TOP NEWS
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RENOMIA strengthens its position within CEE and enters Latvia
by Alexandra GUZUN, 2021-01-19
RENOMIA purchased a majority stake in R&D APDROSINASANAS BROKERS (R&D Insurance Brokers Ltd.), a local company based in Riga and strengthened its position within Central and Eastern Europe (CEE) as Latvia became the eighth European country in which RENOMIA has direct representation.
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Romania: ASF fined the two largest MTPL insurers
by Andrei Victor, 2021-01-18
Following the control actions conducted by ASF, CITY Insurance and EUROINS Romania - the two insurers accounting for almost 75% of the MTPL insurance portfolio in Romania - were sanctioned by the local insurance market supervisor, www.1asig.ro wrote.
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SCOR will provide life insurance through Bayer and One Drop
by Alexandra GUZUN, 2021-01-20
SCOR has announced a new partnership with Life Science company Bayer and One Drop to provide life insurance products for people with chronic conditions. They will bring One Drop's AI-powered digital health platform to life insurance carriers and policyholders across the United States.
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E-scooters: insurance and safety implications from GFIA
by Alexandra GUZUN, 2021-01-20
GFIA (Global Federation of Insurance Associations) has issued a paper regarding their recommendations for the e-scooters which became one of fastest growing urban mobility trends and it is crucial to understand the risk profile of e-scooters and jurisdictional best practices for regulating them.
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Digital innovation by SCOR will improve the underwriting process
by Alexandra GUZUN, 2021-01-21
Vitae, an innovative biometric risk calculator will be developed by SCOR in order to improve the underwriting process and is a cutting-edge biometric risk calculator based on advances in medical research and employing innovative Machine Learning techniques.
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AXA extends its smart working strategy globally
by Alexandra GUZUN, 2021-01-21
AXA implements what it calls "smart working strategy" to all of its entities worldwide. The strategy is about a hybrid way of working and will be deployed by 2023, as a press release issued by AXA.
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British insurers bound to pay Covid-19 related BI claims
by Daniela GHETU, 2021-01-18
The U.K. Supreme Court ruled last week that insurers must pay out to hundreds of thousands of companies forced to close during the country's first pandemic lockdown, ruling in favor of the Financial Conduct Authority in a landmark case over business interruption cover, Law360 (London) reported.
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MARKET & TRENDS
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STATISTICS
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STATISTICS: Polish insurers' Q3 profits decreased by 13% y-o-y
by Andrei Victor, 2021-01-21
Polish insurance market totaled PLN 46.5 billion (EUR 10.2 billion) at the end of September 2020, down by 1% y-o-y, according to the quarterly market figures published by The Polish Financial Supervision Authority (KNF). At the same time, claims and benefits paid by local insurers decreased by ~4% y-o-y to PLN 29.5 billion EUR 6.5 billion.
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STATISTICS: Hungary: Insurers' Q3 profits expanded to almost EUR 200 million
by Andrei Victor, 2021-01-21
According to the quarterly MNB published statistics, at the end of September 2020 the aggregate market gross profit of Hungarian insurers was up by 27.20% y-o-y to HUF 70.45 billion the equivalent of EUR 193 million (vs. HUF 55.39 billion), while the value of net profit increased to HUF 65.96 billion (EUR 180 million).
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ON THE MOVE
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CHUBB appoints Jeremiah KONZ Chief Reinsurance Officer
by Andrei Victor, 2021-01-18
CHUBB announced that Jeremiah KONZ has been appointed with immediate effect as Chief Reinsurance Officer. He succeeds Michael KESSLER, who was appointed Division President of the company's global cyber risk insurance business. Jeremiah KONZ will report to John KEOGH, President and Chief Operating Officer of CHUBB.
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CHUBB CFO Philip BANCROFT to retire; Peter ENNS to replace him effective July 1
by Andrei Victor, 2021-01-18
Philip BANCROFT - CHUBB Group Executive Vice President of and Chief Financial Officer, plans to retire from the company on July 1 after 19 years of service. Peter ENNS has agreed to join the company on or before April 1 as Executive Vice President, Finance, CHUBB Group and succeed BANCROFT upon his retirement.
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PARTNER EVENT
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RUSSIA: Conference "InsurSelling-2021. Insurance sales - strategy and tactics, transformation and evolution, myths and reality "
by press.release, 2021-01-18
On January 27, 2021, the first conference "InsurSelling-2021. Insurance sales - strategy and tactics, transformation and evolution, myths and reality", organized by "Insurance Today" in a mixed, online-offline format, in which some of the speakers gather in a specialized studio, and all other speakers and participants take part in the online mode, will take place in Moscow.
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