RUSSIA's VTB Bank's CEO: "Very, Very Dangerous to Invest in Cryptocurrencies"
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For the first half year 2018, Motor Hull GWP amounted to RUB 80.1 billion (+3.1% y-o-y). According to the Central Bank, Motor Hull premiums saw growth for the first time in the last 3 years (in 2016, for example, premiums decreased by 9%, in 2017 - 4.8%).
Under the new law on household insurance, insurers are ready to create a new platform to launch a federal information resource on household insurance, according to the head of the Information Systems Department of the Russian Association of Motor Insurers, Alexey SAMOSHIN.
The National rating agency RAEX confirmed the rating of RSHB-Insurance at ruAA with a stable forecast, wrote ASN portal. RSHB-Insurance is an all-lines insurer, a subsidiary of ROSSELKHOZ Bank, as well as the leader of agro insurance with a market share of 48.6% of all the class' GWP in the country, based on the 1H result.
The National rating agency RAEX improved rating of YUGORIA to ruA- with positive forecast. Before the insurer's rating level was ruBB+ with stable forecast, as ASN announced.
On September 3 this year, RGS Life changed its name to KAPITAL Life Insurance. This change will not have any consequences for clients. KAPITAL Life Insurance exercises its rights and retains its obligations under previously concluded contracts in full without restrictions, wrote ASN portal.
In August 2018, SBERBANK Life Insurance paid RUB 411 million* to its clients for 4,054 events. The biggest claim paid amounted to RUB 5.5 million, as confirmed by the insurer's press office.
The draft of a single automated system for home property insurance "Housing Property" is prepared, ARIA will be the system operator. The law, within which this project was developed, was signed on August 3, 2018.
For the first 7 months of 2018 MTPL premiums of local insurers decreased by 1% to RUB 129.9 billion* y-o-y, at that paid claims demonstrated a more rapid declining trend (- 29%) to RUB 79.7 billion, according to the data from the Russian Association of Motor Insurers (RAMI).
The home insurance penetration degree in Russia is quite low. According to the Director for retail insurance of INGOSSTRAKH Vitaliy KNYAGINICHEV - as of today, the total amount of insured housing property is 5-7%.
Preliminary data of the National Association of Agriculture Insurers (NAAI) for the first half of 2018 show that total number of livestock insurance contracts with state support increased from 97 to 143 (livestock enterprises), which according to Korney BIJDOV means growth ofby 47%.
Swiss Re announced that Andreas BERGER, currently Chief Regions & Markets Officer and a Board Member of the Management of Allianz Global Corporate & Specialty SE, will be appointed Corporate Solutions CEO and member of the executive committee effective April 1 2019.
Turkish reinsurer MILLI Re stated that Gokhan AKTAS has been appointed to the position of Manager of Foreign Inward Business on 01 September 2018.
Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.
On September 13, 2018, the Insurance Supervision Agency of Ljubljana organized its 4th conference on insurance. The subject of the event was Insurance in the Digital Future. Visit the event's web page to see the conference materials and photo gallery.
The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.
Only 5% of cyber losses are insured, estimates Christian Fuhrmann, chief executive of global clients/North America, Munich Re. Very complex by nature and continuously changing, cyber insurance is one of the biggest challenges for insurers, he said.
AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions.
The latest editions of the XPRIMM Motor Insurance Report and Property Insurance Report will be launched in Monte Carlo, at the 62th edition of the "Rendez-Vous de Septembre," one of the most important international events dedicated to insurers, reinsurers, brokers, and reinsurance consultants.
Hannover Re expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019 and promising opportunities for next year arising from digitalization, increased demand for coverage of cyber risks, as well as from various openings in the Asian growth markets.
Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.