Insurance company Xalq Hayat Sigorta was registered on November 23 and has applied to Azerbaijan's Financial Market Supervisory Authority (FIMSA) for obtaining an insurance license, the news agency Trend wrote.

GWP of Azerbaijani insurance companies in January-October 2018 amounted to AZN 617.2 million (+33.4% y-o-y), according to the report of Azerbaijan's Financial Market Supervisory Authority (FIMSA).

According to the Chairman of the Azerbaijan Insurers Association (AIA) Mustafa ABBASBAYLI, MTPL on the Azeri insurance market is reaching its peak, Trend News Agency informed.

Azerbaijani QALA Insurance plans to collect AZN 16 million in premiums by the end of 2018, which would mean a 54.1% y-o-y growth, Deputy Chairman of the company Taleh YUSIFOV said recently, quoted by Trend.

Nationwide introduction of compulsory health insurance in Azerbaijan was postponed from 2019 to 2020, reports the Analytical and Information agency FINEKO and ABC.AZ.

For 9 months this year the Azeri market generated GWP up by 37.21% y-o-y, thus overcoming the figure of the last full year of AZN 500 million (AZN 568.54 million), as the data, published by the Financial Market Supervisory Authority of Azerbaijan (FIMSA) show.

The Azeri insurance market will undergo changes that lead to a decrease in premiums on certain types of insurance next year, said Chairman of the Azerbaijan Insurers Association (AIA) Mustafa ABBASBAYLI. Agro insurance and insurance against accidents at work may contribute to market development.

On October 5, 2018, the rating agency S&P affirmed "B/B" long- and short-term foreign and local currency sovereign credit ratings on Belarus with a stable outlook, as the Finance Ministry of the Republic announced.

According to Ibrahim ALISHOV, executive director of the Azerbaijan Financial Market Supervisory Authority (FIMSA), GWP on the Azeri market in 2018 may exceed last year's figure.

For the period of January-August, Azeri insurers' GWP amounted to AZN 516.924 million (+40.1% y-o-y), as the financial market supervisory authority reported. Paid claims reached AZN 168.582 million (+0.9%).

The most important annual meeting of the Croatian insurers, the "Croatian Insurance Days", took place in Opatija, Croatia, on 7 - 9 November.

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

Becoming a growing threat globally, cyber risks is both a challenge and an opportunity for the insurance industry. MUNICH Re's representatives talked to XPRIMM TV in Baden Baden, about the different approach to this type of risk that the Group, as one of the most active players on the cyber market solutions, proposes.

End investors, Insurance-Linked Securities (ILS) funds, and buyers - the three groups active in ILS - have predominantly weathered 2017 loss activity with a view that reinsurance products backed by 'alternative' capital have become mainstream, according to a new Global ILS Market Survey by Willis Towers Watson.

Swiss Re expects the global reinsurance industry to consolidate as the distinction between insurers and reinsurers become increasingly blurred, an executive from the Swiss Group said in Baden Baden, reports Reuters.

Current market conditions are putting increasing pressure on returns with some companies viewing consolidation as a potential solution, James NASH, CEO of International at Guy Carpenter said in his opening remarks at the Baden-Baden 2018 Reinsurance Meeting hosted by the global risk and reinsurance specialist.

E+S Ruckversicherung AG, the Hannover Re Group's unit handling German business, continues to expect a positive premium development in the German market for the January 2019 renewals, albeit at a somewhat more diminished pace than in 2018.

The market volume for cyber insurance is expected to grow up to USD 8-9 billion by 2020, Doris HOEPKE, member of Munich Re's Board of Management stressed in Baden Baden adding that, "The demand for cyber risk cover is growing continuously. We therefore see it as our duty to develop solutions."