News - Insurance
STATISTICS: POLAND, 1Q 2024: insurance business remained profitable despite the steep growth in claims expenses on the motor lines
Gross premiums written by Polish insurers in Q1 2024 reached EUR 5.1 billion (PLN 21.94 billion), which is 18.55% more y-o-y, in European currency. This very high growth rate is an effect of the appreciation of about 9% y-o-y of the Polish zloty. Calculated in Polich currency, the market growth was of slightly above 9%.
21 August 2024STATISTICS: ARMENIA, 1H2024: net profit decreased by 65% y-o-y
In the first half of 2024 the insurance sector of Armenia decreased by 6.32% to AMD 38.67 billion (EUR 93.04 million), according to the data of the Financial Rating of Insurance Companies provided to ArmInfo. At the same time, paid claims skyrocketed by 31.65% to AMD 20.55 billion (EUR 49.44 million).
21 August 2024Insurance: A Unique Sector
Insurers play a unique role among financial services industries. Their ability to manage risk protects people, organisations and global economies from catastrophes that would otherwise be devastating.
21 August 2024ESTONIA: In the first half of the year, motor insurers paid out EUR 41 million
In Estonia in the first half of this year, insurers compensated motor insurance losses in the amount of EUR 41 million, which is 13% more y-o-y. According to the statistics of the Estonian Traffic Fund (LKF), the number of motor insurance claims increased by 3%, reaching 17,000 cases.
21 August 2024KAZAKHSTAN: Life insurers' net profit in 1Q fell by almost 43% y-o-y
In the first quarter of this year, life insurance in Kazakhstan increased by 26% y-o-y, while paid claims jumped by 64% at once, Allinsurance.kz reports with a reference to the National Bank’s data.
21 August 2024KAZAKHSTAN: Despite impressive growth in 2023, Motor Hull covers no more than 5% of the country's vehicle fleet
As a result of the severe hailstorm that occurred in Astana in early August, at least 5,000 vehicles were damaged, according to preliminary estimates from Eurasia’s (the market leader) specialists.
21 August 2024KYRGYZSTAN: significant growth observed in compulsory home insurance against fire and natural disasters
Over the past three years, there has been a significant increase in both GWP and the number of concluded contracts in compulsory home insurance against fire and natural disasters, the Service for regulation and supervision of the financial market reports.
21 August 2024LATVIA: LAA: Insurers have received July storm claims for over EUR 17 million
Due to the storm and rains at the end of July, insurers have so far received 8,366 claims for a total of EUR 17.2 million. At that EUR 4.2 million have already been paid out, settling 2,864 insurance cases, according to data collected by the Association of Latvian Insurers (LAA) as of August 14.
21 August 2024UKRAINE: in 1H2024, the amount of Green Card paid claims increased by 19% y-o-y
In January-June 2024, the number of claims involving Ukrainian drivers abroad under Green Card policies increased by 12.8% y-o-y and reached 8,000 cases, Forinsurer writes with reference to the MTIBU (Motor (Transport) Insurance Bureau of Ukraine).
21 August 2024BELARUS: From October 1, 2024, the Russian MTPL policy to be valid in Belarus
From October 1, 2024, the Russian MTPL policy will be valid in Belarus, as announced by Russian Prime Minister Mikhail Mishustin, BELTA reports.
21 August 2024STATISTICS: AZERBAIJAN, 1H2024: life insurance generates almost 56% of the market premium portfolio
The insurance market of Azerbaijan ended the first half of 2024 with a growth of 11.74% y-o-y, amounting to AZN 725.16 million (EUR 399.10 million). At the same time, paid claims jumped by 58.48% to AZN 356.63 million (EUR 196.28 million), according to the data published by the National Bank.
15 August 2024KAZAKHSTAN: Life insurers’ net profit in 1Q fell by almost 43% y-o-y
In the first quarter of this year, life insurance in Kazakhstan increased by 26% y-o-y, while paid claims jumped by 64% at once, Allinsurance.kz reports with a reference to the National Bank’s data.
15 August 2024KYRGYZSTAN: significant growth observed in compulsory home insurance against fire and natural disasters
Over the past three years, there has been a significant increase in both GWP and the number of concluded contracts in compulsory home insurance against fire and natural disasters, the Service for regulation and supervision of the financial market reports.
15 August 2024ARMENIA: a new product introduced on the insurance market
In Armenia, Ingo insurance company has introduced a completely new product for the Armenian financial market – income protection insurance, ArmInfo reports.
15 August 2024MOLDOVA: in 1Q2024, liquid assets accounted for 59% of total assets of insurance companies
At the end of the first quarter of 2024, total assets of insurance companies in Moldova exceeded MDL 5 billion (~EUR 0.25 billion), which is MDL 58.3 million, or 1.2% more compared to the end of the previous year, bizlaw.md wrote.
15 August 2024NORTH MACEDONIA: Over 350,000 vehicles insured in the first half of the year
In the first half of the year vehicle owners invested EUR 43.1 million in mandatory motor liability insurance and green card policies. Citizens and companies paid EUR 10.2 million during the period for green card policies, the Insurance Supervision Agency (ASO) informed.
15 August 2024UZBEKISTAN: On August 1, electronic registration and issuance of compulsory insurance contracts was launched
The National Agency for Prospective Projects (NAPP) of the Republic of Uzbekistan reported that from August 1, 2024, electronic registration of insurance contracts, as well as issuance of insurance policies for four types of compulsory insurance, was launched through the portal of the Unified Information System service.e-osgo.uz, the agency's website says.
15 August 2024Bosnia and Herzegovina: The Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina accepted as a member of the IAIS
The Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina was accepted as a member of the International Association of Insurance Supervisors (IAIS), which is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world’s insurance premiums.
15 August 2024Croatia osiguranje, 1H2024: continued growth of digital business and expansion of the polyclinic network
Croatia osiguranje, part of the Adris Group, reported in 1H2024 a consolidated income from insurance sales, including regional branches, of EUR 251 million, which is 14% more y-o-y. The consolidated net profit reached EUR 33.6 million, 10% up y-o-y, the Group announced.
6 August 2024Romania: improving national coverage rate in the mandatory housing insurance system
By the end of July, the national coverage rate in the Romanian mandatory housing insurance system exceeded 23%, PAID Romania (the Pool of Insurance Against Natural Disasters) reported. The result comes after a long period when the indicator’s value did not exceed 20%.
6 August 2024
