 TOP
NEWS |
VIG expands in Poland by acquiring stake in insurance association "TUW"
by Cosmin CONCEATU, 2019-02-20
Vienna Insurance Group (VIG) has purchased the entire stake of France's MACIF-Group in TUW "TUW" through InterRisk Group company. This operation will increase the VIG's share in Polish non-life market to 7%, getting VIG closer to its 10% market share medium term goal.
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BOSNIA and HERZEGOVINA: GWP of ASA Osiguranje in 2018 went up by more than 20%
by Marina MAGNAVAL, 2019-02-20
ASA Osiguranje, one of the youngest insurance companies in Bosnia, which was established in 2007 and is part of the ASA Group, ended 2018 with positive results (~+20%), and, according to the General Director Feda MORANKIC, the same positive trend is expected in 2019.
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BULGARIA: Only 14.5% of homes covered by property insurance
by Cosmin CONCEATU, 2019-02-21
While residential real estate in Bulgaria has expanded in recent years, the property insurance market remains underdeveloped, well below its true potential.
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STATISTICS: Czech Rep., FY2018: 4% market growth driven by the motor insurance lines
by Daniela GHETU, 2019-02-21
Czech insurers ended 2018 with a 4.1% y-o-y increase in GWP, to EUR 5.03 billion. Most of the market growth was owed to the higher growth rates seen on the motor insurance lines, data provided by CAP - the Czech Insurance Association show.
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HUNGARY: Local insurers paid nearly HUF 40 billion for fire damage in the past 8 years
by Cosmin CONCEATU, 2019-02-21
According to the Association of Hungarian Insurance Companies (MABISZ), between 2010 and 2017, Hungarian insurers paid aprox. HUF 40 billion for a total of 50,000 reported fire incidents. 2012 was the most severe year, with fires causing HUF 10 billion in damage.
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LATVIA: 2018 MTPL results were positive for insurers
by Cosmin CONCEATU, 2019-02-21
Data collected by the Latvian Motor Insurers' Bureau (LTAB) shows that the 9 MTPL insurers from Latvia earned EUR 3.61 million revenues from this business line. It is the first time in the past 10 years when Latvian MTPL insurers profited from this type of business line.
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LATVIA: Tax reform slowed down life insurance in 2018
by Cosmin CONCEATU, 2019-02-21
Insurance market premiums in 2018 increased by 11.3% overall compared to 2017. Life insurance as a whole remains the most important insurance group, but its recorded evolution shows near stagnation.
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LITHUANIA: Property insurance disputes raised by 28% in 2018
by Cosmin CONCEATU, 2019-02-21
The number of disputes between insurers and customers has raised mainly due to the low degree of customers' understanding over their insurance products, an analysis over the property insurance market recently published by Bank of Lithuania says.
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STATISTICS: SERBIA, 2008-2017 timeline: life insurance has doubled its share in the market portfolio
by Cosmin CONCEATU, 2019-02-21
Serbia was one of few CEE insurance markets where the 2008 economic crisis was tackled with little sacrifice to market growth. The industry grew to EUR 195 million (+33%) from 2008 to 2017.
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TURKEY: The number of registered vehicles increased 2.91% by the end of 2018
by Cosmin CONCEATU, 2019-02-21
According to official statistics published by The Turkish Statistical Institute, at the end of 2018 there were 22,865,921 road motor vehicles registered in Turkish territory, an increase of 646,976 units (a +2.91% change) from 2017.
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STATISTICS: ARMENIA, FY2018: insurers' total net profit down by 67.6%y-o-y due to fast increasing claims expenses
by Marina MAGNAVAL, 2019-02-21
Armenian insurers' GWP reached AMD 41 billion (EUR 74 million) in 2018, according to data provided by ArmInfo. Denominated in local currency, the market's growth seems lower than in euro due to the Armenian dram appreciation (17.36% vs 22.97% in euro).
