TURKEY: reinsurance pool to be formed under the New Economic Plan; employees' participation in the private pensions system mandatory for three years
by Daniela GHETU, 2018-09-27
Turkey's insurance market will see soon a new reinsurance pool being formed, according to the provisions of the New Economic Plan (YEP) aiming to ease access of the so called "risky enterprises" to insurance programs.
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STATISTICS: Slovak Rep., 1H2018: consolidated net profit EUR 86 million, down 4% y-o-y
by Daniela GHETU, 2018-09-27
Slovak insurers have reported GWP worth EUR 1.13 billion in 1H2018, 4.46% up y-o-y. At the same time, claims paid have increased by almost 13% y-o-y, to EUR 649.2 million.
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CROATIA osiguranje to absorb its credit insurance unit
by Andrei Victor, 2018-09-27
The Central Depository and Clearing Company - SKDD announced that Croatia Osiguranje absorbed its credit insurance unit unit Croatia Osiguranje Kredita. "The corporate action of Acquisition of the Companies will be executed on 1 October 2018", as the institution announced in a statement.
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TRIGLAV Group to Acquire the Slovene Asset Management Company ALTA Skladi
by Daniela GHETU, 2018-09-27
On 21 September 2018, TRIGLAV Skladi, a TRIGLAV Group member, and the seller Alta Skupina signed an agreement to acquire a 100% stake in the Slovene asset management company ALTA Skladi, druzba za upravljanje.
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Poland: Full online access to the Insurance Guarantee Fund communication database
by Daniela GHETU, 2018-09-27
The full history of MTPL and Motor Hull insurance is now available online for every vehicle owner in Poland. In addition, all drivers - even if they are not the owners of the vehicle - can check their accidents history.
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Hungary: extreme weather caused less damage this summer, but new phenomena are gaining ground
by Daniela GHETU, 2018-09-27
According to the first estimations of the Hungarian Association of Insurers (MABISZ), local insurers paid HUF 3.17 billion (EUR 9.7 million) between May 1 and August 31 for over 57 thousand claims for damages caused to individual and condominium buildings by storms, rainstorms, lightning, and hail.
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UNIQA expands the successful CHERRISK model to other European markets
by Daniela GHETU, 2018-09-27
Developed by the Hungarian branch of UNIQA, the innovative CHERRISK model will be expanded to Europe, thus confirming the success recorded by an initiative launched in 2014, aiming to better interact with the young generations of customers.
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STATISTICS: UKRAINE, 1H 2018: 98% of risk insurance GWP accumulated by 100 insurers out of 291
by Marina MAGNAVAL, 2018-09-27
According to the National Financial Services Commission, as of July 1, 2018, the total number of Ukrainian insurers amounted to 291, including 31 life insurers and 260 risk insurers. For the first half year total number of insurers decreased by 9.
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UKRAINE: for January-July, annual growth of MTPL amounted to 20.5% and Green Card went up by 25%
by Marina MAGNAVAL, 2018-09-24
For 7 months, Ukrainian insurers (members of MTIBU, the Motor Transport Insurance Bureau of Ukraine) generated UAH 2.57 billion of MTPL premiums (+20.5%). The total number of MTPL policies, according to MTIBU, increased by 4.2% and amounted to almost 4.6 million units.
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RUSSIA: approximate cost of the new platform under the recent law on household insurance will be up to RUB 60 million
by Marina MAGNAVAL, 2018-09-24
Under the new law on household insurance, insurers are ready to create a new platform to launch a federal information resource on household insurance, according to the head of the Information Systems Department of the Russian Association of Motor Insurers, Alexey SAMOSHIN.
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RUSSIA: annual growth of Motor Hull premiums reached 3.1% in the first half year
by Marina MAGNAVAL, 2018-09-24
For the first half year 2018, Motor Hull GWP amounted to RUB 80.1 billion (+3.1% y-o-y). According to the Central Bank, Motor Hull premiums saw growth for the first time in the last 3 years (in 2016, for example, premiums decreased by 9%, in 2017 - 4.8%).
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RUSSIA: agro insurance in 1H2018 dropped by 36%
by Marina MAGNAVAL, 2018-09-27
The agro insurance segment based on the Central Bank dropped by 36% to RUB 1.66 billion in the 1H 2018. The biggest contribution to the segment was made by agro insurance without state support (+2.8% to RUB 904.3 million), according to the National Association of Agriculture Insurers (NAAI).
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XVII-th November Business Meetings (NBM) of Reinsurers - registration opened
by team, 2018-09-27
The XVII-th edition of the November Business Meetings (NBM) of Reinsurers will take place on November 21-22, 2018 in Moscow, at "Novaya Ploschad" Business Center, the already traditional venue of the event, since 2012.
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KAZAKHSTAN: life premiums for January-July increased more than 1.5 times y-o-y
by Marina MAGNAVAL, 2018-09-24
Life GWP for January-July amounted to 11.2% of total market GWP (vs 7.5% a year ago), according to Energyprom.kz. Thus, life premiums increased more than 1.5 times y-o-y.
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KYRGYZSTAN: development of agro insurance is planned on the basis of Turkish experience
by Marina MAGNAVAL, 2018-09-27
Kyrgyzstan plans to develop agro insurance of crops and livestock based on the experience of Turkey, said information agency Kabar.
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AZERBAIJAN: annual growth rate of premiums in January-August exceeded 40%
by Marina MAGNAVAL, 2018-09-27
For the period of January-August, Azeri insurers' GWP amounted to AZN 516.924 million (+40.1% y-o-y), as the financial market supervisory authority reported. Paid claims reached AZN 168.582 million (+0.9%).
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A.M. Best affirms credit ratings of Zurich Insurance Group Ltd and its main rated subsidiaries
by Daniela GHETU, 2018-09-24
A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" for the main rated insurance subsidiaries of Zurich Insurance Group Ltd (Switzerland).
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Half of Austria has no insurance coverage for accidental injuries representing 75% of all cases
by Alana MCKENZIE, 2018-09-25
Every day in Austria more than 2,100 people are injured severely enough to need hospital treatment. Yet only one in two Austrians has a personal accident policy, although such coverage is one of the most basic insurance covers that nobody should forego, cautions UNIQA Austria.
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Lloyd's, 1H2018: return to profit and a large-scale transformation underway
by Daniela GHETU, 2018-09-24
After the severe catastrophe experience in 2017, resulting in a loss of GBP 2 billion, Lloyd's of London books returned to black in the first half of 2018, with a pretax profit of GBP 588 million supported by an improved combined ratio of 95.5%.
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A.M. Best affirms credit ratings of SCOR SE and its main operating subsidiaries
by Daniela GHETU, 2018-09-24
A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" for SCOR SE (SCOR) (France) and its main operating subsidiaries.
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