on 24 January can generate losses for insurers, mentioning that about one third (35%) of houses localised in the affected province (Elazig) had been insured, informed Middle East Insurance Review quoting local officials