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NEWS |
STATISTICS: CEE, 1H2018: growing on non-life, thanks to the motor insurance lines
by Daniela GHETU, 2018-10-18
Overall, the CEE insurance market saw a 2% growth in GWP, to EUR 18.67 billion, the largest contributions to the upswing trend being provided by Slovenia, the Czech Republic, Croatia, Latvia and Lithuania.
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ROMANIA: Watford Insurance, officially the newest player in local insurance market
by Daniela GHETU, 2018-10-17
WATFORD Insurance Company Europe (WATFORD Insurance) officially launched itself in the Romanian insurance market through an event organized on 17 October in Bucharest, with the participation of its partners and collaborators.
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The distribution partnership between ALLIANZ and UniCredit comes alive in Bulgaria
by Daniela GHETU, 2018-10-17
Allianz Bulgaria has officially started its distribution agreement with UniCredit Bulbank. Thus, since the beginning of October the life and property insurance products of Allianz will be available at the UniCredit Bulbank's counters across Bulgaria.
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Swiss Re estimates 3Q Nat Cat claims burden at ~USD 1.1 billion with large man-made catastrophes reaching ~USD 300 million
by Alana MCKENZIE, 2018-10-18
Swiss Re estimates its preliminary combined claims burden from large natural catastrophes at approximately USD 1.1 billion, net of retrocession and before tax, and expects large man-made catastrophes to lead to a pre-tax claims burden of approximately USD 300 million.
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TALANX decreases its anticipated FY2018 Group net income to EUR 700 million
by Andrei Victor, 2018-10-18
The German TALANX Group announced it is assuming a large-loss burden for Industrial Lines after more than EUR 260 million in nine months. This is likely to have already exceeded the large loss budget for the entire year in Industrial Lines on September 30, 2018.
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Hannover Re's fifth cat bond transaction raises total issuance for clients to USD 1.5 billion in 2018
by Daniela GHETU, 2018-10-17
Hannover Re has completed the fifth catastrophe bond transaction for clients this year, raising the total issuance volume to USD 1.5 billion in 2018. For the year end, the reinsurer expects the ILS market to reach a total volume of close to USD 100 billion.
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TRUST Re, 1H2018: 13% y-o-y growth in premiums and claims settled, exceeding USD 300 million
by Daniela GHETU, 2018-10-18
TRUST Re has announced a 13% y-o-y growth in premiums for 1H2018 and a combined ratio of 96.5%, down from 98.9% a year ago, reaffirming its sound and steady reputation among the company's long list of loyal customers.
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Facing Brexit, AXA XL receives approval for European headquarters in Dublin
by Alana MCKENZIE, 2018-10-18
In anticipation of the UK's exit from the EU in March 2019, the French AXA Group has received authorization from the Central Bank of Ireland to move the operations of its European subsidiary XL Insurance Company SE (XLICSE) to Dublin.
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Masar Al-MOSAWI is the winner of the 5th annual Actuarial Prize awarded by SCOR Sweden Re
by Daniela GHETU, 2018-10-18
The 5th SCOR Sweden Re Actuarial Prize was awarded to Lansforsakringar Fondliv Actuary Masar Al-MOSAWI, during the Nordic Life Insurance Conference in Stockholm on October 12, 2018.
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US antitrust approval granted for MMC's acquisition of JLT Group
by Andrei Victor, 2018-10-18
Marsh & McLennan Companies (MMC) and Jardine Lloyd Thompson Group (JLT) have confirmed that October 10 the Federal Trade Commission (FTC) granted early termination for the waiting period under the Hart-Scott-Rodino Act, with respect to MMC's previously announced acquisition of JLT.
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AZERBAIJAN: Agro insurance and insurance against accidents at work may contribute to market development in 2019
by Marina MAGNAVAL, 2018-10-18
The Azeri insurance market will undergo changes that lead to a decrease in premiums on certain types of insurance next year, said Chairman of the Azerbaijan Insurers Association (AIA) Mustafa ABBASBAYLI. Agro insurance and insurance against accidents at work may contribute to market development.
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KAZAKHSTAN: GWP decrease of 1.2% y-o-y for Jan-Aug, while paid claims went up by 5.6%
by Marina MAGNAVAL, 2018-10-18
For the first 8 months of this year, total market GWP amounted to KZT 263.5 billion/~EUR 0.62 billion (- 1.2% y-o-y). Paid claims exceeded KZT 61.9 billion (~EUR 0.14 billion), with a y-o-y increase of 5.6%, reported allinsurance.kz.
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Russia: ERGO to sell its life unit to ROSGOSSTRAKH
by Andrei Victor, 2018-10-18
ROSGOSSTRAKH, one of the largest Russian non-life insurers is set to buy the local life insurance unit of German reinsurer MUNICH Re - ERGO Life, in a move to re-enter the life insurance segment.
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RUSSIA: S&P raised ROSGOSSTRAKH's rating to B+ with a stable outlook
by Marina MAGNAVAL, 2018-10-17
The rating agency S&P improved ROSGOSSTRAKH's long-term credit rating in local currency from B to B+, the forecast was also changed from positive to stable, stated ASN portal.
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RUSSIA: based on 1H2018 results, average Motor Hull policy cost fell to the lowest level in 6 years
by Marina MAGNAVAL, 2018-10-17
According to the first half year result, the average Motor Hull policy in Russia fell to the lowest cost in the past 6 years, meaning RUB 34,800, reported RBK.
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RUSSIA: The State Duma Committee recommended cancelling prohibition on reinsurance of MTPL risks
by Marina MAGNAVAL, 2018-10-17
The State Duma Committee on Financial Market recommended a bill to cancel the prohibition on reinsurance of MTPL risks, as well as to include information about MTPL reinsurance contracts in the data transferred by insurers to the automated data system, reported ASN portal.
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RUSSIA: VTB and SOGAZ merger to be complete in October
by Marina MAGNAVAL, 2018-10-17
According to the Head of VTB, Andrey KOSTIN, the merger of insurance businesses VTB and SOGAZ may be completed in October this year. As KOSTIN said, the parties already agreed on all issues in the merger.
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UZBEKISTAN: Asia Insurance achieves premium growth of 150.3% compared to previous year
by Alana MCKENZIE, 2018-10-17
The ASIA INSURANCE company achieved substantial growth in financial and economic performance indicators for the first 8 months of 2018. Insurance premium growth amounted to 150.3% compared to the same period last year.
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EVENT |
Five new XPRIMM insurance reports to be launched in Baden Baden?
by Daniela GHETU, 2018-10-11?
Five new titles will be available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.
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| INTERVIEW |
 Peter HOEFINGER
Member of the Managing Board
VIG - Vienna Insurance Group
by Mihaela CIRCU, 2018-10-18
Almost 30 years ago, VIG was the first company to enter the CEE market, by setting up a company in Bratislava. Nowadays, VIG is present in 25 countries through about 50 companies, with around 25,000 employees, generating premiums of 9,5 billion EUR. At the same time, the CEE countries contribute to more than 50% of our premiums and more than 50% of our profit. We see high potential on account of the very positive economic prospects for Central and Eastern Europe.
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Fausto PARENTE, Ante ZIGMAN and William VIDONJA - keynote speaker at the "Croatian Insurance Days"
by Daniela GHETU, 2018-10-18
Fausto PARENTE, Executive Director, EIOPA, Ante ZIGMAN, DSc, President of the Management Council, Croatian Financial Services Supervisory Agency and William VIDONJA, Head of Conduct of Business, Insurance Europe are the keynote speakers at the 2018 edition of "Croatian Insurance Days".
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