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STATISTICS: BULGARIA, 1H2018: LEV INS overtook BULSTRAD - VIG, becoming the non-life insurance market leader
by Daniela GHETU, 2018-10-03
In the first half of 2018, the Bulgarian insurance market maintained a growth rhythm close to that established during the previous year, reporting a 7.9% y-o-y increase in GWP, to EUR 627.5 million.
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STATISTICS: BiH, 1H2018: solid business growth despite challenging legal inconsistencies
by Daniela GHETU, 2018-10-03
The Bosnian market saw a consolidated GWP growth rate of 4% y-o-y in 1H2018, to EUR 183.5 million. Of this total, the non-life insurance segment accounts for by far the largest part with over 80%. Moreover, the MTPL insurance class provides for a clear half of the total GWP volume.
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STATISTICS: MACEDONIA,1H2018: improved market profitability, despite higher claims volumes
by Daniela GHETU, 2018-10-04
Macedonian insurers ended 1H2018 with an aggregated GWP volume of EUR 80 million, up 6.7% y-o-y. Most of the market growth came from the non-life insurance segment, namely from MTPL and fire and allied perils insurance lines.
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STATISTICS: POLAND, 1H2018: improved profitability in life insurance despite reduction in GWP
by Daniela GHETU, 2018-10-04
The largest insurance market in the CEE, Poland, ended1H2018 with GWP worth EUR 7.36 billion (PLN 32.12 billion). In local currency, the y-o-y comparison shows a positive rate growth of 1.7%. Yet, given the roughly 3% depreciation of the Polish zloty against Euro, the market results denominated in European currency show a market decrease of 1.4%.
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The 10th International Istanbul Insurance Conference started today
by team, 2018-10-04
In emerging markets like Turkey, there can be a significant difference between insured and total insurable losses. Focusing on closing the protection gap, the 10th International Istanbul Insurance Conference gathers in Istanbul, between the 4th and the 5th of October 2018, well-known speakers from Turkish and the global insurance & reinsurance markets.
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POLAND: Acquisition of Pramerica Zycie TUiR SA by Unum Group complete
by Daniela GHETU, 2018-10-03
Unum Group completed its purchase of Pramerica Zycie TUiR SA ("Pramerica"), a financial protection provider in Poland that will support Unum's long-term growth strategy of protecting more people.
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WIENER STADTISCHE successfully completes its merger with s Versicherung
by Andrei Victor, 2018-10-04
VIENNA Insurance Group said WIENER STADTISCHE officially becomes the largest life insurance company in Austria after WIENER STADTISCHE successfully completes its merger with s Versicherung.
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Flood Re announces reduction in reinsurance premium charges of up to GBP 112
by Daniela GHETU, 2018-10-03
Flood Re has announced that reinsurance premiums it charges to insurers will be reduced starting January 1, 2019. The decision is expected to ease the costs of flood cover for people most at risk of flooding in the UK.
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Unleashing the IoT potential in insurance
by Adina TUDOR, 2018-10-04
The beginning of December marks the 4th edition of FinTech Connect, a full eco-system fintech trade show dedicated to major banks, insurers, capital market firms, and investors.
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NAVYA and AXA create partnership to launch insurance solutions for autonomous vehicles
by Daniela GHETU, 2018-10-03
To mark the opening of the 2018 Paris Motor Show, AXA announced the launch of a 3-year partnership with NAVYA, a leading company in the autonomous vehicle market and smart/shared mobility solutions, to develop insurance solutions tailored to autonomous vehicles.
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ZURICH to acquire Indonesian insurer ADIRA
by Andrei Victor, 2018-10-04
ZURICH Insurance Group announced that it has entered into agreements to acquire 80% of PT Asuransi Adira Dinamika (Adira Insurance), a top 10 property and casualty (P&C) insurer in Indonesia, from PT Bank Danamon Indonesia (Bank Danamon) and a minority investor.
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PIMCO to acquire GURTIN Municipal Bond Management
by Andrei Victor, 2018-10-04
The financial services provider PIMCO, owned by ALLIANZ said that it has agreed to acquire GURTIN Municipal Bond Management - a specialist municipal bond manager.
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AZERBAIJAN: FIMSA expects the market to overcome the last year's result
by Marina MAGNAVAL, 2018-10-04
According to Ibrahim ALISHOV, executive director of the Azerbaijan Financial Market Supervisory Authority (FIMSA), GWP on the Azeri market in 2018 may exceed last year's figure.
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KAZAKHSTAN: number of paid claims went up by more than 2 times y-o-y in the 7 months of 2018
by Marina MAGNAVAL, 2018-10-04
In Kazakhstan in the first 7 months of this year, the total number of paid claims amounted to 385.7 thousand, which is, according to ranking.kz, 2.1 times more y-o-y. The total number of reported claims decreased y-o-y to 117.5 thousand (-9.3%).
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RUSSIA, 1H2018 result: GWP went up by more than 13% while paid claims went down by 14%
by Marina MAGNAVAL, 2018-10-04
Total GWP for the first half year amounted to RUB 731.78 billion (~EUR 10 billion; +13.28% y-o-y in local currency), according to the Central Bank of Russia. Total paid claims went down by 14% to RUB 235.78 billion (EUR 3.2 billion).
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RUSSIA: Victor DUBROVIN appointed as acting general director of SBERBANK Life insurance
by Marina MAGNAVAL, 2018-10-04
Victor DUBROVIN was appointed as the acting general director of SBERBANK Life insurance. Alexey RUDENKO, previous general director, left the position due to transfer to another job, stated the insurer's press service.
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 Ervin KOCI
Executive General Director
Albanian FSA
by Daniela GHETU, 2018-10-04
In May 2018, the Albanian FSA presented their Strategy 2018-2022. The strategy contains also recommendations for legislative amendments. In this framework, the AFSA has drafted a new law Compulsory Insurance on Transport Sector.
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