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NEWS |
ALBANIA: from January to November 2019 over 55% of paid claims fell on motor insurance
by Marina MAGNAVAL, 2020-01-07
Between January and November 2019, the Albanian insurance market exceeded ALL 15.63 billion/ EUR 0.13 billion (+3.20% y-o-y) in premiums. Market paid claims for the period amounted to about ALL 5.48 billion (11.13% less y-o-y), as the data of the Financial supervisory authority (AMF) show.
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BULGARIA: about 21,000 drivers will pay four times more for civil liability
by Marina MAGNAVAL, 2020-01-07
According to the Chairman of the Financial Supervision Commission (FSC), Boyko ATANASOV, the proposed new Bonus-Malus system was well-balanced for drivers. About 21,000 drivers will pay more (about 4 times) for their civil liability insurance, as the data of the Insurers Association show.
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ESTONIA: FSA and Guarantee Fund merged together
by Cosmin CONCEATU, 2020-01-09
From the beginning of 2020, the Financial Supervision Authority (FSA) and the Guarantee Fund of Estonia will operate under one roof. The merger will help the Guarantee Fund to fulfill its statutory objectives more quickly and efficiently and save costs.
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STATISTICS: NORTH MACEDONIA, 3Q2019: MTPL provides for 44% of the market GWP, but is responsible for half of the claims expenses
by Daniela GHETU, 2020-01-09
Insurers of North Macedonia achieved a 7.2% y-o-y consolidated market growth after the first three quarters of 2019, to a total GWP volume of EUR 129 million. Three business lines have provided for about 80% of the GWP increase: MTPL, fire insurance and life insurance.
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MONTENEGRO: GWP for 11 months of 2019 exceeded GWP of the whole 2018
by Marina MAGNAVAL, 2020-01-09
From January to November 2019, GWP of the Montenegrin insurance market exceeded the GWP level of the whole year 2018, as the Insurance Supervision Agency of the country announced on its website.
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STATISTICS: POLAND, 3Q2019: local insurers have paid EUR 1 million per hour in claims and benefits
by Daniela GHETU, 2020-01-09
Polish insurers have achieved GWP of PLN 47 billion (EUR 10.74 billion) in 3Q and paid PLN 30.7 billion to injured parties and clients - meaning, in average, about EUR 1 million per hour. Overall, GWP went up by 1.47% in local currency, while claims expenses decreased by 0.9%.
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STATISTICS: SLOVAK Q3 insurance market net profit almost halved to ~EUR 63 million
by Andrei Victor, 2020-01-09
In the first three quarters of 2019, the Slovak insurance market totaled EUR 1.71 billion, 2.50% more y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS). Life and non-life paid claims and indemnities increased by 6% to EUR 1.05 billion, of which about 46% were related to non-life sub-classes.
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SLOVENIA: Sava Re signed sale and purchase agreement for NLB Vita
by press.release, 2020-01-09
On December 27, 2019, Sava Re d.d. (buyer) and NLB d.d. and KBC Insurance NV (sellers) signed a sale, purchase and transfer agreement regarding 100% of the share capital in NLB Vita d.d.
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SAVA Re targets a EUR 45 million net profit for 2020, aiming for a >11% ROE
by Daniela GHETU, 2020-01-07
Based on its 2020-2022 strategy, the Sava Insurance Group has prepared its annual plan for 2020. The Group's operating revenues for 2020 are planned to exceed 4%, while it targets a net profit of over EUR 45 million and a ROE of at least 11%.
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Triglav Group aims for higher premiums and profit in 2020
by press.release, 2020-01-07
In 2020, Triglav Group expects to increase its consolidated written gross premium to around EUR 1.2 billion (2019 plan: around EUR 1.1 billion) and profit before tax to EUR 95-105 million (2019 plan: EUR 90-100 million), while keeping a combined ratio below 95%.
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ADRIS Grupa reviewed its 2020-2023 investing plan: Total investments increase by 33%, but less money allocated for insurance
by Andrei Victor, 2020-01-08
CROATIA's osiguranje shareholder - the Rovinj based consortium ADRIS Grupa - with businesses in tourism, real estate, tobacco and food industry announced it reviewed the business plan for 2020 and the strategic business plan for the next three years.
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Aon completes acquisition of the SME insurtech platform CoverWallet
by Andrei Victor, 2020-01-08
Global re/insurance broker Aon announced that it has completed the firm's acquisition of the digital insurance platform for small and medium-sized businesses CoverWallet,.
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ALLIANZ becomes the second largest general insurer in UK after the compeltiton of most recent deals
by Andrei Victor, 2020-01-08
ALLIANZ Holdings plc has completed the planned acquisition of the remaining 51% of the LV General Insurance Group (LV GIG) from LIVERPOOL Victoria Friendly Society (LVFS). The total consideration by ALLIANZ for 100% of LV GIG will be up to GBP 1.078 billion.
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GREECE: life insurance grew by over 19% in the first 10 months of 2019
by Marina MAGNAVAL, 2020-01-07
For the period between January and October 2019, life insurance had a positive trend. According to the data of EAEE (The Association of Insurance Companies of Greece), the Greek life sector saw a 19.1% rise y-o-y, reaching EUR 1.65 billion.
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AZERBAIJAN: PASHA Life Insurance plans to achieve record net profit based on 2019 results
by Marina MAGNAVAL, 2020-01-06
PASHA Life Insurance plans to achieve a record net profit among insurers of the country based on 2019 results (~AZN 25 million/ ~EUR 13 million), as Niyaz ISMAYLOV, Chairman of the Board of the company, told Trend.
