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EUROINS, 1Q2019: 41% increase in revenue y-o-y
by Cosmin CONCEATU, 2019-05-28
Bulgaria-based EUROINS, part of EUROHOLD, reported a consolidated revenue of EUR 171 million (+41% y-o-y) for the first three months of 2019. For the same period, EUROINS showed an increase of 37% in gross written premiums (GWP) volume, growth sustained mainly by Romanian and Bulgarian business.
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BOSNIA & HERZEGOVINA: UDOFBiH is now member of Insurance Europe
by Cosmin CONCEATU, 2019-05-30
During Insurance Europe's General Assembly on 22 May 2019, the Federation announced a new member aboard: The Association of Insurance Companies in the Federation of Bosnia and Herzegovina (UDOFBiH).
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BULGARIA: FSC is working on Bonus-Malus scheme
by Cosmin CONCEATU, 2019-05-30
The Financial Supervision Commission (FSC) of Bulgaria is implementing a bonus-malus system for MTPL insurance. The system, similar to others in Europe, will influence MTPL premium levels depending on driver behavior.
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STATISTICS: CZECH REPUBLIC, 1Q2019: Claims produced by storms and heavy snow at the highest value in the last 9 years
by Andrei Victor, 2019-05-30
According to preliminary data for the first quarter of 2019, the total GWP according to the Czech Insurance Association - CAP methodology is CZK 34.82 billion (EUR 1.35 billion), compared to the first quarter of 2018 with a premium premium of approximately CZK 33.49 billion.
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POLAND: Gothaer TU rebrands to Wiener TU VIG
by Cosmin CONCEATU, 2019-05-30
Gothaer's Polish subsidiary announced rebranding under the name Wiener TU VIG, after the German company was officially bought by Vienna Insurance Group (VIG) at the end of February 2019. The shift towards the new name and logo should be complete by the end of June this year.
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POLAND: Indemnities for floods paid in under 24h
by Cosmin CONCEATU, 2019-05-30
Recent floods from intensive rainfall in southern Poland resulted in massive mobilization from local authorities and insurance companies. Insurers took special measured to make claims liquidation faster and easier for those affected by the weather conditions.
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Swiss Re Corporate Solutions and Airbus Aerial team to offer flood prevention modeling service
by Cosmin CONCEATU, 2019-05-29
Swiss Re Corporate Solutions and Airbus Aerial recently announced a collaboration that will help companies efficiently identify flood risks and more accurately predict weather-related flood damage.
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Steven M. LULEWICZ, BROADSPIRE: The insurers on the CEE motor market are slowly consolidating
by Adina TUDOR, 2019-05-27
Outsourcing claims management may be a solution for multiple companies activating on the insurance industry. In an interview for XPRIMM Publications, Steven M. LULEWICZ, Vice President, Global - Strategic Markets & Clients, BROADSPIRE Services, explains what the advantages of this practice are and what solutions can be used for the best results.
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Fitch Ratings upgrades GENERALI's IFS to "A", from "A-"
by Cosmin CONCEATU, 2019-05-30
Fitch Ratings has taken rating actions on Italian insurance group Assicurazioni Generali SpA (GENERALI) and removed them from Under Criteria Observation (UCO), where GENERALI was placed on 15 January 2019.
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GENERALI to sell its UK life run-off portfolio to RGA
by Andrei Victor, 2019-05-29
Italian insurer GENERALI has entered into an agreement with Reinsurance Group of America (RGA) for the sale of the life run-off portfolio of its UK branch.
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TALANX, 1Q2019: Strong 11% GWP growth in first quarter
by Cosmin CONCEATU, 2019-05-27
Talanx Group began the year with a strong GWP growth of 11%, reaching EUR 11.7 billion. Net income was up by 8%, while the combined ratio slightly improve to 96.8%, compared to 1Q2018. Talanx Group expects a net income of EUR 900 million by the end of 2019.
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NN Group, 1Q2019: Net result increased by 28.4%
by Cosmin CONCEATU, 2019-05-27
First quarter results of 2019 improved for NN Group. The net result increased by 28.4%, while the gross premium income reached EUR 4.9 billion, showing an increase of 9.0% compared to the same period of 2018.
