Pitches for digitization projects at VIENNA Insurance Group: around EUR 1 million to be invested in five projects
by XPRIMM team, 2018-06-21
Vienna Insurance Group (VIG) has recently invited its roughly 50 Group companies to submit pitches for digitization projects. Five proposals were selected and will receive funding of about EUR 1 million in total. A second round of pitches will follow in autumn 2018.
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VIENNA Insurance Group a step closer to create the Austria's largest life insurer
by Vlad BOLDIJAR, 2018-06-20
VIG announced the merger of its two Austrian units Wiener Staedtische and Sparkassen Versicherung (s Versicherung) entered "the final stage" after the signature of a notarial act on 13 June 2018 - "the final internal legal step paving the way for the merger of the two companies".
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PAID Romania - a model for reforming the mandatory home insurance system in Kyrgyzstan
by Daniela GHETU, 2018-06-21
Initiated by the World Bank, a technical knowledge exchange meeting was held in Bucharest with PAID Romania representatives and a delegation consisting of high-level representatives of the insurance market and the Kyrgyz parliament, on the topic of the Romanian experience in building a compulsory home insurance scheme.
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STATISTICS: POLAND, 1Q2018: moderate overall increase in GWP, with opposite dynamics on the life and non-life segments
by Daniela GHETU, 2018-06-21
Polish insurers ended 1Q2018 with GWP worth PLN 16.25 billion (EUR 3.86 billion), approx. 2% up y-o-y, depending on the currency of choice. Paid claims amounted to PLN 10.5 billion (EUR 2.5 billion), a sum by about 0.7% larger y-o-y.
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STATISTICS: ESTONIA Q1: The insurance market expanded by more than a quarter
by Vlad BOLDIJAR, 2018-06-20
Estonian insurers reported in Q1 2018 GWP of EUR 125.7 million, representing an 26.1% y-o-y increase, according to the quarterly figures published by the Estonian National Statistics Board.
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STATISTICS: LATVIA 1Q2018: Life insurers reported a quarterly net loss of EUR 1.5 million
by Vlad BOLDIJAR, 2018-06-20
Latvian insurers generated EUR 2.69 million in first quarter net profit, which is more than double compared with the Q1 2017 net profit of EUR 1.13 million, according to the figures released by the Financial and Capital Market Commission (FKTK).
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STATISTICS: LITHUANIA, 1Q2018: Sustainable and robust growth of insurance market continues
by Vlad BOLDIJAR, 2018-06-21
In the first quarter of this year, the Lithuanian insurance market grew by 18.3%, the premiums amounted to almost EUR 220 million, and claims paid - EUR 115 million, according to the figures published by the Bank of Lithuania.
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Sava Re Group Solvency and financial condition report 2017
by XPRIMM team, 2018-06-21
Sava Re has released the Sava Re Group Solvency and financial condition report 2017, as approved by the management board of Sava Re, with the consent of the Company's supervisory board.
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20 years of the BRCC
by Alexandru CIUNCAN, 2018-06-15
On Thursday, 14 June, the BRCC - British Romanian Chamber of Commerce celebrated its 20th Anniversary at the House of Lords in London, UK.
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EIOPA: EEA insurers' assets amounted to EUR 11,385 billion by the end of 2017
by Daniela GHETU, 2018-06-21
By the end of 2017, the 2,195 EU insurers included in the EIOPA statistics, were holding assets worth EUR 11,385 billion, 0.34% up y-o-y. Liabilities amounted to EUR 9,894 billion, decreasing by about 0.3% y-o-y. Overall, excess of assets over liabilities amounted to EUR 1,491 billion.
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GENERALI completes sale of Ireland-based GENERALI PanEurope
by Vlad BOLDIJAR, 2018-06-21
Assicurazioni GENERALI announced that it has completed the sale of its entire shareholding in the Ireland-based GENERALI PanEurope to Life Company Consolidation Group (LCCG).
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RUSSIA: ROSGOSSTRAKH registered its own life insurer
by Marina MAGNAVAL, 2018-06-20
On June 13 one of the biggest Russian insurers - ROSGOSSTRAKH registered its own life insurer - RGS Life insurance, informed ROSGOSSTRAKH. The new company will start selling policies in the fourth quarter this year.
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RUSSIA: SBERBANK group is testing new product SBERBANK Perviy for long-term life policies
by Marina MAGNAVAL, 2018-06-20
New product - SBERBANK Perviy will let clients, having long-term life insurance policies, get a special set of medical services, as informed representatives of the SBERBANK group.
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UKRAINE: TAS insurance group saw a 36.9% y-o-y premiums increase in the first 5 months of 2018
by Marina MAGNAVAL, 2018-06-20
TAS insurance group, included in TOP-10 of Ukraine, for 5 months this year generated premiums in the amount of UAH 524.82 million, which is 36.9% more than for the same period last year, says the group's report.
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UKRAINE: foreign owned insurers generated saw a 35% y-o-y increase in GWP in 1Q2018
by Marina MAGNAVAL, 2018-06-20
In Q1 2018 Ukrainian insurers with foreign capital generated GWP in the amount of UAH 6,783 billion (+35%), according to the member of the National Financial Services Committee Aleksandr ZALETOV.
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UKRAINE: Q1 shows that the local market is getting more concentrated
by Marina MAGNAVAL, 2018-06-21
Q1 2018 shows that 100 local insurers accumulate 98.3% of the total market GWP. Total number of Ukrainian insurance companies as of the end of the 1st quarter - 292, at that 32 of them are life insurers and 260 - risk insurers.
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Kyrgyzstan: half of the Kyrgyz insurers ended Q1 2018 with a positive balance sheet
by Marina MAGNAVAL, 2018-06-20
Total profit for the 1st quarter 2018 amounted to KGS 58.2 million. "Out of 21 insurance companies of the market, profit was generated by 10 companies", - informed the National statistics committee.
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Kazakhstan: introduction of imputed insurance is planned
by Marina MAGNAVAL, 2018-06-20
The Chairman of the National Bank of Kazakhstan Daniyar AKISHEV explained about introduction of imputed insurance and expansion of the activity of the insurance ombudsman in the country.
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Tajikistan: one more insurer stopped operating
by Marina MAGNAVAL, 2018-06-20
SUGURTAI MILLI stopped its insurance activity due to expiration of its license, as informed the press service of the National Bank of Tajikistan.
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