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STATISTICS: CEE REGION, FY2018: Polish market's share in the regional insurance business fell below 40%
by Daniela GHETU, 2019-05-09
The CEE insurance market grew by 2.2% y-o-y in 2018, reaching a total GWP volume of EUR 36.9 billion. At the same time, CEE insurers paid benefits and indemnities worth EUR 22.44 billion, 2.37% up y-o-y. Poland, the region's flagship market, was also the only one recording a negative change in GWP, which made it diminish its share in the region's GWP to 39.2%, from 41.4% in 2017.
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Allianz to invest in Czech gas distribution network GasNet
by press.release, 2019-05-08
Allianz Capital Partners (ACP) on behalf of Allianz insurance companies has, in a consortium led by Macquarie Infrastructure and Real Assets (MIRA), reached an agreement to purchase a stake in GasNet.
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LATVIA: Number of accidents involving uninsured vehicles decreased in 2018
by Cosmin CONCEATU, 2019-05-09
The Latvian Motor Insurers Bureau (LTAB) reported that the number of road traffic accidents (RTA) in Latvia involving uninsured vehicles decreased in 2018, compared to the previous year. In 2017, about 1.24% of total RTA were caused by uninsured vehicles, while last year 1.11% of RTA were caused by vehicles without a valid MTPL policy (- 0.13 pp).
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POLAND: KNF drew attention over Motor insurance premiums
by Cosmin CONCEATU, 2019-05-09
The Polish Financial Supervision Authority (KNF) emphasized the adequacy of motor insurance premiums, for class 3 (Casco/Motor Hull) and class 10 (mandatory MTPL), since this group constitutes a significant part of the Polish market portfolio.
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ROMANIA: The Insurance Pool against Natural Disasters paid RON 1.2 million in claims for the first quarter of 2019
by Cosmin CONCEATU, 2019-05-09
In the first quarter of 2019, the Insurance Pool against Natural Disasters of Romania (PAID) paid five times more indemnities for Nat Cat events, compared to the same period in 2018. About RON 1.24 million (~EUR 0.26 million) was offered as compensation for those insured by PAID, according to latest data requested from PAID by 1asig.ro.
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ERGO to sell its TURKISH operations to TALANX
by Andrei Victor, 2019-05-08
Hannover-based insurer TALANX informed it is expanding its activities in Turkey by acquiring the P&C insurer ERGO Sigorta.
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ARMENIA: average MTPL loss ratio increased to 64.5%
by Marina MAGNAVAL, 2019-05-08
For the first three months of this year, the average MTPL loss ratio increased from 62.9% to 64.5% (without deduction of reserves) and from 71.1% to 73.7% (with deduction of reserves), according to the Bureau of Motor Insurers.
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GEORGIA: one-time subsidization is needed to support forthcoming compulsory motor insurance
by Marina MAGNAVAL, 2019-05-09
According to the President of the Georgian Insurance Association, Devi KHECHINASHVILI, one-time subsidization of compulsory vehicle insurance is a good initiative to increase civil responsibility, the Georgian Media holding Commersant wrote.
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KAZAKHSTAN: assets of TOP-3 at the end of March amounted to almost half of the market assets
by Marina MAGNAVAL, 2019-05-08
As of the end of March 2019, asset growth of Kazakh insurance companies reached 16.9% y-o-y, according to Allinsurance.kz.
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STATISTICS: KYRGYZSTAN, FY2018: more than 83% of business generated by voluntary classes
by Marina MAGNAVAL, 2019-05-09
In 2018, the insurance market of Kyrgyzstan saw growth of 8.79% y-o-y in local currency. GWP, generated by insurers, reached KGS 1.09 billion (EUR 13.65 million), as data published by the National Statistical Committee of the Republic show.
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RUSSIA: ACRA affirms AAA(RU) for the Russian National Reinsurance Company
by Marina MAGNAVAL, 2019-05-08
The Analytical Credit Rating Agency (ACRA) affirmed (RU), outlook stable for the Russian National Reinsurance Company (RNRC), the reinsurer informed.
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RUSSIA: number of complaints against insurers decreased by 36% y-o-y
by Marina MAGNAVAL, 2019-05-09
For the period from January to March 2019, the total number of complaints against insurers amounted to 12,200, which is 36% less y-o-y, according to the Bank of Russia.
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Reinsurers operating performance improved in 2018, despite costly natural catastrophes events
by Cosmin CONCEATU, 2019-05-06
Aon's latest ARA study over 23 large reinsurance companies found that total capital deployed stood at USD 233 billion at 31 December 2018. Operating performance improved, despite high losses caused by natural events. The investment result was weaker, earnings remaining well below the cost of capital.
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SCOR reiterates its position concerning the implementation of an alternative natural catastrophe reinsurance scheme in France
by press.release, 2019-05-07
SCOR notes the decision of the General Court of the European Union, which confirms the decision of September 26, 2016, by the European Commission concerning the guarantee granted by the French State to the CCR regarding natural catastrophe reinsurance in France.
