News - Insurance
UKRAINE: NBU is looking for a new director of the Department for Supervision of the Non-Banking Financial Services Market
In August 2022, Olga MAKSIMCHUK voluntarily completed her work at the National Bank of Ukraine (NBU) as Director of the Department for Supervision of the Non-Banking Financial Services Market,
18 August 2022KAZAKHSTAN: As of July 1, the assets of the insurance sector increased by 5% y-o-y
As of July 1, 2022, the assets of the insurance sector of Kazakhstan increased by 5% to KZT 1.97 trillion (EUR 4.05 billion), as the update to the previous news says.
18 August 2022GEORGIA: Ardi signs investment agreement with Gazelle Finance
Insurance company Ardi, one of the top 5 insurers in Georgia in 1Q2022, signed an investment agreement with the multinational investment fund Gazelle Finance, as a result of which the fund became a strategic shareholder of Ardi, Business Georgia.reports.
18 August 2022AZERBAIJAN: from January to July, compulsory health insurance increased by more than 40% y-o-y
For seven months of this year, from January to July, compulsory health insurance increased by 40.5% compared to the same period last year, up to AZN 458.6 million (~EUR 263.56 million). The forecast was fulfilled by 103.3%, Trend wrote.
18 August 2022STATISTICS: AZERBAIJAN, 1H2022: the market growth is supported by life insurance, which jumped by 27% y-o-y
In the first half of 2022, the insurance sector of Azerbaijan grew by 8.67% to AZN 491.60 million (EUR 276.63 million). At the same time, paid claims fell by more than 29%, reaching AZN 174.92 million (EUR 98.43 million), according to statistics published by the National Bank.
11 August 2022STATISTICS: KAZAKHSTAN, 1H2022: life insurance business' decline continues, premiums dropping by 18% y-o-y
In the first half of 2022, the insurance sector of Kazakhstan grew by 4.03%, to KZT 445.89 billion (EUR 912.31 million). At the same time, insurers' paid claims, in contrast to premiums, jumped by more than 36%, reaching KZT 80.81 billion (EUR 165.35 million), according to data published by the National Bank.
11 August 2022Hannover Re confirms FY 2022 profit guidance with sustained profitable growth in H1
German reinsurer Hannover Re is confirming its earnings guidance for 2022 after generating Group net income of EUR 649 million in the first six months (vs. EUR 671 million in H1 2021). At the same time, gross premium recorded further double-digit growth: +19.9% to EUR 17.3 billion vs. EUR 14.5 billion in H1 2021.
11 August 2022Allianz confirmed FY2022 operating profit outlook of EUR 13.4 billion, plus or minus EUR 1 billion
German insurer Allianz announced 1H 2022 revenue worth EUR 81.2 billion (+7.2%), operating profit worth EUR 6.7 billion (+1.2%) and net income attributable to shareholders of EUR 2.3 billion, a decrease of 52.7%, "mostly due to a provision booked in 1Q in relation to the AllianzGI U.S. Structured Alpha proceedings".
11 August 2022SERBIA: MTPL prices have increased by an average of 22%
In the first week of August, insurance companies increased MTPL prices by an average of 22%, with inflation and the subsequent higher prices of spare parts as main causes. There is also an increase in the prices of transport services, damage assessments, as well as in the prices of working hours in service centers, the Association of Serbian Insurers wrote.
9 August 2022LATVIA: Insurers have received claims from farmers for damaged crops, total loss amount is EUR 3 million so far
By the end of July, Latvian insurance companies have received about 300 claims from farmers for crops damaged by heavy rains and wind. Janis ABASINS, president of the Latvian Insurers' Association (LAA), admitted that this number will definitely increase, lsm.lv wrote.
9 August 2022BULGARIA: ABZ: the share of agroinsurance in non-life premiums dropped four times by March
According to data from the Association of Bulgarian Insurers (ABZ), the share of agricultural insurance in the non-life segment, which is already very small, has dropped four times - from 0.74% in March 2021 to only 0.19 % in March 2022.
9 August 2022Marsh: Global commercial insurance prices increased 9% in Q2
Global commercial insurance prices increased by 9% in the second quarter of 2022 (down from an 11% increase in Q1), according to the Global Insurance Market Index released by global re/insurance broker Marsh, continuing a trend of moderating rate increases that began in Q1 2021.
9 August 2022Hannover Re appoints Sharon Ooi to the Executive Board to oversee P&C Expansion in Asia-Pacific
The Supervisory Board of reinsurer Hannover Ruck SE has appointed Sharon Ooi as an additional member of the Group's Executive Board effective January 2023.
9 August 2022STATISTICS: KYRGYZSTAN, 1H2022: business of insurers grew by almost 28% y-o-y
The insurance sector of Kyrgyzstan ended the first half of 2022 with an increase of almost 28% y-o-y. Total GWP amounted to KGS 998.14 million (EUR 11.94 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.
4 August 2022Generali Group, 1H 2022: operating result up to EUR 3.1 billion
Generali reported continued growth in the operating result in 1H 2022, reaching EUR 3.1 billion (+4.8%), thanks to the positive performance of the Life, P&C and Holding and other businesses segments. The net result was stable, excluding Russian impairments. Capital position remained extremely solid
4 August 2022Insurance Europe: EC proposal for European Health Data Space welcomed; further work needed to avoid legal uncertainty
Insurance Europe has responded to a consultation conducted by the European Commission on its proposal for the establishment of a European Health Data Space (EHDS). The proposal lays out a new governance framework for the primary and secondary use of health data in the EU.
4 August 2022Insurance Europe: Lessons learnt from PSD2 review must be applied to future EC open finance proposals
Insurance Europe welcomes the stated intentions of the European Commission to carry out a comprehensive review of the application and impact of PSD2, including an overall assessment of whether it is still fit for purpose and what challenges have arisen in its application, the federation said in its published comments on the issue.
4 August 2022AZERBAIJAN: PASHA Life's business expands 31% y-o-y in the second quarter
PASHA Life Insurance, the leading life insurer in Azerbaijan, continued to maintain its leading position in the second quarter of 2022 with a total capital of AZN 57.8 million (~EUR 32.47 million). The company's total assets amounted to AZN 495 million, Trend wrote.
3 August 2022TAJIKISTAN: insurers paid claims' expenses increased by 30.4%
According to the National Bank of Tajikistan, insurance payments and compensations from January to June 2022 amounted to TJS 10.1 million (~EUR 0.99 million), which is 30.4% more y-o-y, according to the regulator.
3 August 2022Swiss Re posted H1 net income of USD 157 million
Swiss Re reported a net income of USD 157 million and an ROE of 1.6% for the first half of 2022, compared with a net income of USD 1.0 billion and an ROE of 8.2% for the same period in 2021.
3 August 2022
