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NEWS |
New
episode of the international show XPRIMM TIME FOR BUSINESS focused on the Russian
re/insurance market
by Alexandra GUZUN, 2020-11-12
Continuing the list of markets that the show aims to analyze, the new international
edition of XPRIMM TIME FOR BUSINESS gave the opportunity to the guest speakers
to talk about the challenges that the pandemic has brought to the Russian re/insurance
market and how did it face with the new changes.
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XPRIMM's Motor Insurance Report has been launched during the latest episode of XPRIMM TIME FOR BUSINESS
by Alexandra GUZUN, 2020-11-09
The most recent international edition of the show XPRIMM Time for Business has focused on the motor insurance in Europe and announced the launch of the latest number of Motor Insurance Report, now available in digital format.
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Disruptive technology - a new challenge for the future of mobility and motor insurance
by Alexandra GUZUN, 2020-11-06
E-scooters, the new automated vehicles that have become more and more present on the roads all around the world, are raising questions in terms of safety, insurance and liability for accidents.
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EIOPA: Risk exposures of the EU insurance sector slightly reduced compared to July risk assessment
by Cosmin CONCEATU, 2020-11-10
The European Insurance and Occupational Pensions Authority (EIOPA) published its updated Risk Dashboard based on the second quarter of 2020 Solvency II data, the results showing that the risk exposures of the European Union insurance sector slightly reduced, compared to July risk assessment.
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Crawford & Company establishes cyber incident response hub for CEE
by Cosmin CONCEATU, 2020-11-09
Crawford & Company announced the establishment of a cyber incident response hub for Central and Eastern Europe (CEE). The cyber operation comprises a central incident response hub located in Warsaw, Poland supported by a number of local cyber incident response managers in countries across CEE.
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Vienna Insurance Group established its own assistance company in the Baltics
by Cosmin CONCEATU, 2020-11-09
Vienna Insurance Group (VIG) announced the establishment of Global Assistance Baltic, continuing to expand its own service companies. The group's own assistance services will now be used in ten countries.
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New Law on Compulsory Traffic Insurance adopted in the Federation of Bosnia and Herzegovina (FBiH)
by Daniela GHETU, 2020-11-11
A new Law on Compulsory Traffic Insurance was adopted in the Federation of Bosnia and Herzegovina (FBiH), one of the two administrative entities that form Bosnia and Herzegovina (BiH). The new Law replaces the Law on MTPL insurance from 2005.
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Fitch has rated a "BB" IFS to ONIX Asigurari, Outlooks are Stable
by Alexandra GUZUN, 2020-11-11
ONIX Asigurari S.A. has been rated by Fitch with a score of 'BB' Insurer Financial Strength (IFS) and a 'BB-' Issuer Default Rating (IDR) according to the agency's report, released on 5 November.
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Sava Re has cancelled General Meeting of shareholders and temporarily suspended the distribution of dividends
by Alexandra GUZUN, 2020-11-10
Sava Re led has announced on 6 November that the notice of the 37th general meeting which was scheduled for 16 November 2020 is called off due to new circumstances and risks that arose in some markets after the outbreak of the second wave of the pandemic, the company announced in a press release.
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MARSH: Global commercial insurance pricing went up 20% in Q3 2020
by Andrei Victor, 2020-11-09
Re/insurance broker MARSH said that Q3 2020 Global Commercial Insurance prices increased by 20% being the largest since Global Insurance Market Index was launched in 2012.
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Global premiums is expected to grow by 3.4% in 2021, following a contraction of 1.4% this year
by Andrei Victor, 2020-11-12
Global insurance premiums expected to grow by 3.4% in real terms in 2021, after contracting an estimated 1.4% in 2020, according to the latest sigma study. At the same time, world GDP is expected to contract by 4.1% this year in what is so far the deepest recession of our lifetimes.
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SCOR reports net income of EUR 135 million at the end of September 2020
by Cosmin CONCEATU, 2020-11-09
SCOR ended the first nine months of 2020 with a net income of EUR 135 million, 66.3% lower year-on-year. The third quarter's net income was EUR 109 million, 5.2% lower than the third quarter of 2019.
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GC launches new Marine & Energy unit
by Andrei Victor, 2020-11-09
Rinsurance broker GUY CARPENTER part of of Marsh & McLennan Companies announced the launch of a new Marine & Energy mutual, agency and captive reinsurance solutions practice.
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The 7.0-magnitude earthquake of October 30th, designated as catastrophe by PCS Turkey
by Daniela GHETU, 2020-11-10
The 7.0-magnitude earthquake that struck the Aegean Sea between the Turkish coast and the Greek island of Samos, strongly affecting the Izmir region of Turkey has been designated as a catastrophe event by Property Claim Services (PCS), a division of Verisk Analytics, Artemis reported.
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KAZAKHSTAN: Insurers' January-September income increased by almost 25% y-o-y
by Marina MAGNAVAL, 2020-11-11
From January to September 2020, the income of insurers in Kazakhstan increased by 24.6% y-o-y, to KZT 428.6 billion (~EUR 0.85 billion*), Allinsurance.kz reports.
