News - Insurance
UZBEKISTAN: new insurance company licensed: Perfect Insurance
The Uzbek Ministry of Finance has issued a license to a new insurance company, Perfect Insurance, UzReport news reported on August 12, with reference to the Ministry.
19 August 2019UZBEKISTAN: new Presidential Decree provides for e-policies and increasing insurer minimum charter capital
In Uzbekistan, a new Presidential Decree "On measures to reform and ensure accelerated development of the insurance market of the Republic of Uzbekistan" was adopted on August 2. It involves several changes on the local market, UzReport news reported.
19 August 2019KAZAKHSTAN: from January to June, insurer profit decreased 20% y-o-y; asset growth exceeded 12%
In the first half of 2019, local insurer assets grew by 12.8% y-o-y, to KZT 1.1 trillion (~EUR 2.54 billion). However, in the background, profit dropped by 20% to KZT 35.5 billion (~EUR 81.97 million), Allinsurance.kz reports.
19 August 2019BULGARIA: The Guarantee Fund publishes draft determining pecuniary and non-pecuniary damage for injured
On August 9th, 2019, the Bulgarian Guarantee Fund published a draft of guidelines for determining compensation for property and bodily damage of injured people, introducing new elements to current law and clarifying aspects of the amount of compensation.
19 August 2019Fitch upgrades Russian National Reinsurance Company following sovereign upgrade
Fitch Ratings has upgraded Russian National Reinsurance Company's (RNRC) Insurer Financial Strength (IFS) rating to 'BBB' from 'BBB-'. The Outlook is Stable.
14 August 2019ADRIATIC Osiguranje: green light for starting business in Italy
ADRIATIC Osiguranje dd (ex. JADRANSKO osiguranje) has obtained the official approval of IVASS - Insurance Supervisory Authority of the Republic of Italy (Istituto per la Vigilanza sulle Assicurazioni) to start business in the Republic of Italy.
13 August 2019EUROHOLD, 1H2019: 31% increase in group's total revenue
Bulgaria based EUROHOLD reported an increase of 31% year-on-year of the Group's operating income for the period between January 1st- June 30th, 2019. The total revenue of EUROHOLD amounted to EUR 402 million.
13 August 2019VIG Re, 1H2019: GWP amounted EUR 273 million, 15.2% more than previous year level
VIG RE zajis'ovna a.s. (VIG Re), the branch of Vienna Insurance Group specialized in reinsurance solutions, registered a total of EUR 273 million in terms of gross written premiums at the end of June 30th, 2019, which represents an increase of 15.2% year-on-year.
13 August 2019TALANX, 1H2019: 9.4% increase in net income
Germany based Talanx Group reported a net income of EUR 477 million at the end of first half-year of 2019, 9.4% higher than the net income. The growth was driven mainly by Retail Germany, Retail International and Life & Health Reinsurance segments.
13 August 2019Partner Re, 1H2019: total GWP volume rose by 15.6%
Partner Re reported a net income of USD 805 million for the first half of 2019, a significant increase compared to first half of 2018 (USD 28 million). Net income available to common shareholder was USD 782 million (1H2018: USD 5 million).
12 August 2019AXA, 1H2019: gross revenues amounted EUR 58 billion, up 8.1% y-o-y
AXA consolidated gross revenues amounted to EUR 57,949 million at the end of 30 June 2019, up by 8.1% y-o-y on a reported basis and up by 4.0% y-o-y on a comparable basis, compared to 30 June 2018.
12 August 2019Lard FRIESE joins AEGON as the new CEO
Aegon announced that its Supervisory Board intends to propose the appointment of Lard FRIESE as Chief Executive Officer to the Annual General Meeting of Shareholders. He will join the company as CEO-designate effective March 1, 2020.
12 August 2019David KNIBBE appointed as CEO of NN Group
NN Group announced that David KNIBBE, currently CEO of NN Netherlands, will succeed Lard FRIESE who has stepped down as member and chair of the Executive Board and CEO of NN Group as of today, 12 August 2019, to join AEGON.
12 August 2019ICAR 2019: Climate change is here. Where to the insurance industry?
If the 2010 floods, one of the most destructive events that affected Poland in 2010, had taken place in 2018, it would have cost EUR 3.8 billion, which in local currency means by 20.9% more than in 2010.
8 August 2019Hannover Re, 1H2019: net income rose by 19.3%
Hannover Re reported EUR 663 million net income for the first half-year of 2019, which represents an increase of 19.3% compared to the same period of prior year net income.
8 August 2019Aon, 2Q2019: total revenue increased 2% to USD 2.6 billion
Total revenue of Aon plc (NYSE: AON) in the second quarter increased 2% to USD 2.6 billion compared to the prior year period, driven by 6% organic revenue growth, partially offset by unfavorable impact from foreign currency translation and divestitures, net of acquisitions.
8 August 2019MMC, 1H2019: operating income maintained solid, reaching USD 1.6 billion
Marsh & McLennan Companies, Inc. (NYSE: MMC) consolidated revenue was USD 4.3 billion, an increase of 16% compared with the second quarter of 2018. Underlying revenue grew 4% compared to a year ago.
8 August 2019GEORGIA: adoption of the law on MTPL postponed
The discussion of the MTPL bill, based on which the mandatory motor third party insurance system was supposed to be introduced from July 1, 2019, was postponed for September, as Business Georgia reports.
8 August 2019UKRAINE: net profit of ARX and ARX Life increased by 58% y-o-y in 1H
In the first half year of 2019, ARX and ARX Life (former AXA Insurance and AXA Life) recorded a total net profit of almost UAH 80 million (+58% y-o-y/~EUR 2.68 million), Forinsurer reports.
8 August 2019STATISTICS: ARMENIA: in January-June total net profit of insurers increased by 71% y-o-y
In the first half of 2019 Armenian insurers have recorded a consolidated net profit by 71% higher as compared with the similar period of 2018, amounting to AMD 757.8 million (~USD 1.6 million), ArmInfo reports.
8 August 2019
