STATISTICS: POLAND, 1H2018: improved profitability in life insurance despite reduction in GWP
The largest insurance market in the CEE, Poland, ended1H2018 with GWP worth EUR 7.36 billion (PLN 32.12 billion). In local currency, the y-o-y comparison shows a positive rate growth of 1.7%. Yet, given the roughly 3% depreciation of the Polish zloty against Euro, the market results denominated in European currency show a market decrease of 1.4%.
POLAND: Acquisition of Pramerica Zycie TUiR SA by Unum Group complete
Unum Group completed its purchase of Pramerica Zycie TUiR SA ("Pramerica"), a financial protection provider in Poland that will support Unum's long-term growth strategy of protecting more people.
Poland: Full online access to the Insurance Guarantee Fund communication database
The full history of MTPL and Motor Hull insurance is now available online for every vehicle owner in Poland. In addition, all drivers - even if they are not the owners of the vehicle - can check their accidents history.
NN named Jacek KORONKIEWICZ as interim CEO of Nationale-Nederlanden Poland
The Dutch insurance group NN announced that as of 15 September, Jacek KORONKIEWICZ, currently CFO and COO of Nationale-Nederlanden Poland, heading the functions of Finance, Operations and Procurement, will act as interim CEO.
A.M. Best affirms credit ratings of Polskie Towarzystwo Reasekuracji S.A.
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Polskie Towarzystwo Reasekuracji S.A. (POLISH Re) (Poland). The outlook of these Credit Ratings (ratings) remains stable.
Poland: ALLIANZ was the best rated insurer by customers in 1H2018
Allianz was the most recommended life and property insurance brand in Poland in the first half of 2018, a research carried out by GfK showed. The company achieved the highest Net Promoter Score (NPS) values both in life and non-life insurance.
STATISTICS: POLAND, 1Q2018: moderate overall increase in GWP, with opposite dynamics on the life and non-life segments
Polish insurers ended 1Q2018 with GWP worth PLN 16.25 billion (EUR 3.86 billion), approx. 2% up y-o-y, depending on the currency of choice. Paid claims amounted to PLN 10.5 billion (EUR 2.5 billion), a sum by about 0.7% larger y-o-y.
VIG to increase its presence in Poland by acquiring the local unit of GOTHAER
Austrian VIG said is acquiring 100% of the shares of Polish non-life insurer GOTHAER Towarzystwo Ubezpieczen (GOTHAER TU). The purchase agreement was signed on 6 June 2018. The purchase is subject to approval by the local authorities.
POLAND: new increases in the MTPL tariffs expected after a recent Supreme Court ruling
Polish insurance market may witness a new round of increasing MTPL tariffs following a recent Supreme Court ruling, asking insurers to pay compensations for permanent disability not also to the victim, but also to his/hers close relatives.
STATISTICS: POLAND, FY2017: motor insurance lines account for 60% of the non-life GWP and over 67% of the paid claims
Polish insurers ended 2017 with aggregated net profit of PLN 5.7 billion (EUR 1.37 billion), of which PLN 2.3 billion came from the life insurance segment and PLN 3.4 billion was the result of the non-life business.
ON THE MOVE
Andrej SLAPAR reappointed the President of the Management Board of Zavarovalnica TRIGLAV for another five years term
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.
IGI appoints its first Chief Technology Officer
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.
BEAZLEY's CUO to join Lloyd's of London Board in February 2019
Lloyd's, the specialist insurance and reinsurance market announced that Neil MAIDMENT has been appointed as an independent non-executive of the Lloyd's Board with effect from February 2019.
The "Croatian Insurance Days" took place in Opatija, Croatia
The most important annual meeting of the Croatian insurers, the "Croatian Insurance Days", took place in Opatija, Croatia, on 7 - 9 November.
Reducing the risks in agriculture by using insurance means, discussed in Skopje
On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.
IIF 2018 - Insurance in a DIGITAL WORLD
Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.
VIDEO: MUNICH Re: We have the duty to find solutions for cyber risks, which are a threat at the global level
Becoming a growing threat globally, cyber risks is both a challenge and an opportunity for the insurance industry. MUNICH Re's representatives talked to XPRIMM TV in Baden Baden, about the different approach to this type of risk that the Group, as one of the most active players on the cyber market solutions, proposes.
Willis Towers Watson: reinsurance products backed by 'alternative' capital have become mainstream
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 reinsurance industry to further consolidate
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.
NASH, Guy Carpenter: The current pressure on returns is a stimulus for consolidation
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.
Hannover Re expects modestly higher premiums and stable conditions for its German business
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.
November Business Meetings (NBM) for Reinsurers
21-22 November 2018
"Novaya Ploschad" Business Center, Moscow, Russia
Organizer: The All-Russian Insurance Association (ARIA)
Media Partner: XPRIMM Publications
For details: ins-df.com
5 - 6 December 2018
Excel London, UK
Media Partner: XPRIMM Publications
For details: fintechconnect.com
IFRS 9 After Implementation In-House Training
Date, venue & schedule - chosen by the applicants
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details: glceurope.com