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Preview of XPRIMM Insurance Report 1H2020 discussed at XPRIMM Time for Business in a new international edition
by Alexandra GUZUN, 2020-10-22
One week before the official launch of the autumn edition of XPRIMM Insurance Report, the readers were offered a preview of the main conclusions of the report, commented by the special guests of the XPRIMM TIME for BUSINESS show: Prof. Karel Van HULLE from KU Leuven and Goethe University Frankfurt and Prof. Klime POPOSKI, Insurance department of St. Kliment Ohridski University, Macedonia.
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Insurance Europe: EC should make European Long-Term Investment Funds more attractive to long-term institutional investors
by Cosmin CONCEATU, 2020-10-21
Insurance Europe has published its response to an inception impact assessment conducted by the European Commission on the revision of the European Long-Term Investment Funds (ELTIF) Regulation. The Commission's objective in developing ELTIFs is to attract investment from institutional and private investors to increase the amount of private finance available for European companies.
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Aon: Year-end 2019 global premiums stood at an all-time high of USD 5.6 trillion
by Cosmin CONCEATU, 2020-10-21
Aon has launched the 15th edition of its annual Insurance Risk Study, which provides data-driven analyses of the global insurance industry by business line and by region. The Study reviews the industry's performance in 2019 - providing data on premium and capital levels - evaluates areas of growth and profitability, and of potential risk.
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AM Best affirmed Triglav's Financial Strength Rating and Long-Term Issuer Credit Rating
by Cosmin CONCEATU, 2020-10-21
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Zavarovalnica Triglav d.d. (Triglav), the operating holding company of the Triglav group, and Pozavarovalnica Triglav Re, d.d. Ljubljana (Triglav Re), a wholly owned subsidiary of Triglav.
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AM Best affirms A-level credit ratings of SAVE Re, outlook stable
by Andrei Victor, 2020-10-19
Slovenian SAVA Re announced the rating agency AM Best affirmed the financial strength rating of the company of "A" (Excellent) and its long-term issuer credit rating of "a", both with a stable outlook.
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AXA has completed the sell of last CEE operations to UNIQA for EUR 1.0 billion
by Andrei Victor, 2020-10-19
French insurer AXA it has completed the sale of its Life & Savings, Property & Casualty and Pension businesses in Poland, Czech Republic and Slovakia to Austrian UNIQA Insurance Group, for a total cash consideration of EUR 1.0 billion.
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GC launches new unit to provide dedicated MGA business solutions
by Andrei Victor, 2020-10-19
GUY CARPENTER, the reinsurance broker of MARSH & MCLENNAN Companies, announced the launch of a new business unit GC ACCESS to provide dedicated MGA program business solutions.
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Swiss Re and Daimler to launch new mobility insurance business
by Andrei Victor, 2020-10-19
Swiss Re and DAIMLER Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new company called MOVINX.
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Mario CARINI, GENERALI: This year we are focused on strengthening our footprint on the Croatian market
by Andrei Victor, 2020-10-20
Mario CARINI, CEO and President of the Management Board of GENERALI business units in Croatia pointed out in an interview - published on GENERALI CEE website given for Svijet osiguranje - all the turbulent challenges that marked the Croatian insurance market since its appointment in December 2019.
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Employer medical benefit costs to more than triple the rate of inflation globally in 2021
by Andrei Victor, 2020-10-19
The costs of employer medical benefits across the world are forecasted to rise 7.2% in 2021, outpacing general inflation by 5.0%, according to the "2021 Global Medical Trend Rates Report" released by AON
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GREECE: The ETHNIKI investor to include in contract a target clause
by Andrei Victor, 2020-10-20
National Bank of Greece is in advanced talks with CVC Capital Partners about the sale of ETHNIKI Insurance - the largest insurance company in Greece. The value of the transaction of sale of 80% of Greek insurer - mentioned by media is around EUR 460-480 million.
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AZERBAIJAN: a license issued to the United Agricultural Insurance Company
by Marina MAGNAVAL, 2020-10-20
The United Agricultural Insurance Company received a license to carry out insurance activities. The license was issued by the Central Bank of Azerbaijan, as Trend said with reference to the Azerbaijani Agricultural Insurance Fund.
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AZERBAIJAN: Amrah Sigorta to be liquidated
by Marina MAGNAVAL, 2020-10-20
The insurance company Amrah Sigorta, which according to 1H2020 results ranked 17th in the Azeri market among 21 active companies, will stop its activity, as Trend reports.
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BELARUS: ASOBA - an improved version of BELKOOPSTRAKH
by Marina MAGNAVAL, 2020-10-16
BELKOOPSTRAKH insurance company, ranking 6th in the non-life market of Belarus among 13 insurers (based on 1H2020 results), had rebranding and ASOBA appeared on the market, "Insurance in Belarus" wrote.
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KAZAKHSTAN: Fitch: Kazakhmys Insurance's IFS affirmed at 'BB-', Outlook Negative
by Marina MAGNAVAL, 2020-10-20
Fitch Ratings has affirmed Insurer Financial Strength (IFS) Rating at 'BB-' and National IFS at 'BBB+(kaz)' (outlooks negative) of the Kazakhmys Insurance Company (Kazakhstan), according to the agency's report, published on October 16.
