 TOP
NEWS |
XPRIMM is announcing the online launch of two of its most important insurance reports
by XPRIMM, 2020-07-16
XPRIMM Insurance Report, containg the financial results for the full
year 2019 for over 30 countries in Central and South - Eastern Europe
and the former sovietic countries, as well as analysis and interviews
with relevants stakeholders
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The Polish KNF gets higher authority in relation with the foreign insurers operating on the principle of a single license
by Daniela GHETU, 2020-07-16
On 2nd of July 2020 the Act of 28 May 2020 amending the Act on compulsory insurance, the Insurance Guarantee Fund and the Polish Motor Insurers' Bureau as well as the Act on insurance and reinsurance activity was published, beinsured portal reported. The new regulations introduce new rules for the supervision of foreign insurers.
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NN Romania enters the non-life insurance market
by Daniela GHETU, 2020-07-16
NN Romania, the life insurance market's leader, announced plans to expand the activity by entering the non-life insurance market. Earlier this year, the Dutch insurer has made the same move on the Hungarian market.
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SCHIAVETTO,
GENERALI CEE: COVID-19 has already shown a more serious impact during the second
half of March than that registered at the end of 2008
by Andrei Victor, 2020-07-14
Coronavirus crisis' impact by the end of March was already higher than that registered
at the end of 2008, many observers foreseeing that the pandemic might cause the
most serious crisis since the 1930s, stated Carlo SCHIAVETTO, CFO at GENERALI
CEE Holding for the Progetto Repubblica Ceca magazine.
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Guy Carpenter launches new facultative operation Hybrid Solutions UK
by press.release, 2020-07-16
Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a business of Marsh & McLennan Companies, announced today the launch of Hybrid Solutions UK, a division of GC Fac, and the appointment of Laurence UPTON to lead the new operation.
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GENERALI launches its first ever global advertising campaign
by press.release, 2020-07-14
Italian group Generali launches its first-ever Global Advertising Campaign in its 189-year history, uniquely focused on celebrating its 150,000 plus agents who embody the true meaning of Lifetime Partner.
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AM Best affirms credit ratings of UnipolSai Assicurazioni S.p.A.
by press.release, 2020-07-14
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of UnipolSai Assicurazioni S.p.A. (UnipolSai) (Italy). The outlook of these Credit Ratings (ratings) is stable.
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AZERBAIJAN:
premiums in motor insurance for the first five months decreased by 18% y-o-y
by Marina MAGNAVAL, 2020-07-16
According to the Association of insurers of Azerbaijan, the pandemic led to a
decrease in premiums in all major insurance segments as of the end of May 2020.
More  Продолжение
BELARUS:
for the first five months of 2020, the market share of voluntary insurance reached
64%
by Marina MAGNAVAL, 2020-07-16
From January to May 2020, Belarusian insurers generated GWP worth BYN 619.9 million
(~EUR 231.55 million*), which is 7.1% more y-o-y, according to the data of the
Ministry of Finance of the Republic.
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KYRGYZSTAN: the law on MTPL for regular car owners to come into force on January 1, 2022
by Marina MAGNAVAL, 2020-07-14
This year the law on mandatory third-party liability insurance (MTPL) in Kyrgyzstan begins to be applied to foreigners who own cars too.
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RUSSIA: in April and May, the market decreased by about 15% y-o-y
by Marina MAGNAVAL, 2020-07-14
In April and May 2020, market GWP decreased by almost 15% y-o-y. However, this contraction was not catastrophic for the market, as the Expert RA rating agency noted in its press release.
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UKRAINE:
MTIBU: payments for uninsured vehicles in total amount of paid claims for the
first half of the year reached almost 66%
by Marina MAGNAVAL, 2020-07-16
In January-June 2020, MTIBU (Motor (Transport) Insurance Bureau) made payments
from the guarantee funds of the Bureau in the total amount of UAH 104.3 million
(~EUR 3.49 million*).
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International General Insurance Holdings' Financial Strength Ratings Confirmed by S&P Global
by press.release, 2020-07-16
Ltd. (IGI) announced that S&P Global Ratings has confirmed its financial strength ratings at A- with a Stable outlook. The ratings apply to IGI's two subsidiaries International General Insurance Co. Ltd. (Bermuda) and International General Insurance Company (UK) Ltd.
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| ON
THE MOVE |
VIG
CFO Liane HIRNER was appointed by EIOPA to the Insurance and Reinsurance
Stakeholder Group IRSG
by Andrei Victor, 2020-07-14
The EIOPA Board of Supervisors confirmed Liane HIRNER, CFO of Vienna
Insurance, for a four-year mandate in the Insurance & Reinsurance
Stakeholder Group (IRSG).
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Henry LAWRENCE appointed Managing Director, Guy Carpenter & Company
Fac UK
by press.release, 2020-07-14
Guy Carpenter & Company, LLC, a leading
global risk and reinsurance specialist and a business of Marsh & McLennan Companies, announced the appointment of Henry LAWRENCE as a Managing
Director, GC Fac UK, effective 17 August.
More
Appointments approved in the top risk management positions at the
Polish VIG and WARTA companies
by Daniela GHETU, 2020-07-16
The Polish Financial Supervision Authority decided on July 14,
2020 on several appointments for the position of risk management
responsible in four insurance companies belonging to the VIG si
WARTA groups.
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| MARKET & TRENDS |
Swiss
Re: Global insurance premium volumes will recover to pre COVID-19
crisis levels in 2021
by Andrei Victor, 2020-07-14
The insurance industry is set to overcome this year's COVID-19-induced
global economic recession, the latest Swiss Re Institute's sigma says,
estimating that total premium volumes in advanced markets (life and non-life)
will shrink by 4% this year and return to positive growth of more than
2% in 2021. In the emerging markets, premium growth will remain in positive
territory in both years, up 1% in 2020 and 7% in 2021.
More |
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| CONTRIBUTORS |
 A Catastrophe Insurance System for the European Union
An integrated risk management plan for catastrophe risks in the EU, consisting of three layers is the proposition launched by Milton NEKTARIOS, Associate Professor of Insurance, Department of Statistics and Insurance, University of Piraeus, Greece in his paper titled A Catastrophe Insurance System for the European Union
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| STATISTICS |
STATISTICS: Serbian
insurers' GWP rises 8.52% in Q12020
by Andrei Victor, 2020-07-16
The GWP of Serbian insurance companies increased 8.52% in Q1 2020,
reaching RSD 26.94 billion ~EUR 229 million), NBS quarterly data
showed.
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STATISTICS: Turkish
insurance sector sees 25% y-o-y growth in Q1
by Andrei Victor, 2020-07-16
Total GWP generated by the insurance industry in Turkey reached
TRY 21.83 billion (EUR 3.03 billion) in the first three months
of this year, representing an increase of 24.79% compared to the
corresponding period of 2019, according to data from the Insurance
Association of Turkey -TSB.
More
STATISTICS: UZBEKISTAN,
1Q2020: life insurance dropped by more than 36%, while mandatory
classes saw impressive growth
by Marina MAGNAVAL, 2020-07-16
In 1Q2020, the market of Uzbekistan reduced volumes by 3.77% in
local currency, to UZS 503.12 billion (EUR 47.3 million*). The
down trend was recorded in life insurance and voluntary types,
while non-life and mandatory insurance increased, according to
the data, published by the Ministry of finance of the Republic.
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