CYPRUS: Hellenic Bank is to revise its activities in the insurance sector
Hellenic Bank is about to revise its insurance activities to discover the best alternatives for the subsidiary insurance companies, according to the portal insuranceworld.gr of Ethos Media.
STATISTICS: CYPRUS 3Q: The insurance market has passed the threshold of EUR 650 million at the end of September
The nine months report on insurers' performance published by the Insurance Association of Cyprus (IAC), shows that at the end of September 2018 the local insurance market totaled EUR 651 million in premiums, up by 7.2% y-o-y.
STATISTICS: CYPRUS, 1H2018: Local insurance industry increased in almost all LoBs
During the first half of the current year, the local insurance industry increased in almost all business classes, with total GWP being up by almost 8% to EUR 458 million, according to half-year market figures published on the IAC website - the local professional association.
UPDATE: New findings suggest Olympic Insurance was already bankrupt in 2015
The Cypriot Auditor General Odysseas MICHAELIDES claimed that his office had spotted Olympic's insolvency issues during a 2014 audit. Yet, the situation broke out only four years later, when the company went bankrupt leaving some 200,000 clients uninsured.
London Club to set up a new office in Cyprus over Brexit
British ship insurer London P&I Club will set up a new subsidiary in Cyprus to ensure continued access to trade in the European Union in case Britain loses single market access, wrote Reuters.
STATISTICS: CYPRUS, 1Q2018: A life & pensions insurer dominates the market rankings
The insurance market of Cyprus totaled EUR 251 million in the first three months of 2018 in terms of GWP, up by 7.2% y-o-y, according to the quarterly preliminary market figures published by the Insurance Association of Cyprus - IAC.
Cypriot biggest life insurer appointed new CEO
At the beginning of June, UNIVERSAL Life - the Cypriot largest life insurer announced that its Board of Directors has decided to appoint Evan GAVAS as the new CEO - Chief Executive Officer of the Company.
STATISTICS: CYPRUS, FY2017: Non-life underwriting result increased by more than 10%
Total FY2017 GWP amounted to EUR 816.6 million, compared to EUR 765.3 million in 2016, representing a healthy 6.5% growth, according to the market figures published by the Insurance Association of Cyprus - IAC.
STATISTICS: CYPRUS: The insurance market exceeded EUR 600 million at the end of September
The quarterly report on insurers' performance published by the Insurance Association of Cyprus (IAC), shows that at the end of September 2017 the local insurance market totaled EUR 605.6 million in premiums, up by 6.6% y-o-y.
STATISTICS: CYPRUS, 1H2017: Life policies generate about half of the incurred claims
In the first half of the year, the total volume of GWP by the Cypriot insurers member of IAC - the local professional association - was EUR 427 million, up by 6% y-o-y.
ON THE MOVE
GRAWE Hrvatska: Natasa KAPETANOVIC to be the new President of the Management Board
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.
Jean-Paul CONOSCENTE promoted to CEO of SCOR Global P&C and will join SCOR's executive committee
SCOR announced it has appointed Jean-Paul CONOSCENTE, currently CEO of Reinsurance at SCOR Global P&C, as Chief Executive Officer of SCOR Global P&C. Jean-Paul CONOSCENTE will also join the Group's Executive Committee. This appointment is effective April 1, 2019.
Supervisory Board Chair NN Group steps down
NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.
AON appoints Lambros LAMBROU as global CEO of Commercial Risk Solutions
Global re/insurance broker AON has named veteran AON leader, Lambros LAMBROU as Global Chief Executive Officer (CEO) of its Commercial Risk Solutions division.
Peter CLARKE named VP & COO of FAIRFAX
FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.
Inclusive Insurance - just a week to the second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference in Skopje
Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.
Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna
Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.
FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee
To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.