 TOP
NEWS |
Insurance
Europe: IMD 2 must benefit policyholders and be workable for
insurers
by adina.tudor@mxp.ro, 2014-11-13
The final revised text of the Insurance Mediation Directive (IMD
2) should result in a solution that both benefits policyholders and
is not unnecessarily burdensome for the insurance industry, points
out Insurance Europe, the European insurance and reinsurance federation,
in a press release.
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STATISTICS: TURKISH
market ends 3Q with a 6.3% increase in GWP
by vlad.boldijar@mxp.ro, 2014-11-07
At the end of September, the Turkish insurance sector totaled TRY 19 billion
(EUR 6.6 billion), this representing a nominal increase of 6.3% y-o-y, according
to the statistics recently published by the Insurance Association of Turkey -
TSB.
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PZU
3Q2014: MTPL insurance line is one the main sources of decreasing
profitability
by daniela.ghetu@mxp.ro, 2014-11-13
The Polish PZU Group published today its interim financial report
for 3Q2014 announcing GWP of PLN 12.16 billion, fairly equal to the
3Q2013 volume. On the profitability side the Group recorded a 7.3%
y-o-y decrease of the net financial result. Excluding one-off events,
the net result decreased by 0.6% y-o-y, while ROE was 26.4%, down
1.0 pp as compared with 3Q23013.
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STATISTICS: MOLDOVA
3Q2014: Insurance premiums totaled MDL 900 million, while claims
increased by 28%
by olesea.adonev@mxp.ro, 2014-11-10
In the first nine months of the current year, gross premiums written by the 16
insurance companies active on the Moldavian market totaled MDL 899.88 million,
up by 3.31% compared to the same period of 2013, according to the data of the
National Commission for Financial Markets.
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CROATIA
Osiguranje, 3Q2014: EUR 24 million losses and a restructuring program
in course
by daniela.ghetu@mxp.ro, 2014-11-13
CROATIA Osiguranje, one of the most important insurers in the Adriatic
region, ended the first nine months of 2014 with a consolidated loss
after tax and minority shares of HRK 184.2 million (~EUR 24 million).
According to the company's interim report, the negative result was
driven by the decreasing premium income and adjusted value of financial
assets, as well as by the higher provisions for unexpired risks and
the provisions made for severance pays owed to the employees laid
off due to the company's restructuring program.
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TRIGLAV
Group, 3Q2014: Preliminary performance results show a 36% growth
in net profit
by daniela.ghetu@mxp.ro, 2014-11-13
According to the Group's press release of today, in 3Q 2014 the TRIGLAV
Group recorded a 36% y-o-y growth in net profit and booked 2% less
in gross insurance and co-insurance premium. In the reporting period,
net profit of the Triglav Group amounted to EUR 77 million, whereas
premium written totalled EUR 688.6 million.
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SWISS
Re 3Q net income up slightly to USD 3.26 billion
by vlad.boldijar@mxp.ro, 2014-11-11
SWISS Re reported a 14.46% increase in net income to USD 1.23 billion
for the three months to the end of September compared to the same
period of last year, while for January-September 2014, the same indicator
was USD 3.26 billion (vs. USD 3.24 billion in 3Q2013). At the same
time, the value of earned premiums and fee income increased by 11.26%,
to USD 23.42 billion.
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GENERALI,
3Q2014: increasing operating results and optimistic expectations
for year end; full control over GPH to be achieved in January 2015
by daniela.ghetu@mxp.ro, 2014-11-11
Despite the still uncertain macro-economic environment characterised
by persistently low interest rates, the GENERALI Group's operating
result increased to EUR 3.7 billion in 3Q2014, 12.8% up y-o-y, with
a strong upturn in the third quarter, of 20.8% y-o-y.
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ALLIANZ
3Q2014: higher revenues driven by the saving products and higher
volume-driven gross premiums in P&C
by daniela.ghetu@mxp.ro, 2014-11-11
ALLIANZ Group's total revenues amounted to EUR 92.2 billion in the
first 9 months of 2014, an increase of 9.8% y-o-y. A remarkable growth
was recorded in savings products premiums in the Life/Health business
and higher volume-driven gross premiums was also written on the Property-Casualty
business segment.
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ZURICH
reports BOP of USD 3.8 billion in 3Q2014
by vlad.boldijar@mxp.ro, 2014-11-06
For the first nine months of 2014, ZURICH Insurance Group reported
a business operating profit (BOP) of USD 3.8 billion (up 7%) and
net income attributable to shareholders (NIAS) of USD 3.0 billion
- or 3% more compared to the prior year. At the same time, the combined
ratio improved 1.2% y-o-y to 96.6% during the first nine months of
the year.
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SCOR
reported 3Q net income up 25% y-o-y to EUR 377 million
by vlad.boldijar@mxp.ro, 2014-11-06
The Paris-based reinsurer SCOR reported a 24.8% y-o-y increase in
its nine-month net income to EUR 377 million due to " strong
technical results from both Life and P&C", as the company noted in a press release. At the same time, its gross written
premiums were up by 11.2% y-o-y to EUR 8.38 billion "despite unfavorable exchange rates".
