TOP NEWS
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by Daniela GHETU, 2024-12-19
As we bid farewell to another remarkable year, we want to take a moment to express our heartfelt gratitude for your unwavering support and trust in XPRIMM News. In 2024, you accompanied us on a journey of discovery, staying informed and engaging with the stories that matter most.
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by Marina MAGNAVAL, 2024-12-17
Total GWP of insurance companies operating in Bosnia and Herzegovina’s Federation increased by 9.7% y-o-y to BAM 672.4 million (EUR 343.8 million) in January-November of 2024, SeeNews writes with reference to official data.
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by Marina MAGNAVAL, 2024-12-17
The assets managed by insurance companies operating in Bulgaria amounted to nearly BGN 11.3 billion (EUR 5.8 billion) at the end of September, growing by 8.8% y-o-y, SeeNews writes with reference to the central bank.
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by Marina MAGNAVAL, 2024-12-17
UNIQA Hrvatska in the SEE region (Bosnia and Herzegovina, Serbia, Montenegro, Bulgaria, Croatia and Romania), achieved excellent business results in the first nine months of 2024: according to preliminary results, the premium collected grew by 14.4%, and profit before tax amounts to EUR 6.7 million.
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by Marina MAGNAVAL, 2024-12-17
ANO, the first Croatian insurance broker and one of the leaders on the domestic market, is expanding its operations by entering the market of Bosnia and Herzegovina, osiguranje.hr writes.
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by Daniela GHETU, 2024-12-17
In 1H 2024, claims paid for storm-related damages to insured homes by members of UNSAR – the professional association of the Romanian insurers, reached RON 24 million (~EUR 4.8 million), which about 94% of the total compensations paid in 2023 under voluntary home insurance policies, the association said.
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by Daniela GHETU, 2024-12-18
The Romanian Government has announced it decided on Wednesday, during its final meeting of the year, the cap on rates and commissions for MTPL insurance policies was extended by another three months, until March 31, 2025. The decision was met with protests from industry, as it threatens insurance brokers’ financial sustainability, as well as the level of financial protection in our society.
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by Marina MAGNAVAL, 2024-12-17
The Sava Insurance Group has assessed the key performance indicators and set its performance targets for 2025, and also has set new annual targets for each of its strategic business pillars on the road to delivering the Group’s 2023–2027 strategy.
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by Marina MAGNAVAL, 2024-12-17
S&P Global Ratings has revised its outlook on Triglav Group from stable to positive. The rating action expresses the agency's expectation that Triglav Group’s profitably will grow in the coming years, it will continue to expand on international markets and occupy a leading market position in Slovenia, while maintaining its capital strength, the insurer said.
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by Marina MAGNAVAL, 2024-12-17
S&P Global Ratings said it has revised the outlook on Sava Re and Zavarovalnica Sava to positive from stable and has affirmed its “A” financial strength and issuer credit ratings, the insurer reports.
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by Marina MAGNAVAL, 2024-12-17
Munich Re is aiming for an IFRS net profit of EUR 6 billion in 2025 thanks to good operational performance in all business segments. Group insurance revenue is expected to reach EUR 64 billion in 2025, and return on investment to improve to above 3.0%, the Group said.
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by Marina MAGNAVAL, 2024-12-17
The MTPL loss ratio continues to grow on the Armenian insurance market, reaching 81.5% in December of this year (vs 70% a year earlier), ArmInfo writes based on data from the Armenian Bureau of Motor Insurers.
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by Marina MAGNAVAL, 2024-12-17
As of January 15, 2025, the cost of MTPL and Green Card will be liberalized on the Moldovan insurance market.
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by Marina MAGNAVAL, 2024-12-17
The overall structure of eligible assets for calculating the regulatory capital of Ukrainian insurance companies as of October 1, 2024, demonstrates stability and ensures compliance with solvency requirements, Forinsurer writes based on the analysis of insurers' reports provided to the NBU (National Bank).
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by Marina MAGNAVAL, 2024-12-17
AON, a leading global professional services firm, and the European Bank for Reconstruction and Development (EBRD) have structured a tailor-made and highly innovative facility supporting the revitalization of the war risk insurance market in Ukraine, the company said.
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by Marina MAGNAVAL, 2024-12-17
Allianz introduces four new ambitious Group financial targets for the 2024-2027 period at its Capital Markets Day 2024 and commits to an attractive total payout ratio of at least 75% on average, according to the company’s press release.
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by Marina MAGNAVAL, 2024-12-17
Swiss Re announced its targets for 2025, including a Group net income of more than USD 4.4 billion. The Group aims to grow the ordinary dividend per share by 7% or more per year over the next three years and maintains its multi-year IFRS ROE target of more than 14%, Swiss Re said in its report.
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by Marina MAGNAVAL, 2024-12-17
The Dutch insurer Aegon has updated its net-zero targets for 2030. This new set of targets reinforces Aegon’s commitment to transition its general account investment portfolio of around EUR 70 billion to net-zero greenhouse gas (GHG) emissions by 2050, supporting the global transition to a net-zero economy.
