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.
KYRGYZSTAN: Compulsory MTPL will come into force in 2016. Rates will be lowest among the Customs Union countries
The Law on Compulsory motor third party liability insurance (MTPL) in Kyrgyzstan will come into force at the beginning of 2016, stated Sanzhar MUKANBETOV, Chairman of the State Service for Regulation and Supervision of the Financial Market.
In Kyrgyzstan, 17 insurance companies are licensed, in reality, only six of these companies are active
According to the Kyrgyz Financial Supervisory Commission's data, in January-September 2014, the total premiums written by the local insurance companies amounted to KGS 880.98 million, while claims paid totaled KGS 111.31 million.
ON THE MOVE
Guy Carpenter announces new division and senior appointments designed to deliver enhanced client value
Guy Carpenter & Company, LLC, a wholly owned subsidiary of Marsh & McLennan Companies, announced the formation of a new Global Capital Solutions Group and a series of new leadership appointments related to the Jardine Lloyd Thompson Group plc (JLT) acquisition.
MMC names new MERCER CEO and MMC Vice Chairman
Marsh & McLennan Companies (MMC) announced key leadership changes appointing new MERCER CEO and MMC Vice Chairman "to further its growth strategy".
ALLIANZ announced three executives appointments
German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.
Thomas MOTAMED elected to AIG BoD
The Board of Directors of American International Group elected Thomas Firouz MOTAMED as a Director, effective immediately.
Bozidar Ljubisavljevic to lead Marine Specialty for Howden Turkey, the Middle East & Africa
Howden, part of Hyperion Insurance Group, announced the appointment of Bozidar LJUBISAVLJEVIC as Regional Marine Practice leader for the Howden Turkey, the Middle East and Africa region (TMEA). He will be based in Dubai.
Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia
Insurance should be accessible to all social classes, regardless of their wealth and 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. The low insurance penetration rates across the region show the need for another approach.
The "Croatian Insurance Days" took place in Opatija, Croatia
The most important annual meeting of the Croatian insurers, the "Croatian Insurance Days", took place in Opatija, Croatia, on 7 - 9 November.
Reducing the risks in agriculture by using insurance means, discussed in Skopje
On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.
IIF 2018 - Insurance in a DIGITAL WORLD
Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.
VIDEO: MUNICH Re: We have the duty to find solutions for cyber risks, which are a threat at the global level
Becoming a growing threat globally, cyber risks is both a challenge and an opportunity for the insurance industry. MUNICH Re's representatives talked to XPRIMM TV in Baden Baden, about the different approach to this type of risk that the Group, as one of the most active players on the cyber market solutions, proposes.
Willis Towers Watson: reinsurance products backed by 'alternative' capital have become mainstream
End investors, Insurance-Linked Securities (ILS) funds, and buyers - the three groups active in ILS - have predominantly weathered 2017 loss activity with a view that reinsurance products backed by 'alternative' capital have become mainstream, according to a new Global ILS Market Survey by Willis Towers Watson.
Swiss Re expects the reinsurance industry to further consolidate
Swiss Re expects the global reinsurance industry to consolidate as the distinction between insurers and reinsurers become increasingly blurred, an executive from the Swiss Group said in Baden Baden, reports Reuters.