News - Insurance
BELARUS: new legislation, adopted in 2019, aims to liberalize the insurance market
The main achievement in 2019 for the insurance market was adoption of the Presidential Decree No. 175, aiming at liberalization of the insurance business, according to the magazine "Insurance in Belarus".
2 April 2020Anna JANICZEK appointed acting president of PZU Zdrowie
Anna JANICZEK was appointed to the Management Board of PZU Zdrowie SA, the health insurance arm of the PZU Group. She will simultaneously act as the President of the Management Board, the Supervisory Board of PZU Zdrowie SA decided.
2 April 2020UZBEKISTAN: Asia Insurance assigned uzA++ rating, stable outlook
The rating agency of Uzbekistan, Ahbor-Reyting, based on the results of monitoring the company's activities in 2019, assigned Asia Insurance a solvency national rating of uzA++ with a stable outlook, the insurer reports.
2 April 2020Triglav Group remains financially stable with strong capital base
Triglav Group's capital adequacy was 223% as at the 2019 year-end (2018: 216%), staying within the target range in accordance with Triglav Group's capital management policy.
2 April 2020STATISTICS: POLAND, FY2019: The largest CEE market reported positive rates and almost EUR 15 billion in aggregate GWP
The largest CEE insurance market reported positive dynamic in terms of premiums, according to the year-end figures from the Polish Financial Supervision Authority (KNF).
2 April 2020STATISTICS: BOSNIA AND HERZEGOVINA, FY2019: Insurers' GWP up by 7% y-o-y
Last year, the BiH insurance market totaled EUR 390 million (BAM 762.5 million), 7% more y-o-y, as data from the local insurance agency - AZOBIH shows.
2 April 2020TALANX CFO appointed to the Supervisory Board of DEUTSCHE Bahn
TALANX Chief Financial Officer Immo QUERNER was appointed to the Supervisory Board of Deutsche Bahn on Wednesday, 25 March, informed the German insurers on its website.
1 April 2020CZECH REP.: Detected insurance frauds' value doubled within the last nine years
Czech insurers, members of the Czech Insurance Association (CAP), examined a total of 8,474 suspicious claims in 2019, thus detecting insurance frauds amounting to CZK 1.133 billion (~EUR 41.4 million), which is double as compared with the year 2010 (CZK 624 million), CAP stated.
31 March 2020ARMENIA: January-February MTPL policies number increased almost 6% y-o-y
During January-February 2020, the number of e-MTPL policies in Armenia amounted to 16,448 units, while the share of electronic policies in total number of MTPL agreements reached 11% (vs. 3% a year ago), ArmInfo reports, based on the Armenian Bureau of motor insurers data.
31 March 2020PZU's Estonian branch: Coronavirus related travel insurance claims growing fast
Estonian PZU Kindlustus, part of the PZU Group, has already paid out some EUR 100,000 in travel insurance claims related to the coronavirus outbreak, the local press reports. The company representatives said the number of claims has lately exceeded 50 per day in several occasions.
31 March 2020Latvian parliament approves the nomination of Girts RUDA as Member of the FKTK Board
The Financial and Capital Market Commission (FKTK) announced Saeima - the parliament of the Republic of Latvia approved the nomination of Girts RUDA as Member of the FKTK Board.
30 March 2020Lloyd's FY2019 results: capital management and solvency in strong position to respond to COVID-19
Lloyd's announced a return to profit of GBP 2.5 billion (pre-tax) for 2019, representing an improvement of GBP 3.5 billion on the previous year (2018: a loss of GBP 1.0 billion) and an 8.8% return on capital (2018: (3.7%)).
30 March 2020Guy Carpenter enters into strategic partnership with RiskGenius
Guy Carpenter announced that it has entered into a strategic relationship with RiskGenius, to revolutionize the detection and qualitative analysis of silent cyber exposure across various lines of business.
26 March 2020AZERBAIJAN: "updates" to the legislation of compulsory insurance are required
In 2020 Azerbaijan is expecting changes in insurance legislation, especially related to compulsory insurance, according to the Chairman of the board, the Association of insurers of Azerbaijan, Azer ALIYEV, as Trend news agency informed.
26 March 2020STATISTICS: RUSSIA, FY2019: market GWP stagnated amid paid claims' rapid growth of 17%
Market GWP at the end of 2019 remained almost unchanged y-o-y in local currency, amounting to RUB 1.48 trillion (~EUR 21.3 billion). At the same time, market paid claims increased by almost 17% (in local currency), to RUB 610 billion (~EUR 8.8 billion), as the data published by the Central Bank show.
26 March 2020STATISTICS: GEORGIA, FY2019: paid claims grew 5 times faster than GWP in local currency
At the end of 2019, the Georgian insurance market recorded an increase of 15.27% y-o-y in local currency. The market GWP amounted to GEL 625 million (~EUR 195 million). At the same time, the paid claims jumped by more than 76% y-o-y (in GEL), as the data of the market supervisory authorities show.
26 March 2020STATISTICS: CZECH REP., FY2019, CNB figures: Non-life insurance maintained the market dynamic in positive area
The Czech National Bank - CNB most recent figures show that at the end of 2019 the local insurance industry totaled about CZK 165.92 billion (~EUR 6.53 billion), up by 6.63% y-o-y.
26 March 2020CROATIA: the Zagreb earthquake drew attention once again on the low insurance coverage for Nat Cat
Although it is still early to know the insured losses recorded by Croatia after the 5.5 magnitude earthquake that hit Zagreb on Sunday, it seems that very few of the buildings and homes affected by the event are insured for the earthquake risk, so the impact on the local insurers' business will be modest.
25 March 2020TURKEY: new standardized calculation method introduced for the MTPL claims starting 1 April
As of 1 April, new provisions introduced in the general rules related to compulsory MTPL will take effect, providing for standardized criteria for the compensations calculation, a recent press release of the Insurance Association of Turkey (TSB) has announced.
25 March 2020TURKEY: Over 8 milion homes still need to be covered by earthquake insurance
More than 8 million residential properties in Turkey still need to be covered by earthquake insurance, according to Resit CAKAS, President of the Association of Insurance Agencies (SAB), informed Middle East Insurance Review. Resit CAKAS noted that at present, in Turkey approximately 9.6 million houses are insured.
25 March 2020
