TOP NEWS
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by Daniela GHETU, 2023-03-23
President of the Board of the Croatian Financial Services Supervisory Agency (Hanfa) Ante ZIGMAN has been elected Chair of the Risks and Financial Stability Steering Committee of the European Insurance and Occupational Pensions Authority (EIOPA).
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by Andrei Victor, 2023-03-23
In 2022, VIG Re's profit before taxes increased by 14.6% y-o-y to EUR 30.7 million, while the GWP was up by 19.7% y-o-y to EUR 792.3 million. Net combined ratio improved by 4.2 ppt to 91.9%, underwriting profit almost doubled to EUR 38.5 million (+ 90.4%), total assets amounted to EUR 1.47 billion (+ 0.4%), while Return on equity was 17.9%.
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by Andrei Victor, 2023-03-23
Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions, informed that according to preliminary results, its FY2022 GWP increased by over 19% to more than GBP 46 billion (FY 2021: GBP 39.2 billion) "reflecting a combination of growth from the strong USD (8%) direct price increases (8%) and organic growth (3%)".
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by Andrei Victor, 2023-03-23
Allianz Group announced that it will serve the global commercial insurance segment as one go-to-market business under the trading name Allianz Commercial, featuring an integrated approach encompassing its Allianz Global Corporate & Specialty (AGCS) business serving large corporate clients and the insurance businesses of Allianz's operating entities serving mid-sized country-based accounts.
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by Andrei Victor, 2023-03-23
Global reinsurer Swiss Re proposes dividend of USD 6.40 per share for the financial year 2022, according to the published agenda for the upcoming Annual General Meeting of shareholders (AGM) on 12 April 2023. At the AGM, Swiss Re is also proposing to elect Vanessa Lau and Pia Tischhauser as new Board members for a one-year term, and the re-election of Sergio Ermotti as Chairman and a member of the Board of Directors for a one-year term of office until completion of the next AGM.
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by Marina MAGNAVAL, 2023-03-23
A new chairman has been elected to the Supervisory Board of the Azerbaijan Insurers Association (ASA), Ulviya Jabbarova, chairman of the board of directors of PASA Sigorta, ABC.AZ reports.
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by Marina MAGNAVAL, 2023-03-23
At the end of 2022, total assets of the insurance sector of Azerbaijan amounted to AZN 1.594 billion (~EUR 0.88 billion), ABC.AZ wrote with reference to the report on the activities of the Cabinet of Ministers for 2022. According to the report, this is 20.3% more than at the end of 2021.
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by Marina MAGNAVAL, 2023-03-23
Right before liberalization of MTPL tariffs in Armenia, growth of sales of electronic policies and paper counterparts is slowing down, GWP growth is weakening, but at the same time, a decrease in the number of terminated contracts is observed.
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by Marina MAGNAVAL, 2023-03-23
In the 4Q2022, the number of concluded MTPL contracts amounted to almost 2 million units, which is 13% less than in the same period in 2021. GWP on them reached UAH 2 billion, (~EUR 50.95 million) which is 6.2% more y-o-y, according to a press release from MTIBU (Motor Transport Bureau of Ukraine)
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by Marina MAGNAVAL, 2023-03-23
The draft law "On Ratification of the Agreement on creation of the Eurasian Reinsurance Company" is being prepared for consideration in the House of Representatives in March.
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ON THE MOVE
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by Andrei Victor, 2023-03-23
Lloyd's of London announced a week ago a number of changes to its Executive Committee. Thus, Bob James has taken over COO responsibilities from CFO Burkhard Keese, effective 14 March 2023, while Deputy CFO Alex Cliff will join Lloyd's Executive Committee with immediate effect.
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by Andrei Victor, 2023-03-23
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group announced two new members to its Board of Management and also changes in the responsibilities of individual current Board Members.
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by Daniela GHETU, 2023-03-23
On 21 March 2023, David Benedek was granted a license by the Insurance Supervision Agency to become a member of the management board of Sava Re. Appointed as a member of Sava Re's management board on 15 December 2022, David Benedek began his 5-year term of office on 22 March 2023.
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by Andrei Victor, 2023-03-23
American International Group announced that William Jurgensen has decided to retire from the AIG Board of Directors and will not stand for re-election at the company's 2023 Annual Meeting in May.
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by Andrei Victor, 2023-03-23
German insurer ERGO announced that the Supervisory Board of ERGO Group AG has appointed Robin Johnson as Member of the Board of Management responsible for Information Technology and Chief Technology Officer of the ERGO Group with effect from March 17, 2023.
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by Andrei Victor, 2023-03-23
Allianz Global Corporate & Specialty (AGCS) announced that Gordon Browne has been appointed Global Head of Specialty, reporting to Chief Underwriting Officer Shanil Williams who oversees all of AGCS' nine lines of business in the AGCS SE Board of Management.
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by Andrei Victor, 2023-03-23
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group announced that Tracy Ryan will join AGCS Board of Management as Chief Regions and Markets Officer for North America. She succeeds William Scaldaferri who has decided to leave Allianz after 23 years, 11 of which were as a Member of the AGCS SE Board of Management.
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TOP EVENT
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by Daniela GHETU, 2023-03-23
In less than two weeks, on 4 April, Hotel Bristol in Vienna will host the first edition of the ESG IN INSURANCE Conference. Organized in partnership with Vienna Insurance Group and with the support of IUC Group, the event will provide an encompassing review of the impact that incorporating ESG goals may have on insurers' business.
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by Daniela GHETU, 2023-03-23
One week before its debut, the 10th edition of the MOTOR Insurance Conference aligns an exceptional team of international speakers. IIF 2023 – MOTOR Insurance Conference - “Reshaping motor insurance business” will take place in Vienna, at the Bristol Hotel, on 5 April.
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INTERVIEW
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by Daniela GHETU, 2023-03-23
The important innovations proposed by the new insurance law adopted in 2022 include introduction of new, socially significant life insurance products, further digitalization of the insurance industry, development of a system for guaranteeing insurance payments and improving the mechanism for protecting rights of consumers of insurance services and expanding the powers of the insurance ombudsman.
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STATISTICS
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by Andrei Victor, 2023-03-23
At the end of last year, the insurance market Bosnia totaled EUR 450.5 million (BAM 881 million), 7.7% more y-o-y, according to the Q4 2022 market figures published by AZOBIH - Insurance Agency of Bosnia and Herzegovina.
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by Andrei Victor, 2023-03-23
At the end of 2022, Latvian insurers' aggregate GWP (local and EU branches, summed-up) totaled EUR 994.7 million, up by 17.1% y-o-y, while the amount paid in claims and indemnities increased by EUR 100 million to EUR 641.5 million, according to the year-end figures published by the local Central bank - Latvijas Banka.
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by Andrei Victor, 2023-03-23
The Turkish insurance sector grew by 123.2% to TRY 235 billion (EUR 11.8 billion) in 2022, according to data from the Insurance Association of Turkiye (TSB). In European currency, due to the exchange rates differences, the market change was only +69% y-o-y.
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EVENTS
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CURRENT XPRIMM REPORTS
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