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NEWS |
Insurance Europe responds to ESAs consultation on ESG disclosures
by press.release, 2020-08-18
Insurance Europe has published its response to the European Supervisory Authorities' (ESAs) joint consultation concerning environmental, social and governance (ESG) disclosures.
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Global Commercial insurance pricing up 19% in Q2
by Andrei Victor, 2020-08-17
Global insurance broker MARSH released last week the Global Insurance Market Index for the second quarter of 2020. The increase, the largest since the index was launched in 2012, follows y-o-y average increases of 14% in the first quarter and 11% in the fourth quarter of 2019.
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Beirut explosion insurance claims reached USD 425 million
by Ana PREDA, 2020-08-18
Insurance claims from the 4th August Beirut explosion reached USD 425 million, Caretaker Economy Minister Raoul Nehme said, as mentioned by Middle East Insurance Review.
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KOSOVO: CBK temporarily reduces border-MTPL tariffs by 35%
by press.release, 2020-08-19
The Executive Board of the Central Bank of the Republic of Kosovo in the meeting held on July 29 has decided to temporarily reduce the motor liability border insurance.
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LITHUANIA: Unit-linked insurance more transparent - after the Central Bank declares its position, consumers receive greater benefits
by Andrei Victor, 2020-08-17
Most insurance undertakings operating in Lithuania and providing unit-linked insurance services considered the Bank of Lithuania's position on the recovery of management fees (rebates). As a result, unit-linked insurance clients already benefit more and can accumulate more capital.
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AXA is in talks to sell its Greek operations to GENERALI, market rumors say
by Andrei Victor, 2020-08-19
French insurer AXA is in talks to sell its Greek operations to Italian group Assicurazioni GENERALI, Blomberg reports citing sources, "as part of its plans to ditch business lines deemed surplus to requirements".
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UNIQA, 1H2020: Premiums written remained solid at EUR 2.8 billion
by press.release, 2020-08-20
UNIQA Group ended the first six months of 2020 with a consolidated net profit of EUR 41 million, 61.7% lower year-on-year.
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Triglav Group, 1H2020: Net profit decreased slightly to EUR 34 million
by press.release, 2020-08-20
For the first half of 2020, Triglav Group reported a profit before tax of EUR 40.6 million, down by 3% year-on-year. The net profit of the group was EUR 33.5 million, 3% lower than the same period of prior year.
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Sava Insurance Group, 1H2020: Net profit expanded by 42.5% y-o-y
by press.release, 2020-08-20
From January to June 2020, Sava Insurance Group generated an operating revenue of EUR 314 million (+16.6%) and a net profit of EUR 32 million (+42.5%). The operating revenue reached 51.5% from its original full year 2020 target, while the net profit 71.5%.
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Talanx Group, 1H2020: Net income fell to EUR 325 million, negatively affected by coronavirus
by press.release, 2020-08-19
For the first six months of 2020, Talanx Group generated a net income of EUR 325 million, 31.8% lower year-on-year, negatively affected by the impact of coronavirus on the economy, just like the majority of European insurance groups.
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IGI, 2Q2020: Net profit after tax increased to USD 12 million
by press.release, 2020-08-19
International General Insurance (IGI) ended the second quarter of 2020 with a net profit (after tax) of USD 12 million, 43% higher year-on-year.
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Lloyd's Underwriting Room reopens on 1 September
by Daniela GHETU, 2020-08-18
Lloyd's has announced its Underwriting Room reopens on 1 September, while some digital enhancements were made, to complement and connect with the best features of the physical Underwriting Room.
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RUSSIA: GWP of ROSGOSSTRAKH Life in 1H2020 increased by 2.5 times y-o-y
by Marina MAGNAVAL, 2020-08-19
For the first half of 2020, total GWP of ROSGOSSTRAKH Life exceeded RUB 9.5 billion (~EUR 120.3 million*) and the insurer's market share grew by 4.9%, allowing the company to rank 6th (vs. 12th position a year ago) in the local market ranking, as the insurer mentions in its press release.
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RUSSIA: 2nd practical conference "Bancassurance. Era of ecosystems" to be held on September 10
by press.release, 2020-08-20
On September 10, 2020, the magazine "Bankovskoe obozrenie" and "BusinessDrom" analytical center will hold a conference dedicated to partnership between insurers and banks as well as intermediaries and marketplaces.
