 TOP
NEWS |
STATISTICS: BULGARIA, 2008-2017 timeline: claims went up at a double pace than GWP
by Daniela GHETU, Cosmin CONCEATU, 2018-12-06
The Bulgarian insurance market saw a 21.5% increase in GWP volume throughout between 2008 and 2017, the 10 years for which xprimm.com statistical database in presenting market results. The MTPL insurance class had the largest contribution, in absolute terms, to the market growth.
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STATISTICS: SERBIA, 3Q2018: Top 5 insurers covered about 80% of total market
by Andrei Victor, 2018-12-05
In 3Q2018, the Serbian insurance market totaled RSD 74.6 billion (EUR 630 million), representing an increase of 5.2% on a year earlier, according to the statistics published by the National Bank of Serbia (NBS).
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Nine Romanian MTPL insurers fined for violation of the competition regulations; legal action against the sanction will follow
by Daniela GHETU, 2018-12-06
Nine Romanian MTPL insurers and UNSAR, the insurers' association, were fined by the national Competition Council with total fines of approx. EUR 53 million for violation of the national and European competition regulations by coordinating market behavior to increase compulsory MTPL insurance charges.
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STATISTICS: ESTONIA, 3Q: Motor and property policies accounted for 70% of the market's GWP
by Andrei Victor, 2018-12-05
Estonian insurance market totaled EUR 357 million at the end of September 2018, up by 13.7% y-o-y, according to quarterly market figures published by the Estonian National Statistics Board.
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CIG Pannonia Life Insurance raised capital by about EUR 4.63 million
by Daniela GHETU, 2018-12-06
The board of CIG Pannonia Life Insurance decided on 28 November to raise
capital at its general insurance unit by HUF 1.5 billion (~EUR 4.63
million) and modify the unit's dividend policy, Hungarian news agency
MTI reports.
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GENERALI completes the acquisition of CONCORDIA companies
by Andrei Victor, 2018-12-05
Italian insurer GENERALI announced it entered into the final agreement to acquire full control of the Polish insurers CONCORDIA Capital (life insurance) and CONCORDIA Polska TUW (non-life insurance) from their German shareholders CONCORDIA Versicherung and Vereinigte Hagelversicherung.
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A.M. Best upgrades credit ratings of SAVA Re, d.d. to "A" (outlook stable)
by Daniela GHETU, 2018-12-06
A.M. Best has upgraded the Financial Strength Rating to A (Excellent) and the Long-Term Issuer Credit Rating to "a" of Slovenian Pozavarovalnica SAVA d.d. (SAVA Re), the parent company of the SAVA Re Group. The outlook of these Credit Ratings (ratings) is stable.
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Five CEE re/insurers have an "A" rating from A.M. Best
by Daniela GHETU, 2018-12-06
Among the re/insurance companies rated by A.M.Best there are 23 entities domiciled in the CEE, SEE and CIS regions. Out of this total, 5 companies have an "a" Issuer Credit Rating (ICR) and an "A" Financial Strength Rating (FSR)
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A.M. Best has affirmed credit ratings of Slovenian TRIGLAV and TRIGLAV Re
by Daniela GHETU, 2018-12-06
A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" of Zavarovalnica TRIGLAV, the parent company of the Slovenian TRIGLAV Group, and Pozavarovalnica TRIGLAV Re, a wholly owned subsidiary of TRIGLAV.
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A.M. Best affirms credit ratings of Colonnade Insurance S.A.
by press.release, 2018-12-06
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" of Colonnade Insurance S.A. (Colonnade) (Luxembourg), a member of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada) group of companies.
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A.M. Best announces ESMA registration for new Amsterdam office
by press.release, 2018-12-06
A.M. Best has announced that it has been registered as a credit rating agency (CRA) by the European Securities and Markets Authority (ESMA) to provide ratings through its new subsidiary, A.M. Best (EU) Rating Services B.V., based in Amsterdam, the Netherlands.
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A.M. Best removes from under review with negative implications and affirms credit ratings of Sirius International Group, Ltd.
by Marina MAGNAVAL, 2018-12-06
On November 29 A.M. Best removed from under review with negative implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a" of Sirius Bermuda Insurance Company Ltd., Sirius International Insurance Corporation (Sweden) and its subsidiary, Sirius America Insurance Company (New York).
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ZURICH is on 2017-2019 track to achieve its financial targets
by Andrei Victor, 2018-12-06
Zurich Insurance Group is fully delivering on its 2019 financial targets and is well positioned to deliver future earnings growth and attractive shareholder returns, as the company announced in a statement.
