On November 14 Standard & Poor's announced about improvement of the financial rating of the Kazakh leading insurer EURASIA to BBB-, outlook stable. The insurer has also improved the national rating to kzAAA.

For 3 quarters this year total assets of local insurers increased by KZT 62.8 billion (+6.8% y-o-y) and reached KZT 988.1 billion. However, growth rates slowed down (vs 8.6% a year ago), according to the data of the National Bank of Kazakhstan.

Kazakh insurers request the revision of the tariffs in mandatory MTPL insurance since they hadn't been revised during 10 years and no longer meet the existing market conditions, wrote allinsurance.kz.

The leader of the Kazakh insurance sector, EURASIA, is planning to create a new life insurer, according to the business information center Kapital.kz.

Based on the result after 3 quarters the insurance sector demonstrated a decrease of GWP by 0.8%. At that operating income, as of the beginning of October, went up by 1% and investment income - by 30%, informed abctv.kz.

Part of the provisions of the new law "On amendment to some legal acts of the Republic of Kazakhstan on insurance and insurance activities, securities market", that was adopted on July 2, 2018, will come into force on January 1, 2019, including introduction of online insurance.

For the first 8 months of this year, total market GWP amounted to KZT 263.5 billion/~EUR 0.62 billion (- 1.2% y-o-y). Paid claims exceeded KZT 61.9 billion (~EUR 0.14 billion), with a y-o-y increase of 5.6%, reported allinsurance.kz.

For 8 months of this year, investments in the financial and insurance sector amounted to KZT 37.1 billion (-11.5% y-o-y). The largest part, almost 100%, of those investments were provided by owners' equity and retained earnings of the businesses, as Finprom.kz reported.

The leader of the Kazakh insurance market, EURASIA, will participate in insurance of the new Istanbul airport, which will become the biggest airport in the world.

In Kazakhstan in the first 7 months of this year, the total number of paid claims amounted to 385.7 thousand, which is, according to ranking.kz, 2.1 times more y-o-y. The total number of reported claims decreased y-o-y to 117.5 thousand (-9.3%).

The most important annual meeting of the Croatian insurers, the "Croatian Insurance Days", took place in Opatija, Croatia, on 7 - 9 November.

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

Becoming a growing threat globally, cyber risks is both a challenge and an opportunity for the insurance industry. MUNICH Re's representatives talked to XPRIMM TV in Baden Baden, about the different approach to this type of risk that the Group, as one of the most active players on the cyber market solutions, proposes.

End investors, Insurance-Linked Securities (ILS) funds, and buyers - the three groups active in ILS - have predominantly weathered 2017 loss activity with a view that reinsurance products backed by 'alternative' capital have become mainstream, according to a new Global ILS Market Survey by Willis Towers Watson.

Swiss Re expects the global reinsurance industry to consolidate as the distinction between insurers and reinsurers become increasingly blurred, an executive from the Swiss Group said in Baden Baden, reports Reuters.

Current market conditions are putting increasing pressure on returns with some companies viewing consolidation as a potential solution, James NASH, CEO of International at Guy Carpenter said in his opening remarks at the Baden-Baden 2018 Reinsurance Meeting hosted by the global risk and reinsurance specialist.

E+S Ruckversicherung AG, the Hannover Re Group's unit handling German business, continues to expect a positive premium development in the German market for the January 2019 renewals, albeit at a somewhat more diminished pace than in 2018.