News - Insurance
AXA, Q1 2019: Strong and disciplined growth in first three months
In the first quarter of 2019, AXA Group reached EUR 35 billion in total revenues, increasing by 3% compared to the first quarter of 2018. European market (including French market) brought more than half of total AXA revenues (55.7%).
Willis Towers Watson, Q1 2019: Strong earnings reported for the first quarter
For the first quarter of 2019, Willis Towers Watson revenue was USD 2.31 billion, showing an increase of 1% (5% increase constant currency and organic) as compared to USD 2.29 billion for the same period in the prior year.
STATISTICS: SLOVENIA, FY2018: market growth driven by UL, health and motor insurance lines
Slovenian insurers ended 2018 with GWP worth EUR 2.34 billion, 7.4% up y-o-y. Unlike in other CEE markets, the Unit-Linked life insurance line had a strong positive contribution to the market growth, which in absolute terms exceeded the motor insurance lines' aggregated input. Health insurance also recorded a significant increase in the GWP volume.
STATISTICS: GEORGIA, FY2018: GWP increased by almost 23%, while paid claims jumped by 21%
In 2018, Georgian insurers collected GWP in the amount of GEL 542.20 million (EUR 176.61 million), 22.84% more y-o-y, as data published by the State Insurance Supervision Service of Georgia show.
KOSOVO: CBK revokes the licence of INSIG
Central Bank of the Republic of Kosovo revokes the licens of the local unit of the Insurance Company INSIG, as the market authority informed on its website.
RUSSIA: first quarter net profit of ROSGOSSTRAKH exceeded RUB 1.3 billion
Net profit of ROSGOSSTRAKH for the first quarter, based on the Russian Accounting Standards, exceeded RUB 1.3 billion (~EUR 17.9 million), ASN reports.
AZERBAIJAN: recent restrictions on Ateshgah Insurance Company removed
The Financial Market Supervisory Authority of Azerbaijan (FIMSA) removed recent restrictions on the license of Ateshgah for compulsory civil liability insurance for vehicle owners and allowed the company to conclude such contracts, Trend News Agency reported on April 30.
CYPRUS: Health insurance GWP increased by 12.6% in 2018
Insurance Association of Cyprus (IAC) figures show an increase of EUR 17.8 million (+12.6%) in the local market Health insurance business line; the segment reached EUR 159.2 million in 2018.
TURKEY: MTPL prices determined by driver history
The Ministry of the Treasury and Finance of Turkey added a new amendment to current MTPL Tariffs Principles Regulation, according to which insurance companies can use drivers' history to determine the final MTPL price.
UKRAINE: net profit of AXA Insurance and AXA Life for the 1st quarter reached UAH 32 million
AXA Insurance and AXA Life, who are among the leaders of the Ukrainian market based on 2018 results, took in a net profit of UAH 32 million (~EUR 1.08 million) in the 1st quarter of 2019, based on IFRS, Forinsurer reports.
UKRAINE: InsuranceNEXT Conference - future insurance visualization to be held on June 13 in Kiev
The 3rd international conference InsuranceNEXT will be held on June 13, 2019 in Kiev and will be dedicated to the state of the country's insurance market -which is now at the formative stage for transformation into a new digital reality-, the impact of economic development and GDP on insurance penetration in risk management structure, the future of the insurance market and availability of insurance services for citizens and enterprises.
UZBEKISTAN: ASIA INSURANCE signing insurance contracts against cotton crop failure
ASIA INSURANCE began concluding insurance contracts against crop failure in the cotton-textile clusters of UZTEX group, the insurer announced.
Nick MOSS, ex Global and UK FD at JLT Re, appointed as BMS's CFO
BMS Group, the independent specialist (re)insurance broker, announced the appointment of Nick MOSS as CFO of the Group, reporting to CEO Nick COOK. MOSS will formally join the BMS Board following regulatory approval.
GENERALI's German life unit sale to VIRIDIUM, completed
GENERALI announced it completed the sale of 89.9% of the shares of GENERALI Leben to VIRIDIUM Gruppe, a leading specialist for the management of life insurance portfolios in Germany, also establishing an industrial partnership with VIRIDIUM, aimed at managing life insurance closed book portfolios.
VIG Re: 2018 annual report and solvency results
VIG Re recently published its 2018 Annual Report and 2018 Solvency Financial Condition Report. The figures show record results compared to previous years: an increased total GWP volume, increased profit before taxes and a reduced combined ratio.
Aon 2019 Global Risk Management Survey: risk readiness drops to lowest level in 12 years
Rapid changes in the global economy as well as emerging risks are forcing risk managers to become more innovative, as relying on "tried-and-true strategy for risk mitigation" is no longer possible, Aon's 2019 Global Risk Management Survey shows.
QIC Group Q1 net profit increased by 15%
Qatar Insurance Company (QIC), a leading insurer in Qatar and the Middle East North African (MENA) region reported a net profit of USD 75 million for the first quarter of 2019.
SLOVENIA: ERGO and ALLIANZ sign a Distribution and Service Framework agreement for the ERGO Non-Life unit
ERGO International AG announced that it has signed a Distribution and Service Framework Agreement with ALLIANZ for ERGO Slovenia, which belongs to ERGO Insurance Austria.
ZURICH: 2018 Financial Condition Report
Zurich Insurance Group (Zurich) has published its Financial Condition Report 2018, highlighting a good financial condition and exceeding solvency requirements.
SCOR's Q1 net profit decreased to EUR 131 million
French reinsurer SCOR annunced its Q1 Group net income amounted to EUR 131 million vs. EUR 166 million in Q1 2018.
3 May 2019