 TOP NEWS |
VIG to increase its presence in Poland by acquiring the local unit of GOTHAER
by Vlad BOLDIJAR, 2018-06-07
Austrian VIG said is acquiring 100% of the shares of Polish non-life insurer GOTHAER Towarzystwo Ubezpieczen (GOTHAER TU). The purchase agreement was signed on 6 June 2018. The purchase is subject to approval by the local authorities.
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BULSTRAD VIG awarded Non-life Insurer of the Year in 2017
by Daniela GHETU, 2018-06-04
ZAD BULSTRAD VIENNA INSURANCE GROUP has been awarded the highest recognition on the insurance market in Bulgaria, during the 10th anniversary edition of the Bulgarian market's prestigious awards gala.
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UniCredit signs strategic Bancassurance partnerships with ALLIANZ and GENERALI in CEE
by Vlad BOLDIJAR, 2018-06-06
UniCredit announced it has signed two exclusive strategic partnership agreements with ALLIANZ and GENERALI for the distribution of insurance products for individuals and small-businesses in nine CEE markets.
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EIG Q1 GWP down to EUR 76.5 million due to the 22% Romanian business decrease
by Vlad BOLDIJAR, 2018-06-06
The Bulgarian financial holding EUROHOLD reported a Q1 2018 net consolidated profit of BGN 0.8 million (EUR 0.4 million), representing a 49% decline compared to a profit of BGN 1.6 million for the first quarter of 2017.
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Bosnia: GRAWE osiguranje finalized the absorption of non-life insurer VGT osiguranje
by Vlad BOLDIJAR, 2018-06-07
The Bosnian subsidiary of Austrian insurer GRAWE (GRAWE osiguranje) finalized the absorption of local non-life insurer VGT osiguranje, according to the latest registered operations by RVP - The Registry of Securities of the Federation Bosnia and Herzegovina.
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A Turkish operational leasing firm acquired MAGDEBURGER Sigorta
by Vlad BOLDIJAR, 2018-06-07
Turkish operational leasing company BORLEASE Otomotiv acquired MAGDEBURGER Sigorta, a non-life small insurer owned by two local units of German group ALLIANZ: the non-life unit ALLIANZ Sigorta (80%) and the life and pension company ALLIANZ Yasam ve Emeklilik (20%).
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Russian ACRA (Analytical Credit Rating Agency) acquired the European Rating Agency (ЕRА)
by Marina MAGNAVAL, 2018-06-06
ACRA (Analytical Credit Rating Agency) acquired in April the European Rating Agency (ERA) based in Slovakia, according to announcement on the ACRA website, thus becoming its sole shareholder.
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STATISTICS: ARMENIA, 1Q2018: INGO Armenia takes the market leadership after the first three months
by Marina MAGNAVAL, 2018-06-06
In Q1 2018 Armenian insurers generated about 14 billion AMD of premiums, while in European currency this volume amounted to almost EUR 24 million, according to the information provided by ArmInfo news agency.
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STATISTICS: UZBEKISTAN, 1Q2018: market results strongly affected by the y-o-y currency depreciation against euro
by Marina MAGNAVAL, 2018-06-06
In Q1 2018 Uzbek insurance market saw a significant growth in local currency by 83.2%, while in European currency total premiums dropped by 29.13% due to big depreciation against euro compared to Q1 2017 (almost 3 times), according to the official report of the Uzbek insurance supervisory authority.
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The 1st Summit of National Reinsurers to be organized in Moscow, September 20-21
by Oleg DORONCEANU, 2018-06-07
The Russian National Reinsurance Company (RNRC) invites in Moscow, on September 20-21, 2018 the main national reinsurance companies of the world, to take part in the 1st Summit of National Reinsurers.
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Health, accident and agricultural insurance among Russian Central Bank's top priorities for the market development in 2019-2021
by Daniela GHETU, 2018-06-07
A bill on insurance for accidental death from emergency situations, mandatory medical insurance reform, and improvement of agricultural insurance products, including state-supported coverage are the top legislative priorities for the Russian insurance market, Central Bank Deputy Governor Vladimir CHISTYUKHIN said.
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Russia: Central Bank stopped active cleaning of the insurance sector
by Marina MAGNAVAL, 2018-06-07
First deputy chairman of the Central Bank of Russia Sergey SHVETSOV during XVI International conference of All-Russian Insurance Association announced that the period of active cleaning of the insurance sector was completed and now is mostly voluntary.
