The insurance market of Kosovo totaled EUR 46.36 million at the end of June 2020, 4.29% less y-o-y, data provided by the Central Bank (CBK) showed.

On the evening of June 11, a high-risk fire broke out in the meat processing and production workshop of the company "Lido", located in Riga. The flames had affected a two-story production building - a hangar-type warehouse, an administrative room and a smoking workshop. During the fire, a total of 600 square meters of premises were damaged.

In the first half of 2020, the inflow of foreign direct investment decreased 2.4 times y-o-y, to USD 164.4 million, according to the National Statistical Committee of the Kyrgyz Republic.

Aon published its first six months of 2020 Reinsurance Aggregate report ('the ARA'), series tracking the financial performance of leading reinsurance carriers in the global market. The report found that reinsurers' capital position remained robust at the end of 1H2020, after a strong capital market recovery in the second quarter.

It is estimated that about 140 thousand unregistered / uninsured vehicles circulate on the roads of Kosovo, which cause damage to millions of insurance companies, but also the Kosovo budget, the Insurance Association of Kosovo reports.

Between 24 and 25 November, The Future of Insurance Europe online event, organized by Reuters Events and supported by XPRIMM Publications, is set to take the industry by storm.

Belgium-based holding company active in the banking, insurance and asset management sector - KBC Groep NV announced its BoD appointed Koenraad DEBACKERE as Chairman of the Board of Directors succeeding Thomas LEYSEN.

The Romanian new created non-life insurer NN Asigurari, part of Dutch NN Group received from the Financial Supervisory Authority - the authorization to operate as non-life insurer on local market.

The Central Bank of Hungary (MNB) intend to change the premiums paid by customers on MTPL insurance (kgfb in Hungarian) by January 1, 2021. About a week ago, it calls local insurers to review the tarrifs taking into account the "kgfb database" which has been accessible to insurers now for three quarters.

As a result of the Covid-19 pandemic, the P&I WorldPensionSummit 2020, supported by XPRIMM Publications as Media Partner, becomes a fully virtual experience, offering a series of benefits for its delegates.

Yulia GAVRILINA has been appointed as Reinsurance Director of SBERBANK Insurance, as the company announced on September 21, 2020.

On September 11, 20202, a resolution of the Council of Ministers of the Republic of Belarus was adopted, which amended the procedure for transferring obligations by insurance companies under voluntary insurance contracts, insurance reserves and fund balances of preventive measures to other insurance companies, according to the website of the Ministry of Finance.

Ilijana Jelec, Member of the Management Board of the Croatian Financial Services Supervisory Agency (HANFA), said that Croatian insurance market GWP is expected to drop by 4.4% year-on-year, at the end of 2020.

Narodna banka Slovenska (NBS), the Slovakian national supervisory authority, has issued an interim measure banning new business from NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poistovna a.s. (NOVIS), until specified conditions are fulfilled by NOVIS.

The 5.5 magnitude earthquake that hit Zagreb on March 22, 2020 has materialized for the Croatian insurers, in 6,255 claims settled so far, worth EUR 25.73 million. Expectations are that the final bill for insurers will amount to EUR 55 - EUR 63 million.

State-owned Turkey Insurance and Turkey Life Pension (Turkiye Sigorta ve Turkiye Hayat Emeklilik) is expected to boost insurance coverage in Turkey, increasing the sector's share in the national financial market from the current 4.5%, to as much as 20%.

Toyota Insurance Services* (TIS)/Toyota Insurance Management Europe and Swiss Re are partnering up to further develop the Swiss Re ADAS risk score. TIS is the next partner after BMW Group to join the ADAS risk score platform and will, as part of the partnership, make Toyota and Lexus vehicle data available for the purpose of insurance scoring.

The national rating agency Expert RA, based on the assessment of the financial condition of RSHB-Life insurance, assigned the company a credit rating at ruAA level with stable outlook, the insurer informed in its press-release.

Standard Insurance company's license was revoked this year in May and the Compulsory Insurance Bureau of Azerbaijan, based on the Azerbaijani legislation, is fulfilling its obligations under the company's compulsory insurance contracts. The Bureau paid already compensations to about 1,000 creditors, as Trend reported referring to the Bureau.

Croatian non-life market fared extremely good in the first eight months of the year, recording a slight increase, which is also due to the Croatian insurance players stepping out of the country and operating in Austria, Slovenia and Italy as well, Hrvoje PAUKOVIC, Director, Croatian Insurers' Bureau stated during the XPRIMM TIME FOR BUSINESS aired yesterday on YouTube.