News - Insurance
UKRAINE: the number of e-MTPL policies in 2020 increased by 2.5 times
At the end of 2020, the number of electronic MTPL policies exceeded 3 million units, which is 2.5 times more y-o-y. The amount of premiums under electronic contracts reached UAH 2.6 billion/~EUR 74.84 million* (+176% y-o-y in UAH), MTIBU reports.
28 January 2021RUSSIA: INGOSSTRAKH: the capacity of the renewed program of outward reinsurance of technical risks for 2021 amounted to RUB 8.7 billion
INGOSSTRAKH has renewed its outward technical risk reinsurance program for 2021. The capacity of the program is RUB 8.7 billion (~ EUR 100 million), according to the insurer's press release.
28 January 2021European insurers support endorsement of IFRS 17 with some remarks
Insurance Europe and the CFO Forum have published a joint response to a consultation conducted by the European Financial Reporting Advisory Group (EFRAG) on its draft endorsement advice on International Financial Reporting Standard (IFRS) 17 - insurance contracts.
28 January 2021Croatia osiguranje is the first insurance company obtaining the Employer Partner certificate
After the certification process has been completed, Croatia osiguranje implemented the Employer Partner certificate, being the first insurance company to have obtained this prestigious certificate at the end of December.
28 January 2021GENERALI Group: new organizational structure; de COURTOIS and RYAN leave top management; senior executives form a management team reporting directly to the CEO
The Assicurazioni GENERALI Board approved, on 27 January, the Group new Group organizational structure, as proposed by CEO Philippe DONNET. A number of business operational units were created, their leadership being entrusted to senior Generali executives who will report directly to the Group CEO.
27 January 2021BELARUS: validity of MTPL policies may be extended to the entire territory of the Union State of Russia and Belarus
On January 20, at a meeting of the Commission of the Parliamentary Assembly of the Union of Belarus and Russia on legislation and regulations, it was proposed to extend validity of MTPL policies issued in Belarus and Russia to the entire territory of the Union State, BELTA informs.
27 January 2021UKRAINE: the largest part of compensations from the MTIBU guarantee funds in 2020 was paid for uninsured vehicles
In 2020, MTIBU (Motor (Transport) Insurance Bureau of Ukraine) paid to victims of road accidents from the Victim Protection Fund over UAH 215.7 million (~EUR 6.2 million*). At the same time, the number of payments decreased by 10.6% y-o-y, while the amount remained almost unchanged (+1.8%), according to the Bureau's press release.
27 January 2021RUSSIA: SBERBANK insurance: Vitaly PAVLOVSKY headed the corporate insurance block
Vitaly PAVLOVSKY has been appointed Managing Director - Director of the Corporate Insurance Directorate of SBERBANK Insurance, as the insurer announced on its website.
27 January 2021ARMENIA: in 2020, 5 out of 6 insurance companies included in the list of the largest taxpayers
By the end of 2020, 5 insurance companies out of 6, operating in the local market, were included in the list of 1000 largest taxpayers in Armenia, while a year ago there were only 3 insurers in this list, ArmInfo reports.
27 January 2021IIF2021: First registrations to the Insurance in the DIGITAL World Conference have started
Professionals from insurance industry will gather on 25 February in a virtual format at the Insurance in the DIGITAL World Conference in order to discuss about the ups and the possible traps of the digitalization journey.
26 January 2021Romania: health insurance expected to further grow in 2021, especially on the corporate segment
Except for the eventuality of the Covid-19 health crisis worsening, Romanian insurers display a moderate optimism with regard to the market evolution this year, hoping for a 5% to 10% growth throughout the year, top market professionals have revealed yesterday at the market gathering organized by XPRIMM.
26 January 2021AM Best withdraws, on request, the Credit Ratings of Rosgosstrakh Insurance Company, after affirming them
AM Best has affirmed, on 22 January, the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of "bb-" of ROSGOSSTRAKH Insurance Company, OJSC (RGS) (Russia). The outlook of these Credit Ratings (ratings) is stable.
26 January 2021Romania: introduction of the mandatory direct reimbursement procedure in motor insurance is the hot spot for 2021
Despite the challenging pandemic context, Romanian insurers managed to end 3Q2020 with an overall GWP growth of 4.8%, Cristian ROSU, Vice President for the Insurance - Reinsurance Sector within the market supervising authority (ASF) said on the occasion of the traditional forecast meeting organized by XPRIMM each year.
26 January 2021Olav SPIEGEL replaced Anton von BEBENBURG as AGCS CIO
Effective from January 1, 2021 Olav SPIEGEL has assumed the role of Chief Information Officer (CIO) of Allianz Global Corporate & Specialty SE (AGCS), reporting directly to AGCS SE Chief Operating Officer and Board Member Bettina DIETSCHE.
25 January 2021Green light for EUROHOLD to acquire the subsidiaries of CEZ Group in Bulgaria
The Bulgarian Energy and Water Regulatory Commission (EWRC) granted approval to EUROHOLD Bulgaria for the acquisition of the Czech energy company CEZ Group's subsidiaries in the country, as the financial holding announed in a statement.
25 January 2021Motor insurance predictions for 2021 made by Digital Insurance
According to Digital Insurance, there are several trends established in the motor insurance industry by the game-changing experience of Covid-19. They have described 6 of them as being likely to take place during this year.
25 January 2021AVIVA's Patrick TIERNAN to join LLOYD's as Chief of Markets
LLOYD's of London re/insurance marketplace has appointed AVIVA's Patrick TIERNAN to the newly created role of Chief of Markets, which will oversee market performance and distribution.
25 January 2021AM Best appointed Martin P. Sheffield as Non-Executive Director
Martin P. Sheffield was named the new member to AM Best Rating Services subsidiary's board as an Independent Director. The appointment took effect Jan. 1, 2021.
25 January 2021Digital innovation by SCOR will improve the underwriting process
Vitae, an innovative biometric risk calculator will be developed by SCOR in order to improve the underwriting process and is a cutting-edge biometric risk calculator based on advances in medical research and employing innovative Machine Learning techniques.
21 January 2021German insurers IT spending for the first time over EUR 5 five billion in 2019
The IT spending of German insurers rose by 15% y-o-y, to EUR 5.5 billion in 2019, the German Insurers Association (GDV) said. The boost provided by the pandemic to digitization will probably result in even higher expenses, but also in changed priorities in the digitalization journey.
21 January 2021
