Estonian start-up DriveX comes with a new technology that would help car insurance companies to save billions, reports www.businessworldreport.com.

Several organizations completely devoid of all insurance licenses have not removed from their names such words as insurance, reinsurance, mutual insurance, insurance broker, as well as their derivatives, which has been established by the Bank of Russia based on the results of conducted monitoring, as the regulator's press service informed.

From January to September 2020, GWP of INGOSSTRAKH amounted to RUB 88 billion (EUR 0.95 billion*), which is 5% more y-o-y. Of that amount RUB 80.2 billion (+2%) were received under direct insurance, and RUB 7.8 billion - from inward reinsurance (+33% y-o-y), according to the company.

Civil liability insurance of tour operators and travel agents in Kazakhstan for January-August 2020 decreased fourfold y-o-y and the segment's share in the total compulsory GWP dropped from 2.3% to 0.5%, which is explained by the impact of restrictions imposed due to the pandemic, Allinsurance.kz informed.

From January to September 2020, Armenian insurers paid taxes in the amount of AMD 1.6 billion (EUR 2.78 million*), which is 33.3% more y-o-y (vs a decline by 25% at the end of the same period in 2019), ArmInfo reports.

Insurance Europe has published its response to a consultation by the European Commission on the review of Solvency II. The organization believes that, while working well in general, Solvency II is excessively conservative, contains serious measurement flaws and imposes unnecessary operational burdens on Europe's insurers.

Following the 20 October 2020 plenary vote in the European Parliament to approve its legal affairs committee reports on a civil liability regime for artificial intelligence (AI) and a framework of ethical aspects of AI, robotics and related technologies, Michaela Koller, Insurance Europe's director general, said that "it is premature for the Parliament to consider mandatory insurance for high-risk AI systems".

Tomasz Rowicki will resign from his function as a member of the VIG Re Board of Directors in order to take up a new management position within a company of Vienna Insurance Group in Poland, effective 1 January 2021.

The German insurance group TALANX announced is expanding its business in Italy by acquiring through HDI Assicurazioni, a subsidiary of HDI International AG, the TALANX Group's Retail International Division - all the shares of Italian non-life insurer AMISSIMA Assicurazioni from AMISSIMA Holdings (indirectly owned by investment funds managed by affiliates of APOLLO Global Management, Inc.)

Reinsurer Swiss Re announced Swiss Re Capital Markets structured and placed the issuance of USD 775 million of insurance-linked securities (ILS) by Ursa Re II Ltd, to be used for the protection of the California Earthquake Authority (CEA).

QBE Insurance Group announced that Richard PRYCE will assume the role of Interim Group Chief Executive Officer while the company searches for a permanent replacement.

Global reinsurer MUNICH Re announced that during the third quarter of 2020, it registered COVID-19 related losses totaling about EUR 800 million in reinsurance. "The losses were attributable to various business lines, such as insurance for major events and other property-casualty lines, and the life and health business".

AVIVA announced the appointment of Mohit JOSHI and Jim MCCONVILLE as Independent Non-Executive Directors of the Company with effect from 1 December 2020.

Reuters Events has announced their upcoming event "The Future of Insurance Europe", which is the industry's most senior strategic conference, uniting top decision makers from across the insurance ecosystem. XPRIMM Publications supports the event as Media Partner!

Türk Reasürans A.Ş, which was established with the aim of contributing to the objectives of the New Economic Program, namely "Economic Balancing" and "Healthy and Sustainable Growth" in relation to the insurance market, increasing the local reinsurance capacity and ensuring resource efficiency, has completed its first year.

On October 19-20, 2020 the 7th Insurance Business Forum "Challenges of the year 2020" took place in Moscow. Two events were held within the Forum's framework: October 19 - Conference for responsible actuaries / October 20 - Conference for finance Directors and chief accountants.

Equip Global has just announced their 7^th Catastrophe Insurance & Risk Management Summit, held from 25 January to 28 January 2021, live online (Singapore). By joining the summit you will have the opportunity to hear more about catastrophe insurance, including risk management of such insurance. XPRIMM Publications supports the event as Media Partner!

One week before the official launch of the autumn edition of XPRIMM Insurance Report, the readers were offered a preview of the main conclusions of the report, commented by the special guests of the XPRIMM TIME for BUSINESS show: Prof. Karel Van HULLE from KU Leuven and Goethe University Frankfurt and Prof. Klime POPOSKI, Insurance department of St. Kliment Ohridski University, Macedonia.

The GWP value of Serbian insurers totaled RSD 55.85 billion (EUR 475 million) in the first half of 2020, a 4% increase y-o-y, according to the National Bank of Serbia's (NBS) most recent report on the sector.

Latvian insurance companies generated EUR 13.53 million in aggregate H1 net profit, 12% less than a year ago (EUR 15.37 million), the end-June figures published by FKTK (Financial and Capital Market Commission) showed.