 TOP
NEWS |
Insurance Europe: EIOPA should further clarify and streamline reporting requirements for the PEPP
by press.release, 2020-06-17
Insurance Europe has published its response to a consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on its implementing technical standards (ITS) for supervisory reporting and cooperation and the exchange of information between authorities for the pan-European personal pension product (PEPP).
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Insurance Europe responds to EC consultation on Non-Financial Reporting Directive
by press.release, 2020-06-16
Insurance Europe has today published its response to the European Commission's Non-Financial Reporting Directive (NFRD) consultation.
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Insurance Europe published "Insure Yourself Wisely" guide
by press.release, 2020-06-16
Insurance Europe has today published a guide on how to "Insure Yourself Wisely". Recent events have shown just how important it is to make the right financial decisions and to understand the financial products you buy.
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Swiss Re's sigma 3/2020: Investing in infrastructure can drive sustainable growth in emerging markets
by press.release, 2020-06-18
Beyond the global recession shock inflicted by the COVID-19 pandemic this year, emerging markets are forecast to grow by around 4.4% annually over the next decade, slower than the yearly average of 5.5% in 2010-19. Against the weaker growth backdrop, emerging economies need to improve productivity. Here counter cyclical investment in infrastructure can play a key role, one of the latest publication from Swiss Re, "sigma 3/2020", says.
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Just two weeks left until the international MTPL policy will loose its traditional green color
by Daniela GHETU, 2020-06-18
Starting July 1st, 2020, the well-known "Green Card" document, proving the existence of the MATPL international coverage, will be accepted also in black and white version, according to the European international agreement of the states of the green card system.
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LATVIA: EUR 9.6 million MTPL claims related to damages done to road structures and buildings were paid between 2015-2019
by press.release, 2020-06-18
From 2015 to 2019, about EUR 9.6 million was paid in MTPL indemnities for the damage done to roads, road structures and buildings. In the first quarter of 2020 alone, EUR 663 thousand have already been paid for damage to infrastructure objects or their destruction.
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POLAND: Number of accidents caused by Polish vehicles decreased after 6 years of consecutive growth
by press.release, 2020-06-18
For the first time in the past 6 years, the number of accidents due to the guilt of Polish drivers on foreign roads has started to decrease. At the end of 2019, for 12 months ended, Polish motorists caused 73 thousand accidents, 3% less when compared to over 75 thousand events during 2018. Traditionally, most of the accidents caused by Polish drivers happened on the roads of Germany, France, Italy, Great Britain and the Netherlands. Drivers of vehicles with Polish license plates cause 200 events per day on foreign roads.
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Romanians may no longer be able to conclude insurances in European currency
by Andrei Victor, 2020-06-17
Romanians will no longer be able to conclude insurance contracts in EUR, according to a bill adopted by Romanian Senate and debated these days in Chamber of Deputies, informed the Romanian insurance portal www.1asig.ro here. According to the quoted source, among the most common insurance contracts concluded in European currency are the life, MoD and HH policies.
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Standard & Poor affirms SCOR's 'AA-' rating with 'stable outlook'
by press.release, 2020-06-18
SCOR has been informed of Standard & Poor's (S&P) decision to affirm the financial strength rating for the Group and its main subsidiaries at "AA-", with a "stable outlook".
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Swiss Re Corporate Solutions announced collaboration with LocalTapiola
by press.release, 2020-06-18
Swiss Re Corporate Solutions announces a strategic agreement to bring LocalTapiola onto its International Programme Administration (IPA) platform. Additionally, the agreement gives the Finnish insurer access to Swiss Re Corporate Solutions' network of over 150 local offices and network partners. The collaboration supports LocalTapiola's ambitions to grow its corporate business book by competing as lead for international programme business.
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Moody's assigns A3 rating to Peak Re, outlook stable
by press.release, 2020-06-16
Peak Reinsurance Company Limited, a Hong Kong-based global reinsurer, is pleased to announce that it has received from Moody's Investors Service an A3 insurance financial strength rating (IFSR); and the rating outlook is stable.
