News - Insurance
Pranav PASRICHA appointed Global Head P&C Solutions at Swiss Re
Swiss Re announced that Pranav PASRICHA, currently CEO of Intellect SEEC, has been appointed Global Head P&C Solutions of Swiss Re's global Reinsurance Business Unit, effective 3 August 2020.
23 July 2020Eurochambres signs a memorandum of understanding with Generali to promote the idea of a 'pandemic risk pool'
Eurochambres has entered a Memorandum of Understanding with Generali under which they agreed to cooperate so as to promote and implement a potential 'Pandemic Risk Pool' against future pandemic risks.
23 July 2020AM Best affirms credit ratings of Swiss Reinsurance Company Ltd and Rated Affiliates; Revises ICR Outlook to Negative
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "aa" of Swiss Reinsurance Company Ltd (Switzerland) and its rated operating affiliates. The outlook of both ratings is stable.
21 July 2020Swiss Re appointed Carlo BEWERSDORF as CEO of iptiQ, the group's digital insurance platform.
Carlo BEWERSDORF will start in this newly created role on 1 October 2020, reporting to Group CEO Christian MUMENTHALER. Carlo's appointment follows the recent announcement about the disbandment of Life Capital Business Unit and the establishment of iptiQ as a stand-alone division.
21 July 2020AM Best affirms credit ratings of Munich Reinsurance Company and its subsidiaries
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa" of Munich Reinsurance Company (Munich Re) (Germany) and its subsidiaries.
21 July 2020New Casualty appointments at SCOR Global P&C
French reinsurer SCOR announced key appointments within the P&C Business Unit, effective July 1st, 2020, "to further support our clients' Global and US Casualty portfolios".
20 July 2020KYRGYZSTAN: insurers' income in Q1 increased by over 20% y-o-y, while annual growth of the total insurance amount under contracts exceeded 48%
In January-May 2020, total insurers' income (of 16 companies operating on the market in 1Q2020) amounted to KGS 407.6 million (~EUR 4.52 million*), which is 20.2% more y-o-y.
20 July 2020Marco MORELLI appointed Executive Chairman of AXA IM and a member of AXA's Management Committee
AXA announced that Marco MORELLI, previously Chief Executive Officer of Monte dei Paschi di Siena, is appointed Executive Chairman of AXA Investment Managers (AXA IM) and a member of AXA's Management Committee, as of September 14. He will report to Thomas BUBERL, Chief Executive Officer of AXA.
20 July 2020Lloyd's Insurance Company appoints new General Representative for Spain and Portugal
Lloyd's Insurance Company confirmed it has appointed Jose NUNEZ as its Country Manager for Spain and Portugal (effective 1 July 2020), and General Representative for Spain and Portugal (effective 3 August 2020). The appointment is subject to regulatory approval by the National Bank of Belgium.
20 July 2020GUY CARPENTER announces senior appointments at GC FAC
Global reinsurance broker GUY CARPENTER part of Marsh & McLennan Companies (MMC), announced three senior appointments within its GC Fac division.
20 July 2020AVIVA completes the sale of 76% in FPIL for GBP 259 million
AVIVA confirms the completion of the sale of a 76% shareholding of Friends Provident International Limited (FPIL) to RL360 Holding Company Limited, a subsidiary of International Financial Group Limited (IFGL).
20 July 2020AM Best affirms Credit Ratings of Lloyd's
AM Best has affirmed the Credit Rating of several units of the Lloyd's group, thus reflecting the Lloyd's balance sheet strength, which the agency categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
20 July 2020XPRIMM is announcing the online launch of two of its most important insurance reports
XPRIMM Insurance Report, containg the financial results for the full year 2019 for over 30 countries in Central and South - Eastern Europe and the former sovietic countries, as well as analysis and interviews with relevants stakeholders
16 July 2020The Polish KNF gets higher authority in relation with the foreign insurers operating on the principle of a single license
On 2nd of July 2020 the Act of 28 May 2020 amending the Act on compulsory insurance, the Insurance Guarantee Fund and the Polish Motor Insurers' Bureau as well as the Act on insurance and reinsurance activity was published, beinsured portal reported. The new regulations introduce new rules for the supervision of foreign insurers.
16 July 2020International General Insurance Holdings' Financial Strength Ratings Confirmed by S&P Global
Ltd. (IGI) announced that S&P Global Ratings has confirmed its financial strength ratings at A- with a Stable outlook. The ratings apply to IGI's two subsidiaries International General Insurance Co. Ltd. (Bermuda) and International General Insurance Company (UK) Ltd.
16 July 2020UKRAINE: MTIBU: payments for uninsured vehicles in total amount of paid claims for the first half of the year reached almost 66%
In January-June 2020, MTIBU (Motor (Transport) Insurance Bureau) made payments from the guarantee funds of the Bureau in the total amount of UAH 104.3 million (~EUR 3.49 million*).
16 July 2020Appointments approved in the top risk management positions at the Polish VIG and WARTA companies
The Polish Financial Supervision Authority decided on July 14, 2020 on several appointments for the position of risk management responsible in four insurance companies belonging to the VIG si WARTA groups.
16 July 2020STATISTICS: UZBEKISTAN, 1Q2020: Life insurance dropped by more than 36%, while mandatory classes saw impressive growth
In 1Q2020, the market of Uzbekistan reduced volumes by 3.77% in local currency, to UZS 503.12 billion (EUR 47.3 million*). The down trend was recorded in life insurance and voluntary types, while non-life and mandatory insurance increased, according to the data, published by the Ministry of finance of the Republic.
16 July 2020STATISTICS: TURKEY, 1Q2020: Insurance sector sees 25% y-o-y growth at the end of the quarter
Total GWP generated by the insurance industry in Turkey reached TRY 21.83 billion (EUR 3.03 billion) in the first three months of this year, representing an increase of 24.79% compared to the corresponding period of 2019, according to data from the Insurance Association of Turkey -TSB.
16 July 2020STATISTICS: Serbian insurers' GWP rises 8.52% in Q12020
The GWP of Serbian insurance companies increased 8.52% in Q1 2020, reaching RSD 26.94 billion ~EUR 229 million), NBS quarterly data showed.
16 July 2020
