BELARUS: market growth in January 2019 exceeded 16% y-o-y
In January 2019, local market GWP amounted to BYN 123.8 million (+16.4% y-o-y), according to market figures published by the Ministry of Finance of the Republic.
BELARUS: IMKLIVA Insurance received a gold medal as the Brand of the Year 2018
Insurance company IMKLIVA was awarded a gold medal and Grand-Prix at the Brand of the Year 2018 competition, as the Belarusian Association of Insurers informed.
BELARUS: FITCH confirmed sovereign credit rating of Belarus at 'B' level, outlook stable
International rating agency FITCH Ratings on January 18, 2019 confirmed tong-term and short-term sovereign credit ratings of Belarus for obligations in foreign and national currency at 'B' level, outlook stable.
BELARUS: GWP growth for Jan-Nov 2018 amounted to almost 17% y-o-y, while paid claims' share in total premiums remained unchanged
For January-November in 2018 GWP of the Belarusian insurers amounted to BYN 1.1 billion, at that y-o-y growth of GWP reached 16.7%, according to the data, published by the Ministry of finance of the Republic.
BELARUS: market share of voluntary insurance for 10 months went up to almost 60% y-o-y
For January-October 2018 GWP of the local insurers amounted to BYN 1.01 billion. Growth rate reached 16.7%, according to the data, published by the Ministry of finance of Belarus.
STATISTICS: BELARUS, 3Q2018: paid claims amounted to almost half of the total market GWP
Insurers of Belarus for 3 quarters in 2018 generated GWP in the amount of BYN 906.62 million (EUR 369.49 million). The market growth in local currency reached 16.1% and in euro the growth was less impressive - by 9.49% only.
BELARUS: GWP growth rates remain above the 15% threshold
For 8 months this year insurers of Belarus generated GWP in the amount of BYN 804.9 million. At that growth rates remain above the 15% threshold, according to the data, published by the Ministry of Finance.
BELARUS: GWP y-o-y growth for January-July exceeded 15%
For the period of January-July 2018 Belarusian insurers generated BYN 705.2 million* of GWP (direct insurance and co-insurance). Annual growth of premiums (compared to the same period in 2017) amounted to 15.2%, as reported by the Ministry of Finance of the Republic.
STATISTICS: BELARUS, 1H 2018 result: life paid claims saw significantly rapid growth y-o-y by 107.17%
In the first half year GWP of Belarusian insurers amounted to BYN 607.18 million (EUR 262.37 million), 15.68% more than a year ago. At that non-life segment, accounting for over 90% of the market, grew by 15.89%, according to the Ministry of Finance.
BELARUS: FITCH Ratings confirmed sovereign credit rating of Belarus at B level with stable forecast
The Rating agency FITCH Ratings on July 20, 2018 confirmed long-term and short-term sovereign credit ratings of Belarus on foreign and local currency obligations at the B level with stable forecast.
ON THE MOVE
GENERALI Group results for year 2018
In 2018, GENERALI Group operating result reached EUR 4,857 million (+3.0%), with a net profit of EUR 2,309 mil. (+9.4%). The total gross written premiums (GWP) of the Group amounted EUR 66,691 mil. (+4.9%).
Mark HILES left MARSH to join WTW's CEEMEA management team
Willis Towers Watson one of the largest re/insurance broker in the world announced it named Mark HILES as Head of Power and Utilities for the Central and Eastern Europe, Middle East and Africa (CEEMEA) region.
MetLife announced leadership changes as part of CEO transition
MetLife announced a series of changes to its senior leadership ranks in connection with its CEO transition, all of which are effective May 1, 2019. In January 2019, the BoD announced that Michel KHALAF, President, U.S. Business and EMEA, will become MetLife's President, CEO and Member of the Board effective May 1, replacing Steven KANDARIAN, who is retiring.
LLOYD's named Hayley SPINK as Head of Global Operations
LLOYD's aanounced the appointment of Hayley SPINK as Head of Global Operations. She takes over from Joe DAINTY, who leaves LLOYD's in March to join DXC.
HANNOVER RE launches an insurtech innovation platform
Germany-based Hannover Re launched a platform designed to bring the insurance companies and insurtech innovators closer. Through the "hr | equarium" platform, Hannover Re wants to facilitate the connection between supply and the demand for insurtech solutions, taking advantage of its worldwide spread.
Conclusions: TBILISI - the first Georgian International Insurance Conference
Today takes place in Tbilisi the first Georgian International Insurance Conference, an event that will put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system is the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.
Did you book your seat at one of the key European events dedicated to property and cyber insurance?
Climate risks have always produced high impact events, causing material and human losses that often have remained in collective memory as reference points. On the other hand, cyber risks are just emerging, but they are already demonstrating a potentially catastrophic impact which still needs to be better understood and assessed.
Motor insurance - becoming more financially efficient and consumer friendly
Under the strong pressure put by the technological evolution, the motor insurance business is rapidly changing, both in operational terms and, most visible, in the way insurers are interacting with their customers. Step by step, the insurers' relationship with customers evolves from simply indemnifying insureds for the losses suffered because of road incidents, to helping them prevent incidents and rapidly recover after the accidents that couldn't be avoided.