News - Markets & trends

Bridging the protection gap in Eastern Europe

For some families living in the former industrial regions of Eastern European countries, the social welfare payments offered by the Government are the most expected moment, each and every month. They are most helpful as a survival tool but, at the same time, combined with insufficient or even sometimes inexistent state-driven programs for tackling these issues, are considered by experts as a factor against actual change in both mentalities and lives.

What is happening with the Romanian private pensions' Second Pillar?

The future of the mandatory Second Pillar pensions is among the most disputed subjects, in the last period. After the rumors saying they'll be nationalized, the last discussions show that the participants' contribution will be reduced possibly to 1% from the current 5.1%, which will have a significant impact over the future pensions.






2017 is a revolutionary year for the Russian insurance market

2017 is an anniversary year. A hundred years after a series of key events in the history of our country and in one separate segment of the Russian economy such as insurance there will be also revolutionary events, after which the insurance market, apparently, will never be the same.

Travel Insurance compensation in case of a delay or cancellation? Sense or non-sense?

Whether it's buying the best airline ticket or finding the best travel insurance, people want an easy way to understand and compare products online. But, when it comes to submitting a (flight delay compensation) claim, people will find it difficult, time-consuming and complicated. Would a legally eligible claim need to be covered under a travel insurance policy or would a traveller seek to file a complaint to the airline carrier him-/herself? Would there be a strong support for travellers, who are eligibly entitled to compensation, with customer-friendly travel insurance benefits?

Swiss Re: Disasters resulting in economic losses, almost double the level in 2015

Total economic losses and global insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012, reversing the downtrend of the previous four years, Swiss Re sigma says. Globally there were 327 disaster events in 2016, of which 191 were natural catastrophes and 136 were man-made. In total, the disasters resulted in economic losses of USD 175 billion, almost double the level in 2015. 

Global insurance industry: EUR 3.6 trillion in 2016, up 4.4% y-o-y

Initial projections by ALLIANZ Research suggest that total global premium income rose to a new record high of eur 3,650 billion last year (excluding health insurance). In a y-o-y comparison, the nominal increase - after adjustments to reflect foreign currency translation effects - comes to an estimated 4.4%.

Despite its complexities, insurers and companies can get to grips with cyber risk, Swiss Re sigma says

Cyber risk is a growing concern for businesses, with recent attacks demonstrating that the costs of a cyber breach can escalate well beyond managing the fallout of lost or corrupted data. Swiss Re's latest sigma report "Cyber: getting to grips with a complex risk", says businesses need to do much more to integrate cyber security into their risk management programmes. Initiatives to boost cyber resilience are underway.

ITALY: Preparing for a mandatory cat insurance solution for real estate properties?

Following the 2016 earthquake sequences, ANIA - the Italian insurers' association is working to a project on household insurance for catastrophic risks. According to ANIA's President, Marina Bianca FARINA, implementing a solution for a better management of the cat risks is a must for Italia and should provide for a public-private partnership.


ALLIANZ: New-age corporate leaders are facing new and higher risks

"Rapidly changing risks and increasing compliance requirements mean corporate leaders are under scrutiny over alleged wrongdoing as never before. There are a growing number of areas that can result in a company and its directors being sued," states the recently issued D&O Insurance Insights - Management liability today: What executives need to know report by ALLIANZ.

UKRAINE: An insurance market "deserted" by foreign investors?

Despite the regulatory authority's efforts the Ukrainian insurance market continued to be confronted with a systemic crisis, which was noticed not only in insurance business. One after another, foreign insurance companies' which were active on the Ukrainian insurance market have decided to give up their business.

Sustained insurance sector growth in 2017 largely based on demand from emerging markets

The global economy is expected to grow moderately over the next two years, supporting continued growth in insurance premium volumes, Swiss Re's publication Global insurance review and outlook for 2017/18 shows. Growth in global non-life premiums is forecast to fall slightly from 2.4% in 2016 in real terms to 2.2% in 2017, and accelerate to 3.0% in 2018. In the life sector, global premiums are expected to grow by 4.8% in 2017 and 4.2% in 2018. The emerging markets, in particular emerging Asia, will be the main driver of premium growth in both the non-life and life sectors.

S&P: Insurance In Ex-Yugoslavia 25 Years After Dissolution: Is The Gap Closing?

Intense competition, difficulties in appropriate pricing because of lacking actuarial data, unresolved legal issues, unfinished privatization as well overall economic instability stalling development are some of the main findings of the latest report issued by S&P Global rating on the ex-Yugoslavian insurance markets (Insurance In Ex-Yugoslavia 25 Years After Dissolution: Is The Gap Closing?)


The Russian banking system: Has the bottom been reached or is the economy still in recession?

In the first half of 2016 the Russian economy "shrank" and the fall affected all sectors of the economy. Moreover, the official forecasts about the end of the crisis were ambiguous. Despite this, experts forecast the recovery and growth of the economy in the current year. At the same time, the situation in the banking sector inspires "cautious optimism". So, at the end of the 2nd quarter of 2016 the banking sector has become profitable even without data from SBERBANK Russia (Figure 1).


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