UZBEKISTAN: in 2018 life paid claims jumped by 337% y-o-y
Based on the market results for 2018 life GWP were 3 times higher y-o-y and increased to UZS 417.2 billion. At that life paid claims demonstrated an extremely rapid growth (+337.1%) to UZS 264 billion, as UzReport wrote.
STATISTICS: UZBEKISTAN, FY2018: the market jumped by more than 79% in euro y-o-y
In 2018, the Uzbek insurance market went up by 76.31% y-o-y in local currency, and by 79.01% in euro, due to a more favorable exchange rate at the end of 2018, according to the market data, provided by the Ministry of Finance of the Republic.
UZBEKISTAN: MOI insurance broker to open an office in the country
MOI Insurance broker, one of the leaders in risk management, is opening a representative office in Uzbekistan - -MOI Insurance Brokers Asia, according to the Ministry of Finance of the country.
UZBEKISTAN: GWP of O'zbekinvest Hayot in 2018 amounted to UZS 101.2 billion, preliminary data show
According to the preliminary data, GWP growth rate of O'zbekinvest Hayot in 2018 amounted to 59% (UZS 101.2 billion), as the information agency UzReport wrote.
UZBEKISTAN: S&P assigned 'BB-' long-term and 'B' short-term ratings to Uzbekistan, outlook stable
On December 21, 2018 S&P Global Ratings assigned its 'BB-/B' long-term and short-term foreign and local currency sovereign credit ratings to Uzbekistan. The outlook is stable, as the agency informed.
STATISTICS: UZBEKISTAN, 3Q2018: voluntary insurance is still the market driver (+117%)
For 3 quarters Uzbek insurers generated GWP in the amount of almost UZS 1.2 trillion. At that voluntary classes collected UZS 984.4 billion from the total GWP, according to the data of the Ministry of Finance of Uzbekistan.
UZBEKISTAN: from January to September O'zbekinvest Hayot paid claims 88% more y-o-y
From January to September this year paid claims' growth rate of O'zbekinvest Hayot amounted to 88% y-o-y and reached UZS 49.6 billion, as UzReport informed.
UZBEKISTAN: from January to September O'zbekinvest Hayot paid 88% more y-o-y in claims
From January to September this year, the paid claims' growth rate of O'zbekinvest Hayot amounted to 88% y-o-y and reached UZS 49.6 billion, announced UzReport.
UZBEKISTAN: one of the key insurers - INGO-UZBEKISTAN celebrates 10 years of successful operations
INGO-UZBEKISTAN, one of the key local insurers, on October 25 celebrated 10 years of successful operations and 15 years of its parent company presence in the Uzbek insurance market.
UZBEKISTAN: ASIA Insurance posted an increase of over 120% on main insurance segments for the first 9 months of the year
ASIA Insurance, one of the leaders in the Uzbek insurance market, posted a 120.5% increase in premiums in the first 9 months of this year, in comparison to the same period from 2017, according to a recent press release from the insurer.
ON THE MOVE
Bulgaria: Boiko ATANASSOV appointed as FSC's head
The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.
RUSSIA: Alexander ZARETSKI steps down from the presidency at METLIFE
On April 1, 2019, Alexander ZARETSKI will step down from his presidency of METLIFE. According to the Company's Board of Directors, this decision was made for personal reasons. Gheorghe DIMITRU will take over as president, ASN wrote.
TALANX announced finalization of generational renewal at Board level
The German insurer TALANX announced the Supervisory Board has completed the generational shift at Board level.
New appointments within SCOR Global P&C; Michel BLANC is the new CEO of Reinsurance
In Reinsurance, SCOR Global P&C announces the following appointments, effective April 1, 2019:
ASIROM VIG names Wolfgang HAJEK new CFO
Romania-based ASIROM, part of Vienna Insurance Group (VIG), has appointed Wolfgang HAJEK as the new CFO.
Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9
10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.
Conclusions: TBILISI - the first Georgian International Insurance Conference
The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.
Did you book your seat at one of the key European events dedicated to property and cyber insurance?
Climate risks have always produced high impact events, causing material and human losses that often have remained in collective memory as reference points. On the other hand, cyber risks are just emerging, but they are already demonstrating a potentially catastrophic impact which still needs to be better understood and assessed.