News - Insurance
UZBEKISTAN: UZBEKINVEST recognized as the leader of the insurance market in 2021
UZBEKINVEST (leader of the local insurance market) became the winner of the Brand of the Year 2021 award in the nomination "Leader of the insurance market of Uzbekistan".
15 June 2022WTW appoints Timothy Pratt to its Insurance Consulting and Technology business
Global insurance brokerage firm WTW announced the appointment of Timothy Pratt as Director, Actuarial Property & Casualty (P&C), in its Insurance Consulting and Technology (ICT) business. In this role, Timothy Pratt will be responsible for leading project teams focused on designing and implementing client reserving solutions.
15 June 2022UKRAINE: insurance market's results for 2021 published by the National Bank
The National Bank of Ukraine (NBU) published a report on the non-banking sector for 2021, comprising 4Q2021 data on the insurance sector. The report is based exclusively on those insurers that submitted reports to the NBU as of May 16, 2022 (90% of non-life insurers and all life insurers).
9 June 2022Poland: lower incidence of motor insurance claims in the 1st quarter of 2022
In the first quarter of 2022, insurers paid a total of PLN 3.54 billion (approx.: EUR 0.77 billion) in claims from motor policies. Out the total, paid claims for MTPL insurance accounted for 57.6%, the Polish Chamber of Insurance said quoting data from the Information Centre of the Insurance Guarantee Fund.
9 June 2022Did you miss Insurance Europe's 12th International Conference? Watch the event now online
Protection gaps impact the health and wealth of both individuals and businesses. In a full day of debates and speeches, Insurance Europe's 12th International Conference examined what, where and why gaps exist, looking into exposures to natural catastrophes, cyber risks, inadequate pension saving and much more.
9 June 2022GERMANY: Insurers are pleading for an overall concept of insurance protection, climate change adaptation and prevention
With 2021 proving the costliest year ever for German insurers after the flood disaster in the Ahr Valley, the local insurance industry pleads for an overall concept of insurance protection, climate change adaptation and prevention as the only long-term sustainable alternative to compulsory insurance against natural hazards.
9 June 2022The Geneva Association: Sustainability is the dominant priority for insurance companies and their customers today
Reunited under the titles Building Bridges to a More Sustainable Future, 57 global insurance CEOs gathered at the Geneva Association's 49th General Assembly on 2-3 June in Venice, Italy, to align on how global challenges are impacting the insurance industry and how insurers can best support society in navigating these crises.
9 June 2022YAS MicroInsurance and Amodo Join Forces to Enable Autonomous Insurance On-Chain, Pioneering the New Era of Insurance in Smart Cities
YAS MicroInsurance (YAS), an insurance on blockchain frontier, is joining forces with Amodo, a telematics insurtech company, to deliver autonomous insurance on-chain. This collaboration symbolises the new age of insurance against the backdrop of smart cities, the partners stated.
9 June 2022Insurance Europe: EC Retail Investment Strategy must account for existing rules, be thoroughly tested and demonstrate proven benefits for consumers
To ensure the success of the new Retail Investment Strategy (RIS), the European Commission should only make changes that address a clearly identified need, at the same time acknowledging the qualities of the already existing legislation, Insurance Europe responded to the EC's call for evidence.
9 June 2022STATISTICS: ALBANIA, 1Q2022: GWP up by 6% y-o-y in Q1 2022; motor insurance classes responsible for 69% of the paid claims
At the end of March 2022, Albanian insurance market totaled ALL 4.28 billion (EUR 35.19 million), or 5.97% more y-o-y. During Q1 2022, the number of concluded insurance contracts reached 247,576 up by 21.99% compared to January-March 2021, official data provided by the Albanian Financial Supervisory Authority (AFSA) showed.
8 June 2022STATISTICS: BELARUS, 1Q2022: market growth was about 6% y-o-y (in local currency)
In the first quarter of 2022, GWP of the Belarusian insurance sector reached BYN 476.76 million (EUR 144.11 million), up only 6.22% y-o-y in local currency, according to data released by the Belarusian Ministry of Finance.
8 June 2022STATISTICS: BiH Q1 2022: insurers' business increased by 9.20% to over EUR 107 m
The insurance companies operating in Bosnia and Herzegovina reported aggregate Q1 2022 GWP worth BAM 209.81 million (EUR 107.27 million), up by 9.20% compared with the same period of 2021, according to the quarterly market figures published by the local insurance agency - AZOBIH.
8 June 2022STATISTICS: CROATIA, Q1 2022: 9% GWP increase, driven by the non-life insurance segment
The GWP of Croatian insurers increased by 9.02% y-o-y in Q1 2022, to HRK 3.54 billion (~EUR 468 million), according to the quarterly figures published on the website of the Croatian Insurance Bureau.
8 June 2022STATISTICS: KYRGYZSTAN, 1Q2022: the market expanded by about 44% y-o-y (in local currency)
According to the 1Q results, the insurance sector of Kyrgyzstan recorded an increase of about 44% y-o-y, reaching KGS 468.06 million (EUR 5.04 million), as the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic show.
8 June 2022STATISTICS: KAZAKHSTAN, 1Q2022: life insurance shrunk by 17% y-o-y
The first quarter of 2022, the insurance sector of Kazakhstan ended with an increase of 6.57%, reaching KZT 231.91 billion (EUR 454.22 million). Unlike premiums, paid claims increased by more than 34% y-o-y, as the data published by the National Bank show.
8 June 2022STATISTICS: SERBIA FY2021: the market has exceeded the EUR 1 billion threshold for the first time
The Serbian insurance market ended 2021 with aggregate GWP worth RSD 119.40 billion (EUR 1.02 billion), up by 8.64% y-o-y, according to the NBS's (National Bank of Serbia) year-end figures.
8 June 2022Mike Craston is the new Non-Executive Director of Aviva
Aviva announces that Mike Craston has been appointed as a Non-Executive Director of Aviva with effect from 17 May 2022.
6 June 2022Marsh McLennan Agency acquires Clarke Insurance
Marsh McLennan Agency (MMA), a subsidiary of Marsh, announced the acquisition of Clark Insurance, a leading independent agency in Maine. Terms of the acquisition were not disclosed.
6 June 2022Chubb appoints Cheryl Krauss Senior VP, Chubb Group and Chief Communications Officer
Chubb announced that Cheryl Krauss has been appointed Senior Vice President, Chubb Group and Chief Communications Officer, effective June 6.
6 June 2022Allianz to sell majority stake in Russian operations to Interholding
The Allianz Group has agreed to sell a majority stake in its Russian operations to Interholding, the owner of Russian P/C insurer Zetta Insurance. Upon the completion of the transaction, Allianz will hold a minority stake of 49.9% in the combined company.
6 June 2022
