 TOP NEWS |
EIG, 1H: All subsidiaries reported growth-rates except EUROINS Romania
by Andrei Victor, 2018-08-13
Bulgarian financial group EUROHOLD said its revenues from insurance activity at the end of 1H2018 amounted to BGN 458.6 million (about EUR 235 million). Compared to the same period in 2017, the revenues from insurance activity decreased by 14.9%.
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STATISTICS: ALBANIA, 1H2018: domestic mandatory motor TPL insurance reins the market, increasing its weight by 2 pp
by Daniela GHETU, 2018-08-16
The about 5% appreciation of the Albanian Lek against EURO has favored the market results denominated in European currency, showing a higher growth rate than in local currency. Thus, in EUR, GWP increased overall by 9.43%, to EUR 61.2 million.
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STATISTICS: CROATIA, 1H2018: 9.6% Y-O-Y GWP growth accompanies by a 12% increase in the claims paid
by Daniela GHETU, 2018-08-16
Croatian insurers reported for 1H2018 GWP worth EUR 729.43 million, 9.6% up y-o-y. Paid claims amounted to EUR 375.18 million, 12% up y-o-y. Most of the market growth was provided by the non-life segment, especially the motor insurance lines.
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MUNICH Re on track to reach the FY profit target
by Andrei Victor, 2018-08-13
Reinsurer MUNICH Re reported Q2 profit of EUR 728 million and H1 2018 profit of EUR 1.56 billion, compared with EUR 733 million and EUR 1.29 billion in 2017, respectively.
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HANNOVER Re, 1H: Double-digit growth in premium and operating profit
by Andrei Victor, 2018-08-13
Reinsurer HANNOVER Re announced its 1H2018 business results confirm the FY2018 profit guidance with expected net income of more than EUR 1 billion, if large loss expenditure will not significantly exceed EUR 825 million and no unforeseen distortions on capital markets will be recorded.
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ZURICH H1 BOP up by 12% y-o-y
by Andrei Victor, 2018-08-13
ZURICH Insurance Group reported H1 business operating profit (BOP) up 12% y-o-y to USD 2.42 billion and first half net income after tax attributable to shareholders up y-o-y 19% to USD 1.79 billion.
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TALANX expects net income of around EUR 850 million for year end
by Daniela GHETU, 2018-08-16
The TALANX Group
has already earned over half of the targeted annual result, the 1H
results show. GWP increased by 6.9% to EUR 18.8 billion. Adjusted for
currency effects, the increase was in double digits at 11.8%.
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Find out the latest insights from the insurance companies pioneering AI implementation
by Adina TUDOR, 2018-08-13
Insurers are no longer discussing AI (Artificial Intelligence) as a theoretical concept. The conversation has moved on: we are currently seeing practical implementation of this technology, and the results are proving to be truly advantageous.
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Tremor's Programmatic Reinsurance Marketplace open for business
by press.release, 2018-08-16
Tremor Technologies, Inc., a venture-backed startup based in Greenwich, CT, has announced that its programmatic risk placement marketplace is fully operational with significant buyers and sellers of re/insurance protection in place.
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STATISTICS: ARMENIA, H1 2018 result: growth of paid claims exceeded growth rate of premiums and amounted to almost 35%
by Marina MAGNAVAL, 2018-08-16
Armenian market increased in local currency by 29.64% to AMD 22 billion (~EUR 39 million) in 1H2018, based on the data of ArmInfo portal. At that, growth rate of paid claims exceeded premiums and amounted to 34.91%.
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ARMENIA, 1H: corporate insurance lines' growth rate increased from 8.5% to 58.2%
by Marina MAGNAVAL, 2018-08-13
Based on the 1H2018 results, the growth rate of corporate insurance lines significantly increased from 8.5% to 58.2%, outperforming the individual insurance segment (2.7% to 6% increase), so that the share of this insurance in portfolio of local insurers reached 55.3%, wrote ArmInfo portal.
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ARMENIA, 1H: loss ratio in MTPL and health insurance increased to 67% and 42.5% respectivelly
by Marina MAGNAVAL, 2018-08-13
In Armenia as of July 1 this year loss ratio in MTPL and health insurance increased (from 55.6% to 67% and from 41.7% to 42.5% respectivelly), and Motor Hull saw an opposite trend- decline of loss ratio (70.6% vs 78.6% compared to the same period last year), wrote ArmInfo portal.
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KAZAKHSTAN, 1H: premiums of compulsory insurance of carriers' liability to passengers went up by almost 22%
by Marina MAGNAVAL, 2018-08-13
In Kazakhstan for the first six months incomes of passenger carriers increased by 17.5% compared to the same period last year, premiums of compulsory insurance of carriers' liability to passengers jumped by almost 22%, as informed allinsurance.kz.
