News - Insurance
Swiss Re sells ReAssure to Phoenix Group
Swiss Re announced today an agreement to sell its subsidiary ReAssure Group plc to Phoenix Group Holdings plc.
6 December 2019Sebastien JALLET joins CCR as Chief Investment Officer
On November 5, 2019, CCR announced the appointment of Sebastien JALLET as Chief Investment Officer.
6 December 2019Dan GUMPRIGHT appointed as FRISS Global VP of Products
At the beginning of December 2019, FRISS appointed Dan GUMPRIGHT as the Global VP of Products.
6 December 2019John DRZIK steps back from Marsh GR&D leader position
At the end of November 2019, Marsh announced that John DRZIK, President, Global Risk and Digital (GR&D), will step back from full-time responsibilities as leader of GR&D effective January 1, 2020, but will remain involved with the business as a senior advisor.
6 December 2019SAVA Re expects payments for claims arising from Typhoon Hagibis to exceed EUR 5 million
In October 2019, Japan was hit by Typhoon Hagibis, one of the worst storms in the region in decades. According to latest estimates, the claims payable by Sava Re under its reinsurance treaties will exceed EUR 5 million.
5 December 2019Sava osiguranje expands its operations in the Croatian market by completing the acquisition process for two ERGO companies
On December 1, 2019, Sava Osiguranje - the Croatian branch of the Slovene Sava Re company -, fully acquired the portfolio of ERGO insurance and ERGO life insurance companies operating in Croatia, thus doubling its weight on the local market.
5 December 2019AZERBAIJAN: financial markets supervision transferred to the Central Bank
On November 28, by Order of the President of the Republic of Azerbaijan, the Chamber of Financial Supervision of the Republic of Azerbaijan (FIMSA) was abolished, its task being transferred to the Central Bank.
5 December 2019POLAND: PKO Ubezpieczenia became member of UFG
At the end of November 2019, PKO Ubezpieczenia became the 30th member of the Polish Insurance Guarantee Fund (UFG).
5 December 2019POLAND: BEDYNSKIEGO joins UFG's management board
The Council of Insurance Guarantee Fund (UFG) of Poland appointed Radoslawa BEDYNSKIEGO as member of the management board of UFG, effective January 1st, 2020.
5 December 2019SCOR issues a new 3-year contingent capital facility
SCOR announced the launch of a new three-year contingent capital facility. This takes the form of a contingent equity line, providing the Group with EUR 300 million coverage in case of extreme natural catastrophe or life events impacting mortality.
5 December 2019MetLife's European insurance assets acquisition by Generali on stand by
Italian insurance group Generali could postpone presenting a formal bid for the European assets of MetLife Inc. until end March 2020, after the 2019 year-end results will be known, international news agencies report. Currently, the talks between the two parts are stalling because the difference of opinion on the operation's value.
5 December 2019Standard & Poor's places UNIQA Rating on CreditWatch Positive
Standard & Poor's (S&P) placed UNIQA Group on CreditWatch Positive after the Austrian insurer announcement of a possible merger between two of its branches.
5 December 2019KAZAKHSTAN: growth of Motor Hull GWP for 10 months exceeded 31% y-o-y
According to the National Bank of Kazakhstan, from January to October, Motor Hull increased by 31.4% y-o-y, to KZT 21.8 billion (~EUR 50.25 million), and its share in the portfolios of local insurers, as of November 1, 2019, amounted to roughly 8.3%, writes Allinsurance.kz.
5 December 2019RUSSIA: almost 9 in 10 insurance frauds fell on MTPL in the first nine months
According to the Bank of Russia, from January to September 2019, the total number of criminal cases in the insurance industry amounted to 1900, said Ekaterina ABASHIEVA, deputy director, Bank of Russia, insurance market department.
5 December 2019UKRAINE: TAS and ORANTA are leading in terms of MTPL contracts and GWP in 3Q2019
According to the data published by MTIBU (Motor Transport Insurance Bureau of Ukraine), the total number of MTPL contracts amounted to 2 million units, while the GWP on MTPL reached UAH 1.27 billion (~EUR 48.2 million*), reports Forinsurer.
5 December 2019STATISTICS: GEORGIA, 3Q2019: non-life paid claims almost doubled year-on-year
From January to September 2019, the Georgian insurance market generated GWP in amount of GEL 481.85 million (~EUR 149.24 million), which in local currency represents a 15.50% increase y-o-y.
5 December 2019STATISTICS: GREEK insurance market expanded to EUR 3 billion at the end of September
The Greek insurers reported aggregate GWP of EUR 3 billion at the end of September 2019, up by 7.8% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC).
5 December 2019STATISTICS: CYPRUS, 1H2019: Half-year premiums production maintained on ascending path by non-life LOBs
During January-June 2019, the Cypriot insurance industry increased by 2.5% y-o-y to EUR 468 million, according to half-year market figures published on the IAC website - the local professional association.
5 December 2019AZERBAIJAN: premium amounts on compulsory medical insurance to be set
The amendments to the law "On medical insurance" were put up for discussion and were proposed to set insurance premiums for compulsory medical insurance, as Trend reports referring to chairman of the parliamentary health committee Ahliman AMIRASLANOV.
5 December 2019ARMENIA: new health tax to attract additional resources into healthcare to be introduced
According to the Minister of Health of Armenia, Arsen TOROSYAN, the healthcare sector needs additional resources in the amount of AMD 150 billion (~EUR 283 million); the new health tax of 6% on the wages of the working population might be the source of that, ArmInfo reports.
5 December 2019