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RUSSIA: from January to September, total profit of insurers grew by 26% y-o-y
by Marina MAGNAVAL, 2020-11-09
According to preliminary results for three quarters of 2020, non-life sector decreased by 2%, to RUB 267 billion (~EUR 2.89 billion*), while life insurance was the market driver having increased by 16% to RUB 121 billion, the Deputy chairman of the Bank of Russia Vladimir CHISTYUKHIN said at the VI Annual "Forum of the insurance market leaders: Remote products and digital challenges", on October 29.
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RUSSIA: On October 29, at the "Forum of Insurance Market Leaders: Remote Products and Digital Challenges", an award ceremony was held for the leaders of the insurance market
by press.release, 2020-11-09
On October 29, 2020, the 6th Annual "Forum of Insurance Market Leaders: Distance Products and Digital Challenges" was held. The event was organized by the Insurance News Agency and the BusinessDrom Analytical Center.
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RUSSIA: On October 29, 2020, the Sixth Annual Forum of Insurance Market Leaders: Distance Products and Digital Challenges was held in Moscow
by press.release, 2020-11-09
The organizers of the largest event in the insurance market were the Insurance News Agency (ASN) and the Analytical Center BusinessDrom. The forum was held at the same time in offline and online formats, with over 350 managers, owners of insurance companies and their partners participating.
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RUSSIA: SBERBANK Insurance has entered into an obligatory agricultural risk reinsurance agreement
by Marina MAGNAVAL, 2020-11-10
SBERBANK Insurance has entered into an obligatory reinsurance agreement of agricultural risks. The coverage extends to insurance of crops and perennial plantations, as well as livestock, the insurer said.
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RUSSIA: From April to October, ROSGOSSTRAKH Life paid RUB 3.7 million for events related to the coronavirus
by Marina MAGNAVAL, 2020-11-12
ROSGOSSTRAKH Life has paid RUB 3.7 million (~EUR 40 thousand*) for insured events related to COVID since the beginning of the pandemic (from April to October 2020), the insurer said in a press release.
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UKRAINE: In January-September, income tax of the insurance sector increased by more than 21% y-o-y
by Marina MAGNAVAL, 2020-11-11
In January-September 2020, income tax of Ukrainian insurance companies amounted to UAH 1.245 billion (~EUR 37.54 million*), which is 21.3% more y-o-y, Vice President of the League of Insurance Organizations of Ukraine (LIOU), Aleksandr ZALETOV, said.
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| ON
THE MOVE |
SCOR appoints Adrien Couret as a Board Director
by Cosmin CONCEATU, 2020-11-09
SCOR announced the decision of its Board of Directors, which met
on November 5, 2020, to co-opt Adrien Couret, Chief Executive Officer
of the Macif group, as a Director. This decision follows Jean-Marc
Raby's resignation from the SCOR Board to pursue other interests.
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SCOR appoints Myriam Moufakkir as Chief Business Transformation
Officer
by Cosmin CONCEATU, 2020-11-10
SCOR announced the appointment of Myriam Moufakkir as SCOR Global
P&C's
new Chief Business Transformation Officer. She will be reporting
to Jean-Paul Conoscente, CEO of SCOR Global P&C.
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LANGENBACH to replace FOKKEMA on TALANX AG's Board of Management
by Andrei Victor, 2020-11-12
Sven FOKKEMA, the member of TALANX AG's Board of Management responsible
for the Retail International division, will leave the company by
mutual agreement and on the best of terms as of 31 December 2020,
as the German insurer announced in a statement.
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MetLife named Pawan Verma as Chief Information Officer
by Cosmin CONCEATU, 2020-11-09
MetLife announced that Pawan Verma will join the company as Executive
Vice President and Chief Information Officer, effective November
9, 2020. Verma will report to Bill Pappas, Executive Vice President
and Head of Global Technology and Operations.
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| MARKETS & TRENDS |
| STATISTICS |
STATISTICS: BOSNIA
AND HERZEGOVINA, 3Q2020: Insurers' GWP totaled EUR 291 million
at end-September
by Andrei Victor, 2020-11-12
Bosnian insurers reported aggregate 3Q2020 GWP of BAM 569.13 million
(~EUR 290.99 million*), according to the most recent market data
published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.
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STATISTICS: TURKEY,
3Q2020: Market posts Q3 negative rates in EUR due the TRY fall
by Andrei Victor, 2020-11-12
According to the quarter figures published by TSB - Association of
Insurance and Reinsurance Companies of Turkey - at the end of September
2020 the local insurance market increased by 22.4% y-o-y reaching
TRY 59.3 billion (~EUR 6.5 billion*).
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STATISTICS: KAZAKHSTAN,
3Q2020: Over 60% of GWP growth was provided by life insurers
by Marina MAGNAVAL, 2020-11-12
During the first three quarters of 2020, the GWP volume in Kazakhstan
insurance market increased by 8.5% y-o-y, to KZT 411.3 billion (~EUR
819 million*), according to data published by the country's National
Bank. At the same time, over 60% of the market GWP growth was provided
by life insurers, their share in the market premiums increasing by
2.1 percentage points to 38.5%.
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| VIDEO |
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XPRIMM Time For Business:
Russia - Re/insurance markets facing the Covid crisis.
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