News - Insurance
STATISTICS: POLAND, 3Q2018: the decreasing popularity of the UL life insurance products pulled down the market
Polish insurers have collected premiums worth EUR 10.84 billion, which is about 1.2% more y-o-y, and paid claims totaling EUR 6.87 billion, most damages and liquidated damages being related to motor insurance.
20 December 2018STATISTICS: BULGARIA, 3Q2018: MTPL business shapes the market in growth and leadership terms
The Bulgarian insurance market saw a 13.5% GWP growth in 3Q2018, to EUR 953.36 million, while paid claims went up overall by only 3.75%, to EUR 407 million. Non-life insurance line, especially the MTPL class, were the market's growth drivers.
20 December 2018STATISTICS: CYPRUS 3Q: The insurance market has passed the threshold of EUR 650 million at the end of September
The nine months report on insurers' performance published by the Insurance Association of Cyprus (IAC), shows that at the end of September 2018 the local insurance market totaled EUR 651 million in premiums, up by 7.2% y-o-y.
20 December 2018Marsh Announces Future Leadership Appointments For Regional, Specialty and Placement Teams
New York, December 18, 2018 - Marsh has announced the appointments of key leaders for its regional, specialty, and placement teams worldwide, effective upon closing of the transaction between Marsh's parent company, Marsh & McLennan Companies, and JLT subject to the receipt of certain antitrust and regulatory approvals.
20 December 2018Fitch affirms Russian National Reinsurance Company's IFS at 'BBB-'; Positive Outlook
Fitch Ratings has affirmed Russian National Reinsurance Company's (RNRC) Insurer Financial Strength (IFS) rating at 'BBB-' with a Positive Outlook.
20 December 2018STATISTICS: TAJIKISTAN, 3Q2018: the market went up by more than 51% as compared to the first half year result
For 9 months of 2018 Tajik insurers generated GWP in the amount of TJS 141.97 million (EUR 13.32 million), TJS 34.01 million from which were ceded in reinsurance (in voluntary classes only), as the data of the National Bank of Tajikistan show.
19 December 2018STATISTICS: RUSSIA, 3Q2018: the growth of the market driver, life insurance, was over 40%
For 9 months this year Russian insurers generated GWP in the amount of RUB 1.093 trillion (+13.65% y-o-y). In European currency, due to significant depreciation of the local currency against euro, the market growth looks much more moderate - only 2.05%, according the Bank of Russia data.
19 December 2018STATISTICS: ROMANIA, 3Q2018: the almost 7% decrease on the MTPL line hardly offset by increasing business on othe non-life classes
Romanian insurers ended the first three quarters of 2018 with GWP worth EUR 1.6 billion, 0.7% up y-o-y, while paid claims have increased by 13.1%, to EUR 918 million. Given the national currency's depreciation against Euro, the results denominated in RON show a better dynamics.
19 December 2018UKRAINE: only 20% of insurers meet the new National financial services committee of Ukraine requirements for assets quality
According to the National financial services committee of Ukraine, as the moment only 20% of the local insurers fully meet obligatory requirements to capital adequacy and solvency, liquidity and profitability, asset quality and riskiness of insurers' operations.
19 December 2018GEORGIA: Bank of Georgia is creating its insurance company, while insurers demand to limit access of the banks to the insurance market
According to Devi KHECHINASHVILI, Chairman of the Board, Georgian Insurance Association, Bank of Georgia is creating its own insurance company. The new insurer already received a permission from the National Bank and is going to apply to the State Insurance Supervision Service.
19 December 2018RUSSIA: insurers with foreign participation in the ownership provided for 19% of the total market GWP in 3Q
According to the Bank of Russia data, for 9 months this year insurers with foreign participation generated GWP in the amount of RUB 206.4 billion, which is almost equal to 19% of the total market premiums for the period.
19 December 2018AZERBAIJAN: ASA announced the rating list of insurers for November
The Azeri Association of Insurers of (ASA) announced the results of the rating action considering insurance companies' level of service and customer attitude for November, according to the ASA official statement.
19 December 2018ZURICH proposes Jasmin STAIBLIN for election to the Board of Directors
ZURICH Insurance Group announced that the Board of Directors will nominate Jasmin STAIBLIN for a position on the Group's Board.
19 December 2018Natural disasters would have only a minimal impact on VIG's activity
Austrian insurer VIENNA Insurance Group shows strong resilience in the latest EIOPA stress test, in all three quantitative test scenarios, VIG achieving results of between 158% and 215% including the volatility adjustment - well above the required minimum solvency ratio of 100%, the company announced in a statement.
19 December 2018Alexander BOCKELMANN leaves UNIQA
Alexander BOCKELMANN, Chief Digital Officer and Management Board member of UNIQA Osterreich Versicherungen AG and UNIQA International AG, will be leaving the company at his own request at the end of January 2019.
19 December 2018With global insured losses of USD 79 billion, 2018 is the fourth costliest year on sigma records, according preliminary estimates
According to preliminary sigma estimates, total economic losses from natural and man-made catastrophes in 2018 declined to USD 155 billion from USD 350 billion in 2017. Global insured losses are estimated to be around USD 79 billion, higher than the annual average of the previous 10 years.
19 December 2018Swiss Re appoints Mark Hodges as new CEO of ReAssure
As part of the preparation towards a potential initial public offering (IPO) of ReAssure, Swiss Re announces Mark HODGES, currently Chief Executive Officer of Centrica Consumer division, as new CEO of ReAssure from 1 March 2019.
19 December 2018RNRC, Russian state reinsurer signs brokerage deal with Aon Plc subsidiary
The Russian National Reinsurance Company (RNRC) has signed a one-year agreement with a local unit of London-based insurance broker Aon Plc that will allow RNRC to reinsure risks for up to RUB 10 billion (EUR 149 million), Reuters reports.
19 December 2018S&P: Russia-Based Insurers SOGAZ And VTB Insurance 'BBB-' Ratings Placed On CreditWatch Developing As Merger Progresses
S&P Global Ratings today placed its 'BBB-' long-term issuer credit and financial strength ratings on Russia-based insurers OJSC SOGAZ and VTB Insurance on CreditWatch with developing implications.
19 December 2018Nigel FRUDD will take over as CEO of Sompo International, replacing John CHARMAN
Sompo International Holdings Ltd. (Sompo International), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Nigel FRUDD will become CEO of Sompo International, effective January 1, 2019, subject to applicable regulatory approvals.
19 December 2018
