 TOP
NEWS |
SLOVENIA: GENERALI completes acquisition of Adriatic Slovenica and quadruples the share it holds in the market GWP
by Daniela GHETU, 2019-02-14
Adriatic Slovenica's acquisition by the GENERALI Group has been completed, the Italian group announced on 13 February.?By this acquisition the Italian group increases its contribution to the market GWP about four times, to aprox. 18%.
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STATISTICS: BALTICS, 2008-2017 timeline: evolution of the regional consolidated results is in line with the CEE average
by Daniela GHETU, Cosmin CONCEATU, 2019-02-14
The Baltic countries - Estonia, Latvia and Lithuania -, have recorded between 2008-2017 a trend similar to the other CEE markets. The same main pattern can be distinguished, splitting the evolution of the market in three periods: decline (2008-2010), recovery (2010-2013) and growth (2013-2017).
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STATISTICS: Estonia, FY2018: Insurers' reorganization in the Baltic region influences the local market dynamic
by Andrei Victor, 2019-02-12
Insurers operating on the Estonian market reported total GWP of EUR 552 million for the financial year 2018, up by 29.2% y-o-y, according to the market data published by the Estonian National Statistics Board.
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STATISTICS: Kosovo: Insurers' net profit more than halves in 2018
by Andrei Victor, 2019-02-12
The insurance market of Kosovo totaled EUR 93.5 million at the end of 2018, 7% more y-o-y, according to data provided by the Central Bank (CBK). Non-life GWP increased by 6.5% y-o-y to EUR 90.5 million, of which EUR 48.6 million related to Domestic MTPL, EUR 7.5 million - Border policies and EUR 34.4 million - other voluntary classes, according to "The Insurance Companies Activity" published by CBK.
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LITHUANIA: Lithuania's credit rating affirmed at A- with a positive outlook
by Marina MAGNAVAL, 2019-02-14
In February, 2019 the international credit rating agency FITCH Ratings, based on the country's sound public finances and strong economic situation, affirmed Lithuania's long-term credit rating at A- with a positive outlook, as the Ministry of Finance of the Republic of Lithuania announced.
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MACEDONIA: Stopanska banka AD began a bancassurance project in collaboration with two large insurance companies from Macedonia
by Cosmin CONCEATU, 2019-02-14
Stopanska Banka has become one of the largest insurance distribution channels in Macedonia, by starting - in the year that marked its 75th annyversary, a partnership with two important life insurers from the local market: CROATIA Insurance and UNIQA.
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TRIGLAV Group wants to expand in Macedonia's pensions insurance market
by Cosmin CONCEATU, 2019-02-14
Slovenia's top insurer Zavarovalnica Triglav plans to expand its activity in the Macedonian private pensions market. The Group is already present on the local insurance market, with two companies.
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SLOVENIA: The new insurance distribution law is officially in force since 31 January 2019
by Cosmin CONCEATU, 2019-02-14
The National Assembly has officially transposed the European directive of insurance distribution in the national law at 31 January 2019. This initiative has come in the context where most European countries have already adopted the directive in their own law system.
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ARMENIA: insurers' dissatisfaction with Armenia's Single Window for Automotive platform is growing
by Marina MAGNAVAL, 2019-02-14
Armenian insurance companies are getting increasingly unhappy with the Armenia's Single Window for Automotive (ASWA) platform, designed for handling vehicle insurance-related cases because of suffering additional losses, as Hayk ARAKELYAN, the head of the Union of Insurance Agents, said.
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AZERBAIJAN: AzSığorta ended 2018 with profit of AZN 4.7 million, capitalization increased by 16% y-o-y
by Marina MAGNAVAL, 2019-02-14
AzSıgorta, which in terms of GWP ranked 8th on the local market in 2018, ended last year with profit of AZN 4.7 million, according to the Chairman of the board of the company, Anar TALYBOV.
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BELARUS: IMKLIVA Insurance received a gold medal as the Brand of the Year 2018
by Marina MAGNAVAL, 2019-02-14
Insurance company IMKLIVA was awarded a gold medal and Grand-Prix at the Brand of the Year 2018 competition, as the Belarusian Association of Insurers informed.
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GEORGIA: mandatory insurance of civil liability of vehicle owners to come into force in July, 2019
by Marina MAGNAVAL, 2019-02-14
A bill, providing for mandatory insurance of civil liability of vehicle owners from July, 2019, soon will be submitted to the Parliament, as the international news agency Sputnik informed.
