TOP NEWS
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by null, 2024-10-21
Each stakeholder within the (re)insurance ecosystem should have a clearly defined role if the industry is to remain resilient in response to the growing systemic risk potential, said Laurent Rousseau, CEO, EMEA and Global Capital Solutions, Guy Carpenter, speaking ahead of the Guy Carpenter Baden-Baden Reinsurance Symposium.
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by null, 2024-10-23
Reinsurers tend to concentrate on pricing risks, but this might lead to missing “the bigger picture”, said Laurent Rousseau, CEO EMEA, Guy Carpenter speaking at the Reinsurance Symposium in Baden Baden. There is a clear difference between value and price, he observed, and the industry should abandon a strictly quantitative view.
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by Daniela GHETU, 2024-10-21
After a few years of strong growth, the European reinsurance market should remain dynamic, with demand for property reinsurance protection continuing to grow, Munich Re said, stressing out that to accommodate growing demand, it constantly invests in its underwriting capabilities with experts and models.
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by null, 2024-10-23
Leopoldo Camara, Head of P&C reinsurance for Northern, Central, and Eastern Europe at Swiss Re, highlighted the need for a coordinated approach across the insurance industry in response to increasing natural catastrophes, geopolitical tensions, and interconnected risks.
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by Daniela GHETU, 2024-10-23
“We are the advocate of the client. It is our job to make a market; to negotiate in that area around capital versus risk. Reinsurers want to grow, cedents want to buy more,” Julian Enoizi, CEO Europe, Guy Carpenter explained in an interview with Intelligent Insurer from the 2024 Baden-Baden Reinsurance Meeting.
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by Marina MAGNAVAL, 2024-10-24
Last year, there were 71 deaths per million inhabitants in Croatia, while the average in the EU was 46, osiguranje.hr reports.
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by Marina MAGNAVAL, 2024-10-24
According to Mart Jesse, chairman of the board of the Estonian Insurance Association (EKsL), mandatory liability insurance of health care providers, or patient insurance, is an important milestone in Estonian health care, which increases confidence of both health care workers and patients, the Association said.
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by Marina MAGNAVAL, 2024-10-24
For over a month, member insurance companies of the SLASPO (Slovak Insurance Association) have been registering claims caused by September's extreme rainfall and subsequent floods in Slovakia, SLASPO said.
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by Daniela GHETU, 2024-10-23
Munich Re reported Q3 2024 positive operational performance across all lines of business, resulting in a preliminary net result of about EUR 0.9 billion. The German reinsurer is confident it will surpass its full-year profit target of EUR 5 billion.
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by Marina MAGNAVAL, 2024-10-24
With extreme weather events becoming more frequent and severe, cities face significant risks to their environments, economies and public health. But they also hold the potential to implement creative solutions for climate adaptation and resilience, according to the new research of Zurich Insurance Group (Zurich) and Economist Impact.
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by Marina MAGNAVAL, 2024-10-24
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the Group's German business, anticipates further price increases and improved terms and conditions in the 1 January 2025 renewals in property and casualty reinsurance after losses caused by severe weather events, Hannover Re said in its press release.
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by Marina MAGNAVAL, 2024-10-24
Marsh McLennan (MMC), a global leader in risk, strategy and people, reported financial results for the third quarter ended September 30, 2024.
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by Marina MAGNAVAL, 2024-10-24
Moody’s Ratings has confirmed Generali Group’s insurance financial strength rating (IFSR) at A3 with a stable outlook, according to the Generali’s press release.
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by Daniela GHETU, 2024-10-24
German insurers are preparing for significant losses due to recent floods in southern Germany, with early reports already coming in, according to GDV Managing Director Jörg Asmussen. However, it's too soon to estimate the full extent of the damage until water levels recede.
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by Marina MAGNAVAL, 2024-10-24
Nomad Insurance, one of the top-10 insurance companies in Kazakhstan, has announced a reinsurance agreement with Coca-Cola HBC, one of the largest beverage producers in the world, the insurer said in its statement.
