TOP NEWS
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by Daniela GHETU, 2024-02-29
Allianz Group’s total business volume rose by 5.5% to EUR 161.7 billion in 2023, while the operating profit increased by 6.7% to EUR 14.7 billion. For 2024, the group targets an operating profit of about EUR 14.8 billion.
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by Daniela GHETU, 2024-02-29
Munich Re posted a profit of EUR 4.59 billion for the 2023 financial year – slightly higher even than the revised profit target of EUR 4.5 billion announced in October 2023, up from the initial figure of EUR 4.0 billion. Insurance revenue from insurance contracts issued rose y-o-y to EUR 57.88 billion.
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by Daniela GHETU, 2024-02-29
Consolidated insurance revenues of Croatia osiguranje, including regional branches, amounted to EUR 476 million in 2023, which is 11% more y-o-y. The company, part of the Adris Group, achieved a consolidated net profit before minority interests in the amount of EUR 58.5 million.
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by Marina MAGNAVAL, 2024-02-26
According to the statistics of the Estonian Traffic Fund (LKF), 3,800 traffic insurance cases were registered in January this year, with an estimated total loss of EUR 8.6 million, which is the largest amount of damage and the most accident-prone month in Estonia in the last few years.
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by Marina MAGNAVAL, 2024-02-26
In 2023, there were just over 1.7 million claims on MTPL and MoD insurance. The most dangerous months turned out to be May and October, while the most dangerous days of the week were Mondays and Fridays - according to data from the Insurance Guarantee Fund (UFG), Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.
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by Marina MAGNAVAL, 2024-02-28
In 2023, ERGO paid out in the Baltic States EUR 216 million. Of these, EUR 59 million were paid to Latvian customers, EUR 102 million in Lithuania, and EUR 54 million in Estonia, the Latvian Insurers Association wrote.
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by Marina MAGNAVAL, 2024-02-26
In February S&P Global Ratings revised its outlook on PASHA Insurance (the market leader) to positive from stable. At the same time, the agency affirmed its 'BB' long-term issuer credit and financial strength ratings on the insurer, the rating agency reported.
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by Marina MAGNAVAL, 2024-02-26
A total of 57,347 Green Card contracts were issued in Azerbaijan last year, under which AZN 10 million (USD 5.88 million) were collected, Trend reports citing the Compulsory Insurance Bureau of Azerbaijan. According to the Bureau, the number of contracts grew by 2.6 times y-o-y, while GWP rose by 3.4 times.
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by Daniela GHETU, 2024-02-29
The Austrian insurance industry may pride itself with positive stats for 2023 totalizing over 50 million contracts, paid indemnities of EUR 17.6 billion, by 5.0% higher y-o-y, and premiums increased to EUR 20.3 billion, the Austrian Insurance Association (VVO) said.
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by Andrei VICTOR, 2024-02-28
The Dutch insurer Aegon announced the completion of the sale of its 56% stake in its joint venture in India, Aegon Life Insurance Company, to Bandhan Financial Holdings Limited, an Indian financial services company.
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STATISTICS
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by Andrei VICTOR, 2024-02-26
At the end 2023, the insurance market Bosnia totaled EUR 503.1 million (BAM 984 million), 11.7% more y-o-y, according to the most recent market figures published by AZOBIH - Insurance Agency of Bosnia and Herzegovina. In terms of claims paid by insurers, the overall amount was up by 7.7% y-o-y to EUR 219.6 million, of which EUR 55.5 million- life indemnities and EUR 164 million payments related to non-life claim files.
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by Andrei VICTOR, 2024-02-26
The GWP of Kosovo insurers increased by over 9% y-o-y to EUR 146.50 million during January-December 2023 while total gross claims paid increased by 11.5% y-o-y to EUR 71.70 million, according to the official monthly figures published on the website of the Central Bank of Kosovo showed.
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by Andrei VICTOR, 2024-02-26
North Macedonia's insurance companies reported aggregate FY2023 business worth MKD 14.3 billion (~EUR 233 million), up by 12.2% y-o-y, according to the preliminary year-end market figures published on the country's Insurance Supervision Agency website. Claims paid by insurers increased by 13.9% to MKD 5.8 billion (~EUR 95 million), of which MKD 5.0 billion - non-life payments and MKD 0.8 billion - life indemnities.
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by Marina MAGNAVAL, 2024-02-28
The insurance sector of Armenia ended 2023 with an increase of 16.26%, reaching AMD 71.01 billion, as evidenced by the data of the Financial Rating of Insurance Companies provided by ArmInfo. It is worth noting that in euros the annual market growth was almost half as much (+9.03%, EUR 158.55 million).
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TOP EVENT
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by Daniela GHETU, 2024-02-29
Doris PÖPPLEIN, Senior Sustainability Analyst, and Dr. Annina ANGSTMANN, Head P&C Solutions NCEE, Director, Swiss Re Solutions, Switzerland will address the Disaster Risk Resilience topic in the ESG context at the upcoming ESG IN INSURANCE Conference, in Vienna, on 16 April.
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by Daniela GHETU, 2024-02-29
FIAR is pleased to announce that its 25th Edition will take place in Bucharest, Romania, between 26-28 May. Online registration is already opened on the event’s website at an EARLY BIRD discounted rate.
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by Daniela GHETU, 2024-02-29
Tobias SONNDORFER, Vice-Chairman of the Board of Directors, VIG Re, will give the Keynote Speech on the changing landscape for CEE (re)insurers at AM Best's CEE Insurance Market Briefing – Vienna, on 17 April.
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ON THE MOVE
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by Daniela GHETU, 2024-02-29
David Onoprishvili was appointed, by decree of the Georgian Government, for a new mandate of 5 years at the top of the Georgian State Insurance Supervision Service, starting February 12, 2024.
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by Andrei VICTOR, 2024-02-28
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has announced Claire Schrader as General Counsel, responsible for managing legal risk at Lloyd’s, a role she has been performing on an interim basis since August 2023. She remains a member of Lloyd’s Executive Committee.
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MARKETS & TRENDS
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by Daniela GHETU, 2024-02-29
Climate change will have a larger impact on economic losses in the future, according to Swiss Re Institute. A new analysis of 36 countries ranks the Philippines and the US as the most economically exposed countries today, where hazard intensification is likely to occur due to climate change.
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EVENTS
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IIF2024 ESG in Insurance Conference
16 April 2024
Vienna Marriott Hotel, Vienna, Austria
Details:
xprimmevents.com
AM Best's CEE Insurance Market Briefing - Vienna
"Navigating geopolitical and emerging risks"
17 April 2024
Vienna Marriott Hotel, Vienna, Austria
Program
Register
20th Anniversary GRAWE Carat Asigurari
23 April 2024
Palace of the Republic, Chisinau, Republic of Moldova
25th International Insurance Reinsurance Forum - FIAR
26-28 May 2024
Hotel Sheraton, Bucharest, Romania
fiar.ro
International Conference on Insurance Claims
29 May 2024
Sheraton Hotel, bucharest
Details:
xprimmevents.com
International Insurance Conference of Azerbaijan
20-21 June 2024
Baku, Azerbaijan
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CURRENT XPRIMM REPORTS
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