The Cypriot Auditor General Odysseas MICHAELIDES claimed that his office had spotted Olympic's insolvency issues during a 2014 audit. Yet, the situation broke out only four years later, when the company went bankrupt leaving some 200,000 clients uninsured.

Vienna Insurance Group recorded a 3.6% y-o-y GWP growth, to EUR 5.2 billion in 1H2018, while the result (before taxes) went up by +5.5%, to around EUR 233 million, in spite of impairment in Romania.

Following the success of its pioneering Automotive Innovation Center, launched in 2014, ALLIANZ Partners further embraces technological disruption and redefines insurance by establishing three new innovation centers focusing on travel, health and assistance.

According to the Insurance State Supervision Service of Georgia total number of insured moto vehicles in the country as of the end of the second quarter 2018 amounted to 5.9%, while last year their average number was 5.2%.

EUROPA Re has announced Eugene GURENKO was elected as third member of its Board of Directors. Hansjurg APPENZELLER and Anselm SMOLKA, members of the Board of Directors since 2009 and 2016 respectively, were re-elected for a new term.

HLI delivers individual health assessments by combining state-of-the-art DNA sequencing and expert analysis with machine learning. The company generates a personal health risk profile, combining insights from various tests, including full genome sequencing, full body MRI, blood samples, EKG, etc., with an overlay of tests correlated to genetic predisposition to assess "actual" risk.

Premiums of local insurers in voluntary property insurance went down y-o-y by 2%, at that paid claims of the class jumped almost 3 times higher, according to the data of the analytical service Ranking.kz.

For 7 months this year TAS Insurance Group generated UAH 749.62 million of premiums* (+38.8% y-o-y), as informed Forinsurer portal.

For 7 months this year Motor Hull premiums of local insurers went up by 22.3% y-o-y, to KZT 11.3 billion*, according to the National Bank of Kazakhstan. Paid claims of the class slightly decreased by 4% to KZT 3.3 billion.

A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Polskie Towarzystwo Reasekuracji S.A. (POLISH Re) (Poland). The outlook of these Credit Ratings (ratings) remains stable.

Ralitsa AGAIN-GURI, deputy head of the Bulgarian Financial Supervision Commission (FSC) resigned in the wake of the Olympic insurance company bankruptcy scandal. Vladimir SAVOV, a FSC member, will temporary take over her tasks until a new appointment will be approved by the Parliament.

Greek insurers will pay over EUR 33.7 million in compensation for the devastating fires that hit Attica on 23 July 2018, according to the first estimate of the Hellenic Insurance Companies Association (EAEE).

According to several estimates, the re/insurance bill for the recent Genoa, Italy Morandi motorway bridge collapse may reach as much as EUR 600 million, with business interruption expected to be a large contributor to the industry loss, reports Artemis.

According to data provided by the Czech Insurance Association (CAP), its members ended 1H2018 with GWP worth EUR 2.53 billion, 5.16% up y-o-y, an increase almost fully driven by the non-life segment, in particular by the motor insurance lines.

Kosovo insurers posted an aggregate net profit of EUR 0.8 million in1H 2018, down from EUR 2.1 million a year earlier, according to the Financial System Monthly Report published by the local Central Bank.

Montenegro insurers reported GWP of EUR 41.27 million in 1H2018, up by 3.2% y-o-y. Paid claims increased at a higher pace, of 10.9%, reaching a total of EUR 17.6 million. The MTPL insurance line was the main driver in both cases.

As part of a Governmental plan to support organic farming, Estonian farmers involved in this segment will benefit starting 2019 from a 70% contribution of the State to the premiums paid by farmers in crop insurance, livestock and plant insurance, if the Ministry of Rural Affairs proposal will be approved.

A.M. Best has placed under review with developing implications the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of Kazakhstan, JSC (Halyk-Life) (Kazakhstan).

Austrian insurer VIG announced that the Supervisory Board of its Slovakian subsidiary KOMUNALNA appointed Slavka MIKLOSOVA as General Manager.

XL Catlin has appointed Chris KOPSER to lead its Global Risk Management Insurance North America Division.