News - Insurance
STATISTICS: Bulgarian market posted 6% increase in Q1 GWP
Bulgarian insurance market totaled BGN 807 million (EUR 413 million) at the end of March 2021, up by 6.1% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.
Life insurers' GWP increased by an annual 16% to BGN 150 million, mostly driven by the 77% increase reported by UL life policies, while non-life insurers' GWP rose by 4% to BGN 657 million.
ALLIANZ Bulgaria Life was the biggest player on the life insurance market with GWP of BGN 42.5 million, while LEV INS was the largest insurer on the non-life insurance market with GWP of BGN 81.3 million in the review period, equal to a market share of 12.4%.
Life insurers' GWP increased by an annual 16% to BGN 150 million, mostly driven by the 77% increase reported by UL life policies, while non-life insurers' GWP rose by 4% to BGN 657 million.
ALLIANZ Bulgaria Life was the biggest player on the life insurance market with GWP of BGN 42.5 million, while LEV INS was the largest insurer on the non-life insurance market with GWP of BGN 81.3 million in the review period, equal to a market share of 12.4%.
22 July 2021GDV: Insured flood damage in Germany in the range of EUR 4 - 5 billion; compulsory insurance could not shoulder the costs of climate change
The flood disaster last week in Germany caused losses in the range of EUR 4-5 billion according to preliminary estimates of GDV. While insurers are still assessing claims, it is clear that Bernd is one of the most devastating storms in the recent past.
22 July 2021Insurance Europe: EIOPA's unit-linked proposals would needlessly limit consumer's retail investment opportunities
Insurance Europe has published its response to a consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on a framework to address value for money risk in the European unit-linked insurance market.
22 July 2021Insurance Europe: recommendations should remain manageable for all companies, considering the principles of materiality and proportionality
"The European insurance industry is committed to the fight against climate change and supports the objective of European policymakers to reduce EU greenhouse gas emissions by at least 55% by 2030," states Insurance Europe's response to proposed TCFD guidance on climate-related metrics and financial impacts.
22 July 2021Natural disasters cost global economy USD 93 billion in 1H2021, according to Aon Catastrophe Report
Insurance claims from natural catastrophes breach 10-year average, exceeding USD 42 billion, Aon's Global Catastrophe Recap: First Half of 2021 report concludes its evaluation of the impact of natural disaster events that occurred worldwide in the first six months of the year.
21 July 2021#EVENT: Dive In Festival calls for active allyship
The 7th Global festival for diversity and inclusion confirmed for 21 - 23 September 2021. Media XPRIMM is a Media Partner for the event.
21 July 2021Amodo brings Usage-Based Insurance to businesses using SAP Solutions
Through its partnership with SAP, one of the world's leading producers of software for the management of business processes, Amodo will deliver usage-based insurance (UBI) to businesses using SAP® solutions, the Croatian digital solutions provider announced.
21 July 2021LHV Kindlustus unaudited results for 1H 2021
LHV Kindlustus, Estonian LHV Group's recently established non-life insurance unit, ended the first half of the year with a net loss of EUR 388,000. The consolidated net profit of AS LHV Group, including banking, asset management and insurance businesses, reached EUR 24.3 million.
20 July 2021RUSSIA: ACRA Rating Agency has affirmed the rating of GIC Perestrakhovanie at AA (RU)
On July 19, 2021, ACRA, Russian rating agency, affirmed the effective credit rating of GIC Perestrakhovanie (100% subsidiary of General Insurance Corporation of India (GIC Re) at AA (RU), outlook stable, the reinsurer said.
20 July 2021Sava Re announces the election of the SB's Chairman and Deputy Chairman
On 20 July 2021, the members of the Supervisory Board of Sava Re have re-elected Davor I. GJIVOJ jr., previously member of the Supervisory Board, as Chairman. Keith W. MORRIS, has been re-elected as Deputy Chairman.
20 July 2021UNSAR-IRES survey: 2 out of 3 Romanians would pay more for better medical services
Romanians want faster access and higher quality of medical services, according to the latest UNSAR-IRES survey, informed the insurance news portal www.1asig.ro here.
20 July 2021UNIQA raises its YE forecasts following H1 preliminary figures
Following preliminary H1 2021 statements, Austrian insurance group UNIQA announced is raising its FY2021 forecast. At the same time, for the first half of 2021, UNIQA estimates that earnings before taxes will exceed EUR 200 million.
20 July 2021Munich Re achieves net profit of EUR 1.7 billion in 1H and maintains its EUR 2.8 billion annual target
Munich Re achieved a preliminary net profit of around EUR 1.1 billion in the stand-alone second quarter of the year 2021 (consensus of EUR 808 million, a mean value derived from the estimates of 14 financial analysts). The half-year result amounts to around EUR 1.7 billion.
20 July 2021HANFA green lighted Zeljko Lovrincevic's appointment as CO's SB member
Croatia osiguranje, the largest Croatian insurer and one of the largest insurance group in the Adriatic Region announced in a statement published on the Zagreb Stock Exchange website that HANFA (Croatian Financial Services Supervisory Agency) authorized Zeljko Lovrincevic as member of the Supervisory Board of CROATIA osiguranje.
20 July 2021Bulgarian insurers posted Q1 profits of EUR 40 m
Bulgarian insurance market posted aggregate quarterly profit of BGN 78.2 million (EUR 40 million), about 63% more as compared with the snapshot at 31 March 2020 (BGN 47.9 million/EUR 24.5 million), according to the market statistics published on FSC website.
20 July 2021Aon announced leadership changes in EMEA following Cullen's exit
Global re/insurance broker Aon announced three senior leadership appointments in EMEA Region following John Cullen step down from his role as Chief Executive Officer (CEO) of Commercial Risk, Health and Affinity in EMEA at the end of June.
20 July 2021A FIRST for the CEE region from XPRIMM: The Insurance Distribution Report
The latest editorial premiere of XPRIMM - the CEET Insurance Distribution Report -, is now LIVE, on www.xprimm.com. Produced in cooperation with IAIS - the International Association of Insurance Supervisors - the report provides for a new approach, analyzing the importance of each category of distributors through assessing their contribution to the market GWP formation.
19 July 2021SERBIA: a Protocol on Cooperation to improve and develop insurance business signed between Serbia and the Republic Srpska
The Association of Serbian Insurers and the Association of Insurance Companies of the Chamber of Commerce of the Republic Srpska signed a Protocol on Cooperation, which provides for organization of educational meetings to improve and develop insurance business, the Serbian Association said.
19 July 2021RUSSIA: rating agency Expert RA affirmed the highest reliability rating of SBERBANK Life Insurance
The Expert RA rating agency has affirmed the financial strength rating of SBERBANK life insurance at ruAAA with a stable outlook. As noted by the agency, the rating was affected, among other things, by the high quality of the company's assets, high free capital and absence of a debt burden, the insurer said in a press release.
19 July 2021RUSSIA: Expert RA: bancassurance may grow by 12% in 2021
Despite the pandemic and quarantine restrictions in 2020, the Russian bancassurance market grew by 8.2% to RUB 668.4 billion (EUR 7.37 billion*). This was facilitated by anti-crisis measures, as well as the desire of citizens to receive a higher investment income due to low interest rates on deposits, according to the recent review of the Expert RA rating agency.
19 July 2021XPRIMM Newsletter
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