The Azeri insurance market will undergo changes that lead to a decrease in premiums on certain types of insurance next year, said Chairman of the Azerbaijan Insurers Association (AIA) Mustafa ABBASBAYLI. Agro insurance and insurance against accidents at work may contribute to market development.

On October 5, 2018, the rating agency S&P affirmed "B/B" long- and short-term foreign and local currency sovereign credit ratings on Belarus with a stable outlook, as the Finance Ministry of the Republic announced.

According to Ibrahim ALISHOV, executive director of the Azerbaijan Financial Market Supervisory Authority (FIMSA), GWP on the Azeri market in 2018 may exceed last year's figure.

For the period of January-August, Azeri insurers' GWP amounted to AZN 516.924 million (+40.1% y-o-y), as the financial market supervisory authority reported. Paid claims reached AZN 168.582 million (+0.9%).

The Azeri market will continue to grow in 2018 according to the Chairman of the Mediator Committee of the Azerbaijani Insurers Association (ASA), Hayal MAMEDHANLI. Based on his opinion, the market may reach AZN 600 million this year (AZN 30 million more than in 2017).

Compulsory health insurance in Azerbaijan will be fully implemented within five years, according to the director of the State Agency for Compulsory Health Insurance under the Cabinet of Ministers of Azerbaijan Zaur ALIYEV.

For the first 7 months of the year insurers of Azerbaijan generated GWP in the amount of AZN 459.9 million (~EUR 230.87 million). Total market paid claims for the period reached AZN 145.9 million (~EUR 73.24 million), according to The Financial Markets Supervision Chamber of Azerbaijan.

AzSigorta, one of the leading Azeri insurers, generated AZN 4.2 million* of net profit for the first half year 2018, according to the company's official report.

In the first half year Azeri insurers generated GWP almost 44% more if compared to the same period last year, while paid claims of the market dropped by 4.10%, based on the data, published by the Financial Market Supervisory Authority of Azerbaijan.

Compulsory Insurance Bureau of Azerbaijan summed up half year results in terms of the total number of insurance events and paid claims, as informed on the official website of the Bureau.

End investors, Insurance-Linked Securities (ILS) funds, and buyers - the three groups active in ILS - have predominantly weathered 2017 loss activity with a view that reinsurance products backed by 'alternative' capital have become mainstream, according to a new Global ILS Market Survey by Willis Towers Watson.

Swiss Re expects the global reinsurance industry to consolidate as the distinction between insurers and reinsurers become increasingly blurred, an executive from the Swiss Group said in Baden Baden, reports Reuters.

Current market conditions are putting increasing pressure on returns with some companies viewing consolidation as a potential solution, James NASH, CEO of International at Guy Carpenter said in his opening remarks at the Baden-Baden 2018 Reinsurance Meeting hosted by the global risk and reinsurance specialist.

E+S Ruckversicherung AG, the Hannover Re Group's unit handling German business, continues to expect a positive premium development in the German market for the January 2019 renewals, albeit at a somewhat more diminished pace than in 2018.

The market volume for cyber insurance is expected to grow up to USD 8-9 billion by 2020, Doris HOEPKE, member of Munich Re's Board of Management stressed in Baden Baden adding that, "The demand for cyber risk cover is growing continuously. We therefore see it as our duty to develop solutions."

After severe storm damage in Japan and the United States, Munich Re is looking with a little more optimism to the next renewal season. "I expect at least a stable renewal round in 2019," Board member Doris HOEPKE said in Baden-Baden. Until recently the reinsurer's expectations were leaning towards a stagnant season.

"You don't have to be big to be beautifully relevant or financially successful, but you do have to be focused," Pina ALBO, Group CEO of Hamilton Insurance Group said, addressing the question of whether bigger is necessarily better at the Reinsurance Symposium in Baden-Baden.

Five new titles are available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.