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 - 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.
VIENNA Insurance Group tannoucend Two of the top women managers in the Group - Svetla NESTOROVA (Bulgaria) and Sabina MUJANOVIC (Bosnia-Herzegovina), recently received major awards for their performance in 2019.
LLOYD's recently announced that Jon HANCOCK has decided to step down as Performance Management Director in 2020.
Polish subsidiary of NN announced the appointment of Magdalena MACKO-GIZINSKA as member of the board and Chief Customer Officer, starting January 2020.
Introduction of MTPL in Georgia was delayed and the bill most likely won't be considered this year, as Devi KHECHINASHVILI, Head of the Georgian Insurance Association, believes.
The leader of the Russian insurance market in terms of GWP and paid claims, SOGAZ group, increased its charter capital to RUB 30 billion (~EUR 0.43 billion). The changes of the insurer's charter were registered on December 31, 2019, ASN reports.
As the Central Bank of Azerbaijan announced on its website, there has been some structural changes in connection with the transfer to the Central Bank of the powers of the Financial Market Supervisory Authority (FIMSA), which was abolished under the president's decree, Trend reports.
Insurance Group of Georgia (IGG), one of the most recently launched companies with fully domestic capital, ended 3Q2019 with gross earned premiums worth GEL 9.98 million (~EUR 3.1 million), by almost 5% up y-o-y. Claims paid amounted to GEL 7.5 million (EUR 2.33 million).
The 3rd International Insurance and Reinsurance Congress will be held on April 21-22, 2020 in Moscow, traditionally combining two events: the 24th Annual Reinsurance Conference and the 3rd Insurance Conference.
FRISS appointed Niels ZIJDERVELD as Chief Commercial Officer. ZIJDERVELD will lead the FRISS Sales and Marketing departments.
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.
The insurance market has been growing over the past couple of years, recently showing a double-digit increase, despite a smaller growth rate at the end of 2019, according to Uldis DZINTARS, member of the board of BALTA (leader of Latvian non-life sector, which belongs to the PZU group), LETA news agency writes.
The GWP value of Slovenian insurers totaled EUR 1.90 billion in the first nine months of 2019, a 6.91% increase y-o-y, according to the Slovenian Insurance Association's Q3 report.
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).
According to the most recent figures available on the Czech National Bank (CNB) website, the local insurance industry totaled about CZK 124.45 billion (~EUR 4.82 billion) at the end of September 2019, up by 5.86% y-o-y.
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 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
On January 13th, 2020, Qatar Insurance Group (QIC) has announced the appointment of Salem Khalaf Al Mannai as the Group CEO of Qatar Insurance Group.
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.