News - Insurance
STATISTICS: CZECH REP., FY2018: 4% market growth driven by the motor insurance lines
Czech insurers ended 2018 with a 4.1% y-o-y increase in GWP, to EUR 5.03 billion. Most of the market growth was owed to the higher growth rates seen on the motor insurance lines, data provided by CAP - the Czech Insurance Association show.
21 February 2019STATISTICS: ARMENIA, FY2018: insurers' total net profit down by 67.6% y-o-y due to fast increasing claims expenses
Armenian insurers' GWP reached AMD 41 billion (EUR 74 million) in 2018, according to data provided by ArmInfo. Denominated in local currency, the market's growth seems lower than in euro due to the Armenian dram appreciation (17.36% vs 22.97% in euro).
21 February 2019LATVIA: Tax reform slowed down life insurance in 2018
Insurance market premiums in 2018 increased by 11.3% overall compared to 2017. Life insurance as a whole remains the most important insurance group, but its recorded evolution shows near stagnation.
21 February 2019TURKEY: The number of registered vehicles increased 2.91% by the end of 2018
According to official statistics published by The Turkish Statistical Institute, at the end of 2018 there were 22,865,921 road motor vehicles registered in Turkish territory, an increase of 646,976 units (a +2.91% change) from 2017.
21 February 2019HUNGARY: Local insurers paid nearly HUF 40 billion for fire damage in the past 8 years
According to the Association of Hungarian Insurance Companies (MABISZ), between 2010 and 2017, Hungarian insurers paid aprox. HUF 40 billion for a total of 50,000 reported fire incidents. 2012 was the most severe year, with fires causing HUF 10 billion in damage.
21 February 2019LATVIA: 2018 MTPL results were positive for insurers
Data collected by the Latvian Motor Insurers' Bureau (LTAB) shows that the 9 MTPL insurers from Latvia earned EUR 3.61 million revenues from this business line. It is the first time in the past 10 years when Latvian MTPL insurers profited from this type of business line.
21 February 2019BULGARIA: Only 14.5% of homes covered by property insurance
While residential real estate in Bulgaria has expanded in recent years, the property insurance market remains underdeveloped, well below its true potential.
21 February 2019RUSSIA: total amount of earned reinsurance premiums of RNRC in 2018 is almost 3 times higher y-o-y
"The Russian National Reinsurance Company (RNRC) has announced its results for 2018. Under reinsurance contracts in 2018 RNRC received RUB 12.1 billion of GWP (+58% y-o-y). Total amount of earned premiums exceeded RUB 11 billion (almost 3 times higher y-o-y)", according to the company's official statement.
20 February 2019RUSSIA: MTPL average premium down by 7% in the regions generating about 90% of the segment's business
According to the Russian Association of Motor Insurers (RAMI), from January 1, 2019 to February 10, 2019 the average MTPL premium amount for cars dropped by 7% in 61 regions, generating in total almost 90% of all MTPL policies.
20 February 2019SCOR, FY2018: net income of EUR 322 million and 7% raise in GWP
The French re/insurance group SCOR has recorded GWP worth EUR 15,258 million in 2018, up 7.1% at constant exchange rates compared to 2017 (+3.2% at current exchange rates), a growth well balanced between the Life and P&C divisions and a "first" in its history.
20 February 2019Jean-Paul CONOSCENTE promoted to CEO of SCOR Global P&C and will join SCOR's executive committee
SCOR announced it has appointed Jean-Paul CONOSCENTE, currently CEO of Reinsurance at SCOR Global P&C, as Chief Executive Officer of SCOR Global P&C. Jean-Paul CONOSCENTE will also join the Group's Executive Committee. This appointment is effective April 1, 2019.
20 February 2019VIG expands in Poland by acquiring stake in insurance association "TUW"
Vienna Insurance Group (VIG) has purchased the entire stake of France's MACIF-Group in TUW "TUW" through InterRisk Group company. This operation will increase the VIG's share in Polish non-life market to 7%, getting VIG closer to its 10% market share medium term goal.
20 February 2019Supervisory Board Chair NN Group steps down
NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.
20 February 2019ALLIANZ reported highest net income in the last decade
German insurer ALLIANZ announced its FY2018 total revenues grew by 3.5% y-o-y, to EUR 130.6 billion, while the operating profit was up by 3.7% to EUR 11.5 billion "in the upper end of the Group's announced target range of EUR 10.6 billion to EUR 11.6 billion and the highest in our history".
20 February 2019BOSNIA and HERZEGOVINA: GWP of ASA Osiguranje in 2018 went up by more than 20%
ASA Osiguranje, one of the youngest insurance companies in Bosnia, which was established in 2007 and is part of the ASA Group, ended 2018 with positive results (~+20%), and, according to the General Director Feda MORANKIC, the same positive trend is expected in 2019.
20 February 2019AXA XL to cut over 700 jobs in Europe
AXA XL has presented the plan for its future target operating model and organizational structure of the business, which includes the reduction of 711 positions in Europe, out of a workforce of 9500 employees globally.
20 February 2019AXA has completed the sale of its Ukrainian units
The French insurer AXA Group announced it has successfully completed the deal with FAIRFAX Financial Holdings Limited (Canada) to sell its Ukrainian units - the non-life entity (AXA Insurance) and life entity (AXA Insurance Life) - both based in Kyiv, as the Paris-based insurer has said in a statement.
20 February 2019How can you set up a successful Bancassurance strategy?
Between 12 and 14 June, the "Bancassurance Asia Masterclass 2019 June" gathers together Managing Directors, Directors, Heads of Departments, Managers & Senior Executives activating in Bancassurance. The event is supported by XPRIMM Publications as Media Partner.
20 February 2019STATISTICS: BALTICS, 2008-2017 timeline: evolution of the regional consolidated results is in line with the CEE average
The Baltic countries - Estonia, Latvia and Lithuania -, have recorded between 2008-2017 a trend similar to the other CEE markets. The same main pattern can be distinguished, splitting the evolution of the market in three periods: decline (2008-2010), recovery (2010-2013) and growth (2013-2017).
14 February 2019KAZAKHSTAN: for January, 2019 vehicle owners issued over 300 thousand of e-policies amid the aging fleet of the country
In Kazakhstan from January 1, 2019 an electronic form of policies was introduced for all types of compulsory insurance (except for insurance of employees against accidents and crop insurance), as allinsurance.kz wrote.
14 February 2019
