News - Insurance
Aviva appoints Shonaid JEMMETT-PAGE as Non-Executive Director
Aviva announced the appointment of Shonaid Jemmett-Page as an Independent Non-Executive Director of the Company with effect from 16 December 2021.
13 January 2022Czech. Rep: A. M. Best confirmed Generali Ceska pojistovna a financial strength rating of "A" with a stable outlook
Before the end of 2021, the international rating agency A. M. Best, reaffirmed a financial strength rating of "A" (excellent) with a stable outlook for Assicurazioni Generali and its main rated subsidiaries, including Generali Ceska pojistovna. The agency also rated the long-term credit rating at "a +" with a stable outlook.
13 January 2022French insurer Axeria IARD entered the Romanian MTPL market
French insurer Axeria IARD, headquartered in Lyon, became active on the Romanian MTPL market on the right of the Freedom of Establishment, being greenlighted by the French and Romanian supervisory authorities: ACPR (Autorite de controle prudentiel et de resolution) and ASF (Autoritatea de Supraveghere Financiara), as 1asig.ro informed here.
13 January 2022Insurance Europe: Major changes to EU product liability rules could undermine insurers' ability to cover certain risks
Insurance Europe has published its response to a questionnaire conducted by the European Commission on adapting liability rules to the digital age and artificial intelligence (AI).
13 January 2022Insurance Europe: EC Retail Investment Strategy should focus on best outcome for retail investors
Insurance Europe has published its response to a call for evidence from the European Securities and Markets Authority (ESMA) on aspects of retail investor protection. This call for evidence will feed into the advice that ESMA will provide to the European Commission on its Retail Investment Strategy (RIS).
13 January 2022Insurance Europe on PRIIPS review: the KID should provide clear information on insurance coverage, guarantees or other capital protection mechanisms
The review of the PRIIPs framework should aim to result in an overall simplification to improve the clarity and usefulness of the Key Information Document (KID). Moreover, any review of the PRIIPs framework should not be rushed, as extensive technical and consumer testing in all countries is needed, Insurance Europe said.
13 January 2022STATISTICS: Macedonian insurers' business expanded by 17.4% y-o-y after Q3
Macedonian insurers posted nine-months 2021 aggregate GWP worth MKD 8.8 billion (~EUR 143 million), 17.4% more y-o-y, according to the market figures published by the Insurance Supervision Agency of Macedonia.
13 January 2022STATISTICS: Cypriot insurers closed the first nine months of 2021 with GWP worth EUR 700 million
The insurance market of Cyprus totaled EUR 701.4 million at the end of September 2021, increasing by almost 5% y-o-y, according to the quarterly data published by The Insurance Association of Cyprus - IAC.
13 January 2022STATISTICS: Latvian market expanded during Q3 by 3.7% y-o-y due to positive rates posted by EU branches
The Latvian insurance market totaled EUR 618.8 million at the end of September 2021, about 3.7% more y-o-y, according to data published by the Financial and Capital Market Commission (FKTK).
13 January 2022RUSSIA: requirements for the minimal charter capital of insurers increased from January 1
From January 1, 2022, requirements for the minimal charter capital of non-life insurers increased from RUB 180 million to RUB 240 million. For life insurers, the minimal amount increased from RUB 310 million to RUB 380 million, for reinsurers - from RUB 520 million to RUB 560 million, ASN reports with reference to the Finmarket portal.
12 January 2022Joint Movingdots and Overhaul technologies will help motor carriers lower insurance costs
Movingdots, Swiss Re's tech subsidiary in the automotive & mobility space and Overhaul, an US supply chain monitoring service provider, have established a partnership to provide motor carriers with the necessary actionable data to identify and address driver behavior.
11 January 2022AZERBAIJAN: direct settlement in MTPL is planned to be introduced in Azerbaijan
Over 90% of cars in Azerbaijan are insured under MTPL, said Vusal GURBANOV, director of the department for control over insurance activities of the Central Bank of Azerbaijan, Forinsurer reports.
11 January 2022UKRAINE: in 10 months of 2021 the number of MTPL policies increased by 26% y-o-y
The number of concluded Green Card contracts in Ukraine in January-October 2021 increased by 26% reaching 644.6 thousand units, Forinsurer wrote.
11 January 2022UKRAINE: in January-September 2021, MetLife collected the maximum GWP for the life insurance market
According to the results of three quarters of 2021, MetLife maintains its leadership in the life insurance market in all key indicators, which is confirmed by the Insurance TOP industry rankings.
11 January 2022Aegon to repurchase shares for share-based compensation plans
The Dutch insurance group Aegon announced that it will repurchase common shares for an amount of EUR 50 million to meet its obligations resulting from the 2021 and 2022 share-based compensation plans for senior management. The repurchased shares will be held as treasury shares until they are allocated to the plan participants.
10 January 2022AIG announced leadership changes
American International Group announced that Marilyn HIRSCH has returned to AIG as Senior Vice President, Treasurer, effective immediately, reporting to Shane FITZSIMONS, Executive Vice President and Chief Financial Officer, AIG. In addition, Kathleen CARBONE has been named Vice President and Chief Accounting Officer, AIG, effective March 1, 2022 reporting to Shane FITZSIMONS.
10 January 2022Allianz France transferred its savings contract portfolio to CNP Assurances
CNP Assurances and Allianz France announced that they have finalized a transfer of savings contracts from Allianz France to CNP Assurances. The transfer comprises more than 20,000 life insurance and capitalization policies for total assets of EUR 2.1 billion.
10 January 2022AXA has completed the sale of AXA Bank Belgium
AXA announced today that it has completed the sale of its Belgian banking operations, AXA Bank Belgium, to Crelan Bank NV/SA, for a total consideration of EUR 691 million, comprised of a net cash consideration of EUR 611 million, and the transfer to AXA Belgium of 100% of Crelan Insurance - valued at EUR 80 million.
10 January 2022Chubb to appoint Bryce JOHNS to Lead Company's International Life Insurance business
Chubb Limited announced that Bryce JOHNS will be appointed Senior Vice President, Chubb Group and President of Chubb Life. He will join the company from HSBC, where he served most recently as Global CEO of HSBC Life and Insurance Partnerships.
10 January 2022Guy Carpenter: January 1, 2022 renewals reflect a healthy but bifurcated market as reinsurers respond to sector challenges
According to global reinsurance broker Guy Carpenter part of Marsh McLennan, January 1 renewals reflected a healthy but evolving market as reinsurers adjusted risk appetite and pricing thresholds for certain sectors in response to ongoing and emerging challenges.
10 January 2022
