News - Insurance
Don’t miss the International Conference on Insurance Claims, on 29 May
Which part of the insurers' activities is more important when customers need to assess the quality of services they receive? Doubtless, the settlement of claims seems the correct answer. The International Conference on Insurance Claims, to take place in Bucharest, on 29 May will address the main aspects related to claims management processes.
16 May 202410 days to the opening of the 25th edition of FIAR; registration online still open
The 25th edition of FIAR – the International Insurance-Reinsurance Forum will take place in Bucharest, at the Sheraton Hotel, between 26-28 May. The four conferences hosted by FIAR will offer fresh information on topics of great interest, as well as exciting networking opportunities.
16 May 2024HUNGARY: new legal provisions concerning the micromobility devices’ MTPL insurance provisions will apply starting July
The range of vehicles that must have mandatory MTPL insurance in Hungary will expand. This requirement will apply to the affected parties starting from July 16, 2024. The Association of Hungarian Insurance Companies (MABISZ) provided the basic details on the regulatory change.
16 May 2024Czechia: 10 insurance companies have already joined the "right to be forgotten" standard for oncology patients
Ten insurance companies have already voluntarily signed up to the self-regulatory standard set up by the Czech Association of Insurance Companies (CAP) in November 2023 regarding equal access to persons who have experienced cancer.
16 May 2024Mimoza Kaçi is the new General Executive Director of the Albanian FSA
The Assembly of Albania approved in April the appointment of Mrs. Mimoza Kaçi, member of the Board of the Financial Supervision Authority, in the position of General Executive Director.
16 May 2024Zurich Group, 1Q 2024: strong performance; impressive results for Farmers
Zurich Insurance Group (Zurich) delivered a strong performance in the first three months of 2024, continuing to profitably grow the top line and maintaining the positive momentum built on the record results achieved in 2023.
16 May 2024Swiss Re, Q1 2024: IFRS net income of USD 1.1 billion thanks to underwriting discipline and strong investment income
Swiss Re posted a net income of USD 1.1 billion for the first quarter of 2024. The result benefited from underwriting discipline and strong investment income. Swiss Re is reporting its results under IFRS for the first time after transitioning from US GAAP as of 1 January 2024.
16 May 2024STATISTICS: ARMENIA, 1Q2024: GWP decreased by 19%, while paid claims jumped by 42%
At the end of 1Q2024, the insurance sector of Armenia recorded a GWP decrease by 19.10% to AMD 19.26 billion, according to the data of the Financial Rating of Insurance Companies provided by ArmInfo. It’s interesting that in euros the decline was approximately the same (-19.44%, EUR 45.43 million).
15 May 2024STATISTICS: KYRGYZSTAN, 1Q2024: Paid claims jumped by almost 98% y-o-y
The insurance sector of Kyrgyzstan at the end of 1Q2024 grew by 14.60%, reaching KGS 804.60 million (EUR 8.34 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.
15 May 2024Adris grupa announced the payment of dividend in the amount of EUR 2.57 per share
Croatian conglometate Adris grupa - grupa with business in tourism, food production and insurance (the owner of Croatia osiguranje Group - one of the largest insurers in Adriatic region) announced the payment of dividend in the amount of EUR 2.57 per share
14 May 2024Hannover Re AGM approves dividend increase and appointment of new Supervisory Board members
German reinsurer Hannover Re informed that the Annual General Meeting approved the proposal of the Executive Board and Supervisory Board to pay a total dividend of EUR 7.20 (previous year: EUR 6.00) per share for the 2023 financial year, an increase of 20% compared to the previous year.
14 May 2024ARMENIA: net profit in 1Q declines by 73%
In 1Q2024, the net profit of the Armenian insurance sector decreased by 73% y-o-y (vs an increase of 41.2% a year ago). Experts note that this was impacted by an increase in paid claims and a decline in premiums, while a year earlier they saw growth, ArmInfo reports.
14 May 2024BULGARIA: The annual awards for 2023 to be presented on May 21
For the sixteenth consecutive year, the most prestigious annual awards in the insurance and pension insurance sector in Bulgaria will be presented - "Insurer of the Year", "Pension Insurance Company of the Year", "Insurance Broker of the Year", ABZ (Association of Bulgarian Insurers) announced.
14 May 2024CROATIA: The gross profit of Allianz Hrvatska exceeded EUR 24 million last year
The gross profit of Allianz Hrvatska (the Croatian unit of German insurer Allianz) reached a record-high EUR 24.2 million last year, which means an increase of EUR 5.6 million compared to 2022, thanks to growing profitability of its non-life and life insurance operations, SeeNews reports.
14 May 2024POLAND: Generali Polska receives awards as a friendly and responsible employer
Once again, Generali Polska received the title of "Friendly Workplace", and was also included in the Forbes "Best Employer" ranking. Previously, Generali was recognized by Home and Market magazine as a Responsible Employer, the insurer said on its website.
14 May 2024UKRAINE: in 1Q2024 TAS ranks first on the market in terms of paid claims
In 1Q2024, the TAS group, which is one of the top-3 market leaders, increased its sales by 45.7% y-o-y, to UAH 961.21 million (~EUR 22.72 million), Forinsurer writes.
14 May 2024UZBEKISTAN: Regulations on the procedure for applying penalties to insurers approved
Uzbekistan has approved the Regulations on the procedure for applying penalties to insurers to ensure implementation of the Resolution of the President “On comprehensive measures for further development of the insurance market”, the National Agency for Prospective Projects of Uzbekistan (NAPP) reports.
14 May 2024Talanx Group posted Q1 net income of EUR 572 million while the dividend increased to EUR 2.35 per share
German insurance group Talanx AG informed that its General Meeting approved all resolutions proposed by the Board of Management and Supervisory Board, including the proposal on the appropriation of the distributable profit, by a very large majority. Thus, shareholders voted to increase the dividend per share by 35 cents (roughly 18 percent) to EUR 2.35.
14 May 2024BMS Re strengthens MGA business ProLink Solutions with six hires
BMS Re, the specialty reinsurance arm of the global broking group BMS, announced the appointment of six new hires to its dedicated MGA business, ProLink Solutions (“ProLink”). Previously, the ProLink team consisted of 15 individuals. The current appointments are increasing the team's capacity to support raising demand for their expertise.
9 May 2024GDV: Costs of fraudulent claims is increasing, in line with the increasing benefits in P&C insurance
German insurers expect significantly more losses from insurance fraud, reaching over EUR 6 billion. While the share of suspected cases in all claims reports remains unchanged, at about 10%, claims inflation is pushing the absolute figures up.
9 May 2024
