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.
CROATIA osiguranje, best insurer in 2018 according to the Croatian Chamber of Economy
CROATIA osiguranje is the 2018 winner of the "Zlatna Kuna" award in the insurance industry, a recognition of the relevant role played by the company in the local financial market, presented by the Croatian Chamber of Economy.
STATISTICS: Croatia, 3Q: Positive trend, supported by the traditional life insurance and the motor insurance lines
The Croatian insurance market totaled after the first three quarters of 2018 GWP worth EUR 1.02 billion, 10.8% up y-o-y. Paid claims have increased y-o-y by 13%, to EUR 539.7 million. Top 3 insurers account together for over 52% of the market GWP.
CROATIA osiguranje to absorb its credit insurance unit
The Central Depository and Clearing Company - SKDD announced that Croatia Osiguranje absorbed its credit insurance unit unit Croatia Osiguranje Kredita. "The corporate action of Acquisition of the Companies will be executed on 1 October 2018", as the institution announced in a statement.
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.