International General Insurance Holdings Ltd. (IGI) announced its financial results for the third quarter and first nine months of 2020. The unaudited figures show a net profit for the third quarter of 2020 of USD 9.5 million (3Q2019: 4.3) and a net profit for nine months ended of USD 20.7 million (9M2019: 19.2).

Aon launched a new edition of its monthly Global Catastrophe Recap report, this edition evaluating the impact of natural disaster events occurred worldwide during October 2020. According to Aon's figures, Europe suffered more than EUR 6.9 billion economic losses caused by NatCat events during this period.

Re/insurer CHUBB announced the appointment of John LATTER as Senior Vice President, Claims Director for the company's Europe and Eurasia & Africa regions.

This year, the Bank of Lithuania — the single supervisory authority for the whole financial sector in Lithuania, including the insurance market — conducted a mystery shopping exercise to evaluate the practices of certain companies and persons offering training and consultation on savings and investment.

Dutch insurer ACHMEA announced is contributing about EUR 130 million from its reserves to limit the increase in its basic health insurance premiums for next year. This amount will be charged against the result for the financial year 2020.

Croatian Insurance Days, the traditional event organized each autumn by by the Croatian Insurance Bureau (HUO) in partnership with the Croatian Chamber of Commerce, the Croatian Actuarial Society and the Croatian Insurance Law Association, was held online this year via web streaming. XPRIMM supported the even as Media Partner.

Ratings are under pressure for the Turkish insurers' Insurer Financial Strength from the Negative Outlooks on the Turkish sovereign and Turkish banks' ratings, according to the report released by the agency.

The Spanish Association of Young Insurance Professionals (AJPS) has launched YGIN, Young Global Insurance Network, an international network for young professionals in the insurance sector. For 12 months, in Romania it will be represented by Alexandru Ciuncan.

Wednesday, 18 November at 14.00 hours Tbilisi time (GMT + 4), the second edition of the Georgian International Insurance Conference will take place, in a virtual hybrid format hosted on the Zoom platform and broadcasted live on the XPRIMM YouTube channel.

Continuing the list of markets that the show aims to analyze, the new international edition of XPRIMM TIME FOR BUSINESS gave the opportunity to the guest speakers to talk about the challenges that the pandemic has brought to the Russian re/insurance market and how did it face with the new changes.

ROSGOSSTRAKH Life has paid RUB 3.7 million (~EUR 40 thousand*) for insured events related to COVID since the beginning of the pandemic (from April to October 2020), the insurer said in a press release.

Global insurance premiums expected to grow by 3.4% in real terms in 2021, after contracting an estimated 1.4% in 2020, according to the latest sigma study. At the same time, world GDP is expected to contract by 4.1% this year in what is so far the deepest recession of our lifetimes.

Sven FOKKEMA, the member of TALANX AG's Board of Management responsible for the Retail International division, will leave the company by mutual agreement and on the best of terms as of 31 December 2020, as the German insurer announced in a statement.

According to the quarter figures published by TSB - Association of Insurance and Reinsurance Companies of Turkey - at the end of September 2020 the local insurance market increased by 22.4% y-o-y reaching TRY 59.3 billion (~EUR 6.5 billion*).

During the first three quarters of 2020, the GWP volume in Kazakhstan insurance market increased by 8.5% y-o-y, to KZT 411.3 billion (~EUR 819 million*), according to data published by the country's National Bank. At the same time, over 60% of the market GWP growth was provided by life insurers, their share in the market premiums increasing by 2.1 percentage points to 38.5%.

Bosnian insurers reported aggregate 3Q2020 GWP of BAM 569.13 million (~EUR 290.99 million*), according to the most recent market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.

In January-September 2020, income tax of Ukrainian insurance companies amounted to UAH 1.245 billion (~EUR 37.54 million*), which is 21.3% more y-o-y, Vice President of the League of Insurance Organizations of Ukraine (LIOU), Aleksandr ZALETOV, said.

From January to September 2020, the income of insurers in Kazakhstan increased by 24.6% y-o-y, to KZT 428.6 billion (~EUR 0.85 billion*), Allinsurance.kz reports.

A new Law on Compulsory Traffic Insurance was adopted in the Federation of Bosnia and Herzegovina (FBiH), one of the two administrative entities that form Bosnia and Herzegovina (BiH). The new Law replaces the Law on MTPL insurance from 2005.

ONIX Asigurari S.A. has been rated by Fitch with a score of 'BB' Insurer Financial Strength (IFS) and a 'BB-' Issuer Default Rating (IDR) according to the agency's report, released on 5 November.