BELARUS: market growth in January 2019 exceeded 16% y-o-y
In January 2019, local market GWP amounted to BYN 123.8 million (+16.4% y-o-y), according to market figures published by the Ministry of Finance of the Republic.
BELARUS: IMKLIVA Insurance received a gold medal as the Brand of the Year 2018
Insurance company IMKLIVA was awarded a gold medal and Grand-Prix at the Brand of the Year 2018 competition, as the Belarusian Association of Insurers informed.
BELARUS: FITCH confirmed sovereign credit rating of Belarus at 'B' level, outlook stable
International rating agency FITCH Ratings on January 18, 2019 confirmed tong-term and short-term sovereign credit ratings of Belarus for obligations in foreign and national currency at 'B' level, outlook stable.
BELARUS: GWP growth for Jan-Nov 2018 amounted to almost 17% y-o-y, while paid claims' share in total premiums remained unchanged
For January-November in 2018 GWP of the Belarusian insurers amounted to BYN 1.1 billion, at that y-o-y growth of GWP reached 16.7%, according to the data, published by the Ministry of finance of the Republic.
BELARUS: market share of voluntary insurance for 10 months went up to almost 60% y-o-y
For January-October 2018 GWP of the local insurers amounted to BYN 1.01 billion. Growth rate reached 16.7%, according to the data, published by the Ministry of finance of Belarus.
STATISTICS: BELARUS, 3Q2018: paid claims amounted to almost half of the total market GWP
Insurers of Belarus for 3 quarters in 2018 generated GWP in the amount of BYN 906.62 million (EUR 369.49 million). The market growth in local currency reached 16.1% and in euro the growth was less impressive - by 9.49% only.
BELARUS: GWP growth rates remain above the 15% threshold
For 8 months this year insurers of Belarus generated GWP in the amount of BYN 804.9 million. At that growth rates remain above the 15% threshold, according to the data, published by the Ministry of Finance.
BELARUS: GWP y-o-y growth for January-July exceeded 15%
For the period of January-July 2018 Belarusian insurers generated BYN 705.2 million* of GWP (direct insurance and co-insurance). Annual growth of premiums (compared to the same period in 2017) amounted to 15.2%, as reported by the Ministry of Finance of the Republic.
STATISTICS: BELARUS, 1H 2018 result: life paid claims saw significantly rapid growth y-o-y by 107.17%
In the first half year GWP of Belarusian insurers amounted to BYN 607.18 million (EUR 262.37 million), 15.68% more than a year ago. At that non-life segment, accounting for over 90% of the market, grew by 15.89%, according to the Ministry of Finance.
BELARUS: FITCH Ratings confirmed sovereign credit rating of Belarus at B level with stable forecast
The Rating agency FITCH Ratings on July 20, 2018 confirmed long-term and short-term sovereign credit ratings of Belarus on foreign and local currency obligations at the B level with stable forecast.
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.