News - Insurance

Green light for the Generali and Concordia merger in Poland

The Polish Financial Supervision Authority agreed to the merger of Generali Zycie and Concordia Capital. Maciej FEDYNA, Member of the Management Board of Generali Polska, will perform the function of President of the Management Board of the Concordia Polska Mutual Insurance Society.

AVIVA to cut 1,800 jobs over the next three years

AVIVA's head Maurice TULLOCH - appointed as CEO of the UK largest insurer on March 4th 2019 replacing Mark WILSON, announced the Group is cutting 1,800 jobs over the next three years in an effort to cut costs.

Romanian Group company OMNIASIG combines healthy lifestyle with environmental protection

VIG's Romanian Group company OMNIASIG has consolidated and significantly intensified its social, environmental and community commitment with a new CSR strategy. Employee involvement is a key element of the strategy. At a ceremony held in Bucharest on 6 June 2019 OMNIASIG, received the Silver "Gunter Geyer Award for Social Conscience" in recognition of its efforts.

RUSSIA: Nikolay GALUSHIN leaves Presidency of RNRC July 1

The Russian National Reinsurance Company (RNRC) announced that Nikolay GALUSHIN, its President and Chairman will leave the position on July 1, 2019, "following the successful implementation of the launch and development of national reinsurer's activities, through the company's strategy".

UKRAINE: 16 MTPL insurers got the highest evaluation rating in 1Q2019

The MTIBU (Motor Transport Insurance Bureau of Ukraine) has published the results of Bureau members' financial stability and claim settlement quality; out of 51 companies licensed for MTPL, 16 insurers got the highest evaluation rating in 1Q2019, Forinsurer reports.

KAZAKHSTAN: the life sector grew by more than 74% y-o-y

The National Bank of Kazakhstan reports that as of May 1, 2019, market GWP increased by 19.9% y-o-y amounting to KZT 166.8 billion. Paid claims grew by 51.5% y-o-y, to KZT 37.9 billion, reports.

STATISTICS: TURKISH insurers' Q1 GWP dynamic affected by the TRY depreciation against euro

Turkish insurance market's GWP was of TRY 17.5 billion (about EUR 2.7 billion) in Q1 2019, ~20% up y-o-y in nominal terms, according to the preliminary data published by the local association - TSB. In European currency, the rate was negative (-7.7% y-o-y) due the depreciation registered by the local currency against euro (6.3188 TRY/EUR, March 31st, 2019 vs. 4.8673 TRY/EUR, March 31st, 2018).

Tom STODDARD steps down as CFO of AVIVA

AVIVA announced that the BoD and Tom STODDARD have decided that Tom STODDARD will step down as Chief Financial Officer and as a Director of AVIVA from 30 June 2019: "Tom STODDARD will remain with the Group until 31 December 2019 to support an orderly transition".