News - Insurance -

Transaction with Dutch flavor in Slovakia: ACHMEA to acquire AEGON's P&C portfolio

Dutch insurance group ACHMEA announced is expanding its presence in Slovak insurance market by acquiring AEGON's property & casualty portfolio in the country. The portfolio consists of more than 18,000 home insurance policies. The acquisition is being made by ACHMEA's subsidiary, UNION.

2019-04-11

POLAND: PZU Group successfully completed a pilot project of using A.I. in handling motor damage

Poland-based PZU Group announced that progress was realized on their PZU GO service, an innovative technology, which will support the insurer's employees and experts in motor claim handling. The time necessary for claim handling will be significantly shorten through the software.

2019-04-11

Slovenian Court banned the AZN denying approval for the acquisition of shares in SAVA Re by CROATIA Osiguranje

Slovenia's Administrative Court has dismissed the appeal against the ban on the acquisition of shares in the Sava Re's group parent company, Pozavarovalnica SAVA by Croatian leading insurer CROATIA Osiguranje imposed by AZN - the Slovenian insurance supervisory body, the Croatian insurer announced.

2019-04-11

SLOVENIA: Sava Re proposes dividend for shareholders

Slovenian Sava Re is going to pay a gross dividend of EUR 0.95 per share, EUR 14.7 million in total, or 34.23% of 2018 net profit of the Sava Re Group, the reinsurer said in an official statement.

2019-04-11

POLAND: The Management Board of PZU Zycie SA appointed for a new term

The Supervisory Board of PZU Zycie SA appointed the Management Board of the company, including its president Roman PALAC, for a new term, until December 31, 2022, the company said in an official statement.

2019-04-11

STATISTICS: MACEDONIA, FY2018: Preliminary figures indicate double digit increases for insurance industry

The preliminary FY2018 statistics provided by Macedonian ISA indicate for the local insurance market a total gross written premiums (GWP) volume of EUR 161.4 million (MKD 9.9 billion), up by 10.4% y-o-y.

2019-04-11

STATISTICS: BOSNIA and HERZEGOVINA, FY2018: Insurers' GWP grew 4.4% y-o-y

Last year, the BiH insurance market totaled EUR 365 million (BAM 713 million), 4.4% more y-o-y, as data from the local insurance agency - AZOBIH shows.

2019-04-11

GENERALI Group announces its first boutique in Italy with a new partnership to launch innovative multi-asset strategies

GENERALI Group announced its first Italian boutique with a strategic partnership, aimed at launching a new asset management company. The new venture will develop multi-asset strategies, serving the needs of clients around the world, both private and institutional.

2019-04-11

ZURICH, ALLIANZ and AXA to Join Europe's Leading Insurers at Connected Insurance Europe 2019

In a few short years, on-demand has quickly become the norm. From getting our fix of food, entertainment or shopping, the majority of our interactions have gone one way: personalized, instant, easy. So, why not insurance?

2019-04-11

VIG Re has new Chief Underwriting Officer and head of CEE market

After opening new branch offices in Frankfurt and Paris, VIG Re announced organizational changes. Olaf DIETRICH will be the new Chief Underwriting Officer, leading the newly formed Corporate Underwriting Department, while Petr STEPAN will head the new CEE market department.

2019-04-10

EVENT: The XXIII Annual Reinsurance Conference is taking place in Moscow

The XXIII Annual Reinsurance Conference, a traditional 2 days event which gathers all the Russian insurance and reinsurance sector, as well as foreign participants, almost 200 participants from 23 countries, has started on Wednesday, 10 April, in Moscow.

2019-04-10

GEORGIA: MARSH enters local market

MARSH, a global leader in insurance broking and risk management, advising clients in over 130 countries, is beginning operation in Georgia, in partnership with the ARRIBA company, Business Georgia reports.

2019-04-10

KAZAKHSTAN: Insurers profit rose by almost 65% in Jan-Feb, and revenues by almost 25%

According to the monitoring service Ranking.kz, profit of Kazakh insurers in January-February, 2019, grew by 64.7% y-o-y, to KZT 12.7 billion. Insurers show positive profit results for the second year in a row since losses in 2017, allinsurance.kz reported.

2019-04-10

WBG selection of Expert Risk Modeling Engagement for PEF 2.0

The World Bank Group (WBG) is seeking to hire a modeling agent to work on the development of the next phase of the Pandemic Emergency Financing Facility (PEF 2.0).

2019-04-10

AZERBAIJAN: AXA terminates sale agreement with AXA MBask Insurance Company

The decision to liquidate AXA Mbask Insurance was made after an agreement of intent to sell the company's shares, concluded between AXA and Elkhan GARIBLI on May 21, 2018. The agreement has lost its legal force, the company announced.

2019-04-10

RUSSIA: insurers' profit in 2018 grew by almost 70%

According to the Bank of Russia, in 2018 the insurer profit grew by almost 70% to RUB 204.1 billion (vs RUB 120.6 billion in 2017). Return on equity reached 31.2%, total assets increased by more than 20% and exceeded RUB 2.9 trillion, based on the survey of key indicators of insurer activity in 2018.

2019-04-10

BELARUS: S&P affirmed 'B/B' ratings, outlook stable

On April 5, 2019 S&P Global Ratings affirmed a 'B/B' long and short-term foreign and local currency sovereign ratings for Belarus, the outlook remains stable, the agency reported.

2019-04-10

ZURICH's shareholders approve board members and one of the highest dividends in the industry

Shareholders of ZURICH Insurance Group re-elected Michel LIES as Chairman of the Board of Directors and seven other members for another one-year term of office during the Annual General Meeting held last week.

2019-04-10

Willis Towers Watson acquires TRANZACT

Willis Towers Watson is acquiring TRANZACT for USD 1.2 billion in closing consideration, with potential earn-out of up to USD 200 million, payable in either cash or stock by 2021, if certain financial targets are achieved.

2019-04-10

RUSSIA: 2018 claims against the ROSGOSSTRAKH group exceeded 30% of its GWP

By the end of 2018, the total amount claimed in lawsuits against ROSGOSSTRAKH group reached RUB 21.1 billion, equivalent to 30.5% of the group's total GWP and 39.8% of its paid claims, ASN reported.