CROATIA: February 2019 GWP increased by +5.76% y-o-y
In February 2019 total GWP value in Croatia reached HRK 1,818,336,162 (EUR 245 million), an increase of HRK 129,584,639 (+5.76%) compared to February 2018. Non-life GWP represented 76.51%, while Life classes reached a 23.49% share.
SAVA finalised the aquisition of the two Croation units of ERGO
Zavarovalnica SAVA, part of Slovenian re/insurance group SAVA Re, announced it has finalised the aquisition of the two Croatian units of the German insurance group ERGO, part of MUNICH Re: ERGO osiguranje and ERGO zivotno osiguranje.
GRAWE Hrvatska: Natasa KAPETANOVIC to be the new President of the Management Board
After almost 20 years in the positions of member and President of the GRAWE Hrvatska Management Board, Igor PURETA will leave the company at the expiration of his mandate, on April 2. He will be replaced by Natasa KAPETANOVIC, member of the Management Board since 2010.
Davor TOMASKOVIC takes over CROATIA insurance
CROATIA Osiguranje's Supervisory Board appointed, on 30 January, Davor TOMASKOVIC as a member of the Management Board. Upon completion of the prescribed procedure and regulatory approvals, the Supervisory Board will appoint Davor TOMASKOVIC as President of the company's Board.
Ante ZIGMAN (HANFA) was elected as member of EIOPA Madiation Panel
Ante Zigman, the President of Management Board from HANFA (Croatian Financial Services Supervisory Agency) was elected as member of EIOPA Mediation Panel. The Mediation Panel is responsible to mediate and resolve in an impartial manner the disputes between national competent authorities.
STATISTICS: CROATIA: Insurance market maintained its growth by the end of 2018
The gross written premiums of Croatian insurers totaled HRK 9.9 billion (EUR 1.3 billion) last year, up by 8.8% y-o-y, official figures show. The highest contribution to this positive evolution came from the life insurance segment and from the motor insurance lines.
ERGO's Croatian subsidiaries change of ownership got the official approval
SAVA Re was granted the Croatian Financial Services Supervisory Agency's approval for the direct acquisition of the control ownership package (over 50%) of the Croatian subsidiaries of ERGO, namely ERGO Insurance and ERGO Life Insurance, both domiciled in Zagreb.
CROATIA osiguranje gives up acquisition agreements in Bosnia & Herzegovina
CROATIA osiguranje (CO) has announced on 23 January that both agreements concluded in June last year, to acquire through its Bosnian subsidiary the full ownership of the Bosnian Testing Center LLC and the CENTRAL INSURANCE company, are canceled.
STATISTICS: CROATIA timeline 2008 - 2017: the MTPL prices liberalization was the event with the highest impact on the market evolution
Between 2008 and 2017, the Croatian insurance market saw an 8% decrease in business, in GWP terms. From an absolute value of EUR 1.32 billion recorded in 2008, GWP at the overall market level gradually decreased year by year, until 2015, when the market started to grow again. The positive trend seen in 2016 and 2017 was not strong enough to bring the market at the pre-crisis level.
Slaven DOBRIC elected as the new President of the Croatian Insurance Bureau
The Croatian Insurance Bureau (HUO) has a new management since December 10. Slaven DOBRIC, member of the Management Board of Allianz Zagreb dd and HUO's ex Deputy Chairman, was elected as President. Hrvoje PAUKOVIC was re-appointed Director of HUO for a new mandate.
ON THE MOVE
Bulgaria: Boiko ATANASSOV appointed as FSC's head
The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.
RUSSIA: Alexander ZARETSKI steps down from the presidency at METLIFE
On April 1, 2019, Alexander ZARETSKI will step down from his presidency of METLIFE. According to the Company's Board of Directors, this decision was made for personal reasons. Gheorghe DIMITRU will take over as president, ASN wrote.
TALANX announced finalization of generational renewal at Board level
The German insurer TALANX announced the Supervisory Board has completed the generational shift at Board level.
New appointments within SCOR Global P&C; Michel BLANC is the new CEO of Reinsurance
In Reinsurance, SCOR Global P&C announces the following appointments, effective April 1, 2019:
ASIROM VIG names Wolfgang HAJEK new CFO
Romania-based ASIROM, part of Vienna Insurance Group (VIG), has appointed Wolfgang HAJEK as the new CFO.
Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9
10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.
Conclusions: TBILISI - the first Georgian International Insurance Conference
The first Georgian International Insurance Conference took place on 14 March 2019. The event 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 was 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.