NN named Jacek KORONKIEWICZ as interim CEO of Nationale-Nederlanden Poland
The Dutch insurance group NN announced that as of 15 September, Jacek KORONKIEWICZ, currently CFO and COO of Nationale-Nederlanden Poland, heading the functions of Finance, Operations and Procurement, will act as interim CEO.
A.M. Best affirms credit ratings of Polskie Towarzystwo Reasekuracji S.A.
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Polskie Towarzystwo Reasekuracji S.A. (POLISH Re) (Poland). The outlook of these Credit Ratings (ratings) remains stable.
Poland: ALLIANZ was the best rated insurer by customers in 1H2018
Allianz was the most recommended life and property insurance brand in Poland in the first half of 2018, a research carried out by GfK showed. The company achieved the highest Net Promoter Score (NPS) values both in life and non-life insurance.
STATISTICS: POLAND, 1Q2018: moderate overall increase in GWP, with opposite dynamics on the life and non-life segments
Polish insurers ended 1Q2018 with GWP worth PLN 16.25 billion (EUR 3.86 billion), approx. 2% up y-o-y, depending on the currency of choice. Paid claims amounted to PLN 10.5 billion (EUR 2.5 billion), a sum by about 0.7% larger y-o-y.
VIG to increase its presence in Poland by acquiring the local unit of GOTHAER
Austrian VIG said is acquiring 100% of the shares of Polish non-life insurer GOTHAER Towarzystwo Ubezpieczen (GOTHAER TU). The purchase agreement was signed on 6 June 2018. The purchase is subject to approval by the local authorities.
POLAND: new increases in the MTPL tariffs expected after a recent Supreme Court ruling
Polish insurance market may witness a new round of increasing MTPL tariffs following a recent Supreme Court ruling, asking insurers to pay compensations for permanent disability not also to the victim, but also to his/hers close relatives.
STATISTICS: POLAND, FY2017: motor insurance lines account for 60% of the non-life GWP and over 67% of the paid claims
Polish insurers ended 2017 with aggregated net profit of PLN 5.7 billion (EUR 1.37 billion), of which PLN 2.3 billion came from the life insurance segment and PLN 3.4 billion was the result of the non-life business.
PZU Group, 2017: GWP and net profit exceeding all previous records
Polish PZU Group ended 2017 with a record GWP volume, of PLN 22.8 billion (EUR 5.46 billion), 13.0% up y-o-y. The Group's consolidated net profit also increased by 78.3% y-o-y to PLN 4.2 billion, despite the occurrence of large weather losses.
US-based UNUM to acquire Polish life insurer PRAMERICA Zycie
UNUM, a US-based financial protection benefits provider, has agreed to acquire Polish life insurer PRAMERICA Zycie TuiR from a subsidiary of financial services firm PRUDENTIAL FINANCIAL.
STATISTICS: Poland, 3Q2017: Stable results with impressive growth rates in motor classes
At the end of 3Q2017 the Polish insurance market totaled PLN 46.15 billion (EUR 10.70 billion), up by 13.37% y-o-y, as the financial indicators published by the Polish Financial Supervision Authority (KNF) show.
ON THE MOVE
MILLI Re announced new Manager appointment
Turkish reinsurer MILLI Re stated that Gokhan AKTAS has been appointed to the position of Manager of Foreign Inward Business on 01 September 2018.
Catherine DUFFY to Join AIG as Country Manager of Bermuda
American International Group - AIG announced that Catherine DUFFY will join the company's General Insurance business as Country Manager of Bermuda, at a date to be determined.
LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation
Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.
The challenges associated with digitization in the insurance sector discussed at the "Insurance in the Digital Future" Conference, in Ljubljana
On September 13, 2018, the Insurance Supervision Agency of Ljubljana organized its 4th conference on insurance. The subject of the event was Insurance in the Digital Future. Visit the event's web page to see the conference materials and photo gallery.
LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"
The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.
Munich Re: aggregation risk of cyber insurance is 'the elephant in the room'
Only 5% of cyber losses are insured, estimates Christian Fuhrmann, chief executive of global clients/North America, Munich Re. Very complex by nature and continuously changing, cyber insurance is one of the biggest challenges for insurers, he said.
AXA obtained approvals for XL acquisition. Last day of independence for XL Group
AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions.
FY2017 XPRIMM Property and Motor insurance reports to be launched in Monte Carlo
The latest editions of the XPRIMM Motor Insurance Report and Property Insurance Report will be launched in Monte Carlo, at the 62th edition of the "Rendez-Vous de Septembre," one of the most important international events dedicated to insurers, reinsurers, brokers, and reinsurance consultants.
Hannover Re: broadly diversified reinsurers with expertise and a very good rating will benefit from the current state of the market
Hannover Re expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019 and promising opportunities for next year arising from digitalization, increased demand for coverage of cyber risks, as well as from various openings in the Asian growth markets.
Willis Re - Market still soft, but functional
Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.