News - Insurance

RUSSIA: in May, INGOSSTRAKH ranked 1st on the MTPL market

According to the Russian Association of Motor Insurers, in May 2019 INGOSSTRAKH became the MTPL leader in terms of number of policies and GWP, while AlfaStrakhovanie held the leading positions for the period from January to May, ASN reports.

Banco Santander to acquire 60% stake in ALLIANZ Popular SL

ALLIANZ Group and Banco Santander settled an agreement for Banco Santander to buy a 60% stake in Allianz Popular SL, and terminate the exclusive non-life distribution agreement with ALLIANZ's operating entity in Spain.

ESTONIA: 13,000 property insurance events annually

According to The Estonian Insurance Association (EKsL), 13,000 property claims arise over the course of an average year in Estonia. Of this number, about 11,000 are home insurance claims. Insurance companies in Estonia pay around EUR 28 million every year for property claims.

RUSSIA: S&P upgraded SOGAZ to 'BBB', outlook stable

S&P Global Ratings raised its long-term issuer credit and financial strength ratings of SOGAZ to 'BBB', outlook stable, removing them from CreditWatch with developing implications, as the insurer informed on its website with reference to the agency's report.

BULGARIA: ABI appointed new Board of Directors

During its annual meeting, held June 19, 2019, the Association of Bulgarian Insurers (ABI) adopted a program for the following year and elected a new board, led by Konstantin VELEV as Deputy Chairman.

Acceleration of public-private collaboration is needed to close the protection gap

At the IDF Day held last week in Singapore during the annual Global Insurance Forum hosted by the International Insurance Society (IIS), the Insurance Development Forum (IDF) called to accelerate public-private collaboration and action in order to close the protection gap that leaves Emerging Asian countries most vulnerable to natural catastrophes.

TOP EVENT: IIS Global Insurance Forum, Day 3

The 3rd day (21 June) of the Global Insurance Forum is organized in partnership by IIS - International Insurance Society and IDF - Insurance Development Forum, and is focused on the protection gap and building resilience.

TOP EVENT: IIS Global Insurance Forum, Day 2

The 55th edition of Global Insurance Forum, organized by IIS - International Insurance Society and The Institutes continues today with insightful discussions about the future of the insurance, the cyber threats and the impact of AI.

STATISTICS: ROMANIA, 1Q2019: Market GWP increased by 5% y-o-y

At the end of 31 March 2019, Romanian insurance market grew by EUR 27 million (+5.0%) y-o-y in terms of gross written premiums (GWP). In local currency, the premium growth was slightly higher (+7.4%), as Financial Supervisory Authority (ASF) figures show.