STATISTICS: AZERBAIJAN, FY2017: life insurance is growing rapidly, maintaining the market on a positive trend
by Daniela GHETU, 2018-02-01
Azeri insurers ended 2017 with GWP worth AZN 556.8 million (EUR 274.2 million), 14.5% up y-o-y in local currency. Given the continuous devaluation of the Azeri Manat, the market’s premium production maintained a positive trend also denominated in European currency, but at a significantly lower pace (5.2% y-o-y). More
STATISTICS: KAZAKHSTAN, FY2017: insurers reported about EUR 144 million in FY net profit
by Vlad BOLDIJAR, 2018-02-01
The Kazakh insurance market totaled KZT 370.17 billion (about EUR 930 million) in 2017 up by 3.72% than a year before, as showed by the year-end figures published by NBK. More
MONTENEGRO - two new players on the market for supplementary health insurance
by Daniela GHETU, 2018-02-01
Montenegrin insurers Sava Re and Lovcen osiguranje are entering the market of supplementary health insurance, raising the number of local providers to four, osiguranje.hr wrote. More
US-based UNUM to acquire Polish life insurer PRAMERICA Zycie
by Vlad BOLDIJAR, 2018-02-01
UNUM, a US-based financial protection benefits provider, has agreed to acquire Polish life insurer PRAMERICA Zycie TuiR from a subsidiary of financial services firm PRUDENTIAL FINANCIAL. More
Thomas BUBERL, AXA: climate change had become a reality for the insurance industry
by Vlad BOLDIJAR, 2018-02-01
Thomas BUBERL, the head of global insurer AXA said on a panel at the World Economic Forum's annual meeting in Davos, Switzerland, that climate change had become a reality for the insurance industry. More
Russia: Travel insurance products increasingly popular
by Daniela GHETU, 2018-01-31
82% of Russians planning to travel abroad on holidays take out health and property insurance by purchasing Travelling abroad policies (TAP), an independent research conducted by the MAGRAM Market Research agency and Ingosstrakh Insurance Company found out. More
GERMANY: 2017 results above expectations, stable evolution forecasted for 2018
by Daniela GHETU, 2018-02-01
The German insurance sector exceeded its own forecasts in 2017 and remains cautiously optimistic about 2018. Overall, premium income across all three lines amounted to EUR 197.7 billion (+1.7%) in 2017 and is likely to be up by 1.3% this year, Wolfgang WEILER, President of the German Insurance Association (GDV) said. More
XXII Annual Reinsurance Conference "Russian Reinsurance Market - Model Change" announced for 11-12 April, in Moscow?
The XXII Annual Reinsurance Conference "Russian Reinsurance Market - Model Change" will take place in Moscow, on 11-12 April, 2018, the organizers have announced. The event will comprise plenary sessions, open discussions and workshops.?More
GENERALI prepared to attack the growth program by the end of the year
by Daniela GHETU, 2018-02-01
After completing its turnaround plan, by the end of 2018, GENERALI will launch its next development program, switching to "a new phase, of expansion, a growth phase," the Italian Group's CEO, Philippe DONNET told Bloomberg Europe. More
MMC, FY2017: 6% increase in revenues, in an active M&A year?
Marsh & McLennan Companies recorded in 2017 a 6% increase in revenues, to USD 14 billion. Risk & Insurance Services contribution to this total was of USD 2 billion, the company announced in a press conference today.?More
The Geneva Association points to the role of insurers to address climate change
The insurance industry is contributing significantly to building socio-economic resilience to climate change and supporting the transition to a low-carbon economy in their role as risk management experts and investors, although a number of challenges are hindering the industry's efforts to scale up its contribution, according to a new research report from The Geneva Association. More
Windstorm Herwart Property Loss Estimate by PERILS raised to USD 315.1 million
by Daniela GHETU, 2018-01-31
Perils AG raised its estimate for insured property losses from Windstorm Herwart to EUR 255 million (USD 315.1 million) from an initial estimate of EUR 252 million. More
The future of the European private pensions, debated at the "PEPP - A true Pensions Product?" event
by Adina TUDOR, 2018-01-30
Europe is facing an unprecedented demographic challenge: for every retired person in 2060, there will only be two people of working age, compared to four today. Thus, social and welfare systems are already coming under pressure. Part of the answer lies in occupational and personal pension schemes complementing state-based pensions. More
FITCH: IFRS 17 may put up cost of capital for european insurers
IFRS?17, the new international accounting standard for insurance contracts from 2021, could temporarily increase the cost of capital for European insurers while investors familiarise themselves with the new standard, FITCH Ratings said in a press release. More
FRISS: Solving and preventing your own damage claims: The Holy Grail??
One of the current trends in the insurance industry, according to FRISS observations, is the effort put by insurers into implementing solutions that allow a kind of self-processing of damage claims with minimal effort, thus replacing the human interaction with the technology.?More
A.M. Best assigns Credit Ratings to Mapfre Espana, Compania de Seguros y Reaseguros S.A.
A.M. Best?has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of "a" to?Mapfre Espana, Compania de Seguros y Reaseguros S.A.?(Mapfre Espana) (Spain). The outlook assigned to these Credit Ratings (ratings) is stable. More
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