Hungarian insurance market totaled HUF 862.20 billion (EUR 2.66 billion) at the end of Q3 2019, 10.97% more y-o-y, official statistics showed. In terms of damages, the value of incurred claims (paid claims and reserves, summed-up) amounted to HUF 312.95 billion for life insurance contracts (+10.72% y-o-y) and HUF 198.45 billion for non-life policies, +13.96 more y-o-y.
The Czech Republic insurance maket reported a nine months growth rate in premiums of 5.64% y-o-y to CZK 102.86 billion (or EUR 3.98 billion), according to the end-September 2019 market statistics published on the local professional association website.
The Cypriote insurance market increased by 4.66% y-o-y at the end of 3Q2019 according to the data published by The Insurance Association of Cyprus - IAC, amounting to a figure over EUR 678.55 million in GWP.
From January to October 2019, GWP of the voluntary Health insurance increased by almost AZN 10 million (~EUR 5.27 million), Motor Hull increased by about 20%, while Life insurance, on the contrary, decreased by almost 40% y-o-y, and these trends will continue, said Azer ALIYEV.
According to the Motor Transport Bureau of Ukraine (MTIBU), for the first 9 months of this year, the total number of Green Card policies increased by 43.2% y-o-y and reached almost 842 thousand units, Forinsurer reports.
Latest news available show the group of bidders interested by the sale of the leading Greek insurance company Ethniki to five: the Chinese group Fosun, the investment funds CVC Capital Partners, Centerbridge and Lone Star, and a special purpose vehicle called I3CP, which is associated with Leadenhall Capital Partners.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Colonnade Insurance S.A. (Luxembourg), a member of Fairfax Financial Holdings Limited (Fairfax). The outlook of these Credit Ratings (ratings) is stable.
According to the market results for 9 months of 2019, the total number of agents of ROSGOSSTRAKH company grew by almost 41% y-o-y, which allowed the company to regain its first place on the market in terms of total number of individual agents, ASN reports.
As the data of the Bank of Russia show, from January to September 2019, MTPL GWP amounted to RUB 154 billion (~EUR 2.18 billion), which is 6.7% less y-o-y. Paid claims exceeded RUB 103.1 billion (~EUR 1.46 billion), ASN reports.
According to the Belarusian Association of Insurers, from January to September 2019, local insurers paid almost BYN 9 million (~USD 4.5 million) for insurance against accidents and illnesses during travelling abroad, which is 23% more y-o-y, said the association in its press release.
The Insurance Supervesion Agency of Slovenia authorised the merger of local players Zavarovalnica GENERALI and ADRIATIC SLOVENICA, with the procedure to be finalised with the entry into the court register, expectedly at the beginning of 2020, local media wrote.
The Board of the Financial Supervisory Authority (ASF) announced the results of the unannounced control carried out at the non-life insuer CertAsig Asigurare Reasigurare, sanctioning the company with a fine in the amount of RON 65,000 (about EUR 13,500) on the grounds the company have not corectly calculated the solvency indicators requested by the market regulator, informed 1asig.ro.
GENERALI announced as of 10 December 2019 Antonella MAIER and Andrej BUKOVCAN are becoming new members of the Executive Committee of Prague-based GENERALI CEE Holding B.V. Antonella MAIER will become Chief Insurance Officer for Life and Health Business in Austria, CEE & Russia Region, while Andrej BUKOVCAN will take the position of ExCo Member, remaining responsible for HR & Organization for the whole Region.
At the beginning of December 2019, Croatian Insurance Bureau (HUO) and Croatian Vehicle Center (CVH) announced the launch of a digitalization project regarding motor third party liability (MTPL) insurance policies.
Turkey's banks and financial institutions bought 85.05% of JCR Eurasia, the local unit of Japan Credit Rating Agency, Turkey's banking association announced last Friday, sealing the Turkey's longtime goal to create a national firm that will appraise the creditworthiness of businesses seeking to borrow, informed REUTERS.
Global Parametrics (GP), the provider of parametric protection against climate risks in developing markets and the German Federal Ministry for Economic Cooperation and Development (BMZ), in partnership with the German Development Bank (KfW) and reinsurer HANNOVER Re jointly announce the formation of the Natural Disaster Fund (NDF) Deutschland. NDF will invest in risk transfer instruments relating to natural catastrophes and climate risks in developing markets.
GENERALI, through the Argentinian subsidiary La Caja, stipulated a distribution agreement in Argentina with Mercado Libre, the biggest e-commerce operator in South America in order to distribute non-life insurance.
Klime POPOSKI has left his position as President of the Council of Experts at the Insurance Supervision Agency of Macedonia, at the expiry of his second mandate. The Parliament of the North Macedonia should soon announce a new appointment.
Swiss Re announced today an agreement to sell its subsidiary ReAssure Group plc to Phoenix Group Holdings plc.
On November 5, 2019, CCR announced the appointment of Sebastien JALLET as Chief Investment Officer.