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Russian Central Bank to "rate" insurers after the quality of the services provided
by Daniela GHETU, 2018-06-07
Central Bank of Russia plans to create insurers rankings based on the quality of their operations, Central Bank First Deputy Sergei SHVETSOV said during the International Insurance Summit, thus providing for some sort of "quality rating", Interfax reported.
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Ukraine: in Q1 77.7% of complaints were about insurance non-compliance
by Marina MAGNAVAL, 2018-06-07
National Financial Services Committee of Ukraine in Q1 received 1,955 complaints from citizens (378 more than in the previous quarter). At that 77.7% of complaints were about insurance legislation non-compliance, as informed by the insurance news portal Forinsurer.
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Russian SOGAZ insurer's A.M. Best ratings under review after the VTB purchase announcement
by Daniela GHETU, 2018-06-04
A.M. Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" of INSURANCE COMPANY OF GAZ INDUSTRY SOGAZ (SOGAZ) (Russia), the agency announced.
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Kazakh Standard Insurance ratings affirmed by A.M. Best before company leaving the agency's interactive rating process
by Daniela GHETU, 2018-06-04
A.M. Best has affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of "b+" of Standard Insurance Company JSC (Standard) (Kazakhstan). The outlook of these Credit Ratings (ratings) remains stable.
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XL Group shareholders approved the merger agreement with AXA
by Vlad BOLDIJAR, 2018-06-07
XL Group announced today that its common shareholders have approved an agreement for AXA to acquire 100% of XL Group for a total consideration of approx. USD 15.3 billion, to be fully paid in cash.
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ACHMEA completes the sale of its Irish life insurer to AVIVA
by Vlad BOLDIJAR, 2018-06-06
Dutch insurer ACHMEA announced the closing of the sale of its Irish life insurer FRIENDS FIRST to AVIVA group plc.
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The first ever 144A cat bond under the UK Risk Transformation Regulations 2017 was issued, sponsored by SCOR
by Daniela GHETU, 2018-06-04
SCOR has successfully sponsored a new catastrophe bond, Atlas Capital UK 2018 PLC, which will provide the Group with multi-year risk transfer capacity of USD 300 million.
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| ON THE MOVE |
Krzysztof JABLONSKI appointed as FRISS Sales Manager for the CEE Region
by Daniela GHETU, 2018-06-07
Krzystof (Kris) JABLONSKI has joined FRISS, the global provider of fraud and risk solutions for the P&C insurance industry, being appointed Sales Manager for the CEE Region.
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ERGO appointed the former head of PZU Ukraine as CEO of its Russian non-life unit
by Vlad BOLDIJAR, 2018-06-06
Subject to official approval, ERGO International has appointed Maciej SZYSZKO to be the new Chief Executive Officer for ERGO non-life business in Russia.
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Azerbaijan: changes in the top-management of the Compulsory Insurers Bureau
by Marina MAGNAVAL, 2018-06-07
Rashad AKHMEDOV is the new executive of the Azeri Compulsory Insurers Bureau (CIB), replacing Fariz AZIZOV, according to the Bureau's official report. Rashad AKHMEDOV officially assumed his duties from June 1, according to the report.
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Three new appointments at XL Catlin insurance operations
by Daniela GHETU, 2018-06-07
XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.
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| TOP
EVENT |
| MARKETS AND TRENDS |
Lloyd's: Cyber-crime, interstate conflicts or market crashes yearly costs may reach USD 320.1 billion
by Daniela GHETU, 2018-06-07
Man-made risks like cyber-crime, interstate conflicts or market crashes are a bigger threat to economic output than natural disasters, putting an estimated USD 320.1 billion of global GDP at risk on average each year, according to Lloyd's City Risk Index. Built in collaboration with Cambridge University, the study measures the impact of 22 threats on 279 cities' projected economic output.
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HOPE DIES LAST
by Alexandru CIUNCAN, 2018-06-07
Such a reading is also the most recent report of the GENEVA Association (details on them, HERE), suggestively titled "Understanding and Addressing Global Insurance Protection Gaps". Summarily, the material analyzes and seeks solutions for the so-called insurance protection gap. The phenomenon of under-insurance, on a global scale.
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CONNECTED INSURANCE SUMMIT
11 - 12 June, 2018
Hilton Tower Bridge, London, UK
International Conference InsuranceNEXT'UA 2018
14- 15 June 2018
Kiev, Ukraine
INSURANCE CUSTOMER ENGAGEMENT
19 - 20 June, 2018
The Grange Tower Bridge Hotel, London, UK
8th Annual Africa Insurance and Reinsurance Conference
20-21 June, 2018
Nairobi, Kenya
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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