News - Insurance
CZECHIA: Accidents with animals on Czech roads are increasing
The analysis of the Czech Accident Portal shows a long-term growing trend of increasing the number of accidents with animals. While there were 897 accidents in the second quarter of 2010, there were 4,041 accidents in the second quarter of 2022, the Czech Insurance Association said.
AZERBAIJAN: in 10 months, growth in life insurance exceeded 46%
In January-October 2022, life insurance premiums in Azerbaijan collected by five insurance companies reached AZN 327.1 million (~EUR 193.55 million), which is 46.6% more y-o-y, ABC.AZ wrote with reference to the data of the insurance association.
Eurohold's 9 months revenue tripled to EUR 2.4 billion
Eurohold Bulgaria AD, a leading energy and financial group in Southeast Europe, reported strong results in the third quarter of 2022 consolidating its very positive performance since the beginning of the year, according to the company's consolidated interim financial statement for the period.
Divis re-elected as to head the Czech Insurance Association for the next two years
CAP - The Czech Insurance Association announced in a statement the renewed structure of its highest body. As it does every two years, the assembly of association elected the nine members of its Presidium.
Aon names new leaders for APAC Reinsurance Solutions
Global re/insurance broker Aon announced two new leaders within its Reinsurance Solutions Asia Pacific (APAC) team.
Generali confirmed among the most transparent companies in digital communication
Italian Group Generali recognized as "Top performer" among European companies in providing governance-related information as well as in sustainability disclosure. The Group is in the European Top 10 of Webranking.
VIDEO: ESG or not to be? Europe's roadmap and its implications for insurers
"ESG or sustainability is not a short-term trend, but a structural change, one that we have hardly ever seen in the economic history throughout the last decades," stated Dieter Pscheidl, Head of European Affairs and ESG for Vienna Insurance Group (VIG) in the opening of the first episode of the XPRIMM TIME FOR BUSINESS series dedicated to ESG issues.
POLAND: MTPL insurers may be soon forced to raise MTPL tariffs
Polish insurance companies may be forced to increase MTPL rates for the first time since 2017, given the constant increase in the claims expenses, Gazeta Ubezpieczeniowa wrote, quoting Rankomat, a local comparison website. In Q2 2022, the average value of motor vehicle damage reached PLN 8,769.5, 5.2% up y-o-y.
Swiss Re Institute: Hurricane Ian drives natural catastrophe year-to-date insured losses to USD 115 billion
Hurricane Ian and other extreme weather events such as the winter storms in Europe, flooding in Australia and South Africa as well as hailstorms in France and in the US resulted in an estimated USD 115 billion of natural catastrophe insured losses this year to date, according to Swiss Re Institute.
STATISTICS: BELARUS, 3Q2022: market growth was only about 3% y-o-y
For 9 months of 2022, total GWP of Belarusian insurers amounted to BYN 1,358.45 million (EUR 567.06 million). The y-o-y increase was only about 3%, according to data published by the Ministry of Finance of the Republic.
STATISTICS: UZBEKISTAN, 3Q2022: 63% of all paid claims made in life insurance
According to the 3Q results, the insurance market of Uzbekistan grew by 69.51% y-o-y (in local currency), to UZS 4,462.28 billion (EUR 418.02 million), according to data published by the Insurance Market Development Agency under the Ministry of Finance.
Vienna Insurance Group announced the composition of its Managing Board as of 1 July 2023
Hartwig Loeger will become CEO of the Vienna Insurance Group, with Peter Hoefinger as his deputy starting 1 July 2023. At their own request, Elisabeth Stadler and Peter Thirring will not extend their mandates, which expire on 30 June 2023, due to planned retirements.
STATISTICS: Greek insurers posted subunit growth rate in 9 months 2022 GWP
According to the January-September 2022 preliminary insurance market figures published by HAIC - Hellenic Association of Insurance Companies, at the end of Q3, the Greek insurance market totaled EUR 3.19 billion, up by only 0.3% y-o-y.
STATISTICS: Turkish market exceeds EUR 8 billion at end-September
According to the quarter figures published by TSB - Association of Insurance and Reinsurance Companies of Turkey - at the end of September 2022 the local insurance market increased by 108% y-o-y reaching TRY 146.9 billion (~EUR 8.1 billion). In European currency, due to the exchange rates differences, the market change was only +18% y-o-y.
S&P: most CEE-6 economies would be in recession in 2023
Worsening geopolitical and financial conditions have dented growth momentum in Central and Eastern Europe. A sharp growth slowdown is already underway as persistently high inflation is eroding consumer purchasing power, financial conditions tighten, and the impetus from reopening economies and pent-up demand fades, S&P Global Ratings noted in the new report "Central and Eastern Europe: Growth Freezes, Risks Mount".
UKRAINE: the number of complaints against MTPL insurers decreased by 19% in 3Q
In the third quarter of 2022, the MTIBU received 294 complaints against MTPL insurers, which is 19.1% less than in the second quarter (363), Forinsurer reports with reference to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine).
TAJIKISTAN: new company enters the Tajik insurance market
In Tajikistan, by decision of the National Bank, a new company, DS Sugurta, began insurance activities, tj.sputniknews.ru reports referring to the press service of the Tajik regulator.
KYRGYZSTAN: insurers concluded 68,063 compulsory insurance contracts in the first 3Q of 2022
For the period from January to September 2022, insurance companies of Kyrgyzstan concluded 68,063 compulsory insurance contracts in the amount of KGS 126.87 billion (~EUR 1.61 billion), akchabar.kg writes with reference to the materials of the National Statistical Committee of the Kyrgyz Republic.
CROATIA: Hanfa approves Merkur osiguranja to take over Wustenrot zivotnog osiguranja
On November 14, the Board of Directors of the Croatian Financial Services Supervisory Agency (Hanfa) approved acquisition of 100% capital of Wustenrot Life Insurance (Wustenrot zivotnog osiguranja) by Merkur Insurance (Merkur osiguranja), osiguranje.hr reported referring to the agency.
BELARUS: Model law on MTPL may be adopted before the end of this year
The model legislative act "On the system of compulsory insurance of civil liability of owners of vehicles of the Union State" may be adopted before the end of this year, BELTA reports referring to Viktor Pinsky, Chairman of the Commission of the Parliamentary Assembly of the Union of Belarus and Russia on legislation and regulations.
7 December 2022