STATISTICS: ALBANIA 3Q2018: motor insurance lines' market weight increased to nearly 70%
Albanian insurers have reported GWP worth EUR 98.7 million (ALL 12.46 billion) in 3Q2018, up by 9.73% y-o-y. For the same period, paid claims have decreased by 3.12% y-o-y, to EUR 26.86 million. The local subsidiaries of the Austrian group UNIQA lead both the life and non-life insurance segments.
STATISTICS: ALBANIA, 1H2018: domestic mandatory motor TPL insurance reins the market, increasing its weight by 2 pp
The about 5% appreciation of the Albanian Lek against EURO has favored the market results denominated in European currency, showing a higher growth rate than in local currency. Thus, in EUR, GWP increased overall by 9.43%, to EUR 61.2 million.
Albania: Insurance market on positive track after the first five months of the year
GWP written for the first five months (January to May) 2018 by Albanian insurers amounted to over ALL 6,277 million, or 3.01% more y-o-y, while the number of related insurance contracts reached to 462,260 with an increase of 7.30% y-o-y, Albanian FSA data show.
STATISTICS: ALBANIA, 1Q2018: Slight increase in GWP and number of policies
The Albanian insurance market reached over ALL 3.55 billion (EUR 27.2 million) during Q1 2018, or 2.53% more y-o-y, according to the quarterly statistics published by the local Financial Supervisory Authority.
STATISTICS: Albania, 2017: UNIQA units have the largest market share on all major business lines
The Albanian insurance industry amounted over ALL 16.19 billion (~EUR 122 million) at the end of 2017, or 5.38% y-o-y. During the analysed period, the number of issued insurance contracts reached 1,261,238 showing an increase of 11.99 % compared to year 2016.
Albania takes steps to improve households' and businesses' insurance coverage against floods
Albania will undertake a legal initiative to insure households and businesses from floods, the country's Prime Minister Edi Rama announced on Manday, reads xinhuanet.com.
STATISTICS: ALBANIA 3Q2017: Double-digit increase in GWP, claims and the number of issued contracts
Albanian insurance market totaled EUR 90 million (ALL 12 billion) at the end of September 2017, a nominal growth rate in European currency of about 14.5%.
Albania: the Competition Commission authorized the sale of INSIG Life
Albanian Competition Commission said it has approved the sale and transfer of 90% shares of the life insurer INSIG Jete (INSIG Life), from local insurer EUROSIG to two local businessmen: Shefqet KASTRATI and Samir MANE.
STATISTICS: ALBANIA, 1H2017: Double-digit increase for the number of issued contracts
The Albanian insurance market reached over ALL 7,415 million (EUR 56 million) during the period January - June 2017, or 12.03% more compared with 1H2016, the Financial Supervisory Authority informed.
STATISTICS: ALBANIAN insurers' Q1 GWP up by 17.6% y-o-y
The Albanian insurance market reached over ALL 3.45 billion (EUR 25.4 million) during Q1 2017, or 17.62% more y-o-y, according to the quarterly statistics published by the local Financial Supervisory Authority.
ON THE MOVE
Andrej SLAPAR reappointed the President of the Management Board of Zavarovalnica TRIGLAV for another five years term
The Supervisory Board of Zavarovalnica TRIGLAV reappointed the President of the Management Board of Zavarovalnica TRIGLAV Andrej SLAPAR for a new five-year term of office and approved the proposal submitted by the President of the Management Board, reappointing Uros IVANC and Tadej COROLI as Members of the Management Board.
IGI appoints its first Chief Technology Officer
International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.
BEAZLEY's CUO to join Lloyd's of London Board in February 2019
Lloyd's, the specialist insurance and reinsurance market announced that Neil MAIDMENT has been appointed as an independent non-executive of the Lloyd's Board with effect from February 2019.
The "Croatian Insurance Days" took place in Opatija, Croatia
The most important annual meeting of the Croatian insurers, the "Croatian Insurance Days", took place in Opatija, Croatia, on 7 - 9 November.
Reducing the risks in agriculture by using insurance means, discussed in Skopje
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.
IIF 2018 - Insurance in a DIGITAL WORLD
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.
VIDEO: MUNICH Re: We have the duty to find solutions for cyber risks, which are a threat at the global level
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.
Willis Towers Watson: reinsurance products backed by 'alternative' capital have become mainstream
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 reinsurance industry to further consolidate
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.
NASH, Guy Carpenter: The current pressure on returns is a stimulus for consolidation
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.
Hannover Re expects modestly higher premiums and stable conditions for its German business
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.
November Business Meetings (NBM) for Reinsurers
21-22 November 2018
"Novaya Ploschad" Business Center, Moscow, Russia
Organizer: The All-Russian Insurance Association (ARIA)
Media Partner: XPRIMM Publications
For details: ins-df.com
5 - 6 December 2018
Excel London, UK
Media Partner: XPRIMM Publications
For details: fintechconnect.com
IFRS 9 After Implementation In-House Training
Date, venue & schedule - chosen by the applicants
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details: glceurope.com