More than 21 people have been killed and over 600 more injured after Albania was rocked by its strongest earthquake in decades, informed Euronews Albania
, though many expect the number to increase.
OMNIASIG Vienna Insurance Group, one of the largest non-life insurers in Romania, won for the second year in a row the largest aviation insurance account in the country, by providing CASCO and TPL coverage for TAROM airline's fleet.
Global re/insurance brokerage company MARSH has announced that John DRZIK will step back from his full time responsibilities as President of the Global Risk and Digital (GR&D) division, effective January 1, 2020.
GUY CARPENTER & Company, a leading global risk and reinsurance specialist and a business of Marsh & McLennan Companies, announced today the appointment of Robert JOHNSTON as Chairman of GUY CARPENTER's Bermuda operations, and Peter KOMPOSCH as Head of Casualty and Specialty, Bermuda, with immediate effect.
Starting with 25 November, Roger HODGKISS is joining the top management team of GENERALI Poland being responsible for the P&C sales network and marketing of GENERALI and PROAMA.
In January 2020, the National Bank and the National Commission for Securities and Stock Market will report on the program for 2020, presenting a new strategy for the financial sector's development until 2025. From July 1st, 2020 both entities will become the legal successors of the National Financial Services Commission, Forinsurer informs.
As of November 1st, 2019, the share of TOP-5 MTPL insurers out of 17 companies, licensed for this insurance type, amounted to 71.1% of total MTPL GWP volume (vs. about 66% a year ago), indicating increasing concentration in this market, Allinsurance.kz reports based on the National Bank data.
The leader of the Uzbek insurance market, O'zbekinvest Hayot, was awarded as the best travel insurance company, as UZREPORT news agency writes.
For the first nine months of 2019, Sava Insurance Group reported a net profit of EUR 37.7 million, reflecting an increase of 29.3% year-on-year, representing 87.6% of the group's annual target for 2019.
IIF2019 - Insurance in the Digital World Conference took place today, 21 November 2019, at Sheraton Hotel in Bucharest. The latest insurtech trends and the digitalization impact over the insurance sector were the main themes of discussion.
At the end of September 2019, for nine months ended, UNIQA Group consolidated net profit increased by 1.7% to EUR 167.1 million.
Trans Re ended the first nine months of 2019 with earnings before taxes in amount of USD 639 million, showing a considerable increase of 43.9% compared to the same period of the year before.
As of November 1, 2019, insurers assets grew by 18% y-o-y and amounted to KZT 1,168.5 billion (EUR 2.69 billion). However, total retained profit dropped by 10.4%, to KZT 69.7 billion (EUR 0.16 billion), as Allinsurance.kz reports.
The Turkish insurance market ended 3Q2019 with GWP worth TRY 48.4 billion, 22.5% up y-o-y. At the same time, the appreciation of the Turkish Lira against Euro has influenced the market rates calculated in European currency, translating them in a 38% positive change to EUR 7.8 billion.
The Moldovan insurance sector ended the 3rd quarter of 2019 with GWP in the amount of MDL 1218.15 million (EUR 62.80 million), which in local currency is 11.53% more y-o-y, as the data, published by the National Commission of Financial Market show.
At the end of 3Q2019, Armenian insurance market generated GWP worth of AMD 36.5 billion (EUR 70.3 million), 19.7% more y-o-y. In European currency the market growth looked much more impressive (+28.8%) thanks to a more favorable exchange rate of dram against euro.
VIG's head, Elisabeth STADLER was awarded as best International CEO and Liane HIRNER best CFO Newcomer of the Year at the CEO & CFO Award ceremony 2019 of the consulting company Deloitte together with Boerse Express and the CFO Club Austria, on 13 November 2019.
Sedgwick has announced the appointment of Wayne MANNING as head of client services for its international division.
According to the preliminary data, GWP of universal life insurance from January to September 2019 amounted to RUB 74.6 billion / ~EUR 1.05 billion (+54% y-o-y in local currency), which makes this segment a new growth driver on the Russian life market, ASN reports.
According to INGOSSTRAKH, the insurer's net profit from January to September 2019 decreased by 31% y-o-y in local currency, to RUB 4.47 billion / ~EUR 63.2 million, ASN reports based on the company's information.