 TOP NEWS |
CROATIA Osiguranje buys Central Securities Inc. and the Testing Group in Bosnia-Herzegovina
by Daniela GHETU, 2018-06-28
On June 28, 2018, Croatia Osiguranje has signed an agreement to acquire a 100% stake in Central Insurance dd and the Testing Group in Bosnia and Herzegovina. The purchase agreement is subject to required regulatory approval.
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Slovakia: the new 8% insurance tax will be operational starting January 2019
by Daniela GHETU, 2018-06-28
The Slovak Parliament adopted on 20 June the new legislation replacing the current 8% insurance levy with a new tax of the same amount applied to non-life insurance premiums, except for MTPL for which the current levy will be maintained.
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TUW PZUW - first Polish mutual insurer rated by an international agency
by Daniela GHETU, 2018-06-27
On June 25, 2018, the S&P Global Ratings rating agency awarded TUW
PZUW with an A- rating. This means that TUW Polski Zaklad Ubezpieczen
Wzajemnych is the first Polish mutual insurer and the second company
from the PZU Group with a rating.
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World Bank warning: Bucharest is the European capital with the highest exposure to earthquakes
by Cristian SUCA, 2018-06-28
Out of all EU capitals, Bucharest is the most exposed to the earthquake risk, wrote, on the Bank's blog, Tatiana PROSKURYAKOVA - World Bank Country Director for Romania and Hungary.
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Hungary: extreme weather during the first half of June resulted in insured losses of over EUR 6 million
by Daniela GHETU, 2018-06-28
Extreme weather conditions have significantly affected Hungary during
the first half of June, resulting in about 18,500 claims files worth a
combined HUF 2 billion (~EUR 6.1 million) in losses, the local
association of insurers said.
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Turkey: BMS to expand its ops with local counterpart
by Vlad BOLDIJAR, 2018-06-28
The independent re/insurance broker BMS Group Limited (BMS) said it has entered into a tied representative agreement with Turkish specialist re/insurance broker RONESANS Reasurans ve Sigorta Brokerlik A.S. (RONESANS).
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STATISTICS: Turkey 1Q2018: the insurance sector continued its impressive growth
by Vlad BOLDIJAR, 2018-06-28
The quarterly figures from the Turkey Insurance Association revealed that the local insurance market reached TRY 14.6 billion (EUR 3 billion) at the end of March 2018, up by 17.6% y-o-y.
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STATISTICS: CYPRUS, 1Q2018: A life & pensions insurer dominates the market rankings
by Vlad BOLDIJAR, 2018-06-25
The insurance market of Cyprus totaled EUR 251 million in the first three months of 2018 in terms of GWP, up by 7.2% y-o-y, according to the quarterly preliminary market figures published by the Insurance Association of Cyprus - IAC.
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STATISTICS: GREECE: Almost EUR 1 billion in first quarter GWP
by Vlad BOLDIJAR, 2018-06-25
At the end of March 2018, the Greek insurance market totaled EUR 999.5 million, up by 3.5% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC).
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MARSH to acquire WORTHAM Insurance
by Vlad BOLDIJAR, 2018-06-28
The insurance broker MARSH said that that it will acquire Houston-based WORTHAM Insurance, one of the premier independent insurance brokerage firms in the United States.
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AIG to acquire the UK group life specialist ELLIPSE from MUNICH Re
by Vlad BOLDIJAR, 2018-06-28
American International Group (AIG) and reinsurer MUNICH Re announced that AIG Life Ltd., the UK subsidiary of AIG Life & Retirement, has agreed to acquire ELLIPSE, a specialist provider of group life risk protection in the UK, from MUNICH Re.
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STATISTICS: GEORGIA, Q1 2018 results: MTPL jumped by almost 168%
by Marina MAGNAVAL, 2018-06-28
In the 1st quarter Georgian insurers generated GEL 164.39 million (EUR 55.23 million) of GWP, up y-o-y 14.32%, according to the regulator's official data. Paid claims, compared to the 1st quarter last year, increased by 20.8%.
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KAZAKHSTAN: during five months paid claims in property insurance went up by 156% compared to the same period last year
by Marina MAGNAVAL, 2018-06-25
According to the data of the National Bank of Kazakhstan paid claims in property insurance keep growing. For January-May they amounted to KZT 7 billion (vs KZT 2.7 billion a year ago) which means growth rate at 156% during a year.
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KAZAKHSTAN: based on may result total assets of insurers increased by 7.6%
by Marina MAGNAVAL, 2018-06-28
According to the results as of the end of May 2018 total assets of Kazakh insurers reached KZT 948.1 billion, y-o-y up by 7.6%. At that more than 40% is owned by TOP-3 biggest local insurance companies, informed the financial service Finprom.kz.
