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NEWS |
Marsh & McLennan Companies acquires Jardine Lloyd Thompson Group for USD 6.4 billion
by Daniela GHETU, 2018-09-18
Marsh & McLennan Companies?has announced today it?has reached an
agreement to acquire Jardine Lloyd Thompson Group plc?for a total
consideration of?USD 6.4 billion, as part of its?strategy to be the
preeminent global firm in the areas of risk, strategy and people.
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Berkshire Hathaway Specialty Insurance opened a new office in Munich
by Daniela GHETU, 2018-09-18
Berkshire Hathaway Specialty Insurance (BHSI) announced that it has opened a new office in Munich, Germany, marking the latest advance in BHSI's steady, strategic expansion of its global footprint and capabilities for customers and brokers worldwide.
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VIG to make acquisitions in Ukraine
by Andrei Victor, 2018-09-18
Austrian insurer VIG intends to become a Top3 insurer in the Ukrainian insurance market, and "is mulling the possibility of acquiring another risk insurance company", wrote the local business portal open4business.com.ua.
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STATISTICS: CZECH. Rep., 1H2018 (CNB): positive trend equally driven by the MTPL and Motor Hull insurance lines
by Daniela GHETU, 2018-09-20
The market statistical data provided by the Czech National Bank for 1H2018 confirm the positive trend reported by the results published by the local insurers' association (CAP) one month ago. Yet, as the group of market players considered by each of the two reports is different, also the overall picture is somewhat different.
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TRIGLAV to become the sole owner of Skupna pokojninska druzba's
by Andrei Victor, 2018-09-18
Zavarovalnica TRIGLAV, the parent company of the TRIGLAV Group announced it signed an agreement with Nova Ljubljanska banka - NLB - to purchase the remaining 28.1% equity stake of pension insurer Skupna pokojninska druzba, thereby becoming its 100% owner.
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AZERBAIJAN: the insurance market in 2018 may reach AZN 600 million
by Marina MAGNAVAL, 2018-09-19
The Azeri market will continue to grow in 2018 according to the Chairman of the Mediator Committee of the Azerbaijani Insurers Association (ASA), Hayal MAMEDHANLI. Based on his opinion, the market may reach AZN 600 million this year (AZN 30 million more than in 2017).
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STATISTICS: GEORGIA, 1H 2018: premiums of health insurance exceeded more than double the premiums of motor classes
by Marina MAGNAVAL, 2018-09-20
The Georgian insurance market generated GWP in the amount of GEL 295.28 million (EUR 103.83 million) in the first half year, a 19.36% increase y-o-y, while the life sector increased by 69.36%, according to data from the Insurance Supervisory Office of Georgia.
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GEORGIA: Starting in 2019 the model of financing universal health insurance in the country will change
by Marina MAGNAVAL, 2018-09-19
Beginning in 2019, Georgia will change the model of financing within the General Health Insurance program. According to the Ministry of health the new system of reimbursement provides for transition to a model of diagnostically related groups (DRG), based on which a patient's diagnosis, age, length of hospitalization, and other criteria will determine the amount of funding, wrote Business Georgia.
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STATISTICS: UKRAINE, 1H 2018: life insurance demonstrates significant growth by more than 39%
by Marina MAGNAVAL, 2018-09-19
The Ukrainian insurance market generated GWP in the amount of UAH 23.42 billion (EUR 766.33 million) in the first half year, 10.38% more than a year ago. Likewise, GWP of life insurers increased by 39.2% from UAH 1.24 billion (EUR 41.8 million) to UAH 1.73 billion (EUR 56.69 million), according to the National Financial Services Commission.
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STATISTICS: UZBEKISTAN, 1H 2018: voluntary insurance in local currency jumped by more than 116%, while in euro this growth amounted to about 4%
by Marina MAGNAVAL, 2018-09-19
In the first half year, Uzbek insurers generated UZS 817.6 billion (EUR 89.12 million) of GWP, which in local currency means a y-o-y growth of 87.53%, while in euro the market GWP dropped by 10.19% due to significant depreciation of UZS against EUR, according to the data of the Ministry of Finance of Uzbekistan.
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RUSSIA: RAEX improved rating of YUGORIA insurer to ru-
by Marina MAGNAVAL, 2018-09-19
The National rating agency RAEX improved rating of YUGORIA to ruA- with positive forecast. Before the insurer's rating level was ruBB+ with stable forecast, as ASN announced.
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RUSSIA: RAEX confirmed rating of RSHB-Insurance at ruAA, forecast stable
by Marina MAGNAVAL, 2018-09-19
The National rating agency RAEX confirmed the rating of RSHB-Insurance at ruAA with a stable forecast, wrote ASN portal. RSHB-Insurance is an all-lines insurer, a subsidiary of ROSSELKHOZ Bank, as well as the leader of agro insurance with a market share of 48.6% of all the class' GWP in the country, based on the 1H result.
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| ON
THE MOVE |
Thierry PELGRIN has joined the underwriting team of UnipolRe
by Daniela GHETU, 2018-09-18
The newly established reinsurer UnipolRe has appointed Thierry PELGRIN as Senior Underwriter for France, DACH, Belgium (French Speaking Clients), Southern Europe & the CEE, reporting to Simon WIGZELL, Underwriting Manager.
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Martin BLACKWELL to Join JLT Re as Partner
by Andrei Victor, 2018-09-18
JLT Re announced that Martin BLACKWELL will be joining JLT Re as a Partner, capital solutions, next month.
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MILLI Re announced new Manager appointment
by Andrei Victor, 2018-09-18
Turkish reinsurer MILLI Re stated that Gokhan AKTAS has been appointed to the position of Manager of Foreign Inward Business on 01 September 2018.
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Catherine DUFFY to Join AIG as Country Manager of Bermuda
by Andrei Victor, 2018-09-18
American International Group - AIG announced that Catherine DUFFY will join the company's General Insurance business as Country Manager of Bermuda, at a date to be determined.
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| TOP
EVENT |
Increasing regions' resilience to flood and draught - on the ICAR 2018 agenda
by Daniela GHETU, 2018-09-20
In the context of the increasing frequency and intensity of meteorological events as a result of climate change, improving resilience to natural disaster risks is a primary objective, which requires the cooperation of all the interested entities - institutions of public administration, associations specialized in risk analysis and assessment, insurance companies, consultancy bodies, and non-profit organizations, etc.
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| INTERVIEW |
 Ilijana JELEC
Member of the Board
Croatian Financial Services Supervisory Agency (HANFA).
by Daniela GHETU, 2018-09-20
The main challenges in our market mostly relate to the new regulation: PRIIPs, IDD Directive and the new accounting standard IFRS 17. A lot of additional information and reports have been collected since Solvency II came into force, and some of them need to be submitted twice (within Solvency II and standard statutory reporting), which can be burdensome for businesses. The new legislation also implies additional expenses and challenges, both for enterprises and supervisors.
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