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NEWS |
Croatian insurance market's watchdog approved the merger the VIG units, WIENER and ERSTE
by Daniela GHETU, 2018-04-26
The Croatian Financial Services Supervisory Agency (HANFA) approved today the merger of the Croatian subsidiary of Vienna Insurance Group (VIG), Wiener Insurance, with Erste VIG, in accordance with the Merger Agreement dated 6 February 2018, the authority's website reads.
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STATISTICS: Hungary FY2017: Of 25 active insurers, only one reported losses, Central Bank said
by Vlad BOLDIJAR, 2018-04-26
Hungarian 25 insurers reported FY2017 aggregate GWP up by 7% y-o-y to HUF 948.1 billion (EUR 3 billion), according to the market data published by the National Bank of Hungary (MNB).
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STATISTICS: Slovakia, FY2017: insurance market has grown two times faster than the economy
by Vlad BOLDIJAR, 2018-04-26
Last year, the growth rate of the local insurance market (+8.56%) was almost double that of the advance of the economy (+4.69%), thus the calculated indicators as the insurance penetration degree (2.51%) and the insurance density (EUR 393 per capita) significantly evolved as compared to FY2016.
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Bank of Lithuania: Over two-thirds of settled disputes between consumers and providers were in the field of insurance
by Vlad BOLDIJAR, 2018-04-25
In 2017 the Bank of Lithuania settled more than 500 disputes between consumers and providers of financial services. Most disagreement (over two-thirds) was in the field of insurance, while disputes with banks accounted for a fifth.
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TRIGLAV Group to enter pension insurance market in Croatia
by Vlad BOLDIJAR, 2018-04-25
Slovenia's largest insurance group - TRIGLAV said it is buying a majority stake in RAIFFEISEN Bank's Croatian pension business, RAIFFEISEN Mirovinsko osiguravajuce drustvo.
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Russia: All-Russian Insurance Association (ARIA) asks the government to stop the campaign against foreign reinsurers
by Marina MAGNAVAL, 2018-04-25
ARIA applied in writing to the Prime Minister, Dmitry MEDVEDEV, Chairman of the Central Bank, Elvira NABIULLINA, as well as the State Duma, Ministry of economic development and Ministry of Finance, requesting to pay attention to the campaign of Duma members Vyacheslav LYSAKOV and Sergey SHARGUNOV against the foreign reinsurers.
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The President PUTIN signed the law on rehabilitation of Russian insurers
by Marina MAGNAVAL, 2018-04-25
On April 23, 2018 the President, Vladimir PUTIN signed the law on rehabilitation of insurance companies which puts into effect insurers' rehabilitation procedure from the resources of the Bank of Russia, similar to the rehabilitation of banks.
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KAZAKHSTAN: the market is expecting growth in 2018 based on March results
by Marina MAGNAVAL, 2018-04-26
According to results of March the volume of insurers' net profit reached almost KZT 13 billion (EUR 33.14 million), a year ago this figure amounted to KZT 1 billion (EUR 2.96 million)* - said analytical portal about business and finance Finprom.kz.
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Azerbaijani insurance market increased by almost 30% during the 1st quarter
by Marina MAGNAVAL, 2018-04-25
In the 1st quarter of 2018 insurance companies of Azerbaijan generated GWP up by 28.2% y-o-y, - said the official report of the Financial Market Supervisory Authority of Azerbaijan. Paid claims of the same period slightly exceeded the last year's figure.
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AZ Re: EUR 24.81 million GWP in 2017 and a 43% share of all outgoing reinsurance in Azerbaijan
by Marina MAGNAVAL, 2018-04-20
In 2017 AzRe generated AZN 50.4 million (~EUR 24.81 million) of GWP.
Total income of the reinsurer in 2017 was AZN 54.6 million (~EUR 26.88
million) and total expenses amounted to AZN 28.8 million (~EUR 14.18
million).
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Lloyd's appoints L Marks and The Boston Consulting Group to collaborate on Lloyd's Lab
by Daniela GHETU, 2018-04-25
Lloyd's has appointed L Marks and The Boston Consulting Group (BCG) to support the set-up and operation of the Lloyd's Lab set to launch in the second half of 2018. The appointment is subject to agreement of contractual terms between the parties.
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A.M. Best: stable outlook on the Italian non-life insurance market; health and Cat insurance potential growth drivers
by Daniela GHETU, 2018-04-25
A.M. Best has a stable outlook on the Italian non-life insurance market, expecting the sector's good record of technical profitability to be maintained in the medium term. The agency estimates that over the period 2012 to 2016 inclusive, its net combined ratio averaged 94%, which compares favorably with that of other European countries.
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Swiss Re Group: solvency of the Group and its Swiss-regulated re/insurance entities very strong
by Daniela GHETU, 2018-04-26
Swiss Re published on April 24 the 2017 Financial Condition Report for the Swiss Re Group and regulated re/insurance legal entities domiciled in Switzerland, for the reporting period ended 31 December 2017.
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MUNICH Re expects a Q1 result of over EUR 800 million and maintains its guidance for the year-end result
by Daniela GHETU, 2018-04-25
MUNICH Re projects a consolidated result of over EUR 800 million for 1Q2018, subject to the outcome of the ongoing closing activities for the Q1 consolidated financial statements. The main reason for this good result is low major-loss expenditure in reinsurance.
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SOMPO International got green light for its EU subsidiary
by Daniela GHETU, 2018-04-25
SOMPO International Holdings Ltd. (SI) announced on April 23 that it has received the regulatory approvals from the Ministry of Finance of Luxembourg to establish a new subsidiary, SI Insurance (Europe), SA (SIIE), which will become operational later in 2018.
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AIG authorizes two new entities in the UK and Luxembourg in preparation for Brexit
by Vlad BOLDIJAR, 2018-04-25
American International Group (AIG) announced the authorization of new insurance companies in the United Kingdom (UK) and Luxembourg "that will see all business transferred to the new entities ahead of the UK leaving the European Union (EU)".
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MUNICH Re to pay out EUR 1.3 billion to shareholders
by Vlad BOLDIJAR, 2018-04-26
Reinsurer MUNICH Re announced The Annual General Meeting approved an unchanged dividend of EUR 8.60 per share to be paid out for the 2017 financial year. The overall dividend payout amounts to EUR 1.3 billion.
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SCOR reports 18.6% income growth in Q1
by Vlad BOLDIJAR, 2018-04-26
French reinsurer SCOR has reported a strong start to 2018, with significant growth rates in GWP and net income during the first three months.
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AON Iberia acquires a Spanish provider of loyalty & wellbeing programs
by Vlad BOLDIJAR, 2018-04-26
AON Iberia, part of global professional services firm AON has announced that it has acquired the Spanish firm INSPIRING BENEFITS.
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Renowned speakers gather in June in Nairobi to chart the way forward in insurance
by Adina TUDOR, 2018-04-20
The 8thAnnual Insurance and Reinsurance Conference, themed "Innovate to Capture Growth Potential", taking place in Nairobi, aims to explore opportunities that will enhance insurance penetration levels in Africa.
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EVENT |
Why should you participate at FIAR 2018?
by Adina TUDOR, 2018-04-25
With an exclusive list of professional speakers, 7 conferences and workshops analyzing current trends and issues on the re/insurance markets, as well as hundreds of bilateral meetings and networking opportunities, FIAR 2018 represents a key event on the business agenda.
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