News - Insurance
HUNGARY: high confidence in insurance companies and satisfaction with insurance services
The majority of the population is satisfied with the services provided by insurers and continues to trust them, according to this year's Insurance Trust Index (BIBIX) survey, explained the Association of Hungarian Insurers (MABISZ), portfolio.hu wrote.
5 July 2022POLAND: MTPL prices saw the largest reduction since 2018
In the first half of 2022 the Polish market saw the largest reduction in MTPL prices since 2018. The average premium decreased by as much as 14.8% y-o-y to PLN 524 (EUR 111.72*). The average MTPL price is now 3% lower than the rate in the first half of 2016, Gazeta Ubezpieczeniowa reports.
5 July 2022GAEF: Inflationary recession is the key concern, say re/insurance chief economists and chief strategy officers
As the instability and distortions that come with protracted high inflation could have a negative impact on the growth of insurance markets and insurance penetration, the annual meeting of the Geneva Association Economic Forum (GAEF) addressed the issues, looking at the emerging economic trends and solutions to support the industry's development.
4 July 2022Bosnia and Herzegovina: ASA and Central Insurance to become a leader in the insurance market after merging
The merger of ASA and Central Insurance, both domestic and fast-growing insurance companies, will result in a leading position on the Bosnian insurance market for ASA Central Osiguranje, the insurer said.
4 July 2022UZBEKISTAN: expanding the classifier of insurance activities to contribute to the creation of new insurance types and improve the living standards of the population
On June 9, 2022, a Decree of the Cabinet of Ministers of the Republic of Uzbekistan "On amendments to some decrees of the Government of the Republic of Uzbekistan, as well as on recognizing some of them as invalid" was adopted, yuz.uz wrote.
4 July 2022Hungary: Ex-Aegon units continues their activity under a new name
Ex Hungarian Aegon unit announced on its website that starting September 2022, the company will be present on the market under the names Alfa Vienna Insurance Group Biztosito Zrt. and Alfa VIG Penztarszolgaltato Zrt.
4 July 2022ERGO Versicherung Austria buys D.A.S. Rechtsschutz
The specialist on the Austrian legal protection market - D.A.S. Rechtsschutz AG changes ownership within ERGO Group AG, after Austrian subsidiary ERGO Versicherung AG buys the national legal protection specialist from the previous owner, ERGO Versicherung AG in Germany.
4 July 2022Chubb completes acquisition of Cigna's PA, Health and Life business in Asia-Pacific
Chubb Limited announced that it has completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna in six Asia-Pacific markets.
4 July 2022AXA finalized the transformation of holding company into group's internal reinsurer
AXA announced that AXA S.A., the holding company of AXA Group, has completed its previously announced transformation into AXA Group's internal reinsurer following its merger on June 30, 2022 with its captive reinsurer, AXA Global Re.
4 July 2022Aegon to repurchase shares to neutralize 2021 final dividend paid in shares
The Dutch insurer Aegon announced it will repurchase common shares for an amount of EUR 106 million to neutralize the dilutive effect of the 2021 final dividend paid in shares: "These shares will be held as treasury shares and will be used to pay future stock dividends in shares".
4 July 2022EIOPA Conference 2022: insurers are vital to help individuals and businesses facing the challenging times
EIOPA's annual conference in 2022 took place on 21 June at a time marked by high levels of uncertainty for the European economy and for consumers. Few periods over the past decades have presented so many challenges at once and manifested so clearly that far reaching transformations are afoot.
30 June 2022ESTONIA: LKF: 14,800 insurance cases with a total loss of EUR 30 million in five months
According to the statistics of the Estonian Traffic Insurance Fund (LKF), there have been 14,800 traffic insurance cases with a total loss of EUR 30 million in Estonia in five months this year. This is the highest number of accidents ever during this period.
30 June 2022KOSOVO: in the first five months, the market expanded by 15% y-o-y
From January to May this year, GWP of insurance companies operating in Kosovo increased by 15.1% y-o-y to EUR 48.7 million, SeeNews wrote with reference to the central bank data.
30 June 2022MONTENEGRO: Memorandum signed between the insurance supervision agencies of Montenegro and Austria
Insurance Supervision Agency of Montenegro and the Austrian Financial Markets Regulatory Authority (FMA) signed a memorandum, the agency said on its website.
30 June 2022NORTH MACEDONIA: ISA: farmers and agricultural companies invested MKD 118.6 million (EUR 1.93 million) in insurance during the first three months
In the first quarter 600 individual farmers and 50 agricultural companies insured their crops, fruits, and livestock. Soon agroinsurance will become mandatory by law and therefore its share in the insurance market will increase significantly, the ISA (Insurance Supervision Agency) said.
30 June 2022Two thirds of Poles choose home insurance considering the scope and price of the policy
The scope of insurance policy (68% of respondents), price (67%) and the sum insured (47%), are the first three criteria used by Poles when acquiring home insurance, a study carried out by SW Research on behalf of Wiener shows. The insurance company's reputation is only important for 30% of respondents.
30 June 2022STATISTICS: RUSSIA, 1Q2022: the market shrank by 1.64% due to worsening of foreign trade and financial conditions
The Russian insurance market in 1Q2022 decreased by 1.64% y-o-y due to deterioration in foreign trade and financial conditions. GWP amounted to RUB 452.28 billion (EUR 4.83 billion). At the same time, the fall was only in life insurance (almost 11%), while non-life insurance recorded a slight increase, as shown by data published by the Central Bank.
30 June 2022STATISTICS: Cypriot insurers' business increased to EUR 274 million at the end of March
The insurance market of Cyprus totaled EUR 273.6 million at the end of Q1 2022, up by 12.8% y-o-y, according to Insurance Association of Cyprus - IAC's data. Gross claims incurred increased by 10.9% y-o-y to EUR 115.1 million, of which EUR 58.8 million - life indemnities (+14.3% y-o-y), EUR 56.3 million - non-life (up by 7.5%).
30 June 2022Romania: EBRD supports insurance market's development
The EBRD is optimistic about the development of the Romanian and regional insurance market, after record-breaking results for 2021 from Bulgaria's Euroins Insurance Group (EIG), led by the strong performance of its largest entity, Euroins Romania Asigurare Reasigurare, the bank said in a press release.
30 June 2022Romania: Competition Council's 2018 sanctions against UNSAR permanently removed by justice
The Romanian High Court of Cassation and Justice decided this week to upheld the reasoning of the Bucharest Court of Appeal on the annulment of the Competition Council's sanctioning decision against UNSAR - the National Union of Insurance and Reinsurance Companies of Romania.
30 June 2022
