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.
STATISTICS: MONTENEGRIN insurers' GWP rose 3.8% y-o-y in Q1
The aggregate GWP of the 11 insurance companies operating in Montenegro has increased by 3.8% y-o-y to EUR 17.4 million in Q1 2017, data from the Insurance Supervisions Agency shows.
STATISTICS: MONTENEGRO, FY2016: Austrian and Slovene insurers lead the market rankings
The Montenegrin market reported a 4.2% y-o-y growth in FY2016 GWP, to EUR 80.1 million, according to the preliminary figures published on the ISA's web-site. The non-life insurance segment had the largest contribution to the aggregate figure, reporting GWP of EUR 66.5 million (83% of total GWP), while the life sector accounted for the remaining 17%, or EUR 13.7 million.
Montenegro: Grawe acquires the local unit of Merkur International
Grawe has confirmed for the local financial press the acquisition of Merkur Insurance Podgorica, the Austrian Merkur International Holding 100% owned subsidiary from Montenegro, in a deal worth EUR 1.39 million.
STATISTICS: Montenegrin market up by 3.5% at the end of the third quarter
In 3Q2016, the Montenegrin insurance market totaled almost EUR 60 million, a 3.5% increase y-o-y, as the Insurance Supervision Agency has reported. Compared with September 2015, non-life insurance premium was up by 3.3% (to EUR 50.1 million), while the life insurance GWP grew by 4.2% (to EUR 9.2 million).
ON THE MOVE
MILLI Re announced new Manager appointment
Turkish reinsurer MILLI Re stated that Gokhan AKTAS has been appointed to the position of Manager of Foreign Inward Business on 01 September 2018.
Martin BLACKWELL to Join JLT Re as Partner
JLT Re announced that Martin BLACKWELL will be joining JLT Re as a Partner, capital solutions, next month.
The challenges associated with digitization in the insurance sector discussed at the "Insurance in the Digital Future" Conference, in Ljubljana
On September 13, 2018, the Insurance Supervision Agency of Ljubljana organized its 4th conference on insurance. The subject of the event was Insurance in the Digital Future. Visit the event's web page to see the conference materials and photo gallery.
LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"
The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.
Munich Re: aggregation risk of cyber insurance is 'the elephant in the room'
Only 5% of cyber losses are insured, estimates Christian Fuhrmann, chief executive of global clients/North America, Munich Re. Very complex by nature and continuously changing, cyber insurance is one of the biggest challenges for insurers, he said.
AXA obtained approvals for XL acquisition. Last day of independence for XL Group
AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions.
FY2017 XPRIMM Property and Motor insurance reports to be launched in Monte Carlo
The latest editions of the XPRIMM Motor Insurance Report and Property Insurance Report will be launched in Monte Carlo, at the 62th edition of the "Rendez-Vous de Septembre," one of the most important international events dedicated to insurers, reinsurers, brokers, and reinsurance consultants.
Hannover Re: broadly diversified reinsurers with expertise and a very good rating will benefit from the current state of the market
Hannover Re expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019 and promising opportunities for next year arising from digitalization, increased demand for coverage of cyber risks, as well as from various openings in the Asian growth markets.
Willis Re - Market still soft, but functional
Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.
AIR launches severe thunderstorm model
Catastrophe risk modeling firm AIR Worldwide released a new severe thunderstorm model for Europe. Together with AIR's Extratropical Cyclone Model for Europe and European flood models, this new model now allows for a comprehensive assessment of atmospheric risk in this region.