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NEWS |
STATISTICS: BOSNIA AND HERZEGOVINA, FY2019: Insurers' GWP up by 7% y-o-y
by Andrei Victor, 2020-04-02
Last year, the BiH insurance market totaled EUR 390 million (BAM 762.5 million), 7% more y-o-y, as data from the local insurance agency - AZOBIH shows.
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CZECH REP.: Detected insurance frauds' value doubled within the last nine years
by Daniela GHETU, 2020-03-31
Czech insurers, members of the Czech Insurance Association (CAP), examined a total of 8,474 suspicious claims in 2019, thus detecting insurance frauds amounting to CZK 1.133 billion (~EUR 41.4 million), which is double as compared with the year 2010 (CZK 624 million), CAP stated.
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PZU's Estonian branch: Coronavirus related travel insurance claims growing fast
by Daniela GHETU, 2020-03-31
Estonian PZU Kindlustus, part of the PZU Group, has already paid out some EUR 100,000 in travel insurance claims related to the coronavirus outbreak, the local press reports. The company representatives said the number of claims has lately exceeded 50 per day in several occasions.
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STATISTICS: POLAND, FY2019: The largest CEE market reported positive rates and almost EUR 15 billion in aggregate GWP
by Andrei Victor, 2020-04-02
The largest CEE insurance market reported positive dynamic in terms of premiums, according to the year-end figures from the Polish Financial Supervision Authority (KNF).
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Triglav Group remains financially stable with strong capital base
by press.release, 2020-04-02
Triglav Group's capital adequacy was 223% as at the 2019 year-end (2018: 216%), staying within the target range in accordance with Triglav Group's capital management policy.
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Lloyd's FY2019 results: capital management and solvency in strong position to respond to COVID-19
by Andrei Victor, 2020-03-30
Lloyd's announced a return to profit of GBP 2.5 billion (pre-tax) for 2019, representing an improvement of GBP 3.5 billion on the previous year (2018: a loss of GBP 1.0 billion) and an 8.8% return on capital (2018: (3.7%)).
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ARMENIA: January-February MTPL policies number increased almost 6% y-o-y
by Marina MAGNAVAL, 2020-03-31
During January-February 2020, the number of e-MTPL policies in Armenia amounted to 16,448 units, while the share of electronic policies in total number of MTPL agreements reached 11% (vs. 3% a year ago), ArmInfo reports, based on the Armenian Bureau of motor insurers data.
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BELARUS: new legislation, adopted in 2019, aims to liberalize the insurance market
by Marina MAGNAVAL, 2020-04-02
The main achievement in 2019 for the insurance market was adoption of the Presidential Decree No. 175, aiming at liberalization of the insurance business, according to the magazine "Insurance in Belarus".
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UZBEKISTAN: Asia Insurance assigned uzA++ rating, stable outlook
by Marina MAGNAVAL, 2020-04-02
The rating agency of Uzbekistan, Ahbor-Reyting, based on the results of monitoring the company's activities in 2019, assigned Asia Insurance a solvency national rating of uzA++ with a stable outlook, the insurer reports.
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| INSURERS ON THE COVID-19 FRONT
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EIOPA published its actions to mitigate the impact of COVID-19 on the EU insurance sector
by Andrei Victor, 2020-03-30
EIOPA - The European Insurance and Occupational Pensions Authority announced that in close communication and cooperation with the other European Supervisory Authorities and the European Systemic Risk Board, has been monitoring the Coronavirus/COVID-19 situation very closely as the outbreak continues to cause disruption to households and businesses.
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HANFA Board bans insurance companies from the payment of dividend and ensures the earnings are retained in Croatia
by Daniela GHETU, 2020-03-31
The Board of the Croatian Financial Services Supervisory Agency (HANFA) has announced is banning the Croatian insurers from paying dividends from realized profits until 30 April 2021, thus retaining in the country about HRK 4 billion (~EUR 526 million) of earnings.
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CZECH REP.: Insurers and pensions companies will not pay dividend from last year's profits in order to strenghten their financial stability
by Andrei Victor, 2020-04-01
The impact of the coronavirus pandemic dramatically changes the current outlooks for the global and Czech economy. Thus, for its March monetary policy meeting, the CNB Bank Board had at its disposal an extraordinary internal update of the macroeconomic forecast, which served as a basis for its last decisions.
