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FIRST AND THE ONLY ONE IN AZERBAIJAN

AzRe Reinsurance OJSC is the first and the only reinsurer on Azerbaijan market. The company was founded in 2007, total equity of the company as of January 01, 2018: AZN 77.3 million (~EUR 38.06 million) * and total assets exceed AZN 102.2 million (~EUR 50.33 million). Share capital of AzRe Reinsurance is AZN 50 million (~EUR 24.6 million). Net profit in 2017 was AZN 21.4 million (~EUR 10.53 million). Total income for 2017 was AZN 54.6 million (~EUR 26.88 million) and total expenses amounted to AZN 28.8 million (~EUR 14.18 million). Paid income tax amounted to AZN 4.4 million (~EUR 2.16 million) from the gross profit of AZN 25.8 million (~EUR 12.7 million). In 2017 reinsurer generated AZN 50.4 million (~EUR 24.81 million) of GWP. Market share is 43% of all outgoing reinsurance in Azerbaijan.

20.04.2018

VIG Re, FY2017: Profit before tax up by 5% y-o-y

VIG Re reported for 2017, on consolidated basis, GWP of EUR 459.9 million, up by 10.2% y-o-y. Premium growth was driven by the Property & Casualty segment which grew by 13.0% to EUR 422.4 million. Main markets which account for growth were CEE and DACH.

19.04.2018

EUROINS Insurance Group to acquire Ukrainian travel insurer ERV

Bulgaria-based EUROINS Insurance Group (EIG) announced is acquiring ERV Ukraine, the travel insurance business of Germany-based ERGO, part of German global reinsurer MUNICH Re. "The two companies have signed purchase agreements. The deal is expected to be finalized after obtaining regulatory approvals".

19.04.2018

Azerbaijani A-Qroup showed premium growth in the first quarter

A-Qroup based on its 2018 first quarter results saw a gross premium growth assessed at 13% - said the insurer's official report. Insurer's total premium volume amounted to AZN 1.83 million (EUR 0.87 million) in 1Q2018, thus exceeding the similar result of the previous year.

19.04.2018

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MARKETS & TRENDS

CEE, FY2017: GWP and paid claims increased at the same pace: 11.5%
The CEE insurance market saw a 11.5% y-o-y growth in 2017, statistical data gathered by XPRIMM show. Overall, GWP amounted to EUR 36.12 billion. With a similar increase, paid claims reached almost EUR 22 billion. The forthcoming issue of the XPRIMM Insurance Report for FY2017, to be launched on May 14, will present in depth information in this regard.

19.04.2018
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TOP EVENT

What re/insurance professionals are already on FIAR 2018's list of speakers?

Specialists from ICMIF - International Cooperative Mutual Insurance Federation and PensionsEurope, representatives of national insurance associations from Austria and Turkey, as well as professionals representing SWISS Re, GEN Re and AUDATEX are just a few of the speakers who have already confirmed their presence at FIAR 2018 - The International Insurance-Reinsurance Forum.

19.04.2018

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LIVE: Moscow, Russia: The XXII International Reinsurance Conference

The XXII International Reinsurance Conference has started today in Moscow, organized by Delovoy Format, with the support of the Russian Insurers Association. XPRIMM, the traditional Media Partner of the conference, has launched on the occasion the latest edition of its Insurance Profile Russia, providing for 2017 insurance statistical data.

11.04.2018

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The 4th edition of the European Consumer Protection Conference: Main conclusions

The European Consumer Protection Conference, taking place on Thursday, 22 March, in Prague, brought into debate the consumer environment in the current European regulatory and economic landscape, the upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and the impact of technological advances in the field of financial services.

22.03.2018

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ON THE MOVE

Zurich: leadership transition in EMEA business

Currently group CEO of AXA UK and Ireland, Amanda BLANC will also join the executive committee at ZURICH, with the handover scheduled to complete in the fourth quarter of 2018. BLANC is to succeed Gary SHAUGHNESSY as CEO of ZURICH Insurance's EMEA business.

12.04.2018



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Dr. Savvas TZANIS CEO, IMPERIAL Claims Services
Our customers are extremely happy with our services compared to their partners in Western Europe because they cannot understand them. It is definitely a matter of culture. With us, they feel that they can speak the same language and that we can understand them. So, our aim in the future will be to remain, invest and expand our activities in our region. We want to be a regional player. We try however to bring and apply in our region the best claims handling practices of the biggest loss adjusting groups in Europe they have.

INSURANCE & TECHNOLOGY

Tech-driven insurance solutions to help bridge the USD 180 billion protection gap
Tech-driven insurance solutions to help bridge the USD 180 billion protection gap
2017 was an extreme year for natural disasters, with total losses from natural and man-made disasters expected to amount to USD 306 billion - up from USD 187 billion in 2016. The recent disasters draw attention to the enormous gap between what's insured, and what's not - we call this the protection gap, reads an analysis published by Swiss Re as part World Economic Forum Annual Meeting. More


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