AEGON Poland has received the Polish Financial Supervision Authority's approval to take over the management of the NORDEA open pension fund (OFE) between September 1 and November 17, 2017.

Polish insurers ended 1Q2017 with GWP of EUR 3.78 billion, 20.5% up y-o-y, mostly supported by the MTPL line which saw total GWP going up by almost 50%.

Polish insurers' business remained stable in 2016, with total GWP of PLN 56.04 billion (EUR 12.7 billion), 2.25% up y-o-y in local currency, but slightly decreasing (-1.5%) when denominated in European currency. Life insurance continued to witness a falling trend, especially on the UL products line, which saw a 23% reduction in premiums.

Michael KRUPINSKI, head of the Polish insurance leading group, PZU, has been awarded "Insurance Manager of the year 2016" by the national financial journal "Gazeta Bankowa", while the company won the "Most friendly insurance company" award in the category of motor insurance. The awards have been granted in recognition of PZU's impressing financial evolution last year, as well as of its customer centric culture.

The descendant trend established during the previous quarters in the Polish insurance market continued in Q3, with GWP falling by another 2%, to EUR 9.44 billion. While the absolute driver of the falling trend was again the life insurance segment, it is worth noting also that given the slightly weaker domestic currency has also a saying in the matter. Denominated in Polish Zloty, the GWP figure only shows a stagnant trend.

After a quasi stable 2015, the Polish insurance market ended the first half of 2016 with an 8% y-o-y decrease in GWP, entirely driven by the decreasing life insurance business.

Between June 27th and 29th, 2016, Polish Reinsurance Company (POLISH Re) together with CONCORDIA Insurance organized an underwriting and claims handling seminar dedicated to crop insurance, which took place in Torun, the city in the northern part of Poland. The seminar gathered more than 50 people, representatives of 10 insurance markets, such as: China, Azerbaijan, Turkey, Ukraine, Moldova, Hungary, Slovenia, Croatia, Germany and Poland.

The downsize trend of the Polish insurance market continued in Q1, driven by the strongly negative change recorded on the life insurance segment. Thus, total GWP amounted to EUR 3.14 billion, 10.76% less y-o-y, while the GWP decrease in life insurance GWP was of 23.37% y-o-y, to EUR 1.34 billion. The Polish zloti depreciation against euro had also a say in the significant market decrease.

AEGON Poland has signed an agreement with a Nordic financial services firm, NORDEA to take over the management of NORDEA's Polish Pillar II pension fund. The deal will make AEGON Poland the fourth largest pension fund in the country. The deal is subjected to regulatory approval.

Total value of GWP by the Polish insurers in 2015 amounted to PLN 54.8 billion (EUR 12.86 billion), a volume fairly equal as compared with 2014 (decrease y-o-y by 0.23%), while the total value of claims paid went down by 2%, to PLN 34.8 billion. Insurers' net profit amounted to PLN 5.7 billion and was 14.3% lower than in 2014.

The trends in the insurance industry is the main topic addressed during the two-day event taking place on 21-22 September 2017 in Shanghai.

The 61st edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers ends today in Monte Carlo. The Nat Cat insurance protection gap, as well as the global insurance market readiness to deal with the increasing complexity of the cyber risks were among the most debated topics.

The latest edition of the XPRIMM Motor Insurance Report was launched in Monte Carlo, on the occasion of the "Rendez-Vous de Septembre", provind FY2016 statistical data and analisys for the CEE, SEE and CIS regions.

The 61st edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers has started yesterday in Monte Carlo. XPRIMM publications on the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel as well as at the other event's venues.

Swiss Re forecasts growing demand for new reinsurance solutions that help clients manage their portfolios and expand into new segments and markets, company's officials said at the press conference that took place Monday, in Monte Carlo. 

In the wake of the decision by the United Kingdom (UK) to leave the European Union (EU), insurers that access EU business through their UK companies have begun to unveil plans to establish additional subsidiaries, primarily in Ireland, Luxembourg or Belgium, according to an analysis presented by AM Best during Rendez-Vous de Septembre.

Most reinsurers gathered in Monte Carlo have expressed their concern with the lack of proper insurance protection of properties around the world, especially that the latest events have once again shown that climate change is a real challenge.