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by Marina MAGNAVAL, 2024-12-17
MetLife, one of the world’s leading financial services companies, hosted its Investor Day in New York City on December 12 and introduced the company’s powerful five-year growth strategy, New Frontier.
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by Marina MAGNAVAL, 2024-12-17
MetLife and General Atlantic announced the formation of Chariot Reinsurance (Chariot Re), a to-be-registered Class E Bermuda-based life and annuity reinsurance company. Chariot Re is expected to launch in the first half of 2025 and will have a future strategic reinsurance partnership with MetLife.
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by Marina MAGNAVAL, 2024-12-17
KBC Group’s capital remains well above the minimum capital requirements - at the end of the third quarter of 2024, KBC Group’s fully loaded CET1 ratio amounted to 15.2%, well above the new CET1 requirement, the Group said in its press release.
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by Marina MAGNAVAL, 2024-12-17
American International Group (AIG), a leading global insurance organization, announced that is has successfully closed the previously announced sale of approximately 120 million shares (21.6%) of its Corebridge Financial, Inc. common stock to Nippon Life Insurance Company for USD 31.47 per share, for an aggregate purchase price of USD 3.8 billion.
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by Marina MAGNAVAL, 2024-12-17
The Talanx Group is setting its new targets for the next three years now that it is set to clearly exceed its 2025 targets a year ahead of schedule.
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by Daniela GHETU, 2024-12-18
In 2024, SCOR presented its annual Actuarial Awards in seven countries: Australia, France, Germany, Italy, Singapore, Sweden, and Switzerland. This was also the inaugural year for the new SCOR Actuarial Awards in Asia-Pacific. The tradition of the Actuarial Awards date since 1996.
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INSURANCE EUROPE NEWS
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by Olav JONES, Deputy Director General and Director Economics & Finance, Insurance Europe
Regulation plays a key role in ensuring fairness and safety for European citizens and businesses. For insurers, efficient and effective regulation can help maintain customer trust and confidence, preserve the level playing field and allow cross-border growth and competition.
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MARKETS & TRENDS
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by Daniela GHETU, 2024-12-19
A few days before the beginning of 2025, Swiss Re's Business Unit CEOs share their views on the key themes that will shape the re/insurance industry in the year ahead. Geopolitical, economic and social tensions, as well as natural catastrophes will be the main threats to which reinsurers will have to respond.
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TOP EVENT
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by Daniela GHETU, 2024-12-18
ReConnext, the much-anticipated all-inclusive global reinsurance conference, is set to redefine networking in the reinsurance industry when it takes place on 16-19 February 2025 in Antalya, Türkiye. Designed as a seamless, all-in-one event, ReConnext combines strategic meetings, insightful stage sessions, and world-class facilities under a single, comprehensive offering.
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STATISTICS
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by Daniela GHETU, 2024-12-18
The Czech insurance market ended the third quarter of 2024 with GWP worth CZK 173.64 billion (EUR 6.89 billion), up by 7.9% y-o-y, according to the end-September figures published by the Czech National Bank (CNB).
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by Daniela GHETU, 2024-12-18
The largest CEE insurance market posted aggregate 3Q2024 GWP worth PLN 63.25 billion (EUR 14.75 billion), up by 9.6% y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority). At the same time, claims and benefits paid by local insurers increased by 11% y-o-y to PLN 36.78 billion or EUR 8.58 billion.Life GWP was up by 4% y-o-y to over PLN 17.7 billion (EUR 4.13 billion), while the non-life insurance segment increased by 11.95% to PLN 45.55 billion (EUR 10.6 billion).
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by Marina MAGNAVAL, 2024-12-18
According to the 3Q2024 results, the market grew by 46.20% y-o-y, amounting to RUB 2.40 trillion (EUR 23.26 billion). Investment and accumulative life insurance segments were a powerful driver of the insurance market – they grew to record levels, according to a review of key performance indicators of insurers published by the Central Bank.
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ON THE MOVE
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by Daniela GHETU, 2024-12-17
Sorin GRECEANU, General Manager of BAAR (the Romanian Motor Insurers' Bureau), was elected in early December 2024 as the President of the Council of Bureaux (COB) for a five-year term, starting in June 2025. The COB oversees the international MTPL insurance system, including the Green Card framework.
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by Marina MAGNAVAL, 2024-12-17
Following the recommendation of the Compensation, Governance & Sustainability Committee, AXA’s Board of Directors has decided to appoint Ewout Steenbergen to replace Rachel Duan for the remainder of her mandate, that is until the 2026 Annual Shareholders’ Meeting, the press release says.
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by Media XPRIMM, 2024-12-18
Agile Insurance Group today announced that David Hughes, formerly AXA XL’s head of marine hull and war for the UK and Lloyd’s, has joined as head of marine and as deputy active underwriter of Agile’s Lloyd’s syndicate – Agile Underwriting Services Syndicate AUS2427.
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CURRENT XPRIMM REPORTS
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