TOP NEWS
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by Daniela GHETU, 2024-03-21
In 2023, VIG Re – the reinsurance arm of the Vienna Insurance Group -, reported GWP growth by 13.7%, to EUR 900.7 million, driven by significant growth of the non-life treaty business across all segments. Under the new IFRS 17/9 accounting standards, insurance service revenue for the year was EUR 819.4 million.
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by Andrei VICTOR, 2024-03-19
According to the 2024 Political Risk Report recently released by the global insurance broker Marsh, despite continued volatility and uncertainty, there are substantial global growth opportunities that organizations may benefit from, if these risks are managed effectively.
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by Marina MAGNAVAL, 2024-03-19
Total GWP of insurance companies operating in the Federation of Bosnia and Herzegovina increased 14.8% y-o-y reaching BAM 118.2 million (EUR 60.4 million) in January-February 2024, SeeNews reports referring to official data.
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by Marina MAGNAVAL, 2024-03-19
Estonia's largest property insurers have adopted the Swedish company CAB Group's MEPS software, which is used to calculate real estate renovations, for example, for home insurance customers.
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by Marina MAGNAVAL, 2024-03-19
On November 21 and 22, 2024 the International Insurance Fraud Conference will take place in Rikli Balance Hotel Bled, Slovenia, the Slovenian Insurance Association announced.
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by Andrei VICTOR, 2024-03-19
Premiums written by Austrian insurers during FY2023 stood at EUR 21.95 billion, an increase of 5.43% or EUR 1.13 billion compared with the preceding year. During the 4th quarter of 2023 alone, there was an increase in premium volume of +7.51% y-o-y to EUR 4.99 billion compared with Q4 2022, according to a press released by the Austrian Financial Market Authority (FMA)
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by Marina MAGNAVAL, 2024-03-19
As of February 1, 2024, the assets of insurance (reinsurance) organizations in Kazakhstan increased by 4.4% to KZT 2.6 trillion (~EUR 5.33 billion) mainly because of increased income from insurance activities. In the structure of assets, the largest share is occupied by securities – 67.8% (KZT 1.8 trillion), reports the Agency for Regulation and Development of Financial Market.
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by Marina MAGNAVAL, 2024-03-19
Last year, about 15% of MTPL claims based on settlement agreements were filed incorrectly. It is noted that during the first 8 months of 2023, 5,302 such applications were submitted, bizlaw.md writes.
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by Marina MAGNAVAL, 2024-03-21
The Law “On Health Insurance” was adopted in Tajikistan 15 years ago in 2008, but its implementation has been delayed for the 5th time, ASIA-Plus reports.
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by Marina MAGNAVAL, 2024-03-19
In 2023, INGO, which is among the top 10 insurers based on the 3Q results, paid out over UAH 1.172 billion (~EUR 27.82 million) to its clients, which is 74% more y-o-y. At the same time, the company's GWP increased by 50%, Forinsurer writes with reference to the insurer's annual report.
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STATISTICS
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by Andrei VICTOR, 2024-03-19
At the end of December 2023, Latvian insurers' aggregate GWP (local and EU branches, summed-up) totaled EUR 1.11 billion, up by 12.02% y-o-y, while the amount paid in claims and indemnities increased by 10.64% y-o-y to EUR 710.93 million, according to the quarterly figures published by the Central Bank (Latvijas Banka).
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by Andrei VICTOR, 2024-03-19
During last year, the Lithuanian insurance market grew by 17.22% y-o-y (or by EUR 212 million) to EUR 1.45 billion, while the value of payments expanded by 20.70% y-o-y to EUR 632.47 million, according to the market figures published by the Bank of Lithuania – Lietuvos Bankas.
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ON THE MOVE
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by Daniela GHETU, 2024-03-21
At today's meeting of the Supervisory Board of Vienna Insurance Group (VIG),
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by Andrei VICTOR, 2024-03-19
Swiss Re will propose the election of a new Chair of the Board of Directors at the 2024 AGM. This year's AGM will be held on 12 April 2024 in Zurich.
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by Andrei VICTOR, 2024-03-19
Munich Re HealthTech announced the promotion of Bilal Ramadan to Chief Executive Officer. Bilal Ramadan started in his new role on March 1, 2024 and reports to Owais Ansari Head of Munich Re Life & Health, MENA, Pakistan & Takaful Business.
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INTERVIEW
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by Daniela GHETU, 2024-03-21
For those extreme events that happen at the very edges of what we think is possible, broader cooperation and planning is key. The industry also has the expertise to incubate ideas to mitigate risk, as well as strategies that help curb the growth in potential losses. This will ultimately allow the industry to take more of the risk in the future and better protect its clients.
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TOP EVENT
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by XPRIMM Teams, 2024-03-21
“The global reinsurance industry has struggled to source, develop, and trade in ESG transactions. From concerns about being too far from the risk to influence the behavior of insureds to questions about the cost of green transactions, the result has been an industry commitment to ESG that has largely fallen flat”, explains Tom Johansmeyer, Global Head of Index Classes, Inver Re.
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by XPRIMM Teams, 2024-03-21
Less than 4 weeks to go! Register now and join market participants from across the Central and Eastern Europe (CEE) insurance markets at AM Best's CEE Insurance Market Briefing - Vienna on Wednesday, 17th April 2024.
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by XPRIMM Teams, 2024-03-21
With a new team at the helm at the market authority, several upgrades of the regulatory framework under way and market players’ strong willingness to improve the market environment, the Romanian insurance field is a business area worth exploring.
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by XPRIMM Teams, 2024-03-21
The Azerbaijan Insurers Association together with XPRIMM are pleased to announce a new edition of the most important event in the Caucasus Region, the Azerbaijan International Insurance Forum, to be held in Baku, on 20-21 June.
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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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