News - Insurance
POLAND: ERGO Hestia among the best employers in Poland
ERGO Hestia is among the best employers in Poland for the third year in a row. The insurer received the prestigious Top Employer Polska 2024 award, the company said in its statement.
23 January 2024UKRAINE: The amount of MTIBU payments from the Victim Protection Fund in 2023 increased by 42%
In 2023, MTIBU (Motor (Transport) Insurance Bureau of Ukraine) made 7,524 payments from the Victim Protection Fund for a total of UAH 436.8 million (~EUR 10.37 million). The number of regulatory payments increased by 30% y-o-y, and the amount increased by 42.5%, Forinsurer reports.
23 January 2024UNIQA becomes a member of the Eurapco Alliance
Following a successful one-year pilot project, Austrian insurer UNIQA Insurance Group AG announced it will become a permanent member of the Eurapco Alliance in 2024.
23 January 2024EIOPA: analyses internal models for non-life underwriting risk
The European Insurance and Occupational Pensions Authority (EIOPA) in the beginning of the year the results of a Europe-wide comparative study on non-life underwriting risk in internal models. While the study showed the most undertakings’ capital allocation has been stable, it also revealed that some companies rely too much on uncertain future profits when calculating premium risk and thus underestimate their capital requirements.
17 January 2024GDV: ski accidents are increasing both in number and associated costs
One in five sports accidents happens to skiers, a study performed by the German Insurers’ Association (GDV) shows. For around 7,100 accidents per ski season, private accident insurers paid an average of EUR 7,750 per accident, accident insurers’ claims statistics for 2017–2021 reveal.
17 January 2024Romania: ASIROM Vienna Insurance Group takes over the insurance portfolio from Aegon Romania
Following the acquisition by Vienna Insurance Group of the Aegon companies in Central and Eastern Europe, operation completed in June 2023, the insurance portfolio of the Romanian Aegon branch will be transferred to ASIROM Vienna Insurance Group.
17 January 2024The Geneva Association: re/insurers may play an important role in finding new ways to manage risks and finance climate tech projects
80% of CEOs of P&C and life insurance company that have participated in a survey conducted by the Geneva Association, acknowledge that the development and wide-scale deployment of climate technologies are key to achieving the energy transition and industrial decarbonization.
17 January 2024STATISTICS: CIS, 3Q2023: the regional market decreased by more than 26% due to falling markets in Russia and Belarus
The CIS regional insurance market* ended the first three quarters of 2023 with a decrease in euro by 26.42% y-o-y, amounting to EUR 20.58 billion, according to xprimm statistics.
16 January 2024STATISTICS: Serbia: Insurance market expanded to almost EUR 1 billion during 3Q2023
The insurance market of Serbia ended the first three quarters of 2023 with aggregate GWP worth RSD 115.61 billion (~EUR 986.47 million, up by 16.32% y-o-y), of which non-life insurance - RSD 94.19 billion (+18.97%), while the life insurance segment totaled RSD 21.42 billion, up by 5.94% y-o-y.
16 January 2024Allianz plans new SB appointments
The Supervisory Board of Allianz SE intends to propose to the Annual General Meeting on May 8, 2024 that Jorg Schneider and Stephanie Bruce be newly elected to the Supervisory Board of Allianz SE as shareholder representatives.
16 January 2024Earthquake in Turkey and Syria were the 2023 most devastating humanitarian disaster
According to global reinsurer Munich Re, the series of earthquakes in southeast Turkey and Syria in February was the last year’s most destructive natural disaster.
16 January 2024Generali to become 100% shareholder of its Chinese P&C insurance business
Generali enhances its strategic position in China, becoming the 100% shareholder of Generali China Insurance Company Limited (GCI), leveraging its market presence and platform for future growth.
16 January 2024ARMENIA: in 2023, 11,000 hectares were insured under the agricultural insurance program
In 2023, as part of the pilot agroinsurance program, all 13 agricultural crops included in the program were insured, and the total area of insured land reached 11,000 hectares, ArmInfo writes with reference to the press service of the Ministry of Economy of Armenia.
16 January 2024ESTONIA: LKF: total loss from traffic insurance cases last year increased by 3%
According to the statistics of the Traffic Insurance Fund (LKF), 34,300 traffic insurance cases took place in Estonia last year with a total loss of EUR 72 million. In addition, Estonian vehicles caused 2,600 traffic accidents abroad, the total damage of which reached EUR 11 million, the Fund reports.
16 January 2024LATVIA: ISA: price and insurance contract terms are the most important factors in choosing insurers
The two most important factors for Latvians when choosing an insurance company are the price and the insurance contract terms, according to the insurance industry study conducted by the research center SKDS in November 2023, the Latvian Insurers Association (LAA) reports.
16 January 2024MOLDOVA: at the end of 3Q2023, liquid assets exceeded 57% of all assets of the insurance sector
According to the National Bank of Moldova, at the end of the 3Q2023, total assets of insurance companies amounted to MDL 4.78 billion (~EUR 0.25 billion), which is 3.7% (MDL 170.5 million) more compared to the previous quarter, bizlaw.md writes.
16 January 2024NORTH MACEDONIA: in 2023 every third insured vehicle had a Green Card policy
In 2023, vehicle owners paid about EUR 87 million for motor liability insurance. Of that amount EUR 21 million was paid for Green Card policies, according to the Insurance Supervision Agency (ISA).
16 January 2024Overall losses from natural disasters in 2023: USD 250 billion; more than 74,000 fatalities
According to Munich Re, worldwide, natural disasters in 2023 resulted in losses of around USD 250 billion (similar with previous year), with insured losses of USD 95bn (previous year USD 125 billion).
16 January 2024Sustainability, technology & geopolitical challenges are top supply chain risks for transport & logistics industry
Lloyd’s of London has published a new report - On the move - which explores the biggest threats to supply chains in transportation and logistics – an industry which underpins USD 89 billion of global trade and has a market value of USD 9.7 trillion.
16 January 2024STATISTICS: Slovenian insurers’ business rise by almost 10% y-o-y in 3Q2023 to EUR 2.35 billion
The business of Slovenian insurers rose 9.89% on the year in the first nine months of 2023, reaching EUR 2.35 billion in terms of GWP, according to the end-September 2023 market data of the Slovenian Insurance Association.
10 January 2024
