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CCN Group launches a new EU-wide recovery service
by Daniela GHETU, 2019-06-06
CCN Recoveries, one of the specialized activities of CCN Group, is expanding its coverage by launching this new service in Romania.
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UK: From 9% to 95% insurable households against floods
by Cosmin CONCEATU, 2019-06-06
It is estimated that about 5.3 million households in the UK are at the risk of flooding. The resulted costs from this highly damaging natural hazard have made UK insurers unable to take the risk of vulnerable households without significant losses or without charging a very expensive insurance premium. There is a solution to this problem and it comes from Flood Re.
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Cyprus: CNP Assurance acquires Bank of Cyprus stake in insurance units
by Andrei Victor, 2019-06-05
CNP Cyprus Insurance Holdings announced that its majority shareholder - the France's insurer CNP Assurances which owns 50.1% of its share capital, came to an agreement with Bank of Cyprus to acquire the remaining 49.9% stake in CNP Cyprus Insurance Holdings.
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STATISTICS: TURKISH insurers' Q1 GWP dynamic affected by the TRY depreciation against euro
by Andrei Victor, 2019-06-06
Turkish insurance market's GWP was of TRY 17.5 billion (about EUR 2.7 billion) in Q1 2019, ~20% up y-o-y in nominal terms, according to the preliminary data published by the local association - TSB. In European currency, the rate was negative (-7.7% y-o-y) due the depreciation registered by the local currency against euro (6.3188 TRY/EUR, March 31st, 2019 vs. 4.8673 TRY/EUR, March 31st, 2018).
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Turkey to create SDDK - the new independent Insurance Regulation and Supervision Authority
by Andrei Victor, 2019-06-05
Turkish authorities are ready to set up SDDK - the new independent Insurance Regulation and Supervision Authority, according to the Minister of Treasury and Finance, Berat ALBAYRAK quoted by Middle East Insurance Review.
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KAZAKHSTAN: the life sector grew by more than 74% y-o-y
by Marina MAGNAVAL, 2019-06-06
The National Bank of Kazakhstan reports that as of May 1, 2019, market GWP increased by 19.9% y-o-y amounting to KZT 166.8 billion. Paid claims grew by 51.5% y-o-y, to KZT 37.9 billion, Allinsurance.kz reports.
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STATISTICS: KYRGYZSTAN, 1Q2019: property insurance exceeded 54% of market portfolio
by Marina MAGNAVAL, 2019-06-06
According to data published by the Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets, in the first three months of 2019, GWP amounted to KGS 268.10 million (EUR 3.42 million).
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STATISTICS: MOLDOVA, 1Q2019: market paid claims rose more than 68% in national currency through slight increase of GWP
by Marina MAGNAVAL, 2019-06-06
In 1Q2019, the Moldovan insurance market grew 3.31% y-o-y, to MDL 343.10 million (EUR 17.66 million). Market paid claims increased significantly, by 68.59% to MDL 120.92 million (EUR 10.49 million), according to data published by the National Commission for Financial Markets (CNPF).
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UKRAINE: 16 MTPL insurers got the highest evaluation rating in 1Q2019
by Marina MAGNAVAL, 2019-06-06
The MTIBU (Motor Transport Insurance Bureau of Ukraine) has published the results of Bureau members' financial stability and claim settlement quality; out of 51 companies licensed for MTPL, 16 insurers got the highest evaluation rating in 1Q2019, Forinsurer reports.
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UZBEKISTAN: new company in the life market: ALSKOM-VITA
by Marina MAGNAVAL, 2019-06-06
ALSKOM has registered a new life insurer: ALSKOM-VITA. The license, based on the order of the Ministry of Finance, was issued May 29, 2019, as reported by UzReport news agency.
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How do you build an insurance portfolio that accommodates market changes?
by Adina TUDOR, 2019-06-05
A decade on from the financial crisis, the market has entered very interesting times as the industry moves towards the end of the credit cycle and a number of topics on the political agenda take precedence.
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| On the move |
RUSSIA: Nikolay GALUSHIN leaves Presidency of RNRC July 1
by Marina MAGNAVAL, 2019-06-06
The Russian National Reinsurance Company (RNRC) announced that Nikolay GALUSHIN, its President and Chairman will leave the position on July 1, 2019, "due to successful implementation of the launch and development of national reinsurer's activities, through the company's strategy".
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AON VP to retire
by Andrei Victor, 2019-06-05
AON announced that Peter LIEB is retiring from the firm after ten distinguished years of service as Executive Vice President and General Counsel.
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Carsten ABRAHAM appointed as CEO of UNIQA Liechtenstein
by Andrei Victor, 2019-06-05
Austrian insurer UNIQA announced changes in its Vaduz-based Management. Thus, Carsten ABRAHAM was appointed as CEO of UNIQA Versicherung Aktiengesellschaft, Vaduz in addition of current CFO responsibilities, after Ismar Daniel KUHNEISEN decided to exit UNIQA Group.
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Tom STODDARD steps down as CFO of AVIVA
by Andrei Victor, 2019-06-06
AVIVA announced that the BoD and Tom STODDARD have decided that Tom STODDARD will step down as Chief Financial Officer and as a Director of AVIVA from 30 June 2019: "Tom STODDARD will remain with the Group until 31 December 2019 to support an orderly transition".
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The Azeri insurance market's growth perspectives under debate in Baku, on 28 June
by Daniela GHETU, 2019-05-30
Developing several mandatory insurance lines, as well as reforming the agricultural insurance system or taking steps to the market's digitalization and general modernization are the main growth solutions that will be discussed on the occasion of the 2019 edition of the Conference "Insurance in Azerbaijan: Trends & Opportunities", 28 June 2019, Hilton Hotel, Baku, Azerbaijan.
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