News - Insurance
Romanian Government extends the cap on rates and commissions for MTPL insurance for another 3 months raising discontent in the sector
The Romanian Government has announced it decided on Wednesday, during its final meeting of the year, the cap on rates and commissions for MTPL insurance policies was extended by another three months, until March 31, 2025. The decision was met with protests from industry, as it threatens insurance brokers’ financial sustainability, as well as the level of financial protection in our society.
18 December 2024Agile hires David Hughes to lead London marine operation for its Lloyd’s Syndicate AUS2427
Agile Insurance Group today announced that David Hughes, formerly AXA XL’s head of marine hull and war for the UK and Lloyd’s, has joined as head of marine and as deputy active underwriter of Agile’s Lloyd’s syndicate – Agile Underwriting Services Syndicate AUS2427.
18 December 2024Who are the winners of the SCOR 2024 Actuarial Awards?
In 2024, SCOR presented its annual Actuarial Awards in seven countries: Australia, France, Germany, Italy, Singapore, Sweden, and Switzerland. This was also the inaugural year for the new SCOR Actuarial Awards in Asia-Pacific. The tradition of the Actuarial Awards date since 1996.
18 December 2024Swiss Re announces more ambitious targets for 2025
Swiss Re announced its targets for 2025, including a Group net income of more than USD 4.4 billion. The Group aims to grow the ordinary dividend per share by 7% or more per year over the next three years and maintains its multi-year IFRS ROE target of more than 14%, Swiss Re said in its report.
17 December 2024Talanx sets new targets to grow net income by 30% in 2027
The Talanx Group is setting its new targets for the next three years now that it is set to clearly exceed its 2025 targets a year ahead of schedule.
17 December 2024Sorin GRECEANU, General Manager of the Romanian Motor Insurers' Bureau, elected President of COB, with a 5-years mandated starting in June 2025
Sorin GRECEANU, General Manager of BAAR (the Romanian Motor Insurers' Bureau), was elected in early December 2024 as the President of the Council of Bureaux (COB) for a five-year term, starting in June 2025. The COB oversees the international MTPL insurance system, including the Green Card framework.
17 December 2024AXA’s Board of Directors appoints Ewout Steenbergen to replace Rachel Duan
Following the recommendation of the Compensation, Governance & Sustainability Committee, AXA’s Board of Directors has decided to appoint Ewout Steenbergen to replace Rachel Duan for the remainder of her mandate, that is until the 2026 Annual Shareholders’ Meeting, the press release says.
17 December 2024AIG and EBRD launch a highly innovative war risk insurance facility for Ukraine
AON, a leading global professional services firm, and the European Bank for Reconstruction and Development (EBRD) have structured a tailor-made and highly innovative facility supporting the revitalization of the war risk insurance market in Ukraine, the company said.
17 December 2024AIG closes sale of its Corebridge ownership stake to Nippon Life for USD 3.8 billion
American International Group (AIG), a leading global insurance organization, announced that is has successfully closed the previously announced sale of approximately 120 million shares (21.6%) of its Corebridge Financial, Inc. common stock to Nippon Life Insurance Company for USD 31.47 per share, for an aggregate purchase price of USD 3.8 billion.
17 December 2024Allianz introduces four new ambitious financial targets through 2027
Allianz introduces four new ambitious Group financial targets for the 2024-2027 period at its Capital Markets Day 2024 and commits to an attractive total payout ratio of at least 75% on average, according to the company’s press release.
17 December 2024ARMENIA: MTPL loss ratio continues to grow – in December it reached 81.5%
The MTPL loss ratio continues to grow on the Armenian insurance market, reaching 81.5% in December of this year (vs 70% a year earlier), ArmInfo writes based on data from the Armenian Bureau of Motor Insurers.
17 December 2024At the end of 3Q2024, KBC Group’s capital remains well above the minimum capital requirements
KBC Group’s capital remains well above the minimum capital requirements - at the end of the third quarter of 2024, KBC Group’s fully loaded CET1 ratio amounted to 15.2%, well above the new CET1 requirement, the Group said in its press release.
17 December 2024Bosnia and Herzegovina: in January-November the insurance market rises 9.7%
Total GWP of insurance companies operating in Bosnia and Herzegovina’s Federation increased by 9.7% y-o-y to BAM 672.4 million (EUR 343.8 million) in January-November of 2024, SeeNews writes with reference to official data.
17 December 2024BULGARIA: non-life represents 70.7% of total insurance assets at the end of September
The assets managed by insurance companies operating in Bulgaria amounted to nearly BGN 11.3 billion (EUR 5.8 billion) at the end of September, growing by 8.8% y-o-y, SeeNews writes with reference to the central bank.
17 December 2024CROATIA: ANO is expanding its operations by entering the market of Bosnia and Herzegovina
ANO, the first Croatian insurance broker and one of the leaders on the domestic market, is expanding its operations by entering the market of Bosnia and Herzegovina, osiguranje.hr writes.
17 December 2024CROATIA: UNIQA Hrvatska achieves excellent business results in the SEE region
UNIQA Hrvatska in the SEE region (Bosnia and Herzegovina, Serbia, Montenegro, Bulgaria, Croatia and Romania), achieved excellent business results in the first nine months of 2024: according to preliminary results, the premium collected grew by 14.4%, and profit before tax amounts to EUR 6.7 million.
17 December 2024MetLife and General Atlantic announced the formation of Chariot Reinsurance
MetLife and General Atlantic announced the formation of Chariot Reinsurance (Chariot Re), a to-be-registered Class E Bermuda-based life and annuity reinsurance company. Chariot Re is expected to launch in the first half of 2025 and will have a future strategic reinsurance partnership with MetLife.
17 December 2024MetLife introduces New Frontier five-year growth strategy
MetLife, one of the world’s leading financial services companies, hosted its Investor Day in New York City on December 12 and introduced the company’s powerful five-year growth strategy, New Frontier.
17 December 2024MOLDOVA: in January 2025, MTPL and Green Card tariffs will be liberalized
As of January 15, 2025, the cost of MTPL and Green Card will be liberalized on the Moldovan insurance market.
17 December 2024Munich Re sets net profit target of EUR 6 billion in 2025
Munich Re is aiming for an IFRS net profit of EUR 6 billion in 2025 thanks to good operational performance in all business segments. Group insurance revenue is expected to reach EUR 64 billion in 2025, and return on investment to improve to above 3.0%, the Group said.
17 December 2024
