TOP NEWS
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Croatia Osiguranje posted Q1 2022 net profit of EUR 17.7 million
by Andrei Victor, 2022-05-02
Croatian conglomerate ADRIS Grupa with business in tourism, food production and insurance (Croatia Osiguranje) reported Q1 2022 total revenue of HRK 1.19 billion (EUR 157 million), up 11% year-on-year. Revenue from the sales of goods and services was up 16% year-on-year, to HRK 1.11 billion (EUR 147 million). Consolidated profit before interest, taxes and amortization (EBITDA) was up 4%, to HRK 173 million (EUR 22.8 million). Net profit in Q1 2022 was up 14% year-on-year, to HRK 12.2 million (EUR 1.6 million).
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Slovakia: Former NBS Director sentenced to prison for taking bribes
by Andrei Victor, 2022-05-02
The Supreme Court of Slovakia sentenced Ivan BARRI, a former Director of the Securities Market, Insurance and Pension Savings Department of the National Bank of Slovakia, to five years in prison in case of the bankruptcy of former life insurer Rapid Life, local media announced.
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MMC Q1 revenue rises to USD 5.5 bn
by Andrei Victor, 2022-04-29
Global re/insurance broker MMC posted Q1 2022 aggregate revenue of USD 5.5 billion, an increase of 9% compared with the first quarter of 2021. Q1 operating income was USD 1.4 billion, an increase of 6% from the prior year while net income attributable to the Company was USD 1.1 billion, or USD 2.10 per diluted share, compared with USD 1.91 in Q1 2021.
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ARMENIA: the pilot program for agricultural insurance to be expanded
by Marina MAGNAVAL, 2022-05-03
A decision was made to expand the pilot agricultural insurance program in Armenia so that farmers can insure grain crops, in particular wheat, barley, oats, against the natural risk of drought, ArmInfo wrote referring to the official statement of the Armenian Ministry of Economy.
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AON Q1 2022 revenue increased to USD 3.7 bn
by Andrei Victor, 2022-05-02
Global re/insurance brokerage company AON reported Q1 2022 total revenue worth USD 3.67 billion, an increase of USD 145 million or 4% more y-o-y, while total operating expenses increased 1% y-o-y to USD 2.3 billion, of which USD 1.76 billion - related to compensation and benefits. At the same time, operating income increased 10% to USD 1.36 billion from USD 1.24 billion at the end of March 2021.
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Marsh: Global commercial insurance prices increased by 11% in Q1 2022
by Andrei Victor, 2022-05-02
Global commercial insurance prices increased 11% in the first quarter of 2022, according to the Global Insurance Market Index released by insurance broker Marsh, continuing a trend of moderating rate increases that began in Q1 2021. "While this is the 18th consecutive quarter of increases, the rate of increase continues to moderate across most lines of business and in almost all geographies".
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WTW revenue decreased 3% to USD 2.16 billion
by Andrei Victor, 2022-05-02
Global re/insurance broker WTW posted Q1 2022 revenue worth USD 2.16 billion, a decrease of 3% as compared to USD 2.23 billion for the same period in the prior year. At the same time, net income decreased from USD 736 million to USD 125 million.
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TOP NEWS
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FIAR 2022: new opportunities for the insurance intermediaries under scrutiny
by XPRIMM, 2022-05-05
Romania is one of the few CEE markets where brokers absolutely dominate the insurance distribution. While motor insurance is the main business line for the retail brokers, there are other business lines that are ready to offer additional opportunities. At FIAR 2022, suretyship and health insurance will be discussed in this context.
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STATISTICS
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STATISTICS: SEE insurance market compressed by 12.4% during 2021
by Andrei Victor, 2022-05-02
The Southeastern Europe (SEE) insurance market defined by Cyprus, Greece and Turkey insurance markets, ended 2021 with aggregate GWP worth EUR 12.2 billion, 12.4% less y-o-y. The negative rate was driven by the more than EUR 2 billion compression reported by the largest regional insurance market: Turkey.
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ON THE MOVE
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Hungary: MABISZ elected Mihaly Erdos as President
by Andrei Victor, 2022-05-02
The Board of MABISZ - the Association of Hungarian Insurers - announced in a statement the election of a new President and a new Vice President, after Anett Pandurics resigned from the Association's Presidency for family reasons.
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SAVA Re reappoints Polona Pirs Zupancic as management board member
by Andrei Victor, 2022-05-02
Slovene re/insurance group SAVA Re announced its Supervisory Board reappointed Polona Pirs Zupancic, whose five-year term of office expires on 14 January 2023, as a member of the management board for a further term. Her new five-year term starts on 15 January 2023.
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PZU appoints Piotr Nowak to the Management Board
by Andrei Victor, 2022-05-02
Polish insurance group PZU SA informed that on 27 April 2022, the Company's Supervisory Board adopted a resolution to appoint Piotr Nowak to the PZU SA Management Board and entrust him with discharging the function of being a PZU SA Management Board member.
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EVENTS
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CURRENT XPRIMM REPORTS
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