AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of Kazakhstan, JSC (Halyk-Life) (Kazakhstan).
On February 20, 2020, S&P Global Ratings revised UNIQA Insurance Group CreditWatch as a result of the planned internal restructuring and the potential shift in UNIQA's financial risk profile, as a result of the purchase over AXA CEE's subsidiaries.
NN officially announced its entrance in the Hungarian non-life insurance market. The company plans to offer three non-life types of products which will widen its product portfolio.
AXA announced the appointment of Scott Gunter as CEO of AXA XL. He will replace Greg Hendrick, who has decided to pursue other opportunities outside the Group.
The Board of the Financial Supervisory Authority (ASF) has decided, during the meeting on 19.02.2020, to withdraw the operating authorisation of the company CERTASIG Societate de Asigurare si Reasigurare S.A (CERTASIG), due to the fact that the company did not restored the level of eligible own funds covering the minimum capital requirement (MCR) within the term provided by law, wrote Romanian insurance portal 1asig.ro
ALLIANZ informed in a statement that Axel THEIS (62), Member of the Board of ALLIANZ SE responsible for insurance in German-speaking countries and Central and Eastern Europe, retires at his own request on March 31, 2020 after more than 33 years at ALLIANZ. Klaus-Peter ROHLER (55), currently Chairman of the Board of Management of ALLIANZ Deutschland AG and ALLIANZ Versicherungs-AG, has been appointed by the Supervisory Board as his successor effective April 1, 2020.
The Financial Supervisory Authority of Romania (ASF) and the European Insurance and Occupational Pensions Authority (EIOPA) announced their intention to launch an independent assessment of the Romanian insurance sector through a balance sheet review.
After years of discussions and innovation, where are motor insurance markets standing today in IoT / telematics terms? Marijan MUMDZIEV, CEO of AMODO, the Croatian insurtech that has been listed among the top five insuretech startups in the world by the Financial Times, will assess the current situation and share his views with regard the future developments at the motor conference in Vienna, on 6 April.
Matteo CARBONE, Founder and Director, IoT Insurance Observatory and one of the top insurtech influencers will give the Keynote Speech at IIF 2020 - PROPERTY INSURANCE - in a connected world, on 7 April, in Vienna.
Sabine, the powerful winter storm battered Europe last week, cost German insurers a grand total of EUR 675 million, from 540,000 insured losses, the German Insurers Association said.
Aleksandra AGATOWSKA, a current member of the management board of PZU Zycie, was appointed by the company's Supervisory Board to be the President of the Management Board.
Swiss Re announced its full-year 2019 results. The figures show a net income at the end of the year amounting USD 727 million, which is 73% more year-on-year
The preliminary market figures submitted by Macedonian ISA to XPRIMM.com, indicate that at the end of 2019 the local insurance industry totaled MKD 10.58 billion (EUR 172 million), up by 6.61% y-o-y.
The insurance market of Kosovo totaled EUR 101.5 million at the end of 2019, 8.5% more y-o-y, according to data provided by the Central Bank (CBK).
Albanian insurance market reached over ALL 17.6 billion (EUR 145 million) during year 2019, or 4.11% more y-o-y, according to the market figures published on the AFSA's website.
At the end of 2019, for 12 months ended, UNIQA Group scored a consolidated net income of EUR 232 million, 4.5% lower, driven by higher share of non-controlling interest. Earnings before taxes grew 0.4% to EUR 296 million at the end of 2019.
For year 2019, AXA insurance group reported a net income of EUR 3.9 billion, 80% higher year-on-year on a reported basis.
The Ministry of Finance and the Central Bank developed and submitted to the government a document providing the sale conditions of SBERBANK shares, owned by the Bank of Russia, which will help to avoid a conflict of interests due to combining the roles of the regulator, shareholder and supervisor, the ministry said.
Experts predict a 5% decrease of MTPL GWP in 2020 due to the new regulation and stagnation of the motor insurance market, one of the latest Deloitte study over Russia mentions.
According to the statistics of the Estonian Motor Insurance Bureau (LKF), in 2019, the average annual premium for motor third party liability (MTPL) insurance was EUR 134, decreasing by EUR 8 (-5%) year-on-year.