TOP NEWS
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by Andrei Victor, 2022-12-12
At the end of the year, Bosnian insurers ASA Osiguranje and Central osiguranje will be officially merged, local media informed. The merger will create the largest insurer in the country with more than 11% market share.
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by Daniela GHETU, 2022-12-14
The leading property and casualty ("P&C") insurance company in Georgia, Aldagi further expands its business towards underwriting inwards reinsurance in the region. By doing this, Aldagi sets a precedent for the Georgian industry, being the first insurance company in the market that will also function as a reinsurer.
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by Daniela GHETU, 2022-12-13
Insurers consider there is no need to develop an extensive recovery and resolution framework for insurers, Insurance Europe said in a statement. Yet, as such a framework is likely to be adopted, insurers have drawn a set of key messages summing up their view on the topic.
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by Daniela GHETU, 2022-12-15
The International Association of Insurance Supervisors (IAIS) issued two publications showcasing work on digital innovation, focusing on FinTech and the role of supervisory technology.
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by Daniela GHETU, 2022-12-15
Chubb, the global P&C insurance company, announced it will launch a new technology services center in Thessaloniki, Greece in early 2023 to deliver innovative technologies that enhance the customer experience, increase efficiency and accelerate the company's digital transformation.
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by Daniela GHETU, 2022-12-15
In Q3 2022, Austrian insurance undertakings observed an y-o-y increase in premium volume by 4.69% to EUR 4.80 billion, the Austrian Financial Market Agency (FMA) said quoting data from it's Report on the Austrian Insurance Sector for Q3 2022.
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by Daniela GHETU, 2022-12-15
Based on its ongoing good operating performance, Munich Re aims for a consolidated profit of around EUR 4.0 billion for the 2023 financial year under the new reporting standard IFRS 17, most of most of it coming from the reinsurance activity, the reinsurer announced.
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by Andrei Victor, 2022-12-12
The Talanx Group announced is significantly raising its sights for the next three years with its new Strategy 25: "the goal is for the Group's return on equity to permanently exceed 10%".
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by Daniela GHETU, 2022-12-15
Milliman Inc., a global consulting and actuarial firm, announced the release of Milliman Agile ALM. This innovative software package makes asset/liability management (ALM) and stochastic valuation accessible to more insurers, helping them comply with Solvency II, IFRS 17, and other requirements.
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by Andrei Victor, 2022-12-12
Dutch insurance group Aegon announced it has sold its exposure as an investor to Russia. On March 8 of this year, shortly after the Russian invasion of Ukraine, Aegon announced that it had started winding down its already negligible investments in Russia.
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by Marina MAGNAVAL, 2022-12-12
Introduction of the Estonian income tax model for the insurance sector in Georgia has been postponed for one year, as Georgian Economy Minister Levan Davitashvili said, Business Georgia wrote.
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by Marina MAGNAVAL, 2022-12-12
In October 2022, the assets of insurance (reinsurance) companies in Kazakhstan increased to KZT 2 trillion/~EUR 4.3 billion (an increase of 11.5% since the beginning of 2022), mainly as a result of an increase in income from insurance activities, Allinsurance.kz reports with reference to the data of the National Bank.
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by Marina MAGNAVAL, 2022-12-12
In January-October 2022, GWP of the insurers-members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) on MTPL policies decreased by 4.53% to UAH 5.6 billion (~EUR 152.63 million), including premiums on electronic contracts, which amounted to UAH 3.8 billion (+18% ), Forinsurer reports, citing the Bureau.
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by Marina MAGNAVAL, 2022-12-12
According to the State Tax Service, in Kyrgyzstan, from December 2022, for small and medium-sized businesses with an annual revenue of no more than KGS 30 million/~EUR 334 thousand, insurance tariff rates were reduced for a period up to January 1, 2027, knews.kg reports.
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by Marina MAGNAVAL, 2022-12-12
For 9M2022, the business of the Uzbek insurance market leader UZBEKINVEST increased by 186% compared to the period of 2021, exceeding UZS 447.6 billion (EUR 41.94 million). Over 320 thousand insurance policies for UZS 25.5 trillion were sold, gazeta.uz writes with reference to the company's data.
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by Andrei Victor, 2022-12-12
Allianz Capital Partners, on behalf of Allianz insurance companies, has signed an agreement to acquire a minority stake in the Finnish project developer Ren-Gas.
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by Andrei Victor, 2022-12-12
Moreland Murray, Chief Inclusion & Diversity Officer at Marsh McLennan, has been recognized by Savoy magazine as one of 2022's Most Influential Black Executives in Corporate America.
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INTERVIEW
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by Daniela GHETU, 2022-12-15
Insurance brings new hope for cancer patients in Georgia: the Cancer insurance provided by GPI Holding in cooperation with Swiss Re and MediGuide is affordable and provides coverage in case of cancer diagnosis and is a reliable source of financing even for modern treatments abroad a novel and attractive product in the market.
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STATISTICS
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by Andrei Victor, 2022-12-15
The insurance market of Cyprus totaled EUR 765.5 million at the end of September 2022, increasing by more than 9% y-o-y, according to the quarterly data published by The Insurance Association of Cyprus - IAC.
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by Marina MAGNAVAL, 2022-12-15
Insurance companies of Ukraine in January-September 2022 collected UAH 28.57 billion (EUR 803.51 million) of insurance premiums and paid out UAH 9.50 billion (EUR 267.21 million), which is respectively 25% and 29% less y-o-y in local currency, according to data from the National Bank.
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by Marina MAGNAVAL, 2022-12-15
According to the 3Q2022 results, the Georgian insurance market grew by 16.11% y-o-y, reaching GEL 704.48 million (EUR 256.34 million), according to the Georgian Insurance Supervision Service.
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by Marina MAGNAVAL, 2022-12-15
At the end of 3Q2022, the market saw a slight decrease, amounting to RUB 1,327.93 billion (EUR 23.96 billion). It is worth noting the rapid growth in the European currency due to the positive dynamics of the ruble exchange rate against the euro (from ~84 rubles / euro in 2021 to ~50 rubles / euro at the end of September 2022), according to the market data published by the Central Bank.
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ON THE MOVE
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by Andrei Victor, 2022-12-12
Global reinsurer Swiss Re proposes to elect Vanessa Lau and Pia Tischhauser as new Board members at the 2023 AGM, on 12 April. Current Board members Renato Fassbind and Susan L. Wagner will not stand for re-election, the reinsurer informed.
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by Daniela GHETU, 2022-12-15
Munich Re has established an additional Board division- Global Specialty Insurance (GSI) division that will be headed by Michael Kerner (57 years), newly appointed to the Board of Management, with effect from 1 January 2023, the reinsurer announced.
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by Andrei Victor, 2022-12-12
Allianz Global Corporate & Specialty's (AGCS) announced Martin Zschech, current Regional Head of Distribution - CEE region, will be appointed Global Head of Industry Solutions & Client Management effective January 1, 2023.
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by Andrei Victor, 2022-12-12
Slovenian Zavarovalnica Triglav announced on the Ljubljana Stock Exchange website the resignation of Supervisory Board (SB) members Branko Bracko and Peter Kavcic, after receiving their resignation notifications on 9 December.
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by Andrei Victor, 2022-12-12
Kees van Kalveen, CFO at Nationale-Nederlanden Bank (NN Bank) will leave the company on 1 January 2023 to pursue his career outside Nationale-Nederlanden. The Dutch bank announed it has already started the process to find a successor.
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CURRENT XPRIMM REPORTS
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