TOP NEWS
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by Daniela GHETU, 2022-09-29
The new recommendations of the Polish Financial Supervision Authority (KNF), concerning the liquidation of motor insurance claims, which will come into force on November 1, 2022 may have a significant contribution to drive inflation in vehicle claims covered by MTPL insurance up to 19-27% in Q1 2023, analyst quoted by Gazeta Ubezpieczeniowa believe.
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by Daniela GHETU, 2022-09-29
Following its regular annual rating review, the rating agency AM Best (Agency) affirmed the financial strength rating of Sava Re of "A" (Excellent) and its long-term issuer credit rating of "a" (Excellent), both with a stable outlook, the Slovenian reinsurer said.
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by Daniela GHETU, 2022-09-27
"Risk-based underwriting is what keeps insurance fair and financially sustainable," explains Insurance Europe in a new video, the first in a series that the European federation of insurers is producing to explain how insurance works.
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by Marina MAGNAVAL, 2022-09-27
The Central Bank of Azerbaijan (CBA) has adopted new rules in insurance, which are to increase the level of satisfaction of policyholders, Trend reports according to Vusal GURBANOV, director of the CBA's insurance control department.
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by Marina MAGNAVAL, 2022-09-27
Insurance company Green Insurance Georgia has placed Class B 9,000,000 shares for trading on the Georgian Stock Exchange. The nominal value of one share is 1 GEL, as the company recently informed on its website.
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by Marina MAGNAVAL, 2022-09-27
According to the financial reports of Georgian insurance companies, the number of insured vehicles in the country makes only 7% of the total fleet, or 108,486 units, Business Georgia wrote.
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by Marina MAGNAVAL, 2022-09-27
Since September Georgians can save up to 30% when purchasing or renewing their motor insurance with GPI Holding. When purchasing a motor insurance package with a Mastercard card, 20% of the amount will be returned in the form of cashback, in addition, a 10% discount is offered by Jipay, gpih.ge wrote.
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by Marina MAGNAVAL, 2022-09-28
Kazakhstan plans to gradually introduce a system of compulsory professional liability insurance for medical workers, Allinsurance.kz wrote with reference to Kapital.kz.
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by Marina MAGNAVAL, 2022-09-28
In January-August 2022, the TAS group, whose companies are in the top 20 insurers of Ukraine, paid out UAH 589.22 million (~EUR 15.92 million). The largest part of compensation payments was made in motor insurance (Motor Hull, MTPL, Green Card), Forinsurer reports.
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by Daniela GHETU, 2022-09-29
The 3rd FAIR Reinsurance Forum, hosted by Milli Re, was held at the Hilton Istanbul Bosphorus Hotel on September 22-23, 2022 under the theme of "Impact of Rising Inflation and Resilience of the Re/Insurance Industry".
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by press.release, 2022-09-27
Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan, announced it has entered an agreement with TNEDICCA?, a leader in location-based traffic-crash intelligence and predictive analytics. This exclusive agreement enables Guy Carpenter to deliver enhanced auto analytics to its insurance carrier clients.
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by Andrei Victor, 2022-09-29
According to a report released by Insuramore for the global commercial P&C (non-life) insurance market, 145 insurer groups had gross direct premiums written (GDPW) of more than USD 1 billion in 2021.
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by press.release, 2022-09-27
Lloyd's specialist insurance and reinsurance subsidiary of QIC Group, Antares Managing Agency Ltd, announced Antares Syndicate 1274 has been ranked first for investment performance according to J.P. Morgan Asset Management's Lloyd's Peer Analysis.
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by press.release, 2022-09-27
PlanetWatchers, a revolutionary crop monitoring company that can provide detailed crop insights, at any time, regardless of weather and lighting conditions, has raised USD 11 million as part of its series A funding round as part of the company's ambitious growth plans.
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by Daniela GHETU, 2022-09-27
Insurance Europe's Reinsurance Advisory Board (RAB) has published its comments on the Central Bank of Ireland's (CBI) consultation paper on its guidance for (re)insurance undertakings on intragroup transactions and exposures.
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ON THE MOVE
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by Andrei Victor, 2022-09-27
Global re/insurance broker MMC (Marsh McLennan) announced that John Q. Doyle has been named President and Chief Executive Officer, effective January 1, 2023. "Daniel S. Glaser will retire from Marsh McLennan at year end following a decade leading the Company through a period of extraordinary growth and change".
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by Andrei Victor, 2022-09-27
French reinsurer SCOR announced the arrival of Chris Beazley as CEO of SCOR UK and the SCOR Syndicate, effective 20th September 2022, subject to regulatory approval.
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TOP EVENT
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by Daniela GHETU, 2022-09-29
The First Annual Conference of the Eastern European Risk and Insurance Association (EERIA) tool place on 16 September, bringing together renowned and high-level keynote speakers and panelists from academia, regulatory bodies, and insurance industry, as well as experienced and young researchers to discuss on various topics.
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MARKETS & TRENDS
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by Daniela GHETU, 2022-09-29
Verisk Extreme Event Solutions released its 2022 Global Modeled Catastrophe Losses Report detailing key global financial loss metrics based on its latest suite of catastrophe models. Verisk estimates that on an annual average basis, catastrophes around the world are expected to cause about USD 123 billion in insured losses compared to an average of USD 74 billion in actual losses over the past 10 years.
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STATISTICS
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by Daniela GHETU, 2022-09-29
According to the latest information provided by the Czech National Bank (CNB), the insurance market ended 1H2022 with GWP worth EUR 4.094 billion, up by 17.18% y-o-y. The strong upward trend was given by the non-life insurance sector, which non only dominated the portfolio (72.7% of total GWP), but also saw an almost 23% y-o-y increase in premiums.
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by Andrei Victor, 2022-09-29
Latvian insurers' January-June 2022 aggregate GWP (local and EU branches, summed-up) expanded by more than 20% to almost EUR 490 million, while the amount paid claims and indemnities increased by 29% y-o-y to EUR 321.5 million, according to the half-year figures published by The Financial and Capital Market Commission of Latvia (FKTK).
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by Daniela GHETU, 2022-09-29
According to Polish Chamber of Insurance (PIU) data, the local insurance market ended the first half of 2022 with GWP slightly under the 1H2021 level (-0.5% y-o-y). Thus, GWP reached EUR 7.57 billion. The stagnant status of the market was determined entirely by the life insurance segment which saw a 8.3% decrease in GWP.
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by Marina MAGNAVAL, 2022-09-29
According to 1H2022 results, the insurance market of Uzbekistan grew by 63% y-o-y in local currency, to UZS 2,771.06 billion (EUR 242.78 million), according to data published by the Insurance Market Development Agency under the Ministry of Finance.
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EVENTS
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CURRENT XPRIMM REPORTS
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