 TOP
NEWS |
BULGARIA: EUROHOLD turned on profit in 2018
by Andrei Victor, 2019-02-05
Bulgarian EUROHOLD -owner of EUROINS Insurance Group (EIG) - announced in its preliminary financial report for 2018 - a positive financial result in amount of BGN 1.7 million (EUR 871,800) versus a loss of BGN 17.3 million (EUR 8.84 million) for the comparable period last year.
 More
STATISTICS: MONTENEGRO, FY2018: insurers FY2018 GWP - up by 6% y-o-y
by Andrei Victor, 2019-02-07
The gross written premiums of Montenegrin insurers increased to EUR 86.83 million in 2018, up by 6.19% y-o-y, official figures show.
More
STATISTICS: HUNGARY, 2008 - 2017 timeline: back to the 2008 business volume, after the financial crisis' impact
by Cosmin CONCEATU, 2019-02-07
During 2008-2017 the main segments of the Hungarian insurance market - life and non-life insurance -, recorded a U-shape trend, both in written premiums and paid claims terms. Life insurance claims made the only exception from this path, recording a growth trend in the toughest years of the financial crisis.
More
Czech Rep.: SIMPLEA was accepted by CNB to start doing insurance business in 2019 Q2
by Cosmin CONCEATU, 2019-02-05
The newly founded insurance company Simplea was finally licensed by the Czech National Bank to start its activity, and it is expected to start operating in the second quarter of 2019.
More
Czech Rep.: 2018 insurance frauds in Czech Republic, as reported by Allianz, Kooperativa and Generali
by Cosmin CONCEATU, 2019-02-07
Three top Czech insurers have identified fraudulent insurance claims worth CZK 640 million, in 2018. While Prague was the region providing for the highest amount of fraud attempts, the main lines of business affected by the fraudulent behavior of insureds were property, motor and lianility insurance.
More
Czech Republic: the new Insurance Distribution Act is changing insurance distribution
by Marina MAGNAVAL, 2019-02-05
The new Insurance Distribution Act that became effective in the Czech Republic on 1 December 2018, and replaced the still effective Act on Insurance Intermediaries and Loss Adjusters (IILA) has introduced important changes on insurance distribution, as Schoenherr Journal wrote.
More
POLAND: platform for identifying insurance fraud launched by the Insurance Guarantee Fund
by Daniela GHETU, 2019-02-07
Aiming to help all market participants in revealing and preventing insurance fraud, the Polish Insurance Guarantee Fund (UFG) has launched a dedicated platform using advanced technologies.
More
ESTONIA: Road traffic accidents decreased in 2018 according to LKF
by Cosmin CONCEATU, 2019-02-07
During 2018 there were 35,251 road motor incidents in Estonia, the lowest number in the past 4 years. While the number of incidents decreased, the average claim has increased in value by 11,62% compared to 2017.
More
The Estonian Parliament has approved the new law over mutual insurers and insurance cooperatives
by Cosmin CONCEATU, 2019-02-07
The Parliment of Estonia, Riigikogu, has approved the text of the new law on insurance activities. Today, only a few types of companies have the right to do insurance business inside Estonia. The new law will permit specific commercial associations to act as insurers too.
More
SLOVAKIA: The newly announced IPT, in force since 1 January 2019
by Cosmin CONCEATU, 2019-02-05
The new 8% Insurance Premium Tax (IPT) has come into force since January 1st, 2019 in Slovakia, thus putting an end to amore than one year long debate.
More
CYPRUS: Hellenic Bank is to revise its activities in the insurance sector
by Marina MAGNAVAL, 2019-02-07
Hellenic Bank is about to revise its insurance activities to discover the best alternatives for the subsidiary insurance companies, according to the portal insuranceworld.gr of Ethos Media.
More
STATISTICS: GREECE FY2018: Non-life segment maintained the market on ascendant path
by Andrei Victor, 2019-02-07
The insurance market of Greece totaled EUR 3.19 billion at the end of December 2018, up by 1.8% y-o-y, according to the preliminary figures published by the Hellenic Association of Insurance Companies (HAIC).
More
Swiss Re Corporate Solutions launches CyberSolution 360
by Daniela GHETU, 2019-02-07
?
Swiss Re Corporate Solutions expanded its cyber offering by launching?CyberSolution 360
More
Depending on Brexit conditions, EU motorist traveling to the UK may have to buy an extra Green Card policy
by Daniela GHETU, 2019-02-07
The still unclear issue of the Brexit conditions is raising questions not only about the way re/insurers will operate, but also for drivers who will continue travelling between the UK and the EU, as for sure there will be an impact on the way MTPL policies work.
More
The new revenue recognition standard affects the AON Q4 indicators
by Andrei Victor, 2019-02-05
Re/insurance broker AON announced its Q4 revenue decreased USD 139 million to USD 2.77 billion mainly "related to adoption of the new revenue recognition standard", as the company mentioned in a statement.