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GREECE: 12th Insurance Conference: industry is important for providing security to the population and society
by Marina MAGNAVAL, 2019-05-30
On May 28, the 12th Insurance Conference was held in Greece with participation of top insurance market executives and institutional players in the country, in collaboration with the financial & business portal banks.com.gr, the portal Insuranceworld.gr, and the magazine, Insurance World.
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ARMENIA: annual increase to insurer taxes exceeded 11% in 1Q2019
by Marina MAGNAVAL, 2019-05-30
In the first quarter of 2019, Armenian insurers paid 11.8% more y-o-y in taxes. Total taxes of the insurance industry amounted to AMD 633.9 million, of which AMD 542.3 million (86%) fell into direct taxes, ArmInfo reported.
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STATISTICS: BELARUS, 1Q2019: market GWP went up by more than 12% y-o-y, while paid claims ratio decreased by 4.6%
by Marina MAGNAVAL, 2019-05-30
In 1Q2019, GWP of the Belarusian market amounted to BYN 336.41 million (EUR 140.82 million), 12.30% more y-o-y, data published by the Ministry of Finance, show.
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KAZAKHSTAN: Jan-Apr over 83% of insurer income went to insurance activities
by Marina MAGNAVAL, 2019-05-30
According to a Ranking.kz estimation based on data from the National Bank, for the first four months of this year, total income of the Kazakh insurers reached KZT 133.2 billion, which is 25.8% more y-o-y, Allinsurance.kz reports.
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MOLDOVA: an important step for market liberalization to take place July 1st
by Marina MAGNAVAL, 2019-05-30
On July 1, 2019, insurance market liberalization begins in Moldova. After this date insurance companies will independently set tariffs for MTPL and Green Card, which are currently set by the supervisory authorities, Sputnik Moldova news agency reports.
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RUSSIA: from January-March life GWP dropped by 5.5% y-o-y
by Marina MAGNAVAL, 2019-05-30
According to Philipp GABUNIA, Director of the Insurance Market Department of the Bank of Russia, from January to March 2019, investment life insurance (ILI) GWP dropped by 26% y-o-y in an amount of RUB 46 billion, ASN reports.
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Net Insurance announces the establishment of the Innovation Advisory Board
by Daniela GHETU, 2019-05-27
The Net Insurance Innovation Advisory Board of Archimede SPAC just kicked off, designed to strengthen the Insurtech Inside philosophy, which was at the very basis of the company equity story since its creation, leading to notable achievements as the inclusion in the prestigious 2018 Insurtech Almanac drafted by FT Partners.
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The Azeri insurance market's growth perspectives under debate in Baku, on 28 June
by Daniela GHETU, 2019-05-30
Developing several mandatory insurance lines, as well as reforming the agricultural insurance system or taking steps to the market's digitalization and general modernization are the main growth solutions that will be discussed on the occasion of the 2019 edition of the Conference "Insurance in Azerbaijan: Trends & Opportunities", 28 June 2019, Hilton Hotel, Baku, Azerbaijan.
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Did you book your seat at the "State Insurance Supervision Efficiency in a Frame of a New Solvency Regulation Approach" Conference?
by Adina TUDOR, 2019-05-30
Re/insurance professionals from all over Europe will gather, on 25 June, in Moscow, at the "State Insurance Supervision Efficiency in a Frame of a New Solvency Regulation Approach" Conference, organized by the AIDA Insurance Legislation Working Group (AIDA Russian Chapter) within the AEB Insurance and Pensions Committee.
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| On the move |
New appointments inside Swiss Re Corporate Solutions
by Cosmin CONCEATU, 2019-05-29
Swiss Re Corporate Solutions announced a new Head for Accident & Health North America and a new Head for Financial & Professional Services and Casualty Canada, both effective from June 2019. The newly announced Heads will be Katie MCGRATH and Tyler JOHNSTON.
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AON adds executive team in Global Reinsurance Clients unit
by Andrei Victor, 2019-05-29
Global re/insurance broker AON announced changes within its Global Reinsurance Clients team, which launched in 2014 and forms part of its Reinsurance Solutions operation.
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KUNSTEK and ZIVEC reappointed in Sava Re's supervisory board
by press.release, 2019-05-27
Andrej Gorazd KUNSTEK and Mateja ZIVEC were reappointed as employee representatives to serve another term on the Company's supervisory board. Both members are to begin their new terms of office on 12 June 2019.
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