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.
24 September 2020Wednesday, 30 September, the Georgian insurance market LIVE on YouTube
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.
24 September 2020STATISTICS: BiH, 1H2020: tight competition for the market leadership; business volume only slightly affected by the Covid crisis
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.
24 September 2020Willis 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.
24 September 2020Munich 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.
24 September 2020POLAND: PZU Auto Ochrony Prawna, a new service for fleet and leasing customers
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.
24 September 2020POLAND: PZU launches civil liability insurance product for cyclists and scooter users
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.
24 September 2020STATISTICS: KOSOVO, 1H2020: Insurers turned on profit at the end of June
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.
24 September 2020LATVIA: 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.
24 September 2020KYRGYZSTAN: Investments into financial intermediation and insurance increased by 29.6% y-o-y
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.
24 September 2020Aon study: Reinsurers' capital position remains robust after strong capital market recovery in 2Q2020
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.
23 September 2020KOSOVO: Insurance Association of Kosovo proposes legislative solutions for the uninsured vehicles problem
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.
23 September 2020Join over 1,000 insurance professionals at "The Future of Insurance Europe" virtual event
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.
23 September 2020KBC Groep appointed DEBACKERE as its new Chairman and of KBC Bank and KBC Insurance
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.
23 September 2020Romanian FSA authorised NN Asigurari as non-life insurer and aprooved its management
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.
23 September 2020HUNGARY: 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.
23 September 2020WorldPensionSummit 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.
22 September 2020RUSSIA: Yulia GAVRILINA has been appointed Reinsurance Director of SBERBANK Insurance
Yulia GAVRILINA has been appointed as Reinsurance Director of SBERBANK Insurance, as the company announced on September 21, 2020.
22 September 2020BELARUS: the procedure for transferring insurance portfolios has been amended
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.
22 September 2020CROATIA: The insurance market GWP might drop by 4.4% y-o-y by the end of 2020
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.
22 September 2020
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