According to the Russian Association of Motor Insurers, in May 2019 INGOSSTRAKH became the MTPL leader in terms of number of policies and GWP, while AlfaStrakhovanie held the leading positions for the period from January to May, ASN reports.
ALLIANZ Group and Banco Santander settled an agreement for Banco Santander to buy a 60% stake in Allianz Popular SL, and terminate the exclusive non-life distribution agreement with ALLIANZ's operating entity in Spain.
The Polish Motor Insurers Bureau (PBUK) counted over 75,200 motor accidents abroad caused by vehicles with Polish registration plates for 2018. This means over 200 accidents abroad every day in 2018.
According to The Estonian Insurance Association (EKsL), 13,000 property claims arise over the course of an average year in Estonia. Of this number, about 11,000 are home insurance claims. Insurance companies in Estonia pay around EUR 28 million every year for property claims.
Presidential Decree #175 "On insurance" d/d May 11, 2019 calls for a number of significant changes for the insurance market from September 1, 2019, Minsk-News reports.
S&P Global Ratings raised its long-term issuer credit and financial strength ratings of SOGAZ to 'BBB', outlook stable, removing them from CreditWatch with developing implications, as the insurer informed on its website with reference to the agency's report.
According to the National Bank of Kazakhstan, for the period from January to May, total GWP amounted to KZT 208.7 billion/~EUR 0.49 billion (+24% y-o-y). 34% of GWP were contributed by the life sector, Allinsurance.kz reports.
During its annual meeting, held June 19, 2019, the Association of Bulgarian Insurers (ABI) adopted a program for the following year and elected a new board, led by Konstantin VELEV as Deputy Chairman.
This year the Forum format completely differs from those held earlier. The main objective of the event is the creation of a business platform for dedicated experts in Russia and abroad to discuss and share experience on specific, most relevant issues in the field.
Global insurance broker GALLAGHER has expanded its presence in CEE Region acquiring minority stake (29.7%) in Czech-based insurance broker RENOMIA for an undisclosed sum. The transaction is subject to regulatory approval and is expected to close in the third quarter 2019.
Efma and Accenture announced the winners of the 4th Innovation in Insurance Awards. The companies rewarded this year for their innovative solutions were AXA Germany, CCS, NISSAY, PZU and Zurich.
AXA announced that after 29 years with the Group, Gerald HARLIN, Group Deputy CEO and Chief Financial Officer, and a Member of AXA's Management Committee has decided to retire on January 1, 2020.
At the IDF Day held last week in Singapore during the annual Global Insurance Forum hosted by the International Insurance Society (IIS), the Insurance Development Forum (IDF) called to accelerate public-private collaboration and action in order to close the protection gap that leaves Emerging Asian countries most vulnerable to natural catastrophes.
UAB Workpower has become the first company allowed by the Board of the Bank of Lithuania to enter the Bank of Lithuania's regulatory sandbox and test a peer-to-peer (P2P) insurance platform.
The 55th edition of Global Insurance Forum, organized by IIS - International Insurance Society and The Institutes took place between 19 June - 21 June in Singapore.
The 3rd day (21 June) of the Global Insurance Forum is organized in partnership by IIS - International Insurance Society and IDF - Insurance Development Forum, and is focused on the protection gap and building resilience.
The 55th edition of Global Insurance Forum, organized by IIS - International Insurance Society and The Institutes continues today with insightful discussions about the future of the insurance, the cyber threats and the impact of AI.
Insurer GWP amounted to RUB 378.6 billion (EUR 5.2 billion) in 1Q2019, almost the same level as a year ago. Meanwhile, total paid claims increased rapidly, by 27.6% to RUB 139.2 billion (EUR 1.9 billion), statistical data of the Bank of Russia show.
In 1Q2019, total market GWP amounted to UAH 13.3 billion (EUR 436 million), which is 14.74% more y-o-y. Growth was recorded both in the non-life (+14%) and life (+23.6%) sectors, however, market shares remained almost unchanged, as data from the National Financial Services Commission show.
At the end of 31 March 2019, Romanian insurance market grew by EUR 27 million (+5.0%) y-o-y in terms of gross written premiums (GWP). In local currency, the premium growth was slightly higher (+7.4%), as Financial Supervisory Authority (ASF) figures show.