TOP NEWS
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by Daniela GHETU, 2024-12-12
In Q3 2024, the average annual premium for mandatory MTPL insurance for standard-use passenger cars in Hungary rose by 10% y-o-y, reaching HUF 58,000, said the National Bank of Hungary. Claims costs rose by half as much, and there was no growth in claims expenses during the last quarter. With inflation declining, a smaller increase would have been justified.
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by Daniela GHETU, 2024-12-12
The consumer-friendly home insurance policies offer significant advantages compared to other market options. Their average premium is 22% lower than the average annual premium for fully insured residential properties and amounts to HUF 50,800, according to the Hungarian National Bank’s Q3 2024 Home Insurance Index.
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by Daniela GHETU, 2024-12-12
In 3Q 2024, Polish insurers paid compensation and benefits worth PLN 36.8 billion (EUR 8.6 billion), by ~11.5% more y-o-y. However, claims paid for losses caused by violent weather and the effects of floods in southern Poland - increased by as much as 40% y-o-y, to PLN 2.3 billion, data collected by PIU – the Polish Chamber of Insurers show.
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by Daniela GHETU, 2024-12-09
On Thursday, December 5, 2024, the Romanian Association of Insurance and Reinsurance Brokers (PRBAR) elected a new Board of Directors during the organization's General Assembly. Viorel VASILE, CEO of Safety Broker, was elected as the new President of PRBAR.
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by Daniela GHETU, 2024-12-11
LIFE IS HARD, a leader in digitalization solutions for businesses based in Romania, announces the winning of a new European funding project, entitled "Work is cool - Students prepared for competition and performance", worth a total of approximately EUR 1 million.
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by Daniela GHETU, 2024-12-12
AM Best has upgraded Generali's Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” (Superior) from “a+” (Excellent). The outlook is stable.
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by Daniela GHETU, 2024-12-12
The total economic losses from the DANA (Depresión Aislada en Niveles Altos) floods in Spain in 2024 were estimated to EUR 12 - 13 billion, while Spain’s public/private Consortium for Insurance Compensation (CCS), said it would payout at least EUR 3.5 billion, an analysis provided by Moody’s said.
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by Daniela GHETU, 2024-12-12
During its 2024 Investor Day in London, SCOR presented its new L&H strategy and updated Forward 2026 strategic plan which was approved by Group’s Board of Directors at a meeting held on 11 December 2024.
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by Marina MAGNAVAL, 2024-12-09
The Talanx Group, in cooperation with Talanx subsidiary Hannover Re, has issued its debut catastrophe bond (“cat bond”), buying multi-year protection for earthquake risks in Chile. The bond has a size of USD 100 million, the Group said. The bond provides Talanx with protection for the period between January 2025 and December 2027.
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by Media XPRIMM, 2024-12-11
UNIQA’s new “Growing Impact 2025 – 2028” strategy announced today aims for an average premium growth of 5%/year and net combined ratio consistently below 94%; annual growth in consolidated profit of > 6% and a stable and sustainable ROE after taxes of over 12%, as well as an annual increase in dividend per share.
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by Media XPRIMM, 2024-12-12
Envelop Risk, the data-driven cyber reinsurance and analytics specialist, announced it has reached the milestone of USD 1 billion GWP since its launch in 2018, during which, it also achieved a compound annual growth rate of 40%.
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by Marina MAGNAVAL, 2024-12-09
Voluntary motor vehicle insurance in Azerbaijan for January-October of this year amounted to AZN 50.69 million (~EUR 27.55 million), which is 19% more y-o-y, ABC.AZ writes with reference to the Central Bank report.
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by Marina MAGNAVAL, 2024-12-09
In January-October 2024, total GWP of insurance organizations of the republic amounted to BYN 2,166.1 million (~EUR 0.61 billion), which is 18.9% more y-o-y, according to the Ministry of Finance of the Republic of Belarus.
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by Marina MAGNAVAL, 2024-12-09
It is proposed to postpone introduction of fines for the absence of an MTPL policy in Kyrgyzstan for six months, as reported by the Chairman of the Service for regulation and supervision of the financial market of Kyrgyzstan Marat Pirnazarov, economist.kg writes.
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by Marina MAGNAVAL, 2024-12-09
Generali has reached an agreement for the sale of its 100% stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd., the company said.
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by Media XPRIMM, 2024-12-09
Together with other six professional associations of the financial world, Insurance Europe has signed a joint statement calling on the co-legislators to deliver on commitments to boost European competitiveness and to avoid concluding the Financial Data Access (FiDA) Regulation before a thorough assessment of its impact across the entire value chain is completed.
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by Media XPRIMM, 2024-12-11
Optio Group, a leading specialty MGA, today announces the completion of its strategic investment of Italian MGA, Heca S.r.l. (Heca) after receiving regulatory approval.
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INSURANCE EUROPE NEWS
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by Daniela GHETU, 2024-12-12
The insurance industry supports the transition away from internal combustion engines (ICEs). Indeed, given the challenges posed by the accelerating pace of climate change, driving cars that no longer run on fossil fuels is the only right choice for us as a society, maybe even the only possible choice.
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MARKETS & TRENDS
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by Daniela GHETU, 2024-12-12
Zurich Insurance Group has released its Global Economic and Markets Outlook 2025, highlighting significant shifts in the global economic trajectory. The report underscores a period of flux in the macroeconomic backdrop, driven by recent geopolitical developments, fiscal measures and evolving trade policies.
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STATISTICS
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by Marina MAGNAVAL, 2024-12-09
According to the Insurance Supervision Service of Georgia, the insurance market grew by 20.12% in the first three quarters of 2024, amounting to GEL 982.57 million (EUR 322.37 million).
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by Marina MAGNAVAL, 2024-12-09
At the end of 3Q2024, the insurance sector of Uzbekistan grew by 18.64% y-o-y and amounted to UZS 7.01 trillion (EUR 494.28 million), according to data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.
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by Daniela GHETU, 2024-12-12
According to the quarterly statistics published by the Central Bank of Hungary, at the end of Q3 2024, the aggregate GWP of Hungarian insurers reached EUR 3.23 billion, 9.87% up y-o-y. In local currency, the market growth was 11.65% y-o-y.
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by Daniela GHETU, 2024-12-12
Q3 2024 preliminary insurance market figures published by HAIC - Hellenic Association of Insurance Companies, shows that at the end of September 2024, the Greek insurance market totaled EUR 4.19 billion, up by 10.8% y-o-y.
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ON THE MOVE
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by Marina MAGNAVAL, 2024-12-09
Aon, a leading global professional services firm, named Robert O’Connell as global cyber strategy and growth leader, executive managing director, within its Reinsurance Solutions business. O’Connell will be based in New York and report to Randy Stanco, U.S. strategic business leader for Reinsurance Solutions.
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by Marina MAGNAVAL, 2024-12-09
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced that it has appointed Kerry O’Brien as global head of Insurance Asset Management and Liability Solutions, the company said in its press-release.
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by Media XPRIMM, 2024-12-12
Arch Insurance announced the appointment of Rachida LAAZAOUZI as Senior Casualty Underwriter for the French market, effective immediately.
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EVENTS
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CURRENT XPRIMM REPORTS
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