News - Insurance
STATISTICS: RUSSIA, 3Q2020: Return on equity of insurers at its maximum on record - almost 35%
For the last 9 months of 2020 the market reached RUB 1.1 trillion/EUR 12.21 billion* (+3.1% in local currency), according to the data published by the Bank of Russia. The results were significantly impacted by the drop during the second quarter due to restrictive measures related to the pandemic.
17 December 2020STATISTICS: LATVIA, 3Q2020: 9 months insurers' profits expanded by 29% y-o-y
The Latvian insurance market totaled EUR 597 million at the end of September 2020, about 1.4% more y-o-y, according to data published by the Financial and Capital Market Commission (FKTK).
17 December 2020STATISTICS: UKRAINE, 3Q2020: Assets of insurers decreased by 4.6% since the beginning of the year
At the end of 3Q2020, the Ukrainian insurance market amounted to almost UAH 33 billion (EUR 0.99 billion*), which means a decrease of 18.72% y-o-y (in UAH). At the same time, paid claims increased by 13%, according to data from the National Bank of Ukraine.
17 December 2020VIDEO: XPRIMM TIME for BUSINESS: BULGARIA — Re/insurance markets facing the Covid crisis — LIVE, Today at 16:00 EEST
XPRIMM TIME for BUSINESS was held today, 16 December 2020, starting 16.00 hours (EEST) on the XPRIMM YouTube channel. This edition focused on the Bulgarian insurance market, discussing about the way it coped with the Covid-19 crisis and its perspectives for the future.
16 December 2020Insurance Europe: BEPS rules must reflect low risk posed by insurance
Insurance Europe has published its response to a consultation conducted by the Organisation for Economic Cooperation and Development (OECD) on the reports on its pillar two blueprint, which aim to create a single set of international tax rules to address base erosion and profit shifting (BEPS).
16 December 2020RUSSIA: from January to September, the number of MTPL reported insured events decreased by almost 22% y-o-y
For the period from January to September 2020, GWP of the TOP-10 MTPL insurers increased by 7.4%, to RUB 135 billion (EUR 1.46 billion*), and their share in the segment reached 82.3% (vs 81.7% a year ago), ASN reports according to the Bank Russia.
16 December 2020RUSSIA: for 9 months of 2020, the average commission of insurance brokers was the lowest among the five main sales channels through intermediaries
The average commission of insurance brokers from January to September 2020 amounted to 14.6% - the lowest among the five main sales channels through insurance intermediaries, ASN reports according to the head of the Council of the Association of Professional Insurance Brokers Katerina YAKUNINA.
16 December 2020Swiss Re Institute estimates USD 83 billion global insured catastrophe losses in 2020, the fifth-costliest on record
According to Swiss Re Institute's preliminary sigma estimates, in 2020 the insurance industry has lost from natural catastrophes and man-made disasters globally an amount of USD 83 billion. This makes it the fifth-costliest year for the industry since 1970.
16 December 2020MOLDOVA: the draft law on insurance and reinsurance activities passed its first reading in parliament
The draft law on insurance and reinsurance activities, which was approved by the Government in October this year and was developed by specialists of the National Commission for the Financial Market (CNPF) alongside experts from the World Bank, was adopted in the first reading in December during a regular parliamentary meeting, CapitalMarket reports.
15 December 2020KAZAKHSTAN: Daniyar ZHANBEKOV to become the new owner of Basel insurance company
The Agency for Financial Supervision of Kazakhstan issued a consent to businessman Daniyar ZHANBEKOV to acquire the status of a major participant in the Basel insurance company (ex. Kaspi Insurance). The sale should end no later than March 31, 2021, Allinsurance.kz reports according to Zakon.kz.
15 December 2020SLOVAKIA: ACHMEA to acquire POSTOVA Poistovna
The Dutch financial group ACHMEA announced is expanding its presence on Slovak insurance market by the acquisition of POSTOVA Poistovna after its local subsidiary - UNION and the shareholders of POSTOVA Poistovna - POSTOVA Banka and SLOVENSKA POSTA - had reached agreement on the transaction.
14 December 2020AGCS announced global leadership appointments
ALLIANZ Global Corporate & Specialty (AGCS) - the corporate insurance carrier of ALLIANZ Group announced leadership changes to Global Distribution, Mediterranean & Africa Region and the Group's French national insurer.
14 December 2020ZURICH and FARMERS Exchanges to buy MetLife P&C business in U.S.
ZURICH subsidiary FARMERS Group, Inc. (FGI) and FARMERS Exchanges agree to acquire MetLife's U.S. property and casualty business for USD 3.94 billion. ZURICH will contribute USD 2.43 billion through FGI and the FARMERS Exchanges USD 1.51 billion.
14 December 2020WTW: 4 in 5 companies plan to change ESG measures in executive pay plans over next 3 years
The global pandemic crisis sparked companies around the world to maintain or accelerate changes to their environmental, social and governance (ESG) priorities, one of the latest Willis Towers Watson (WTW) survey shows.
14 December 2020TALANX share to be delisted from Warsaw Stock Exchange
German insurer TALANX informed it aims to delist the TALANX share from the Warsaw Stock Exchange.
14 December 2020UNIQA to increase Green investments to at least EUR 1 billion over the next 5 years
Austrian insurer UNIQA announced the ESG (environmental, social and corporate governance) becomes a core element of its new strategy. Thus, as part of its new corporate strategy "UNIQA 3.0 - Seeding the Future", UNIQA informed is doubling down on its efforts to reach new goals in climate protection and sustainability.
14 December 2020AVIVA completed the fourth transaction in 2020: the sale of Hong Kong joint venture
AVIVA announces that it has completed the sale of its entire shareholding in its Hong Kong joint venture, AVIVA Life Insurance Company Limited (BLUE), to its joint venture partner, HILLHOUSE Capital.
14 December 2020AVIVA appoints ex-Head of HR at DEUTSCHE Bank as Non-Executive Director
AVIVA announced the appointment of Pippa LAMBERT as Independent Non-Executive Director of the Company with effect from 1 January 2021.
14 December 2020Focus on the Bulgarian market - XPRIMM TIME for BUSINESS, on 16 December
The forthcoming edition of the XPRIMM TIME for BUSINESS show will focus on the Bulgarian Insurance market - the way it coped with the Covid-19 crisis and its future perspectives. The show will air on Wednesday, 16 December, starting 16.00 hours (EEST) on the XPRIMM YouTube channel.
10 December 2020Insurance Europe: Insurance Capital Standard should better reflect risk posed to insurers
Insurance Europe has published its response to a questionnaire conducted by the International Association of Insurance Supervisors (IAIS) on infrastructure and strategic equity investments.
10 December 2020
