News - Insurance
STATISTICS: Bulgarian insurers posted double-digit increase in January-September business
Bulgarian insurance market totaled BGN 2.44 billion (EUR 1.24 billion) at the end of September 2021, up by 12.7% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.
17 January 2022RUSSIA: VSK: the largest share of claims in 2021 came from voluntary health insurance
According to the preliminary results of 2021, paid claims of VSK (one of the top-10 insurers) for all types of insurance reached almost RUB 37 billion (~EUR 0.44 billion*), and the number of settled claims was about 600 thousand, ASN wrote.
17 January 2022RUSSIA: Vladimir CHISTYUKHIN appointed First Deputy Chairman of the Bank of Russia
First Deputy Chairman of the Bank of Russia Sergey SHVETSOV decided to leave his post on March 21, 2022, ASN reports with reference to the press service of the regulator.
17 January 2022RUSSIA: Expert RA forecasts the insurance market growth in 2022 by 7-9%
The rating agency Expert RA has published a preliminary forecast for the insurance market development in 2022, according to which the market will grow by 7-9% y-o-y, and total GWP approach RUB 2 trillion (~EUR 23 billion*), ASN reports with reference to the rating agency.
17 January 2022POLAND: Europ Assistance Polska sums up the last year
During the 25th year of Europ Assistance's operations in Poland, the company's service volumes returned to pre-pandemic levels, and in some areas, the operator of assistance services handled even more cases than in the period before Covid-19.
17 January 2022LITHUANIA: The fire caused twice as much damage last year
BTA insurance companies estimated that losses caused by fire last year are twice as high as in 2020. In total, over EUR 1 million was paid in 2021.
17 January 2022LITHUANIA: Lietuvos Draudimas: Due to the raging storm, losses have already reached EUR 120 thousand
According to the data of Lietuvos Draudimas, EUR 120 thousand have already been reserved to compensate losses of very strong wind gusts and thunderstorms recorded in Lithuania on Friday. The company's experts say that the numbers will definitely grow - it is expected to reach EUR 300 thousand, delfi.lt reports.
17 January 2022BULGARIA: in 10M2021 the life insurers' business up 34% y-o-y, while the non-life went up 8.1%
In 10M2021 the combined net profit of life insurance companies in Bulgaria increased to BGN 52.5 million (EUR 26.8 million) from BGN 21.9 million in the like period of 2020, SeeNews reports with reference to the country's financial regulator.
17 January 2022Generali announced the resignation of Deputy Vice-Chairman Francesco Gaetano CALTAGIRONE
Assicurazioni Generali informed that the director Francesco Gaetano CALTAGIRONE, Deputy Vice-Chairman, non-independent director and member of the Appointments and Remuneration; Corporate Governance, Social and Environmental Sustainability; Investments; and Strategic Operations Committees, has announced his resignation from the Board on Friday, January 13th.
17 January 2022Bulgaria: Insurers' Q3 net profits expanded by 37% y-o-y to EUR 124 m
Bulgarian insurance market posted aggregate 9 months 2021 net profit of BGN 242.2 million (EUR 123.8 million), 37% more as compared with the snapshot on 30 September 2020 (BGN 176.8 million/EUR 90.4 million), according to the market statistics published on FSC website.
17 January 2022Aviva appoints Shonaid JEMMETT-PAGE as Non-Executive Director
Aviva announced the appointment of Shonaid Jemmett-Page as an Independent Non-Executive Director of the Company with effect from 16 December 2021.
13 January 2022Czech. Rep: A. M. Best confirmed Generali Ceska pojistovna a financial strength rating of "A" with a stable outlook
Before the end of 2021, the international rating agency A. M. Best, reaffirmed a financial strength rating of "A" (excellent) with a stable outlook for Assicurazioni Generali and its main rated subsidiaries, including Generali Ceska pojistovna. The agency also rated the long-term credit rating at "a +" with a stable outlook.
13 January 2022French insurer Axeria IARD entered the Romanian MTPL market
French insurer Axeria IARD, headquartered in Lyon, became active on the Romanian MTPL market on the right of the Freedom of Establishment, being greenlighted by the French and Romanian supervisory authorities: ACPR (Autorite de controle prudentiel et de resolution) and ASF (Autoritatea de Supraveghere Financiara), as 1asig.ro informed here.
13 January 2022Insurance Europe: Major changes to EU product liability rules could undermine insurers' ability to cover certain risks
Insurance Europe has published its response to a questionnaire conducted by the European Commission on adapting liability rules to the digital age and artificial intelligence (AI).
13 January 2022Insurance Europe: EC Retail Investment Strategy should focus on best outcome for retail investors
Insurance Europe has published its response to a call for evidence from the European Securities and Markets Authority (ESMA) on aspects of retail investor protection. This call for evidence will feed into the advice that ESMA will provide to the European Commission on its Retail Investment Strategy (RIS).
13 January 2022Insurance Europe on PRIIPS review: the KID should provide clear information on insurance coverage, guarantees or other capital protection mechanisms
The review of the PRIIPs framework should aim to result in an overall simplification to improve the clarity and usefulness of the Key Information Document (KID). Moreover, any review of the PRIIPs framework should not be rushed, as extensive technical and consumer testing in all countries is needed, Insurance Europe said.
13 January 2022STATISTICS: Macedonian insurers' business expanded by 17.4% y-o-y after Q3
Macedonian insurers posted nine-months 2021 aggregate GWP worth MKD 8.8 billion (~EUR 143 million), 17.4% more y-o-y, according to the market figures published by the Insurance Supervision Agency of Macedonia.
13 January 2022STATISTICS: Cypriot insurers closed the first nine months of 2021 with GWP worth EUR 700 million
The insurance market of Cyprus totaled EUR 701.4 million at the end of September 2021, increasing by almost 5% y-o-y, according to the quarterly data published by The Insurance Association of Cyprus - IAC.
13 January 2022STATISTICS: Latvian market expanded during Q3 by 3.7% y-o-y due to positive rates posted by EU branches
The Latvian insurance market totaled EUR 618.8 million at the end of September 2021, about 3.7% more y-o-y, according to data published by the Financial and Capital Market Commission (FKTK).
13 January 2022RUSSIA: requirements for the minimal charter capital of insurers increased from January 1
From January 1, 2022, requirements for the minimal charter capital of non-life insurers increased from RUB 180 million to RUB 240 million. For life insurers, the minimal amount increased from RUB 310 million to RUB 380 million, for reinsurers - from RUB 520 million to RUB 560 million, ASN reports with reference to the Finmarket portal.
12 January 2022
