News - Insurance
KYRGYZSTAN: Arzybek KOZHOSHEV appointed Chairman of the State Service of regulation and supervision of the financial market
Arzybek KOZHOSHEV was appointed Chairman of the State Service of regulation and supervision of the financial market under the Ministry of Economics and Finance of the Kyrgyz Republic, as announced on the website of the market regulator.
Partnership between Eurohold and J.P. Morgan AG for taking over the assets of the CEZ group in Bulgaria
Eurohold, the Bulgarian public holding and an independent financial and insurance group operating in the CEE/SEE/CIS region, has mandated J.P. Morgan AG to act as its lead and exclusive arranger for structuring the debt financing related to the deal with CEZ Group.
Insurance Europe: Multi-pillar pension systems and PAYG can produce positive outcomes
The European Union can play a role in supporting and promoting the efforts of member states to boost the financial (and digital) literacy of vulnerable persons. This includes raising awareness of the need to prepare for retirement and of the benefits of long-term saving, according to a paper issued by Insurance Europe.
Lloyd's appoints new rating agency and receives AA- financial strength rating
Lloyd's announced that it has appointed Kroll Bond Rating Agency (KBRA) to provide an additional independent opinion of Lloyd's financial strength "and further demonstrate the market's exceptionally strong financial position to investors and customers".
CIG Pannonia is the potential buyer of Hungarian Aegon unit
RUSSIA: NAAI: from 2018 to 2020 subsidized agroinsurance more than tripled
According to the National Association of Agriculture Insurers (NAAI), in 2019-2020 all NAAI insurers increased their activity in the agroinsurance with state support.
RUSSIA: The 5th forum of insurance innovations InnoIns-2021 to be held on April 27
On April 27, 2021, the 5th InnoIns-2021 Insurance Innovation Forum will take place. The event will be held in a mixed, online + offline format. Forum speakers and moderators will gather in a studio, while the rest of the participants will work online. The forum of insurance innovations InnoIns-2021 is held by MIG Insurance Today and the analytical agency BusinessDrom with the support and participation of the All-Russian Insurance Association.
VIDEO: CONFERENCE PROPERTY INSURANCE - in a connected world
The COVID-19 crisis made and continues to make the headlines since the beginning of 2020. Yet, as the worst pandemic ever is expected to lose its intensity in the months to come, there are pre-existing grave topics on the agenda that are far from losing ground and are equally far from finding an all-encompassing solution.
STATISTICS: Slovak Rep., 2020 Insurers' business decreased almost 5% y-o-y
Last year, the Slovak insurance market totaled EUR 2.17 billion, 4.75% less y-o-y, according to the end-year statistics published by the National Bank of Slovakia (NBS).
Major economies could lose roughly 10% of GDP in 30 years reveals Swiss Re Institute's stress-test analysis
Swiss Re Institute has issued the Climate Economics Index a stress-tests analysis on how climate risks will impact 48 countries representing 90% of the world economy and ranks their overall climate resilience. It shows all countries will be affected, but some are more vulnerable than others.
Swiss Re: Financial Condition Report issued for legal entities domiciled in Switzerland
Swiss Re has published the 2020 Financial Condition Report for the Swiss Re Group and regulated re/insurance legal entities domiciled in Switzerland for the reporting period ended 31 December 2020.
Christophe GAUDRON and Michel DEN BOER are named at Guy Carpenter on European Area
Guy Carpenter & Company announced the appointments of Christophe GAUDRON as CEO, Guy Carpenter France, effective January 01, 2022, and Michel DEN BOER as Managing Director, Treaty Broking, Guy Carpenter Benelux, with immediate effect.
NBG shareholders approved the sale of Ethniki
Th National Bank of Greece, the shareholder of Ethniki Asfalistiki - the largest and the oldest insurer in the country - announced that on Extraordinary General Meeting of its Shareholders held on April 21st 2021 remotely in real-time via teleconference it was approved the sale of 90.01% in the company to CVC.
KPI for insurers' investment activities should be based on a ratio of assets
Insurance Europe agrees with the European Insurance and Occupational Pensions Authority (EIOPA) that for insurers' key performance indicators the alignment with taxonomy-aligned activities should be assessed based on non-life gross premiums and the assessment of funding taxonomy-aligned economic activities should be based on the investments.
Fruit growers in Croatia hit by a wave of low temperatures and frost; insurance coverage is limited
After a warm March, low temperatures and frost have recently hit Central and Western Europe, some countries experiencing the coldest months of April ever observed, with temperatures well below freezing. Winegrowers and fruit growers in Croatia, France, Italy and parts of Germany said their hopes for good crops were ruined.
Dunav osiguranje designated the consumer's favorite insurance brand in Serbia
Serbian "Dunav osiguranje" is the winner of this year's award "Consumer's favorite" in the insurance category, designating the most popular brands on the Serbian market. Organized by the association "My Serbia" and with the support of the City of Belgrade, the contest awards the best brands based on the consumers' votes.
AON: ARA's 2020 GWP increased by 6% y-o-y to USD 294 billion
Despite the combined effects of around USD 25 billion of pandemic and natural catastrophe related losses and a compromised investment return, Aon's Reinsurance Aggregate (ARA) of reinsurers was able to report positive earnings for the year and an increased capital base, aided by demonstrated access to new funding.
UZBEKISTAN: one of the largest losses in the history of the Uzbek insurance market settled by Uzbekinvest National Export-Import Insurance Company and Malakut Insurance Brokers
Uzbekinvest National Export-Import Insurance Company and Malakut Insurance Brokers settled a USD 2.9 million fire loss at a cotton pulp mill in Tashkent region of Uzbekistan, according to Malakut.
RUSSIA: Moscow saw the 25th Anniversary Annual Reinsurance Conference on April 14-15, 2021
INGOSSTRAKH took part as a General Partner and GIC Reinsurance as a Partner of the 25th Anniversary Annual Reinsurance Conference hold on April 14-15 in Moscow.
RUSSIA: paid claims of SBERBANK Life Insurance on credit insurance in January-March increased by 38% compared to the first quarter of 2020
Paid claims of SBERBANK Life Insurance on credit insurance in January-March 2021 reached to RUB 2.5 billion (~EUR 28.17 million*). Compared to the first quarter of 2020, the number of paid claims increased by a third, and their volume - by 38%, according to the insurer's press release.
27 April 2021