News - Insurance
BELARUS: in January-May the market rises 15.5%
For January-May 2024, the insurance sector of Belarus amounted to BYN 1,060.4 million (~EUR 0.30 billion), which is 15.5% more y-o-y, the Ministry of Finance reports.
8 July 2024KAZAKHSTAN: from January to May the market grew by 38%, the main driver is voluntary personal insurance
From January to May, assets of the insurance sector of Kazakhstan grew by 2.3%, and at the end of May amounted to KZT 2.6 trillion (EUR 5.40 billion), mainly because of the voluntary reorganization of KazakhExport into an export credit agency.
8 July 2024NORTH MACEDONIA: in the first five months over EUR 7.2 million paid for life insurance
Citizens received MKD 443 million (over EUR 7.2 million) from life insurance in the first five months of the year, according to the official data submitted by six life insurance companies to the Insurance Supervision Agency (ASO).
8 July 2024POLAND: MTPL and MoD prices increase in 2Q2024
The prices of MTPL and MoD continued to increase across the country in the 2Q2024. Despite rising prices, drivers still take additional assistance policies, according to data from CUK Ubezpieczenia, Gazeta Ubezpieczeniowa (Insurance Gazette) writes.
8 July 2024Preparing for its 80th anniversary, ANIA held its General Assembly, emphasizing the instrumental role of insurance in protecting people and communities
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.
4 July 2024CROATIA: Rulebook on the procedure for resolving compensation claims of injured persons in traffic
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.
4 July 2024Insurance industry: EU taxonomy law needs changes to fulfil green potential
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.
4 July 2024Recovery and resolution planning: Insurance Europe responds to IAIS’ Holistic Framework consultation
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).
4 July 2024The merger of Polish VIG subsidiaries Wiener and Compensa finalized
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.
4 July 2024STATISTICS: Cypriot Q1 insurers' business expanded to EUR 330 million
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%).
2 July 2024Jarosław MATUSIEWICZ appointed President of the Board, subject to KNF’s approval
Jarosław 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
2 July 2024Generali: new Group’s organizational structure and appointments for the key leading positions
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.
2 July 2024Aon appoints Lisa Stevens to serve as Chief Administrative Officer
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.
2 July 2024Trabattoni appointed Chair of Generali Investments Luxemburg and Generali Real Estate SGR
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.
2 July 2024Aon: Favorable renewal in a dynamic reinsurance market at mid-year
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.
2 July 2024EIOPA amendment to facilitate cross-border cooperation between supervisors when (re)insures relocate within the EU
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.
2 July 2024EIOPA issued its opinion on the supervision of captive insurers
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.
2 July 2024AZERBAIJAN: in January-May the market rises 13.65% y-o-y
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.
2 July 2024Bosnia and Herzegovina: a phased approach is necessary for liberalization of the motor liability insurance market
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.
2 July 2024CROATIA: In the first five months the market rises 11.4% reaching EUR 776.7 million
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).
2 July 2024
