VIG's Baltic unit SEESAM Insurance AS - 10% GWP increase in 3Q
Estonian non-life insurer SEESAM, one of last entered players in the VIG family, raised its GWP in the Baltic states by 10% y-o-y, to EUR 54.1 million, informs LETA, quoting Dace ZITMANE, marketing manager at the Latvian branch of the company.
STATISTICS: ESTONIA, 1H: Insurers reported impressive rates across all LoB
Estonian insurers reported H1 2018 GWP of EUR 243 million, almost 17% more compared with January-June 2017, according to the market figures published by the Estonian National Statistics Board.
ESTONIA: Government plans to support risk management in organic farming by subsidizing insurance premiums
As part of a Governmental plan to support organic farming, Estonian farmers involved in this segment will benefit starting 2019 from a 70% contribution of the State to the premiums paid by farmers in crop insurance, livestock and plant insurance, if the Ministry of Rural Affairs proposal will be approved.
STATISTICS: ESTONIA Q1: The insurance market expanded by more than a quarter
Estonian insurers reported in Q1 2018 GWP of EUR 125.7 million, representing an 26.1% y-o-y increase, according to the quarterly figures published by the Estonian National Statistics Board.
STATISTICS: ESTONIA, FY2017: Non-life business pushed the market growth-rate in the "double digit area"
Estonian insurers reported aggregate FY2017 GWP of EUR 427.3 million, up by 10.1% y-o-y, according to the market figures revealed on the website of the Estonian National Statistics Board.
STATISTICS: ESTONIA, 3Q: The two motor segments generate about half of the insurance market
Estonian insurance market totaled EUR 315 million at the end of September 2017, up by 10.6% y-o-y, according to quarterly market figures published by the Estonian National Statistics Board.
Estonia to adopt the Insurance Distribution Directive
At the end of October, the Estonian Parliament passed a bill of amendments to the Insurance Activities Act initiated by the government, according to which the European Union's Insurance Distribution Directive (IDD) will be adopted, informs LETA/BNS, quoted by The Baltic Course.
STATISTICS: ESTONIAN market posted H1 impressive growth rates across all main subclasses
Estonian insurers reported H1 2017 GWP of EUR 207.8 million, 9.5% more compared with January-June 2016, according to the market figures published by the Estonian National Statistics Board.
STATISTICS: ESTONIA: GWP up to EUR 100 million in Q1 2017
Estonian insurers reported in Q1 2017 GWP of EUR 99.7 million, up 8.6% y-o-y, according to the quarterly figures published by the Estonian National Statistics Board.
STATISTICS: ESTONIA, FY2016: Non-life lines saw the best results, driving up the market results
Insurers operating on the Estonian market reported total GWP of EUR 388 million for the financial year 2016, up by 7.4% y-o-y, according to the market data published by the Estonian National Statistics Board. The value of life GWP increased by 3.9% y-o-y, to EUR 85.7 million (22.1% of the total market), while Estonian general insurers posted GWP of EUR 302.3 million, 8.5% more y-o-y.
ON THE MOVE
ERGO Group to reduce its Management Board and appoint new CUO
The Supervisory Board of ERGO Group AG voted to reduce the size of the Board of Management of ERGO Group AG with effect from January 1, 2019. Thus, in the future, the Board of Management will comprise of only five members.
CHUBB appoints new Division President in Bermuda
CHUBB has appointed Judy GONSALVES as Vice President of CHUBB Group and Division President of Bermuda.
AON establishes New Ventures Group and appoints Chief Innovation Officer
AON has announced that it is taking another significant step to realize the full potential of its AON United growth strategy by establishing a New Ventures Group and assigning a team of proven senior leaders to further accelerate the creation of new value sources for its clients.
The "Croatian Insurance Days" take place in Opatija, Croatia
The most important annual meeting of the Croatian insurers, the "Croatian Insurance Days", started today in Opatija, Croatia.
Reducing the risks in agriculture by using insurance means, discussed in Skopje
On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.
IIF 2018 - Insurance in a DIGITAL WORLD
Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.
VIDEO: MUNICH Re: We have the duty to find solutions for cyber risks, which are a threat at the global level
Becoming a growing threat globally, cyber risks is both a challenge and an opportunity for the insurance industry. MUNICH Re's representatives talked to XPRIMM TV in Baden Baden, about the different approach to this type of risk that the Group, as one of the most active players on the cyber market solutions, proposes.
Willis Towers Watson: reinsurance products backed by 'alternative' capital have become mainstream
End investors, Insurance-Linked Securities (ILS) funds, and buyers - the three groups active in ILS - have predominantly weathered 2017 loss activity with a view that reinsurance products backed by 'alternative' capital have become mainstream, according to a new Global ILS Market Survey by Willis Towers Watson.
Swiss Re expects the reinsurance industry to further consolidate
Swiss Re expects the global reinsurance industry to consolidate as the distinction between insurers and reinsurers become increasingly blurred, an executive from the Swiss Group said in Baden Baden, reports Reuters.
NASH, Guy Carpenter: The current pressure on returns is a stimulus for consolidation
Current market conditions are putting increasing pressure on returns with some companies viewing consolidation as a potential solution, James NASH, CEO of International at Guy Carpenter said in his opening remarks at the Baden-Baden 2018 Reinsurance Meeting hosted by the global risk and reinsurance specialist.
Hannover Re expects modestly higher premiums and stable conditions for its German business
E+S Ruckversicherung AG, the Hannover Re Group's unit handling German business, continues to expect a positive premium development in the German market for the January 2019 renewals, albeit at a somewhat more diminished pace than in 2018.
Insurance Market and Regulatory Developments in the Western Balkan Countries - Challenges and Perspectives
15 November 2018, 18.00 hours
House of Finance, Frankfurt, Germany
For details: http://www.icir.de
November Business Meetings (NBM) for Reinsurers
21-22 November 2018
"Novaya Ploschad" Business Center, Moscow, Russia
Organizer: The All-Russian Insurance Association (ARIA)
Media Partner: XPRIMM Publications
For details: ins-df.com
5 - 6 December 2018
Excel London, UK
Media Partner: XPRIMM Publications
For details: fintechconnect.com
IFRS 9 After Implementation In-House Training
Date, venue & schedule - chosen by the applicants
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details: glceurope.com