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UKRAINE: January-June Green Card premiums decreased by more than 36% y-o-y
by Marina MAGNAVAL, 2020-08-18
GWP under Green Card policies of Ukrainian insurance companies in the first half of 2020 decreased by 36.4% y-o-y, Forinsurer reports.
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UKRAINE: MTPL GWP in 2Q2020 increased by almost 20% y-o-y
by Marina MAGNAVAL, 2020-08-20
The number of MTPL contracts concluded in 2Q2020 amounted to 2.26 million units, which is almost at the same level as the prior year. MTPL GWP reached UAH 1.6 billion (~EUR 53.9 million*), which in local currency is 19.9% more y-o-y, as Motor (Transport) Insurance Bureau of Ukraine (MTIBU) informed on its website.
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UZBEKISTAN: In 1H2020 UZBEKINVEST increased its international reinsurance presence by 8 times
by Marina MAGNAVAL, 2020-08-19
In the first half of 2020, UZBEKINVEST insurance company increased its presence in the international reinsurance market by 8 times, as Trend reports citing the company.
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EVENT: Bancassurance Asia Masterclass 2020, to be held online, between 22-24 September
by press.release, 2020-08-20
Equip Global Pte Ltd organizes its 3-days "Bancassurance Asia Masterclass 2020" event online, between 22-24 September 2020. Visit their website for more informations!
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THE MOVE |
WTW appoints Fiona SHAW to head Data & Analytics for global fac. team
by Andrei Victor, 2020-08-17
WILLIS TOWERS WATSON (WTW) announced the appointment of Fiona SHAW as head of Data, Analytics and Innovation for its global Facultative business.
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Brian James appointed as IGI's Class Underwriter for Cargo
by press.release, 2020-08-18
International General Insurance Holdings announced the appointment of Brian James as Class Underwriter for Cargo.
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AIG Appoints David McElroy CEO, General Insurance, and Executive VP
by Andrei Victor, 2020-08-17
American International Group announced that David McElroy, currently President and Chief Executive Officer of the North American operations of General Insurance, has been promoted to Chief Executive Officer, General Insurance, and Executive Vice President, AIG, effective immediately.
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Zavarovalnica Triglav appoints new Chairman of the Supervisory Board
by press.release, 2020-08-20
At its session held on 18 August 2020, the Supervisory Board of Zavarovalnica Triglav d.d. appointed Andrej Andoljsek as Chairman of the Supervisory Board of Zavarovalnica Triglav.
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THE CORONAVIRUS FRONT |
| MARKETS & TRENDS |
| STATISICS |
STATISTICS: CROATIA,
1H2020: Insurers' business declined by 2.30% y-o-y due to double
digit decrease in life insurance
by Andrei Victor, 2020-08-20
Croatian insurers H1 2020 GWP fell by 2.30% y-o-y to HRK 5.66 billion
(~EUR 749 million*), according to the statistics published by Croatian
Insurance Bureau.
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STATISTICS: KAZAKHSTAN, 1H2020:
Voluntary insurance increased by more than 13% y-o-y, while compulsory
segments decreased slightly
by Marina MAGNAVAL, 2020-08-20
In 1H2020, the insurance market of Kazakhstan grew by 10% y-o-y (in
local currency), the overall market GWP amounting to about KZT 280.48
billion (~EUR 616 million*).
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STATISTICS: KYRGYZSTAN,
1H2020: All market segments recorded negative GWP dynamics, except
for life insurance
by Marina MAGNAVAL, 2020-08-20
In 1H2020, the insurance market of Kyrgyzstan decreased by more than
22% y-o-y, to KGS 405 million (~EUR 4.74 million*), as the data published
by the State Service of regulation and supervision of the financial
market at the government of the Kyrgyz Republic show.
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STATISTICS: MONTENEGRO,
1H2020: Insurance market remained at the 1H2019 level
by Andrei Victor, 2020-08-20
Despite COVID-19 pandemic, at the end of June 2020, the Montenegrin
insurance market figures published by the local Insurance Supervision
Agency (ISA) reveal that the local market remained at the 1H2019 level:
GWP of EUR 46.50 million vs. EUR 46.59 million at the end of June 2019.
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