RUSSIA: profit of ROSGOSSTRAKH, according to the preliminary data, in 2018 amounted to RUB 6 billion
Based on the preliminary data, in 2018 profit of ROSGOSSTRAKH for the first time during the last 3 years amounted to RUB 6 billion.
RUSSIA: RESO-Garantia acquires the Russian non-life insurer of ERGO Group
RESO-Garantia acquires 100% of ERGO (a subsidiary non-life insurer of ERGO Group AG in Russia) from ERGO International AG, as ASN wrote.
RUSSIA: rating of VSK-Life line confirmed at ruA+
The national rating agency Expert-RA confirmed the rating of VSK-Life line at ruA+, outlook stable, as ASN wrote.
RUSSIA: in 2018 MTPL accounted for 81.5% of the total volume of complaints against insurers
According to the Bank of Russia, for the first time in the last few years the market has seen a decrease in the number of complaints from consumers of financial services, which was mainly due to a sharp reduction in complaints against MTPL in 2018 by 43.1%.
RUSSIA: ROSGOSSTRAKH to merge ERGO Life and RGS Life Insurance
ROSGOSSTRAKH has announced its decision to merge life insurers - ERGO Life and RGS Life Insurance, according to the information on the insurer's website, published on January 31.
RUSSIA: MTPL GWP in 2018 remained unchanged y-o-y, while paid claims dropped by 21% as the preliminary data show
In 2018 the total number of MTPL policies increased by 2%, according to the preliminary data, however, GWP of the class remained at the level of 2017, as ASN informed.
RUSSIA: RNRC paid the biggest loss in the history of military cargo insurance in the country
Total amount of the insurance indemnity paid by the Russian National Reinsurance Company (RNRC) for the damaged military cargo already reached RUB 3.5 billion (~EUR 46 million)*, which makes this loss the biggest and unique in the whole history of military cargo insurance in the country, as ASN wrote.
RUSSIA: national rating of SBERBANK Insurance confirmed at ruAA+
The national rating agency Expert RA confirmed the rating of SBERBANK Insurance at ruAA+, at that the outlook was changed from stable to positive, reports ASN.
RUSSIA: Ekaterina TROFIMOVA released from the position of the General Director of ACRA
On January 17, 2019 the ACRA Board of directors, based on the statement of Ekaterina TROFIMOVA, decided to release her from the position of the General Director of the agency, as ACRA announced.
RUSSIA: FITCH removed VSK from the Rating Watch Negative
The international rating agency FITCH removed the financial stability rating of VSK from the list of Rating Watch Negative (RWN), where it was placed in July 2018, as well as confirmed the company's rating at BB-, outlook negative, as reported by ASN.
ON THE MOVE
AON appoints Lambros LAMBROU as global CEO of Commercial Risk Solutions
Global re/insurance broker AON has named veteran AON leader, Lambros LAMBROU as Global Chief Executive Officer (CEO) of its Commercial Risk Solutions division.
Peter CLARKE named VP & COO of FAIRFAX
FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.
ERGO Group appoints a Polish manager
Adam ROMAN, board member of Ergo Hestia (Poland), will hold the position of Head of Global P&C of the ERGO group, effective 1 March. His tasks will include supervision over property insurance of the group in the areas of underwriting, actuarial and pricing, as well as reinsurance.
Jad ARISS appointed Secretary General of The Geneva Association
Jad ARISS, currently Group Head of Public Affairs and Corporate Responsibility with AXA, has been appointed Secretary General of The Geneva Association, effective 1 March 2019.
TURKMENISTAN: new General Director of the State insurance organization appointed
Guvanch NURMUKHAMMEDOV has been appointed as the new General Director of the State insurance organization, the single insurance institute of Turkmenistan, as the State information agency of Turkmenistan wrote.
Inclusive Insurance - a creative solution to narrow the protection gap in the emerging markets of the Southeastern Europe
Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.
Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna
Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.
FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee
To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.