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KAZAKHSTAN: for January, 2019 vehicle owners issued over 300 thousand of e-policies amid the aging fleet of the country
by Marina MAGNAVAL, 2019-02-14
In Kazakhstan from January 1, 2019 an electronic form of policies was introduced for all types of compulsory insurance (except for insurance of employees against accidents and crop insurance), as allinsurance.kz wrote.
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KYRGYZSTAN: property insurance led 2018 year in GWP and paid claims
by Marina MAGNAVAL, 2019-02-14
The State Service on regulation and supervision of the financial market under the government of the Kyrgyz Republic (supervisor) on February 8, 2019 conducted a meeting of the Executive Council, dedicated to the results of 2018 and tasks for 2019, according to the statement on the official website.
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ERGO sold its non-life business in Russia to RESO-Garantia
by Andrei Victor, 2019-02-14
ERGO Group AG announced the sale of 100% of its non-life business in Russia to RESO-Garantia. The parties have agreed not to disclose details of the purchase price.
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RUSSIA: rating of VSK-Life line confirmed at ruA+
by Marina MAGNAVAL, 2019-02-14
The national rating agency Expert-RA confirmed the rating of VSK-Life line at ruA+, outlook stable, as ASN wrote.
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RUSSIA: RESO-Garantia acquires the Russian non-life insurer of ERGO Group
by Marina MAGNAVAL, 2019-02-14
RESO-Garantia acquires 100% of ERGO (a subsidiary non-life insurer of ERGO Group AG in Russia) from ERGO International AG, as ASN wrote.
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RUSSIA: profit of ROSGOSSTRAKH, according to the preliminary data, in 2018 amounted to RUB 6 billion
by Marina MAGNAVAL, 2019-02-14
Based on the preliminary data, in 2018 profit of ROSGOSSTRAKH for the first time during the last 3 years amounted to RUB 6 billion.
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UKRAINE: 63% of complaints in 2018 were about MTPL
by Marina MAGNAVAL, 2019-02-14
According to the National Financial Services Committee, the number of complaints regarding insurance activities in 2018 remained almost unchanged (5381 vs 5389 in 2017). At that the major part (63%) of the complaints were about MTPL, as Forinsurer wrote.
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UZBEKISTAN: GWP of O'zbekinvest Hayot in 2018 amounted to UZS 101.2 billion, preliminary data show
by Marina MAGNAVAL, 2019-02-14
According to the preliminary data, GWP growth rate of O'zbekinvest Hayot in 2018 amounted to 59% (UZS 101.2 billion), as the information agency UzReport wrote.
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UZBEKISTAN: MOI insurance broker to open an office in the country
by Marina MAGNAVAL, 2019-02-14
MOI Insurance broker, one of the leaders in risk management, is opening a representative office in Uzbekistan - -MOI Insurance Brokers Asia, according to the Ministry of Finance of the country.
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TALANX FY2018 net income beat year-end outlook depite large losses in industrial fire LoB
by Andrei Victor, 2019-02-12
Hannover-based insurer TALANX Group informed it has achieved FY2018 Group net income of EUR 703 million vs. EUR 670 million a year before, in line with "the outlook of around EUR 700 million published in October 2018".
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ZURICH FY2018 BOP up by 20% to USD 4.6 billion and NIAS was up by 24% to USD 3.71 billion
by Andrei Victor, 2019-02-12
ZURICH Insurance Group reported 2018 BOP of USD 4.56 billion vs. USD 3.80 billion a year before, while the net income after tax attributable to shareholders (NIAS) was up by 24% to USD 3.71 billion.
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| MARKETS&TRENDS |
BI non-physical losses: the UK solution
by Daniela GHETU, 2019-02-14
With the Royal Assent being given to the Counter-Terrorism and Border Security Bill 2018 - allowing Pool Re to cover non-physical losses incurred following a terrorist attack -, the British market has set a precedent at global level, by finding solving a challenging issue born by the changed character of the terrorist attacks of the recent years.
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| TOP
EVENT |
Inclusive Insurance - a creative solution to narrow the protection gap in the emerging markets of the Southeastern Europe
by Daniela GHETU, 2019-02-14
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.
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| INTERVIEW |
 Alexander ZALETOV
Member of the National Financial Services Committee of Ukraine
by Marina MAGNAVAL, 2019-02-14
The National Financial Services Committee developed this year the draft laws of Ukraine “On creation of a guarantee system for insurance indemnities under life insurance contracts” and “On compulsory civil liability of vehicle owners” and is planning to register the laws at the Verkhovna Rada of Ukraine. In addition, one of the priority tasks is development of the draft law of Ukraine "On insurance distribution”, which should bring into order activities of intermediaries on the insurance market.
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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.
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| On the move |
| 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 |
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