POLAND: platform for identifying insurance fraud launched by the Insurance Guarantee Fund
Aiming to help all market participants in revealing and preventing insurance fraud, the Polish Insurance Guarantee Fund (UFG) has launched a dedicated platform using advanced technologies.
POLAND, 3Q2018: Bancassurance arrangements provided for 12.6% of the market GWP
The Polish bancassurance distribution channel provided for 12.6% of the total premium production of the local market in 3Q2018, i.e. for a GWP volume of PLN 5.8 billion.
Poland: the financial markets' supervisory body reorganized as state legal entity
On 1 January 2019, further provisions of the Act of 9 November 2018 amending certain acts in connection with the strengthening of supervision over the financial market and investor protection on the Polish market entered into force.
STATISTICS: POLAND, 3Q2018: the decreasing popularity of the UL life insurance products pulled down the market
Polish insurers have collected premiums worth EUR 10.84 billion, which is about 1.2% more y-o-y, and paid claims totaling EUR 6.87 billion, most damages and liquidated damages being related to motor insurance.
STATISTICS: POLAND, 2008-2017 timeline: motor lines took over the trendsetter role after 2015
As the XPRIMM 10 years GWP timeline for Poland shows, the local insurance market needed about 10 years to regain and exceed its pre-crisis level: GWP of EUR 14.95 billion in 2017 vs. EUR 14.2 billion in 2008.
POLAND: insurance brokers have mediated GWP of EUR 1.7 billion in 2017
The total number of insurance brokers licensed in Poland at the end of 2017 was of 1,416. Throughout the year, 34 deletions from the register of insurance brokers were made, a Polish Financial Supervision Authority's Report on the condition of the brokerage market in 2017 shows.
Jacek JASTRZEBSKI is the new Chairman of the Polish Financial Supervision Authority
KNF- the Polish Financial Supervision Authority has announced the appointment of Jacek JASTRZEBSKI as Chairman of the market regulator, replacing Marek CHRZANOWSKI who resigned amid corruption allegations.
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.
ON THE MOVE
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.
ERGO Group appoints a Polish manager
Adam ROMAN, board member of Ergo Hestia (Poland), will hold the position of Head of Global P&C of the ERGO group, effective 1 March. His tasks will include supervision over property insurance of the group in the areas of underwriting, actuarial and pricing, as well as reinsurance.
Jad ARISS appointed Secretary General of The Geneva Association
Jad ARISS, currently Group Head of Public Affairs and Corporate Responsibility with AXA, has been appointed Secretary General of The Geneva Association, effective 1 March 2019.
TURKMENISTAN: new General Director of the State insurance organization appointed
Guvanch NURMUKHAMMEDOV has been appointed as the new General Director of the State insurance organization, the single insurance institute of Turkmenistan, as the State information agency of Turkmenistan wrote.
Inclusive Insurance - a creative solution to narrow the protection gap in the emerging markets of the Southeastern Europe
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.