News - Insurance

GEORGIA: TBC Insurance was the fastest growing insurer in 2017 and 2018

Georgian TBC Insurance ended 1H2019 with GWP worth GEL 39.3 million (EUR 12.03 million) and a net profit of GEL 5.96 million (EUR 1.82 million), which is 42% up y-o-y, in local currency. The growth rate achieved in GWP was close to 20% (in GEL), which qualifies the company as the fastest growing in the Georgian market in 2017 and 2018.

S&P re-confirms A+ rating with stable outlook for VIG Re

On October 15, 2019, the international rating agency Standard & Poor's confirmed its long-term public issuer credit rating of "A+" and financial strength rating of "A+" with stable outlook for VIG RE zajistovna, a.s., affirming the same rating VIG Re has enjoyed since its founding in 2008.

AZERBAIJAN: the country to expand cooperation with Iran in insurance sector

Over the past year, more than 70% trade growth between Azerbaijan and Iran indicates the development of mutual relations, both countries being keen on the implementation of mutually beneficial business projects, in a bid to stimulate trade volume, according to the Iranian Minister of Economic Affairs and Finance, Farhad DEJPASAND.

CZECHIA: CNB sets up Insurance and Pension Supervision Department

Czech National Bank (CNB) established a new Supervision Department for Insurance Companies and Pension Companies, as part of the Financial Market Supervision Department, which splits from the Prudential Supervision Department, starting October 1st, 2019.

EIOPA appoints two members of the IRSG

The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) appointed two new members with immediate effect and for the current mandate of the IRSG.

PartnerRe appoints new CFO and COO

PartnerRe Ltd. announced that Mario BONACCORSO, Executive Vice President and Chief Financial Officer, will retire on March 31st, 2020 to pursue a new entrepreneurial venture outside the company.

Tjeerd BOSKLOPPER appointed as CEO of NN Netherlands

NN Group announced the intended appointment of Tjeerd BOSKLOPPER as CEO Netherlands ad interim. The appointment is subject to approval by the Dutch Central Bank, and is expected to be effective as from early November 2019.