At the end of 2019, Russian MTPL GWP decreased by 3.4% y-o-y to RUB 220.2 billion (~EUR 3.17 billion), while paid claims, on the contrary, grew by 5.6%, to RUB 150.1 billion (~EUR 2.16 billion), as preliminary data of the Russian Association of Motor Insurers (RAMI) show, ASN reports.
As the preliminary data of the National Association of Agriculture Insurers (NAAI) show, the agroinsurance market at the end of 2019 amounted to RUB 5.3 billion (~EUR 76.4 million), as ASN reports.
Starting January 1, 2020, income tax amount was reduced and will reach soon 20%. Considering new income tax rates and increased minimum wage amount, citizens of the country will be able to receive extra AMD 1.5 billion (~EUR 2.84 million) monthly, ArmInfo reports.
Everest Re Group has announced that Artur KLINGER will join the Everest Reinsurance Division ("Everest Re") during mid-to-late 2020 as Managing Director of Continental Europe, succeeding Stephan KNIPPER who will retire after 33 years in the industry.
On January 27, 2020, CCR Re has announced the appointment of Bertrand PETRAS as Vice President of the company.
Insured losses from major natural catastrophes in 2019 totaled roughly USD 53.0 billion, about 18% lower than the annual average since 2011. This continues a relative period of calm compared to 2017, when the total loss reached a peak of USD 143 billion, according to the Summary of Natural Catastrophe Events 2019
, published by WILLIS Re, the reinsurance division of broking company WILLIS TOWERS WATSON.
ALLIANZ Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of ALLIANZ Group, appoints Henning HAAGEN as Chief Underwriting Officer Specialty and member of the Board of Management, subject to regulatory approval. Effective March 1, 2020, HAAGEN will succeed Paul O'Neill, who left AGCS in September 2019.
LLOYD's announced the appointment of Angela CRAWFORD-INGLE as a new Board member who succeeds Richard KEERS as Chair of the Audit Committee, effective immediately.
AVIVA announced that Sir Adrian MONTAGUE has informed the Board of his intention to retire as Chairman of the Company in 2020 once a successor has been appointed.
By the end of 3Q2019, the GWP in euro of the CIS regional insurance market recorded a total growth of 12.73% year-on-year, though the dynamics of the individual markets were quite heterogeneous, as the data collected and analyzed by XPRIMM show.
At the end of 3Q2019, the SEE insurance market
(inclusing Cyprus, Greece and Turkey) totaled about EUR 11.5 billion in GWP, 26.44% more y-o-y, according to preliminary figures centralized by XPRIMM.
Representatives of the 12 largest and most dynamic enterprises in the CEE - among which the PZU and TRIGLAV Groups -, have signed in Davos a memorandum forming the Business Council of Growing Europe, an initiative that will promote CEE as an attractive destination for investors and to support cooperation between business leaders from the region.
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Azerbaijan-based PASHA Insurance OJSC.
Willis Re recently announced the appointments of Cameron Green as head of International Casualty Reinsurance practice and John Philipsz as CEO of Willis Re Australia. Both appointments are effective as of 1 January 2020. Cameron and John will continue to be based in Sydney.
On January 21, 2020, TransRe announced a series of changes within its underwriting structure and promoted a number of key leaders.
On January 22, 2020, MetLife announced that Toby Srihiran Brown will become executive vice president and Chief Auditor, effective March 1 current year.
As of January 1st, 2020, Latvian legislation imposed mandatory smoke detectors for all residential buildings. Similarly, fire extinguishers became mandatory for every Latvian dwelling.
On January 22, 2020 Aon launched its Weather, Climate & Catastrophe Insight: 2019 Annual Report
. The report evaluates the impact of global natural disaster events to identify trends, manage volatility and enhance resilience.
According to a press release by the WEF, for the first time in the history of the Global Risks Perception Survey, environmental concerns dominate the top long-term risks by likelihood - extreme weather,climate action failure, natural disasters, biodiversity loss and human-made environmental disasters being the top 5 long term risks identified in the World Economic Forum's Global Risks Report 2020.
According to the preliminary results of 2019 summed up, the GWP of UNIVERSALNA insurance company (included in TOP-10 Ukrainian non-life insurers in 3Q2019) increased at the end of 2019 by 15% y-o-y, to UAH 950 million (~EUR 35.95 million), as Forinsurer reports.