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LATVIA, COVID-19: FKTK announced it will ensure an individual and flexible approach in supervising the financial market participants
by Andrei Victor, 2020-03-30
The Latvian Financial and Capital Market Commission (FKTK) announced in the light of the position expressed by the European Central Bank (ECB), the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA), ensuring the supervision of financial sector participants will implement an individual and flexible approach, based on the assessment of actual situation and the effects of COVID-19 and making use of options provided by the regulatory framework.
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POLAND: KNF published a "stimulus package" to support the insurance industry
by Andrei Victor, 2020-03-30
KNF - the Polish Financial Supervision Authority announced some measurers in order to support the local insurance industry in response to the crisis generaded by COVID-19.
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POLAND: Insurers respond to Financial Ombudsman's call for solutions in relation to COVID-19
by Daniela GHETU, 2020-04-02
In a letter issued on March 25th, PIU - the Polish Chamber of Insurance responded to the Financial Ombudsman's proposal of solutions aimed at supporting policyholders. In PIU's opinion, any hasty actions that directly affect the solvency of companies, in the event of a long and deep crisis, will harm the interests of victims and the stability of the insurance market.
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Romanian insurers are taking protective measures against coronavirus crisis
by Cristian SUCA, 2020-03-31
During March 2020, the insurance industry from Romania took several measures to protect the clients and the insurance companies employees, acting as a quick response to the coronavirus crisis. The current operations continue to unfold normally, the National Association of Insurance and Reinsurance Companies in Romania (UNSAR) informs.
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Generali delivered first ventilators to Lombardy, purchased from Covid-19 emergency fund
by press.release, 2020-03-31
The intensive care units at hospitals in Lombardy received the first lung ventilators imported from Germany through a humanitarian operation by Hope Onlus, achieved thanks to the donation made by Generali through the Extraordinary International Fund for the Covid-19 Emergency, set up by the Group with a budget of up to EUR 100 million.
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MetLife Foundation throws in USD 25 million to support the fight against coronavirus
by press.release, 2020-03-31
MetLife Foundation today announced that it is committing USD 25 million to the global response to COVID-19 in support of communities impacted by the pandemic. The grant funding from MetLife Foundation will span all regions where MetLife operates, and will address both short- and longer-term relief efforts.
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ABI: This is not market failure, but a proof of insurance market's limitations; new pandemics insurance solutions are needed in the future
by Daniela GHETU, 2020-03-31
The global insurance industry has come under fire because most business interruption
policies do not provide cover for infectious diseases and those that do usually
exclude unknown viruses like Covid-19.
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AZERBAIJAN: AIA: insurance sector must prepare a plan for switching to a remote mode of operations
by Marina MAGNAVAL, 2020-04-02
The fight against spread of COVID-19 requires urgent and forced measures that affect all areas of activity, including insurance industry.
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MOLDOVA: CNPF employees donates MDL 100 thousand for the fight against COVID-19
by Andrei Victor, 2020-03-30
The employees of the National Commission of the Financial Market (CNPF) decided to contribute with a financial contribution in the amount of MDL 100 thousand (about EUR 50 thousand) to support the actions taken by the state institutions in combating the COVID-19 virus.
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RUSSIA: ARIA proposed measures to support the insurance market during the pandemic
by Marina MAGNAVAL, 2020-04-01
The All-Russian Insurance Association (ARIA) developed a number of measures to support operation of the insurance market during the pandemic. ARIA submitted its proposals to the regulator, as well as the Chairman of the Russian government, ASN reports.
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UKRAINE: insurers take special measures to maintain full operation during the quarantine
by Marina MAGNAVAL, 2020-04-02
Based on the government decision, work of business entities in the country was prohibited from March 17 to April 3. Insurance companies were included into the list of exceptions and can fulfill their obligations in full, Forinsurer reported.
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| Interview |
 Irina
MERZLYAKOVA
General Director
Belarusian Association of Insurers
by Marina MAGNAVAL, 2020-04-02
The number of insurance market players in the Belarus Republic remains the same
- 15 insurers and 1 reinsurer. The ranking has not changed either: all insurers
managed to keep their positions. But what is actually worth noting is that visible
growth dynamic was demonstrated by the companies that actively apply bancassurance
as one of their distribution channels.
More |
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