News - Insurance
STATISTICS: KOSOVO, 1H2024: significantly higher profitability
Kosovar insurers wrote gross premiums worth EUR 82 million in the first half of 2024, 16.78% more y-o-y. Paid claims reached EUR 35 million, decreasing by 3.3% y-o-y.
18 September 2024STATISTICS: LITHUANIA 1H2024: paid claims grew at a slightly faster pace than GWP
The insurance market of Lithuania totaled EUR 790.6 million at end-June 2024, up by 11% y-o-y, according to the quarterly market figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims for insurance losses worth EUR 341 million, up by 13.25% y-o-y.
18 September 2024STATISTICS: MONTENEGRO 1H2024: substantial growth on the life insurance segment
The insurance market of Montenegro totaled EUR 68.23 million at the end of H1 2024, up by 13.95% y-o-y or by EUR 8.3 million, according to the half-year figures published by the local Insurance Supervision Agency (ISA). Gross written premiums from non-life insurance represent 81.35% of total insurance market - about EUR 55.5 million, up by 12% y-o-y while, while life business GWP was up by 23.11% y-o-y to EUR 12.7 million.
18 September 2024Solvency II: EU insurance rules review a prime chance to unlock investment and increase competitiveness in Europe
The recent publication of the much awaited report on EU competitiveness by Mario Draghi, the former European Central Bank president, has raised important questions around how to close the massive investment and innovation gaps in Europe.
18 September 2024Bosnian insurers in Republika Srpska ask for a 1.5% increase in the MTPL prices
On 5 September, the Executive Board of the Association of Insurance Companies of the Republika Srpska (RS) has requested the RS’s Insurance Agency to increase MTPL insurance premiums by 1.5%, to secure funding for the Protection Fund's central electronic records system.
18 September 2024ARMENIA: The Bureau of Motor Insurers of Armenia again raises the maximum threshold for the European Accident Statement
According to the Bureau of Motor Insurers of Armenia, from September 18, the maximum damage threshold for the European Accident Statement will be increased to AMD 400,000 (~EUR 940) from the previous AMD 200,000, ArmInfo writes.
18 September 2024BELARUS: from January to July, paid claims in the total GWP amounted to 55.8%
For the period from January to July 2024, the insurance market in Belarus amounted to BYN 1,491.5 million (~EUR 0.42 billion), as reported by the Ministry of Finance of the Republic of Belarus. It is noted that the market grew by 16.4% y-o-y.
18 September 2024BULGARIA: 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 2024
