Total equity of insurers in May continued to decline (-0.6%) and amounted to KZT 499.1 billion (~EUR 1.17 billion). However, the leader in terms of equity, EURASIA, improved its result in May to KZT 137.8 billion, as did VICTORY, which ranks second (to KZT 87.1 billion), Allinsurance.kz reports.
AXA XL, the property, casualty and specialty risk division of AXA announced three senior appointments to the London Reinsurance team, Megan KEMPE, Nick PASCALL and Conor GAFFNEY. The appointees will be based in London and report to Rob LITTLEMORE, CEO of London Reinsurance.
In the first half year of 2019, the number of Green Card policies increased by 16% y-o-y and totaled 18,837 agreements, Trend reports according to the data of the Bureau of Compulsory Insurance of Azerbaijan.
Gennady GALPERIN was elected to the position of CEO by the Board of Directors of the company, effective July 20, 2019, ASN reported.
Global re/insurance brokerage Marsh & McLennan Companies (MMC) announced its BoD has elected Tamara INGRAM as director effective July 19, 2019. With Tamara INGRAM's election, the Company's Board will consist of 13 directors.
AXA XL Insurance announced the appointment of Simona FUMAGALLI to Head of International Financial Lines, Europe, based in Milan.
After five years of service Petr STEPAN decided to pursue new career opportunities outside of VIG Group. He will be succeeded by Ales MIRNIK, who joins VIG Re as the new Head of Central & Eastern Europe department effective 8th of August 2019.
Alexander PROTSENKO has been appointed as the new President and CEO of Allianz Hungarian branch. He will take over the position held by Peter KISBENEDEK, who served Allianz Hungaria Zrt. for more than 11 years, after choosing to continue his career outside Allianz.
PZUW, the mutual insurance arm of the Polish PZU Group, is the second fastest growing mutual insurance company in the world, the latest edition of the Global 500 report prepared by the International Federation of Cooperative Insurance and Mutual Insurance Companies (ICMIF) shows.
The CEE insurance market totaled EUR 10.1 billion at the end of March 2019, according to regional markets figures collected and centralized by XPrimm Publications, 2% more y-o-y on average.
According to 1Q2019 results, the volume of the regional market remained almost unchanged y-o-y. Total GWP growth reached only 0.08% (in European currency). Regional GWP amounted to EUR 6.33 billion.
According to the Hellenic Association of Insurance Companies (HAIC), the local insurance market grew by 2.2% y-o-y from January-April 2019. Total GWP reached EUR 1.3 billion by the end of April.
At the end of March 2019, the Macedonian insurance market totaled about a quarter billion MKD (EUR 40 million), up by 4.6% y-o-y, according to data provided by the local Insurance Supervision Agency.
In the first three months of 2019, the Slovak insurance market totaled EUR 610.7 million, 3.6% more y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).
Inward reinsurance in 1Q2019 increased by 22% y-o-y (vs 24% a year ago), according to an official announcement from the national reinsurer.
From January to May 2019, Ukrainian insurers generated MTPL GWP 12.3% more y-o-y, and the total number of MTPL policies increased by 3.5%, Forinsurer reports with reference to data published by MTIBU (Motor Transport Insurance Bureau of Ukraine).
In January-May 2019, income of the Kazakh insurers amounted to KZT 176.7 billion (~EUR 0.41 billion), which is 25.1% more y-o-y, Allinsurance.kz reported based on data from Finprom.kz.
At a meeting held July 10 by President Shavkat MIRZIYOYEV, it was decided to reform the State Inspectorate for insurance supervision at the Ministry of Finance by liquidating it and establishing an Insurance Market Development Agency, reports UzReport.
OTP's Express Life Insurance of Bulgaria agreed to sell 100% of shares to Groupama's subsidiary in Bulgaria, strengthening Groupama's position in the local market.
AON announced that its Board of Directors has approved the appointment of Darren ZEIDEL as the firm's Executive Vice President, General Counsel and Company Secretary, effective July 12, 2019.