News - Insurance
BULGARIA: at the end of June, the assets of the insurance sector rise to EUR 5.5 billion
At the end of June, 2024, the assets managed by insurance companies operating in Bulgaria reached BGN10.82 billion (EUR 5.5 billion), which indicates a 6% increase y-o-y, SeeNews reports referring to the Central Bank’s statement.
18 September 2024HUNGARY: MNB: Compulsory motor vehicle liability insurance rises by 10%
At the end of the 2Q the average MTPL annual premium for passenger cars rose by 10% y-o-y to HUF 57,000 (~EUR 144.44). This also indicates an increase of 1.6% compared to the previous quarter's value, according to the Magyar Nemzeti Bank (MNB), Portfolio.hu reports.
18 September 2024KAZAKHSTAN: compulsory insurance of civil liability of carriers increased by 11.6% in January-July
Compulsory insurance of civil liability of carriers to passengers in Kazakhstan in January-July 2024 amounted to KZT 1.9 billion (~EUR 3.71 million), which is 11.6% more y-o-y. It is noted that a year earlier the segment’s growth was 13.6% (according to calculations by Ranking.kz), Allinsurance.kz writes.
18 September 2024LATVIA: LAA: Insurers have already covered 68% of reported July storm losses
The insurers have already paid out EUR 13 million for the damage caused by the storm at the end of July, which includes compensation for the damage caused to property, agricultural crops and vehicles, according to the data collected by the Latvian Insurers Association (LAA) as of September 11.
18 September 2024UKRAINE: In July, MTIBU's regulatory payments increased by 17.5%
(Motor Transport Insurance Bureau of Ukraine) MTIBU paid UAH 44.9 million (~EUR 1.02 million) from the Bureau's Victims Protection Fund in July, which is 17.5% more than in the previous period. At the same time, the number of regulatory payments increased by 12.2% to 695, Forinsurer writes.
18 September 2024UZBEKISTAN: State health insurance system to be introduced from October 1
The state health insurance system will be introduced from October 1 in Tashkent and the Syrdarya region, and from January 1, 2025 — in Karakalpakstan, Gazeta.uz reports.
18 September 2024RVS 2024: Hannover Re expects demand for high-quality reinsurance protection strongly increasing
Hannover Re anticipates prices and conditions to remain on a sustained stable level for the treaty renewals in property and casualty reinsurance as at 1 January 2025 and anticipates a balance of supply and demand in most markets.
11 September 2024RVS 2024: disciplined underwriting is the basis for selective growth at Munich Re
The reinsurance market has achieved a sensible balance in an environment characterized by high demand, Munci Re representatives said at the “Rendez-Vous de Septembre” industry event in Monte Carlo.
11 September 2024STATISTICS: GEORGIA, 1H2024: health insurance generates 48% of all GWP
According to the Georgian Insurance Supervision Service, at the end of 1H2024, the insurance market grew by 20.44%, amounting to GEL 711.77 million (EUR 236.61 million).
11 September 2024Draghi competitiveness report: insurers back the need to prioritize EU competitiveness
Europe's insurance industry welcomes Mario Draghi's report, backing the need to prioritize EU competitiveness. The industry supports the report's call to increase the flow of investments and savings across the EU, ensure Europe’s ambitious decarbonization plans are part of a larger coherent plan, and reduce regulatory burden.
11 September 20243rd International Insurance Summit & Türkiye Rendezvous and XVI International Istanbul Insurance Conference, Istanbul; online registration open
Istanbul will host on 1-2 October the 3rd International Insurance Summit & Türkiye Rendezvous and XVI International Istanbul Insurance Conference.
11 September 2024The Institute of Actuaries in Belgium (IA|BE) organizes the first joint colloquium of the sections of the International Association of Actuaries
The first-ever joint conference of all sections of the International Actuarial Association (IAA) will take place between September 22- 25, 2024, organized by the Institute of Actuaries in Belgium (IA|BE), in Brussels.
11 September 2024Envelop launches services business Envelop Risk Solutions
Envelop Risk, the data-driven cyber reinsurance and analytics specialist, launched Envelop Risk Solutions, its services business offering a spectrum of support for insurers and reinsurers seeking enhanced cyber performance.
11 September 2024CZECHIA: Accident Portal: Truck accidents make up 18% of all collisions over the past fourteen years
Trucks make up a significant part of the cars that move on roads. However, this type of transport is also involved to a considerable extent in accidents on Czech roads.
11 September 2024GEORGIA: Compulsory civil liability insurance of vehicle owners to contribute to the insurance sector’s development
The Georgian government is going to initiate a bill providing for compulsory civil liability insurance of vehicle owners, Business Georgia writes.
11 September 2024LATVIA: LAA: In a week, July storm paid claims increased by EUR 2 million, reaching a total of EUR 9 million
During the week, the amount of insurance indemnities paid out to clients affected by the storm at the end of July increased by EUR 2 million, reaching a total of EUR 9 million paid out to clients.
11 September 2024POLAND: in the first half of 2024, MTPL market grows by one tenth
In the first half of 2024 motor insurers in Poland generated a total of PLN 8.85 billion (~EUR 2.05 billion) in premiums, which is 10.42% more y-o-y, the analysis of the Insurance Guarantee Fund (UFG) show, Gazeta Ubezpieczeniowa (Insurance Gazette) writes.
11 September 2024UZBEKISTAN: GROSS records a fourfold increase in reinsurance volumes in 1H2024
GROSS insurance company is expanding its partnerships with global insurance companies and brokers. Currently, GROSS cooperates with 79 countries in the global insurance market. In 1H2024, the volume of reinsurance accepted by GROSS from foreign companies increased to 392% y-o-y, Gazeta.uz writes.
11 September 2024BMS bolsters leadership team with new group chief broking officer
BMS Group, the independent specialist insurance and reinsurance broker, appointed Richard Dudley as Group Chief Broking Officer. Based in London, Dudley will report to BMS Group’s CEO, Nick Cook.
11 September 2024RVS 2024: Carter Perry Bailey reviews last year’s legacy of relevant re/insurance related cases and legislation
The previous year has seen several insurance related legal issues arise in relation to war and political risk wordings, as emphasized in Carter Perry Bailey’s REINSURANCE ROUND-UP September 2024, presented in Monte Carlo by representatives of the specialist law firm.
10 September 2024
