Press cuttings

ARMENIA: Retail insurance market accelerated the upward trend for 2017 from 0.2% to 4.5%, while the corporate market slowed from 12.1% to 8.5%

The share of retail  insurance in the portfolios of premiums of Armenian insurers amounted  to 56.1% (19.6 billion AMD), corporate - 43.9% (15.3 billion) in  2017. At the same time, the capacity of the retail insurance market  accelerated the upward trend to 4.5% from 0.2% in 2016, and, at the  same time, corporate insurance growth slowed to 8.5% from 12.1% in  2016.  Before the introduction of OSAGO in Armenia, as well as  compulsory individual health insurance of state employees, the share  of corporate insurance significantly prevailed over retail.

GREECE: NBG gives Exin until late March for Ethniki Insurance

The management of National Bank of Greece is considering waiting out the nine-month period of the provisional agreement with Exin Financial Services Holdings BV for the sale of Ethniki Insurance to see whether the deal falls through.

Allianz to acquire Janashakthi General Insurance Limited in Sri Lanka

Allianz, the global financial services leader, announced that it has entered into an agreement with Janashakthi Insurance PLC ("JINS") to acquire 100 percent of its subsidiary Janashakthi General Insurance Limited ("JGIL") for 16.4 billion Sri Lankan rupees (85.9 million euros).