According to the market results published by CAP - the professional association of the Czech insurers -, the local market saw a 5.55% y-o-y increase in GWP, to EUR 3.78 billion, most of which came from the non-life insurance segment.
On November 14 Standard & Poor's announced about improvement of the financial rating of the Kazakh leading insurer EURASIA to BBB-, outlook stable. The insurer has also improved the national rating to kzAAA.
The Supervisory Board of Zavarovalnica TRIGLAV reappointed the President of the Management Board of Zavarovalnica TRIGLAV Andrej SLAPAR for a new five-year term of office and approved the proposal submitted by the President of the Management Board, reappointing Uros IVANC and Tadej COROLI as Members of the Management Board.
In 3Q2018, the Slovene TRIGLAV Group posted a profit before tax of EUR 69.9 million, 8% more y-o-y, mostly thanks to the profitable underwriting. Considering the business conditions anticipated until the year end, the Group confirms its annual profit guidance.
According to the preliminary data for 9 months this year, provided by the All-Russian Insurance Association (ARIA), Russian life insurers generated GWP in the amount of RUB 342.6 billion (+36% y-o-y).
International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.
Among the nominees of the 2018 European Excellence Awards, the leading Award for European PR and communications, there are three entries belonging to the insurance world: the Polish Insurance Association, Swedbank and Gjensidige Insurance.
The International Accounting Standards Board has voted to propose a one-year deferral of the effective date for IFRS 17, the new insurance contracts Standard, to 2022.
Global insurance broker Willis Towers Watson (WTW) expanded its presence in Kazakhstan - by opening a new entity to serve clients in "this key Central Asian growth market", as the company officials affirmed in a statement.
For 3 quarters Uzbek insurers generated GWP in the amount of almost UZS 1.2 trillion. At that voluntary classes collected UZS 984.4 billion from the total GWP, according to the data of the Ministry of Finance of Uzbekistan.
For the period from January to September 2018 MTPL premiums of MTIBU members in Ukraine went up by 20.6% y-o-y and amounted to UAH 3.3 billion, said Forinsurer.
For 3 quarters this year total assets of local insurers increased by KZT 62.8 billion (+6.8% y-o-y) and reached KZT 988.1 billion. However, growth rates slowed down (vs 8.6% a year ago), according to the data of the National Bank of Kazakhstan.
The German insurer TALANX said its nine-months EBIT improved by 33% to about EUR 1.5 billion (vs. EUR 1.1 billion at the end of September 2017), while the Group net income was up by 10% to EUR 488 million.