STATISTICS: MONTENEGRO, 2008-2017: life insurance GWP increased by 95.5%
In 10 years, between 2008 and 2017, the insurance market in Montenegro grew by EUR 21.2 million (+35.0%) in terms of gross written premiums (GWP). More than half of the market was represented by motor insurance classes. Life insurance maintained a positive trend the whole decade.
STATISTICS: MONTENEGRO, FY2018: insurers FY2018 GWP - up by 6% y-o-y
The gross written premiums of Montenegrin insurers increased to EUR 86.83 million in 2018, up by 6.19% y-o-y, official figures show.
MONTENEGRO: Insurance market is stable and has great development prospects, as the preliminary 2018 data show
On January 30, 2019 Representatives of the Insurance Supervision Agency and the National Bureau of Montenegro Insurers (NBMI) had a meeting, during which it was agreed that the Montenegrin insurance market is stable and has great development prospects, according to the press release of the supervisor.
STATISTICS: MONTENEGRO, 3Q2018: GRAWE and LOVCEN lead the market rankings
During 3Q2018, the Montenegrin insurance market totaled almost EUR 65 million, a 6% increase y-o-y, as the Insurance Supervision Agency has reported.
STATISTICS: MONTENEGRO, 1H2018: property insurance lines have lost ground in GWP terms despite the increasing number of policies
Montenegro insurers reported GWP of EUR 41.27 million in 1H2018, up by 3.2% y-o-y. Paid claims increased at a higher pace, of 10.9%, reaching a total of EUR 17.6 million. The MTPL insurance line was the main driver in both cases.
STATISTICS: MONTENEGRO 1Q2018: GWP rose by 5.1% y-o-y while the value of paid claims grew by 16.2%
The Montenegrin insurance market increased by 5.1% y-o-y during Q1 2018 to EUR 18.4 million, while the aggregate value of paid claims and indemnities was up by 16.2% y-o-y to EUR 9 million, as data from the Insurance Supervisions Agency shows.
STATISTICS: MONTENEGRO, FY2017: GRAWE and LOVCEN lead the market rankings
The insurance market of Montenegro totalled EUR 81.77 million at the end of 2017, representing an annual increase of 2.00%, according to the preliminary figures published on the ISA's web-site.
MONTENEGRO - two new players on the market for supplementary health insurance
Montenegrin insurers Sava Re and Lovcen osiguranje are entering the market of supplementary health insurance, raising the number of local providers to four, osiguranje.hr wrote.
STATISTICS: MONTENEGRO, 3Q2017: Life and damages to property insurance lines, the most dynamic
According to data provided by the Insurance Supervision Agency of Montenegro, local insurers have ended 3Q2017 with GWP of EUR 61.2 million, 3.2% up y-o-y.
STATISTICS: MONTENEGRO 1H2017: GWP of EUR 40 million for the smallest CEE market
According to the centralized CEE figures, in terms of gross written premiums, at the end of June 2017, the insurance market of Montenegro was the smallest among all 17 CEE countries: GWP of EUR 40 million, up by 3.5% y-o-y.
ON THE MOVE
Bulgaria: Boiko ATANASSOV appointed as FSC's head
The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.
RUSSIA: Alexander ZARETSKI steps down from the presidency at METLIFE
On April 1, 2019, Alexander ZARETSKI will step down from his presidency of METLIFE. According to the Company's Board of Directors, this decision was made for personal reasons. Gheorghe DIMITRU will take over as president, ASN wrote.
TALANX announced finalization of generational renewal at Board level
The German insurer TALANX announced the Supervisory Board has completed the generational shift at Board level.
New appointments within SCOR Global P&C; Michel BLANC is the new CEO of Reinsurance
In Reinsurance, SCOR Global P&C announces the following appointments, effective April 1, 2019:
ASIROM VIG names Wolfgang HAJEK new CFO
Romania-based ASIROM, part of Vienna Insurance Group (VIG), has appointed Wolfgang HAJEK as the new CFO.
Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9
10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.
Conclusions: TBILISI - the first Georgian International Insurance Conference
The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.
Did you book your seat at one of the key European events dedicated to property and cyber insurance?
Climate risks have always produced high impact events, causing material and human losses that often have remained in collective memory as reference points. On the other hand, cyber risks are just emerging, but they are already demonstrating a potentially catastrophic impact which still needs to be better understood and assessed.