News - Insurance
UKRAINE: 57 insurance companies and 7 insurance brokers left the market in 2019
In 2019, the National Commission for State Regulation of Financial Services Markets closed 27.5% more non-banking financial institutions than during 2018.
26 February 2020KAZAKHSTAN: non-life insurers' administrative expenses exceeded 28% of their net premiums in 2019
According to the National Bank of Kazakhstan figures, in 2019 non-life companies' profit decreased by 25.5% to KZT 52.2 billion (~EUR 122.29 million).
26 February 2020UZBEKISTAN: O'zbekinvest Hayot growth of paid claims exceeded 62% in 2019
Insurance company O`zbekinvest Hayot summed up its 2019 results, according to which the company's paid claims increased by 62.1% at the end of the year, exceeding UZS 110.4 billion (~EUR 10.4 million), as UZREPORT agency informed.
26 February 2020Allianz, FY2019: group's operating profit increased 3% to almost EUR 11.9 billion
For the year 2019, Allianz Group reported a net income (attributable to shareholders) of EUR 7.9 billion, 6.1% more year-on-year, mostly due to the increased operating profit and improved non-operating result, as well as a lower tax rate, as the company mentions.
25 February 2020WTW, FY2019: net income reached USD 1.0 billion, 50% more year-on-year
For year 2019, Willis Towers Watson (WTW) reported a net income (attributable to the company) of USD 1,044 million, up 50% year-on-year (FY2018: USD 695 million).
25 February 2020KAZAKHSTAN: AM Best revised Halyk-Life outlooks to positive from stable
AM Best has revised the outlooks to positive from stable and affirmed 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).
25 February 2020S&P revised UNIQA Insurance Group's CreditWatch to negative from developing
On February 20, 2020, S&P Global Ratings revised UNIQA Insurance Group CreditWatch as a result of the planned internal restructuring and the potential shift in UNIQA's financial risk profile, as a result of the purchase over AXA CEE's subsidiaries.
24 February 2020HUNGARY: NN enters the non-life insurance market
NN officially announced its entrance in the Hungarian non-life insurance market. The company plans to offer three non-life types of products which will widen its product portfolio.
24 February 2020Scott Gunter appointed as CEO of AXA XL
AXA announced the appointment of Scott Gunter as CEO of AXA XL. He will replace Greg Hendrick, who has decided to pursue other opportunities outside the Group.
24 February 2020ROMANIA: ASF has withdraw the operating authorisation of CERTASIG
The Board of the Financial Supervisory Authority (ASF) has decided, during the meeting on 19.02.2020, to withdraw the operating authorisation of the company CERTASIG Societate de Asigurare si Reasigurare S.A (CERTASIG), due to the fact that the company did not restored the level of eligible own funds covering the minimum capital requirement (MCR) within the term provided by law, wrote Romanian insurance portal 1asig.ro.
24 February 2020ALLIANZ SE Board of Management: Klaus-Peter ROHLER succeeds Axel THEIS
ALLIANZ informed in a statement that Axel THEIS (62), Member of the Board of ALLIANZ SE responsible for insurance in German-speaking countries and Central and Eastern Europe, retires at his own request on March 31, 2020 after more than 33 years at ALLIANZ. Klaus-Peter ROHLER (55), currently Chairman of the Board of Management of ALLIANZ Deutschland AG and ALLIANZ Versicherungs-AG, has been appointed by the Supervisory Board as his successor effective April 1, 2020.
24 February 2020ROMANIA: ASF and EIOPA to launch an independent assessment of the local insurance sector
The Financial Supervisory Authority of Romania (ASF) and the European Insurance and Occupational Pensions Authority (EIOPA) announced their intention to launch an independent assessment of the Romanian insurance sector through a balance sheet review.
20 February 2020AMODO's CEO Marijan Mumdziev, Keynote Speaker at IIF 2020 - MOTOR INSURANCE - "A glimpse in the future"
After years of discussions and innovation, where are motor insurance markets standing today in IoT / telematics terms? Marijan MUMDZIEV, CEO of AMODO, the Croatian insurtech that has been listed among the top five insuretech startups in the world by the Financial Times, will assess the current situation and share his views with regard the future developments at the motor conference in Vienna, on 6 April.
20 February 2020Connected houses - the shift from financial support to risk prevention, under debate in Vienna
Matteo CARBONE, Founder and Director, IoT Insurance Observatory and one of the top insurtech influencers will give the Keynote Speech at IIF 2020 - PROPERTY INSURANCE - in a connected world, on 7 April, in Vienna.
20 February 2020GDV: insured losses caused by "Sabine" in Germany amount to 675 million euros
Sabine, the powerful winter storm battered Europe last week, cost German insurers a grand total of EUR 675 million, from 540,000 insured losses, the German Insurers Association said.
20 February 2020Aleksandra AGATOWSKA appointed President of the PZU Zycie Board
Aleksandra AGATOWSKA, a current member of the management board of PZU Zycie, was appointed by the company's Supervisory Board to be the President of the Management Board.
20 February 2020Swiss Re, FY2019: consolidated group income grew 73% year-on-year
Swiss Re announced its full-year 2019 results. The figures show a net income at the end of the year amounting USD 727 million, which is 73% more year-on-year
20 February 2020STATISTICS: NORTH MACEDONIA, FY2019: MTPL policies generated 43% of total business and more than a half of total settled payments
The preliminary market figures submitted by Macedonian ISA to XPRIMM.com, indicate that at the end of 2019 the local insurance industry totaled MKD 10.58 billion (EUR 172 million), up by 6.61% y-o-y.
20 February 2020STATISTICS: KOSOVO, FY2019: insurers reported annual loss of EUR 2.8 million
The insurance market of Kosovo totaled EUR 101.5 million at the end of 2019, 8.5% more y-o-y, according to data provided by the Central Bank (CBK).
20 February 2020STATISTICS: ALBANIA, FY2019: market ended 2019 with a 4% growth in annual sales
Albanian insurance market reached over ALL 17.6 billion (EUR 145 million) during year 2019, or 4.11% more y-o-y, according to the market figures published on the AFSA's website.
20 February 2020
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