News - Insurance
AM Best confirms Generali`s FSR of "A" (excellent). Outlook stable
Generali's Financial Strength Rating (FSR) was confirmed of "A" (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a+", as AM best have announced.
22 December 2020Accenture report: consumers want insures to handle personal cyber threats
Three out of four consumers (76%) would like to have assistance from their insurer in dealing with cybersecurity threats as the pandemic drives more consumers online, according to a press release of Accenture (NYSE: ACN).
22 December 2020BULGARIA: FSC postpones European Single Electronic Format (ESEF) reporting by one year
In 2013, the European Directive 2013/50/EC pushed all annual financial statements of issuers whose securities are admitted to trading on regulated markets in the EU to be drawn up in a single electronic reporting format (ESEF), starting from 1 January 2020. Because of the COVID-19 pandemic, the Financial Supervision Commission of Bulgaria (FSC) decided to postpone for one more year the implementation, allowing the companies to focus on the management of the pandemic crisis.
21 December 2020EIOPA: Any dividend distributions should not exceed thresholds of prudency
The European Insurance and Occupational Pensions Authority (EIOPA) published its December Financial Stability Report, shedding light on the financial stability risks in the European insurance and pension sector.
21 December 2020Insurance Europe: European Data Protection Board should take risk-based approach to international data transfers
A broad coalition of industry federations - including Insurance Europe - has published a joint statement raising concerns about a set of draft recommendations published by the European Data Protection Board (EDPB) in the wake of the European Court of Justice Schrems II decision.
21 December 2020Standard & Poor's confirms UNIQA with "A-" rating, stable outlook
On 18 December 2020, Standard & Poor's (S&P) confirmed its "A-" rating of UNIQA Insurance Group with a stable outlook. Positive factors in S&P's decision particularly included the company's strong market position in Austria, CEE and Russia, its leading role in health insurance in Austria and its "excellent" capital adequacy.
21 December 2020GROUPAMA to extend its geographical footprint on Croatian insurance market
French insurance group GROUPAMA announced its Hungarian subsidiary - GROUPAMA Biztosito and OTP Banka d.d., Croatian subsidiary of OTP Bank, signed an agreement on the sale and purchase of 100% of the shares of the insurance company OTP Osiguranje.
21 December 2020BBVA ALLIANZ Seguros begins operations in Spain
BBVA Allianz Seguros, the new bancassurance joint venture between ALLIANZ Seguros and BANCO BILBAO VIZCAYA ARGENTARIA (BBVA) announced in April of this year, will begin to operate in Spain.
21 December 2020CRO Forum names AEGON's CRO as new head
AEGON's Chief Risk Officer Allegra van HOVELL-PATRIZI has been elected as the new Chairlady for industry association CRO Forum. She will hold the position for the next 12 months.
21 December 2020AVIVA appoints Doug BROWN as CEO of UK & Ireland Life Insurance
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.
21 December 2020Sava Insurance Group prepared its annual plan for 2021
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%.
18 December 2020SCOR has named Jerome Guilbert as Chief Communications Officer
According to a press release, Jerome Guilbert will be Chief Communications Officer at SCOR starting with January 4, 2021.
18 December 2020XPRIMM TIME for BUSINESS: Perspectives for the Bulgarian re/insurance market in the context of Covid-19
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.
17 December 2020PERILS: initial loss estimate for the Izmir earthquake of 30 October 2020 at EUR 55 million
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.
17 December 2020Benoit Ribadeau-Dumas succeeds Denis Kessler as SCOR's CEO
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.
17 December 2020Insurance Europe: More time needed to discuss proposals for Ecolabel criteria for retail financial products
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.
17 December 2020AZERBAIJAN: Insurers' Association launches training program for actuaries
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.
17 December 2020POLAND: rules for divident payouts in 2021 issued by the KNF
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.
17 December 2020AM Best Affirms Credit Ratings of Colonnade Insurance S.A.
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.
17 December 2020UKRAINE: the renewed National Association of Insurers of Ukraine to be headed by Denis YASTREB
On December 16, 2020, 21 non-life insurers (GWP market share 55%, paid claims share 65%) and 10 life insurers (GWP share over 93%, paid claims share 98%) began the legal merger procedure, according to the website of the National Association of Insurers Ukraine.
17 December 2020XPRIMM Newsletter
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