This year the law on mandatory third-party liability insurance (MTPL) in Kyrgyzstan begins to be applied to foreigners who own cars too.
In April and May 2020, market GWP decreased by almost 15% y-o-y. However, this contraction was not catastrophic for the market, as the Expert RA rating agency noted in its press release.
The EIOPA Board of Supervisors confirmed Liane HIRNER, CFO of Vienna Insurance, for a four-year mandate in the Insurance & Reinsurance Stakeholder Group (IRSG).
Coronavirus crisis' impact by the end of March was already higher than that registered at the end of 2008, many observers foreseeing that the pandemic might cause the most serious crisis since the 1930s, stated Carlo SCHIAVETTO, CFO at GENERALI CEE Holding for the Progetto Repubblica Ceca magazine.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of UnipolSai Assicurazioni S.p.A. (UnipolSai) (Italy). The outlook of these Credit Ratings (ratings) is stable.
Italian group Generali launches its first-ever Global Advertising Campaign in its 189-year history, uniquely focused on celebrating its 150,000 plus agents who embody the true meaning of Lifetime Partner.
Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a business of Marsh & McLennan Companies, announced the appointment of Henry LAWRENCE as a Managing Director, GC Fac UK, effective 17 August.
From January to May 2020, the Albanian insurance market amounted to ALL 6.07 billion (~EUR 48.8 million*), 9.99% less y-o-y, the total number of concluded insurance contracts dropping by 26.53%, according to figures published on the website of ASFA
(Albanian Financial Supervisory Authority).
Estonian insurers reported GWP of EUR 120 million in Q1 2020, or EUR 2 million less y-o-y, according to quarterly figures published by the Estonian National Statistics Board. The total value of GWP for the life segment decreased by 13.7% y-o-y to EUR 20.6 million, while the value of non-life GWP totaled EUR 99.5 million, up by 1.2% y-o-y.
Latvian insurers reported EUR -3.52 million net loss at the end of March vs. EUR 4.87 million net profit in Q12019, according to figures released by the Financial and Capital Market Commission (FKTK). Non-life insurers closed Q12020 with a net profit of EUR 7.85 million (vs. EUR 3.64 million a year ago), while the life insurers reported a negative result of EUR -11.37 million vs. a net profit of EUR 1.22 million at the end of March 2019.
In the first quarter of the year, the Lithuanian insurance market grew by 3.55% y-o-y to EUR 240 million, while the value of payments expanded by more than 8% y-o-y to EUR 135 million, according to figures published by the Bank of Lithuania.
In 1Q2020, the Russian insurance market growth was the highest over the past five quarters, after stagnation at the end of 2019, the Central Bank of Russia reports. The market GWP increased 12.6% year-on-year, its total volume reaching RUB 426.3 billion (~EUR 5.0 billion*), according to the data published by the regulator.
XPRIMM and CFA Society Romania will host this evening the first international edition of the debate events series XPRIMM Time for Business, under the titles "Economies on the post-Covid recovery road - A Romanian view". The debate will be hosted on the Zoom meeting platform and broadcasted on YouTube, on July 9, starting 18.00 hours EEST.
The Financial Supervisory Authority of Romania (ASF) together with the European Insurance and Occupational Pensions Authority (EIOPA), announce the start of the Balance Sheet Review of the Romanian insurance sector in the second semester of 2020.
AVIVA announced the appoitment of Amanda BLANC as Chief Executive Officer of Aviva with immediate effect. "For family health reasons Maurice TULLOCH, the previous Chief Executive, has today stepped down from the role and retired from his position on the AVIVA Board", as the UK insurer mentioned in a statement. TULLOCH joined the AVIVA plc Board in 2017 and was appointed as Chief Executive in March 2019.
For the first half of 2020, the number of e-MTPL policies exceeded 1.3 million units, which is 224% more y-o-y. GWP under these e-contracts amounted to UAH 1.12 billion/~EUR 37.5 million* (+228% in local currency), as the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) said in its press release.
Coface, an international insurance company, one of the global leaders in insurance of risks associated with trade and foreign economic activity, conducted a risk assessment in thirteen sectors of the global economy, Trend reports.
This year, Flood Re processed more claims and paid out more than in the first three years of operation combined. In 2019/20, Flood Re incurred claims at a gross cost of GBP 160 million - ten times higher than the previous year.
Zurich Insurance Group has created a WellCare business to accelerate the Group's existing health and wellbeing initiatives in markets around the world and apply a global approach to their development. The new business aims to provide retail, SME and commercial insurance customers with unique health and wellness solutions tailored specifically to their needs.
Insurance Europe has published its responses to consultations by the European Commission on draft amendments to Solvency II and the Insurance Distribution Directive (IDD) regarding the integration of sustainability risk and factors.