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UKRAINE: from February 7th this year local insurers concluded 15.7 thousand e-MTPL agreements
by Marina MAGNAVAL, 2018-06-28
In Ukraine from February to June this year local insurers have sold around 15.7 thousand of electronic MTPL policies, according to the data of the Motor Insurance Bureau of Ukraine.
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STATISTICS: RUSSIA: local insurance market in Q1 increased by 19.3%
by Marina MAGNAVAL, 2018-06-25
The market growth rates during the Q1 increased fourfold. GWP in the amount of RUB 377.4 billion exceeded by 19.3% the result of Q1 2017, when the growth rate amounted to 5.3%, according to the statistics published by the Central Bank of Russia.
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RUSSIA: in Q1 2018 premiums through intermediaries increased more than by 25%
by Marina MAGNAVAL, 2018-06-28
For 1Q2018 premiums via intermediaries amounted to RUB 238.7 billion (+25.6%), which makes 63.2% of the total quarter GWP (vs RUB 190 billion or 60% of the total GWP a year ago), according to the Central Bank of Russia.
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RUSSIA: paid claims in agroinsurance exceeded premiums in Q1
by Marina MAGNAVAL, 2018-06-25
According to the National Association of Agriculture Insurers (NAAI) during the first quarter paid claims in agroinsurance with state support jumped dramatically (one third growth compared to Q1 2017).
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RUSSIA: profitability under universal life insurance of SBERBANK Life insurance exceeded inflation level and average deposit interest rates
by Marina MAGNAVAL, 2018-06-25
Based on 2017 results announced investment profitability rates under universal life insurance policies (ULI) amounted to 8.7% for policies with insurance amounts in rubles and 5.19% - for policies in USD. Thus, profitability under ULI exceeded the level of inflation and average deposit interest rates.
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| ON THE MOVE |
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| TOP
EVENT |
Insurance Conference of Azerbaijan, VIth edition - MAIN CONCLUSIONS
by Daniela GHETU, 2018-06-28
The VIth edition of the main event dedicated to the insurance markets of Azerbaijan and the Caucasus region, Insurance Conference of Azerbaijan, took place in Baku, on 20-32 June, under the titles "Insurance in Azerbaijan: New perspectives".
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Azerbaijan: Agricultural insurance scheme to be established by the end of the year
by Oleg DORONCEANU, 2018-06-28
A new law on agricultural insurance may be adopted before year end in Azerbaijan, Executive Director of the Financial Markets Supervision Authority (FIMSA) Ibrahim ALYSHOV said at the conference "Insurance in Azerbaijan: New Prospects" , organized by XPRIMM and Azerbaijan Insurers Association in Baku.
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AZERBAIJAN: local insurance market following the results of VI Insurance conference
by Marina MAGNAVAL, 2018-06-25
During VI Insurance conference the Executive director of the Financial Market Supervisory Authority Ibrahim ALYSHOV announced that the insurance market is demonstrating serious growth based on the forming macroeconomic environment.
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| MARKETS & TRENDS |
KPMG: Four of the Top 5 global M&A deals in 2017, in the financial sector, were insurance related
by Daniela GHETU, 2018-06-27
Four of the Top 5 global M&A deals, in the financial sector in 2017, totalizing USD 28.8 billion, occurred on the insurance sector's stage. The absolute star of the season was the acquisition of the US based XL Group's by the French AXA, for a total consideration of USD 15.26 billion.
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MENA: Fast growing insurance business outpacing economic growth min the region
by Daniela GHETU, 2018-06-28
Insurance markets of the Middle East and Northern Africa (MENA) are expected to continue outgrowing the region's GDP over the next 12 months. Personal lines business remains the key growth driver, with primary insurers benefiting from compulsory insurance requirements as well as regulatory actions supporting rates, the latest edition of the MENA Insurance Pulse reads.
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| STATISTIC
UPDATES |
| PARTNER
EVENTS |
8th Bancassurance Europe Summit 2018
26-29 June 2018, London, UK
Global Insurance Forum - The Innovation Transformation
8 - 11 July, 2018 Berlin
8th Bancassurance Europe Summit 2018
26-29 June 2018, London, UK
9th Bancassurance Asia Summit 2018
14 - 17 august 2018 Bangkok, Thailanda
4th Annual Conference Insurance in a Digital Future
13 September 2018, Ljubljana - Slovenia
Les Rendez-Vous de Septembre
8-13 September, 2018, Monte-Carlo
2nd Edition IFRS 17 Implementation in Life Insurance
13-14 September 2018, London, United Kingdom
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CUTTINGS |
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