TAS insurance group, whose insurers are among the TOP-3 companies in the non-life and life insurance sectors of Ukraine, in January 2021 increased its total GWP by 22.4% y-o-y, to UAH 252.4 million (~EUR 7.39 million*), Forinshurer reports
Alexander ZALETOV headed the department for supervision of financial companies at the Department for supervision of non-banking financial services at the National Bank of Ukraine, Forinshurer said
The State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic summed up the results of 2020, and awarded several financial market entities, as the regulator informed on its website
"S&P Global Ratings continues to positively assess growth prospects in the life insurance sector in 2021, which is supported by a number of regulatory initiatives and GWP increase from a low base in the past few years", says Ekaterina TOLSTOVA, Deputy Director of the Financial Institutions Group, S&P Global Ratings.
Despite the problems caused by the COVID-19 pandemic, the insurance sector in Azerbaijan has seen growth in a number of segments.
French reinsurer SCOR annouced three organizational moves "designed to further strengthen the organisation and support future success".
AEGON's Supervisory Board will propose to the Annual General Meeting of Shareholders in June 2021 to reappoint Matt RIDER as Chief Financial Officer for a four-year term. Matt RIDER was first appointed as AEGON's CFO in 2017.
German insurer ALLIANZ posted FY2020 total revenues of EUR 140.5 billion,down by 1.3% y-o-y (EUR 142.4 billion in 2019) while its operating profit decreased by 9.3% to EUR 10.8 billion (vs. EUR 11.9 billion), mostly due to the adverse impacts from COVID-19 amounting to approximately EUR 1.3 billion.
Dutch NN Group announced its operating result increased to EUR 963 million in H2 2020 from EUR 881 million the previous year, mainly driven by "a higher investment margin and lower administrative expenses at Netherlands Life".
Dutch insurance group AEGON reported a net loss of EUR 147 million in the second half of 2020, compared with a net profit of EUR 908 million in the second half of 2019.
According to the Q4 2020 Global Market Insights Report released by global re/insurance broker AON, insurance pricing is up across most lines and classes globally, as COVID-19 impacts, including the economic downturn, have resulted in heightened underwriting scrutiny and risk aversion from insurers.
The annual performance of the CCN group increased with 0.2%, showing a satisfactory progress for 2020, with a good underlying business activities and stable income. The digital transformation process was one of the factors helping the company face the COVID-19 challenges.
ASIA Insurance did not stop providing services during the quarantine period with insurance policies being sold and delivered, insured events being considered, obligations being fulfilled.
Business closings, event cancellation and mortality were the main drivers of the COVID-19 USD 3.9 billion losses, mostly incurred in Q2 and Q4, that have significantly affected Swiss Re's financial result for 2020, pushing it in negative territory.
Andela SUTIJA, CEO of ANO Insurance and Reinsurance Broker was elected the new President of the Association of Insurance and Reinsurance Brokerage Companies at the HGK (Croatian Chamber of Commerce) session held on February 17. Mate MARKOTA, a member of ZABA Partner, was elected her Deputy.
Austrian UNIQA's 2020 results exceeded the Group's expectations as formulated in April. GWP went up 3.6% after consolidation of AXA-CEE in Q4, while preliminary earnings before taxes reached EUR 57 million, including the EUR 243 million one-time charges for restructuring, adjustment of goodwill in CEE and AXA integration.
Motor insurance lines are still struggleling high combined ratios, despite the lower acquisition and administration costs achieved through digitalization; on the other hand, the industry will join the effort of setting up an efficient direct settlement system, top representatives of UNSAR explained recently.
Insurance Europe has published its response to a consultation by the European Commission on its proposals for a digital levy.
Kosovo active 13 insurers reported aggregate net profit of EUR 4.1 millon at the end of 2020, as compared with a market net loss of EUR -2.8 million at December 31st, 2019, according to data provided by the Central Bank (CBK).
At the end of 2020 the BiH insurance market totaled EUR 386.76 million (BAM 756.45 million), 0.83% less y-o-y, according to the YE 2020 market figures published by the local insurance agency - AZOBIH.
The value of GWP of the insurers operating in the Federation of Bosnia and Herzegovina decreased by 0.55% to EUR 270.52 million, while the Republika Srpska based insurers generated EUR 116.24 million, down by 1.48% y-o-y.
In terms of GWP, the top three largest insurers in the country were FBiH based insurers ADRIATIC osiguranje (9.13% market share), SARAJEVO osiguranje (8.60%) and EUROHERC osiguranje (8.27%).