News - Insurance
The distribution partnership between ALLIANZ and UniCredit comes alive in Bulgaria
Allianz Bulgaria has officially started its distribution agreement with UniCredit Bulbank. Thus, since the beginning of October the life and property insurance products of Allianz will be available at the UniCredit Bulbank's counters across Bulgaria.
17 October 2018ROMANIA: Watford Insurance, officially the newest player in local insurance market
WATFORD Insurance Company Europe (WATFORD Insurance) officially launched itself in the Romanian insurance market through an event organized on 17 October in Bucharest, with the participation of its partners and collaborators.
17 October 2018Hannover Re's fifth cat bond transaction raises total issuance for clients to USD 1.5 billion in 2018
Hannover Re has completed the fifth catastrophe bond transaction for clients this year, raising the total issuance volume to USD 1.5 billion in 2018. For the year end, the reinsurer expects the ILS market to reach a total volume of close to USD 100 billion.
17 October 2018RUSSIA: VTB and SOGAZ merger to be complete in October
According to the Head of VTB, Andrey KOSTIN, the merger of insurance businesses VTB and SOGAZ may be completed in October this year. As KOSTIN said, the parties already agreed on all issues in the merger.
17 October 2018RUSSIA: based on 1H2018 results, average Motor Hull policy cost fell to the lowest level in 6 years
According to the first half year result, the average Motor Hull policy in Russia fell to the lowest cost in the past 6 years, meaning RUB 34,800, reported RBK.
17 October 2018RUSSIA: The State Duma Committee recommended cancelling prohibition on reinsurance of MTPL risks
The State Duma Committee on Financial Market recommended a bill to cancel the prohibition on reinsurance of MTPL risks, as well as to include information about MTPL reinsurance contracts in the data transferred by insurers to the automated data system, reported ASN portal.
17 October 2018RUSSIA: S&P raised ROSGOSSTRAKH's rating to B+ with a stable outlook
The rating agency S&P improved ROSGOSSTRAKH's long-term credit rating in local currency from B to B+, the forecast was also changed from positive to stable, stated ASN portal.
17 October 2018Adrian MARIN, UNSAR: Financial education allows consumers to choose the insurance products that best cover their needs
"Romanian insurers paid claims totaling 30.5 million RON in the first 6 months of 2018 in the household insurance segment", explained Adrian MARIN, President, UNSAR, during ICAR - The International Catastrophic Risks Forum.
11 October 2018Insurance markets of the Western Balkans in the limelight November 15 at ICIR in Frankfurt
There is just one month to go until the event hosted by The International Center for Insurance Regulation (ICIR), dedicated to the latest market and regulatory developments for the insurance markets of the Western Balkans.
11 October 2018Public insurers appoint Achim Bosch to reinsurer board
The supervisory bodies of Deutsche Ruckversicherung AG and the Association of German Public Insurers decided today, to appoint Achim Bosch (53) to the executive board of the two reinsurers, where he will be responsible for non-life reinsurance.
11 October 2018Croatian Insurance Days 2018 - Registration opened online
The 2018 edition of the "Croatian Insurance Days" will be held in Opatija, Croatia, on November 7-9, 2018. Organized by the Croatian Insurance Bureau, with the support of the Croatian Ministry of Finance, the conference will have, as usual, a rich and very informative program, also providing for extended networking opportunities.
11 October 2018Sergio SCHENA from GENERALI Italia voted as Group's best agent
The second GENERALI Global Agent Excellence Contest took place in Sorrento to elect the best agent within the GENERALI Group. During the Grand Finale Sergio SCHENA, from GENERALI Italia, was voted as Group's best agent.
11 October 2018STATISTICS: CYPRUS, 1H2018: Local insurance industry increased in almost all LoBs
During the first half of the current year, the local insurance industry increased in almost all business classes, with total GWP being up by almost 8% to EUR 458 million, according to half-year market figures published on the IAC website - the local professional association.
11 October 2018STATISTICS: RUSSIA, 1H2018: Market growth speeds up to 13.3% y-o-y
Total GWP by the Russian insurers in 1H2018 amounted to RUB 731.78 billion (~EUR 10 billion; +13.28% y-o-y in local currency vs. 9.5% a year ago), according to the Central Bank of Russia.
11 October 2018STATISTICS: LATVIA, 1H2018: aggregate profit of EUR 7.23 million, about EUR 2 million less y-o-y
The Latvian insurance market totaled EUR 386 million at the end of June 2018, with an 18% increase y-o-y. At the same time, insurance companies paid EUR 200 million in claims (12% more y-o-y).
11 October 2018STATISTICS: ROMANIA, 1H2018: flat growth in total GWP, mostly due to the decrease in the MTPL business
Romanian insurers ended 1H2018 with GWP worth RON 5.04 billion (EUR 1.08 billion), a business volume which in fact demonstrates a quasi-stagnant phase. Gross paid claims amounted to RON 2.08 billion (EUR 602.6 million). Out of the 30 active players, Top 10 insurers accounted for about 88% of the market GWP.
11 October 2018GENERALI launches its fully-dedicated cyber insurance function and the CyberSecurTech start-up
Italian group GENERALI launches a new Cyber Insurance function and a fully-owned technology start-up, GENERALICyberSecurTech to address customer concerns and needs in the area of cyber risk.
11 October 2018Aon: Natural catastrophes cost global economy 'tens of billions' in September, highlighting the prevalence of global under-insurance
Aon's Impact Forecasting team launched the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of natural disaster events that occurred worldwide during September 2018.
11 October 2018CROATIA osiguranje announced changes in its Management Board
CROATIA osiguranje Group (CO Group) - one of the largest insurers in the Adriatic region announced this summer on the Zagreb Stock Exchange website changes in its Management Board.
11 October 2018WTW appointed Pamela THOMSON-HALL as Head of CEEMEA
Willis Towers Watson - WTW - announced the appointment of Pamela THOMSON-HALL as the Head of the Central and Eastern Europe, Middle East, and Africa (CEEMEA) region.
11 October 2018
