 TOP
EVENT |
IIF - CEE & SEE Regional Actuarial Insurance Conference, in Skopje: Main conclusions
by Mihaela CIRCU, 2019-02-28
The second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference: Inclusive Insurance took place on 28 February in Skopje. The event was organized by the?Insurance
Supervision Agency of Macedonia and XPRIMM, aiming to involve all the
relevant stakeholders to explore the inclusive insurance concept and
identify the ways actuarial services providers can contribute to
developing this new domain.
The main concept of the conference is that insurance should be accessible to all social classes, regardless of their wealth & income status. Yet, 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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NEWS |
BOSNIA and HERZEGOVINA: New Draft Law proposed by Government will bring changes for local insurance companies
by Cosmin CONCEATU, 2019-02-27
The Government of Republic of Srpska has established a Draft Law on Amendments to the Law on Insurance Companies. The proposed articles will include changes in insurers' internal organization, higher amounts of founding capital required, as well as changes in administrative procedures.
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STATISTICS: CZECH REP., 2008-2017 timeline: Life insurance was the weightiest business line
by Cosmin CONCEATU, 2019-02-27
Between 2008-2017, the Czech insurance industry grew in terms of gross written premiums (GWP) by EUR 836 million (+ 16.5%). Overall, the market increased on all main business lines, with the exception of MTPL, which dropped EUR 6 million (- 0.7%) by the end year.
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STATISTICS: Lithuania: CB forecasts the market will be close to EUR 1 billion at year end following the 2018 results
by Andrei Victor, 2019-02-27
The entire Lithuanian insurance market totaled about EUR 880 million at the end of 2018, 11% more y-o-y, according to the year-end figures recently published on the Central Bank website.
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SLOVENIA: Government pushes forward sale of NLB Vita
by Cosmin CONCEATU, 2019-02-28
Slovenia's Government decided to lift some restrictions over Nova Ljubljanska Banka (NLB), the largest bank in Slovenia, to further advance its privatisation process. NLB Vita, the insurance subsidiary of the NLB Group, could be sold entirely.
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Adriatic Slovenica d.d.'s Fitch rating upgraded from 'BBB-' to 'BBB+'
by Cosmin CONCEATU, 2019-02-27
Adriatic Slovenica's rating was upgraded following the completion of the acquisition process made by Generali Group over the Slovenian insurer. The decision comes after Adriatic Slovenica's Fitch rating was set to Rating Watch Positive (RWP) in May 2018.
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SAVA finalised the aquisition of the two Croation units of ERGO
by Andrei Victor, 2019-02-28
Zavarovalnica SAVA, part of Slovenian re/insurance group SAVA Re, announced it has finalised the aquisition of the two Croatian units of the German insurance group ERGO, part of MUNICH Re: ERGO osiguranje and ERGO zivotno osiguranje.
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CYPRUS: new insurance system for farmers to be launched in 2019
by Marina MAGNAVAL, 2019-02-28
The cabinet of Ministers approved in February, 2019 the creation of a new insurance system for farmers that seeks to offer financial support to producers of all crops, as well as for sheep and goat farmers.
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GREECE: 1993-2018 natural catastrophes report
by Cosmin CONCEATU, 2019-02-28
During 1993-2018, Greece insurers paid EUR 359 million for natural catastrophes claims. The 1999 earthquake was by far the most devastating and costly natural disaster, when a total of EUR 111 million in insurance indemnities were paid to the victims.
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ARMENIA: corporate insurance in 2018 accelerated growth from 8.5% to 28.8%
by Marina MAGNAVAL, 2019-02-28
According to the results of 2018, retail insurance in Armenia amounted to 51.8% or AMD 21.3 billion, while corporate insurance reached 48.2% or AMD 19.7 billion, as data from the Financial Rating of insurance companies of Armenia, prepared by ArmInfo, show.
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AZERBAIJAN: in January local insurers generated GWP 6.5% more y-o-y
by Marina MAGNAVAL, 2019-02-28
For January, 2019, Azeri insurers generated GWP in the amount of AZN 88.2 million (+6.57% y-o-y), according to the Chamber of Supervision of Financial Markets of Azerbaijan.
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AZERBAIJAN: in January local insurers generated GWP 6.5% more y-o-y
by Marina MAGNAVAL, 2019-02-28
For January, 2019, Azeri insurers generated GWP in the amount of AZN 88.2 million (+6.57% y-o-y), according to the Chamber of Supervision of Financial Markets of Azerbaijan.
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RUSSIA: Life GWP went up by almost 33% in 2018
by Marina MAGNAVAL, 2019-02-27
Life GWP in 2018, according to preliminary data, increased by 32.8% to RUB 478 billion, and paid claims in the sector went up to RUB 73.4 billion (+37.5%), Igor YURGENS, the President of the All-Russian Insurance Association (ARIA) announced.
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RUSSIA: in 2018 net profit of INGOSSTRAKH dropped by RUB 4 billion
by Marina MAGNAVAL, 2019-02-28
In 2018, the net profit of INGOSSTRAKH decreased by 38% (from RUB 10.7 billion to RUB 6.7 billion), according to the company's General Director Mikhail VOLKOV.
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STATISTICS: TAJIKISTAN, FY2018: the market went down in both local currency (-0.7%), and in euro (almost 3%)
by Marina MAGNAVAL, 2019-02-27
In 2018, Tajik insurers generated TJS 234.2 in GWP (EUR 21.68 million), the market decreased both in local currency (-0.7%) and in euro (-2.76%), according to market data published by the National Bank of Tajikistan.