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ERGO Group enters China's P&C market through strategic investment in TAISHAN Insurance
by Andrei Victor, 2020-06-16
German insurer ERGO announced the signing of a shareholder's agreement and capital increase agreement to make a strategic investment in TAISHAN Property & Casualty Insurance, a Shandong-based nationwide property and casualty (P&C) insurer in China. "The deal marks a significant step by the leading German insurer to deepen and expand its services in the Chinese market", as the German insurer mentioned in a press release.
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1000+ claims executives gather for Connected Claims Europe Virtual
by Adina TUDOR, 2020-06-17
Connected Claims Europe, organized by Reuters Events Insurance and Insurance Nexus and supported by XPRIMM Publications as Media Partner, has officially launched as a virtual claims event that is free to attend for all insurance executives for the first time in its history.
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Milli Re's premium production increased by 26% in 2019
by Daniela GHETU, 2020-06-18
As of 2020 renewals, Turkish reinsurer Milli Re maintained its market share of 27% in the local insurance market by leading the reinsurance treaties of 17 ceding companies buying reinsurance protection on proportional bouquet basis, the company's Director and General Manager, Fikret Utku OZDEMIR stated in the Annual Report for 2019.
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AZERBAIJAN: compulsory real estate insurance saw a sharp increase in 1Q2020
by Marina MAGNAVAL, 2020-06-17
As a result of numerous fires and natural disasters of 2019, importance of property insurance has increased on the Azerbaijani market. This trend can be observed in 1Q2020 GWP under compulsory real estate insurance, indicator which went up by 95% year-on-year, as Trend reported according to the Association of insurers of Azerbaijan.
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KAZAKHSTAN: life insurers to offer a new product — unit-linked
by Marina MAGNAVAL, 2020-06-17
In June this year, life insurers in Kazakhstan will offer unit linked product to their customers. This insurance product is new to this market, Allinsurance.kz reports.
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RUSSIA: over 40% of Sberbank's claims for losses of jobs were paid in April and May
by Marina MAGNAVAL, 2020-06-18
In April-May 2020, SBERBANK Life insurance, a subsidiary of Sberbank, made 14 thousand payments for insured events, including around 600 payments to clients due to job loss and about 100 payments due to pulmonary diseases, including COVID-19, the press service of the insurer reports.
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| INTERVIEW |
 Elisabeth
STADLER, CEO,
VIG - Vienna Insurance Group
by Mihaela CIRCU, 2020-06-18
For the first time in our history, we exceeded the 10 billion EUR premium limit
and gained 10.4 billion EUR. We generated more than a half billion profit before
taxes (522 million EUR), our net profit jumped by 23% to 331 million EUR and
we improved our combined ratio strongly to 95.4 %. We are convinced that after
the crisis, economic growth in the CEE region will again be stronger than in
Western Europe.
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| INSURERS
ON THE COVID-19 FRONT |
| ON
THE MOVE |
| STATISTIC
UPDATES |
STATISTICS: NORTH
MACEDONIA, 1Q2020: The insurance market reported similar growth
rates both in life and general LoBs
by Andrei Victor, 2020-06-18
At the end of March 2020, the Macedonian insurance market totaled
about MKD 2.6 billion (EUR 42 million*), up by 4.5% y-o-y, according
to data provided by the local Insurance Supervision Agency. Paid
claims by insurers remained at the Q1 2019 level: MKD 955 million,
the equivalent of EUR 15.5 million*.
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STATISTICS: BELARUS,
1Q2020: paid claims ratio went up exceeding 50%
by Marina MAGNAVAL, 2020-06-18
In 1Q2020, the GWP of Belarusian insurance market amounted to BYN
379.9 million (~EUR 132 million*), in local currency reflecting an
increase of 13% year-on-year, while in European currency the market
growth rate was negative (-6.3%), as the data published by the Ministry
of Finance show.
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STATISTICS: MOLDOVA,
1Q2020: In spite of market GWP volumes' general decline, MTPL increased
by more than 18%
by Marina MAGNAVAL, 2020-06-18
The insurance sector of Moldova ended the first quarter of 2020 with
a decline in GWP volumes, both in national currency (-1.11%) and
in euro (-4.47%*). GWP amounted to MDL 339.30 million (~EUR 16.87
million*), according to the data published by the National Commission
of Financial Market.
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| EVENTS |
| CURRENT
XPRIMM REPORTS |
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