News - Insurance

Triglav Group aims for higher premiums and profit in 2020

In 2020, Triglav Group expects to increase its consolidated written gross premium to around EUR 1.2 billion (2019 plan: around EUR 1.1 billion) and profit before tax to EUR 95-105 million (2019 plan: EUR 90-100 million), while keeping a combined ratio below 95%.

BULGARIA: about 21,000 drivers will pay four times more for civil liability

According to the Chairman of the Financial Supervision Commission (FSC), Boyko ATANASOV, the proposed new Bonus-Malus system was well-balanced for drivers. About 21,000 drivers will pay more (about 4 times) for their civil liability insurance, as the data of the Insurers Association show.

RUSSIA: life insurance might decrease by 11-12% in 2019

By 2021, the Russian insurance market won't be able to reach the goal set by the All-Russian Insurance Association (ARIA) of RUB 2 trillion (~EUR 28.8 billion), part of its development strategy, as the national rating agencies Expert RA and NCR (National Credit Ratings) consider.

UKRAINE: "split" law was the key market event in 2019

According to PZU Ukraine group, the key event in 2019 on the Ukrainian insurance market was the signing of the "split" law - the transfer of the regulator's functions of the non-banking financial sector to the National Bank.

Swiss Re Institute: Secondary perils' toll is visibly increasing

Secondary perils' share in the total economic losses from natural disasters is increasing, Swiss Re Institute's report Insurance in a world of climate extremes shows. While 2019 was, overall, a "calmer" year in Nat Cat terms, as compared with the previous year and the last decade's average indicators, losses produced by less spectacular, but more frequent events are increasing.

STATISTICS: SERBIA, 3Q2019: insurers' premiums rose 6% y-o-y

The GWP of Serbian insurers increased 5.9% year-on-year to RSD 79 billion (EUR 672 million*) in the first nine months of 2019, according to the most recent figures published on the website of National Bank of Serbia (NBS).