News - Insurance
SCOR launches "Quantum Leap", the strategic plan that will accelerate the group's integration in the digital world
SCOR has presented in Paris, at its annual Investor Day, the group's new strategic plan, "Quantum Leap". The plan runs from July 1, 2019 to until December 31,2021 to coincide with the new IFRS 17 accounting standard that the Group will implement effective January 1, 2022.
5 September 2019Guy Carpenter and CyberCube: financial firms are the most impacted during systematic cyber-attack events
Guy Carpenter and CyberCube Analytics released the findings of a joint report that explores the size and shape of potential cyber catastrophes and the resulting financial impact on the U.S. cyber insurance market.
5 September 2019LATVIA: The average MTPL indemnity rose by 29% in three years
According to The Motor Insurers' Bureau of Latvia (LTAB), for the first half of 2019, the average MTPL indemnity was EUR 1,068, about 29% higher than the average MTPL claim from the first half of year 2016 (1H2016: EUR 826).
5 September 2019BELARUS: decree "On insurance" provides for innovations from September
As of September 1, 2019, the limits of insurance indemnity for accidents, documented without traffic police, have increased from EUR 400 to EUR 800 in Belarus, the BELTA news agency informs.
5 September 2019UKRAINE: new development strategy for the financial market until 2025 under discussion
Regulators of the Ukrainian financial market are inviting financial market participants, experts and international partners to discuss a new development strategy until 2025, Forinsurer reports.
5 September 2019UKRAINE: since February 2018 the number of MTPL e-policies exceeded 768 thousand
The total number of MTPL e-policies issued in Ukraine between February 7, 2018 (the date on the system introduction) and to September 1, 2019, reached 768.2 thousand, data of MTIBU (Motor (Transport) Insurance Bureau of Ukraine), quoted by Forinsurer, show.
5 September 2019KAZAKHSTAN: in January-July MTPL paid claims increased by 18% y-o-y amid the rapid aging of the fleet
Between January - July this year, Kazakh insurers paid KZT 16.7 billion (~EUR 39 million) in the most popular individual insurance class, MTPL, which is 18% more y-o-y, according to Allinsurance.kz.
5 September 2019KOSOVO: Insurers exempted from taxation on collected premiums
Insurance companies from Kosovo were exempted from paying the tax of 5% on turnover, including the 1% share that was redirected to the Red Cross of Kosovo.
5 September 2019Croatian insurers' business on other EU markets went up 3.5 times y-o-y in 2018
The total gross premiums written abroad by the Croatian insurers amounted to HRK 235.6 million (EUR 31.76 million), three and a half times more y-o-y. Out of the total premium production, GWP on foreign markets accounted for 2.39% (in 2017, 0.73%).
5 September 2019CCR Group, 1H2019: two-digit increase for the international business
France-based CCR Group released its first half of 2019 report. CCR, the public-sector reinsurer, reported a total amount of EUR 929 million written premiums (+3.5% y-o-y), while CCR RE, the global branch of the group, a total premium volume of EUR 441 million (+16% y-o-y).
5 September 2019STATISTICS: Hungarian insurers' GWP climbs more than 11% in H1
Hungarian H1 insurers' GWP rose 11.3% year-on-year to HUF 591.5 billion (~EUR 1.8 billion) according to the quarterly market figures published by the National Bank of Hungary (MNB).
5 September 2019STATISTICS: Albanian insurers' H1 premiums up by 5% y-o-y
The gross written premiums of Albanian insurers increased by 5% year-on-year in the first half of 2019, reaching ALL 8 billion (EUR 66 million), official market statistics show.
5 September 2019STATISTICS: TAJIKISTAN, 1H2019: market share of compulsory insurance exceeded 33% amid decrease in voluntary
In the first six months of 2019, the Tajik insurance market increased by about 4% in local currency, to TJS 97.40 million (EUR 9.07 million), according to the data, published by the National Bank of Tajikistan.
5 September 2019EVENT: Join the debates taking place at the 8th AIDA EUROPE CONFERENCE
Critical issues emerging from the development and application of Artificial Intelligence and how IDD addresses the implications of Insurtech are just a few of the topics analyzed during the 8th AIDA Europe Conference, taking place in October in Lisbon.
5 September 2019A.M. Best: Swiss Re takes over the Top 50 Global Reinsurance leading position from Munich Re
For the second time in the last three years, Swiss Re has topped the Top 50 Global Reinsurance groups ranking released by A.M. Best, taking over the leadership from Munich Re, the undisputed leader since 2010, except for 2016. In fact, while Munich Re leads the non-life sub-ranking, while Swiss Re holds the first position in the life insurance one.
4 September 2019EVENT: Uzbekistan insurance market reform, to be discussed on November 5th, 2019, in Tashkent
The government of Uzbekistan announced an ambitious reform plan for the currently underdeveloped insurance sector. The reform demands a substantial increase of the capital, as well as improvement of corporate governance procedures, reporting standards and competence of local insurance companies.
4 September 2019VIG won the first place among insurance companies in BEST RECRUITERS annual ranking
BEST RECRUITERS tested recruiting measures of 1,311 organisations in the German-speaking countries. Vienna Insurance Group (VIG) emerged as industry winner of insurances in Germany, Austria, Switzerland and Liechtenstein.
4 September 2019GROUPAMA, 1H2019: premium income of EUR 9.5 billion, sustained by the French business
France-based Groupama Group reported a total premium income of EUR 9,459 million for the first six months of 2019, showing an increase of 1.0% year-on-year, mostly sustained by French business, which grew by 1.9%.
4 September 2019JLT Re's David FLANDRO to join Hyperion X Analytics
David FLANDRO joins Hyperion X as Managing Director of Analytics, Reinsurance News informs. FLANDRO previously held the role of Global Head of Analytics of JLT Re.
4 September 2019AVIVA appoints ZURICH executive as COO
AVIVA has announced the appointment of Erica ARNOLD to the new role of Chief Operating Officer, reporting to Maurice TULLOCH.
4 September 2019