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by Marina MAGNAVAL, 2024-10-24
AM Best agency confirmed Eurasia's financial strength rating at B++ and its long-term credit rating at bbb+ with a stable outlook, the insurer reports. It is noted that the company has maintained the highest rating among all insurance companies in Kazakhstan from AM Best for many years.
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by Marina MAGNAVAL, 2024-10-24
From January 1, 2025, amendments to the Traffic Regulations approved on December 29, 2023, will come into force in Kyrgyzstan. The amendments introduce fines for individuals (owners or drivers of vehicles registered in Kyrgyzstan) for the absence of an MTPL policy, the Service for regulation and supervision of the financial market reports.
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by Marina MAGNAVAL, 2024-10-24
The insurance company INGO paid record compensation to farmers – over UAH 231 million (~EUR 5.17 million), Forinsurer wrote. 97% of farmers who participate in the “Meteoprotection” program in the 2024 season received record insurance compensation due to the extremely dry and hot season during the flowering and grain filling time.
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by Marina MAGNAVAL, 2024-10-24
A state health insurance system has been launched in Tashkent and Syrdarya region since October 1. The document on its introduction was signed by the President of Uzbekistan in early September, Gazeta.uz reports.
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by Marina MAGNAVAL, 2024-10-24
The 11th edition of the AXA’s Future Risks Report highlights the growing complexity of managing risks, making decisions and tackling challenges in a world marked by rapid technological advances and increasingly interconnected risks, from geopolitics to security to misinformation.
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by Marina MAGNAVAL, 2024-10-24
NFP, an Aon company and leading international insurance brokerage and consultancy, announced its acquisition of IHI Group, a Dublin-based advisory firm specialising in financial planning, healthcare and general insurance needs, Aon said in its press release.
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TOP EVENTS
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by Daniela GHETU, 2024-10-24
Re/insurers professionals that attended the annual Baden Baden Meeting this year had the opportunity to get the first copies of three new XPRIMM reports
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by Daniela GHETU, 2024-10-24
The Baden Baden Meeting 2024 hosted an evening dedicated to the Georgian insurance market. International business peers of the Georgian insurers had the opportunity to meet the Georgian insurance professionals and also get the latest issue of the XPRIMM Insurance Profile Georgia FY2023 and 1H2024.
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INSURANCE EUROPE NEWS
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by Daniela GHETU, 2024-10-23
24 February 2022 is a day that divided reality. A full-scale war in Ukraine became a reality. Panic, horror, confusion, fear for the lives of relatives, hatred for the enemy – this is just some of the emotions experienced by every Ukrainian on that day and every day since.
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STATISTICS
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by Daniela GHETU, 2024-10-24
Insurers in the Central and East European (CEE) insurance markets wrote gross premiums worth EUR 13.45 billion in Q1 2024, which is 7.6% more y-o-y. Paid claims amounted to EUR 6.84 billion, 6% up y-o-y. Most markets recorded a positive dynamic, in some cases even at a double-digit growth rate.
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by Daniela GHETU, 2024-10-21
At the end of March 2024, the insurance market in Bulgaria totaled EUR 574.66 million, down by almost 1% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.Life insurance accounted for 16.9% of the market portfolio, about 3 percentage points more than by the end of March 2023. GWP for life insurance increased y-o-y by 22.5%, to EUR 97.2 million.
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by Daniela GHETU, 2024-10-24
According to data provided by HANFA – the Croatian Financial Services Supervisory Agency, at the end of September 2024 the total premium collected by the local insurers amounted to EUR 1.43 billion, of which EUR 0.25 billion (12.18% y-o-y growth) related to life insurance premium and EUR 1.18 billion (10.6% y-o-y growth) to non-life insurance premium.
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by Daniela GHETU, 2024-10-24
At the end of September 2024, the insurance market of Montenegro totaled EUR 102.6 million, 12.7% more y-o-y, while the value of paid claims by insurers totaled EUR 42.64 million, up by 22.84% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.
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EVENTS
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CURRENT XPRIMM REPORTS
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