North Macedonian non-life insurer Halk Osiguruvanje, owned by Halk Banka, the local arm of Turkish state-owned lender Halk Bankasi, raised EUR 3 million in a capital increase via a new share issue, SeeNews informed.
Insurance companies paid EUR 10.2 million of remuneration to their intermediaries. Through insurance intermediaries (insurance brokerage companies, insurance companies and insurance agents), insureds paid EUR 42 million for non-life insurance in the first six months of 2021, the Insurance Supervision Agency (ISA) said.
The Q3 2021 gross written premiums of Croatian insurers increased by 12.15% y-o-y to HRK 9.02 billion (EUR 1.20 billion), while gross paid claims by insurers totaled HRK 5.19 billion, up by 9% y-o-y according to the quarterly figures published by the Croatian Insurance Bureau - CIB.
Global commercial insurance prices increased 15% in the third quarter of 2021, according to the Global Insurance Market Index released by the insurance broker Marsh, the same rate of increase recorded in the previous quarter.
Global re/insurance broker MMC posted Q3 2021 aggregate revenue of USD 4.6 billion, an increase of 16% compared with the third quarter of 2020. Q3 operating income was USD 740 million, an increase of 37% from the prior year while net income attributable to the Company was USD 537 million, or USD 1.05 per diluted share, compared with USD 0.62 in the third quarter of 2020.
The study conducted by the Ministry of Economics on the changes in labor and construction material costs in 2021-2025 indicates that construction costs will increase by a record 6.6% in 2021 compared to 2020, reaching the highest increase in 9 years.
From January to September 2021, GWP of A-Qroup, one of the top ten market leaders in Azerbaijan, amounted to AZN 10.41 million (~EUR 5.29 million*), which is almost 30% more than in the same period in 2020, Trendreports.
From January to September 2021, the volume of taxes paid by Armenian insurers amounted to AMD 2.1 billion (~EUR 3.73 million*), which is 31.3% more y-o-y, ArmInfo reports. Of this amount, AMD 1.8 billion fell on direct taxes (+28.6%).
S&P Global Ratings has improved the financial strength rating and the credit rating of ROSGOSSTRAKH to BB +, with a stable outlook on the ratings. Since October 2020, the oldest insurer in Russia (the company celebrates its 100th anniversary in 2021) has had BB ratings. In April 2021, the agency improved its rating outlook to positive, the insurer said in a press release.
Net profit of the Renaissance insurance group for 9 months of 2021 increased by 3.4 times y-o-y, exceeding RUB 7 billion (~EUR 83 million*), ASN reports referring the insurer's statement (under the OSBU).
GWP by insurers in the 17 CEE insurance markets wrote gross premiums worth EUR 20.75 billion, 8.3% up y-o-y, property and motor insurance lines being the main growth drivers. Paid claims decreased by almost 5% y-o-y at regional level, to EUR 11.34 billion, with property insurance lines being again the trend setter.
GWP in the 17 CEE markets under the scope of the latest XPRIMM Insurance Report reached EUR 20.75 billion at the end of June 2021, 8.30% more y-o-y and exceeding by about EUR 900 the volume in 1H 2019, the year before the Covid crisis. Except for Estonia and Slovakia, insurance business in all CEE markets reached volume superior to 1H2019.
At the beginning of summer 2021, Amodo and UNIQA presented the first Full Comprehensive insurance in Croatia that can be activated or deactivated as needed, enabling users to contract and use it via a smartphone application. To know more about it, join the webinar where representatives of the two companies will talk about game-changing insurtech solutions!
Armen MKHITARYAN has been appointed Director for Partnership Sales Development at SberStrakhovanie Life. Armen's main tasks are building and developing partner sales and coordinating marketing activities.
The COVID-19 pandemic had presented new opportunities for innovative re/insurance solutions but added that the sector wasn't addressing emerging risks and climate change quickly enough, Peter ZAFFINO, President & CEO of AIG stated for Aon's fireside chat this week.