News - Insurance
Moody’s acquires Praedicat, adding Casualty and Liability modeling capabilities
Moody’s Corporation announced today that it has acquired Praedicat, a leading provider of casualty insurance analytics. The acquisition adds comprehensive casualty and liability modeling to Moody’s range of market leading solutions for the insurance industry, further enhancing its overall risk assessment strategy.
9 September 2024Swiss Re Institute: Litigation costs drive US liability claims by 57% over past decade
Social inflation has become the main growth driver of US liability claims, Swiss Re Institute‘s new Social Inflation Index shows. Driven by large court verdicts, social inflation raised US liability claims by 57% over the past decade, peaking at 7% in 2023.
9 September 2024STATISTICS: SLOVAKIA 1Q2024: Sharp increase in the claims expenses for property insurance
GWP by the Slovak insurers amounted, according to the official statistics of the Slovak National Bank, to EUR 537.22 million in Q1 2024, which is by 7.25% less y-o-y.
4 September 2024Don’t miss the Georgian Evening in Baden Baden!
Tuesday, 22 October, the Baden-Baden Casino will host the Georgian Evening. Re/insurance specialists from all over the world are invited, between 21.00 – 23.00, to meet their Georgian peers and celebrate the achievements of the Georgian insurance market.
4 September 2024STATISTICS: NORTH MACEDONIA, 1Q2024: increasing demand for property insurance
Insurers of North Macedonia have written gross premiums worth EUR 67.5 million in the three months of 2024, which is 18.5% more y-o-y. Paid claims increased by 7.5%, to EUR 23.47 million.
4 September 2024STATISTICS: CZECHIA 1Q2024: non-life claims expenses have increased at a higher pace than GWP
According to the Czech National Bank data, Czech insurers ended Q1 2024 with GWP worth EUR 2.35 billion, a total sum fairly equal to the Q1 2023 one. Paid claims have decreased by 1.6%, to EUR 1.07 billion.
4 September 2024New UNIQA's cultural projects supporting female filmmakers and other young artists in the CEE presented at the 30th Sarajevo Film Festival
Under the auspices of the 30th edition of the Sarajevo Film Festival, UNIQA presented the UNIQA SEE FUTURE Foundation's support project for women filmmakers in the region of Southeast Europe.
4 September 2024STATISTICS: BELARUS, 1H2024: premiums grew almost twice as fast as paid claims
At the end of the first half of 2024, the insurance sector of Belarus amounted to BYN 1,267.85 million (EUR 374.87 million), which is 15.50% more y-o-y in local currency, as the data published by the Ministry of Finance of the Republic of Belarus show.
4 September 2024Acrisure Re enhances international reinsurance capabilities with leadership changes in London
Acrisure Re, the re/insurance division of global fintech leader Acrisure, announced the aappointment of David SOWREY as Managing Director and Nigel DANE as Chairman of Acrisure Re’s International Treaty business, effective immediately. Both leaders are based in London and will continue to report directly to CEO, Simon HEDLEY.
4 September 2024Asta strengthens senior management team with three new hires
Asta, the leading third-party managing agent at Lloyd’s, announces three significant additions to its senior management team: David HOPKINS as Deputy Chief Underwriting Officer, Alex PORACCHIA as Transformation Director and Julie FLELLO as Head Of Client Management.
4 September 2024BMS Group appoints Anna PAINTER as head of global healthcare technical operations
BMS Group (BMS), the independent specialist insurance and reinsurance broker, announced the appointment of Anna PAINTER as head of global healthcare technical operations. Based in London, Painter will report to Rob Wendin, managing director of the global healthcare liability division.
4 September 2024Tobias SONNDORFER will take over VIG Re’s top position starting 1 January 2025
VIG Re announced that effective January 1, 2025, Tobias SONNDORFER will succeed Johannes Martin HARTMANN as Chief Executive Officer and Chairman of the Board of Directors in line with the established succession plan.
4 September 2024ARMENIA: Insurers' investment income is growing at double-digit rates
According to the 1H2024 results, amid the deteriorating premium dynamics, insurers' investment income continues to grow at double-digit rates, remaining at 27% for the second year in a row, ArmInfo writes.
4 September 2024GEORGIA: Investment holding to manage three largest insurance companies
Investment holding Sakartvelos Capital (Georgia's Capital) has merged three largest insurance companies - Aldagi, Imedi L and Ardi are already managed by one company, Business Georgia writes.
4 September 2024KYRGYZSTAN: property insurance accounts for the largest share of GWP and paid claims in 7M2024
For the period from January to July 2024, GWP in Kyrgyzstan amounted to KGS 2381.3 million (~EUR 26.18 million), which is 51.3% more y-o-y, according to a report published the Service for regulation and supervision of the financial market.
4 September 2024ARMENIA: MTPL loss ratio increases to 79.3%
As of August 1, 2024, the MTPL loss ratio in Armenia increased to 79.3% from 64% a year ago, АrmInfo reports with reference to data from the Bureau of Motor Insurers of Armenia.
4 September 2024AZERBAIJAN: The Belarusian Asoba to enter the Azerbaijani market
The Belarusian Asoba insurance company intends to enter the Azerbaijani market, the company's general director Vladimir Korobushkin said during the Azerbaijan International Insurance Forum-2024 (AIIF-2024), Trend reports.
4 September 2024STATISTICS: LATVIA, 1Q2024: motor insurance drives the market, but claims expenses increased faster than premiums
Latvian insurers ended Q1 2024 with gross written premiums (GWP) worth EUR 329,15 million, 11.42% up y-o-y. Life insurance accounted for almost 19% of this total, while motor insurance is the business segment eith the largest participation to the market portfolio (32%).
29 August 2024VIG, 1H2024: Premium increase in all lines of business and segments; earnings before taxes expected to reach up to 875 million by year-end
Austrian Vienna Insurance Group reported GWP of EUR 7,886.8 million in 1H2024, 7.9% up y-o-y. Premiums increased in all segments and all lines of business, the Group said. The underwriting income increased to EUR 5.9 billion (+10.0%), while earnings before taxes grew to EUR 481.0 million (+3.9%).
29 August 2024WTW appoints Gavin Hamilton as a Director in its International Property team
WTW has appointed Gavin Hamilton as a Director within its International Property team, based in London. Hamilton will report into Edward Day, Head of International Property.
29 August 2024
