News

LITHUANIA: Property insurance disputes raised by 28% in 2018

The number of disputes between insurers and customers has raised mainly due to the low degree of customers' understanding over their insurance products, an analysis over the property insurance market recently published by Bank of Lithuania says.

21.02.2019

LATVIA: 2018 MTPL results were positive for insurers

Data collected by the Latvian Motor Insurers' Bureau (LTAB) shows that the 9 MTPL insurers from Latvia earned EUR 3.61 million revenues from this business line. It is the first time in the past 10 years when Latvian MTPL insurers profited from this type of business line.

21.02.2019

SCOR, FY2018: net income of EUR 322 million and 7% raise in GWP

The French re/insurance group SCOR has recorded GWP worth EUR 15,258 million in 2018, up 7.1% at constant exchange rates compared to 2017 (+3.2% at current exchange rates), a growth well balanced between the Life and P&C divisions and a "first" in its history.

20.02.2019

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ON THE MOVE

Supervisory Board Chair NN Group steps down

NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.

20.02.2019

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.

12.02.2019

TOP EVENT

Inclusive Insurance - just a week to the second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference in Skopje

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.

20.02.2019

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.

21.02.2019

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.

10.01.2019

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MARKETS & TRENDS

BI non-physical losses: the UK solution
With the Royal Assent being given to the Counter-Terrorism and Border Security Bill 2018 - allowing Pool Re to cover non-physical losses incurred following a terrorist attack -, the British market has set a precedent at global level, by finding solving a challenging issue born by the changed character of the terrorist attacks of the recent years.

14.02.2019
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(Infographic): 300+ Global insurers reveal next generation products and services
67% of the insurance peers agree that Machine Learning & AI will have huge impacts on how product innovation is shaped. How is your organisation set to take advantage of this, and become market leader?

07.02.2019
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Swiss Re: personal cyber insurance market will reach up USD 3.1 billion by 2025, if insurers' offer will meet customers' needs and preferences
Technology has become so ubiquitous, it is hard to live without it. It comes with huge advantages, but also risks - and there is an increasing role for insurers to play in protecting customers in the face of cyber threats, reads the latest Swiss Re white paper on cyber risks.

22.01.2019
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WEF's global Top 5 most concerning trends 2019: changing climate, cyber dependency and increasing social disparities and national sentiment
Rising geopolitical and geo-economic tensions are the most urgent risk in 2019, while environmental degradation is the long-term risk that defines our age, with four of the top five most impactful global risks in 2019 related to climate. Rapidly evolving cyber and technological threats are the most significant potential blind spots; we still do not fully appreciate the vulnerability of networked societies. These are some of the main conclusions of the World Economic Forum's Global Risks Report 2019.

18.01.2019
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2018 Global Risk Index: all threats are increasing; Nat Cat among the Top 3 classes of threats
Top three classes of threats putting at risk large shares of the global GDP in 2019 are Natural Catastrophes, Financial, Economics & Trade and Geopolitics & Security, shows the 2018 Global Risk Index, also emphasizing for the first time of the threats considered are increasing.

06.12.2018
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Global economic growth is solid but slowing, and emerging Asia will continue to power the insurance market, sigma says
Global premiums are forecast to grow by around 3% annually in 2019 and 2020, mostly driven by the high growth rates in emerging Asia which may be as by three times more than the global average. The economic power shift from west to east will drive insurance sector development to 2020 and beyond. Expanding the boundaries of insurability for corporate intangible assets will be another main growth area for insurers

22.11.2018
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INSURANCE & TECHNOLOGY

KPMG: a guide to Intelligent Automation implementation in insurance
Insurers need to think about Intelligent Automation (AI) not as a technology implementation, but as an end-to-end business transformation that will impact the business model, operating model and ecosystem, states a recent report launched by KPMG, "The Automated Insurer: Next steps on the journey to intelligent automation." More