TOP NEWS
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by Daniela GHETU, 2024-05-23
Almost half of food and drink companies (48%) said that business interruption was the biggest internal risk to their success, closely followed by supply chain risk (40%), WTW’s 2024 Global Food and Beverage Risk Outlook, published today, found out.
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by Andrei VICTOR, 2024-05-21
The German Talanx Group informed it lifted its Q1 insurance revenue by 9% y-o-y to EUR 11.7 billion (vs. 10.7 billion) and its Group net income by a clear double-digit 35% to EUR 572 million.
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by Andrei VICTOR, 2024-05-21
German reinsurer Hannover Re informed it increased Group net income by 15% in Q1 2024 to EUR 558 million and confirms its guidance for FY 2024.
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by Daniela GHETU, 2024-05-22
Digital financial services are inherently borderless, which raises the question of when a notification obligation is required on “cross-border provision of services” and, if so, how to classify these services - under FOE or FOS, Ante Žigman, President of the Croatian market authority, Hanfa said.
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by Daniela GHETU, 2024-05-22
Ivana Jur?íková, VIG Re’s Chief Financial Officer, has been added to Hall of Fame of “the most influential women in the Czech financial sector” by #FinŽeny Project (Czech for Women in Finance), the reinsurance company announced.
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by Marina MAGNAVAL, 2024-05-21
Over PLN 4.9 billion (~EUR 1.14 billion) was paid out by motor insurers in the first three months of this year under motor insurance policies.
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by Daniela GHETU, 2024-05-22
In collaboration with OMNIASIG Vienna Insurance Group, Banca Comercial? Român? is expanding the George digital ecosystem with the introduction of George Smart Protect, the first insurance product tailored for micro-enterprises and sole proprietorships (PFA).
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by Marina MAGNAVAL, 2024-05-21
The MTPL market in Kazakhstan in January-March 2024 amounted to KZT 24.9 billion (~EUR 51.68 million), which is 12.6% less y-o-y. Also, the leader in this segment has changed, Allinsurance.kz writes.
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by Marina MAGNAVAL, 2024-05-21
About 9 years have passed since the adoption of the law on compulsory home insurance in Kyrgyzstan (adopted in 2015), but only a small part of citizens has insured their property.
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by Marina MAGNAVAL, 2024-05-21
The National Bank of Moldova (NBM) has become a member of the International Association of Insurance Supervisors (IAIS), which includes the International Monetary Fund, the World Bank, the European Commission, the Organization for Economic Cooperation and Development, as well as insurance supervisory authorities, bizlaw.md writes.
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by Media XPRIMM, 2024-05-22
After a year in which nearly a fifth of companies reported having to restate earnings due to geopolitical events, companies saw another difficult year in 2024, with 69 percent reporting supply chain disruptions relating to geopolitics, according to How are leading companies managing today’s political risks? a new report by WTW, the global advisory, broking, and solutions company.
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STATISTICS
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by Daniela GHETU, 2024-05-22
Gross written premiums amounted to EUR 49.11 billion at regional level, up by 11.8% y-o-y. At the same time, claims paid seem to have remained at a comparatively constant level compared to 2022. According to available data, the paid claims at CEE level, Bulgaria and Serbia excluded as data for the full year are not available, increased by about 4.5%, while the total GWP may amount to about EUR 26.5 billion (including values estimated for Bulgaria and Serbia, based on Q3 results).
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by Marina MAGNAVAL, 2024-05-21
At the end of 1Q2024, the insurance market of Azerbaijan grew by 7.56%, reaching AZN 373.14 million (EUR 203.68 million). However, paid claims rose by almost 50%, amounting to AZN 153.33 million (EUR 83.69 million), as statistics published by the National Bank show.
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by Marina MAGNAVAL, 2024-05-21
At the end of 1Q2024, the insurance sector of Belarus amounted to BYN 633.59 million (EUR 180.93 million), which is 17% more y-o-y, as shown by data published by the Ministry of Finance of the Republic of Belarus.
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by Marina MAGNAVAL, 2024-05-21
In 1Q2024, the insurance sector of Kazakhstan grew by 27.56%, reaching KZT 366.55 billion (EUR 760.79 million). Paid claims of insurers increased by 31% to KZT 67.26 billion (EUR 139.61 million), as data published by the National Bank show.
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INTERVIEW
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by Daniela GHETU, 2024-05-21
While new technologies and process automatization will have a significant impact on the way how we will transact our business - maintaining our competitive edge on our cost ratio – I truly believe that people will still make the ultimate difference in our industry, in order to understanding the needs of our clients, building a trustful, long-lasting partnership.
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MARKETS & TRENDS
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by Daniela GHETU, 2024-05-23
The health and pharma sector is set to be hardest hit by the adverse effects of AI over the next decade, according Swiss Re Institute. 'Mobility and transport' and 'energy and utilities' are the other Top 3 industries most at risk of the adverse effects of AI technology over the next decade.
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ON THE MOVE
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by Andrei VICTOR, 2024-05-21
Swiss Re announced that Ivan Gonzalez, CEO Reinsurance China, has been appointed CEO Corporate Solutions, succeeding Andreas Berger as of 1 July 2024. He will join the Group Executive Committee at the same time.
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by Andrei VICTOR, 2024-05-21
Aegon announces the appointment of Duncan Russell as Chief Financial Officer (CFO), effective September 1, 2024. He will succeed Matt Rider, who will retire after over seven years of service to the company.
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by Andrei VICTOR, 2024-05-21
Marsh McLennan (MMC) announced that during its 2024 AGM stockholders elected the entire slate of 2024 director nominees for a one-year term expiring at next year’s annual meeting.
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EVENTS
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CURRENT XPRIMM REPORTS
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