TOP NEWS
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by Daniela GHETU, 2023-11-01
On November 1, 2023, in accordance with the Law on Compulsory Traffic Insurance, a gradual and phased deregulation of the MTPL insurance sector in the Federation of Bosnia and Herzegovina (FBiH) will come into effect, insurance companies gaining the right to apply their own MTPL tariffs with prior approval from the market authority, the Insurance Supervision Agency of the FBiH (NADOS) announced.
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by Daniela GHETU, 2023-11-01
The Albanian government's draft law on ”Mandatory insurance of housing against earthquakes” continues to be the subject of discussions in the local market, the Association of Insurers of Albania raising several objections to the draft law’s provisions.
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by Daniela GHETU, 2023-11-01
Consolidated income from insurance sales of Croatia Osiguranje Group of companies amounted to EUR 348 million, 11% more y-o-y. The consolidated net profit for the same period was EUR 31.2 million, the Group said. Yet, adjusting 9M2022 results according IFRS 17, for comparability, 9M2023 net profit fell by 27% y-o-y.
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by Marina MAGNAVAL, 2023-10-30
Balcia insurance became a new member of the Association of Estonian Insurance Companies (EKsL). All 18 insurance companies operating in Estonia are members of EKsL, Association of Estonian Insurance Companies (EKsL) informed.
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by Marina MAGNAVAL, 2023-10-30
Montenegrin insurer Lovcen Osiguranje, which is among the biggest insurers in SEE and is part of the Slovenia-based Triglav Group, reported a net profit of EUR 3.3 million in the first nine months of 2023, up 73% y-o-y, SeeNews reports.
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by Daniela GHETU, 2023-11-01
Top 100 insurers in the Southeastern Europe wrote together gross premiums worth EUR 10.63 billion in 2022 and recorded an aggregated net profit figure of EUR 634.4 million, lower by about EUR 10 million y-o-y. Top 10 insurers in this ranking accounted for about 44% of the total GWP and half of the total net profit.
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by Andrei VICTOR, 2023-10-30
Following the decision of Romanian ASF from 17 March to withdraw the license of Euroins Romania, the Bulgarian energy-financial holding Eurohold – the owner of Euroins Insurance Group mentioned in a statement that it officially informed the Government of Romania of their intention to initiate an international arbitration to “protect the group’s investment in Romania, unless the current dispute over Euroins Romania’s case is remedied quickly, and the damages caused to the group are duly compensated”.
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by Daniela GHETU, 2023-11-01
A total of 403 damages were reported, with total compensations amounting to EUR 48.78 million after the wildfires that affected Greece this summer, the Union of Insurance Companies of Greece (EAEE) said.
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by Marina MAGNAVAL, 2023-10-30
The Agricultural Insurance Fund of Azerbaijan, which insures farmland and farms, has begun paying damages to farmers in connection with events and registered losses during 2023, Trend reports.
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by Marina MAGNAVAL, 2023-10-30
The total assets of Moldovan insurance companies in 1H2023 increased to MDL 4.6 billion (EUR 0.23 billion). The growth rate was 8.9% (or by MDL 377.2 million), bizlaw.md writes.
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by Marina MAGNAVAL, 2023-10-30
ARX, one of the top non-life insurers in Ukraine, collected almost UAH 2.8 billion (EUR 71.46 million) for 9 months of 2023, which is 41% more y-o-y. The company's paid claims exceeded UAH 988 million (+27%), and the number of contracts increased by 102%, Forinsurer reports.
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by Andrei VICTOR, 2023-10-30
Global re/insurance broker Aon reported Q3 2023 total revenue worth USD 2.95 billion, up by 10% y-o-y, while total operating expenses increased from USD 2.10 billion to USD 2.26 billion.
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by Andrei VICTOR, 2023-10-30
MARSH McLENNAN (MMC) reported Q3 2023 revenue of USD 5.4 billion, an increase of 13% compared with the third quarter of 2022. Operating income was USD 996 million, an increase of 26% from a year ago. Net income attributable to the Company was USD 730 million, or USD 1.47 per diluted share, compared with USD 1.08 in Q3 2022.
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INTERVIEW
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by Daniela GHETU, 2023-11-01
The strategy of our company is not only about writing premiums, but also maintaining the company's profitability.
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STATISTICS
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by Andrei VICTOR, 2023-11-01
At the end of September 2023, the insurance market of Montenegro totaled EUR 90.98 million, 9.90% more y-o-y, while the value of paid claims by insurers totaled EUR 34.68 million, up by 4.76% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.
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by Andrei VICTOR, 2023-11-01
According to the quarter figures published Insurance Association of Turkiye - at the end of September 2023 the local insurance market increased by 123.41% y-o-y reaching TRY 328.2 billion (~EUR 11.3 billion). In European currency, due to the exchange rates differences between September 30th 2023 and September 30th 2022, the market change was +39.6% y-o-y.
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by Marina MAGNAVAL, 2023-11-01
According to the 3Q2023 results, the insurance market of Azerbaijan grew by 28.17% to AZN 937.24 million (EUR 521.12 million). It is worth noting that GWP growth outpaced the growth in paid claims, which increased by 25.67%, amounting to AZN 400.39 million (EUR 222.62 million), as statistics published by the National Bank show.
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by Marina MAGNAVAL, 2023-11-01
At the end of 3Q2023, the insurance sector in Kazakhstan reached KZT 863.74 billion (EUR 1.71 billion), which is 27% more y-o-y. At the same time, paid claims jumped by almost 40%, amounting to KZT 195.28 billion (EUR 387.84 million), as data published by the National Bank show.
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ON THE MOVE
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by Marina MAGNAVAL, 2023-10-30
As of January 1, 2024, Gergely Bacso will take over the position of Allianz Hungaria Zrt. CEO and Chairman of the Board from Alexander V. Protsenko, Portfolio.hu reports with reference to the insurance company's announcement.
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by Andrei VICTOR, 2023-10-30
Allianz Commercial informed it has appointed Elke Vagenende as Commercial Managing Director for ‘Benelux and Nordics’ region.
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EVENTS
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CURRENT XPRIMM REPORTS
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