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AXA XL launches expatriate insurance solution in Iberia
by press.release, 2019-05-08
AXA XL Insurance has partnered with AXA - Global Healthcare to launch a new healthcare insurance solution for Spanish and Portuguese companies with employees on expatriate assignments.
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Hannover Re, Q1 2019: Gross written premium climbed by 19.2%
by Cosmin CONCEATU, 2019-05-07
Hannover Re net income increased by 7.4% in the first quarter of 2019, compared to first quarter of 2018 level, reaching EUR 294 million. The operating profit (EBIT) grew by more than EUR 16 million (+3.7%) to EUR 450 million.
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Swiss Re, Q1 2019: P&C losses affected total net income
by Cosmin CONCEATU, 2019-05-03
Swiss Re reported a net income of USD 429 million for the first quarter of 2019, reflecting high L&H Re performance and strong investment results, but the large losses from property and casualty (P&C) businesses impacted the overall results.
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Sirius Group, Q1 2019: Technical profit sustained by property business lines
by press.release, 2019-05-07
Sirius Group reported comprehensive income of USD 76 million for the first quarter of 2019 compared to USD 30 million for the first quarter of 2018. Gross written premiums for the quarter were USD 622 million, reflecting an increase of 1%.
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AXA, Q1 2019: Strong and disciplined growth in first three months
by Cosmin CONCEATU, 2019-05-03
In the first quarter of 2019, AXA Group reached EUR 35 billion in total revenues, increasing by 3% compared to the first quarter of 2018. European market (including French market) brought more than half of total AXA revenues (55.7%).
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Willis Towers Watson, Q1 2019: Strong earnings reported for the first quarter
by Cosmin CONCEATU, 2019-05-03
For the first quarter of 2019, Willis Towers Watson revenue was USD 2.31 billion, showing an increase of 1% (5% increase constant currency and organic) as compared to USD 2.29 billion for the same period in the prior year.
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MAPFRE, Q1 2019: First quarter revenues increased by EUR 422 million
by Cosmin CONCEATU, 2019-05-06
MAPFRE initiated its Strategic Plan 2019-2021, stimulating profitable growth and improving the key financial indicators against a backdrop of near currency neutrality and a still complex global economic environment.
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TALANX: the year started with strong GWP growth and good upturn in Group net income
by Marina MAGNAVAL, 2019-05-09
Hannover-based insurer TALANX Group reported a double-digit growth in GWP of 11% to EUR 11.7 (10.6) billion, the insurer officially announced May 9, 2019.
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Register now at the "State Insurance Supervision Efficiency in a Frame of a New Solvency Regulation Approach" Conference in Moscow
by Adina TUDOR, 2019-05-09
On 25 June, the Association of European Businesses (AEB) as the AIDA Russian Chapter is organizing the "State Insurance Supervision Efficiency in a Frame of a New Solvency Regulation Approach" Conference.
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Here's how to deliver streamlined claims based on industry findings
by Adina TUDOR, 2019-05-09
Insurance Nexus's latest infographic reveals the viewpoints of 450+ senior claims executives on the future of this vital function, and how can companies embark on a journey of transformation that leads to vital market share.
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| On the move |
Nikolaus von BOMHARD is the new Chairman of the Supervisory Board of Munich Re
by press.release, 2019-05-06
On April 30th, during the constituent meeting of the new Supervisory Board of Munich Re, Nikolaus von BOMHARD (62) was elected as Chairman of the Supervisory Board. Anne HORSTMANN (49) was elected as Deputy Chair of the Supervisory Board.
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TURKEY: Can Akin CAGLAR steps down as CEO of EUREKO Sigorta
by Andrei Victor, 2019-05-08
Dutch insurer ACHMEA announced that Can Akin CAGLAR has decided to step down from his position as CEO of EUREKO Sigorta, Achmea's subsidiary in Turkey, as per the 10th of May 2019. He held this position for the past five years.
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Giulia RAFFO appointed Head of Investor & Rating Agency Relations of GENERALI
by press.release, 2019-05-08
As from 1 May 2019, Giulia RAFFO is appointed as Head of Investor & Rating Agency Relations, directly reporting to the General Manager, Frederic de COURTOIS.
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Jean-Jacques HENCHOZ takes over HANNOVER Re's CEO position from Ulrich WALLIN
by Andrei Victor, 2019-05-09
German reinsurer HANNVER Re informed in a statement that the Annual General Meeting approved by a large majority all proposed resolutions put to the vote, including the appointment of Jean-Jacques HENCHOZ as Chief Executive Officer (CEO).
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GUY CARPENTER announced senior appointments in light of MMC acquisition of JLT
by Andrei Victor, 2019-05-09
Reinsurance broker GUY CARPENTER announced a series of international leadership appointments - following the Jardine Lloyd Thompson Group plc (JLT) acquisition.
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