News - Insurance
CCR Re, 2021: unaffected by the health restrictions; net result of EUR 41 million
CCR Re was unaffected by the current health restrictions and reported total premiums worth EUR 843 million, up by 30% y-o-y, while the net result of EUR 41 million. The occurrence of the war in Ukraine is not expected to adversely affect CCR Re.
STATISTICS: Latvia: Insurers' 2021 business increased to EYR 850 m, while profits compressed by more than 32%
At the end of 2021, Latvian insurers' aggregate GWP (local and EU branches, summed-up) totaled EUR 849.4 million, up by 6.5% y-o-y, while the amount paid in claims and indemnities increased by 8% y-o-y to EUR 541.4 million, according to the year-end figures published by The Financial and Capital Market Commission of Latvia (FKTK).
New functionalities for Aon's Impact Forecasting Europe windstorm catastrophe model
Aon plc recently announced the updated functionality of its Impact Forecasting Europe windstorm catastrophe model, following insights gained from outbreaks of severe weather in recent years as well as user feedback.
Groupama posted strong growth in annual results for 2021
French insurer Groupama posted FY2021 combined premium of EUR 15.5 billion, up by 7.5% vs. 2020 figure. Life and health insurance increased by 10.6% to EUR 7.8 billion, while property and casualty insurance business was up by 4.0% y-o-y to EUR 7.5 billion. At the same time, the Financial businesses Division generated premium income of EUR 240 million, including EUR 233 million from Groupama Asset Management and EUR 6 million from Groupama Epargne Salariale.
UNIQA Ukraine continues to work and indemnify its customers
Ukrainian subsidiaries of the UNIQA Group, insurance companies "UNIQA" and "UNIQA Life", continued to work despite the war situation in the country and paid their clients indemnities worth UAH 27.1 million between 24 February and 10 March, a company announcement said.
Digital control of Green Card at the borders will be adopted by Turkey and its neighboring countries
Turkish Motor Vehicles Bureau (TMTB) agreed with in principle with its counterparts in Azerbaijan, Greece and Bulgaria to implement digital Green Card control at the border. The launch of the project was held in Baku, the capital of Azerbaijan, www.sigortadunyasi.com.tr reported.
No material impact on operations of Sava Insurance Group expected due to direct consequences of developments in Ukraine
Sava Insurance Group expects no material impact on its business results from the war in Ukraine, as its business volume and investment exposure to Russia and Ukraine are very low. An indirect impact on the Group's investment portfolio can be expected due to the trends in financial markets, the Group said.
Christoph SCHMALLENBACH is the new CEO of Generali Switzerland
Christoph SCHMALLENBACH, previously a member of the Board of Directors of Generali Germany, is to take over the role of CEO of Generali Switzerland from Andreas KRUMMEL who, after six years as CEO leaves the company to take on new challenges.
New Management Board elected at the Insurance and Reinsurance Brokers Association of Turkey
The General Assembly of the Insurance and Reinsurance Brokers Association has elected AON Turkey's Co-CEO Ferhan OZAY as President. He takes over the top position from Selcen GUR, CEO of Dogan Insurance and Brokerage, who has been the chairman of the Association since 2020.
LATVIA: Last year the LAA Ombudsman received 32 complaints about insurance
In 2021, the Ombudsman of the Latvian Insurers' Association (LAA) received 32 customer complaints about insurance services, and the largest number was received for property insurance (18), LAA wrote.
BULGARIA: MoitePari.bg and ABZ study: Lack of information is the main reason for lack of interest in life insurance
In Bulgaria, the lack of interest in life insurance is due to lack of information, according to the study conducted by the website MoitePari.bg and the Association of Bulgarian Insurers, aimed at establishing consumer attitudes towards life insurance products with a total of 371 participants, the Association said.
The Russian-Ukrainian crisis has no impact in CO business
Croatia largest insurer Croatia Osiguranje announced has no direct operations in insurance and reinsurance business with Russia and Ukraine - nor with reinsurance companies, brokers, MGA agencies, etc., thus the impact of the Russian-Ukrainian crisis, as well as sanctions imposed on Russia - have no impact on the Company's operations.
Triglav exposure to Russian-Ukrainian crisis is limited
Slovene re/insurance group Triglav announced its operations are to some extent exposed to the situation resulting from the war in Ukraine and related sanctions against Russia and Belarus.
TURKEY: Insurance supervision sets up a mechanism for insuring sea vessels and aircrafts operating the routes to Ukraine and Russia
Because of the war situation between Russia and Ukraine, the Turkish Insurance and Private Pension Regulation and Supervision Agency (SEDDK), will manage the insurance coverage issues of civil cargo and passenger sea vessels and aircrafts operating the routes between these countries and Turkey within the scope of the Special Risks Management Center until the end of 2022.
Talanx: SB appoints Caroline Schlienkamp as Board Member
German insurance group Talanx announced that Caroline SCHLIENKAMP has been appointed as a Member of the Board of Management of Talanx AG with effect from 1 May 2022, subject to agreement by the Federal Financial Supervisory Authority (BaFin).
SCOR postpones its Investor Day date to July 2022, currently focusing on the impact of Russia's invasion of Ukraine on its activity and protection of its employees
In light of the geopolitical situation and the humanitarian and global impacts of the war in Ukraine, SCOR has decided to postpone its Investor Day, initially scheduled for March 29, for July 2022.
NN Group announced changes to the composition of its Supervisory Board
Dutch insurer NN Group announced that its Supervisory Board has decided to nominate David COLE for reappointment as SB member & Chair for another four years and Hans SCHOEN for reappointment as SB member & chair of the Audit Committee for another two years.
MMC appoints Katherine BRENNAN Senior VP and General Counsel
Global re/insurance broker Marsh McLennan MMC announced the appointment of Katherine BRENNAN as Senior Vice President and General Counsel. She succeeds Peter BESHAR - nominated by President Biden and confirmed by the U.S. Senate to serve as the General Counsel of the U.S. Department of the Air Force.
NORTH MACEDONIA: ISA recommends insurance companies to invest the profit for 2021 and refrain from paying dividends
The Insurance Supervision Agency (ISA) has recommended to all insurance companies to refrain from paying dividends for their operations in 2021, as decided by the Council of Experts of the ISA at the last session held on March 10, the agency said.
CROATIA: in the first two months the market rose by about 6.3%
According to the data of the Croatian Insurance Bureau by the end of February 2022, insurance companies collected GWP in the amount of HRK 2.24 billion (EUR 296 million), which is an increase of 6.29% compared to 2021.
17 March 2022