The Belgium's KBC Group and OTP Bank, the Hungarian parent company of OTP Banka Slovensko (Slovakia), reached agreement for KBC to acquire ownership of 99.44% of the shares in OTP Banka Slovensko, a mid-sized Slovakian bank focusing on retail, micro SME and SME customers. The remaining shares are held by a number of private individuals.
Last year, the Traffic Police sanctioned more than 12 thousand drivers without MTPL insurance, according to the the figures submitted to the portal 1asig.ro
by IGPR - The General Inspectorate of the Romanian Police.
Last year, the Romanian insurance market advanced by 8% y-o-y in GWP to about RON 11 billion (EUR 2.25 billion), according to Cristian ROSU, Vice President, Insurance - Reinsurance Sector, ASF.
The Board of the Romanian Financial Supervisory Authority (ASF) decided to amend EUROINS Romania with RON 500,000 (more than EUR 100,000), as a result of violation of some provisions of MTPL Law as the procedures for solving the MTPL claim files, deficiencies regarding the internal control mechanisms at the company level, irregularities regarding the establishment of technical reserves and data quality, as the market authority annunce in a statement.
According to the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), in 2019 over UAH 212 million (~EUR 8 million) were paid to road traffic accidents victims from the MTIBU guarantee funds. The total number of claims paid increased by 20.1%, while their amount went up 30.2%.
NN Group's operating result increased by 24.9% to EUR 428 million in the fourth quarter of 2019, driven by higher operating results at almost all segments and reflecting a total of EUR 20 million of non-recurring benefits.
Fairfax Financial Holdings Limited announced fiscal year 2019 net earnings of USD 2,004 million compared to fiscal year 2018 net earnings of USD 376 million, primarily reflecting net gains on investments.
David BARANYAI, currently CSO NN Hungary, has been appointed CEO NN Insurance Hungary on an ad interim basis, subject to regulatory approval. The appointment is effective as of 17 February 2020.
AIR Worldwide estimates insured losses for winter storm Ciara-Sabine will be between EUR 1.1 Billion and EUR 1.9 Billion, while RMS sets the upper limit to EUR 1.8 billion. Both agree also that Germany, France, and the United Kingdom are the areas most affected.
Zurich Insurance Group (Zurich) announced a net income of USD 4,147 million for the year 2019, 11.6% higher than the level recorded at the end of 2018 (FY2018: USD 3,716 million)
At the end of the second half of 2019, Aegon's net income increased significantly to EUR 910 million (+260%), while full year net income more than doubled to EUR 1,528 million (+105%).
Turkey's sovereign wealth fund announced its TVF Finansal Yatirimlar unit had agreed to purchase France-based Groupama Holding SA's 10% stake in Turkish insurer GUNES Sigorta, Reuters reported, quoting a statement from the sovereign wealth fund. No further details including financial terms of the transaction were available.
About 10,000 claim files were reported by Hungarian insurers following the first week of February's storms, Budapest Business Journal reported quoting MABISZ (the Hungarian Association of Insurers) representatives.
Lloyd's of London announced the appointment of prominent figures as the inaugural members of its Culture Advisory Group.
In 2019, the Armenian insurance market grew by 19.79% in local currency, its GWP amounting to AMD 49.13 billion (~EUR 91.45 million), according to the data of insurance companies, provided by ArmInfo.
The Montenegrin market reported a 9% y-o-y growth in FY2019 GWP, to EUR 94.76 million, according to the preliminary figures published on the ISA's web-site.
The gross written premiums of Croatian insurers increased by 7% y-o-y to HRK 10.54 billion (EUR 1.42 billion) in 2019, according to the preliminary figures published by the Croatian Insurance Bureau.
IIF 2020 - MOTOR INSURANCE - "A glimpse in the future", the fourth conference organized in Vienna under the titles International Insurance Forum, will take place on 6 April, with a rich agenda bringing under the limelight the latest trends in the industry. Early bird rates are only available until 15 February.
Swiss Re Corporate Solutions appoints Marc Scheidegger as Chief Claims Officer. Subject to approval by the relevant authorities, Scheidegger will assume the role on 1 June 2020 and join the Swiss Re Corporate Solutions Executive Committee.
Swiss Re Corporate Solutions has appointed Bianca Willauer as Head Property & Specialty Lines, EMEA, effective 1 February 2020.