News - Insurance
STATISTICS: Czech Rep. insurers: The number of property claims more than doubled in 2020
According to preliminary data released by CAP - the Czech Insurance Association, at the end of 2020, the GWP generated by the CAP members totaled CZK 141.21 billion (EUR 5.38 billion), up by 3.61% y-o-y.
25 February 2021Insurance Europe respond to the supervisory practices in case of breach of the SCR
Insurance Europe has published its response to a consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on its statement on supervisory practices and expectations in the case of an insurer breaching its solvency capital requirement (SCR).
25 February 2021STATISTICS: UZBEKISTAN, FY2020: life insurance lost more than 10% of its share in the market portfolio in a year
The insurance sector of Uzbekistan ended 2020 with a 4.50% GWP drop y-o-y (in local currency). Total amount decreased to UZS 2,209.67 billion (EUR 172.82 million*), according to data published by the Ministry of Finance of the Republic.
25 February 2021Hungary: Laszlo SEBESTYEN reelected as President of brokers association for the third time
Laszlo SEBESTYEN, the President of the largest Hungarian brokers' association (FBAMSZ - Hungarian Association of Independent Insurance Brokers) was given a mandate for another two years, informed Biztosito Magazin.
25 February 2021Cyber LockoutSM ransomware solution for cyber attacks
Volante Global a multi-class and multi-territory international managing general agent (MGA) platform, has launched an innovative cyber ransomware solution, Cyber Lockout, that combines ransomware insurance cover with the latest in cyber security technology.
25 February 2021The industry could free up to GBP 95 billion to boost the UK economy and tackle climate change
According to a report issued by KPMG for the Association of British Insurers (ABI), the Post-Brexit reforms to financial regulations could boost the UK economy and support the fight against climate change if refinements are made to Solvency II following the UK's departure from the EU.
25 February 2021GBP 2.5 billion for UK insurance claims after COVID-19 in 2020
The UK insurance market has to pay up to GBP 2.5 billion for COVID-19 insurance claims incurred in 2020, as the Association of British Insurers has announced in a press release. ABI members consider that GBP 2 billion are due to COVID-19 business interruption claims.
25 February 2021UKRAINE: in January 2021, GWP of the TAS group increased by more than 22% y-o-y
TAS insurance group, whose insurers are among the TOP-3 companies in the non-life and life insurance sectors of Ukraine, in January 2021 increased its total GWP by 22.4% y-o-y, to UAH 252.4 million (~EUR 7.39 million*), Forinshurer reports.
24 February 2021UKRAINE: Alexander ZALETOV headed the Department for Supervision of financial companies
Alexander ZALETOV headed the department for supervision of financial companies at the Department for supervision of non-banking financial services at the National Bank of Ukraine, Forinshurer said.
24 February 2021KYRGYZSTAN: insurance company KYRGYZSTAN received a diploma as the "Insurance company of the year -2020"
The State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic summed up the results of 2020, and awarded several financial market entities, as the regulator informed on its website.
24 February 2021KAZAKHSTAN: S&P: Life insurers to continue to see double-digit GWP growth in 2021
"S&P Global Ratings continues to positively assess growth prospects in the life insurance sector in 2021, which is supported by a number of regulatory initiatives and GWP increase from a low base in the past few years", says Ekaterina TOLSTOVA, Deputy Director of the Financial Institutions Group, S&P Global Ratings.
24 February 2021AZERBAIJAN: Xalq Sigorta: despite the challenging situation, the market experienced growth in 2020, as in previous years
Despite the problems caused by the COVID-19 pandemic, the insurance sector in Azerbaijan has seen growth in a number of segments.
24 February 2021Leadership changes at SCOR Global Life: Global Markets Organization
French reinsurer SCOR annouced three organizational moves "designed to further strengthen the organisation and support future success".
22 February 2021AEGON nominates CFO Matt RIDER for reappointment
AEGON's Supervisory Board will propose to the Annual General Meeting of Shareholders in June 2021 to reappoint Matt RIDER as Chief Financial Officer for a four-year term. Matt RIDER was first appointed as AEGON's CFO in 2017.
22 February 2021ALLIANZ, FY2020: EUR 1.3 billion impact of Covid-19 on operating profit
German insurer ALLIANZ posted FY2020 total revenues of EUR 140.5 billion,down by 1.3% y-o-y (EUR 142.4 billion in 2019) while its operating profit decreased by 9.3% to EUR 10.8 billion (vs. EUR 11.9 billion), mostly due to the adverse impacts from COVID-19 amounting to approximately EUR 1.3 billion.
22 February 2021NN Group reports FY 2020 operating result of EUR 1.9 billion
Dutch NN Group announced its operating result increased to EUR 963 million in H2 2020 from EUR 881 million the previous year, mainly driven by "a higher investment margin and lower administrative expenses at Netherlands Life".
22 February 2021AEGON posted net loss of EUR 147 million in the second half of 2020
Dutch insurance group AEGON reported a net loss of EUR 147 million in the second half of 2020, compared with a net profit of EUR 908 million in the second half of 2019.
22 February 2021AON: Insurance rates will continue to increase in 2021
According to the Q4 2020 Global Market Insights Report released by global re/insurance broker AON, insurance pricing is up across most lines and classes globally, as COVID-19 impacts, including the economic downturn, have resulted in heightened underwriting scrutiny and risk aversion from insurers.
22 February 2021CCN presents the annual performance: good underlying business activities and stable income for 2020
The annual performance of the CCN group increased with 0.2%, showing a satisfactory progress for 2020, with a good underlying business activities and stable income. The digital transformation process was one of the factors helping the company face the COVID-19 challenges.
22 February 2021UZBEKISTAN: ASIA Insurance: COVID-19 pandemic and forced quarantine showed the importance of digitalization and process automation
ASIA Insurance did not stop providing services during the quarantine period with insurance policies being sold and delivered, insured events being considered, obligations being fulfilled.
19 February 2021