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KAZAKHSTAN: insurers offset cost increase for some products against weak premium performance
by Marina MAGNAVAL, 2018-08-13
Premiums in the first half year saw weak performance of 3.7%, while the total number of agreements increased only by 2.6%. At that the leading segment in terms of growth rate was compulsory insurance (+19.4% vs 6.2% a year before), wrote allinsurance.kz.
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KAZAKHSTAN: The National Bank of Kazakhstan approved the merger of NURPOLICY to VICTORY
by Marina MAGNAVAL, 2018-08-13
Insurance company VICTORY on July 30, 2018 got an approval from the National Bank of Kazakhstan for voluntary reorganization due to the merge of NURPOLICY, as announced on the regulator's website.
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RUSSIA, 1H: life insurance growth rate reached 42%, driven by investment life insurance
by Marina MAGNAVAL, 2018-08-13
In the first half year 2018 life insurers' premiums jumped by 42%, compared to the same period last year, and amounted to RUB 222 billion*, informed the President of ARIA Igor YURGENS.
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RUSSIA: MTPL premiums and paid claims dropped in the first half of the year
by Marina MAGNAVAL, 2018-08-13
According to the preliminary data of the Russian Association of Motor Insurers (RAMI) total MTPL premiums in the first half year in 2018 amounted to RUB 109.08 billion*, -1.4% compared to the same period of the last year.
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RUSSIA: in 1H premiums of one of the TOP-3 life insurers, RGS Life, dropped by 40%
by Marina MAGNAVAL, 2018-08-14
Premiums of RGS Life, one of the 3 life market leaders, based on the first half year result dropped by 40% against the market total growth, wrote ASN portal.
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RUSSIA: first half year results show RNRC's charged reinsurance premiums increased more than 2 times
by Marina MAGNAVAL, 2018-08-13
Total volume of charged reinsurance premiums amounted RUB 6.26 billion* (vs RUB 3 billion a year ago). Total volume of earned reinsurance premiums amounted to RUB 4.7 billion, according to the official announcement of the reinsurer's website.
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RUSSIA: net profit of the biggest local insurer increased in the first half year by 2.4%
by Marina MAGNAVAL, 2018-08-13
The biggest local insurer SOGAZ improved its net profit in the first half year compared to the same period of 2017 by 2.4% to RUB 19 billion*, wrote ASN portal.
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A.M. Best assigns Credit Ratings to Russian Reinsurance Company JSC
by press.release, 2018-08-14
A.M. Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of "bb+" to Russian Reinsurance Company JSC (Russian Re) (Russia). The outlook assigned to these Credit Ratings (ratings) is stable.
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Russian central bank intents to tighten investment rules for insurers
by Daniela GHETU, 2018-08-14
Russia's central bank said on 9 August it was proposing to limit investments made by insurance companies into securities that were issued by a single entity, Reuters reports.
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RUSSIA: National Rating Agency Expert RA improved financial strength rating of SOGLASIE to ruBBB+, forecast stable
by Marina MAGNAVAL, 2018-08-13
The National rating agency Expert RA (RAEX) improved the financial strength rating of the insurance company SOGLASIE to ruBBB+, forecast stable; before that the insurer's rating was ruBBB, announced the agency.
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UKRAINE: for February-July local insurers sold more than 31 thousand of e-MTPL
by Marina MAGNAVAL, 2018-08-13
MTIBU published sales statistics of e-MTPL in Ukraine from February 7 to July 31, 2018. During this period local insurers sold 31,155 of electronic MTPL policies, wrote FORINSURER.
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UKRAINE: National Financial Services Committee toughens solvency requirements for the local insurers
by Marina MAGNAVAL, 2018-08-13
The National Financial Services Committee toughens solvency requirements for the local insurers. The Ministry of Finance registered an order of the Committee on approval of the Regulation on mandatory criteria and standards of capital adequacy and solvency, liquidity, profitability, asset quality and riskiness of the insurers' operations.
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| TOP EVENT |
Insurance Conference
Republic of Moldova
Chisinau, 2 October 2018
by Daniela GHETU, 2018-08-09
Digitalization of the insurance market, cost optimization and rethinking of distribution, tariffs' liberalization and introduction of the new products - are just a few key interest points of the Moldavian insurance market. Thus, local factors as well as external ones are driving all the involved stakeholders to adapt and respond to the new requirements and also to the InsurTech revolution.
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| MARKETS&TRENDS |
| ON THE MOVE |
AIG names Thomas LILLELUND as CEO of AIG Europe
by Andrei Victor, 2018-08-13
American International Group announced that Thomas LILLELUND will join as Chief Executive Officer of AIG Europe SA. His appointment is subject to the required regulatory approval.
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September 20-21, 2018, Sheraton Palace Hotel, Moscow, Russian Federationze="1"
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