 BADEN BADEN |
EVENT: XPRIMM Insurance report and 3 other new XPRIMM publications, launched at the Baden-Baden XPRIMM Reception
by Adina TUDOR, 2019-10-20
The re/insurance professionals participating at the Baden-Baden XPRIMM Reception were among the first who had the opportunity of reading latest issues of four new XPRIMM Publications, launched during the event.
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TOP EVENT: Who were the winners of the XPRIMM Insurance Awards 2019?
by Adina TUDOR, 2019-10-20
During the Baden-Baden XPRIMM Reception, even which gathered, on Sunday, 22 October, re/insurance professionals from all over the world, a series of distinctions and awards were offered to re/insurance players activating on the regional market.
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The Georgian Evening - for the first time in Baden-Baden
by Adina TUDOR, 2019-10-20
On Sunday, 20 October, the Georgian insurance market was under the spotlight, during the Baden-Baden Georgian Evening, an event organized for the first time by XPRIMM during the Baden-Baden Meetings.
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Baden-Baden: MUNICH Re talks about the variety of digital solutions it offers to its clients
by Daniela GHETU, 2019-10-21
Digital transformation posing new challenges for insurance industry, representatives of MUNICH Re have shown in Baden Baden, emphasizing that MUNICH Re's digital solutions support insurers across entire value chain: while data-analytics tool "The Box" improves loss ratio and efficiency in motor business, AQUALYTIX delivers key findings about drivers of water-mains damage.
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Baden-Baden Reinsurance Symposium examines (re)insurance market opportunities generated by industry 4.0
by Daniela GHETU, 2019-10-21
In the 1th year that Guy Carpenter has hosted the Reinsurance Symposium in Baden Baden, the event has focused on the question: "Is the (re)insurance sector ready for Industry 4.0?" The subject was addressed by a panel of senior industry figures who considered the extent to which the (re)insurance industry was keeping pace with the rapidly evolving needs of its clients.
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STATISTICS: CEE, 1H2019: Top 10 insurers are providing for 37% of the regional GWP, both on the life and non-life segments
by Daniela GHETU, 2019-10-24
Top 10 CEE insurers accounted together for about 37% of the regional GWP, both on the life and non-life sector in 1H2019. In comparison with the previous year, Top 10's contribution to the total GWP decreased by about 0.5 pp on the life side and 1 pp for non-life.
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BiH: GRAWE to acquire DUNAV's life portfolio
by Cosmin CONCEATU, 2019-10-23
Bosnian branch of GRAWE, the life insurance sector leader from Bosnia and Herzegovina, will take over the life portfolio of DUNAV Osiguranje Banja Luka, the Bosnian subsidiary of Serbian market leader, CAPITAL.ba reports.
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Former SOGELIFE Bulgaria to be held again by a French group
by Andrei Victor, 2019-10-24
Bulgarian Commission for Protection of Competition announced this week that it approved the fully aquisition of EXPRESS Life Insurance (former SOGELIFE Bulgaria) by the local subsidiary of French insurer GROUPAMA, after about two weeks before the transaction received the "green light" from the Bulgaria's Financial Supervision Commission.
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CROATIA: GENERALI to consolidate its position by acquiring IZVOR osiguranje
by Andrei Victor, 2019-10-22
GENERALI CEE Holding announced it will expand on Croatian insurance market by acquiring the business of local non-life insurer IZVOR osiguranje: "The transaction will be finalized after receiving the approval of the relevant supervisory and competition authorities and is aimed to further consolidate GENERALI's position on the Croatian market".
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AM Best Affirms Credit Ratings of Pozavarovalnica Sava d.d.
by Daniela GHETU, 2019-10-21
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Pozavarovalnica Sava d.d. (Sava Re) (Slovenia), the operating holding company of the Sava Re Group. The outlook of these Credit Ratings (ratings) is stable.
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SCOR, 3Q2019: Group net income rose 18.3% YTD
by Cosmin CONCEATU, 2019-10-24
For the first nine months of 2019, SCOR Group secured a net income of EUR 401 million, 17.3 percent more compared to the same period of 2018. The return on equity (ROE) was 8.8%, exceeding the profitability target set in "Quantum Leap" business plan by 816 bps.
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AXA could exit Central European markets, market rumors say
by Andrei Victor, 2019-10-23
Reuters reported that French insurer AXA is considering selling its Central European business "as part of a restructuring to quit markets where it lacks scale, three sources familiar with the situation said".
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VIG in top 500 best employers in the world
by press.release, 2019-10-21
Vienna Insurance Group (VIG) is 495 in the list of the 500 best employers in the world, according to the latest "Forbes Global 2000 - World's Best Employers Ranking", published in October 2019.
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ALLIANZ - No.1 insurer in the 2019 edition of the Best Global Brands report by Interbrand
by Daniela GHETU, 2019-10-22
The 20th edition of the world's first brand valuation survey, the Best Global Brands 2019 report, shows Allianz as being the no.1 insurer globally, with its brand value increasing by 12% y-o-y, to USD 12.1 billion. Allianz ranks 43rd while Top 100's total combined value is of USD 2.13 trillion, 5.7% up y-o-y.
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FITCH removes SIRIUS ratings from Rating Watch Negative to Outlook Stable
by press.release, 2019-10-23
Fitch Ratings has affirmed and removed Sirius International Group, Ltd.'s ratings from Rating Watch Negative, including its 'BBB' Long-Term Issuer Default Rating (IDR), 'BBB-' senior debt rating and 'A-' (Strong) Insurer Financial Strength (IFS) rating of Sirius's operating subsidiaries. The Rating Outlook for all ratings is Stable.
