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Press cuttings - archive

TURKEY: GM of Groupama Insurance, is retiring from office

Having been assigned as the Assistant General Manager of Groupama in 2008 following the acquisition of Guven Insurance and reassigned as the General Manager of Groupama Insurance Inc. and Groupama Pension Inc., Ramazan Ulger will be retiring from office on April 30th, 2017 as a result of the mutual decision made with the Group Management. Recruitment process is continuing for the new General Manager and will be announced briefly. More

LATVIA: Baltikums VIG renamed to InterRisk VIG

Non-life insurer Baltikums Vienna Insurance Group has been renamed to InterRisk Vienna Insurance Group, information from Firmas.lv suggests LETA. More

CROATIAN insurers end-Feb gross written premiums up 2.59% y/y

The combined gross written premiums of Croatian insurers totalled 1.7 billion kuna (229.5 million euro) at the end of February, up 2.59% on the year, official figures show. More

LITHUANIA:Telia introduces travel insurance

Mobile operator Telia Lithuania has started offering a travel insurance service for customers taking trips to foreign countries. The offer was launched in cooperation with insurance company Compensa and insurance broker Edrauda. More

BELARUS: Eximgarant of Belarus, China's Sinosure sign cooperation agreement

Eximgarant of Belarus and the Chinese company Sinosure signed an agreement on cooperation, BelTA has learned. More

BULGARIA: Almost 800,000 Euros allocated for agricultural insurance

In 2017, the budget allocated for the State Fund scheme for the co-financing of agricultural insurance premiums will amount to 1.5 million Lev (about 766,776 Euro), as decided in a meeting of the Governing Council of the State Fund "Agriculture" (SFA), reports Investor.bg. More

AZERBAIJAN: FMSB to focus on insurance market development

Insurance companies will bear responsibilities before Azerbaijan's Financial Market Supervisory Body (FMSB) in case of failure to fulfill their obligations under the insurance contracts. More

BULGARIA's TK Hold sells 15% of Asset Insurance to Bent Oil

Bulgarian diversified holding TK Hold said on Wednesday it sold its 15% stake in Sofia-based Asset Insurance company to current shareholder Bent Oil for 1.57 million levs (800,000 euro). More

LATVIA: Number of insurance cases against critical disease increases significantly

Insurance claims for cases of critical diseases like cancer, heart attack and stroke have grown by nearly 70% over the course of the past year, according to data from ERGO. More

TURKEY: Will NN Life and Pension Insurance be affected in case of an economic sanction against the Netherlands?

On March 11th, 2017 it was announced that the landing permit was revoked for Mevlut CAVULOGLU, Minister of Foreign Affairs of Turkish Republic. In this process, the Turkish government announced that they are going to impose sanctions against the Netherlands if such practice continues. More

TURKEY: Generali Insurance Dr. Gokhan Yildirim:An Entrepreneur who did not Insure his/her Enterprise cannot Succeed

However, there are many definitions for an entrepreneur, we can briefly define it as a person who takes risks. Yet, we should note also that an entrepreneur never takes uncalculated risks. An entrepreneur tries to make his/her desires come true taking the risk at the right time having tracked the opportunities. More

BULGARIA insurers' assets grow by 8.2% in 2016

The assets managed by Bulgarian insurance companies reachеd 6.6 billion levs (3.37 billion euro) at the end of December, up by 8.2% year-on-year, the country's central bank said on Monday. More

AZERBAIJAN: In 2016 banks ensured 73.2% of financial sector all assets

Domestic banks' assets occupied a dominant position in total assets of the financial sector of Azerbaijan for the past year. The government's report for 2016 says that the financial sector assets amounted to AZN 43 bn that is equal to 71.1% of the domestic gross product. More

KOSOVO insurers' net loss triples in 2016

Kosovo's insurance companies posted a combined net loss of 23.9 million euro ($25.4 million), more than three times higher than their aggregate net loss of 7.7 million euro in 2015, data from the country's central bank shows. More

LATVIA: Balta - insurance market grows more rapidly than the economy

"The number of insurance association owners is reducing, which could mean a smaller number of insurance companies in the future. One positive development for the insurance market is that it grows more rapidly than the economy," Balta chairman of the board Bogdans Bencaks told BNN in an interview. More

UKRAINE: Sayenko Kharenko - legal counsel on obtaining AMC clearance for MTIBU on new system for claims settlement

Sayenko Kharenko's antitrust team has provided legal assistance to secure Antimonopoly Committee of Ukraine (the "AMC") clearance for the introduction of a new direct claims settlement agreement between the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) and insurer members of the MTIBU.
More

UKRAINE: ALD Automotive moving corporate car leasing market towards outsourcing and modernity

"When I came to Ukraine almost two years ago, I found a very archaic situation in corporate car fleet management. Most of international companies operating in Ukraine were still buying cars directly and managing their own car fleets: as an evidence for that, we can look to the very tiny size of the car leasing market: only around 25000 vehicles, which also includes volumes from individuals and Ukrainian SMEs!", said Pierre-Vladimir Joliot, General Director, ALD Automotive. More

ACHMEA: Exceptional items impact result, fundamentals improved

"Achmea closed 2016 with a net loss of €382 million, primarily as a result of extraordinary expenses. The result was influenced by events such as the severe hail storms in June last year, which caused in excess of €300 million damage and affected more than 30,000 of our customers. The use of the Health result to limit the increase in premiums also lowered the result. Looking to the future, we have raised the provisions for personal injury claims and have formed a restructuring provision in connection with further changes to our organisation. Finally, there has been an impairment of goodwill of our Turkish insurance operations. Although it is disappointing to end the year with a loss, over the next few years we expect to benefit from the improvements implemented in recent years", said Willem van Duin, Chairman of Achmea's Executive Board. More

Aviva plc 2016 Preliminary Results Announcement

"Aviva's results are simple and clear cut: more operating profit, more capital, more cash, more dividend. And there is more to come. Aviva's financial position has been transformed and a distinctly stronger balance sheet and excess capital give Aviva more options. We are now actively planning a capital return to our shareholders and debt reduction in 2017 and will invest further to grow our businesses", said Mark Wilson, Group Chief Executive Officer. More

BULGARIA: NN Pension Insurance awarded 'Most Significant Corporate Partner'

The first annual SOS Children's Villages Bulgaria awards ceremony took place on 26 January 2017. The organisation honoured its benefactors and partners, and thanked them for the collaboration and support they provided to at-risk children and those deprived of parental care. NN Pension Insurance Bulgaria received the prize for 'The Most Significant Corporate Partner'. Anastas Petrov, CEO of NN Pension Insurance Bulgaria, said NN supports a number of projects that support children and students in Bulgaria. 'Children are our future. We believe that supporting SOS Children's Villages and their cause is an investment in the development of a better and happier tomorrow for our country.' More

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