News - Insurance
Goran Ivanišević and Luna Vujović presented new UNIQA SEE Future foundation– support for a better future
Tennis legend Goran Ivanišević and the young tennis star, Luna Vujović, played an unusual exhibition match in Zagreb on the European Square, as part of the announcement of the establishment of the UNIQA SEE Future Foundation.
30 April 2024UNIQA: Capital ratio increases to 255% and good expectations for 2024
The Austrian UNIQA Group report, solvency capital report and sustainability report for 2023 was published confirming the “very positive developments of the companies in CEE, which made a substantial contribution of around 50% to its increased profitability.”
30 April 2024ARMENIA: in 1Q2024, tax payments of the insurance sector to the state budget increased by 9.3% y-o-y
According to the 1Q2024 results, the list of 1000 largest taxpayers in Armenia included, as a year earlier, 3 insurance companies out of the existing 7: LIGA Insurance, Nairi Insurance and INGO Armenia (now INGO), ArmInfo reports.
30 April 2024AZERBAIJAN: Azerbaijan to create analogue of Turkish Insurance Data Center
Negotiations are underway with the Turkish Insurance Data Center about creation of a similar system to support digital transformation in the insurance sector in Azerbaijan, ABC.AZ wrote.
30 April 2024KAZAKHSTAN: AM Best confirms the financial strength rating and long-term credit rating of Halyk-Life
On April 12, 2024, the rating agency AM Best confirmed the financial strength rating at B++ (Good) and the Long-term issuer credit rating at bbb (Good) for the life insurance company - Halyk-Life. The outlook is stable, the insurer wrote on its website.
30 April 2024KAZAKHSTAN: voluntary life insurance coverage in the country is 0.8%
Among 6.4 million Kazakhstanis who insured their lives, only 1.5% did so voluntarily, as Zhanar Zhubaniyazova, chairman of the life insurance company - Halyk Life, said, Kursiv wrote.
30 April 2024KYRGYZSTAN: 80% of the insurance sector’s income in 2023 came from premiums
In 2023, the income of 16 insurance companies operating in the insurance market of Kyrgyzstan increased 1.3 times y-o-y and amounted to KGS 3.8 billion (EUR 38.56 million). At the same time, the largest share of income (80% of the total) was received from insurance premiums, the National Statistical Committee of the Kyrgyz Republic reports.
30 April 2024LATVIA: Baltic Insurance Conference: the most significant challenges in the coming years are related to data and digitization
The most significant challenges of the insurance industry in the field of regulation and development in the coming years are related to data and digitization.
30 April 2024MONTENEGRO: "New Horizons of Insurance" conference took place on April 22-24, in Budva
The National Bureau of Insurers of Montenegro and the Montenegrin Actuarial Society organized the second edition of the Montenegrin Insurance Days - a conference named "New Horizons of Insurance". The event took place on April 22-24, at the Avala Hotel in Budva.
30 April 2024VIG Re publishes Annual Report and SFCR 2023, confirming preliminary figures communicated earlier and a positive outlook
VIG Re, the reinsurance arm of Vienna Insurance Group, has published its Annual Report confirming preliminary financial figures communicated on 20th March 2024.
30 April 2024GEORGIA: In 2023, the number of insured air vehicles decreased by 13%
In 2023, the number of insured air vehicles in Georgia amounted to 84 units, which is 13% less y-o-y, according to the financial reports of insurance companies, commersant wrote.
30 April 2024STATISTICS: POLAND, FY2023: double digit growth rates on almost all insurance lines
Polish insurers wrote gross premiums worth EUR 18.14 billion in 2023, 17.6% up y-o-y. With a few exceptions, all business lines saw double-digit growth rates. Paid claims reached EUR 10.17 billion, 7.5% more than in 2022.
25 April 2024STATISTICS: SLOVENIA, FY2023: despite the strong impact of June floods, the market fared well
The Slovene insurance market grew by 9% in 2023, consolidated GWP reaching EUR 3.05 billion, which is 9% more y-o-y. At the same time, paid claims went up by almost 23%, to EUR 2.22 billion, driven by the compensations pai after the floods in June 2023.
25 April 2024Mandate renewals and appointments in the AXA Group’s managing bodies
Antoine GOSSET-GRAINVILLE mandate as Director and Chairman of the Board of Directors was renewed for a term of four years at the Shareholders’ Meeting held on April 23.
25 April 2024Litmus Analysis’ Reinsurance Renewal Roundup – January 2024: improvements in risk-adjusted pricing and growing premium volume
According to an examination of the P&C treaty renewals from January 2024 of the big four European reinsurance groups (Munich Re, Hannover Re, Swiss Re, Scor) by Litmus Analysis, suggest that recent measures to improve the quality of their reinsurance book may be contributing to a more differentiated approach to managing risk appetites and underwriting strategies in the current business environment.
25 April 2024GRAWE Group supports Moldova's EU integration chances
GRAWE Carat, the leader of the insurance market in the Republic of Moldova, celebrated 20 years of successful activity. The anniversary event took place on Tuesday, 23 April at the Palace of the Republic in Chisinau and gathered representatives of the authorities of the Republic of Moldova, Austria and the EU, members of the management of the international concern GRAWE, customers, business partners, employees, and collaborators of the company.
25 April 20247 CEE countries are in Top 10 countries with the highest retirement age increase
A new study by AgeCalculator.com reveals that Bulgaria saw the highest increase, of 13.26%, in the average retirement age between 2000 and 2020. Estonia and Latvia complete the Top 3 ranking. Other 4 CEE countries are included in the Top 10.
24 April 2024Last week’s Persian Gulf flooding may result in economic losses of 100s million USD
“The flooding this week in the Persian Gulf is a stark reminder that flood risk is a truly global peril,” said Steffi Uhlemann-Elmer, PhD, Director of Model Product Management at Moody’s RMS.
24 April 2024Insurance Europe: EU must stay on course to deliver Solvency II
Insurance Europe has called on the European Commission to ensure that the forthcoming technical work on Solvency II - the EU's prudential regime that regulates the industry – fully reflects the political agreement made in December 2023.
24 April 2024Munich Re, Q1 2024: preliminary net profit of EUR 2.1 billion
With a preliminary net profit of approximately EUR 2.1 billion in the first quarter of 2024, the Munich Re Group has made a strong start to the year, significantly surpassing analysts’ expectations of EUR 1,476 million, the Group announced.
24 April 2024
