 TOP NEWS |
The 9 GDPR checkpoints according InsuranceEurope
by Daniela GHETU, 2018-05-24
GDPR is around the corner, InsuranceEurope says, drawing attention to the fact that it is the time for final checks by insurers. The association has publi9shed on its own website an overview of insurers' obligations under the General Data Protection Regulation.
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VIG, 1Q2018: improved results driven by the group's large markets, Czechia, Poland and Romania
by Daniela GHETU, 2018-05-23
Czechia, Poland and Romania, VIENNA Insurance Group's largest markets in the CEE were the main drivers of its good 1Q2018 results. VIG targets for year-end GWP of about EUR 9.5 billion and profit before taxes of EUR 450 - 470 million.
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GENERALI extends its presence in Poland by acquiring the CONCORDIA companies; premium income from Austria, CEE and Russia Region to exceed EUR 6.4 billion
by Daniela GHETU, 2018-05-24
Generali is enhancing its footprint in the CEE by acquiring the full control of the Polish insurers Concordia Capital (life insurance) and Concordia Polska TUW (non-life insurance) from their German shareholders Concordia Versicherung and Vereinigte Hagelversicherung.
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POLAND: new increases in the MTPL tariffs expected after a recent Supreme Court ruling
by Daniela GHETU, 2018-05-24
Polish insurance market may witness a new round of increasing MTPL tariffs following a recent Supreme Court ruling, asking insurers to pay compensations for permanent disability not also to the victim, but also to his/hers close relatives.
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STATISTICS: SLOVENIA 1Q2018: positive trend in underwriting and new entries in the top segment of the market
by Daniela GHETU, 2018-05-24
Slovenian insurers ended 1Q2018 with total GWP worth EUR 643 million, 5.85% up y-o-y. On the paid claims side, the total market expenses wet up by 10.2%, to EUR 411.7 million, driven by the higher compensations paid for Motor Hull and property insurance.
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UPDATE: GENERALI CEE is negotiating the acquisition of ADRIATIC Slovenica
by Daniela GHETU, 2018-05-24
According to the KD Group Slovenian unit's website, the purchase price of ADRIATIC Slovenica will be of EUR 245 million. On 23 May 2018, the company concluded a contract with Generali CEE Holding, BV on the sale of a 100% stake in the Slovenian insurer.
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SAVA Re Group, 1Q2018: premiums up 4.4% and pre-tax profit of EUR 6.6 million
by Daniela GHETU, 2018-05-24
SAVA Re Group saw high premium growth both in Slovenia and in its international markets in 1Q2018. GWP rose by 4.4% y-o-y to EUR 167.0 million. The Group wrote 32.1% of the target premium income for the full year 2018.
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TRIGLAV Group reported Q1 profitable operations and GWP growth in all markets
by Vlad BOLDIJAR, 2018-05-24
In Q1 2018, Slovene TRIGLAV Group posted a consolidated profit before tax of EUR 27.5 million or 8% more than in the same period last year, while the net profit was up by 5% y-o-y to EUR 23.3 million.
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STATISTICS: ALBANIA, 1Q2018: Slight increase in GWP and number of policies
by Vlad BOLDIJAR, 2018-05-24
The Albanian insurance market reached over ALL 3.55 billion (EUR 27.2 million) during Q1 2018, or 2.53% more y-o-y, according to the quarterly statistics published by the local Financial Supervisory Authority.
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STATISTICS: MONTENEGRO 1Q2018: GWP rose by 5.1% y-o-y while the value of paid claims grew by 16.2%
by Vlad BOLDIJAR, 2018-05-24
The Montenegrin insurance market increased by 5.1% y-o-y during Q1 2018 to EUR 18.4 million, while the aggregate value of paid claims and indemnities was up by 16.2% y-o-y to EUR 9 million, as data from the Insurance Supervisions Agency shows.
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After a 21.7% GWP growth in 2017, Gothaer's Romanian unit reports 37% increase in premiums in 1Q2018
by Adina TUDOR, 2018-05-23
For Gothaer Asigurari Reasigurari, 2017 meant a two-digit growth y-o-y increase in GWP (21.7%), to about RON 119 million. Related to the Romanian non-MTPL non-life insurance market's trends (up by 8.2%)*, this result confirms the solid development of Gothaer in Romania.
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Italian ARCHIMEDE debuts among the Top 10 insurtech initiatives with USD 55 million funding
by Redactia, 2018-05-23
Successfully closed the IPO of Archimede, the new SPAC promoted by Andrea BATTISTA, Matteo CARBONE, Gianpiero ROSMARINI aimed at the development of a new insurance carrier - independent, multichannel and focused on protection business.
