News - Insurance
Marsh: Global commercial insurance prices increased 4% in Q4 2022
Global commercial insurance prices increased 4% in the fourth quarter of 2022 (down from a 6% increase in Q3 and a 9% increase in Q2), according to the Global Insurance Market Index released by the insurance brokerage company Marsh.
7 February 2023Hannover Re posted YE2022 net income of EUR 1.41 billion and targets EUR 1.7 billion for 2023
German reinsurer Hannover Re generated a Group net income of EUR 1.41 billion in 2022 vs. EUR 1.23 billion a year before, "based on preliminary, unaudited key figures, thus achieving the forecast specified in November 2022", while gross written premium rose by 12.7% to EUR 33.3 billion (vs. EUR 27.8 billion).
7 February 2023AON reported FY 2022 USD 12.5 billion revenue
Global re-insurance broker AON posted 2% growth in Q4 2022 revenue to USD 3.13 billion (vs. USD 3.08 billion) and 10% growth in FY 2022 revenue to USD 12.47 billion (vs. USD 12.19 billion), due to double-digit increases reported in Reinsurance Solution: +27% in Q4, while the FY2022 growth rate was 10%.
7 February 2023TURKIYE: 7.8 magnitude quake kills hundreds in the provinces near the Turkiye - Syrian border
A 7.8-magnitude quake hit Turkiye's Gaziantep province, 3 kilometers east of Nurdagi, at a depth of 24.1 kilometers, the United States Geological Survey (USGS) said.
6 February 2023Insurance Europe: EC should remove the transition period and vehicle spare parts exclusions from its Design Directive proposal
The harmonization of the provisions on design protection for visible and replaceable spare parts in complex products, such as vehicles, could be beneficial in terms of fair competition, consumer choice and lower prices, Insurance Europe commented on the EC's proposal for a recast of the Design Directive.
2 February 2023POLAND: Acrisure Re partners with Polish Smartt Re to access the CEE reinsurance facultative business
Acrisure Re, the (re)insurance division of top-10 global insurance broker and fintech platform Acrisure, announced that its Facultative team has signed a preferred partnership broker agreement with Polish Smartt Re specifically for Central Eastern European (CEE) Facultative business, effective immediately.
2 February 2023ESG IN INSURANCE Conference, Vienna: Keynote Speaker Elisabeth STADLER will share VIG's approach to ESG goals
Elisabeth STADLER, CEO, Vienna Insurance Group (VIG) will be one of esteemed Keynote Speakers at the first ESG IN INSURANCE Conference organized within the 2023 IIF - The International Insurance Forum framework, in Vienna, on 4 April.
2 February 2023Motor Insurance Conference Vienna 2023: Sandra SCHWARZ, President of the Council of Bureaux confirmed Keynote Speaker
Sandra SCHWARZ, President of the Council of Bureaux and Head of German Green Card Bureau will give a Keynote Speech at the 2023 edition of the Motor Insurance Conference organized in Vienna, under the titles of "Reshaping motor insurance business".
2 February 2023SERBIA: inflation triggered a 12% - 15% rise in the MTPL premiums
MTPL premiums went up, depending on the insurance provider, by 12% - 15% for all vehicle categories, osiguranje.hr reported quoting the Association of Insurers of Serbia (UOS). After the "prices war" in August 2022, this time the prices are harmonized with the National Bank of Serbia (NBS), the association said.
2 February 2023NCAs of Malta, Poland, Croatia and Romania set to improve ESG capacities as a part of an EU-sponsored project
The national competent authorities of Malta, Poland, Croatia and Romania have joined in the EU multi-country project Sustainable Finance - Supervisory Capacity Enhancement, aiming to enhance their expertise in the field of the EU's sustainable financial framework.
1 February 2023ARMENIA: introduction of mandatory health insurance will not affect efficiency and quality of the healthcare system
Introduction of the mandatory health insurance system will lead to a change in the sources of financing of the healthcare system, while it will not affect efficiency and quality of the system, ArmInfo writes with reference to Tigran Jrbashyan, Director of the Management Consulting Service of Ameria Company.
1 February 2023ARMENIA: three insurers remain on the list of large taxpayers
Of the six insurance companies operating in the country, only three remained in the list of large taxpayers of Armenia for 2022 - NAIRI Insurance, INGO Armenia and ROSGOSSTRAKH Armenia, ArmInfo reports referring to the data of the State Revenue Committee of the Republic of Armenia.
1 February 2023AZERBAIJAN: The Islamic Corporation for the Insurance of Investment & Export Credit (ICIEC) accepts Azerbaijan as a member
Azerbaijan has been accepted as the 49th member state of the Islamic Corporation for the Insurance of Investment & Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group, Trend reports with reference to the ICIEC.
1 February 2023CROATIA: partnership between Intesa Sanpaolo and Generali osiguranje to strengthen bancassurance on the Croatian market
Privredna banka Zagreb d. d. (PBZ), a member of the Intesa Sanpaolo Group, announced a partnership between Intesa Sanpaolo and Generali osiguranje to strengthen operations in bancassurance on the Croatian market and provide comprehensive insurance for individuals, families and companies, svijetosiguranja.eu wrote.
1 February 2023KYRGYZSTAN: the deadline for the entry into force of the law on MTPL postponed
President of Kyrgyzstan Sadyr Japarov ordered to postpone introduction of compulsory motor insurance in the country, as Speaker Nurlanbek Shakiev said, Sputnik writes.
1 February 2023NORTH MACEDONIA: The Rulebook is to further harmonize Montenegrin market with EU insurance regulations
The Council of the ISA (Insurance Supervision Agency), at the recent session adopted, among other things, the Rulebook on the management system in insurance companies. The Rulebook is to further harmonize Montenegrin regulations with EU regulations in the field of insurance, the ISA said.
1 February 2023UKRAINE: MTIBU: satisfaction with the settlement procedure is the best for all three years in the annual survey history
The overall assessment of satisfaction with the settlement procedure was 9.4 points on a 10-point scale, which is the best indicator for all three years of the annual survey of victims of road accidents, according to a press release from MTIBU.
1 February 2023UKRAINE: The new MTPL law to improve protection for vehicle owners and become a step towards European insurance standards
On January 12, 2023, the Verkhovna Rada supported in the first reading the draft law "On Compulsory Insurance of Civil Liability of Motor Vehicle Owners", according to a press release from MTIBU (Motor Transport Insurance Bureau of Ukraine).
1 February 2023Sabra Purtill has been named AIG's interim CFO
American International Group (AIG) announced in a statement that Sabra Purtill has been named AIG's interim Chief Financial Officer and Turab Hussain has been named AIG's Interim Global Chief Actuary.
1 February 2023AON: Global NatCat insured losses exceeded USD 130 billion in 2022
During 2022, natural disasters caused a USD 313 billion global economic loss - 4% above the 21st-century average, of which USD 132 billion was covered by insurance, or 42% of total, according to the 2023 Weather, Climate and Catastrophe Insight report, published by the global re/insurance broker AON.
30 January 2023
