TOP NEWS
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by Daniela GHETU, 2024-11-26
Vienna Insurance Group (VIG) reported for 3Q 2024 GWP worth EUR 11.5 billion (+8.0% y-o-y) and profit before taxes of EUR 666.5 million (+8.5% y-o-y), while the P&C net combined ratio remained the same as previous year at 94.3%. Management confirms profit forecast for 2024
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by Marina MAGNAVAL, 2024-11-25
ASA Central osiguranje recorded a net profit of 4,454,816 KM in 9M2024, which is 14% more y-o-y, osiguranje.hr writes with reference to the report published on the website of Sarajevo Stock Exchange.
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by Marina MAGNAVAL, 2024-11-25
Fitch Ratings has assigned Croatia's top insurer Croatia Osiguranje (Crosig) an Insurer Financial Strength (IFS) rating of 'A-' (strong) with a stable outlook, SeeNews reports.
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by Daniela GHETU, 2024-11-28
In 3Q 2024, insurers in Poland processed over 1.4 million claims under MTPL and motor own damage insurance (MoD). According to the data of the Insurance Guarantee Fund Information Centre, paid claims reached PLN 14.3 billion, including PLN 8.1 billion for MTPL and PLN 6.2 billion for MoD claims.
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by Marina MAGNAVAL, 2024-11-25
During the first 9M2024, Sava Insurance Group increased its business volume by 14.7% to EUR 814.7 million, with significant growth in all operating segments. Double-digit growth in GWP was achieved in both the non-life (EU 17.2%, non-EU 15.0%) and life business (EU 11.7%, non-EU 14.1%), while reinsurance premiums also increased by a solid 7.9%.
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by Marina MAGNAVAL, 2024-11-25
The insurance industry remains one of the main pillars of the Cypriot economy, providing stability and protection to consumers and businesses, especially in times of uncertainty, said Constantinos Kalopsidiotis, Assistant Deputy Commissioner of Insurance at the 46th Annual General Meeting of the Association of Insurance Companies of Cyprus (SAEK), cyprusinsurancenews.com writes.
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by Marina MAGNAVAL, 2024-11-25
Urgent measures are needed in the compulsory motor third-party liability insurance, according to AcnTURK Insurance general manager, Ali Murat Disci in his article titled “Traffic Insurance is not just Traffic Insurance”, published by Insurance Media, Middle East Insurance Review reports.
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by Marina MAGNAVAL, 2024-11-25
Azerbaijan's Bak? S??orta (Baku Insurance) has announced its liquidation, Trend reports with reference to the Vergilar newspaper of the State Tax Service under the Ministry of Economy.
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by Marina MAGNAVAL, 2024-11-25
Belarusian insurers are entering the Chinese market - the first practical step on this path was a business visit of the BAS (Belarusian Association of Insurers) delegation to China, Dalian, on October 14-19, 2024.
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by Marina MAGNAVAL, 2024-11-25
INGO, which is among top-5 insurers in Ukraine, recorded growth in almost all key indicators in the first 9 months of 2024. Total GWP amounted to UAH 2.46 billion (~EUR 53.67 million), which is 23.5% more y-o-y.
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by Marina MAGNAVAL, 2024-11-25
On November 14, the international rating agency Moody's Ratings announced in its official press release that it upgraded the financial strength rating of Uzbekinvest insurance company to Ba2 with a stable outlook, the insurer writes.
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by Marina MAGNAVAL, 2024-11-25
Zurich Insurance Group (Zurich) presented a new three-year plan at its Investor Day, building on successful strategy execution, one year ahead of the conclusion of the current cycle 2023-2025, benefiting from the successful execution of its strategy and a better-than-anticipated market environment.
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by Marina MAGNAVAL, 2024-11-26
Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan announced that it has entered into an agreement to acquire the remaining 51.5% of shares of Carpenter Turner, an Athens-based regional leader in the reinsurance broking and advisory business, the company said in its press-release.
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by Media XPRIMM, 2024-11-26
Oak Reinsurance (“OAK Re”), a global reinsurance company, announced that its Lloyd’s Syndicate 2843 has received permission to underwrite business incepting from 1 January 2025. This follows the approval in principle that was received in September 2024.
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INSURANCE EUROPE NEWS
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by Daniela GHETU, 2024-11-25
Insurance companies, as underwriters and major institutional investors, hold responsibility and power in many areas of sustainable development. Fortunately, behaving responsibly and pursuing profitability objectives are not mutually exclusive. The sector must ambitiously face the global challenges that threaten not only our entire economic system but the very future of humankind.
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MARKETS & TRENDS
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by Marina MAGNAVAL, 2024-11-25
Global life insurance premiums are forecast to grow at an annual rate of 3% in 2025 and 2026, more
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by Marina MAGNAVAL, 2024-11-25
According to the recent McKinsey’s Global Insurance Report 2025, published in three chapters covering commercial P&C, personal lines P&C, and life, finding profitable growth is an imperative for the world’s personal and commercial property and casualty insurers, while life carriers must adjust to changing consumer needs.
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STATISTICS
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by Marina MAGNAVAL, 2024-11-26
At the end of 3Q2024, the insurance sector of Belarus amounted to BYN 1,929.51 million (EUR 538.31 million), which is 17.46% more y-o-y in local currency, according to data published by the Ministry of Finance of the Republic of Belarus.
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by Marina MAGNAVAL, 2024-11-26
The insurance sector of Kyrgyzstan grew by 56.29% at the end of 3Q2024, reaching KGS 3,734.84 million (EUR 39.80 million), according to data published by the Service for regulation and supervision of the financial market of Kyrgyzstan.
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by Marina MAGNAVAL, 2024-11-26
According to the National Bureau of Statistics, the insurance sector of Moldova grew by 10.90% to MDL 2,421.91 million (EUR 124.52 million) at the end of 3Q2024. At the same time, paid claims grew by 26.02% and reached MDL 901.87 million (EUR 46.37 million).
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EVENTS
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CURRENT XPRIMM REPORTS
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