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MUNICH Re: Global insurance industry will double over the next 12 years
by Vlad BOLDIJAR, 2018-05-24
The global insurance industry will grow more strongly than the global economy in 2018 and 2019, as global reinsurer MUNICH Re recently forecasted. In 2030, the global insurance market is expected to reach a volume of EUR 7.9 trillion.
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Lloyd's Brussels subsidiary granted regulatory approval
by Daniela GHETU, 2018-05-24
Lloyd's announced its Brussels unit has received license approval from the National Bank of Belgium. Vincent VANDENDAEL will take up the post of CEO of the newly established Lloyd's Brussels in addition to his role as Lloyd's CCO.
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STATISTICS: Belarus 1Q2018: y-o-y GWP growth rate of 18%, voluntary classes are increasing
by Marina MAGNAVAL, 2018-05-24
During Q1 2018 GWP of Belarusian insurers from direct insurance and co-insurance amounted to BYN 299.6 million. GWP growth rate for the first 3 months compared to the same period a year ago was 18%.
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STATISTICS: MOLDOVA, 1Q2018: the local market's growth after 3 months amounted to 7%
by Marina MAGNAVAL, 2018-05-23
In 1Q2018 the Moldovan market generated MDL 332.1 million, which is 7.01% more y-o-y in local currency, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF).
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Russia: FITCH affirms RNRC IFS at BBB-, positive outlook
by Marina MAGNAVAL, 2018-05-18
FITCH Ratings has affirmed RNRC (Russian National Reinsurance Company) Insurer Financial Strength (IFS) rating at 'BBB-'with a Positive Outlook.
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AZERBAIJAN: mandatory travel insurance under consideration
by Marina MAGNAVAL, 2018-05-23
Association of insurers of Azerbaijan is planning introduction of mandatory travel insurance for arriving tourists, informed the Chairman of the Association, Mustafa ABBASBEILI.
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Willis becomes first licensed foreign broker to operate as domestic broker in China
by Vlad BOLDIJAR, 2018-05-24
The global insurance broker WTW - Willis Towers Watson said that China's Banking Insurance Regulatory Commission (CBIRC) has approved Willis Insurance Brokers to be the first fully licensed foreign broker to transact all insurance business in China.
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ALLIANZ completes sale of part of its life insurance portfolio in Taiwan to CHINA Life
by Vlad BOLDIJAR, 2018-05-24
ALLIANZ has announced that it has completed the sale of part of its traditional life insurance portfolio in Taiwan to CHINA Life Insurance Co.
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| TOP
EVENT |
| MARKETS AND TRENDS |
Challenges and opportunities of agricultural risks transfer
by Oleg DORONCEANU, 2018-05-23
Despite the rapid movement of the modern world towards digitalization, high technology and process sophistication, the longtime existing agricultural industry remains important for satisfying the primary needs of humanity in food and basic material. In parallel with all technological development people are returning to forgotten principles of sustainable nutrition. Can agricultural industry support this trend? Which challenges agricultural industry experience itself in the era of climate change? We have discussed these and other questions with Olena SOSENKO - International expert in agricultural risk management.
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 Andreas BRANDSTETTER named President of Insurance Europe
by Adina TUDOR, 2018-05-24
Andreas BRANDSTETTER, the CEO and Chairman of Austria's UNIQA Insurance Group, has been elected President of Insurance Europe, the European insurance and reinsurance federation, for a term of three years. He will give a keynote speech today, 24 May, at the federation's 10th International Conference.
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| INTERVIEW |
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 Hannah GRANT, Head of Secretariat, Secretariat of the Access to Insurance Initiative
by Alexandru CIUNCAN, 2018-05-24
The speed of change has no historical precedent. Change is occurring at an exponential, rather than linear pace. When it comes to greater access to insurance, these are exciting and unprecedented times. We would not describe inclusive insurance as a challenge to classical insurance per se. The ambition to include new people in the market or to cover new risks is often a driver for innovation. We see insurance markets are becoming more responsive and innovative. However, it should always be guaranteed that innovation and change is to the benefit of the policyholders.
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| STATISTIC
UPDATES |
| PARTNER
EVENTS |
Strategic Risk Management for Transformation in Insurance
24-25 May 2018, London, UK
The 32nd International Insurance Tennis Tournament
1-3 June, 2018, Istanbul, Turkey
XVI Russian Insurance Summit
6 June 2018, Saint Petersburg, Russian Federation
The Customer Experiences In Financial Services Conference
27 June 2018, London, UK
2nd Edition IFRS 17 Implementation in Life Insurance
25-27 June 2018, London, UK
8th Bancassurance Europe Summit 2018
26-29 June 2018, London, UK
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| CURRENT
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| PRESS
CUTTINGS |
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