News - Insurance

UKRAINE: GWP of UNIVERSALNA increased by 15% y-o-y in 2019

According to the preliminary results of 2019 summed up, the GWP of UNIVERSALNA insurance company (included in TOP-10 Ukrainian non-life insurers in 3Q2019) increased at the end of 2019 by 15% y-o-y, to UAH 950 million (~EUR 35.95 million), as Forinsurer reports.

PORSCHE, MHP and MUNICH Re found a joint venture

PORSCHE, MHP - the sports-car manufacturer's subsidiary for management and IT consulting - and reinsurer MUNICH Re plan to form a joint venture. In fact, the three partners have already signed an agreement.

GEORGIA: GPI Holding maintains the market leadership position after 3Q2019

GPI Holding, a member of Vienna Insurance Group, maintained its leadership position on the Georgian insurance market, with a 17% market share after 3Q2019. The company reported GWP worth EUR 25.36 million and reinsurance premiums of EUR 4.38 million, while paid claims reached EUR 16.4 million.

STATISTICS: LATVIA, 3Q2019: Insurers' profits doubled to ~EUR 18 million

The Latvian insurance market totaled EUR 588.70 million at the end of September 2019, or 3.69% more y-o-y, according to data published by the Financial and Capital Market Commission (FKTK). At the same time, the insurance companies paid EUR 384.20 million in claims (28.81% more y-o-y).

MUNICH Re: NatCat events cause overall losses of USD 150 billion in 2019, only one third being covered by insurance

820 natural catastrophes caused overall losses of USD 150 billion in 2019, a portion of only USD 52 billion being insured, below the 2018 figure, as the global reinsurer MUNICH Re informed in a statement: "This was due, among other things, to the high share of flood losses, which are often not insured to the same extent as wind damage in most industrial countries".

GENERALI completed the acquisition of SEGURADORAS UNIDAS and AdvanceCare in Portugal

GENERALI finalized the acquisition in Portugal of 100% of the company SEGURADORAS UNIDAS and the service company AdvanceCare from CALM EAGLE Holdings and CALM EAGLE PARENT Holdings II, entities majority owned by investment funds managed by certain affiliates of APOLLO Global Management, as the Italian insurance group informed in a statement

Didem Ozsoy Dirican appointed CEO of NN Turkey

As of 1 February 2020, Didem Ozsoy DIRICAN, currently Chief Commercial Officer of NN Hayat ve Emeklilik, will be appointed CEO NN Hayat ve Emeklilik on an ad interim basis and subject to regulatory approval.