TOP NEWS
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by Daniela GHETU, 2024-06-13
Taleh KAZIMOV, Governor of the Central Bank of the Republic of Azerbaijan, will give a Keynote Speech at IIF 2024 – Azerbaijan International Insurance Forum, event organized by the Azerbaijan Insurers Association and XPRIMM, with the official support of the Central Bank of the Republic of Azerbaijan.
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by Andrei VICTOR, 2024-06-10
Vienna Insurance Group (VIG) has initiated a comprehensive programme to increase protection against growing cyber threats. The Group companies will be serviced by three competence centres in Austria, Poland and the Czech Republic. The initiative is financially supported by the European Union through the European Cybersecurity Competence Centre.
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by Andrei VICTOR, 2024-06-10
Slovene re/insurance group Triglav informed that at its General Meeting of Shareholders, the shareholders supported the Management Board's and the Supervisory Board's proposal to pay EUR 1.75 gross dividend per share - which represents a 5% dividend yield. The dividend will be paid to the shareholders appearing in the Company's share register on Tuesday, 18 June 2024 (the ex-dividend date is Monday, 17 June 2024).
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by Marina MAGNAVAL, 2024-06-11
The assets of Bulgarian insurance companies reached BGN 10.74 billion (EUR 5.49 billion) at the end of March, which indicates a y-o-y rise of 4.5%, SeeNews reports referring to the Central Bank’s statement.
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by Andrei VICTOR, 2024-06-10
Bulgarian financial holding Eurohold Bulgaria AD reported total revenues of BGN 2.89 billion (EUR 1.48 billion) and earnings before interest, taxes, depreciation and amortization (EBITDA) of approx. BGN 207.58 million (EUR 106.13 billion) in 2023, down by 33.5% and 11.9% percent, respectively, compared to the previous year. The company posted a positive 2023 net financial result of BGN 78.63 million.
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by Daniela GHETU, 2024-06-10
On June 3-4, 2024, the Insurance and Private Pensions Regulation and Supervision Agency (SEDDK), the Turkish Insurance Association (TSB), and Maher Holding hosted some of the most prominent figures in Romania's insurance and finance sector, in a visit aiming at extending the regional cooperation in the re/insurance sector.
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by Daniela GHETU, 2024-06-11
"In 1994, the year UNSAR was founded, the Romanian insurance market was about USD 150 million. Thirty years later, it has reached USD 4.5 billion," remarked Alexandru Ciuncan in his opening speech at the International Conference organized by UNSAR, the Romanian insurers’ association, to mark its 30th anniversary.
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by Andrei VICTOR, 2024-06-10
S&P Global Ratings informed on its website that it had affirmed the “A” long-term financial strength and issuer credit ratings on Sava Re with a stable outlook. The ratings are based on the Agency’s updated capital model with revised criteria for analysing insurers’ risk-based capital dated 15 November 2023.
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by Andrei VICTOR, 2024-06-10
Lloyd’s announced the opening of a new office in Miami from 1 September 2024 to strengthen its Latin America and Caribbean business and continue to support the market’s sustainable and profitable growth in the Americas. Latin America and Caribbean is an important and fast-growing area for Lloyd's, accounting for 4.6% of gross written premium (USD 2.7 billion) in 2023.
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by Daniela GHETU, 2024-06-11
220 jurists and insurance professionals from over 30 countries convened in Athens for the 10th AIDA Europe Conference over 30-31 May 2024. Over two days of stimulating sessions they considered in various ways the core question: Is the insurance market ready quickly and effectively to meet the needs of its range of customers: from consumers to multinationals and beyond?
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by Marina MAGNAVAL, 2024-06-11
In 1Q2024 the total asset value of insurance companies increased by EUR 301 million y-o-y and stood at EUR 20,588 million, insurancedaily.gr writes.
