News - Insurance
AM Best revised the ratings of AzRe to positive from stable
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of AzRe Reinsurance, OJSC (AzRe) (Azerbaijan).
4 December 2019MAPFRE appoints two CEOs in Turkish and Indonesian subsidiaries
MAPFRE announced the appointments of Stefan JENSEN as CEO of MAPFRE Turkey and Herlin Sutanto as CEO of MAPFRE Indonesia.
4 December 2019EUROINS, 9M2019: group revenues rose by 44% y-o-y
For the first nine months of 2019, Euroins Insurance Group (EIG), part of EUROHOLD Bulgaria AD, reported revenues of BGN 962 million (~ EUR 492 million), up by 43.9% year-on-year.
4 December 2019BiH: GRAWE Banja Luka to absorb ATOS Osiguranje
At the end of November 2019, the General Meeting of Shareholders of ATOS Osiguranje passed the decision to merge with GRAWE osiguranje ad Banja Luka, the Republika Srpska branch of the Austrian insurance group, Indikator.ba reports.
3 December 2019HUNGARY: MNB introduces consumer-friendly home insurance system
The Central Bank of Hungary (MNB) announced the introduction of Certified Consumer-Friendly Home Insurance system (Minositett Fogyasztobarat Otthonbiztositas - MFO), to be available to consumers starting Q1 2020.
2 December 2019KOSOVO: CBK allows insurers to adjust MTPL tariffs to inflation
Central Bank of the Republic of Kosovo (CBK), based on the International Monetary Fund review over the stability of financial sector of Kosovo, initiated the evaluation process over risk premiums on MTPL business line.
29 November 2019Swiss Re's solutions for the CEE markets' development
Central and Eastern European is the only real growth area we can notice in the whole European insurance market, according to Christian KREUTZER, Market Head ACEE & Transaction Lead NCEE, Swiss Re, in an exclusive interview for www.xprimm.com
28 November 2019CROATIA Osiguranje entrusts Sapiens International Corporation with its P&C business digital transformation
CROATIA Osiguranje, a leading Croatian insurer, has selected Sapiens IDITSuite for Property & Casualty and Sapiens ReinsuranceMaster, as well as other tools provided by Sapiens International Corporation for its digital transformation program.
28 November 2019Heavy rainfall caused a total of EUR 6.7 billion in damage in Germany between 2002 and 2017
On average, 133 out of 1,000 residential buildings were damaged by particularly heavy rainfall in Germany, between 2002 and 2017, the average sum spent by Germans to restore their homes amounting to EUR 5,293.
28 November 2019Allianz X to invest in SDA SE Open Industry Solutions
Allianz X, the digital investment unit of the Allianz Group, Debeka, msg group and SIGNAL IDUNA will invest in SDA SE Open Industry Solutions to support the development of new innovative digital services in the insurance industry.
28 November 2019STATISTICS: BULGARIA, 3Q2019: Non-life units of DZI, GENERALI and ALLIANZ were the most profitable Bulgarian insurers at the end of third quarter
Bulgarian insurers reported nine months aggregate GWP of BGN 2.18 billion (EUR 1.11 billion), 17.17% more y-o-y, according to quarterly market statistics published by FSC.
28 November 2019STATISTICS: KYRGYZSTAN, 3Q2019: over half of total GWP comes from property insurance
At the end of September 2019, GWP of the Kyrgyz insurance market saw an increase by almost 15% y-o-y (in local currency), to KGS 734.38 million/EUR 9.65 million, as the data, published by the National Statistical Committee of the Republic, show.
28 November 2019STATISTICS: TAJIKISTAN, 3Q2019: voluntary insurance keeps almost 70% of the market
By the end of 3Q2019, the Tajik insurance market grew by almost 19% in local currency, while in euro the growth was 22.18%. GWP amounted to KGS 168.47 million (EUR 15.90 million), according to the data, published by the National Bank of the country.
28 November 2019RUSSIA: S&P: industry and country risk in the property/casualty insurance sector is high
S&P Global Ratings assessed industry and country risk in the Russian property/casualty (P/C) insurance sector as high (foreign currency BBB-/ Stable/ A-3 ; local currency BBB/ Stable/ A-2), as the agency stated in its report.
28 November 2019AZERBAIJAN: compulsory health insurance to be introduced in 2020 throughout the country
Introduction of compulsory health insurance (CHI) in the country is proposed to be done in 4 stages throughout the country in 2020, said Zaur ALIYEV, the Chairman of the Board, the State Agency for compulsory health insurance of Azerbaijan.
28 November 2019NN Hungary to appoint new CEO
Michal HUCAL will be appointed Chief Executive Officer (CEO) of NN Hungary, effective 1 January 2020, subject to regulatory approval, as the Dutch insurance group informed in a statement. "As CEO of NN Hungary, he will focus on continuing our growth in the local market".
28 November 2019VIG Re, 9M2019: gross premiums written volume expanded by 20%
At the end of September 2019, for nine months ended, VIG Re gross written premiums (GWP) volume rose by 19.9% year-on-year, to EUR 404 million.
28 November 2019VIG, 9M2019: net profit increased 9.5%
Vienna Insurance Group (VIG) reported a net profit of EUR 226.5 million for the first nine months of 2019, 9.5% higher that the net profit of the same period prior year.
27 November 2019KAZAKHSTAN: S&P sets industry and country risk of property and casualty insurance to moderately high
S&P Global Ratings assessed the industry and country risk of Kazakhstan's P/C insurance sector as moderately high, as the agency stated in its comments.
27 November 2019ALBANIA: Economic losses of more than USD 100 million after strongest earthquake in decades
More than 21 people have been killed and over 600 more injured after Albania was rocked by its strongest earthquake in decades, informed Euronews Albania, though many expect the number to increase.
27 November 2019
