CROATIA's Adris gets regulatory approval for HUP-Zagreb buyout
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Croatian insurers reported for 1H2018 GWP worth EUR 729.43 million, 9.6% up y-o-y. Paid claims amounted to EUR 375.18 million, 12% up y-o-y. Most of the market growth was provided by the non-life segment, especially the motor insurance lines.
CROATIA osiguranje Group (CO Group), one of the largest insurer in the Adriatic region announced in the Zagreb Stock Exchange website it will merge its credit unit through absorption- CROATIA osiguranje kredita into CROATIA osiguranje.
CROATIA Osiguranje announced on the Zagreb Stock Exchange website that during the first five months of the year, the value of CO Group GWP increased by 8% y-o-y.
The Croatian insurance market ended 1Q2018 with GWP worth EUR 373.26 million, 7.38% up y-o-y. The highest contributions to the market growth, in absolute terms, came from the traditional life insurance line and both motor insurance classes.
The Croatian Financial Services Supervisory Agency (HANFA) approved today the merger of the Croatian subsidiary of Vienna Insurance Group (VIG), Wiener Insurance, with Erste VIG, in accordance with the Merger Agreement dated 6 February 2018, the authority's website reads.
Slovenia's largest insurance group - TRIGLAV said it is buying a majority stake in RAIFFEISEN Bank's Croatian pension business, RAIFFEISEN Mirovinsko osiguravajuce drustvo.
Slovenian insurer Zavarovalnica SAVA, part of insurance group SAVA Re, announced it will acquire the two Croatian subsidiaries of the German insurance group ERGO.
The aggregate GWP of Croatian insurers increased to HRK 9.05 billion (EUR 1.20 billion) in 2017, up by 3.38% y-o-y, as official data show.
RENOMIA - one of the largest corporate and EB insurance broker in CEE Region announced it has acquired a stake in the Croatian broker DPS International.
Croatia tops a list of 33 European countries in terms of the impact of economic losses from natural disasters on the country's GDP between 1980 - 2015 but lags behind when it comes about the insured losses, Total Croatia News reports.
Turkish reinsurer MILLI Re stated that Gokhan AKTAS has been appointed to the position of Manager of Foreign Inward Business on 01 September 2018.
JLT Re announced that Martin BLACKWELL will be joining JLT Re as a Partner, capital solutions, next month.
On September 13, 2018, the Insurance Supervision Agency of Ljubljana organized its 4th conference on insurance. The subject of the event was Insurance in the Digital Future. Visit the event's web page to see the conference materials and photo gallery.
The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.
Only 5% of cyber losses are insured, estimates Christian Fuhrmann, chief executive of global clients/North America, Munich Re. Very complex by nature and continuously changing, cyber insurance is one of the biggest challenges for insurers, he said.
AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions.
The latest editions of the XPRIMM Motor Insurance Report and Property Insurance Report will be launched in Monte Carlo, at the 62th edition of the "Rendez-Vous de Septembre," one of the most important international events dedicated to insurers, reinsurers, brokers, and reinsurance consultants.
Hannover Re expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019 and promising opportunities for next year arising from digitalization, increased demand for coverage of cyber risks, as well as from various openings in the Asian growth markets.
Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.
Catastrophe risk modeling firm AIR Worldwide released a new severe thunderstorm model for Europe. Together with AIR's Extratropical Cyclone Model for Europe and European flood models, this new model now allows for a comprehensive assessment of atmospheric risk in this region.