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.
STATISTICS: UZBEKISTAN, 1H 2018: voluntary insurance in local currency jumped by more than 116%, while in euro this growth amounted to about 4%
In the first half year, Uzbek insurers generated UZS 817.6 billion (EUR 89.12 million) of GWP, which in local currency means a y-o-y growth of 87.53%, while in euro the market GWP dropped by 10.19% due to significant depreciation of UZS against EUR, according to the data of the Ministry of Finance of Uzbekistan.
UZBEKISTAN: life paid claims' share in the first half of the year exceeded the share of non-life paid claims for the first time in local market history, amounting to 55%
According to the Ministry of Finance of Uzbekistan total paid claims went up by 27% to UZS 177.1 billion* in the first half of the year. With that, total GWP amounted to UZS 817.6 billion, 88% more than a year ago.
ON THE MOVE
AON appoints Lambros LAMBROU as global CEO of Commercial Risk Solutions
Global re/insurance broker AON has named veteran AON leader, Lambros LAMBROU as Global Chief Executive Officer (CEO) of its Commercial Risk Solutions division.
Peter CLARKE named VP & COO of FAIRFAX
FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.
ERGO Group appoints a Polish manager
Adam ROMAN, board member of Ergo Hestia (Poland), will hold the position of Head of Global P&C of the ERGO group, effective 1 March. His tasks will include supervision over property insurance of the group in the areas of underwriting, actuarial and pricing, as well as reinsurance.
Jad ARISS appointed Secretary General of The Geneva Association
Jad ARISS, currently Group Head of Public Affairs and Corporate Responsibility with AXA, has been appointed Secretary General of The Geneva Association, effective 1 March 2019.
TURKMENISTAN: new General Director of the State insurance organization appointed
Guvanch NURMUKHAMMEDOV has been appointed as the new General Director of the State insurance organization, the single insurance institute of Turkmenistan, as the State information agency of Turkmenistan wrote.
Inclusive Insurance - a creative solution to narrow the protection gap in the emerging markets of the Southeastern Europe
Insurance should be accessible to all social classes, regardless of their wealth & 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. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.
Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna
Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.
FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee
To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.