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RUSSIA: total amount of earned reinsurance premiums of RNRC in 2018 is almost 3 times higher y-o-y
by Marina MAGNAVAL, 2019-02-20
"The Russian National Reinsurance Company (RNRC) has announced its results for 2018. Under reinsurance contracts in 2018 RNRC received RUB 12.1 billion of GWP (+58% y-o-y). Total amount of earned premiums exceeded RUB 11 billion (almost 3 times higher y-o-y)", according to the company's official statement.
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RUSSIA: MTPL average premium down by 7% in the regions generating about 90% of the segment's business
by Marina MAGNAVAL, 2019-02-20
According to the Russian Association of Motor Insurers (RAMI), from January 1, 2019 to February 10, 2019 the average MTPL premium amount for cars dropped by 7% in 61 regions, generating in total almost 90% of all MTPL policies.
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AXA has completed the sale of its Ukrainian units
by Andrei Victor, 2019-02-20
The French insurer AXA Group announced it has successfully completed the deal with FAIRFAX Financial Holdings Limited (Canada) to sell its Ukrainian units - the non-life entity (AXA Insurance) and life entity (AXA Insurance Life) - both based in Kyiv, as the Paris-based insurer has said in a statement.
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How can you set up a successful Bancassurance strategy?
by Adina TUDOR, 2019-02-20
Between 12 and 14 June, the "Bancassurance Asia Masterclass 2019 June" gathers together Managing Directors, Directors, Heads of Departments, Managers & Senior Executives activating in Bancassurance. The event is supported by XPRIMM Publications as Media Partner.
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AXA XL to cut over 700 jobs in Europe
by Andrei Victor, 2019-02-20
AXA XL has presented the plan for its future target operating model and organizational structure of the business, which includes the reduction of 711 positions in Europe, out of a workforce of 9500 employees globally.
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ALLIANZ reported highest net income in the last decade
by Andrei Victor, 2019-02-20
German insurer ALLIANZ announced its FY2018 total revenues grew by 3.5% y-o-y, to EUR 130.6 billion, while the operating profit was up by 3.7% to EUR 11.5 billion "in the upper end of the Group's announced target range of EUR 10.6 billion to EUR 11.6 billion and the highest in our history".
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SCOR, FY2018: net income of EUR 322 million and 7% raise in GWP
by Daniela GHETU, 2019-02-20
The French re/insurance group SCOR has recorded GWP worth EUR 15,258 million in 2018, up 7.1% at constant exchange rates compared to 2017 (+3.2% at current exchange rates), a growth well balanced between the Life and P&C divisions and a "first" in its history.
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| On the move |
GRAWE Hrvatska: Natasa KAPETANOVIC to be the new President of the Management Board
by Daniela GHETU, 2019-02-21
After almost 20 years in the positions of member and President of the GRAWE Hrvatska Management Board, Igor PURETA will leave the company at the expiration of his mandate, on April 2. He will be replaced by Natasa KAPETANOVIC, member of the Management Board since 2010.
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Supervisory Board Chair NN Group steps down
by Andrei Victor, 2019-02-20
NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.
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Jean-Paul CONOSCENTE promoted to CEO of SCOR Global P&C and will join SCOR's executive committee
by Daniela GHETU, 2019-02-20
SCOR announced it has appointed Jean-Paul CONOSCENTE, currently CEO of Reinsurance at SCOR Global P&C, as Chief Executive Officer of SCOR Global P&C. Jean-Paul CONOSCENTE will also join the Group's Executive Committee. This appointment is effective April 1, 2019.
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| TOP
EVENT |
Inclusive Insurance - just a week to the second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference in Skopje
by Daniela GHETU, 2019-02-20
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 |
 Rustam MAMEDOV
General Director, Asia Insurance (Uzbekistan)
by Marina MAGNAVAL, 2019-02-21
Last year was quite successful for our company. We keep positive dynamics, which is clearly demonstrated by our performance results. The growth of voluntary and mandatory types amounted to 160.5% y-o-y. Property insurance types are growing, which is improving stability of our portfolio. We can also point out positive situation in voluntary property insurance, mortgage property insurance and motor insurance.
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Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna
by Daniela GHETU, 2019-02-21
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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| 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 |
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