TOP NEWS
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by Daniela GHETU, 2023-01-12
The International Association of Insurance Supervisors (IAIS) published its 2023-2024 Roadmap. The Roadmap outlines the IAIS' work program for the next two years and is guided by the 2020-2024 Strategic Plan.
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by Daniela GHETU, 2023-01-12
Insurance Europe has sent a letter and a position paper to the European Commission to explain why an outright EU-wide ban on inducements would limit consumer's access to financial advice, and so undermine the goals of the Retail Investment Strategy (RIS), the insurers' federation informed.
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by Daniela GHETU, 2023-01-12
The insurance sector supports convergence and the re-use of existing standards for cyber incident reporting, including with ongoing initiatives, Insurance Europe said in its response to a consultation conducted by the Financial Stability Board on cyber incident reporting.
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by Andrei Victor, 2023-01-09
International Finance Corporation (IFC), a member of the World Bank Group, takes a stake of around 10% in Doverie, the pension fund in Bulgaria in which the Vienna Insurance Group (VIG) holds a majority stake. The cooperation aims to strengthen and jointly further expand the Bulgarian pension insurance market.
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by Andrei Victor, 2023-01-11
Generali CEE Holding announced in a statement that the international rating agency AM Best has confirmed Generali Ceska pojistovna's financial strength rating of 'A' and long-term credit rating of 'A+'. "In addition, both ratings were confirmed with a stable outlook. As in previous years, the rating is a confirmation of the strength and stability of the largest Czech insurance company".
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by Andrei Victor, 2023-01-09
On 2nd January 2023, NN Group announced that it has completed the legal mergers of the former MetLife businesses in Poland and Greece.
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by Marina MAGNAVAL, 2023-01-09
The largest increase in the amount, as well as the number of claims paid, falls on private health insurance, the segment that records the largest growth in sales for three years in a row. Insurers paid EUR 4.5 million for 30,000 damage claims related to medical expenses, the ISA (Insurance Supervision Agency) said.
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by Marina MAGNAVAL, 2023-01-11
According to Rankomat, the insurance market ended 2022 with the largest reduction in the average MTPL premium in five years. Car owners paid an average of 16% less for compulsory insurance than a year ago, Gazeta Ubezpieczeniowa reports.
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by Andrei Victor, 2023-01-11
In 2023, the Slovenian Sava Insurance Group plans to generate more than EUR 800 million in operating revenue (gross premiums written plus other operating revenue), representing a 4% growth compared to 2022, with growth planned across all markets where the Group is present.
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by Andrei Victor, 2023-01-09
January 1 renewals are proving to be one of the most challenging reinsurance markets the sector has experienced, as reinsurers and cedents work to establish a new market equilibrium, according to global reinsurance broker Guy Carpenter, a business of Marsh McLennan.
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by Andrei Victor, 2023-01-09
Euroins Insurance Group (EIG), part of Eurohold Bulgaria, announced it has signed an agreement to sell its subsidiary in Belarus and the group's stake in a company in Russia. The new owner of the two insurers is a Russian company.
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by Marina MAGNAVAL, 2023-01-09
The amount of payments that the Compulsory Insurance Bureau of Azerbaijan made from January through November 2022 under the Green Card system reached about AZN 531,000 (~USD 312,350) for road traffic accidents that occurred abroad, Trend reports according to the Bureau.
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by Marina MAGNAVAL, 2023-01-09
Inflation puts pressure on loss ratios, and insurance companies invest in securities that no longer show the required return, said Nurzhan Dzhantureev, Deputy Chairman of the Board of EURASIA, Allinsurance.kz wrote with reference to capital.kz.
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by Marina MAGNAVAL, 2023-01-09
On December 29, 2022 the Ministry of Economy and Commerce was the first to start insuring company cars under mandatory third party liability insurance (MTPL), with the insurance company AYu Garant, the State Service of Regulation and Supervision of the Financial Market at the Government of the Kyrgyz Republic reports.
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by Marina MAGNAVAL, 2023-01-09
According to preliminary data from Moldovan insurance companies, in 2022 total GWP under agricultural risk insurance contracts exceeded MDL 80 million (over USD 4 million), east-fruit.com reports.
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by Marina MAGNAVAL, 2023-01-09
Despite some decrease in GWP, the leading insurance companies ended 2022 with dignity in the war conditions, according to the report of the National Bank of Ukraine (NBU). At the same time, 2023 will also be a difficult year, and insurers should prepare for new challenges already now, Forinsurer writes.
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by Marina MAGNAVAL, 2023-01-09
On December 22, 2022, the League of Insurance Organizations of Ukraine (LIOU) and the Insurance Business Association (ASB) signed a memorandum on creation of an association that will include 50 participating insurance companies, Forinsurer reports.
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INTERVIEW
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by Daniela GHETU, 2023-01-12
The task of managing the largest insurance group in Central and Eastern Europe is a particularly exciting challenge, especially a listed company, where the capital market and its immediate reactions have to be taken into account in all the considerations, statements and actions. [...] It is our goal to be among the top 3 in the CEE markets by the end of 2025. In addition to Austria, we are now the market leader in our immediate neighbors Slovakia, Czechia and Hungary.
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STATISTICS
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by Andrei Victor, 2023-01-12
According to the Q3 2022 market data published by the Financial and Capital Market Commission (FKTK), Latvian insurers' aggregate net profits decreased by EUR 7 million (or by 28.2% y-o-y) to EUR 17.87 million (vs. EUR 24.90 million at the end of September 2021).
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by Andrei Victor, 2023-01-12
Macedonian insurers reported aggregate nine-months 2022 aggregate GWP worth MKD 9.59 billion (EUR 156 million), 8.67% more y-o-y, according to the preliminary market figures provided by the Insurance Supervision Agency of North Macedonia.
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ON THE MOVE
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by Andrei Victor, 2023-01-11
Polish insurer PZU - Powszechny Zaklad Ubezpieczen Spolka Akcyjna announced that on 16 December 2022 the PZU Supervisory Board adopted a resolution to appoint Beata Kozlowska-Chyla to the PZU Management Board for the new term of office and entrusted her with discharging the function of CEO of PZU .
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by Andrei Victor, 2023-01-09
Marsh, the world's leading insurance broker and risk advisor, announced new leadership appointments within Marsh Captive Solutions.
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by Andrei Victor, 2023-01-09
Global re/insurance broker WTW (Willis Towers Watson) announced that Evan Freely has joined WTW as its new Global Head of Financial Solutions, reporting to Alastair Swift, Head of Global Lines of Business, Risk & Broking, WTW.
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by Andrei Victor, 2023-01-11
American International Group announced that Don Bailey has joined the company as Global Head of Distribution and Field Operations, effective immediately. Don Bailey reports to Peter Zaffino, Chairman & Chief Executive Officer.
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EVENTS
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CURRENT XPRIMM REPORTS
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