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by Daniela GHETU, 2024-06-13
Azerbaijan’s exposure and vulnerability to the earthquake risk, as well as the measures to cope with the financial impact of such events were the topics of the A Resilient Financial System Against Catastrophic Risks Conference, organized on 22-23 May, by the Central Bank of Azerbaijan and the Compulsory Insurance Bureau, with the participation of T-Rupt, a Türk Reasürans group company specializing in insurance and reinsurance technology solutions.
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by Marina MAGNAVAL, 2024-06-11
The introduction of compulsory health and accident insurance for tourists coming to Georgia is planned to be postponed until January 1, 2026. A draft suspending application of this clause of the law until the end of 2025 has been submitted to parliament, Report writes.
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by Marina MAGNAVAL, 2024-06-11
The Service for Regulation and Supervision of the Financial Market of Kyrgyzstan has developed a draft law “On Insurance and Insurance Activities” that meets the requirements of international standards established by the International Association of Insurance Supervision (IAIS). The innovations are aimed at modernizing the country’s insurance market and increasing its efficiency, the financial portal Akchabar reports.
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by Marina MAGNAVAL, 2024-06-11
From January to April 2024, the Ukrainian MTPL market grew by 26.7% to UAH 2.9 billion (~EUR 68.41 million), including premiums collected under e-policies, which increased by 41% to UAH 2.32 billion.
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by Daniela GHETU, 2024-06-11
According to an updated ranking and analysis completed by Insuramore, the value of revenues earned worldwide by MGA, MGU and cover-holder groups (a.k.a. delegated underwriting authority / underwriting agency groups) was around USD 23.9 billion in 2023.
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TOP EVENTS
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by Daniela GHETU, 2024-06-13
COB’s General Assembly, hosted this year by the Motor Insurers’ Bureau (MIB) in the UK, took place on 6-7 June, in Windsor and had a special focus on the 75th anniversary of COB. Given the significance of the year, it was appropriate that the annual event took place in the country where the COB was originally formed in 1949, and where it operated for many years before its move to Brussels.
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STATISTICS
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by Andrei VICTOR, 2024-06-11
According to the “Overview of supervised entities’ activities in the financial services sector for March 2024” published by the Croatian Financial Services Supervisory Agency (HANFA), the total gross written premium collected by the 14 insurance companies operating on the market in the first three months of 2024 amounted to EUR 451.9 million, of which EUR 77.7 million (17.2%) related to life insurance premium and EUR 374.2 million (82.8%) to non-life insurance premium.
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by Andrei VICTOR, 2024-06-11
The insurance market of Kosovo totaled EUR 41.6 million at the end of Q1 2024, 22.3% more y-o-y, according to data provided by the Central Bank (CBK).
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by Andrei VICTOR, 2024-06-11
According to preliminary figures published by the Insurance Supervision Agency of Montenegro (ISA), the business of Montenegrin insurers increased by 12.58% y-o-y in the first quarter of 2024, reaching EUR 34.46 million.
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by Marina MAGNAVAL, 2024-06-11
At the end of 1Q2024, the insurance sector of Uzbekistan grew by 32.64% y-o-y and amounted to UZS 2,213.96 billion (EUR 162.80 million), according to data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.
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ON THE MOVE
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by Daniela GHETU, 2024-06-10
Global insurance broker Aon announced that Edmund Reese will be appointed executive vice president and chief financial officer (CFO) of Aon, effective July 29, 2024.
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by Andrei VICTOR, 2024-06-10
Chubb announced a definitive agreement to acquire Catalyst Aviation Insurance, a Melbourne-based managing general agent that specializes in general aviation insurance for the Australia market.
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by Daniela GHETU, 2024-06-11
Argenta Holdings Limited, today announces the appointment of Niranjan Nathan as group chief risk officer (subject to regulatory approvals), assuming the role from Carol-Ann Burton, who will continue as group general counsel and compliance director.
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EVENTS
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CURRENT XPRIMM REPORTS
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