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KAZAKHSTAN: 38% of total GWP generated by life insurance
by Marina MAGNAVAL, 2020-01-06
As of December 1st, 2019, GWP of the insurance market reached KZT 455.4 billion (~EUR 1.1 billion*), which is 31.2% more y-o-y, reports Allinsurance.kz based on the regulator's data.
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KAZAKHSTAN: new financial regulator starts operating from January 1
by Marina MAGNAVAL, 2020-01-07
On January 1st, 2020, as part of the reorganization of the National Bank of Kazakhstan, an agency on regulation and development of the financial markets started to operate, Allinsurance.kz reported.
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MOLDOVA: insurers might lose their right to issue Green Card policies
by Marina MAGNAVAL, 2020-01-06
The Green Card System Monitoring Committee will decide in the nearest time whether Moldova will be excluded from the international insurance system, Valeriu CHITAN, announced.
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RUSSIA: life insurance might decrease by 11-12% in 2019
by Marina MAGNAVAL, 2020-01-06
By 2021, the Russian insurance market won't be able to reach the goal set by the All-Russian Insurance Association (ARIA) of RUB 2 trillion (~EUR 28.8 billion), part of its development strategy, as the national rating agencies Expert RA and NCR (National Credit Ratings) consider.
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STATISTICS: RUSSIA, 3Q2019: former market driver, life insurance, dropped by more than 11% y-o-y
by Marina MAGNAVAL, 2020-01-09
In 3Q2019, Russian insurance market GWP reached RUB 1100.0 billion (EUR 15.66 billion), thus remaining almost at the level of 3Q2018. The market in euro grew by 9.15% thanks to a more favorable rate, than a year ago. Paid claims reached RUB 433.5 billion (EUR 6.16 billion), as the data of the Central Bank, show.
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UKRAINE: "split" law was the key market event in 2019
by Marina MAGNAVAL, 2020-01-06
According to PZU Ukraine group, the key event in 2019 on the Ukrainian insurance market was the signing of the "split" law - the transfer of the regulator's functions of the non-banking financial sector to the National Bank.
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UKRAINE: insurers' expenses for agents' remuneration from January to September 2019 reached almost UAH 7 billion
by Marina MAGNAVAL, 2020-01-07
From January to September 2019, expenses for agents' remuneration of Ukrainian insurers increased by 72.5% y-o-y, according to the report for the mentioned period of the National Financial Services Commission.
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UZBEKISTAN: a new insurer enters the market - Omad sug'urta
by Marina MAGNAVAL, 2020-01-07
In December 2019, the Ministry of Finance issued a license for a new insurance company - Omad sug'urta, as UzReport news agency informed.
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| On the move |
GUY CARPENTER named new CEO for the Benelux region
by Andrei Victor, 2020-01-08
At the end of December, MMC's (Marsh & McLennan Companies ) reinsurance brokerage arm - GUY CARPENTER announced the appointment of Patrick SCHEPENS as CEO of the Benelux region, effective April 2020. Patrick SCHEPENS succeeds Bruno Bogaerts who will continue as CEO until he joins the company, and will continue as Chairman of the Benelux region.
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GUY CARPENTER announces appointment of CEO of Pacific Region
by Andrei Victor, 2020-01-08
Reinsurance broker GUY CARPENTER part of MMC - Marsh & McLennan Companies announced this week the appointment of Jeff SAPER as CEO of the Pacific region, with immediate effect.
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AON names Alejandro GALIZIA as CEO for Latin America
by Andrei Victor, 2020-01-08
AON announced Alejandro GALIZIA has appointed as CEO for Commercial Risk, Health, Retirement and Data & Analytics for Latin America.
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Peter SKVARCA joins the management board of Sava Re
by press.release, 2020-01-09
On 19 December 2019, the supervisory board of Sava Re d.d. received the statement of Srecko CEBRON on his early termination of tenure on the Sava Re management board and accepted his proposal for the consensual termination of his employment contract as a management board member as of 31 May 2020.
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AVIVA named CULMER as Senior Independent Director
by Andrei Victor, 2020-01-08
AVIVA has appointed George CULMER as Senior Independent Non-Executive Director with effect from 1 January 2020. He succeeds Glyn BARKER, who retired from the Board and as Senior Independent Director on 31 December 2019.
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ACHMEA announced changes in Supervisory Board
by Andrei Victor, 2020-01-08
At the end of 2019, Dutch insurance group ACMEA announced the shareholders approved the appointment of Lex KLOOSTERMAN as a member of ACHMEA's Supervisory Board, while Bianca TETTEROO has been appointed as vice-chair of the Executive Board with effect from 1 January 2020.
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AIG Board elected ZAFFINO as President
by Andrei Victor, 2020-01-08
At the end of 2019, American International Group announced that Peter ZAFFINO has been named President of AIG, effective January 1, 2020. At the same time he will continue to serve as Global Chief Operating Officer of AIG and Chief Executive Officer of General Insurance.
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Mike KARMILOWICZ appointed as Executive Vice President of EVEREST Insurance
by press.release, 2020-01-09
Everest Insurance, the diversified specialty insurance division of Everest Re Group, has appointed Mike KARMILOWICZ to Executive Vice President of Everest Insurance and President of Everest Insurance North America P&C.
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