Bulgaria: Protests, traffic jams and blockades against high fuel tariffs, car taxes and MTPL premium
Thousands of Bulgarians protested last weekend in over 20 cities by blocking major highways and roads against higher fuel prices, tax increases for older, more polluting cars and an expected increase in MTPL premiums.
"Costly" times are coming for Bulgarian drivers
Bulgarian insurance market" authority - FSC recently published a draft ordinance regarding the MTPL tariffs for MTPL policies, wrote local media.
Bulgaria: VIG to increase its participation in Bulstrad after TBI liquidation
The Bulgarian Financial Supervision Commission - FSC announced that it has allowed Vienna Insurance Group (VIG) to increase its direct shareholding in Bulstrad Vienna Insurance Group, following the liquidation of its fully-owned subsidiary TBI Bulgaria.
The distribution partnership between ALLIANZ and UniCredit comes alive in Bulgaria
Allianz Bulgaria has officially started its distribution agreement with UniCredit Bulbank. Thus, since the beginning of October the life and property insurance products of Allianz will be available at the UniCredit Bulbank's counters across Bulgaria.
STATISTICS: BULGARIA, 1H2018: LEV INS overtook BULSTRAD - VIG, becoming the non-life insurance market leader
In the first half of 2018, the Bulgarian insurance market maintained a growth rhythm close to that established during the previous year, reporting a 7.9% y-o-y increase in GWP, to EUR 627.5 million.
Cyprus based Olympic Insurance bankruptcy left 200,000 Bulgarian clients without MTPL insurance policies and beheaded the insurance market watchdog
Ralitsa AGAIN-GURI, deputy head of the Bulgarian Financial Supervision Commission (FSC) resigned in the wake of the Olympic insurance company bankruptcy scandal. Vladimir SAVOV, a FSC member, will temporary take over her tasks until a new appointment will be approved by the Parliament.
STATISTICS: BULGARIA 1Q 2018: GWP up to more than EUR 300 million
The total GWP by Bulgarian insurers in 1Q 2018 was BGN 608.07 million (EUR 310.90 million), up by 6.28% y-o-y, according to the quarterly statistics published on the FSC's website.
BULGARIA: The leasing arm of ARMEEC to acquire ERB Leasing
Bulgaria's ARMEEC Leasing, part of local insurer ARMEEC, intends to acquire the Bulgarian unit of ERB Leasing, part of Greece's Eurobank group.
Bulgaria: Bonus-Malus system one step closer to implementation
Ernst & Young, the Bulgarian Financial Supervision Commission's consultant on the bonus-malus system introduction for the MTPL insurance has submitted its final report, presenting no less than 11 possible scenarios for the system's design.
BULGARIA: Agricultural insurance co-financing scheme to receive extra funding
According to a recent decision of the Bulgarian State Fund Agriculture, the budget state aid scheme for agricultural insurance premiums co-financing will be increased by BGN 700,000 in 2018, to BGN 2.2 million (EUR 1.12 million), Novinite reports.
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