Serbia was one of few CEE insurance markets where the 2008 economic crisis was tackled with little sacrifice to market growth. The industry grew to EUR 195 million (+33%) from 2008 to 2017.
The number of disputes between insurers and customers has raised mainly due to the low degree of customers' understanding over their insurance products, an analysis over the property insurance market recently published by Bank of Lithuania says.
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.
Czech insurers ended 2018 with a 4.1% y-o-y increase in GWP, to EUR 5.03 billion. Most of the market growth was owed to the higher growth rates seen on the motor insurance lines, data provided by CAP - the Czech Insurance Association show.
Armenian insurers' GWP reached AMD 41 billion (EUR 74 million) in 2018, according to data provided by ArmInfo. Denominated in local currency, the market's growth seems lower than in euro due to the Armenian dram appreciation (17.36% vs 22.97% in euro).
Insurance market premiums in 2018 increased by 11.3% overall compared to 2017. Life insurance as a whole remains the most important insurance group, but its recorded evolution shows near stagnation.
According to official statistics published by The Turkish Statistical Institute, at the end of 2018 there were 22,865,921 road motor vehicles registered in Turkish territory, an increase of 646,976 units (a +2.91% change) from 2017.
According to the Association of Hungarian Insurance Companies (MABISZ), between 2010 and 2017, Hungarian insurers paid aprox. HUF 40 billion for a total of 50,000 reported fire incidents. 2012 was the most severe year, with fires causing HUF 10 billion in damage.
Data collected by the Latvian Motor Insurers' Bureau (LTAB) shows that the 9 MTPL insurers from Latvia earned EUR 3.61 million revenues from this business line. It is the first time in the past 10 years when Latvian MTPL insurers profited from this type of business line.
While residential real estate in Bulgaria has expanded in recent years, the property insurance market remains underdeveloped, well below its true potential.
"The Russian National Reinsurance Company (RNRC) has announced its results for 2018. Under reinsurance contracts in 2018 RNRC received RUB 12.1 billion of GWP (+58% y-o-y). Total amount of earned premiums exceeded RUB 11 billion (almost 3 times higher y-o-y)", according to the company's official statement.
According to the Russian Association of Motor Insurers (RAMI), from January 1, 2019 to February 10, 2019 the average MTPL premium amount for cars dropped by 7% in 61 regions, generating in total almost 90% of all MTPL policies.
The French re/insurance group SCOR has recorded GWP worth EUR 15,258 million in 2018, up 7.1% at constant exchange rates compared to 2017 (+3.2% at current exchange rates), a growth well balanced between the Life and P&C divisions and a "first" in its history.