News - Insurance
IGI appoints its first Chief Technology Officer
International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.
15 November 2018PIU, Gjensidige Insurance and Swedbank nominated for the European Excellence Awards 2018
Among the nominees of the 2018 European Excellence Awards, the leading Award for European PR and communications, there are three entries belonging to the insurance world: the Polish Insurance Association, Swedbank and Gjensidige Insurance.
15 November 2018IASB to propose one-year deferral of insurance contracts Standard
The International Accounting Standards Board has voted to propose a one-year deferral of the effective date for IFRS 17, the new insurance contracts Standard, to 2022.
15 November 2018WTW expanded its presence in Kazakhstan
Global insurance broker Willis Towers Watson (WTW) expanded its presence in Kazakhstan - by opening a new entity to serve clients in "this key Central Asian growth market", as the company officials affirmed in a statement.
15 November 2018STATISTICS: UZBEKISTAN, 3Q2018: voluntary insurance is still the market driver (+117%)
For 3 quarters Uzbek insurers generated GWP in the amount of almost UZS 1.2 trillion. At that voluntary classes collected UZS 984.4 billion from the total GWP, according to the data of the Ministry of Finance of Uzbekistan.
15 November 2018UKRAINE: from January to September MTPL premiums went up by 20.6%
For the period from January to September 2018 MTPL premiums of MTIBU members in Ukraine went up by 20.6% y-o-y and amounted to UAH 3.3 billion, said Forinsurer.
15 November 2018KAZAKHSTAN: based on 3Q2018 results, total assets of the insurance sector went up by 6.8% y-o-y
For 3 quarters this year total assets of local insurers increased by KZT 62.8 billion (+6.8% y-o-y) and reached KZT 988.1 billion. However, growth rates slowed down (vs 8.6% a year ago), according to the data of the National Bank of Kazakhstan.
14 November 2018TALANX's 9 months profits increased despite the Q3 industrial lines losses
The German insurer TALANX said its nine-months EBIT improved by 33% to about EUR 1.5 billion (vs. EUR 1.1 billion at the end of September 2017), while the Group net income was up by 10% to EUR 488 million.
14 November 2018Lloyd's post-Brexit unit is established and operational
Lloyd's, the global insurance and reinsurance market, announced its post-Brexit unit - Lloyd's Brussels - is established and operational. "Lloyd's Brussels is Lloyd's first Europe wide operation and will bring Lloyd's expertise closer to its customers and partners in Europe".
14 November 2018In memoriam Jurgen GRAEBER, HANNOVER Re's long-serving Executive Board Member
HANNOVER Re's long-serving Executive Board Member Jurgen GRAEBER passed away suddenly and unexpectedly on 9 November 2018 at the age of 62. May he rest in peace.
14 November 2018HANNOVER Re confirms the profit guidance of more than EUR 1 billion for 2018
German reinsurer HANNOVER Re increased Group net income by 32.1% at 30 September 2018 to EUR 725.3 million (EUR 548.9 million) and confirms the profit guidance of more than EUR 1 billion for 2018.
14 November 2018Hurricane Michael may cost the US economy about USD 15 billion
According to the latest edition of the monthly Global Catastrophe Recap report published by Impact Forecasting, AON's catastrophe model development team, hurricane Michael is expected to leave USD 15 billion financial impact on US economy.
14 November 2018ALLIANZ' Q3 net profit increased by 23.6% to EUR 1.9 billion
German insurer ALLIANZ announced its total revenues increased by 7.9%, to EUR 30.5 billion in Q3 2018, while the operating profit grew by 20.6%, to EUR 3.0 billion. Overall, the net income attributable to shareholders was up by 23.6% to EUR 1.9 billion, "mainly driven by the increased operating profit".
14 November 2018Bulgaria: Protests, traffic jams and blockades against high fuel tariffs, car taxes and MTPL premium
Thousands of Bulgarians protested last weekend in over 20 cities by blocking major highways and roads against higher fuel prices, tax increases for older, more polluting cars and an expected increase in MTPL premiums.
14 November 2018BEAZLEY's CUO to join Lloyd's of London Board in February 2019
Lloyd's, the specialist insurance and reinsurance market announced that Neil MAIDMENT has been appointed as an independent non-executive of the Lloyd's Board with effect from February 2019.
14 November 2018ZURICH confirmed its 2017-2019 financial targets
ZURICH Insurance Group reported a 2% increase in its 3Q2018 property and casualty business and confirmed its financial targets, according to a statement posted on the insurer website.
14 November 2018Thierry DEREZ resigned from SCOR's Board of Directors
Thierry DEREZ, chief executive of COVEA, has resigned from the Board of SCOR, thus putting an end to a conflictual situation that lasted several months following the rejected EUR 8.2 million takeover bid placed by COVEA in September.
14 November 2018Cyber-risk, the number one concern in advanced economies
Unemployment, inability of governments to effectively manage countries and abrupt price changes in the energy sector are the main risks for business, executives from different regions of the world consider. In Europe, Asia-Pacific and North America cyber attacks were labeled as the main risk, the latest Regional Risks for Doing Business report shows.
13 November 2018KAZAKHSTAN: insurers request the revision of the tariffs in mandatory MTPL insurance
Kazakh insurers request the revision of the tariffs in mandatory MTPL insurance since they hadn't been revised during 10 years and no longer meet the existing market conditions, wrote allinsurance.kz.
8 November 2018KAZAKHSTAN: the market leader EURASIA is creating a new life insurer
The leader of the Kazakh insurance sector, EURASIA, is planning to create a new life insurer, according to the business information center Kapital.kz.
8 November 2018
