Insurance -

RUSSIA: VTB and SOGAZ merger to be complete in October

Editor: Marina MAGNAVAL
2018-10-17

According to the Head of VTB, Andrey KOSTIN, the merger of insurance businesses VTB and SOGAZ may be completed in October this year. As KOSTIN said, the parties already agreed on all issues in the merger.

RUSSIA: based on 1H2018 results, average Motor Hull policy cost fell to the lowest level in 6 years

Editor: Marina MAGNAVAL
2018-10-17

According to the first half year result, the average Motor Hull policy in Russia fell to the lowest cost in the past 6 years, meaning RUB 34,800, reported RBK.

RUSSIA: The State Duma Committee recommended cancelling prohibition on reinsurance of MTPL risks

Editor: Marina MAGNAVAL
2018-10-17

The State Duma Committee on Financial Market recommended a bill to cancel the prohibition on reinsurance of MTPL risks, as well as to include information about MTPL reinsurance contracts in the data transferred by insurers to the automated data system, reported ASN portal.

RUSSIA: S&P raised ROSGOSSTRAKH's rating to B+ with a stable outlook

Editor: Marina MAGNAVAL
2018-10-17

The rating agency S&P improved ROSGOSSTRAKH's long-term credit rating in local currency from B to B+, the forecast was also changed from positive to stable, stated ASN portal.

Adrian MARIN, UNSAR: Financial education allows consumers to choose the insurance products that best cover their needs

Editor: Adina TUDOR
2018-10-11

"Romanian insurers paid claims totaling 30.5 million RON in the first 6 months of 2018 in the household insurance segment", explained Adrian MARIN, President, UNSAR, during ICAR - The International Catastrophic Risks Forum.

Insurance markets of the Western Balkans in the limelight November 15 at ICIR in Frankfurt

Editor: Daniela GHETU
2018-10-11

There is just one month to go until the event hosted by The International Center for Insurance Regulation (ICIR), dedicated to the latest market and regulatory developments for the insurance markets of the Western Balkans.

Public insurers appoint Achim Bosch to reinsurer board

Editor: Daniela GHETU
2018-10-11

The supervisory bodies of Deutsche Ruckversicherung AG and the Association of German Public Insurers decided today, to appoint Achim Bosch (53) to the executive board of the two reinsurers, where he will be responsible for non-life reinsurance.

Croatian Insurance Days 2018 - Registration opened online

Editor: Daniela GHETU
2018-10-11

The 2018 edition of the "Croatian Insurance Days" will be held in Opatija, Croatia, on November 7-9, 2018. Organized by the Croatian Insurance Bureau, with the support of the Croatian Ministry of Finance, the conference will have, as usual, a rich and very informative program, also providing for extended networking opportunities.

Sergio SCHENA from GENERALI Italia voted as Group's best agent

Editor: Daniela GHETU
2018-10-11

The second GENERALI Global Agent Excellence Contest took place in Sorrento to elect the best agent within the GENERALI Group. During the Grand Finale Sergio SCHENA, from GENERALI Italia, was voted as Group's best agent.

STATISTICS: CYPRUS, 1H2018: Local insurance industry increased in almost all LoBs

Editor: Andrei Victor
2018-10-11

During the first half of the current year, the local insurance industry increased in almost all business classes, with total GWP being up by almost 8% to EUR 458 million, according to half-year market figures published on the IAC website - the local professional association.

STATISTICS: RUSSIA, 1H2018: Market growth speeds up to 13.3% y-o-y

Editor: Marina MAGNAVAL
2018-10-11

Total GWP by the Russian insurers in 1H2018 amounted to RUB 731.78 billion (~EUR 10 billion; +13.28% y-o-y in local currency vs. 9.5% a year ago), according to the Central Bank of Russia.

STATISTICS: LATVIA, 1H2018: aggregate profit of EUR 7.23 million, about EUR 2 million less y-o-y

Editor: Andrei Victor
2018-10-11

The Latvian insurance market totaled EUR 386 million at the end of June 2018, with an 18% increase y-o-y. At the same time, insurance companies paid EUR 200 million in claims (12% more y-o-y).

STATISTICS: ROMANIA, 1H2018: flat growth in total GWP, mostly due to the decrease in the MTPL business

Editor: Daniela GHETU
2018-10-11

Romanian insurers ended 1H2018 with GWP worth RON 5.04 billion (EUR 1.08 billion), a business volume which in fact demonstrates a quasi-stagnant phase. Gross paid claims amounted to RON 2.08 billion (EUR 602.6 million). Out of the 30 active players, Top 10 insurers accounted for about 88% of the market GWP.