News - Insurance

STATISTICS: NORTH MACEDONIA, 1H2020: Property insurance grew by 20.5%

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.

Willis Re report: COVID-19 crisis fuels cyber losses

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 issues a EUR 1.25 billion green bond

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.

LATVIA: Compensa VIG will pay more than EUR 1 million indemnities for Lido fire incident

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.

HUNGARY: MNB asks insurers to review the MTPL tariffs

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.

WorldPensionSummit 2020 becomes a virtual event

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.