STATISTICS: BiH, 1H2018: solid business growth despite challenging legal inconsistencies
The Bosnian market saw a consolidated GWP growth rate of 4% y-o-y in 1H2018, to EUR 183.5 million. Of this total, the non-life insurance segment accounts for by far the largest part with over 80%. Moreover, the MTPL insurance class provides for a clear half of the total GWP volume.
BiH: GRAWE buys ATOS Osiguranje for EUR 12 million, increasing its market weight to over 11%
Austrian insurer GRAWE has increased its presence on the Bosnian specialty market by acquiring the local insurer ATOS Osiguranje, former "Bobar osiguranje, for a total consideration of just over KM 23 million (~ EUR 12 million), the local financial press reports.
STATISTICS: BiH, 1Q2018: MTPL business keeps the market on a positive trend
Bosnian insurers reported aggregate 1Q2018 GWP of BAM 167.07 million (~EUR 85.4 million), up by 2.45% y-o-y, according to the most recent market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.
A.M. Best Affirms Credit Ratings of Bosna Reosiguranje d.d. Sarajevo
A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Bosna Reosiguranje d.d. Sarajevo (Bosna Re) (Bosnia and Herzegovina [BH]). The outlook of these Credit Ratings (ratings) remains stable.
Bosnia: GRAWE osiguranje finalized the absorption of non-life insurer VGT osiguranje
The Bosnian subsidiary of Austrian insurer GRAWE (GRAWE osiguranje) finalized the absorption of local non-life insurer VGT osiguranje, according to the latest registered operations by RVP - The Registry of Securities of the Federation Bosnia and Herzegovina.
Bosnia: Gradual liberalization of the MTPL market in FBiH approved by the House of Representatives
The House of Representatives of the Parliament of FBiH, one of the two administrative entities that form Bosnia & Herzegovina has approved this week the new law on compulsory MTPL, taking thus a big step towards the a free MTPL market.
STATISTICS: BOSNIA, FY2017: The share of RS insurers exceeds 30%
Last year, the aggregate GWP of the 27 Bosnian insurers increased by 7.77% y-o-y to BAM 683.23 million (EUR 349.33 million), as data from the local insurance agency - AZOBIH show.
BOSNIA: Bosna Sunce Osiguranje takes steps to acquire Zovko Osiguranje
According to the Bosnian national competition authority, insurer Bosna Sunce Osiguranje has filed a request to acquire a majority shareholding interest in its local peer Zovko Osiguranje, SeeNews reports.
STATISTICS: BiH, 3Q2017: Three insurers with close results. Who will be the market leader at the end of 2017?
The 27 Bosnian insurers reported aggregate 3Q2017 GWP of BAM 518.2 million (~EUR 265 million), up by 8.1% y-o-y, according to the most recent market figures published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.
STATISTICS: Bosnia, 1H2017: Insurers based in Srpska Rep. increased their share to about one third of the market
The insurance market of Bosnia and Herzegovina continued its ascending path during the first half of 2017, recording a 8.9% increase in GWP, to EUR 176.4 million.
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.