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KAZAKHSTAN: almost half of the compulsory employee accident insurance GWP comes from two life insurers
by Marina MAGNAVAL, 2020-10-20
Almost half of the premiums under compulsory employee accident insurance in Kazakhstan from January to August 2020 were collected by two companies - NOMAD Life and HALYK-Life, allinsurance.kz reported.
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RUSSIA: SBERBANK Insurance became a laureate of the XI annual award "Consumer Rights and Quality of Service"
by Marina MAGNAVAL, 2020-10-22
SBERBANK Insurance became a laureate of the XI annual award "Consumer rights and quality of service" as it has been nominated in the category "For the high quality of services provided in property insurance", the insurer said in its press release.
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RUSSIA: SBERBANK life insurance: every 5th consumer borrower insures against job loss
by Marina MAGNAVAL, 2020-10-20
Since the beginning of 2020, about 2.5 million of Sberbank's customers have applied for Sberbank life insurance program when concluding a consumer lending agreement, and 20% of them included insurance against involuntary job loss as an additional option, the insurer informed in its press release.
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RUSSIA: the Annual Forum of the leaders of the insurance market: remote products and digital challenges, to be held on October 29
by press.release, 2020-10-22
The sixth annual Forum of insurance market leaders, the largest event in the insurance sector, will take place on October 29, 2020. Top management, shareholders of insurance companies, representatives of regulatory authorities, specialized associations and development institutions will discuss the trends of the insurance market, give forecast of its development.
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RUSSIA: SBERBANK Insurance is celebrating six years of successful work on the market
by Marina MAGNAVAL, 2020-10-16
In October, six years have passed since SBERBANK Insurance received a license to perform insurance activities. During this time, the company has demonstrated dynamic development and has become a leader in insurance of property of individuals, the insurer said in its press release.
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RUSSIA: Expert RA: by the end of 2020, the market will drop by 4-5% y-o-y
by Marina MAGNAVAL, 2020-10-16
The insurance market will continue to be under pressure of the economic downturn caused by COVID-19, and the market volume by the end of 2020 will reach approximately RUB 1.42 trillion (~EUR 15.65 billion*), having lost 4-5% of GWP, according to the study of the Russian leading rating agency Expert RA.
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UKRAINE: new tariffs for Green Card policies to be effective from October 19
by Marina MAGNAVAL, 2020-10-20
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) introduces new tariffs for Green Card insurance for travelling abroad by car, effective from October 19, OPEN4BUSINESS.COM.UA informed with reference to the Bureau.
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UKRAINE: for 9 months MTIBU paid over UAH 12 million from the Victim protection fund to the victims of road traffic accidents
by Marina MAGNAVAL, 2020-10-22
From January to September 2020, the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) paid UAH 12.2 million (~EUR 0.36 million*) from the Victim protection fund to the victims of road traffic accidents-clients of bankrupt insurers, as MTIBU said in its press release.
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UKRAINE: TAS insurance group sets a new sales record
by Marina MAGNAVAL, 2020-10-16
TAS insurance group again set a sales record - GWP volume exceeded UAH 1.5 billion (~EUR 45.41 million*) as of October 7, 2020, Forinsurer writes.
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UZBEKISTAN: new company entered the market - ARIA SUG'URTA TASHKILOTI
by Marina MAGNAVAL, 2020-10-16
The insurance market of Uzbekistan got a new insurer - ARIA SUG'URTA TASHKILOTI has received a license to carry out voluntary insurance in 17 classes of general insurance, UzReport wrote.
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Munich Re: COVID-19 pandemic serves as a stark reminder for low-probability risks that bear tremendous loss potential
by Cosmin CONCEATU, 2020-10-21
Following years of eroding rates caused by excess capacities and low major-loss expenditure, particularly in European markets, low interest rates - likely to remain even lower for even longer due to the coronavirus pandemic - are impacting the profitability of reinsurers, Munich Re said.
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COVID-19 claims notifications outweigh reduced activity during lockdown
by Andrei Victor, 2020-10-19
The coronavirus pandemic and resulting lockdowns have had a significant impact on commercial and specialty lines of insurance, both in terms of claims volumes and financial impact, according to the Report "Covid-19: Changing claims pattern", released by AGCS - the corporate insurance carrier of ALLIANZ Group.
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POLAND: PZU provides 200 life-bands to hospitals in the fight against coronavirus
by Cosmin CONCEATU, 2020-10-21
PZU will provide another 200 so-called life bands to hospitals that treat patients with COVID-19. The first such devices were delivered to institutions in May. The life band is an innovative solution on a global scale that analyzes the key vital parameters of patients and alerts medical staff in the event of a life threatening situation.
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Lloyd's of London makes GBP 12 million charitable donations in response to Covid-19
by Andrei Victor, 2020-10-19
Lloyd's of London announced it has made charitable donations totaling GBP 12 million to 197 charities worldwide, to support customers and communities - in response to the global spread of COVID-19.
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