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STATISTICS: UZBEKISTAN, FY2018: the market jumped by more than 79% in euro y-o-y
by Marina MAGNAVAL, 2019-02-27
In 2018, the Uzbek insurance market went up by 76.31% y-o-y in local currency, and by 79.01% in euro, due to a more favorable exchange rate at the end of 2018, according to the market data, provided by the Ministry of Finance of the Republic.
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ERGO sold its legal insurace unit in Ireland to ARAG
by Andrei Victor, 2019-02-28
The family-owned insurer based in Dusseldorf, Germany, ARAG Group announced is to launch operations in the Republic of Ireland after it agreed to acquire the local business operations of DAS Legal Expenses Insurance Company Limited in the country which is part of the ERGO Group.
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Global commercial insurance prices rise in Q4 for fifth consecutive quarter
by Andrei Victor, 2019-02-28
Global commercial insurance pricing increased for the fith consecutive quarter in Q4 2018, largely driven by insurance pricing for property, financial and professional LoBs, the latest data published by MARSH show.
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Swiss Re boosts its 2018 profit by 27% despite big claims
by Andrei Victor, 2019-02-27
Reinsurer Swiss Re announced it generated a full-year net income of USD 421 million in 2018. The result includes estimated large claims of USD 3.0 billion, net of retrocession and before tax, which significantly affected both Property & Casualty Reinsurance (P&C Re) and Corporate Solutions' earnings.
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AXA's FY2018 revenue rises 4% y-o-y to EUR 102.87 billion
by Andrei Victor, 2019-02-27
French insurer AXA announced its 2018 gross revenues have crossed the EUR 100 million border reaching EUR 102.87billion (vs.EUR 98.55 billion in 2017) while the year-end net income compressed two-thirds to EUR 2.14 biliion.
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UNIQA looking for investment opportunities after the Group ended year 2018 overcapitalized
by Cosmin CONCEATU, 2019-02-27
UNIQA has around EUR 700-800 million at its disposal to invest in new acquisitons, InsurTech and Fintech. The Group won't expand its business in new countries but will invest instead in the CEE markets where it is already active.
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UNIQA's 2018 net profit improved by EUR 70 million to EUR 243 million
by Andrei Victor, 2019-02-27
Austrian group UNIQA - announced its FY 2018 business increased by 0.3% y-o-y to EUR 5.31 billion. "The solid growth in P&C insurance and health insurance compensated for the decline in life insurance premiums caused by the planned decrease in single premiums in international business", the company pointed out in a statement.
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JLT reported 2018 revenue growth across all divisions
by Andrei Victor, 2019-02-28
Global insurance and reinsurance broker Jardine Lloyd Thompson Group (JLT) has released its preliminary results for the year ended December 31, 2018, before the completion of its sale to Marsh & McLennan Companies (MMC).
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EVENT |
Motor insurance - becoming more financially efficient and consumer friendly
by team, 2019-02-27
Under the strong pressure put by the technological evolution, the motor insurance business is rapidly changing, both in operational terms and, most visible, in the way insurers are interacting with their customers. Step by step, the insurers' relationship with customers evolves from simply indemnifying insureds for the losses suffered because of road incidents, to helping them prevent incidents and rapidly recover after the accidents that couldn't be avoided.
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| On the move |
Swiss Re appointed Anette Bronder as Group COO effective 1 July 2019
by Andrei Victor, 2019-02-27
Global reinsurer Swiss Re informed Anette Bronder has been appointed Group Chief Operating Officer (COO) and member of the Group Executive Committee, effective 1 July 2019, succeeding Thomas Wellauer who will be retiring at the end of June.
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SCOR Global Life announced promotions across Global Markets & Finance teams
by Andrei Victor, 2019-02-28
Paris-based reinsurer SCOR announced a series of senior appointments across its Global Markets and Finance and R&D teams, both part of its SCOR Global Life division.
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Bogdan BICHINET to join GENERALI Romania as CFO
by Andrei Victor, 2019-02-28
Bogdan BICHINET will join the management team of GENERALI Romania as Member of the Board and Chief Financial Officer - CFO starting March 1st, after this week the Board of the Romanian Financial Supervisory Authority (ASF) approved its appointment.
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Bulgaria FSC head resigns, to become the country's EBRD representative
by Andrei Victor, 2019-02-27
The Chair of the Financial Supervision Commission Karina KARAIVANOVA is leaving the post three years earlier after she resigned on February 19 ahead of taking the position as the country's representative at the European Bank for Reconstruction and Development (EBRD) on March 1. She was nominated by the Cabinet to the post in December 2018.
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RUSSIA: Nikolay KLEKOVKIN stepped down from the presidency of Allianz in Russia
by Marina MAGNAVAL, 2019-02-27
On February 19, 2019, Phillip GRONEMEYER was appointed General Director of Allianz in Russia, and Svetlana AMSHANNIKOVA became the new General Director of Allianz Life. Previously both posts were held by Nikolay KLEKOVKIN, according to a press release of the Group.
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RGAX is hosting the third annual "Big Ideas Competition"
by team, 2019-02-27
RGAX, subsidiary of Reinsurance Group of America (RGA), opened invitations for anyone outside insurance and reinsurance field to join Big Ideas Competition. Interested persons can submit their ideas online by March 21, 2019.
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| STATISTIC
UPDATES |
| EVENTS |
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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