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).
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.
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.
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.
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.
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.
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.
As of April 1st, 2019, Steven ZUANELLA is Group Chief Digital Officer, the Italian insurer GENERALI annouced. "Steven ZUANELLA has the responsibility of steering, controling and supporting Group digital and data analytics initiatives and orchestrating innovation at the Group level."
The National Bank of Tajikistan revoked the licenses of two insurance companies - LONDON DUSHANBE and M-Polis, the regulator said.
On Monday, BETTER FINANCE and its member organizations gathered in Bucharest, Romania, to celebrate the 10-year anniversary of the European Federation of Investors and Financial Services Users and elect a new board and president.
According to The Financial Market Supervisory Authority of Azerbaijan, total market GWP in January-February amounted to AZN 132.82 million (~EUR 68.69 million), 2.05% more y-o-y. Total paid claims dropped by 18.2%, to AZN 33.12 million (~EUR 17.13 million), Trend News Agency reports.
The national rating agency Expert RA affirmed the rating of AlfaStrakhovanie at ruAA+, outlook stable, ASN reports.
Re/insurance professionals activating on the property segment, as well as cyber specialists, gathered on Tuesday, 9 April, in Vienna, Austria, at The "IIF 2019 - PROPERTY INSURANCE - the 2 CAT Cs: climate and cyber" Conference, to analyze the impact and current status of the climate and cyber risks.
Technology driven trends in the motor insurance field and technological approaches to meet future challenges were just a few of the topics analyzed during "IIF 2019 - MOTOR INSURANCE - the innovation challenge", which took place on Monday, 8 April, in Vienna, Austria.
Italian insurer GENERALI announced signing an agreement to take over the entire life, non-life and composite insurance portfolios of three entities of ERGO International AG in Hungary and Slovakia. The sale is subject to certain regulatory and anti-trust approvals, as is customary for transactions of this kind. The parties have agreed not to provide details of the purchase price and other terms.
The Albanian Financial Supervisory Authority (AFSA) has approved sets of instructions for Bonus-Malus system implementation. The Bonus-Malus system will begin to function in Albania starting April 1, 2019.
Marsh & McLennan Companies (MMC) announced the completed the acquisition of Jardine Lloyd Thompson Group plc (JLT) for USD 5.6 billion in fully diluted equity value. A week ago, the European Commission gave the green light for the transaction.
Ludovic SUBRAN will become the Chief Economist of Allianz SE and take over as Head of Group Economic Research from October 1, 2019. He succeeds Michael HEISE who is retiring after 17 years at Allianz.
Willis Towers Watson (WLTW), the global consultancy and brokerage firm, has recently appointed Eleonora GEAMANU as CEO of Willis Towers Watson Romania - Insurance Broker-Reinsurance Broker.
The national rating agency Expert RA raised the rating of SBERBANK Insurance to ruAAA, outlook stable. Previously, the insurer's rating was ruAA+, outlook positive, ASN reports.