News - Insurance
UZBEKISTAN: UZBEKINVEST receives the "Best Insurance Company of the Year" award
The insurance company UZBEKINVEST received a special award as "The Best Insurance Company" and took first places in other two nominations at the Tashkent Advertising Festival TAF!21, gazeta.uz.
GEORGIA: 40% of GWP in 1H collected by companies affiliated with banks
For the first half of 2021, Georgian insurers collected premiums in the amount of GEL 446 million (~EUR 119 million*), 40% of which were generated by the companies affiliated with commercial banks, Business Georgia reports.
BELARUS: StrahExpertGroup won the Best Broker nomination in the insurance sector
The winners of the republican business competition "Noble Taler. Finance - 2021", the award ceremony took place on October 8 in Minsk. Business unions have awarded "Noble Taler" - the highest award of the business community of Belarus - to 12 financial organizations, according to the website of the
RUSSIA: Conference "Barrier-2021. Countering insurance fraud. New types of insurance, advanced technologies, and effective methods of struggle"
On October 19, 2021, in Moscow, at the Holiday Inn Moscow Lesnaya hotel (Lesnaya st., 15), the conference "Barrier-2021. Countering insurance fraud. New types of insurance, advanced technologies, and effective methods of struggle", organized by the MIG "Strakhovanie segodnya" with the support and participation of the All-Russian Insurance Association will take place.
Romania: One in 20 cars causes each year an accident covered by MTPL insurance; the highest frequency of claims is in the cargo transport sector
Annually, out of every 20 cars registered in Romania, at least one produces a road accident resulting in material damage or personal injury and death*. This frequency can vary significantly, reaching values of over 22% in the area of cargo transport, UNSAR - the Romanian insurers' professional association has stated.
STATISTICS: Double-digit H1 GWP growth rate for Bulgarian insurers
Bulgarian insurance market ended the first half of the year with a total GWP of BGN 1.63 billion (EUR 836 million), up by 12.9% y-o-y, according to the market figures from the Bulgarian Financial Supervision Commission (FSC).
Top-10 P&C insurer groups accounted for 25.3% of total P&C direct GWP worldwide in 2020
Top-10 P&C (non-life) insurer groups accounted for 25.3% of total P&C direct GWP worldwide in 2020 (down marginally from 25.5% in 2019), according to Insuramore's global rankings, their combined direct GWP reaching to ~USD 480.8 billion, while global P&C is worth ~USD 1.9 trillion in 2020.
UNSAR-IRES study: 9 out of 10 Romanians believe in the reality of climate change
Nearly 9 out of 10 Romanians (89%) believe that climate change is real, according to a new sociological survey conducted by UNSAR, together with IRES. The result is similar to those of the last two years, a sign that Romanians are aware and continue to be concerned about climate change and its effects.
NN Insurance Belgium to sale a closed book portfolio to Athora Belgium
NN Group announced that its subsidiary NN Insurance Belgium has the intention to sell a closed book life portfolio to Athora Belgium.
UKRAINE: in 1H2021 insurers' advertising and marketing expenses amounted to UAH 47 million
In the first half of 2021, the expenses of Ukrainian insurance companies on advertising and marketing remained at the level of previous years in the amount of UAH 47 million (~EUR 1.45 million*), of which UAH 39.8 million insurers spent on non-life insurance, and UAH 8.2 million - on life insurance, Forinsurer reports.
RUSSIA: SberInsurance received a rating from S&P
The international rating agency S&P has assigned SberInsurance, one of the leaders of the Russian market, a financial strength rating at BBB- with a stable outlook. The agency expects that in the future the company's capital will reach a level corresponding to the rating of BBB, the insurer said in its press-release.
POLAND: PZU: The pandemic has increased interest in insurance
The Covid-19 pandemic has increased interest in life and health insurance, noted Malgorzata SADURSKA, a PZU board member during the discussion at Congress 590 on how the financial market responds to the new fears and needs of Poles, Gazeta Ubezpieczeniowa reports.
New corporate director at Uniqa Insurance, Hungary
Tibor ZUBOR from Allianz will be the director of Uniqa Insurance's corporate business, portfolio.hu said referring the company's statement.
ESTONIA: The employer's health insurance has doubled in a year
According to the Association of Estonian Insurance Companies, the employer's health insurance has more than doubled in a year. This year, 510 employers have purchased voluntary health insurance, insuring a total of 20,400 employees. In the middle of last year, only 230 employers insured a total of 7,600 employees.
Lloyd's Insurance Company announces UK Branch leadership
Lloyd's Insurance Company S.A. (LIC) has announced leadership appointments for its UK branch. Mark COOPER has been appointed as Head of LIC UK branch effective 1 November, subject to regulatory approvals.
STATISTICS: SLOVENIA, 1H2021: balanced market growth on the main business segments
Slovenian insurers ended 1H2021 with GWP worth EUR 1.4 billion, 2.84% up y-o-y. Paid claims increased by 3.97%, to EUR 810.4 million. As the growth rates recorded by the life and non-life segments were comparable, their contribution to the market growth, in absolute terms, was also similar.
Swiss Re and leading mental health platform, Wysa, create mental wellbeing app designed specifically for insurance
Swiss Re has joined up with leading mental health platform, Wysa, to create an insurance-specific app that will help consumers better track their mental wellbeing and improve links to insurers' existing support networks, which will enable a "win-win" through earlier intervention in the claims journey
Marko Jazbec reappointed for a new term as Sava Re's Chairman of the Management Board
Sava Re's Supervisory Board reappointed Marko Jazbec, whose five-year term of office expires on 12 May 2022, as the Chairman of the Management Board for a further term. The new five-year term starts on 13 May 2022.
Life insurance, a support for Romanians during the COVID-19 pandemic
Almost two years have passed since the beginning of the COVID-19 pandemic, during which time the Romanian insurance industry has constantly adapted to consumers' needs, in some cases even by extending the coverage existing in the original policy wording.
STATISTICS: TURKEY, 1H2021: High inflation and local currency's depreciation affected the otherwise very good performance of the market
The impact of the Turkish Lira devaluation on the insurance market's results was quite significant in 1H. While the market showed a 17.11% y-o-y GWP nominal growth, to TRY 47.1 billion in local currency, the GWP volume denominated in Euro actually decreased y-o-y.
13 October 2021