WATFORD Insurance has announced its intention to enter the Romanian insurance market
WATFORD Insurance today announced its intention to establish a branch to launch insurance operations in Romania, focusing mainly on the MTPL and ancillary insurance products sale, but other retail products such as residential property insurance may also be offered.
Romania, a key-market for VIG
Romania is a key-market for VIG, the Austrian group taking the commitment to be a long-term investor on the local insurance market, the VIENNA Insurance Group representatives stated on Monday, December 4th, during a press conference.
ATRADIUS enters Romanian and Bulgarian markets
ATRADIUS - the second largest provider of credit insurance in the world, announced it expanded its international presence with two new locations in Bulgaria and Romania, as a part of the company's global expansion strategy.
Romania should stay the course - funded private pensions the key to sustainable future, PensionsEurope warns
After the Romanian government has decided to cut the contributions to pillar II to 3.75% (instead of raising to 6% from the actual 5.1% as mentioned in the initial draft bill), people in Romania are now facing a significant risk of suffering a decrease in their future retirement income, PensionsEurope warns.
Romania: Reducing the contribution for second pension pillar will lead to a significant decrease of the pension's value for a high number of participants - AURSF
AURSF - The Association of Romanian Financial Services Users warns about the consequences of reducing the contributions for the second pension pillar, the action leading to a significant decrease of the pension's value for an extremely high number of participants.
Romanian ASF approved the merger between BCR Asigurari de Viata and AXA Life Insurance
The Romanian Financial Supervisory Authority's Board (ASF) announced it approved the merger operation by which BCR Asigurari de Viata VIG (the second largest life insurer in the country), will absorb AXA Life Insurance, as well as the portfolio transfer as a result of the merger.
STATISTICS: ROMANIA, 1H2017: insurance market maintained its growth momentum
Romanian insurers reported a total GPW of RON 5.04 billion (about EUR 1.10 billion), up 8.02% y-o-y, in 1H2017, according to data published by ASF, the market maintaining its growth momentum.
STATISTICS: ROMANIA: GWP of EUR 567 million and a new market leader
Romanian insurance market totaled RON 2.56 billion (EUR 567 million) at the end of March 2017, up by 8.2% y-o-y, according to the quarterly market data published by the ASF.
EUROINS Romania got regulatory approval to acquire the non-life portfolio of ATE Insurance
Romanian insurer EUROINS, part of Bulgarian-based EUROINS Insurance Group (EIG), will acquire the non-life insurance portfolio of ATE Insurance Romania, a PIRAEUS Bank unit, after Romania's ASF approved the transfer on July 4th 2017.
Anna GRZELONSKA is the new CEO of NN Life Insurance Romania
Anna GRZELONSKA, currently COO of Nationale-Nederlanden in Poland, has been appointed as CEO of NN Life Insurance Romania. She succeeds Marius POPESCU, who was appointed as CEO of NN Hayat ve Emeklilik.
ON THE MOVE
Industry veteran David LUNDGREN to head InsurTech Pioneer Quantemplate
David LUNDGREN has been appointed CEO and Board Director of Quantemplate, an InsurTech firm which uses machine learning to help re/insurers grow their business through data transformation and analytical insights.
Swiss Re appoints new CFO and proposes new members to the BoD
Swiss Re announced that John DACEY, currently Group Chief Strategy Officer, is appointed Group Chief Financial Officer, effective 1 April 2018. He succeeds to David COLE, who will step down to pursue a non-executive career, while remaining a board member of several Swiss Re subsidiaries.
Piotr OZAREK is the PZU's first Ombudsman
Piotr OZAREK was appointed to perform the newly established function within PZU, as the first client's spokesperson of the insurer. His main task will be of helping in the most difficult and complicated cases in which PZU's clients are not satisfied with the solution.
Desmond BOHAN joins JLT Re as Senior Vice President
JLT Re, part of the global provider of reinsurance broking and consultancy, has appointed Desmond BOHAN as Senior Vice President in Stamford, Connecticut. He will focus on the continued expansion and development of JLT Re's Program practice in North America.
"Insurance and Pensions reloaded" - the 7th EIOPA Annual Conference
The 7th EIOPA Annual Conference takes place today in Frankfurt am Main, Germany. A review of the current supervisory covergence issues and of the prospects of the Pan European Personal Pension Product are on the event's agenda, together with analyzing the ways in which regulation may enable innovation.
NBMR, Moscow: Regulatory changes have challenged the Russian insurance market in 2017
"The Russian insurance market is ending a difficult year," Igor ALEKSEEV, Chairman of the Steering Committee of November Business Meetings of Reinsurers, Deputy Head of the Reinsurance Department, INGOSSTRAKH said today in Moscow.
"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna
"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.
Croatian Insurance Days Live
On 9 November has started in Opatija, Croatia, the 2017 edition of the Croatian Insurance Days Conference, the traditional meeting of the Croatian insurance top professionals with their European peers. XPRIMM Publications are supporting the event as Media Partners.
The 2017 Baden Baden Meeting: Short recap
The Baden-Baden meeting, one of the key events in the reinsurance calendar, has just set the final point of this year's edition. XPRIMM Publications have reported from the meeting's premises. Let's recap!
Baden Baden Headlines 3: CEE insurance markets are attractive for reinsurers
Central and Eastern Europe insurance markets are an important source of business for Lloyds, total premium income from this region increasing by EUR 64 million since 2010, pointed out the Lloyd's representative in a seminar dedicated to CEE insurance markets: "We are seeing strong growth from Czech Rep, Poland, Slovakia and Ukraine. At the same time are some contractions from Russia, Bulgaria, Romania and Hungary due to challenging trading conditions as political implications and other sanctions".
Baden Baden Headlines 2: cyber insurance market set to grow under regulatory presure; nat cat events more frequent, but losses per event are decreasing
Asian insurance market, especially the Indian market - are considered to be "the new El-Dorado" of the global re/insurance market, with rapidly expanding markets and an dynamic environment: "Indian P&C re/insurance markets are expected to grow at a pace of 15% per annum", according to Victor PEIGNET, CEO, Global P&C, SCOR SE. The French -based reinsurer setted-up its Indian branch in 2016, after the authorisation from the local market authority - IRDAI. India's re/insurance market has become more attractive for global companies following the relaxation of regulatory requirements, and lately, "big names" in the industry entered the market by opening branches: GEN Re, SCOR, Lloyd's of London, MUNICH Re, SWISS Re, Reinsurance Group of America (RGA), HANNOVER Re, XL Catlin and others.
JLT Re: Harvey, Irma and Maria brought a decisive end to a five-year period of below-average global catastrophe losses
"2017 looks set to become the most expensive catastrophe loss year ever for the P&C sector, mostly due to the hyperactive 2017 hurricane season," finds the Viewpoint Report - Winds of change launched yesterday by JLT Re.
5th Insurance Claims & Underwriting Management Asia Summit 2018
6-9 February 2018
Singapore, Rendezvous Hotel Singapore
Organizer: Equip Global Pte Ltd
Media Partner: XPRIMM Publications
More details: equip-global.com
6th Edition Nordic Asset Allocation: Investing in Alternative Asset Classes
7-9 March 2018
Organizer: marcus evans
Media Partner: XPRIMM Publications
For details: marcusevans-conferences-paneuropean.com
European Consumer Protection Conference
22 March 2018
Prague, Czech Republic
4th Annual African Insurance Forum
5-6 April 2018
Johannesburg, South Africa
Media partner: XPRIMM Publications
For details: ins.fextons.com