Moody’s RMS®, the leading risk modeling and solutions company, estimates that insured losses from Windstorm Ciarán, also known as Emir, will likely fall between EUR 0.9 – 1.5 billion (USD 1.0 – 1.6 billion). France accounts for the majority of the loss.
Munich Re’s specialist insurer and provider of inspection and risk management services, HSB (UK and Ireland) has announced the strengthening of its UK Business Development team by appointing Sarah Purnell, Michael Farrugia and Lydia White to support HSB's growth and strengthen its broker partner relationships across the UK.
The health insurance system of Armenia will be launched from mid-2024, AMD 18 billion (~EUR 41.86 million) will be allocated for these purposes, according to the Minister of Health Anahit Avinesyan, ArmInfo wrote.
In Azerbaijan, in January-September 2023, paid claims in voluntary insurance increased, amounting to AZN 320.15 million (EUR 178 million), which is 29% more y-o-y, ABC.AZwrites with reference to the Central Bank report.
According to the Association of Estonian Insurance Companies (EKsL), 30% of the country’s population has life insurance. Last year, collected life insurance premiums reached EUR 60 per person, while non-life insurance amounted to EUR 347 per person, the Association wrote.
Data collected by the Samar Automotive Market Research Institute (IBRM) shows that during the first three quarters of 2023, 992,552 passenger cars and commercial vehicles with a total permissible weight of up to 3.5 tons were registered for the first time, Gazeta Ubezpieczeniowa writes.
MTIBU reported that for January-September 2023, over 5.7 million MTPL contracts were concluded, which is 9.3% more y-o-y. However, it still remains 15.7% lower than in the first 9 months of pre-war 2021, according to a press release from MTIBU.
Industry insured losses due to wind from Winter Storm Ciaran (also named Emir by the Free University of Berlin) will range between EUR 800 million and EUR 1.3 billion, the majority of which are expected in France, the leading global data analytics and technology provider Verisk estimates.
As the storm "Ciaran" caused heavy rains and therefore floods throughout Albania, the local insurers’ association brought once again to the attention the issue of the low insurance coverage of the Albanian homes.
Munich Re recorded a net result of EUR 1,169 million in Q3 2023, slightly above the EUR 1,102 million in Q3 2022, and EUR 3,593 million in 9M, which is 14% less y-o-y. As such, closing a third consecutive quarter with a net result surpassing the pro-rata guidance, Munich Re raised its annual guidance.
UNIQA Group announced two changes to the management team, starting November 2023: Cristina Anculescu, previously Member of the UNIQA Asigurari de Viata Board, was appointed Head of Talent & Development for the Group, while Remus LAPUSAN returns to the Board of Directors of UNIQA Asigurari de Viata.
Root Platform (Root), the low-code, API-first, end-to-end insurance technology platform provider, is proud to announce its first strategic partnership in the UK with Connect by Admiral (Connect), a subsidiary of the leading insurer Admiral Group.
On the occasion of The Geneva Association's 50th anniversary, the international association of insurance companies is announcing the Geneva Association Summit 50 on 28 – 29 November 2023, a virtual event that will line up an impressive team of speakers.
According to the September 2023 Monthly Report published by HANFA – Croatian Financial Services Supervisory Agency, at the end of September 2023 the total premium collected by the 15 local insurers amounted to EUR 1.3 billion, of which EUR 0.2 billion (17.15%) related to life insurance premium and EUR 1.1 billion (82.85%) to non-life insurance premium.
The growth of the insurance sector in 3Q2023 exceeded 60% y-o-y, total GWP reached KGS 2.39 billion (EUR 25.39 million). At the same time, paid claims increased by 54%, to KGS 387.36 million (EUR 4.12 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.