News - Insurance
GEORGIA: IC Groups officially becomes part of Bulgarian EUROINS Insurance Group
As already stated in September by EUROINS Insurance Group (EIG), Georgian insurer IC Group has become a member of the Bulgaria based group. EIG owns over 51% of the Georgian insurer.
19 December 2018FSC allows KBC to merge its Bulgarian life insurance units
The Bulgarian Financial Supervisory Commission announced it has allowed DZI - Life Insurance's plan to absorb its wholly-owned unit UBB - Life Insurance. FSC did not provide further details in its statement.
19 December 2018AXA inaugurates global innovation center in the heart of Paris
On 18 December, in the 17th arrondissement of Paris, AXA has inaugurated "JAVA", its new global center dedicated to innovation, data and emerging technologies.
19 December 2018STATISTICS: MACEDONIA, 2008-2017 timeline: life insurance premiums quadrupled, reaching a 16% portfolio share
The Macedonian insurance market recorded a constant ascendant trend during the last decade, with GWP increasing between 2008 and 2017 by about 40%. Yet, as the life insurance sector gained more relevance in the recent years, its contribution to the market growth became more visible.
13 December 2018STATISTICS: POLAND, 2008-2017 timeline: motor lines took over the trendsetter role after 2015
As the XPRIMM 10 years GWP timeline for Poland shows, the local insurance market needed about 10 years to regain and exceed its pre-crisis level: GWP of EUR 14.95 billion in 2017 vs. EUR 14.2 billion in 2008.
13 December 2018SCOR Global Life announced new leadership for newly combined teams
SCOR Global Life, a division of the French based reinsurer, has announced the leadership structure for its newly combined Global Markets and Client Solutions teams.
13 December 2018AIG Life Limited (UK) announces the appointment of a new CEO
AIG Life Limited (UK) announced the appointment of Philip WILLCOCK - the former CEO of AVIVA's Indonesian and Italian ventures - as CEO, subject to regulatory approval, effective March 1, 2019. He will be based in London and will report to Adam WINSLOW, CEO, International, Life & Retirement.
13 December 2018GENERALI introduces signature per face ID - first insurer in Austria to use face recognition
GENERALI insurance introduces the innovative advancement of the mobile phone signature, being the first insurer in Austria to adopt this innovate and user-friendly way of signature or authentication.
13 December 2018Adriatic Slovenica's takeover by Generali greenlighted by the EC
The European Commission has greenlighted the takeover of insurer Adriatic Slovenia by Generali CEE, an affiliate of Italy's Generali Group, the world's third largest insurer, STA reports. According to the Commission, the deal does not affect the competition on the relevant markets.
13 December 2018RUSSIA: GWP growth on the property insurance line slowed down in the third quarter
According to the statistical data published by the Bank of Russia, GWP of property insurance for 3Q this year amounted to RUB 273.8 billion (+2.3% y-o-y), while paid claims reached RUB 107.3 billion (+1.5%). The share of paid claims in premiums remained the same as a year ago (39.2%).
13 December 2018POLAND: insurance brokers have mediated GWP of EUR 1.7 billion in 2017
The total number of insurance brokers licensed in Poland at the end of 2017 was of 1,416. Throughout the year, 34 deletions from the register of insurance brokers were made, a Polish Financial Supervision Authority's Report on the condition of the brokerage market in 2017 shows.
13 December 2018LITHUANIA: decreasing prices for all types of transport insurance
In 3Q2018, prices of compulsory MTPL insurance scaled down, while the entire insurance market grew by 13%. Having come into force in October, significant amendments have strengthened consumer protection within the insurance market, Bank of Lithuania stated in a press release.
13 December 2018Aegon: Hungarian homeowners fear most fire and burglary damages
Although pipe bursts and storms are the risks causing each about one
third of the housing insurance claims in Hungary, it seems people fear
most fire damage and burglary, the latest edition of the Aegonʼs Great
Home Test (Nagy Lakasteszt) shows.
13 December 2018AM Best affirms credit ratings of KOREAN Reinsurance Company
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Korean Reinsurance Company (KRE) (South Korea). The outlook of these Credit Ratings (ratings) is stable.
13 December 2018STATISTICS: GEORGIA, 3Q2018: paid claims for property insurance increased by 425%, amounting to as much as half of premiums written for this line
For 9 months this year Georgian insurers generated GEL 417.19 million of GWP (EUR 137.66 million), which in local currency is 20.67% more y-o-y. Paid claims for the same period increased by 26.71%, as the data published by the Insurance Supervisory Office of Georgia show.
12 December 2018STATISTICS: HUNGARY: Insurers' 3Q net profit was up to EUR 180 million
Hungarian insurers reported 3Q 2018 aggregate GWP up by 9.2% y-o-y to HUF 777 billion (EUR 2.4 billion), according to the market data published by the National Bank of Hungary (MNB).
12 December 2018KAZAKHSTAN: paid claims by the six biggest insurers account for over 57% of the market, 10 months statistics show
GWP as of the end of October amounted to KZT 317.7 billion (+1.9% y-o-y), according to Ranking.kz, as Allinsurance.kz informed. Paid claims throughout the same period increased by 9.9% y-o-y, to KZT 77.9 billion
12 December 2018KAZAKHSTAN: motor insurance accounts for over 30% of the market portfolio, while about a quarter of all vehicles in the country are not insured
Motor insurance lines in Kazakhstan (compulsory MTPL and Motor Hull conjunctively) account for over 30% in the market non-life portfolio, according to the 10 months results; at that about 24% of the registered vehicles are not insured, as Allinsurance.kz wrote.
12 December 2018UKRAINE: 21% increase in GWP both for MTPL and Green Card for January-October
MTPL GWP of Ukrainian insurers-members of MTIBU for 10 months this year went up by 21.4% y-o-y and reached UAH 3.7 billion, according to the data of MTIBU.
12 December 2018Sylva de FLUITER takes over as head of UNIQA Re AG
Sylva de FLUITER will take over as head of UNIQA Re AG in Zurich as of 1 January 2019, the Austrian group announced. Until year end she will work hand in hand with long-time Managing Director Hans Uwe MULLER, who will retire after 14 years at UNIQA Re.
12 December 2018
