Insurance -

S&P's confirms "A+" rating for DEUTSCHE Ruck

Editor: Mihaela CIRCU
2018-12-10

The rating agency STANDARD & POOR's (S&P's) has confirmed its "A+" rating for the DEUTSCHE Ruck Group. The outlook remains "stable".

Nine Romanian MTPL insurers fined for violation of the competition regulations; legal action against the sanction will follow

Editor: Daniela GHETU
2018-12-06

Nine Romanian MTPL insurers and UNSAR, the insurers' association, were fined by the national Competition Council with total fines of approx. EUR 53 million for violation of the national and European competition regulations by coordinating market behavior to increase compulsory MTPL insurance charges.

Five CEE re/insurers have an "A" rating from A.M. Best

Editor: Daniela GHETU
2018-12-06

Among the re/insurance companies rated by A.M.Best there are 23 entities domiciled in the CEE, SEE and CIS regions. Out of this total, 5 companies have an "a" Issuer Credit Rating (ICR) and an "A" Financial Strength Rating (FSR)

STATISTICS: BULGARIA, 2008-2017 timeline: claims went up at a double pace than GWP

Editor: Daniela GHETU, Cosmin CONCEATU
2018-12-06

The Bulgarian insurance market saw a 21.5% increase in GWP volume throughout between 2008 and 2017, the 10 years for which xprimm.com statistical database in presenting market results. The MTPL insurance class had the largest contribution, in absolute terms, to the market growth.

ZURICH is on 2017-2019 track to achieve its financial targets

Editor: Andrei Victor
2018-12-06

Zurich Insurance Group is fully delivering on its 2019 financial targets and is well positioned to deliver future earnings growth and attractive shareholder returns, as the company announced in a statement.

Swiss Re Corporate Solutions appoints Head of Excess & Surplus North America

Editor: Andrei Victor
2018-12-06

Swiss Re Corporate Solutions appointed Daniel VETTER as Head Excess & Surplus North America, effective January 1, 2019, as the company announced in a press release.

MetLife named its EMEA head as CEO of Japan unit

Editor: Andrei Victor
2018-12-06

MetLife announced that Eric CLURFAIN, currently Executive Vice President and Head of EMEA, has been named Chairman, President and CEO of MetLife Japan - the company's second largest market globally and its largest retail life insurance business, effective Feb. 1, 2019, following approvals.

GENERALI Acquires Alternative Asset Management Firm from Bank of America

Editor: Andrei Victor
2018-12-06

Italian insurer GENERALI has acquired CM Investment Solutions Limited (CMISL), from Bank of America Merrill Lynch. Details of the transaction were not disclosed.

CIG Pannonia Life Insurance raised capital by about EUR 4.63 million

Editor: Daniela GHETU
2018-12-06

The board of CIG Pannonia Life Insurance decided on 28 November to raise capital at its general insurance unit by HUF 1.5 billion (~EUR 4.63 million) and modify the unit's dividend policy, Hungarian news agency MTI reports.

American International Group appoints new CFO

Editor: Andrei Victor
2018-12-06

American International Group announced that it has appointed Mark LYONS to the role of Executive Vice President & Chief Financial Officer (CFO). He succeeds Sid SANKARAN, who will remain at AIG in an advisory capacity through the year-end reporting process for fiscal year 2018.

Editor: Marina MAGNAVAL
2018-12-06

For January-October 2018 GWP of the local insurers amounted to BYN 1.01 billion. Growth rate reached 16.7%, according to the data, published by the Ministry of finance of Belarus.

A.M. Best removes from under review with negative implications and affirms credit ratings of Sirius International Group, Ltd.

Editor: Marina MAGNAVAL
2018-12-06

On November 29 A.M. Best removed from under review with negative implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a" of Sirius Bermuda Insurance Company Ltd., Sirius International Insurance Corporation (Sweden) and its subsidiary, Sirius America Insurance Company (New York).

KAZAKHSTAN: EURASIA keeps about a quarter of total assets and almost 44% of total profit of the insurance sector

Editor: Marina MAGNAVAL
2018-12-06

In October the insurance market saw positive growth in terms of total assets and capital: assets increased by 0.2% to KZT 990.4 billion, total capital went up by 0.1% to KZT 462 billion, as allinsurance.kz informed.