Chisinau, 2 October 2018
Digitalization of the insurance market, cost optimization and rethinking
of distribution, tariffs' liberalization and introduction of the new
products - are just a few key interest points of the Moldavian insurance
market. Thus, local factors as well as external ones are driving all
the involved stakeholders to adapt and respond to the new requirements
and also to the InsurTech revolution.
Austrian insurer GRAWE has increased its presence on the Bosnian specialty market by acquiring the local insurer ATOS Osiguranje, former "Bobar osiguranje, for a total consideration of just over KM 23 million (~ EUR 12 million), the local financial press reports.
AzSigorta, one of the leading Azeri insurers, generated AZN 4.2 million* of net profit for the first half year 2018, according to the company's official report.
Net profit of SBERBANK Insurance in the first half year, by IFRS, amounted to RUB 2.1 billion* (+50%), said acting General director Dmitry POPOV.
In the first half year Azeri insurers generated GWP almost 44% more if compared to the same period last year, while paid claims of the market dropped by 4.10%, based on the data, published by the Financial Market Supervisory Authority of Azerbaijan.
Based on the insurance data for the first half year, published by the National Bank of Kazakhstan, the biggest growth rate compared to the same period last year was recorded by life segment (+9.92%), while non-life segment grew by only 2.56%.
The Rating agency FITCH Ratings on July 20, 2018 confirmed long-term and short-term sovereign credit ratings of Belarus on foreign and local currency obligations at the B level with stable forecast.
On July 19 the National Commission for financial service market regulation approved the draft regulation on amending the Policy on reserves formation for risk insurance, which will toughen the technical reserves requirements for insurers, said the member of the Commission - Alexander ZALETOV, as informed INTERFAX-Ukraine.
Based on the first half year results paid claims of O'zbekinvest Hayot exceeded UZS 34.2 billion* (up by 96.3% compared to the same period last year).
Premiums of ILI of SBERBANK Life Insurance in 1H2018 amounted to RUB 51 billion* (+ 89% compared to the 1st half year in 2017). Paid claims during 6 months almost reached RUB 3 billion, according to the press-service of the insurer.
The law on housing insurance against emergencies passed through third reading at State Duma on July 26, and on July 30 the Federation Council proved it.
According to new requirements approved by the Russian Federation council, the minimal size of insurers' charter capital will strongly increase in a staged process that will end by 2022, the ASN portal reports.
Kazakh insurance company EURASIA will participate in insuring a residential tower construction in Dubai. CEO of the insurer Samat KABDOLOV believes this cooperation to be perspective and interesting, total insurance amount is KZT 130 billion*, informed the press-service of EURASIA.