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STATISTICS: SEE, 1H2019: coping with a less comfortable period
by Daniela GHETU, 2019-10-24
The three markets under consideration in the SEE area - Cyprus, Greece and Turkey - have gathered together, according to the XPRIMM estimations based on the Q1 market trend for Cyprus, GWP worth EUR 7.52 billion, 1.4% down y-o-y.
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GREECE: 4 bidders for a new attempt to sell ETHNIKI
by Cosmin CONCEATU, 2019-10-24
A new round of bids to sell Ethniki was initiated, this time with the deadline set to the end of Q1 2020, for 80% stake in the national company, valued at EUR 658 million, Insurance Daily reports.
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TURKEY: The launch of SDDK more than closer after the publishing of the Presidential Decree in the Official Gazette
by Andrei Victor, 2019-10-22
Turkish authorities opened the way for the setting up the SDDK - the new independent Insurance Regulation and Supervision Authority, by publishing the Presidential Decree in the Official Gazette. The SDDK is part of Turkey's "New Economy Programme Structural Transformation Steps 2019" announced in April 2019, that promises structural reforms for the financial sector.
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STATISTICS: CIS, 1H2019: Uzbekistan has the highest GWP growth rate in euro, while Azerbaijani premiums fell by 6.5% y-o-y
by Marina MAGNAVAL, 2019-10-24
According to the overall CIS data, total GWP increased slightly - by 4.60% only, while paid claims, on the contrary, keep high growing pace (+22.76%). At individual level, markets' dynamics looks very uneven, although with a rather weak change in their shares in the regional portfolio.
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AZERBAIJAN: in January-September total number of Green Card policies increased by 18% y-o-y
by Marina MAGNAVAL, 2019-10-24
For the first nine months of 2019, the number of Green Card policies reached 39.5 thousand units, which is 18% more than for the same period of last year, Trend reports with reference to the data provided by the Compulsory Insurance Bureau of Azerbaijan.
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Georgian insurer Unison bets on speed and quality to build a portfolio of loyal customers
by Daniela GHETU, 2019-10-24
Georgian insurer Unison ended 2018 with GWP worth GEL 44 million (EUR 14 million), 28% more y-o-y, holding an 8% market share. NEP after Q2 2019 amounted to GEL 21 million (EUR 6,6 million), 30% more y-o-y.
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IRAO VIG entered Georgian insurance market's Top 5 ranking in 1H2019
by Daniela GHETU, 2019-10-24
Georgian insurer IRAO, member of the Vienna Insurance Group, has reported GWP worth GEL 19.47 million (EUR 5.96 million) in 1H2019, 3.53% up y-o-y, a figure resulting almost entirely from the non-life insurance activity. At the end of June, the company ranked 5th, with a market share of 5.64%, ascending a position in the market hierarchy.
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KAZAKHSTAN: National Bank made supervisory recommendations as response to the Jan-Sept violations
by Marina MAGNAVAL, 2019-10-23
The National Bank of Kazakhstan published three advisory measures as a supervisory response, after the analysis of violations of the rights and interests of financial services consumers, committed by insurance companies in the first three quarters of 2019, Allinsurance.kz reports.
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MOLDOVA: financial recovery of Moldova-Astrovaz SA and Klassika Asigurari SA continues
by Marina MAGNAVAL, 2019-10-22
The financial recovery procedure, introduced in July 2019, of Moldova-Astrovaz SA and Klassika Asigurari SA continues, Capital.market reports with reference to the National Financial Market Commission (CNPF) press service.
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UKRAINE: the supervision "separation" law, to be transferred to the National Bank, was signed
by Marina MAGNAVAL, 2019-10-23
The law for the separation of functions of the National Commission for Financial Services Market (regulator) between the National Bank and the National Commission for Securities and Stock Market, was signed on October 16, as Forinsurer reports with reference to the official website of Verkhovna Rada of Ukraine.
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Munich Re US Operations appoints Head of Diversity & Inclusion
by press.release, 2019-10-24
Munich Reinsurance America, Inc. has appointed Juan HERRERA as its first full-time Head of Diversity & Inclusion. HERRERA reports to Brian VISCUSI, U.S. Regional Head of Human Resources, and is based in Princeton, New Jersey.
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Swiss Re COO to be transferred to Latin America as President of Reinsurance
by Cosmin CONCEATU, 2019-10-24
Swiss Re's current Reinsurance Chief Operating Officer (COO), Kaspar MUELLER, will join Latin America business in his new role as President, effective November 1st, 2019, ReinsuranceNe.ws reports.
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Aleksandra AGATOWSKA appointed to PZU's Supervisory Board
by Cosmin CONCEATU, 2019-10-24
On October 23, 2019, the PZU's Supervisory Board adopted a resolution regarding the appointment of Aleksandra AGATOWSKA to the Management Board, giving her the function of Member of the Management Board of PZU SA.
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Michael MORAN appointed as Executive Vice President of Delivering Aon United program
by press.release, 2019-10-24
Aon plc appointed Michael MORAN as Executive Vice President of Delivering Aon United, accelerating its efforts to drive better outcomes for clients with the appointment of the senior executive.
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Michelle SIPPLE joins Everest Insurance as Vice President and Head of Inland Marine
by press.release, 2019-10-24
Everest Insurance, part of Everest Re Group, announced that Michelle SIPPLE has joined the organization as Vice President and Head of Inland Marine. She will be based in Liberty Corner, New Jersey.
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