News - Insurance

Kosovo insurers posted 9 months profits of EUR 6 m

Kosovo insurers posted a net profit of EUR 5.9 million in the nine months through September 2021, EUR 1 million more compared to a year earlier, Central Bank monthly figures showed.

UNIQA expects YE gross profit between EUR 330 million and EUR 350 million

Austrian insurance Group UNIQA reported 9 months 2021 GWP worth EUR 4.83 billion, 18% more y-o-y - - as a result of the first-time consolidation of the former AXA companies in CEE, and earnings before taxes of EUR 298.7 million, 39.7% more vs. September 2020 (EUR 213.8 million).

SAVA Re: Nine-month profit of EUR 57.2 m exceeds full-year profit target

In the first nine months of 2021, the Sava Insurance Group generated EUR 548.8 million in operating revenue and a net profit of EUR 57.2 million vs. EUR 46.7 million a year before. The Sava Insurance Group's operating revenue and net profit represented 80% and 108%, respectively, of the full-year 2021 targets, thus company representatives believes that the estimated profit for 2021 published after the close of the half year will be exceeded.

Former CEO of Lloyd's of London to join WTW BoD

Re/insurance broker Willis Towers Watson (WTW) announced that it has selected Inga BEALE, Fumbi CHIMA, Michael HAMMOND, and Michelle SWANBACK to join its Board of Directors.

ERGO and Santander Germany conclude partnership

German insurer ERGO and Santander Consumer Bank, Germany's fifth-largest credit institution, have agreed on a new partnership. In the first half of the coming year, the two companies will optimize their product offering for their customers as part of a strategic partnership.

CITY Insurance bankruptcy case settlement prolonged

The Bucharest Court did not pronounce on Wednesday - 17th November 2021 -, regarding the initiation of bankruptcy proceedings in the case of the insurance-reinsurance company CITY Insurance SA, according to A solution to CITY's request to suspend the process until the solution of the appeal made against the ASF's decision to withdraw the authorization is expected, legal sources told

VIG, 3M2021: top results exceeding the pre-crisis figures of 2019

Vienna Insurance Group's results for 9M2021 have improved significantly y-o-y, exceeding the pre-crisis figures (2019). Net profit went up by approx. 54% and earnings per share increase to EUR 2.86. Premium volume increases 5.1% to EUR 8.4 billion. Combined ratio improves 0.9 percentage points to 95.2%.

STATISTICS: MOLDOVA, 3Q2021: the share of non-life insurance exceeded 95% of GWP

In the third quarter of 2021, the Moldovan insurance market ended with y-o-y growth of more than 35% (MDL 1.43 billion/EUR 69.83 million) in local currency. At the same time, the growth in paid claims was very moderate - at the level of 6.53% (MDL 467.10 million), according to the data published by the National Financial Market Commission.