In 2019, the insurance market of Kazakhstan saw rapid growth, supported by life segment, mandatory products, and development of electronic policies for mandatory motor insurance. But, despite its impressive development during the past decade, it is yet to reach maturity, one of the latest AM Best's report shows.

Zurich Insurance Group (Zurich) announced an increase of USD 200 million to the USD 200 million 2.3% senior unsecured notes due 2030, issued on February 25, 2020 by Zurich Holding Company of America, Inc., bringing the total issue size to USD 400 million.

The regulator's plan to improve the market situation may result in closure of several insurance companies. The Central Bank recently announced the cancellation of the license of Standard Insurance company, while several other insurers may be closed as well, based on the regulator's improvement plan, Trend informed.

In the first quarter of 2020, according to the preliminary data reported by the company, the GWP of SBERBANK Insurance amounted to RUB 5.3 billion (~EUR 61.81 million), which reflects an increase of 33% y-o-y.

In the first quarter of 2020, the total number of concluded MTPL contracts reached almost 1.8 million units, which represents an increase of 0.5% y-o-y. At the same time, the corresponding GWP amounted to UAH 1.3 billion (~EUR 43 million, +20% y-o-y), as the Motor (Transport) Insurance Bureau (MTIBU) reports.

Johann STROBL, CEO of RAIFFEISEN Bank International AG (RBI), was elected to the Supervisory Board of UNIQA Insurance Group AG by the Annual General Meeting. He was proposed to replace Erwin HAMESEDER, who left UNIQA's Supervisory Board at the end of the Annual General Meeting on 25 May 2020. Click here to read more.

Carlos GONZALEZ-PERANDONES, currently Chief Sales Officer (CSO) of Nationale-Nederlanden Spain, has been appointed Chief Executive Officer of Nationale-Nederlanden Spain, effective 1 June: "This follows Cornelia COMAN's decision to leave NN Group to pursue opportunities outside our company".

On the second anniversary of the introduction of the EU General Data Protection Regulation (GDPR), Insurance Europe has published an insight briefing setting out its views on the Regulation ahead of the European Commission's upcoming review.

Global re/insurance broker Aon announced it has promoted Steve PETREVSKI as Senior Vice President and General Manager of Data & Analytic Services to drive its growth strategy through new capabilities that leverage emerging technologies for digital businesses and accelerate foundational Data and Analytic Services capabilities. PETREVSKI will report to John Bruno, CEO of Data & Analytic Services and COO of Aon.

AVIVA plc announced the appointment of George CULMER as Non-Executive Chairman with effect from the 27th May 2020, following the AVIVA AGM.

UNIQA Group ended the first three months of 2020 with a consolidated net result of EUR -13.2 million, COVID-19-related market effects forcing UNIQA to report a negative quarterly result for the first time since 2011 euro crisis. The result compares to an EUR 32.2 million net profit in the first quarter of 2019.

Damir HADZIC, President of the Management Board of Euroherc osiguranje dd Sarajevo, was reelected as President of the Management Board of the Association of Insurance Companies in the Federation of BiH (UDO FBiH) for the 2020-2024 term.

TUW PZUW, the mutual insurer established by the PZU Group in 2016, ended 2019 with written premiums worth PLN 690 million while doubling its net profit and technical result as compared with 2018 and reaching a 31% market share on the mutual insurance market in Poland.

For the first three months of 2020, Generali Group recorded a net profit of EUR 113 million, 84.8% lower year-on-year. The group's operating result reached EUR 1,448 million, up 7.6%, driven by P&C and Asset Management growths.

At the end of 2019 the SEE insurance market (the region formed by Cyprus, Greece and Turkey) totaled about EUR 15.3 billion in terms of GWP, 12.5% more y-o-y, according to preliminary figures centralized by XPRIMM.

For the first quarter of 2020, Vienna Insurance Group (VIG) recorded a net profit (after non-controlling interests) of EUR 85.8 million, 2.8% higher y-o-y.

VIG Re, part of the Austrian Vienna Insurance Group, ended the first three months of 2020 with a net profit of EUR 2.4 million, -42.5% lower y-o-y, impacted, as most reinsurers, by the effects of COVID-19 crisis on the financial markets and a higher volume of claims.

The Central Bank of Azerbaijan (CBA) has decided to revoke the license of Standard Insurance, as the agency FINEKO ABC.AZ informed.

The National Bank of Ukraine (NBU) continues its preparations for the transfer of regulatory functions of non-banking financial services market from the National Financial Services Commission, to become effective on July 1, 2020, Forinsurer reports.

Based on the results for 2019, RESO-Garantia will pay dividends to its shareholders in the amount of RUB 4.9 billion (~EUR 70.7 million), which is about half of the group's net profit (RUB 9.8 billion) recorded last year, ASN reports citing the press-service of the insurer.