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NEWS |
MMC completes acquisition of JLT
by Andrei Victor, 2019-04-04
Marsh & McLennan Companies (MMC) announced the completed the acquisition of Jardine Lloyd Thompson Group plc (JLT) for USD 5.6 billion in fully diluted equity value. A week ago, the European Commission gave the green light for the transaction.
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GENERALI to take over ERGO units in Hungary and Slovakia
by Andrei Victor, 2019-04-04
Italian insurer GENERALI announced signing an agreement to take over the entire life, non-life and composite insurance portfolios of three entities of ERGO International AG in Hungary and Slovakia. The sale is subject to certain regulatory and anti-trust approvals, as is customary for transactions of this kind. The parties have agreed not to provide details of the purchase price and other terms.
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ALBANIA: AMF introduces MTPL Bonus-Malus system
by Cosmin CONCEATU, 2019-04-04
The Albanian Financial Supervisory Authority (AFSA) has approved sets of instructions for Bonus-Malus system implementation. The Bonus-Malus system will begin to function in Albania starting April 1, 2019.
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BULGARIA: Eurohold submits a binding offer to acquire CEZ Group's assets in Bulgaria
by Marina MAGNAVAL, 2019-04-04
On April 1, financial and insurance group Eurohold Bulgaria announced its binding offer for the Bulgarian assets of Czech energy group CEZ, the largest public holding company in the country and one of the leading independent business groups in Central and Southeastern Europe, Eurohold said in an official statement.
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HUNGARY: New regulations for unit-linked policies
by Cosmin CONCEATU, 2019-04-04
New amendments from the Hungarian Ministry of Finance on unit-linked life insurance will come into force on July 1, 2019. The adjustment of the Insurance Activities Act creates new obligations for insurers.
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STATISTICS: KOSOVO, 2008-2017: From MTPL exclusive to a more diverse market
by Cosmin CONCEATU, 2019-04-04
Between 2008-2017, Kosovo non-life insurance market increased by EUR 28.5 million (+50.6%) in terms of GWP. Paid claims volume rose as well, with Kosovo recording an increase in claims by EUR 24.5 million (+138.4%).
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STATISTICS: LATVIA, FY2018: Insurer profits decreased by one fifth
by Andrei Victor, 2019-04-04
Last year, insurance companies in Latvia generated EUR 12.4 million in aggregate profit, down 22.6% from 2017, according to the data released by the Financial and Capital Market Commission, FKTK.
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TRIGLAV allocates 70.3% of 2018 net profit to dividend payments
by press.release, 2019-04-04
At the the General Meeting of Shareholders, the Supervisory Board and the Management Board of Zavarovalnica Triglav will propose the allocation of EUR 56.8 million to dividend payments, or EUR 2.50 gross per share for 2018.
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SCOR completes the merger of its three SE legal entities
by Andrei Victor, 2019-04-04
SCOR Global Life SE and SCOR Global P&C SE merged into SCOR SE on March 31, 2019, as the Paris-based reinsurer announced in a statement.
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STATISTICS: CYPRUS, FY2018: Insurance market expanded by 7% y-o-y
by Andrei Victor, 2019-04-04
The insurance market of Cyprus totaled about EUR 871.5 million at the end of 2018, up by 7% y-o-y, according to year-end market figures published by the Insurance Association of Cyprus, IAC.
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ARMENIA: court rejects ROSGOSSTRAKH in the claim for returning RGS-Armenia
by Marina MAGNAVAL, 2019-04-04
The Arbitration Court of the Moscow Region rejected ROSGOSSTRAKH's request to cancel the transaction of the sale of 100% shares of the subsidiary insurer RGS-Armenia to the Cypriot Company Cimarex Management Limited, as reported by TASS Russian News Agency.
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AZERBAIJAN: Xalq Life Insurance becomes 4th life insurer in the country
by Marina MAGNAVAL, 2019-04-04
The Azerbaijan's Market Supervisory Authority (FIMSA) approved the license of Xalq Life Insurance for insurance activity on March 27, Trend reported.
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KAZAKHSTAN: agroinsurance goes from compulsory to voluntary
by Marina MAGNAVAL, 2019-04-04
The agroinsurance system of Kazakhstan will undergo a radical change - transition from compulsory to voluntary, and from subsidized indemnities to subsidized premiums, Allinsurance.kz reports with a reference to the Ministry of Agriculture.
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KAZAKHSTAN: in Jan-Feb the market grew by more than 18%
by Marina MAGNAVAL, 2019-04-04
According to the National Bank of Kazakhstan, GWP of the market, as of March 1, 2019, increased by 18.8% y-o-y, to KZT 91.9 billion, as Allinsurance.kz reports.