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GENERALI Acquires Alternative Asset Management Firm from Bank of America
by Andrei Victor, 2018-12-06
Italian insurer GENERALI has acquired CM Investment Solutions Limited (CMISL), from Bank of America Merrill Lynch. Details of the transaction were not disclosed.
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AZERBAIJAN: the market y-o-y growth exceeded 33% as of the end of October
by Marina MAGNAVAL, 2018-12-05
GWP of Azerbaijani insurance companies in January-October 2018 amounted to AZN 617.2 million (+33.4% y-o-y), according to the report of Azerbaijan's Financial Market Supervisory Authority (FIMSA).
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AZERBAIJAN: Xalq Hayat Sigorta may become a new life insurer
by Marina MAGNAVAL, 2018-12-05
Insurance company Xalq Hayat Sigorta was registered on November 23 and has applied to Azerbaijan's Financial Market Supervisory Authority (FIMSA) for obtaining an insurance license, the news agency Trend wrote.
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BELARUS: market share of voluntary insurance for 10 months went up to almost 60% y-o-y
by Marina MAGNAVAL, 2018-12-06
For January-October 2018 GWP of the local insurers amounted to BYN 1.01 billion. Growth rate reached 16.7%, according to the data, published by the Ministry of finance of Belarus.
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KAZAKHSTAN: EURASIA keeps about a quarter of total assets and almost 44% of total profit of the insurance sector
by Marina MAGNAVAL, 2018-12-06
In October the insurance market saw positive growth in terms of total assets and capital: assets increased by 0.2% to KZT 990.4 billion, total capital went up by 0.1% to KZT 462 billion, as allinsurance.kz informed.
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RUSSIA: MTPL combined loss ratio as of the end of the 3rd quarter dropped by more than 40%
by Marina MAGNAVAL, 2018-12-05
Based on the report on financial stability for the 2nd and 3rd quarters, prepared by the Bank of Russia, MTPL combined ratio dropped to 79.2% (vs 119.9% a year ago).
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RUSSIA: Bank of Russia approved the expansion of MTPL tariff corridor
by Marina MAGNAVAL, 2018-12-05
The Regulation providing for the expansion of the base MTPL tariffs by 20% up and down was approved by the Bank of Russia, ASN reported. The new tariff corridor will be within RUB 2,746 - 4,942 (instead of the existing RUB 3,432 - 4,118).
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RUSSIA: for 9 months return on equity on TOP-5 insurers amounted to 40.6%
by Marina MAGNAVAL, 2018-12-05
According to the financial results as of the end of the 3rd quarter, the return on equity of TOP-5 Russian insurers amounted to 40.6%, the report on financial stability prepared by the Bank of Russia shows.
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| MARKETS&TRENDS |
| On the move |
Wolfgang STOCKMEYER appointed as VIG's BTA Baltic new Board Chairman
by Andrei Victor, 2018-12-05
Wolfgang STOCKMEYER (49) has been appointed, on 30 November 2018, Chairman of the VIG's subsidiary BTA Baltic Management Board, as part of a series of changes in the composition of its Management Board operated by the main player of Austrian Group in the Baltic region.
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AEGON appointed new Head of Corporate Communications
by Andrei Victor, 2018-12-05
Frans de BEAUFORT has been appointed as the new Head of Corporate Communications at AEGON as of December 1, the as the Dutch financial group announced in a press release.
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American International Group appoints new CFO
by Andrei Victor, 2018-12-06
American International Group announced that it has appointed Mark LYONS to the role of Executive Vice President & Chief Financial Officer (CFO). He succeeds Sid SANKARAN, who will remain at AIG in an advisory capacity through the year-end reporting process for fiscal year 2018.
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MetLife named its EMEA head as CEO of Japan unit
by Andrei Victor, 2018-12-06
MetLife announced that Eric CLURFAIN, currently Executive Vice President and Head of EMEA, has been named Chairman, President and CEO of MetLife Japan - the company's second largest market globally and its largest retail life insurance business, effective Feb. 1, 2019, following approvals.
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Swiss Re Corporate Solutions appoints Head of Excess & Surplus North America
by Andrei Victor, 2018-12-06
Swiss Re Corporate Solutions appointed Daniel VETTER as Head Excess & Surplus North America, effective January 1, 2019, as the company announced in a press release.
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IFRS 9 After Implementation In-House Training
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28 February 2019,
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3 April 2019 Bucharest, Romania
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8 April 2019
Bristol Hotel, Vienna, Austria
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Bristol Hotel, Vienna, Austria
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