STATISTICS: SERBIA, 3Q2018: Top 5 insurers covered about 80% of total market
In 3Q2018, the Serbian insurance market totaled RSD 74.6 billion (EUR 630 million), representing an increase of 5.2% on a year earlier, according to the statistics published by the National Bank of Serbia (NBS).
STATISTICS: SERBIA, 1H2018: almost 10% growth, driven by the MTPL and fire insurance lines
The Serbian insurance marked ended the first half year with GWP worth RSD 52.18 billion (EUR 442 million), 6,8% up y-o-y. Due to the modest appreciation of the Serbian Dinar against Euro, the market results denominated in European currency show a higher growth rate, of 9.35%.
A.M. Best assigns credit ratings to Dunav Re Company a.d.o. Belgrade
A.M. Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of "bb+" to Dunav Re Company a.d.o. Belgrade (Dunav Re) (Serbia), a subsidiary of Dunav Insurance Company j.s.c. Belgrade. (Dunav), a multi-line insurer operating in Serbia.
STATISTICS: SERBIA 1Q2018: Top 3 insurers accounted for almost two thirds of total market
The Serbian insurance market experienced a 2.4% y-o-y increase in Q1 GWP to RSD 24.7 billion (EUR 208 million), according to the NBS's (National Bank of Serbia) quarterly figures.
STATISTICS: SERBIA, FY2017: positive trend in business; changes in preparation of the regulatory side
Serbian insurance market ended 2017 with FWP worth EUR 785.8 million, 8.8% up y-o-y, a result supported in part also by the Serbian Dinar appreciation against the European currency. In local currency, the GWP growth was of only 4.4%. Most of the market growth came from the non-life insurance side, which saw a 11% increase in premiums, thus raising its weight in the market portfolio by about 1.5 percentage points.
SAVA Re acquires Serbian insurer ENERGOPROJEKT GARANT
Slovenian re/insurance group SAVA Re has acquired a 92.94% stake in Belgrade-based ENERGOPROJEKT GARANT, a small Serbian insurer specialising in construction and liability insurance.
Agroinsurance Conference: focus on the technical aspects of agroinsurance against drought and livestock disease
The "Agricultural Insurance, Reinsurance and Brokerage in the CIS, Europe and Asia" Conference will discuss the technical aspects and characteristic features of drought and livestock disease insurance programs. Representatives of Munich Re and TARSIM will share their own first-hand experience in drought crop insurance.
STATISTICS: SERBIA, 3Q2017: Motor insurance lines provided for almost half of the market growth in absolute terms
Serbian insurers' 3Q results show a 6.3% y-o-y increase in GWP (in local currency), to RSD 70.9 billion (EUR 594.1 million), almost half of the additional GWP volume being provided by the motor insurance lines.
STATISTICS: SERBIA, 1H2017: Positive trend and a stable porfolio structure
Serbian insurers ended 1H2017 with GWP up by 10.3% y-o-y, to EUR 404.2 million, a growth rate slightly helped by the local currency's appreciation. Denominated in Serbian Dinars, the market results show an 8.12% increase in premiums.
Serbia: Merger of Wiener Stadtische Osiguranje and the AXA companies successfully concluded
The merger between the Vienna Insurance Group (VIG) company Wiener Stadtische Osiguranje and the two AXA companies that were acquired in the previous year was concluded in August 2017.
ON THE MOVE
Guy Carpenter announces new division and senior appointments designed to deliver enhanced client value
Guy Carpenter & Company, LLC, a wholly owned subsidiary of Marsh & McLennan Companies, announced the formation of a new Global Capital Solutions Group and a series of new leadership appointments related to the Jardine Lloyd Thompson Group plc (JLT) acquisition.
MMC names new MERCER CEO and MMC Vice Chairman
Marsh & McLennan Companies (MMC) announced key leadership changes appointing new MERCER CEO and MMC Vice Chairman "to further its growth strategy".
ALLIANZ announced three executives appointments
German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.
Thomas MOTAMED elected to AIG BoD
The Board of Directors of American International Group elected Thomas Firouz MOTAMED as a Director, effective immediately.
Bozidar Ljubisavljevic to lead Marine Specialty for Howden Turkey, the Middle East & Africa
Howden, part of Hyperion Insurance Group, announced the appointment of Bozidar LJUBISAVLJEVIC as Regional Marine Practice leader for the Howden Turkey, the Middle East and Africa region (TMEA). He will be based in Dubai.
Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia
Insurance should be accessible to all social classes, regardless of their wealth and 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. The low insurance penetration rates across the region show the need for another approach.
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.