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EUROINS, 9M2019: group revenues rose by 44% y-o-y
by Cosmin CONCEATU, 2019-12-04
For the first nine months of 2019, Euroins Insurance Group (EIG), part of EUROHOLD Bulgaria AD, reported revenues of BGN 962 million (~ EUR 492 million), up by 43.9% year-on-year.
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BiH: GRAWE Banja Luka to absorb ATOS Osiguranje
by Cosmin CONCEATU, 2019-12-03
At the end of November 2019, the General Meeting of Shareholders of ATOS Osiguranje passed the decision to merge with GRAWE osiguranje ad Banja Luka, the Republika Srpska branch of the Austrian insurance group, Indikator.ba reports.
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Sava osiguranje expands its operations in the Croatian market by completing the acquisition process for two ERGO companies
by Daniela GHETU, 2019-12-05
On December 1, 2019, Sava Osiguranje - the Croatian branch of the Slovene Sava Re company -, fully acquired the portfolio of ERGO insurance and ERGO life insurance companies operating in Croatia, thus doubling its weight on the local market.
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HUNGARY: MNB introduces consumer-friendly home insurance system
by Cosmin CONCEATU, 2019-12-02
The Central Bank of Hungary (MNB) announced the introduction of Certified Consumer-Friendly Home Insurance system (Minositett Fogyasztobarat Otthonbiztositas - MFO), to be available to consumers starting Q1 2020.
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KOSOVO: CBK allows insurers to adjust MTPL tariffs to inflation
by Cosmin CONCEATU, 2019-11-29
Central Bank of the Republic of Kosovo (CBK), based on the International Monetary Fund review over the stability of financial sector of Kosovo, initiated the evaluation process over risk premiums on MTPL business line.
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POLAND: PKO Ubezpieczenia became member of UFG
by Cosmin CONCEATU, 2019-12-05
At the end of November 2019, PKO Ubezpieczenia became the 30th member of the Polish Insurance Guarantee Fund (UFG).
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SAVA Re expects payments for claims arising from Typhoon Hagibis to exceed EUR 5 million
by Daniela GHETU, 2019-12-05
In October 2019, Japan was hit by Typhoon Hagibis, one of the worst storms in the region in decades. According to latest estimates, the claims payable by Sava Re under its reinsurance treaties will exceed EUR 5 million.
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MetLife's European insurance assets acquisition by Generali on stand by
by Daniela GHETU, 2019-12-05
Italian insurance group Generali could postpone presenting a formal bid for the European assets of MetLife Inc. until end March 2020, after the 2019 year-end results will be known, international news agencies report. Currently, the talks between the two parts are stalling because the difference of opinion on the operation's value.
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Standard & Poor's places UNIQA Rating on CreditWatch Positive
by press.release, 2019-12-05
Standard & Poor's (S&P) placed UNIQA Group on CreditWatch Positive after the Austrian insurer announcement of a possible merger between two of its branches.
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SCOR issues a new 3-year contingent capital facility
by press.release, 2019-12-05
SCOR announced the launch of a new three-year contingent capital facility. This takes the form of a contingent equity line, providing the Group with EUR 300 million coverage in case of extreme natural catastrophe or life events impacting mortality.
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STATISTICS: CYPRUS, 1H2019: Half-year premiums production maintained on ascending path by non-life LOBs
by Andrei Victor, 2019-12-05
During January-June 2019, the Cypriot insurance industry increased by 2.5% y-o-y to EUR 468 million, according to half-year market figures published on the IAC website - the local professional association.
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STATISTICS: GREEK insurance market expanded to EUR 3 billion at the end of September
by Andrei Victor, 2019-12-05
The Greek insurers reported aggregate GWP of EUR 3 billion at the end of September 2019, up by 7.8% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC).
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ARMENIA: new health tax to attract additional resources into healthcare to be introduced
by Marina MAGNAVAL, 2019-12-05
According to the Minister of Health of Armenia, Arsen TOROSYAN, the healthcare sector needs additional resources in the amount of AMD 150 billion (~EUR 283 million); the new health tax of 6% on the wages of the working population might be the source of that, ArmInfo reports.
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AZERBAIJAN: premium amounts on compulsory medical insurance to be set
by Marina MAGNAVAL, 2019-12-05
The amendments to the law "On medical insurance" were put up for discussion and were proposed to set insurance premiums for compulsory medical insurance, as Trend reports referring to chairman of the parliamentary health committee Ahliman AMIRASLANOV.
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AZERBAIJAN: financial markets supervision transferred to the Central Bank
by Daniela GHETU, 2019-12-05
On November 28, by Order of the President of the Republic of Azerbaijan, the Chamber of Financial Supervision of the Republic of Azerbaijan (FIMSA) was abolished, its task being transferred to the Central Bank.
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AM Best revised the ratings of AzRe to positive from stable
by press.release, 2019-12-04
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of AzRe Reinsurance, OJSC (AzRe) (Azerbaijan).
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STATISTICS: GEORGIA, 3Q2019: non-life paid claims almost doubled year-on-year
by Marina MAGNAVAL, 2019-12-05
From January to September 2019, the Georgian insurance market generated GWP in amount of GEL 481.85 million (~EUR 149.24 million), which in local currency represents a 15.50% increase y-o-y.
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KAZAKHSTAN: growth of Motor Hull GWP for 10 months exceeded 31% y-o-y
by Marina MAGNAVAL, 2019-12-05
According to the National Bank of Kazakhstan, from January to October, Motor Hull increased by 31.4% y-o-y, to KZT 21.8 billion (~EUR 50.25 million), and its share in the portfolios of local insurers, as of November 1, 2019, amounted to roughly 8.3%, writes Allinsurance.kz.
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RUSSIA: almost 9 in 10 insurance frauds fell on MTPL in the first nine months
by Marina MAGNAVAL, 2019-12-05
According to the Bank of Russia, from January to September 2019, the total number of criminal cases in the insurance industry amounted to 1900, said Ekaterina ABASHIEVA, deputy director, Bank of Russia, insurance market department.
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UKRAINE: TAS and ORANTA are leading in terms of MTPL contracts and GWP in 3Q2019
by Marina MAGNAVAL, 2019-12-05
According to the data published by MTIBU (Motor Transport Insurance Bureau of Ukraine), the total number of MTPL contracts amounted to 2 million units, while the GWP on MTPL reached UAH 1.27 billion (~EUR 48.2 million*), reports Forinsurer.
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15 - 17 January 2020
Bangkok, Thailand
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29 January 2020
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3rd Annual Managing Insurance Contracts under IFRS 17
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30 April 2020
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24-26 May 2020
Sinaia, Romania
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June 2020
Baku, Azerbaijan
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17-18 September 2020
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