TURKMENISTAN: Compulsory TPL insurance of the companies which may endager environment has came into force
The law on environmental safety came into force in Turkmenistan. The new legal act stipulates compulsory insurance of civil liability of enterprises and industries that are a source of increased environmental danger.
TURKMENISTAN: The insurance penetration degree remains at a low level in GDP, 0.20% (2012-2014)
According to the XPRIMM estimates, the insurance penetration degree remains at a low level in GDP, 0.20% (2012-2014).
TURKMENISTAN: Steps forward to create a single insurance information network
The State Insurance Organization of Turkmenistan, for the time being the sole insurance entity in the country, is completing the creation of a single information network, TREND news agency reported. The Turkmen State Insurance Organization has an extensive network in the country of more than 40 offices and is currently taken steps to expand its partnerships with leading international insurance, reinsurance companies and insurance brokers.
Turkmenistan launches the entities to supervise the privatization of state property
Turkmen President Gurbanguly BERDIMUHAMEDOV signed a decree on the establishment of relevant interdepartmental central committee at the Ministry of Economy and Development of Turkmenistan for the execution of the law "On denationalization and privatization of state property", TREND News Agency reported on August 1st.
TURKMENISTAN: A chance for the insurance market demonopolisation in 2014
Starting July 1st, 2014 in Turkmenistan the process of demonopolisation and privatisation of state property will begin, in accordance with the law adopted in December 2013 by the Turkmen Parliament. The new law enforcement also addresses the development of the insurance industry, as it allows the entrance of private capital in this area of business, previously completely controlled by the State through a state monopoly insurance company (The State insurance Company of Turkmenistan).
TURKMENISTAN is preparing to launch a new insurance company
In the near future will be launched a new player on the insurance market of Turkmenistan, informed the local media. The company name will be ATIYACLANDYRYS Hyzmatlary ("Insurance Services"), and will have the following local entities as shareholders: TURKMENGAS (25%% stake in share capital as a founder), TURKMENISTAN Airlines (with a share of 15% of the authorized capital) and State Insurance of Turkmenistan (with a share of 10%).
TURKMENISTAN, FY2011: Figures showing the "local appetite" for insurance
In 2011 the gross premium written in Turkmenistan was of EUR 45.7 million, 15% more as compared to a year before. By insurance classes, voluntary segment predominated and represented 95% of total, a hardly usual situation for CIS Region. Looking at the past results, one should notice that the insurance market increased six times in last five years. Responsible for the development of the insurance industry is "the only one" company that operates: TURKMEN GOSSTRAKH which can be translated into "State Insurance Organization of Turkmenistan".
ON THE MOVE
Swiss Re appoints Archie KANE as non-executive Chairman at ReAssure
Swiss Re announced it appointed Archie KANE as the new non-executive Chairman of the Board of Directors of its UK-based closed book business ReAssure effective immediately.
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.
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.