KYRGYZSTAN: property insurance led 2018 year in GWP and paid claims
The State Service on regulation and supervision of the financial market under the government of the Kyrgyz Republic (supervisor) on February 8, 2019 conducted a meeting of the Executive Council, dedicated to the results of 2018 and tasks for 2019, according to the statement on the official website.
KYRGYZSTAN: law on compulsory MTPL insurance will come into force on February 7, 2019
On February 7, 2019 the law on compulsory MTPL insurance will come into force in Kyrgyzstan, as the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic informed.
STATISTICS: KYRGYZSTAN, 3Q2018: property insurance takes about 50% of GWP
For 9 months in 2018 GWP of Kyrgyz insurers amounted to KGS 638.96 million, according to the report of the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic.
KYRGYZSTAN: development of agro insurance is planned on the basis of Turkish experience
Kyrgyzstan plans to develop agro insurance of crops and livestock based on the experience of Turkey, said information agency Kabar.
KYRGYZSTAN: after 10 years of waiting, the law on MTPL will come into force on February 7, 2019
The law on MTPL, which hasn't been working since its adoption during 10 years, will finally come into force on February 7, 2019, according to the information agency Sputnik.
KYRGYZSTAN: State service for regulations and supervision - for 1Q insurance market increased by 20.6%
On July 12 the State service for regulations and supervision held a conference devoted to the activity results during the first half of the year and future perspectives, as the regulator informed on the official website.
PAID Romania - a model for reforming the mandatory home insurance system in Kyrgyzstan
Initiated by the World Bank, a technical knowledge exchange meeting was held in Bucharest with PAID Romania representatives and a delegation consisting of high-level representatives of the insurance market and the Kyrgyz parliament, on the topic of the Romanian experience in building a compulsory home insurance scheme.
Kyrgyzstan: half of the Kyrgyz insurers ended Q1 2018 with a positive balance sheet
Total profit for the 1st quarter 2018 amounted to KGS 58.2 million. "Out of 21 insurance companies of the market, profit was generated by 10 companies", - informed the National statistics committee.
KYRGYZSTAN: insurance industry is developing, only with difficulty
In May the Association of the Kyrgyz Insurers conducted an annual meeting, dedicated to discussion of the last year result. According to the participants of the meeting in 2017 the local market was developing gradually and the insurance volume growth amounted to 12.5 %.
STATISTICS: Kyrgyzstan insurance market reported EUR 13 million in FY2017 GWP
At the end of 2017, the Kyrgyz Republic insurance market totalled about KGS 1.06 billion (about EUR 13 million), according to the end-year market figures published on the market authority website.
ON THE MOVE
GRAWE Hrvatska: Natasa KAPETANOVIC to be the new President of the Management Board
After almost 20 years in the positions of member and President of the GRAWE Hrvatska Management Board, Igor PURETA will leave the company at the expiration of his mandate, on April 2. He will be replaced by Natasa KAPETANOVIC, member of the Management Board since 2010.
Jean-Paul CONOSCENTE promoted to CEO of SCOR Global P&C and will join SCOR's executive committee
SCOR announced it has appointed Jean-Paul CONOSCENTE, currently CEO of Reinsurance at SCOR Global P&C, as Chief Executive Officer of SCOR Global P&C. Jean-Paul CONOSCENTE will also join the Group's Executive Committee. This appointment is effective April 1, 2019.
Supervisory Board Chair NN Group steps down
NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.
AON appoints Lambros LAMBROU as global CEO of Commercial Risk Solutions
Global re/insurance broker AON has named veteran AON leader, Lambros LAMBROU as Global Chief Executive Officer (CEO) of its Commercial Risk Solutions division.
Peter CLARKE named VP & COO of FAIRFAX
FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.
Inclusive Insurance - just a week to the second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference in Skopje
Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.
Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna
Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.
FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee
To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.