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Double award for Vienna Insurance Group at Austrian CEO & CFO Awards
by Daniela GHETU, 2019-11-20
VIG's head, Elisabeth STADLER was awarded as best International CEO and Liane HIRNER best CFO Newcomer of the Year at the CEO & CFO Award ceremony 2019 of the consulting company Deloitte together with Boerse Express and the CFO Club Austria, on 13 November 2019.
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KOSOVO insurers ended Q3 on loss
by Andrei Victor, 2019-11-18
Kosovo's insurance companies posted a net loss of EUR -0.8 million at the end of September 2019, compared to a net profit of 2.1 million euro a year earlier, according to the "Monthly Information Report of the Financial System" published by the Central Bank. The assets held by Kosovo insurance companies increased to EUR 196.1 million as at the end of September, from EUR 181.0 million a year earlier.
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AM Best affirms credit ratings of Slovenian insurer Triglav and its reinsurance arm, Triglav Re
by press.release, 2019-11-20
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Slovenian Zavarovalnica TRIGLAV d.d. (TRIGLAV), the parent company of the TRIGLAV group, and Pozavarovalnica TRIGLAV Re (TRIGLAV Re), a wholly owned subsidiary of TRIGLAV. The outlook of these Credit Ratings (ratings) remains stable.
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Luciano CIRINA: Austria, CEE & Russia, a growth engine for the group
by Andrei Victor, 2019-11-18
"I'm proud to say that we are a significant profit engine for the Group: as a matter of fact we are the second biggest net profit contributor in 2018. We have a proven track record of profitable growth and we are the most profitable insurance Group in the region. We are ready to capture market opportunities, thanks to our strong market position and a highly efficient regional platform", according to an interview with Luciano CIRINA, Austria, CEE & Russia Regional Officer and CEO of GENERALI CEE Holding published on the insurer' website.
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UNIQA Group, 9M2019: consolidated net profit grew 1.7%
by press.release, 2019-11-21
At the end of September 2019, for nine months ended, UNIQA Group consolidated net profit increased by 1.7% to EUR 167.1 million.
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Sampo Group, 9M2019: insurance premiums up 6.8%
by press.release, 2019-11-15
From January to September 2019, Sampo Group accumulated a profit before taxes of EUR 1,073 million, 34.7% smaller than the same period of prior year.
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TransRe, 3Q2019: earnings before taxes went up 43.9%
by Cosmin CONCEATU, 2019-11-21
Trans Re ended the first nine months of 2019 with earnings before taxes in amount of USD 639 million, showing a considerable increase of 43.9% compared to the same period of the year before.
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Allianz and Microsoft partner to innovate insurance industry
by press.release, 2019-11-18
Microsoft will team up with Allianz and Syncier, the B2B2X insurtech founded by Allianz, to offer new digital solutions aiming to reduce costs and improve the portfolio management process.
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Allianz receives regulator approval to begin operations in China
by Cosmin CONCEATU, 2019-11-18
China Banking and Insurance Regulatory Commission (CBIRC) approved Allianz request to conduct operations in world's fastest growing economy.
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STATISTICS: TURKISH insurers reported impressive growth rates on all classes at the end of September
by Andrei Victor, 2019-11-21
The Turkish insurance market ended 3Q2019 with GWP worth TRY 48.4 billion, 22.5% up y-o-y. At the same time, the appreciation of the Turkish Lira against Euro has influenced the market rates calculated in European currency, translating them in a 38% positive change to EUR 7.8 billion.
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TURKEY: The Treasury licensed a new non-life insurer
by Andrei Victor, 2019-11-18
A new player enters the Turkish non-life insurance market after the Treasury licensed TMT Sigorta, informed Middle East Insurance Review. The Turkish market is currently dominated by the non-life sector which accounts for more than 80% of premiums.
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STATISTICS: ARMENIA, 3Q2019: growth rate of paid claims slowed noticeably from 37.9% to 9.9%
by Marina MAGNAVAL, 2019-11-21
At the end of 3Q2019, Armenian insurance market generated GWP worth of AMD 36.5 billion (EUR 70.3 million), 19.7% more y-o-y. In European currency the market growth looked much more impressive (+28.8%) thanks to a more favorable exchange rate of dram against euro.
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AZERBAIJAN: new life insurer Xalq Hayat has already collected GWP worth over AZN half million
by Marina MAGNAVAL, 2019-11-20
At the end of September 2019, the new life insurer Xalq Hayat generated GWP for "life insurance of persons borrowing loans" and "compulsory insurance against industrial accidents and occupational diseases" worth of AZN 577 thousand (~EUR 310 thousand), ABC.AZ reports.
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KAZAKHSTAN: January - October GWP increased 31.1% while profit of insurers fell more than 10%
by Marina MAGNAVAL, 2019-11-21
As of November 1, 2019, insurers assets grew by 18% y-o-y and amounted to KZT 1,168.5 billion (EUR 2.69 billion). However, total retained profit dropped by 10.4%, to KZT 69.7 billion (EUR 0.16 billion), as Allinsurance.kz reports.
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STATISTICS: MOLDOVA, 3Q2019: market share of the key market segment - motor insurance dropped by almost 7% y-o-y
by Marina MAGNAVAL, 2019-11-21
The Moldovan insurance sector ended the 3rd quarter of 2019 with GWP in the amount of MDL 1218.15 million (EUR 62.80 million), which in local currency is 11.53% more y-o-y, as the data, published by the National Commission of Financial Market show.
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RUSSIA: INGOSSTRAKH 9 months profit decreased 31% amid 28% GWP growth
by Marina MAGNAVAL, 2019-11-20
According to INGOSSTRAKH, the insurer's net profit from January to September 2019 decreased by 31% y-o-y in local currency, to RUB 4.47 billion / ~EUR 63.2 million, ASN reports based on the company's information.
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RUSSIA: universal life insurance business line grew 54% becoming the leader of the life sector
by Marina MAGNAVAL, 2019-11-20
According to the preliminary data, GWP of universal life insurance from January to September 2019 amounted to RUB 74.6 billion / ~EUR 1.05 billion (+54% y-o-y in local currency), which makes this segment a new growth driver on the Russian life market, ASN reports.
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UKRAINE: GUARDIAN gets the right to insure under the Green Card system
by Marina MAGNAVAL, 2019-11-20
Insurers - full members of MTIBU (Motor (Transport) Insurance Bureau of Ukraine) have now been joined by GUARDIAN, which got the right to sell Green Card policies, Forinsurer reports.
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