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Insurance - archive

RENOMIA's European Conference dedicated to its partners gathers brokerage companies from 28 countries

Between the 26th and the 28th of March, Prague hosted the first European conference organized by RENOMIA for its partner companies. The event celebrated the launch of the largest network of independent brokers activating in CEE and CIS - REP. More

VIG preliminary results for 2016 show business stability and improved profitability; over 100% y-o-y increase in profit before taxes

Vienna Insurance Group (VIG) expects all-around positive results based on the preliminary figures for 2016. "We have achieved all our major targets for 2016. This sends a clear signal of the stability we feel is important to be a reliable partner in times of dynamic change," emphasised today Elisabeth STADLER, CEO of Vienna Insurance Group at a press conference in Vienna. More

STATISTICS: HUNGARY, FY2016: the MTPL tariffs increase sustained the market GWP volume evolution

Hungarian insurance market ended 2016 with GWP of HUF 886 billion (EUR 2.85 billion), about 6% up y-o-y, benefitting especially from the positive effect exerted by the MTPL premium increase on the underwriting volume. More

STATISTICS: Poland FY2016: life insurance falling GWP offset by the MTPL premiums' increase

Polish insurers' business remained stable in 2016, with total GWP of PLN 56.04 billion (EUR 12.7 billion), 2.25% up y-o-y in local currency, but slightly decreasing (-1.5%) when denominated in European currency. Life insurance continued to witness a falling trend, especially on the UL products line, which saw a 23% reduction in premiums. More

Giulio TERZARIOL appointed to ALLIANZ SE Supervisory Board

Giulio TERZARIOL (45) has been appointed to the ALLIANZ SE Board of Management as of January 1, 2018. He takes over responsibility for the Finance, Controlling and Risk Management division. He is succeeding Dieter WEMMER (60), whose contract ends at the end of 2017 upon reaching the Board's designated age limit. More

Niran PEIRIS appointed to the ALLIANZ SE Board of Management; Christof Mascher's contract extended until 2020

Niran PEIRIS (55) is appointed to the Board of Management of ALLIANZ SE as of January 1, 2018 until December 31, 2020. Niran PEIRIS has been with ALLIANZ for 16 years in various management positions at ALLIANZ Australia, where he has served as the Chief Executive Officer since the beginning of 2013. He will take over responsibility for the Global Insurance Lines, Anglo Markets, Russia, ESG from Axel THEIS (58). More

James TUPLIN appointed as Head of Cyber & Technology, Media and Telecoms, International at XL Catlin

XL Catlin's insurance operations today announced the appointment of James TUPLIN as Head of Cyber & Technology, Media and Telecoms, International. In this role, Mr. TUPLIN is responsible for the underwriting of Cyber insurance, as well as Professional Indemnity insurance for the Technology and Media sectors. He is based in London. More

Inclusive insurance and Microinsurance for the CEE and Transcaucasian regions - under discussion in Ljubljana

Inclusive insurance and Microinsurance, as a more specific tool for enabling the inclusion into insurance services of low-income population, play a major role in providing financial safety-net for large parts of population and thus providing a framework for prosperity and stability of their daily lives and businesses. This is concept that underlies the "Inclusive Insurance and Microinsurance" Conference, to take place in Ljubljana, on May 17, 2017. More

Austria, FY2016: Life insurance remains on a downward trend, affecting the overall market size

According to the Austrian Insurers Association - VVO, the preliminary figures for 2016 show an overall drop in the premium income of 2.1%, to EUR 17 billion, the main driver of the downward trend being the life insurance segment. The total insurance benefits for the year 2016 amounted to 14.8 billion euros - a drop of 3.9% y-o-y. More

RNRC has launched a website in the Chinese language

Russian National Reinsurance Company is the first Russian reinsurer, whose Internet site became available in the Chinese language, which is the key language of South-East Asia. The Chinese language is the official language of China, Taiwan and Singapore, it is spoken worldwide by over 1.3 billion people. More

Hannover Re acquires Lloyd's syndicate ARGENTA

HANNOVER Re has reached an agreement to acquire the UK holding company ARGENTA Holdings plc ("Argenta"), which owns the companies ARGENTA Syndicate Management and ARGENTA Private Capital, as well as a pro rata share of the Lloyd's syndicate ARGENTA Syndicate 2121. The parties have agreed to maintain confidentiality regarding the purchase price. More

SAVA Re announced the early repaiment of its subordinated debt

SAVA Re has announced today the repaiment of the first transche of EUR 12 million of the subordinated debt contracted in 2006 and 2007, to finance the Group's expansion the markets of the former Yugoslavia and to improve its capital adequacy position in accordance with the then applicable insurance laws and the Standard & Poor's model. More

M&A deals expected to remain a widely used tool by insurers in search of growth

The number of completed M&A in the global insurance industry fell to 387 in 2016, 13% down from the 444 transactions recorded in 2015, said Clyde & Co's in a recent report*. KPMG International describes the trend as a come back to normal, after the blowout performance of 2015**. More

GROUPAMA net profit down by 12% in 2016

French insurer GROUPAMA reported a EUR 46 million decrease in its 2016 net profit, to EUR 322 million (EUR 368 million in 2015), a EUR 10 million decrease in its economic operating income (to EUR 153 million), a non-life combined ratio of 100.3% (vs. 99.2% as at 31 December 2015) and stable premium income of EUR 13.57 billion (+0.1% y-o-y). More

Combating the insurance fraud - under scrutiny in Moscow with the Russian market's experts

On March 28th will take place in Moscow the International Roundtable Meeting "Boundary-2017. Methods and instruments to combat unlawful developments in insurance", organized by ARIA - the All-Russian Insurance Association. More

A dozen European start-ups will be defending their projects during Pitch Day

12 start-ups from a variety of countries have already confirmed that they will be presenting their projects at the InsurtechNow Pitch Day, taking place on June 2 in Madrid, Spain. More

STATISTICS: Russia FY2016: Strong growth in GWP supported by traditional lines of business

The Russian insurance market grew by 15.3% in GWP terms, in 2016, supported by traditional lines of business development. Life insurance and bancassurance distribution, as well as liability insurance for damage to third parties, property insurance, personal insurance and insurance of financial risks recorded the best resuls. At the same time a significant drop was seen in insurance of hazardous production objects due to decrease of tariffs. More

STATISTICS: UPDATE: Greece, FY2016: 4.6% y-o-y increase in the overall premium income

According to a recent press release of the Hellenic Association of Insurance Companies (HAIC), the Greek insurance market saw a 4.6% y-o-y increase in the overall premium income in 2016, to EUR 3.78 billion. The result takes into consideration the 56 insurance undertakings HAIC members, representing approximately 97.1% of total premium income. More

Swiss Re's business and EVM reports for 2016 published, shoeing a solid performance

Swiss Re's 2016 Annual Report - "For a resilient future" -, consisting of the Business Report and the Financial Report, including audited financial statements for 2016 was published, showing a continued solid underwriting performance and profitability. More

German residential insurers' business result positive for the first time in 15 years

For the first time since 2001, in 2016 there has been a slight gain in residential property insurance in Germany, says a recent statement of GDV - the German Insurers' Association. The company's combined ratio last year was 97% (previous year: 101.4%), according to current industry figures. GWP for residential insurance amounted to EUR 6.8 billion while paid benefits were worth EUR 4.7 billion. More

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Member of the Board, Responsible for Europe
ERGO International AG

We have no interest to be number 1 in Romania in a mid-term, neither on life nor non-life sectors, and that's not our target. I want us to be a profitable company and the best choice for brokers. That's our target: to be the best in class. 
(2017-02-02) More

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