German insurance group ALLIANZ will become the sole owner of ALLIANZ China Life Insurance, after ALLIANZ China Insurance Holding and CITIC Trust signed an equity transfer agreement.

On the second panel of the 10th annual Conference of EIOPA the speakers discussed about the Coronavirus pandemic which has highlighted lack of cover for many businesses, but protection gaps also exist for natural catastrophes and cyber security. In the area of savings, the pension gap is one of the most serious issues facing people across all ages and demographics. How can the insurance and pensions sector strengthen society's resilience and close gaps was commented by:

At the 10th anniversary, EIOPA Conference has started the discussion with a look at the future and the challenges arising from the current crisis and which is the role for the insurance and pension sector plays in fostering shared resilience and economic recovery.

Hannover Re grows premium on improved prices in 1 January treaty renewals and confirms guidance for 2021

Makoto Okubo, General Manager, International Affairs - Nippon Life Insurance Company and Alin Nita, Entrepreneur and General Manager, FivePlus Solutions have joined the exquisite team of speakers lined up by the forthcoming Insurance in the DIGITAL World Conference (25 February, 14.00 EEST).

"It is deeply regretful that the EIOPA BoS has chosen to push forward with these flawed changes. While 75% of PRIIPs are insurance-based, the changes only seek to facilitate the application of the PRIIPs KID to Undertakings for Collective Investment in Transferable Securities (UCITS), and will make the PRIIPs KID significantly worse than it is now for consumers buying insurance-based products, William Vidonja, head of conduct of business at Insurance Europe", commented.

After two successful mandates as Chairman of the European Insurance and Occupational Pensions Authority (EIOPA), totalizing 10 years, Gabriel Bernardino will leave this position in March. Peter Braumuller, the current Vice-Chairperson of EIOPA will act as interim Chairman until a final appointment will be made.

"We are well prepared to navigate our way through the reshaped market conditions while we focus on the needs of existing clients and explore opportunities to support new ones," Fikret Utku Ozdemir, General Manager, Milli Re has stated in a recent interview with Al Bayan Magazine.

LOVCEN osiguranje - local non-life insurer owned by Slovene TRIGLAV, and GRAWE osiguranje - the Montenegrin life unit of Austrian insurance group GRAWE - are in terms of GWP, according to the year-end 2020 market statistics published by Insurance Supervision Agency of Montenegro the largest insurers in the Adriatic country.

Europe has published its response to a questionnaire by EIOPA (European Insurance and Occupational Pensions Authority) on the application of the Insurance Distribution Directive (IDD).

Starting with January 1, 2021, UNIQA Serbia has began the process of strategic transformation" UNIQA 3.0" by applying a new governance model which includes the harmonization of processes in 15 markets in Central and Eastern Europe.

The two earthquakes experienced by Croatians last year, when many of them had to bear the losses of their pocket in the absence of an insurance policy, seem to have finally raised awareness of the need for earthquake protection, leading to a visible increase in demand for such policies.

The insurance sector of Kyrgyzstan, after a decrease seen in the third quarter, ended 2020 without losses (in local currency) - GWP remained almost at the level of 2019 (+0.15% y-o-y), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.

Despite all the challenges of 2020, the insurance sector of Azerbaijan ended the year with an increase of almost 7% (in local currency), GWP amounted to AZN 728.63 million (EUR 348.80 million) at the end of December, as follows from the data published by the Central Bank of the country.

KAFIL SUG'URTA has been assigned a new solvency rating on the national scale at "uzA+", which means an extremely high level of solvency for an insurance company, the insurer said.

Astrum Ukraine LLC that owned 99% of shares of the Kyiv based Forte Life insurance company has reduced them to zero.

In Turkmenistan, a list of high-risk works and categories of workers employed in high-risk production conditions, subject to compulsory state personal insurance against industrial accidents and occupational diseases, has been approved, Turkmenportal said.

At the InsurSelling-2021 conference, which took place on January 27, SBERBANK Life Insurance received an award "For taking life insurance products to online".

In 2020, according to the data collected from insurance companies, income of the insurance sector in Kazakhstan increased by 18.5% y-o-y to KZT 589 billion (~EUR 1.14 billion*). At the same time, investment income increased by 40% to KZT 128 billion, and income from insurance - by 12.8% to KZT 458.1 billion, writes Allinsurance.kz.

The MARSH & McLENNAN Companies (MMC) reported Q4 2020 consolidated revenue of USD 4.4 billion, an increase of 4% compared with the fourth quarter of 2019, or 1% on an underlying basis. Operating income was USD 571 million compared with USD 592 million in the prior year period.