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MUNICH
Re net profit up by 17% y-o-y in Q3. The Group reconfirmed the guidance
for FY2014
by vlad.boldijar@mxp.ro, 2014-11-06
Germany's MUNICH Re - the world's biggest reinsurer, reported a consolidated
profit of EUR 2.4 billion for the first nine months of 2014. For
Q3, the Group reported a profit of EUR 738 million (vs. EUR 630 million)
or 17% more y-o-y, while the gross written premiums decreased by
3.6% to EUR 12.1 billion.
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10.3%
increase in net income for HANNOVER Re in 3Q
by vlad.boldijar@mxp.ro, 2014-11-05
The German reinsurer HANNOVER Re reported a 10.3% increase in Group
net income for the third-quarter 2014, to EUR 695.4 million, while
the operating profit (EBIT) rose by 10.7% to EUR 1.09 billion.
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STATISTICS: Azerbaijan
3Q2014: Life insurance continues to be the market leader
by olesea.adonev@mxp.ro, 2014-11-04
In 3Q2014, the insurance market of Azerbaijan totaled AZN 314.13
million, reporting an increase rate of 3.54% in local currency, while
the claims payments amounted to AZN 116.39 million, up by 31.46%,
according to data presented by the Ministry of Finance of the Republic
of Azerbaijan. Taking into account the exchange rate variations,
in European currency, the insurance market increased by 10.18%, to
EUR 315.55 million.
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STATISTICS: Insurance
agencies in FBiH and RS reported a 7.8% growth rate for BOSNIAN market
in 3Q2014
by vlad.boldijar@mxp.ro, 2014-11-12
Based on the figures released by the insurance agencies in the Federation
of Bosnia and Herzegovina and the Srpska Republic (RS), in 3Q2014
the added-up value of gross written premiums by the 24 insurers active
in the two administrative entities that formed Bosnia and Herzegovina
increased to EUR 218 million, or 7.8% more y-o-y.
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| OTHER
NEWS |
| PRESS
CUTTINGS |
|
| CURRENT
REPORTS |
| INTERVIEW |
 Enkeleda
SHEHI
Chairperson
Albanian FSA
According to EUROPA Re, an earthquake with a probability of occurrence
once in 500 years could cause in a country like Albania damages around
EUR 3.5 billion, out of which EUR 2 billion could be the bill to
the households.
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|
| ANALYSIS |
 Why
do foreign insurers leave Russia? May be due to the "profitable" motor insurance?
by olesea.adonev@mxp.ro, 2014-11-04
One after another, foreign insurance companies that operate on the
Russian insurance market decide to give up their retail business,
especially in regions with a high loss ratio on MTPL insurance.
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| STATISTIC
UPDATES |
| EVENTS |
EIOPA Conference
November 19th, 2014
Frankfurt am Main, Germania
Organizer: EIOPA
For details: eiopa.europa.eu
5th Annual Middle East & Africa
Insurance Summit
January 19-20, 2015
Dubai, United Arab Emirates
Organizer: FLEMING Gulf
Media Partner: XPRIMM Publications
For details: finance.fleminggulf.com
African Insurance Forum 2015
February 23-24, 2015
Johannesburg, South Africa
Organizer: FEXTONS
Media Partner: XPRIMM Publications
For details: ins.fextons.com
European Conference on Consumer Protection in
Financial Services
March 12th 2015
Palace of the Parliament, Romania
Organizers: APPA-The Romanian
Association of Insurance Promotion & UNSAR- The National Association of Insurance and Reinsurance Companies in Romania
International Insurance Forum 2015
April 19-20, 2015
Istanbul, Turkey
Pera
Palace Hotel
Organizers: Media XPRIMM and
Istanbul Underwriting Center
Media coverage: XPRIMM
Publications
FIAR 2015 - The International Insurance - Reinsurance
Forum
May 17-21, 2015
Brasov, Romania
Organizer: Media XPRIMM
Media coverage: XPRIMM
Publications
For details: www.fiar.ro |
| POINT
OF VIEW |
 Andres
PIIRSALU
Member of Executive Board
Estonian Insurance Association (EKsL)
Motor Insurance Bureau and Guarantee Fund (LKF)
One of the major challenges was definitely preparation for the new
law on MTPL which will be partially in force from October 1st this
year and fully in force from January 1st 2015.
More |
| ON
THE MOVE |
CertAsig
appointed a new Risk Engineering Manager
by adina.tudor@mxp.ro, 2014-10-31
With an impressive engineering background and over 13 years of experience
in the insurance market, Dragos MINDRUTA joined CertAsig as the new
Risk Engineering Manager, responsible for technical and engineering
surveys related to Performance & Advance
Payment Bonds, CAR and Property insurance policies.
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