From the beginning of the year, selected insurers have forfeited licenses on some insurance activities. SALEM's license for voluntary insurance was cancelled on August 28. Additionally, the license for general insurance of Kompetenz was suspended for 6 months, wrote allinsurance.kz.

On September 7 S&P Global Ratings affirmed long-term and short-term foreign and local currency sovereign ratings on Kazakhstan at 'BBB-/A-3' with a stable outlook. The agency also affirmed 'kzAAA' as a national scale rating for Kazakhstan.

A.M. Best will evaluate the impact that the merger transaction between the Kazakh Halyk-Kazakhinstrakh, Insurance Subsidiary Company of Halyk Bank of Kazakhstan, JSC (Kazakhinstrakh) and JSC IC Kazkommerts-Policy, on August 29, 2018, had on Kazakhinstrakh's Credit Rating.

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.

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.

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 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 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).

The mandatory MTPL insurance GWP amounted to KZT 31.6 billion* (+28.9%) in the first half of the year 2018, as reported by Total.kz with reference to ranking.kz. Total paid claims in the segment dropped by 2.4%.

Insurance company VICTORY on July 30, 2018 got an approval from the National Bank of Kazakhstan for voluntary reorganization due to the merge of NURPOLICY, as announced on the regulator's website.

On September 13, 2018, the Insurance Supervision Agency of Ljubljana organized its 4th conference on insurance. The subject of the event was Insurance in the Digital Future. Visit the event's web page  to see the conference materials and photo gallery.

The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.

Only 5% of cyber losses are insured, estimates Christian Fuhrmann, chief executive of global clients/North America, Munich Re. Very complex by nature and continuously changing, cyber insurance is one of the biggest challenges for insurers, he said.

AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions.

The latest editions of the XPRIMM Motor Insurance Report and Property Insurance Report will be launched in Monte Carlo, at the 62th edition of the "Rendez-Vous de Septembre," one of the most important international events dedicated to insurers, reinsurers, brokers, and reinsurance consultants.

Hannover Re expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019 and promising opportunities for next year arising from digitalization, increased demand for coverage of cyber risks, as well as from various openings in the Asian growth markets.

Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.

Catastrophe risk modeling firm AIR Worldwide released a new severe thunderstorm model for Europe. Together with AIR's Extratropical Cyclone Model for Europe and European flood models, this new model now allows for a comprehensive assessment of atmospheric risk in this region.