More
MMC announced increases for annual and quarterly revenues
by Andrei Victor, 2019-02-05
Marsh & McLennan Companies - MMC - announced its Q4 2018 aggregate revenue was USD 3.71 billion (vs. USD 3.68 billion), while the same indicator for FY 2018 was USD 14.95 billion (vs. USD 14.02 billion).
More
MUNICH Re reported 2018 net profit in line with its target and stable pricing at 1 January
by Andrei Victor, 2019-02-07
MUNICH Re informed its Q profits fell by 56% y-o-y to EUR 238 million, impacted by the California wildfires in November and volatile financial markets towards the end of year. The group's FY 2018 net profit of EUR 2.2 billion is in line with its target of EUR 2.1 - 2.5 billion.
More
Hannover Re grows at stable conditions in treaty renewals as at 1 January 2019; Guidance for 2018 and 2019 confirmed
by Daniela GHETU, 2019-02-07
Against a backdrop of modestly improved conditions from an overall perspective, Hannover Re increased its premium volume in traditional property and casualty reinsurance by 15.4% on a currency-adjusted basis to EUR 6.4 billion (EUR 5.6 billion) in the 1 January 2019 treaty renewals.
More
SCOR grows reinsurance premiums 9.7% in a more favorable market; expected profitability stable
by Daniela GHETU, 2019-02-07
SCOR grew P&C reinsurance premiums by 9.7% at constant exchange rates at the January 2019 renewals, to EUR 3.2 billion. The outcome of these renewals is in line with the September update of the group's strategic plan growth assumption for SCOR Global P&C, at 5%-8% p.a.
More
GENERALI to extend its assistance services in US
by Andrei Victor, 2019-02-07
Italian insurer GENERALI informed that its assistance provider in insurance field - EUROP ASSISTANCE -has acquired from Arthur GALLAGHER a 100% stake of TRIP MATE, a managing general agent leader in the tour operator travel insurance market in the United States.
More
The 2nd Summit of National Reinsurers to be organized in St Petersburg, September 19-20
by Daniela GHETU, 2019-02-07
The Russian National Reinsurance Company (RNRC) has the pleasure to invite in St. Petersburg, on September 19-20, 2019 the main insurance and reinsurance companies of the world, to take part in the 2nd Summit of National Reinsurers.
More
The 15th International Risk Management Conference to take on 11-12 April 2019 at The Ritz-Carlton hotel in Almaty, Kazakhstan
by Daniela GHETU, 2019-02-07
The 15th International Risk Management Conference taking place on 11 and 12 April 2019 at The Ritz-Carlton hotel in Almaty, Kazakhstan. Since 2005, this Conference has become a traditional event not only for the insurance sector of the CIS countries, but has also acquired the international status. XPRIMM Publications is a traditional media partner of the event.
More
ARMENIA: the pilot agro insurance program to be launched in March
by Marina MAGNAVAL, 2019-02-07
The pilot agro insurance program will be launched in March, 2019 in 5 regions of Armenia, according to the Deputy Minister of agriculture of Armenia Gegham GEVORGYAN, as ArmInfo wrote.
More Продолжение
AZERBAIJAN: temporary administration institution established in insurance
by Marina MAGNAVAL, 2019-02-07
The presidential decree of Ilham ALIYEV on amending the Law on insurance activity provides for the right of the Financial Market Supervisory Authority of Azerbaijan to introduce temporary administrators in Azeri insurance companies or dismiss their top management from duty, as the news agency Trend wrote.
More Продолжение
KAZAKHSTAN: GWP of the export insurance company KazakhExport in 2018 went up by more than 40% y-o-y
by Marina MAGNAVAL, 2019-02-07
GWP of the export insurance company of Kazakhstan, according to the monitoring agency Finprom.kz, in 2018 amounted to KZT 2.7 billion, which is 40.8% more y-o-y. This is the maximal result ever reached by the company, as Allinsurance.kz wrote.
More Продолжение
KAZAKHSTAN: in 2018 motor insurance generated over 30% of non-life premiums
by Marina MAGNAVAL, 2019-02-07
Based on 2018 result, motor insurance (MTPL and MoD) generated over 30% of non-life GWP. At that, according to the statistics of the National Bank, MTPL segment last year saw a significant concentration growth - TOP-5 generated 66.5% of GWP vs 47.6% in 2017 (total growth of MTPL amounted to 23% y-o-y).
More Продолжение
KAZAKHSTAN: the license of Kompetenz insurance company for re/insurance activity revoked
by Marina MAGNAVAL, 2019-02-07
The National Bank of Kazakhstan revoked the license of Kompetenz for re/insurance activity from February 1, 2019 due to repeated suspension of its license, as Allinsurance.kz informed.
More Продолжение
RUSSIA: in 2018 MTPL accounted for 81.5% of the total volume of complaints against insurers
by Marina MAGNAVAL, 2019-02-07
According to the Bank of Russia, for the first time in the last few years the market has seen a decrease in the number of complaints from consumers of financial services, which was mainly due to a sharp reduction in complaints against MTPL in 2018 by 43.1%.
