 STATISTICS
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by Andrei VICTOR, 2024-07-02
The insurance market of Cyprus totaled EUR 330 million at the end of Q1 2024, up by 7.8% y-o-y, according to Insurance Association of Cyprus - IAC's data. Gross claims incurred increased by 10.8% y-o-y to EUR 143.1 million, of which EUR 71.9 million - life indemnities (+21% y-o-y), EUR 71.2 million - non-life (up by 2.1%).
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TOP NEWS
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by Daniela GHETU, 2024-07-04
Faced with the great risks and challenges of our time, it is essential to pool public and private resources, using the leverage of insurance mutualization to reduce costs for the community, concluded the 2024 General Assembly of ANIA – the Association of Italian Insurers, which by the end of August will celebrate its 80th anniversary.
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by Marina MAGNAVAL, 2024-07-02
Liberalization of the motor liability insurance market was discussed at the international conference "Current Issues of Civil and Commercial Legislation and Legal Practice" organized by the Faculty of Law of the University of Mostar on June 27 and 28, 2024, the Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina said.
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by Daniela GHETU, 2024-07-04
The Croatian Financial Services Supervisory Agency (Hanfa) has adopted a new Rulebook on the procedure for resolving compensation claims of persons injured in traffic, thus providing clear guidelines for insurers on the obligation arising from the new Law on Compulsory Traffic Insurance adopted in the beginning of the year.
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by Marina MAGNAVAL, 2024-07-02
In the first five months of the year total GWP collected by insurance companies amounted to EUR 776.7 million (+11.4% y-o-y), of which EUR 133.8 million (17.2%) refers to life insurance, and EUR 642.9 million (82.8 %) – to non-life insurance, according to a monthly report of the Croatian Financial Services Supervisory Agency (Hanfa).
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by Marina MAGNAVAL, 2024-07-02
During the last summer travel season, Latvian insurers paid out EUR 1.66 million to their clients for various types of accidents. 68% of this amount represents reimbursements for travelers' medical expenses and repatriation, according to data collected by the Association of Latvian Insurers (LAA).
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by Daniela GHETU, 2024-07-02
Following the necessary regulatory and competition approvals, Generali CEE Holding BV, the parent company of Generali subsidiaries in the CEE, announced it has completed the acquisition of 4LifeDirect sp. z o. o., an innovative life insurance distribution company in Poland.
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by Daniela GHETU, 2024-07-04
As of July 1st, the merger of the Polish insurers belonging to the Vienna Insurance Group (VIG), Wiener and Compensa, became official. The newly created company operates under the Compensa brand and is ranking fourth among the VIG’s CEE subsidiaries.
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by Andrei VICTOR, 2024-07-02
Zurich Insurance Group announced an agreement to acquire AIG’s global personal travel insurance and assistance business (AIG Travel) for USD 600 million, plus a potential additional earn-out payment.
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by Daniela GHETU, 2024-07-02
WTW, a leading global advisory, broking, and solutions company, announced the introduction of IMI Plus, an enhanced investment management insurance solution designed to meet the needs of all kinds of asset managers, including wealth managers, hedge funds, private equity firms and real estate strategies.
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by Marina MAGNAVAL, 2024-07-02
In January-May 2024, 17 insurance companies in Azerbaijan collected AZN 643.75 million (~EUR 349.86 million), which is 13.65% more y-o-y. At the same time, total paid claims amounted to AZN 274.83 million (+57.6%), ABC.AZ reports with reference to the Central Bank of Azerbaijan.
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by Marina MAGNAVAL, 2024-07-02
In January-May 2024, Ukrainian insurance companies increased MTPL GWP by 25.8% to UAH 3.8 billion (~EUR 86.36 million), while at the same time, premiums on e-policies increased by 39.6% to UAH 3 billion, Forinsurer reports with reference to the ?TIBU (Motor (Transport) Insurance Bureau of Ukraine).
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by Marina MAGNAVAL, 2024-07-02
From January to May 2024, total GWP of the TAS group amounted to UAH 1665.72 million (~EUR 37.86 million), which is 45.4% more y-o-y. In the Motor Hull segment, the company collected UAH 317.25 million, or 19.05% of its total GWP and 29.9% more y-o-y, Forinsurer writes.
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by Andrei VICTOR, 2024-07-02
Global re/insurance broker Aon announced that the forthcoming launch of its Reinsurance Market Dynamics July 2024 report, which will provide a comprehensive analysis of the marketplace at the June/July 2024 reinsurance renewals - reveals that insurers generally achieved positive mid-year renewal outcomes, which included rate reductions for property catastrophe risk and improvements in terms and coverage.
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INSURANCE EUROPE NEWS
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by null, 2024-07-04
Insurance Europe has responded to a consultation by the International Association of Insurance Supervisors (IAIS) on its Holistic Framework. The Framework is a set of supervisory policy measures, a Global Monitoring Exercise (GME), and implementation assessment that reviews and mitigates systemic risk in the insurance sector, including through recovery and resolution planning requirements (RRP).
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by null, 2024-07-04
Insurance Europe and the European Insurance CFO Forum have reiterated their support for the EU’s Taxonomy Regulation which came into force in July 2020 and aims to create a common framework for classifying environmentally sustainable economic activities.
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EIOPA NEWS
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by Daniela GHETU, 2024-07-02
The European Insurance and Occupational Pensions Authority (EIOPA) published its Opinion regarding the supervision of captive (re)insurance undertakings, with a particular focus on intra-group transactions, the prudent person principle and governance.
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by Daniela GHETU, 2024-07-02
The European Insurance and Occupational Pensions Authority (EIOPA) has decided to supplement its Decision of 10 June 2021 on collaboration between supervisory authorities with a new annex dedicated to supervisory cooperation for when a (re)insurance undertaking relocates within the EU.
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ON THE MOVE
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by Daniela GHETU, 2024-07-02
Generali announced that Carlo TRABATTONI is appointed Chair of the Board of Directors of Generali Real Estate S.p.A. SGR, the Group’s company focused on the management of real estate investment funds. Aldo Mazzocco, CEO of Generali Real Estate S.p.A., also takes up the position of Vice Chair of GRE SGR.
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by Andrei VICTOR, 2024-07-02
Global re/insurance broker Aon announced that Lisa Stevens will transition into a newly created Chief Administrative Officer role overseeing the People Organization, Marketing and Communications, and Public Affairs.
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by Andrei VICTOR, 2024-07-02
Following the announcement on the new Group’s organizational structure, Generali announces that Carlo Trabattoni is appointed Chair of the Board of Directors of Generali Real Estate S.p.A. SGR (GRE SGR), the Group’s company focused on the management of real estate investment funds.
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by Daniela GHETU, 2024-07-02
Jaros?aw MATUSIEWICZ was appointed to the Management Board of TUZ Ubezpieczenia, in which starting 1 July he performs the duties of the President, awaiting the consent of the Polish Financial Supervision Authority (KNF) to assume the function of President of the Management Board
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EVENTS
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CURRENT XPRIMM REPORTS
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