AVIVA announced the appointment of Doug BROWN as CEO of UK & Ireland Life Insurance. He is currently CEO of Canada Life in the UK and will join AVIVA's Group Executive Committee, reporting to AVIVA Group CEO, Amanda BLANC.
Based on its 2020-2022 strategy, the Group plans to generate more than EUR 685 million in operating revenue and to close 2021 with a net profit above EUR 53 million, which translates into a planned return on equity of at least 11.5%.
Rapid modernization, stability and consumer protection were the top priorities for the Bulgarian insurance market, as revealed during the latest international show of XPRIMM TIME for BUSINESS, aired on Wednesday, 16 December.
PERILS' initial estimate of the insured property market loss for the Izmir Earthquake, based on claims data collected from Turkish insurers, is TRY 532 million (EUR 55 million at exchange rate of 30 October 2020), the independent Zurich-based organization providing industry-wide catastrophe insurance data announced.
On the committee's recommendation, SCOR's Board of Directors has decided to separate the roles of Chairman and Chief Executive Officer. The separation will come into full effect following the General Meeting in the spring of 2022.
Insurance Europe has published its response to a joint consultation conducted by the European Commission and the Joint Research Centre (JRC) on the third technical report on Ecolabel criteria for retail financial products.
The Azerbaijan Insurers Association (AIA), together with the organizational support of the Central Bank of Azerbaijan, is carrying out a large-scale training program with the help of experienced insurance employees of Turkey, Trend reports citing the AIA.
KNF, the Polish authority for the financial markets' supervision has issued on 16 December a document concerning the dividend policy in 2021 for financial companies, including insurance companies, reinsurance companies and insurance and reinsurance companies.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Colonnade Insurance S.A. (Colonnade) (Luxembourg), a member of Fairfax Financial Holdings Limited (Fairfax) [TSX: FFH] group of companies. The outlook of these Credit Ratings (ratings) is stable.
From March 1, 2021, the sale of electronic MTPL policies will begin in accordance with the adopted Government decree "On additional measures to improve the procedure for providing electronic insurance services," UzReport informed.
In order to accelerate the insurer's digital transformation strategy, Generali Group and Accenture formed a joint venture named Group Operations Service Platform (GOSP) - that will leverage cloud technologies and shared technology platforms, according to a press release.
For the last 9 months of 2020 the market reached RUB 1.1 trillion/EUR 12.21 billion* (+3.1% in local currency), according to the data published by the Bank of Russia. The results were significantly impacted by the drop during the second quarter due to restrictive measures related to the pandemic.
At the end of 3Q2020, the Ukrainian insurance market amounted to almost UAH 33 billion (EUR 0.99 billion*), which means a decrease of 18.72% y-o-y (in UAH). At the same time, paid claims increased by 13%, according to data from the National Bank of Ukraine.
XPRIMM TIME for BUSINESS was held today, 16 December 2020, starting 16.00 hours (EEST) on the XPRIMM YouTube channel. This edition focused on the Bulgarian insurance market, discussing about the way it coped with the Covid-19 crisis and its perspectives for the future.
Insurance Europe has published its response to a consultation conducted by the Organisation for Economic Cooperation and Development (OECD) on the reports on its pillar two blueprint, which aim to create a single set of international tax rules to address base erosion and profit shifting (BEPS).
For the period from January to September 2020, GWP of the TOP-10 MTPL insurers increased by 7.4%, to RUB 135 billion (EUR 1.46 billion*), and their share in the segment reached 82.3% (vs 81.7% a year ago), ASN reports according to the Bank Russia.
The average commission of insurance brokers from January to September 2020 amounted to 14.6% - the lowest among the five main sales channels through insurance intermediaries, ASN reports according to the head of the Council of the Association of Professional Insurance Brokers Katerina YAKUNINA.