More Продолжение
RUSSIA: ROSGOSSTRAKH to merge ERGO Life and RGS Life Insurance
by Marina MAGNAVAL, 2019-02-07
ROSGOSSTRAKH has announced its decision to merge life insurers - ERGO Life and RGS Life Insurance, according to the information on the insurer's website, published on January 31.
More Продолжение
UKRAINE: in 2019 limits of MTPL liability to be increased by 30%
by Marina MAGNAVAL, 2019-02-05
By the end of the first quarter of 2019 it is planned to increase MTPL insurance limits for damage to property, life and health caused as a result accidents, as MTIBU informed.
More Продолжение |
| MARKETS&TRENDS |
|
| TOP
EVENT |
Inclusive Insurance - a creative solution to narrow the protection gap in the emerging markets of the Southeastern Europe
by Daniela GHETU, 2019-02-07
Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.
More
|
| INTERVIEW |
 Vusal ABBASOV
CEO, AzRe Reinsurance
Marina MAGNAVAL, 2019-02-07
Adequate knowledge needs to be obtained and implemented to successfully enter new markets. By implementing such careful analyses, we have managed to build a profitable international portfolio in culturally close territories to Azerbaijan, which are CIS and our neighboring countries. We have also managed to build a profitable portfolio in the Middle East and Africa.
More
|
Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna
by Daniela GHETU, 2019-02-07
Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.
More |
| On the move |
Davor TOMASKOVIC takes over CROATIA insurance
by Daniela GHETU, 2019-02-05
CROATIA Osiguranje's Supervisory Board appointed, on 30 January, Davor TOMASKOVIC as a member of the Management Board. Upon completion of the prescribed procedure and regulatory approvals, the Supervisory Board will appoint Davor TOMASKOVIC as President of the company's Board.
More
TURKMENISTAN: new General Director of the State insurance organization appointed
by Marina MAGNAVAL, 2019-02-07
Guvanch NURMUKHAMMEDOV has been appointed as the new General Director of the State insurance organization, the single insurance institute of Turkmenistan, as the State information agency of Turkmenistan wrote.
More Продолжение
ERGO Group appoints a Polish manager
by Daniela GHETU, 2019-02-07
Adam ROMAN, board member of Ergo Hestia (Poland), will hold the position of Head of Global P&C of the ERGO group, effective 1 March. His tasks will include supervision over property insurance of the group in the areas of underwriting, actuarial and pricing, as well as reinsurance.
More
Jad ARISS appointed Secretary General of The Geneva Association
by Daniela GHETU, 2019-02-07
Jad ARISS, currently Group Head of Public Affairs and Corporate Responsibility with AXA, has been appointed Secretary General of The Geneva Association, effective 1 March 2019.
More
Lloyd's of London appoints ALLIANZ's Burkhard KEESE as CFO
by Andrei Victor, 2019-02-07
Burkhard KEESE has been confirmed as the Chief Financial Officer (CFO) of Lloyd's following the unanimous approval of his appointment as successor to John PARRY by the Council of Lloyd's.
More
David DUCLOS appointed Non Executive Chairman of LLOYDS Global Network
by Andrei Victor, 2019-02-07
LLOYD's announced in a statement the appointment of David DUCLOS as Non-Executive Chairman of LLOYD's Global Network, where "he will play a key advisory role in the development of Lloyd's international network. David will take up the position at Lloyd's immediately".
More
ZURICH proposes Michael HALBHERR and Barry STOWE for election to the Group's BoD
by Andrei Victor, 2019-02-07
ZURICH Insurance Group announced that the Board of Directors will propose to elect Michael HALBHERR and Barry STOWE to the Group's Board of Directors. The election will take place at the Annual General Meeting on April 3, 2019.
More
Tom FITZGERALD is leaving AON after 27 years of service
by Andrei Victor, 2019-02-05
The global re/insurance broker AON informed that Tom FITZGERALD is leaving the company after 27 years of service.
More
|
| STATISTIC
UPDATES |
| EVENTS |
IFRS 9 After Implementation In-House Training
Date, venue & schedule - chosen by the applicants
10th Bancassurance Africa Summit 2019
12 - 15 February 2019
Cape Town, South Africa
IIF 2019 - Actuarial Trends in the SEE Region
28 February 2019,
Skopje, Macedonia
Georgian International Insurance Conference
14 March 2019,
Tbilisi, Georgia
IIF 2019 - MOTOR Insurance Conference
8 April 2019
Bristol Hotel, Vienna, Austria
IIF 2019 - Property Conference
9 April 2019
Bristol Hotel, Vienna, Austria
XIII International Conference "Insurance in Central Asia"
9-10 April 2019, InterContinental Hotel, Almaty, Kazakhstan
II International Insurance-Reinsurance Congress
10-12 April 2019, Radisson Hotel, Moscow, Russia
European Consumer Protection Conference
17 May 2019
Intercontinental Hotel, Bucharest, Romania
FIAR 2019 - International Insurance Reinsurance Forum
19 - 22 May 2019
Sinaia, Romania |
| CURRENT
XPRIMM REPORTS |
|
