During the first six months of 2020, the insurance market of North Macedonia amounted to MKD 5.2 billion (~EUR 83 million*) in gross premiums written (GWP) and MKD 1.8 billion (~EUR 29 million*) in claims paid. The overall GWP of the market decreased by 1.7%, while consolidated claims decreased by 6.8%, in local currency.
Wednesday, 30 September at 14.00 EEST, XPRIMM TIME FOR BUSINESS will be again on air, on the XPRIMM TV YouTube channel
, with an edition dedicated to the Georgian insurance market. How did insurers cope with the difficulties raised by the Coronavirus outbreak and what are the market perspectives for the next period, are the two questions that our guests will answer.
The first half of 2020 ended for the Bosnian insurers with total GWP of EUR 191.7 million, 2% less y-o-y, a result mainly driven by the non-life segment's decrease in premiums volume, especially on the credit insurance and Motor Hull insurance lines.
Willis Re launched a new report about cyber attacks according to which surveyed risk professionals believed the overall level of cyber attacks will increase as a result of COVID-19. Of nearly 1,000 respondents to Willis Re's 2020 Cyber Risk Outlook survey, 86% believe frequency will increase, and 54% believe severity will rise, according to the annual, global survey by the reinsurance division of Willis Towers Watson.
Munich Re announced the issue of a subordinated green bond, with the volume issued amounting to EUR 1.25 billion. This bond highlights Munich Re's commitment to using the capital markets to help achieve a climate-friendly transformation of the economy.
PZU Group announced that from mid-September, PZU Auto has an additional variant of Legal Protection insurance. Thanks to it, drivers get quick and easy access to legal services in Poland and Europe.
PZU announced a new product that will cover the damages caused by the holders of motor third party liability insurance also while driving a personal transport device - in short the UTO. This includes bicycles, segways and scooters which are becoming more and more popular in Poland.
The insurance market of Kosovo totaled EUR 46.36 million at the end of June 2020, 4.29% less y-o-y, data provided by the Central Bank (CBK) showed.
On the evening of June 11, a high-risk fire broke out in the meat processing and production workshop of the company "Lido", located in Riga. The flames had affected a two-story production building - a hangar-type warehouse, an administrative room and a smoking workshop. During the fire, a total of 600 square meters of premises were damaged.
In the first half of 2020, the inflow of foreign direct investment decreased 2.4 times y-o-y, to USD 164.4 million, according to the National Statistical Committee of the Kyrgyz Republic.
Aon published its first six months of 2020 Reinsurance Aggregate report ('the ARA'), series tracking the financial performance of leading reinsurance carriers in the global market. The report found that reinsurers' capital position remained robust at the end of 1H2020, after a strong capital market recovery in the second quarter.
It is estimated that about 140 thousand unregistered / uninsured vehicles circulate on the roads of Kosovo, which cause damage to millions of insurance companies, but also the Kosovo budget, the Insurance Association of Kosovo reports
Between 24 and 25 November, The Future of Insurance Europe online event, organized by Reuters Events and supported by XPRIMM Publications, is set to take the industry by storm.
Belgium-based holding company active in the banking, insurance and asset management sector - KBC Groep NV announced its BoD appointed Koenraad DEBACKERE as Chairman of the Board of Directors succeeding Thomas LEYSEN.
The Romanian new created non-life insurer NN Asigurari, part of Dutch NN Group received from the Financial Supervisory Authority - the authorization to operate as non-life insurer on local market.
The Central Bank of Hungary (MNB) intend to change the premiums paid by customers on MTPL insurance (kgfb in Hungarian) by January 1, 2021. About a week ago, it calls local insurers to review the tarrifs taking into account the "kgfb database" which has been accessible to insurers now for three quarters.
As a result of the Covid-19 pandemic, the P&I WorldPensionSummit 2020, supported by XPRIMM Publications as Media Partner, becomes a fully virtual experience, offering a series of benefits for its delegates.
Yulia GAVRILINA has been appointed as Reinsurance Director of SBERBANK Insurance, as the company announced on September 21, 2020.
On September 11, 20202, a resolution of the Council of Ministers of the Republic of Belarus was adopted, which amended the procedure for transferring obligations by insurance companies under voluntary insurance contracts, insurance reserves and fund balances of preventive measures to other insurance companies, according to the website of the Ministry of Finance
Ilijana Jelec, Member of the Management Board of the Croatian Financial Services Supervisory Agency (HANFA), said that Croatian insurance market GWP is expected to drop by 4.4% year-on-year, at the end of 2020.