RMS, the world's leading catastrophe risk modeling company, announced the appointment of Michael Steel as Global Head of Business Development, joining the RMS Executive Committee.
Willis Towers Watson announced the appointment of Susan Finbow as Global Head of FINEX (Financial, Executive and Professional Risks) Financial Institutions.
Everest Re Group announced the promotion of Don Mango to Everest Group Chief Risk Officer and Chief Actuary effective March 30th.
FIAR - The International Insurance-Reinsurance Forum, to be held in Romania on 24-26 May, relocates for 2020 in Bucharest, to ease access and logistic issues for its traditional attendees.
IFRS 17 deferral until 2023 and improvements to standard welcomed, but disappointing that important issues remain unaddressed by IASB, a press statement released by Insurance Europe today says.
In March 2020, The Croatian Financial Services Supervisory Agency (HANFA) rejected the issue of authorization to acquire a majority stake in the Croatian pension insurance company Raiffeisen Mirovinsko osiguravajuce drustvo by Triglav Group.
At the end of 2019, the Moldovan insurance market recorded an increase of 7.02% y-o-y in local currency. Market GWP went up to MDL 1.6 billion (~EUR 84.4 million), while the growth rate of paid claims was more prominent (+19.09%), according to the latest data published by the National Commission of Financial Market (CNPF).
The Tajik insurance market GWP in local currency remained almost unchanged at the end of 2019 (+0.03%), reaching TJS 234.3 million (~EUR 21.6 million), the conversion in euro showing a slight decrease compared to 2018.
Total number of Green Card policies in 2019 reached 1.08 million units (+43.6% y-o-y). GWP of the segment increased by 26.8%, to UAH 1.63 billion (~EUR 61.7 million) vs. UAH 1.29 billion (~EUR 40.7 million) in 2018, according to the report of the Motor Transport Bureau of Ukraine (MTIBU).
In 2019, the amount of accrued premiums of the Russian National Reinsurance Company (RNRC) amounted to RUB 14.1 billion (EUR 0.2 billion), which is 16% more y-o-y, while the volume of earned premiums increased by 20%, to RUB 13.3 billion, the reinsurer informed on its website.
At the end of 2019, for 12 months ended, Vienna Insurance Group (VIG) recorded a net result of EUR 331 million, 23.2% more compared to 2018. The result before tax was EUR 522 million, up 7.4% year-on-year.
VIG Re, part of Vienna Insurance Group, closed the year 2019 with a net profit of EUR 21 million, staying at almost the same level recorded at the end of 2018. The profit before taxes was EUR 26 million, increasing slightly by EUR 65 thousand y-o-y.
Talanx Group ended 2019 with a consolidated net income of EUR 923 million, 31.3% more year-on-year, driven by increased earnings in all four main divisions of the group, particularly on Industrial Lines.
IV InnoIns-2020 Forum of Insurance Innovations, organized by "Insurance Today" and BusinessDrom Analytical Agency with support and participation of the All-Russian Insurance Association and FinTech Lab, will take place on March 31, 2020 in Moscow (Holiday Inn Moscow Lesnaya Hotel, Moscow, Lesnaya str., 15).
Generali Group ended the year 2019 with a consolidated operating result of EUR 5,192 million, an increase of 6.9% compared to the previous year, thanks to positive performance on all main business segments.
Over the year 2019, Groupama's consolidated premium income reached EUR 14.4 billion, 1.7% more year-on-year, supported by the 2.6% growth in France which compensated the 2.3% decrease in premiums recorded outside France.
Aviva ended year 2019 with a consolidated operating profit of GBP 3.2 billion, up 6% year-on-year, giving a rise to 8% growth in operating earnings per share to 60.5 pence (FY2018: 56.2 pence).
On March 12, 2020, PZU announced the resignation of Pawel SUROWKA, President of PZU Group. During his leadership, PZU Group's net profit doubled, ROE increased by 40%, while the premiums written went up 20%.
PZU SA announced in March 2020 the appointments of Beata KOZLOWSKA-CHYLA and Malgorzata KOT to the Management Board of the company.
International General Insurance Holdings Limited ("IGI" or the "Company") today announced that its Bermuda subsidiary, International General Insurance Company Ltd. ("IGI Bermuda"), has been granted provisional approval by the National Association of Insurance Commissioners (NAIC) to begin writing U.S. excess and surplus ("E&S") lines business effective April 1, 2020, pending execution of the IGI Bermuda U.S. E&S lines trust agreement which is currently in progress.