News - Insurance
STATISTICS: CYPRUS, FY2018: Insurance market expanded by 7% y-o-y
The insurance market of Cyprus totaled about EUR 871.5 million at the end of 2018, up by 7% y-o-y, according to year-end market figures published by the Insurance Association of Cyprus, IAC.
4 April 2019STATISTICS: LATVIA, FY2018: Insurer profits decreased by one fifth
Last year, insurance companies in Latvia generated EUR 12.4 million in aggregate profit, down 22.6% from 2017, according to the data released by the Financial and Capital Market Commission, FKTK.
4 April 2019PZU's Management Board confirmed for a new term
The Supervisory Board of PZU SA appointed the Management Board of the company, including its president, Pawel SUROWKA, for a new term, which will last until December 31, 2022.
28 March 2019The Polish Insurance Association opens a representative office in Brussels
On March 1 this year the Polish Insurance Association (PIU) opened its representative office in Brussels. Its aim is to actively participate in legislative work on the European forum and to represent the interests of the Polish insurance market.
28 March 2019Interview: Jonathan LARSEN, Ping An's Chief Innovation Officer. Meet him at DIA Amsterdam 2019. XPRIMM readers get a discount!
Insurance pioneers from all continents connect and get inspired, between 25 and 27 June 2019, at DIA Amsterdam 2019. The event, supported by XPRIMM Publications as Media Partner, brings into debate the future of insurance.
28 March 2019Global fintech and innovation leaders meet in Istanbul
Fintech industry pioneers, practitioners, banks, insurers, asset managers, investors, entrepreneurs and enthusiasts from all around the world will gather in Istanbul, at the beginning of April, to participate at Istanbul Fintech Week.
28 March 2019STATISTICS: ROMANIA, FY2018: Health insurance rose by 74.3%
Romanian insurance market recorded in 2018 GWP worth EUR 2,174 million and EUR 1,278 million in paid claims. Total GWP volume rose by EUR 92 million compared to 2017 results (+4.44%) while claims level increased by EUR 185 million (+16.97%), mainly due to motor claims increases.
28 March 2019STATISTICS: UPDATE FY2018: CZECH market has passed the EUR 6 billion threshold
According to the most recent figures available on the CNB website (Czech National Bank) - the local insurance industry totaled about CZK 155.05 billion (~EUR 6.03 billion) at the end of 2018, up by 2.05% y-o-y.
28 March 2019STATISTICS: POLAND, FY2018: increased profitability despite a stagnating GWP level and increasing claims expenses
In 2018, Polish insurers paid almost PLN 42 billion (EUR 9.7 billion) to injured parties and clients. That's 4.7% more than a year earlier. On the other hand, GWP decreased vs. 2017, totaling some PLN 62.17 billion (~EUR 14.5 billion), representing a -3.29% reduction.
28 March 2019STATISTICS: ROMANIA, 2008-2017: Motor business lines drove market evolution
Between 2008-2017, in the Romanian insurance market, MTPL was the only insurance class that maintained a positive dynamic. MTPL, together with the Life insurance segment, had the biggest influence over general market evolution. The Romanian market is still recovering after the post-crisis effects.
28 March 2019CRO Hilary Weaver to leave LLOYD's after 16 years
LLOYD's of London announced that Hilary WEAVER, Chief Risk Officer, will leave LLOYD's at the end of March 2019 after 16 years.
28 March 2019European Commission approves acquisition of JLT by MMC
TheEuropean Commission announced it approved the acquisition of Jardine Lloyd Thompson Group plc by Marsh & McLennan Companies. "The approval is conditional on the divestment of JLT's global Aerospace practice", as the European Regulator stated.
28 March 2019COFACE to expand its expertise on the Greek credit insurance market
The global trade credit insurance COFACE announced the launch of its credit insurance offer in Greece, after being granted a license from the Greek regulatory authority to operate as credit insurer.
28 March 2019KAZAKHSTAN: FITCH affirmed Kazakhstan at 'BBB'
FITCH Ratings has affirmed Kazakhstan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB' with a stable outlook, the agency's report says.
28 March 2019UKRAINE: GWP of TAS went up by 38% y-o-y in January-February 2019
In January-February 2019, GWP of the TAS group increased by 38.2% y-o-y to UAH 262.87 million, as Forinsurer wrote.
28 March 2019KAZAKHSTAN: the share of TOP-5 in Mandatory Insurance of Civil Liability of Motor Vehicle Owners increased to almost 74% y-o-y
In January-February 2019 the share of TOP-5 in Mandatory Insurance of Civil Liability of Motor Vehicle Owners increased from 55.4% (a year before) to 73.9%, allinsurance.kz reported.
28 March 2019PZU starts using AI to handle motor insurance claims aiming for tenfold increase of process efficiency
PZU successfully completed a pilot project of using artificial intelligence (AI) in handling motor damage claims, the company announced in a press release. PZU is the first insurer in Poland to implement this unique technology on such a scale.
28 March 2019Burkhard KEESE confirmed as CFO of Lloyd's
Burkhard KEESE has been confirmed as the Chief Financial Officer (CFO) of Lloyd's following the unanimous approval of his appointment as successor to John PARRY by the Council of Lloyd's.
28 March 2019IGI, 2018 results: strong recovery after 2017 catastrophe losses
Dubai-based International General Insurance Holdings Limited (IGI) recorded USD 301.6 million in GWP, an increase of USD 26.3 million (+9.5%), at the end of 2018. Improvements were in the net result, as well as the combined operating ratio.
28 March 2019GREECE: Aegean Insurance to collaborate with Tieto to accelerate innovation in local insurance market
Greece-based Aegean Insurance will start using the Finland-based Tieto "Insurance-in-a-Box" platform to become a leading innovator in the Greek insurance market.
28 March 2019
