News - Insurance
Ten days to FIAR 2023
The 24th edition of FIAR - the International Insurance Reinsurance Forum will take place in Bucharest, at the Sheraton Hotel, between 25 - 27 June. The Forum will host four conferences, as well as bilateral meetings and other networking opportunities.
Hristina Dzambazovska Anastasov appointed head of Triglav Life, North Macedonia
Hristina Dzambazovska Anastasov was appointed General Director and Executive member of the Board of Directors of Triglav Osiguruvanje Zhivot AD Skopje. She replaces Vilma Uceta Duzlevska, who will take over another top management position within Triglav's Croatian unit. The appointment got the approval of the local supervising authority.
VIG merges two of its three subsidiaries in North Macedonia
Two of the three VIG companies in North Macedonia are set to merge: MAKEDONIJA Skopje - VIG will acquire WINNER - VIG Skopje, absorbing it. No details on the merger's calendar are yet available.
Bosnia and Herzegovina: In January-May the Federation insurance market goes up 8.6%
In January-May 2023 total GWP of insurance companies operating in Bosnia and Herzegovina's Federation increased 8.6% to BAM 272.7 million (EUR 139.4 million), SeeNews reports referring to official data.
ARMENIA: establishment of the ERC head office in Yerevan to be a major achievement for the country
At its plenary session on June 13, the National Assembly of the Republic of Armenia started discussions on the draft agreement on the establishment of the Eurasian Reinsurance Company (ERC) presented by the Armenian government, ArmInfo reports.
AZERBAIJAN: Should the Compulsory Insurance Bureau be liquidated, the procedure is now clarified
Should the Compulsory Insurance Bureau (ISB) be liquidated, this will happen by a special law, as stated in the draft amendments to the Law on Compulsory Insurance, which was considered in the first reading at a parliamentary session, ABC.AZ reports.
UKRAINE: Total amount of remuneration to intermediaries in 1Q exceeded UAH 2.8 billion
The expenses of Ukrainian insurance companies related to conclusion and renewal of non-life insurance contracts (acquisition costs) for 1Q2023 amounted to UAH 2.58 billion, including remuneration to agents of UAH 2.37 billion, Forinsurer reports.
STATISTICS: Turkiye Q1 insurers' business expanded to almost EUR 5 billion
Total premium generated in the Turkiye insurance market increased in local currency by 140.86% during January-March 2023 to TRY 103.79 billion (EUR 4.98 billion), according to the quarterly figures released by the Insurance Association of Turkey (TSB).
STATISTICS: Slovakia: SLASPO members Q1 2023 business increased to EUR 710 million
According to the quarterly market data published by SLASPO (Slovak Insurance Association), the January-March 2023 business from the members of the association totaled EUR 710.43 million, up by 4.54% y-o-y.
STATISTICS: Czech Insurance Association, Q1 2023: Compared to YE 2022, a slowdown in growth was recorded
The business of Czech insurers member of local professional association - CAP totaled at the end of March 2023 about CZK 42.9 billion (EUR 1.8 billion) up by 5.5% y-o-y, or by CZK 2.2 billion. According to the CAP representatives, "compared to the 8.5% growth rate recorded in the same period last year, or 7% growth achieved at the end of 2022, this is a slowdown in the growth rate of the entire insurance market".
Guy Carpenter expands cyber capabilities with key appointments to global team
Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan, announced the expansion of its Cyber team with a series of appointments and promotions. The expanded team will enable Guy Carpenter to enhance the market-leading solutions and services it offers to clients and enrich Marsh McLennan's ability to help businesses and communities realize possibilities in the digital economy.
Knibbe reappointed as CEO of of NN Group
The General Meeting of NN Group adopted all proposals on the agenda of the 2023 annual general meeting (AGM), including the adoption of the annual accounts for the financial year 2022, the payment of a 2022 final dividend of EUR 1.79 per ordinary share.
Aon names Fakkel as CTO of STG
Global re/insurance broker Aon named Marc Fakkel as Chief Technology Officer of its Strategy and Technology Group (STG).
Burkhard Gantenbein succeeds Walter Rothensteiner as Chairman of the UNIQA SB
Burkhard Gantenbein has been elected as Chairman of the UNIQA Insurance Group AG Supervisory Board (SB) following the Annual General Meeting held on 6 June 2023.
Insuramore: MGAs, MGUs and cover-holders grew by around 19% in 2022
According to an updated ranking and analysis completed by Insuramore the value of revenues earned worldwide by MGA, MGU and cover-holder groups (a.k.a. delegated underwriting authority / underwriting agency groups) was around USD 17.3 billion in 2022, signifying annual growth in this sector of around 19% before adjusting for inflation.
The 35th International Insurance Tennis Tournament hosted by Milli Re announces the winners
The 35th round of traditional "International Insurance Tennis Tournament" hosted y Milli Re, one of the most well-established sports events in Turkey and one of the longest-running sport events in the sector, took place at Miltas-Suadiye Sports Complex in between 9-11 June 2023.
UnisonSteadfast and Zurich Resilience Solutions enter into cooperation
UnisonSteadfast, the largest independent network of medium-sized insurance brokers announced that Zurich Resilience Solutions (ZRS), the commercial risk advisory and services unit of Zurich Insurance Group (Zurich), has become a supplier to the global network for risk management services and solutions.
Eurohold posted Q1 net profit worth EUR 135 million
Eurohold Bulgaria, one of the largest energy and financial group in CEE, posted an increase in its financial results in the first quarter due to improved profitability of its energy business and stable results from the insurance operations, shows the consolidated report of the company for the period.
Aegon completes the sale of CEE businesses to VIG
Dutch insurer Aegon announced the completion of the divestment of its businesses in Poland and Romania to Vienna Insurance Group for EUR 125 million.
VVO: In Austria, around 1 billion euros in damage is recorded every year
While the increase in natural disasters and extreme weather events is obvious, preparations for them in Austria are rather sluggish and the risks are still being greatly underestimated Christian Eltner, General Secretary of the Austrian Insurance Association VVO stated recently.
15 June 2023