News - Insurance
Maksym Shylov appointed as GrECo's Group Practice Leader
GrECo announced Maksym Shylov's appointment as Group Practice Leader. He will be responsible for the strategy and development of this Specialty in all GrECo Group countries, including Poland where he will be located.
21 October 2020Insurance Europe: EC should make European Long-Term Investment Funds more attractive to long-term institutional investors
Insurance Europe has published its response to an inception impact assessment conducted by the European Commission on the revision of the European Long-Term Investment Funds (ELTIF) Regulation. The Commission's objective in developing ELTIFs is to attract investment from institutional and private investors to increase the amount of private finance available for European companies.
21 October 2020Aon: Year-end 2019 global premiums stood at an all-time high of USD 5.6 trillion
Aon has launched the 15th edition of its annual Insurance Risk Study, which provides data-driven analyses of the global insurance industry by business line and by region. The Study reviews the industry's performance in 2019 - providing data on premium and capital levels - evaluates areas of growth and profitability, and of potential risk.
21 October 2020AM Best affirmed Triglav's Financial Strength Rating and Long-Term Issuer Credit Rating
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Zavarovalnica Triglav d.d. (Triglav), the operating holding company of the Triglav group, and Pozavarovalnica Triglav Re, d.d. Ljubljana (Triglav Re), a wholly owned subsidiary of Triglav.
21 October 2020UKRAINE: new tariffs for Green Card policies to be effective from October 19
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) introduces new tariffs for Green Card insurance for travelling abroad by car, effective from October 19, OPEN4BUSINESS.COM.UA informed with reference to the Bureau.
20 October 2020RUSSIA: SBERBANK life insurance: every 5th consumer borrower insures against job loss
Since the beginning of 2020, about 2.5 million of Sberbank's customers have applied for Sberbank life insurance program when concluding a consumer lending agreement, and 20% of them included insurance against involuntary job loss as an additional option, the insurer informed in its press release.
20 October 2020KAZAKHSTAN: almost half of the compulsory employee accident insurance GWP comes from two life insurers
Almost half of the premiums under compulsory employee accident insurance in Kazakhstan from January to August 2020 were collected by two companies - NOMAD Life and HALYK-Life, allinsurance.kz reported.
20 October 2020KAZAKHSTAN: Fitch: Kazakhmys Insurance's IFS affirmed at 'BB-', Outlook Negative
Fitch Ratings has affirmed Insurer Financial Strength (IFS) Rating at 'BB-' and National IFS at 'BBB+(kaz)' (outlooks negative) of the Kazakhmys Insurance Company (Kazakhstan), according to the agency's report, published on October 16.
20 October 2020AZERBAIJAN: Amrah Sigorta to be liquidated
The insurance company Amrah Sigorta, which according to 1H2020 results ranked 17th in the Azeri market among 21 active companies, will stop its activity, as Trend reports.
20 October 2020AZERBAIJAN: a license issued to the United Agricultural Insurance Company
The United Agricultural Insurance Company received a license to carry out insurance activities. The license was issued by the Central Bank of Azerbaijan, as Trend said with reference to the Azerbaijani Agricultural Insurance Fund.
20 October 2020Mario CARINI, GENERALI: This year we are focused on strengthening our footprint on the Croatian market
Mario CARINI, CEO and President of the Management Board of GENERALI business units in Croatia pointed out in an interview - published on GENERALI CEE website given for Svijet osiguranje - all the turbulent challenges that marked the Croatian insurance market since its appointment in December 2019.
20 October 2020GREECE: The ETHNIKI investor to include in contract a target clause
National Bank of Greece is in advanced talks with CVC Capital Partners about the sale of ETHNIKI Insurance - the largest insurance company in Greece. The value of the transaction of sale of 80% of Greek insurer - mentioned by media is around EUR 460-480 million.
20 October 2020Swiss Re and Daimler to launch new mobility insurance business
Swiss Re and DAIMLER Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new company called MOVINX.
19 October 2020METLIFE announces senior leadership changes
MetLife announced a number of changes to its senior leadership team. All changes are effective on January 1, 2021, unless otherwise noted.
19 October 2020GC launches new unit to provide dedicated MGA business solutions
GUY CARPENTER, the reinsurance broker of MARSH & MCLENNAN Companies, announced the launch of a new business unit GC ACCESS to provide dedicated MGA program business solutions.
19 October 2020Employer medical benefit costs to more than triple the rate of inflation globally in 2021
The costs of employer medical benefits across the world are forecasted to rise 7.2% in 2021, outpacing general inflation by 5.0%, according to the "2021 Global Medical Trend Rates Report" released by AON
19 October 2020AXA has completed the sell of last CEE operations to UNIQA for EUR 1.0 billion
French insurer AXA it has completed the sale of its Life & Savings, Property & Casualty and Pension businesses in Poland, Czech Republic and Slovakia to Austrian UNIQA Insurance Group, for a total cash consideration of EUR 1.0 billion.
19 October 2020AM Best affirms A-level credit ratings of SAVE Re, outlook stable
Slovenian SAVA Re announced the rating agency AM Best affirmed the financial strength rating of the company of "A" (Excellent) and its long-term issuer credit rating of "a", both with a stable outlook.
19 October 2020UKRAINE: TAS insurance group sets a new sales record
TAS insurance group again set a sales record - GWP volume exceeded UAH 1.5 billion (~EUR 45.41 million*) as of October 7, 2020, Forinsurer writes.
16 October 2020RUSSIA: Expert RA: by the end of 2020, the market will drop by 4-5% y-o-y
The insurance market will continue to be under pressure of the economic downturn caused by COVID-19, and the market volume by the end of 2020 will reach approximately RUB 1.42 trillion (~EUR 15.65 billion*), having lost 4-5% of GWP, according to the study of the Russian leading rating agency Expert RA.
16 October 2020
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