News - Insurance
UZBEKISTAN: Premium of GROSS INSURANCE went up by 144.3% y-o-y
Premiums of GROSS INSURANCE for the first half of 2018 exceeded UZS 78.5 billion*, which is 144.3% more than a year ago. Among 27 local insurers, GROSS INSURANCE ranks 3rd in terms of generated premiums, as data of the Ministry of Finance of Uzbekistan show.
5 September 2018AZERBAIJAN: Voluntary insurance premiums for January-July amounted to 73% of the market
For the first 7 months of the year insurers of Azerbaijan generated GWP in the amount of AZN 459.9 million (~EUR 230.87 million). Total market paid claims for the period reached AZN 145.9 million (~EUR 73.24 million), according to The Financial Markets Supervision Chamber of Azerbaijan.
5 September 2018STATISTICS: TURKEY, 1H2018: Insurance industry increased by one fifth to EUR 5.2 billion
The preliminary half-year market figures published by the local insurance association (TSB) shows the insurance sector in Turkey generated total premiums of TRY 27.87 billion (EUR 5.24 billion), an increase of 20.5% y-o-y. After considering inflation, real growth in the sector was 4.4%.
5 September 2018NN named Jacek KORONKIEWICZ as interim CEO of Nationale-Nederlanden Poland
The Dutch insurance group NN announced that as of 15 September, Jacek KORONKIEWICZ, currently CFO and COO of Nationale-Nederlanden Poland, heading the functions of Finance, Operations and Procurement, will act as interim CEO.
5 September 2018GROUPAMA's H1 net profit decreased by EUR 80 million to EUR 206 million
French insurer GROUPAMA posted an H1 Group premium income of EUR 9.5 billion, 3.6% more y-o-y, while net profit decreased to EUR 206 million, as compared with EUR 286 million at the end of June 2017.
5 September 2018TURKEY: BUPA to enter the local health insurance market through ACIBADEM Sigorta acquisition
BUPA, the international healthcare company, announced that it has agreed to acquire Turkey's second largest health insurer, ACIBADEM Sigorta, subject to regulatory approvals.
5 September 2018ALLIANZ names ex Russia's Sberbank CTO as CEO of its European direct business
ALLIANZ announced that it has named Bart SCHLATMANN as CEO of its European direct business. He will assume his new responsibilities starting September 1, 2018.
5 September 2018RUSSIA: Preliminary half year results of the National Association of Agriculture Insurers show livestock insurance went up by 47%
Preliminary data of the National Association of Agriculture Insurers (NAAI) for the first half of 2018 show that total number of livestock insurance contracts with state support increased from 97 to 143 (livestock enterprises), which according to Korney BIJDOV means growth ofby 47%.
4 September 2018VIG closes the acquisition of Baltic insurer SEESAM
Austrian insurer VIG said the acquisition of Baltic insurer SEESAM was successfully completed. The agreement on the full acquisition of non-life insurer SEESAM Insurance AS - part of the Finnish OP Finance Group - was signed on 18 December 2017 (Click here to read more).
4 September 2018Vienna Insurance Group's rating of A+ with a stable outlook confirmed
The international rating agency Standard & Poor's (S&P) reconfirmed the A+ rating with a stable outlook for Vienna Insurance Group (VIG) on 30 August 2018. VIG continues to be the best-rated company among the 20 companies considered by the ATX index.
4 September 2018SCOR rejects Covea's proposition to acquire a majority stake in the reinsurer's share capital and voting rights
The French reinsurer SCOR has rejected Covea's acquisition proposal, as not compatible with its strategy of independence and refused to initiate discussions with the bidder.
4 September 2018STATISTICS: LITHUANIA 1H: motor lines posted the largest GWP increases
Lithuanian insurers reported GWP of EUR 440 million in 1H 2018, 13.4% more y-o-y, according to the half-year figures published on the Central Bank's website.
30 August 2018STATISTICS: ESTONIA, 1H: Insurers reported impressive rates across all LoB
Estonian insurers reported H1 2018 GWP of EUR 243 million, almost 17% more compared with January-June 2017, according to the market figures published by the Estonian National Statistics Board.
30 August 2018PZU Group, 1H2018: consolidated net profit up 38.3% y-o-y
The Polish PZU Group ended 1H 2018 with GWP increasing by 2.4%, to PLN 11.8 billion (EUR 2.7 billion), while paid claims went up by 1.8%, to PLN 7.34 billion. The Group's consolidated net profit reached PLN 2,358 million, 38.3% up y-o-y.
30 August 2018STATISTICS: TAJIKISTAN, 1H 2018 result: voluntary insurance keeps 71% stake in GWP portfolio
In the first half year Tajik market generated TJS 93.63 million of GWP (EUR 8.79 million), TJS 20.65 million from that amount were ceded in reinsurance, based on the data, published by the National Bank of Tajikistan.
30 August 2018RUSSIA: first institute of pre-trial settlement to be established on the financial market
The Central Bank of Russia has appointed the first financial ombudsman for pre-trial settlement of financial disputes - Ilya VORONIN, the advisor to the Head of the Central Bank Elvira NABIULLINA, said the First Deputy Chairman of the Central Bank Sergey SHVETSOV.
30 August 2018RUSSIA: The Federal Tax Service will soon have the right to freeze accounts of entrepreneurs for not submitting tax calculations on insurance premiums
The Federal Tax Service (FTS) of Russia, will soon have the right to freeze the accounts of entrepreneurs who fail to submit tax calculations on insurance premiums. The new law comes into force on August 30, as stated by FTS.
30 August 2018RUSSIA: Credit health insurance for the first half of the year amounted to 19% of all life premiums
The GWP of credit health insurance in the first half of 2018 amounted to RUB 42 billion (~EUR 0.57 billion), which accounts for 19% of all life insurance premiums. Of that amount, about RUB 10 billion (~EUR 0.14 billion) were generated by accident and illness insurance, reported ASN portal.
30 August 2018KAZAKHSTAN: EURASIA will participate in the construction project of world's highest statue
India is developing a construction project for the highest statue in the world, the total cost of which is over USD 500 million. The leading insurer of Kazakhstan, EURASIA, will participate by insuring the project, announced allinsurance.kz portal.
30 August 2018KAZAKHSTAN: For the period of January to July insurer profit jumped by 45.8%
Income from insurance activity between January-July increased by 4.3% y-o-y and amounted to KZT 160 billion*. Although positive, the market dynamic recorded so far this year is less impressive than the last years' one (12.8%), the allinsurance.kz portal reads.
30 August 2018
