News - Insurance
SCOR announces the creation of SCOR Europe se, its new P&C specialty insurance company for its clients in the European Union
SCOR announced the creation of SCOR Europe SE, its new Paris-based P&C specialty insurance company, which has been approved by the French supervisory authority, the ACPR (Autorite de Controle Prudentiel et de Resolution).
GENERALI 2021 - the strategic lines of development of the Italian group unveiled today
The Italian group GENERALI has announced today its strategic lines of development until 2021, built on three strategic pillars which include initiatives that will each contribute towards delivery of the Group's financial targets: Profitable growth; Capital Management and Financial Optimization; Innovation and Digital Transformation.
Brexit: UK insurers are preparing for loss of passporting rights
The majority of A.M. Best rated insurance groups affected by Brexit have either completed or initiated a transfer of their EEA business from their UK insurer to an affiliated EEA insurer, a briefing published by the rating agency says.
UKRAINE: GWP of TAS from January to October went up by 38.5% y-o-y
TAS insurance group reported for the first 10 months of this year GWP worth UAH 1.14 billion (+ 38.5% y-o-y) and paid claims of UAH 436.83 million (+49.8% y-o-y), Forinsurer wrote.
UNIQA Group, 3Q2018: increasing GWP in both core markets and optimistic earnings outlook for 2018
In 3Q2018, UNIQA Insurance Group increased its recurring premiums written including the savings portion by 3.1%, while total group premiums remained stable at EUR 4,042.3 million. Earnings before taxes up 17.1% to EUR 212.4 million
UKRAINE: 93.5 thousand of e-MTPL sold since e-policy launch this year
MTIBU (Motor Transport Insurance Bureau of Ukraine) announced 93,519 e-MTPL policies were sold in Ukraine since the launch of e-policies (on February 7, 2018) until November 12. Total GWP volume under e-policies amounted to UAH 66.4 million.
RUSSIA: replacement in kind in MTPL is below 15-20%
According to the Deputy executive director of the Russian Association of Motor Insurers (RAMI), Sergey EFREMOV, as of now the share of replacement in kind in MTPL is below 15-20%.
SAVA Re Group, 3Q2018: 39.2% growth in net profit and 8.1% growth in revenue
In the first nine months of the year, the SAVA Re Group achieved high growth of 8.1% in its revenue of EUR 393.3 million. The income structure already reflects the benefits of the acquisitions finalized in 2018, which also include non-insurance activities.
Lloyd's COO to leave the organisation
Lloyd's of London announced that its Chief Operating Officer, Shirine KHOURY-HAQ, has decided to leave the Corporation, after nearly five years.
MARSH the formation of MARSH-JLT Specialty and its leadership
The global insurance broker MARSH announced the formation of MARSH-JLT Specialty - the new specialty business that combines the specialty teams of MARSH and JARDINE LLOYD THOMPSON Group (JLT) and will be headed by Dominic BURKE, currently CEO of JLT Group.
GENERALI launched GGP - the new global business unit dedicated to pensions
Italian financial group GENERALI has launched GENERALI Global Pension (GGP), a new business unit dedicated to pensions. GGP is headed by Anne de LANVERSIN.
GANZI to replace McCann as Chairman of the WTW Board from 1 January 2019
WILLIS TOWERS WATSON announced that Victor GANZI will replace James McCann as Chairman of the Board from 1 January 2019. McCann will continue to serve as a Director and as Chairman of the Nominating and Governance Committee, as the broker stated in a press release.
Brexit: TOKIO MARINE received the regulators approval to transfer the portfolio to Lux entity
TOKIO MARINE Group will transfer the existing portfolio of policies written out of Continental European operations to its newly established insurance company subsidiary, TOKIO MARINE Europe S.A. (TME), in preparation for the UK's exit from the European Union (EU).
PZU Group, 3Q2018: the highest quarterly profit for 5 years and record GWP
In Q3 2018 the PZU Group recorded the highest quarterly net profit in the last five years. At Group level, the net profit reached PLN 1.56 billion (EUR 366.75 million) in Q3 and increased by 34.6% y-o-y, to PLN 3.9 billion (EUR 916.9 million) for the first three quarters.
AXA XL's reinsurance operation acquires all interests in New Ocean Capital Management
AXA XL's Reinsurance operation announced that it has acquired all third-party ownership interests in its majority-owned asset management affiliate, New Ocean Capital Management Limited.
STATISTICS: Czech Rep., 3Q2018: risky drivers are providing for the MTPL premiums growth
According to the market results published by CAP - the professional association of the Czech insurers -, the local market saw a 5.55% y-o-y increase in GWP, to EUR 3.78 billion, most of which came from the non-life insurance segment.
KAZAKHSTAN: Standard & Poor's improved its financial rating on EURASIA to BBB-, outlook stable
On November 14 Standard & Poor's announced about improvement of the financial rating of the Kazakh leading insurer EURASIA to BBB-, outlook stable. The insurer has also improved the national rating to kzAAA.
Andrej SLAPAR reappointed the President of the Management Board of Zavarovalnica TRIGLAV for another five years term
The Supervisory Board of Zavarovalnica TRIGLAV reappointed the President of the Management Board of Zavarovalnica TRIGLAV Andrej SLAPAR for a new five-year term of office and approved the proposal submitted by the President of the Management Board, reappointing Uros IVANC and Tadej COROLI as Members of the Management Board.
TRIGLAV Group, 3Q2018: annual profit guidance confirmed following the positive trend recorded in the first nine months
In 3Q2018, the Slovene TRIGLAV Group posted a profit before tax of EUR 69.9 million, 8% more y-o-y, mostly thanks to the profitable underwriting. Considering the business conditions anticipated until the year end, the Group confirms its annual profit guidance.
RUSSIA: life insurance after 3 quarters went up by 36%, preliminary data show
According to the preliminary data for 9 months this year, provided by the All-Russian Insurance Association (ARIA), Russian life insurers generated GWP in the amount of RUB 342.6 billion (+36% y-o-y).
22 November 2018