News - Insurance
David BENEDEK joins the Management Board of Zavarovalnica Triglav
On 29 August 2019, Zavarovalnica Triglav announced that David BENEDEK has assumed the office on the Management Board of Zavarovalnica Triglav, for a five-year term.
Julie SWEET appointed as CEO of Accenture
Julie SWEET was assigned the role of Chief Executive Officer of Accenture, joining the company's board of directors. She succeeds David ROWLAND, who was assigned as interim Chief Executive Officer on January 10th.
Sirius Group to form Global Management Committee
Sirius Group announced a generous list of changes in the management structure across the company, a set of "enhancements to unify the global operating structure" and to empower a number of key leaders inside the group.
Andy TAYLOR will be the new CUO of TransRe
TransRe has appointed Andy TAYLOR as Chief Underwriting Officer for the London, Continental Europe, Middle East, Africa and Asia Pacific businesses.
STATISTICS: NORTH MACEDONIA, 1H2019: life, MTPL and fire insurance fed the market growth
Macedonian insurers ended 1H2019 with an aggregate GWP volume of EUR 85.37 million, 6.7% up y-o-y. In relative terms, the life insurance sector showed a double-digit growth rate, but in absolute value, it was still the non-life insurance segment providing for the largest contribution to the market growth.
STATISTICS: KOSOVO, 1H2019: Market profitability affected by the claims reserves increase
By the end of the first half of 2019, Kosovan insurance companies have written EUR 48.4 million in GWP, 7.8% more than the level recorded in the first half of the prior year (1H2018: EUR 45 million).
STATISTICS: MOLDOVA, 1H2019: paid claims growing more than twice as fast as GWP in local currency
In the first half of 2019, Moldovan insurers generated GWP in the amount of MDL 769.48 million (EUR 37.27 million), about 9% more y-o-y. At the same time, growth of paid claims was much more impressive - by 18.81%, up to MDL 347.02 million, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF).
STATISTICS: BELARUS, 1H2019: life insurance increased by almost 31% y-o-y
In the first half of 2019, GWP of the Belarusian market amounted to BYN 689.9 million (EUR 296.72 million), which in local currency is 13.63% more y-o-y. At that, paid claims increased by only 9.16%, to BYN 333.56 million (EUR 143.46 million), data published by the Ministry of Finance show.
UKRAINE: MTIBU: in January-June 20 MTPL insurers got high rating
According to the quarterly assessment of the MTIBU (Motor Transport Insurance Bureau of Ukraine), in the first half of the current year, 20 MTPL insurers out of 48 bureau members received a high rating, as Forinsurer reports.
KAZAKHSTAN: life insurance provided 80% of the market y-o-y growth for January-July
During the January - July 2019 period, total market GWP increased by KZT 57.1 billion/~EUR 0.13 billion (+23%) y-o-y. At the same time, about 80% of that increase was provided by the life sector, as Allinsurance.kz reports.
RUSSIA: total insured area of agricultural crops increased 5 times in the first 7 months of this year
National Association of Agricultural Insurers (NAAI) announced improvements in the Russian agricultural insurance business, for the first seven months of 2019. The total insured area was of 2.8 million hectares, 5 times the size of the same period of prior year.
LATVIA: new liability limits for drone insurance
On August 13th, the Government of Latvia approved the draft over "unmanned aircrafts and other aircrafts" regulation, according to which all drones that weight over 250 grams (~0.55 lbs) are required to carry a civil liability insurance.
POLAND: Guarantee Fund will grant new benefits to motor accidents victims
Insurance Guarantee Fund of Poland (UFG) announced it will be compensating the victims of accidents from the past years, in the cases where insurers' motor liability insurance funds have been exhausted.
The PZU Group, 1H2019: EUR 2.8 billion in GWP and EUR 345 million net profit for the parent company
The PZU Group has achieved in 1H2019 the highest net financial result attributed to the parent company for the first half of the last five years, of PLN 1.48 billion, while the group's efficiency ratios were better than planned.
ERGO Germany implements FRISS AI in claims management process
ERGO Germany successfully implemented FRISS Fraud Detection at Claims system in their claims management activity. ERGO Germany will take advantage of artificial intelligence (AI) to optimize their portfolio and fasten the claims management process.
ZURICH, 1H2019: business operating profit went up by 16% y-o-y
Zurich Insurance Group reported a business operating profit (BOP) of USD 2.8 billion at the end of the first half of 2019. The evolution reflects an increase of 16% compared to the profit of the same period of prior year.
UNIQA, 1H2019: notable growth in CEE and SEE markets
UNIQA Group announced a "solid" first half of 2019, with a net profit of EUR 105.6 million and a total volume of written premiums (GWP) of EUR 2.8 billion. Health segment saw the highest growth in terms of GWP (+3.4%), while Life insurance shrunk by 4.2% at group level.
VIG, 1H2019: strong growth; Group well on course to reach targets
Vienna Insurance Group (VIG) has reported a 6% y-o-y GWP increase, to EUR 5.4 billion for the first half of the year, while on the profitability side, pre-tax profits went up by 10.5%, to EUR 257 million, for a combined ratio of 96.4%, close to last year's level.
METLIFE, 2Q2019: net income doubled in the second quarter of 2019
MetLife reported a consolidated net income of USD 1.7 billion in the second quarter of 2019, a twofold increase compared to 2Q 2018 net income of USD 0.85 billion. For 2019 first six-month period, MetLife consolidated net income was USD 3.1 billion (+46% change y-o-y).
Anette REY joins SCOR as Head Of Group Communications
Anette REY joined SCOR as Head of Group Communications, reporting to the Group Chief Operating Officer, Romain LAUNAY. Based in Paris, she will be responsible for all facets of Group communications, both external and internal.
3 September 2019