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RUSSIA: national rating of SBERBANK Insurance upgraded to ruAAA
by Marina MAGNAVAL, 2019-04-04
The national rating agency Expert RA raised the rating of SBERBANK Insurance to ruAAA, outlook stable. Previously, the insurer's rating was ruAA+, outlook positive, ASN reports.
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UKRAINE: GWP of VUSO increased by 45% in 2018
by Marina MAGNAVAL, 2019-04-04
GWP of VUSO insurance company increased by 45% to UAH 724.9 million, and paid claims rose by 24%, to UAH 197.44 million in 2018.
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UKRAINE: MTIBU: 2018 was a record year in terms of MTPL paid claims
by Marina MAGNAVAL, 2019-04-04
According to MTIBU (Motor Transport Insurance Bureau of Ukraine), in 2018, MTPL GWP increased by 20% to UAH 4.5 billion, and the number of contracts went up by 4.2% y-o-y.
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UZBEKISTAN: Uzagrosug'urta awarded best insurance company of the year
by Marina MAGNAVAL, 2019-04-04
On March 29, 2019, at the XI Tashkent International Conference on Insurance and Reinsurance a national insurance award ceremony (Golden Umbrella award) was held, as UzReport informed.
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UZBEKISTAN: INGOSSTRAKH: Uzbekistan has great potential for insurance market development
by Marina MAGNAVAL, 2019-04-04
Within the framework of the International Financial and Banking Forum of CIS member states, held in Tashkent March 27-31, INGOSSTRAKH and INGO Uzbekistan (part of the INGO Group) held a press-briefing on the development of Russian-Uzbek insurance relations, the news agency UzReport wrote.
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Insurtech and technological advances offer growth opportunities for the global mutual insurance sector
by Adina TUDOR, 2019-04-04
Representatives of A.M. Best presented a macro view of all the technological advances that will likely have a significant impact on the global insurance industry during "The next 25 years in insurance" webinar organized, at the end of March, by ICMIF - International Cooperative and Mutual Insurance Federation.
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Interview with Jonathan LARSEN: The vision behind Ping An's success story. Meet him at DIA Amsterdam 2019. XPRIMM readers get a discount!
by Adina TUDOR, 2019-04-04
Between 25 and 27 June 2019, insurance pioneers from all continents connect and get inspired at DIA Amsterdam 2019. The event, supported by XPRIMM Publications as Media Partner, brings into debate the future of insurance.
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EVENT |
Matteo CARBONE, keynote speaker at IIF 2019 - MOTOR INSURANCE - the innovation challenge
by team, 2019-04-04
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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Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9
by Daniela GHETU, 2019-04-04
10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.
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| On the move |
AZERBAIJAN: the Compulsory Insurance Bureau has made new appointments
by Marina MAGNAVAL, 2019-04-04
The Board of Trustees for the Compulsory Insurance Bureau of Azerbaijan (ISB) has new appointments. Azer ALIYEV has been appointed Chairman of the Board of Trustees, replacing Lana GOZALOVA, first deputy chairman of the AXA Mbask Insurance Company in this position, Trend wrote.
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Eleonora GEAMANU takes over Willis Towers Watson Romania
by Daniela GHETU, 2019-04-04
Willis Towers Watson (WLTW), the global consultancy and brokerage firm, has recently appointed Eleonora GEAMANU as CEO of Willis Towers Watson Romania - Insurance Broker-Reinsurance Broker.
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RUSSIA: Alexey LEONENKO was appointed next General Director of SBERBANK Life insurance
by Marina MAGNAVAL, 2019-04-04
SBERBANK's Board of Directors elected Alexey LEONENKO as the new General Director, replacing Viktor DUBROVIN, effective March 29, the insurer reports.
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Sirma BOSHNAKOVA appointed CEO of Allianz Partners
by Andrei Victor, 2019-04-04
Sirma BOSHNAKOVA was named Chief Executive Officer of German insurer ALLIANZ Partners, effective April 1, 2019.
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Ludovic SUBRAN will be the new Chief Economist of ALLIANZ SE
by press.release, 2019-04-04
Ludovic SUBRAN will become the Chief Economist of Allianz SE and take over as Head of Group Economic Research from October 1, 2019. He succeeds Michael HEISE who is retiring after 17 years at Allianz.
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AIG announces three new nominees to BoD
by Andrei Victor, 2019-04-04
AIG announced that its Board of Directors has nominated three new director candidates for election at AIG's Annual Meeting of Shareholders 2019.
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