TOP NEWS
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by Daniela GHETU, 2023-09-14 The Romanian MTPL insurance market has a new player, after the Council of the Financial Supervisory Authority (A.S.F.) authorized, during the meeting on Tuesday, September 12, 2023, the company EAZY Asigurari S.A. to operate on this line of business.  More
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by Andrei VICTOR, 2023-09-11 Generali Group CEO Philippe Donnet was named "Best CEO" for the second consecutive year in the insurance sector in the 2023 edition of the All-Europe Executive Team annual ranking by Institutional Investor, the specialist magazine and independent research company in the field of international finance. More
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by Andrei VICTOR, 2023-09-11 Lloyd’s re/insurance marketplace reported H1 2023 underwriting profit of GBP 2.5 billion vs GBP 1.2 billion a year before, an investment return of GBP 1.8 billion (vs. GBP 3.1 billion loss) and a profit before tax of GBP 3.9 billion compared with loss of GBP 1.8 billion in H1 2022. More
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by Andrei VICTOR, 2023-09-11 Sanlam, Africa’s largest non-banking financial services provider, and Allianz, one of the world’s leading insurers and financial services providers announced that they have received regulatory approvals for the joint venture that will create the leading Pan-African non-banking financial services company with a presence in 27 countries in Africa. More
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by Marina MAGNAVAL, 2023-09-11 On the insurance market of Armenia, MTPL loss ratio has been at 64% for a year, which is much lower than 79% in January-July 2021 and 72% in the same period of 2019, ArmInfo wrote. More
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by Marina MAGNAVAL, 2023-09-11 During the period from January to July 2023, AZN 58.9 million (~EUR 31.49 million) of compulsory real estate insurance premiums were collected in Azerbaijan, ABC.AZ writes. More
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by Daniela GHETU, 2023-09-14 According to information provided on the Russian Union of Motor Insurers (RAMI) website, the first agreement was concluded by the Russian motor insurers’ association within the framework of the newly established Blue Card system, with the Belarusian Bureau of Transport Insurance and became effective on 2 September. More
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by Marina MAGNAVAL, 2023-09-11 The Service for Regulation and Supervision of the Financial Market under the Ministry of Economy and Commerce of the Kyrgyz Republic (Finnadzor) is taking part in the discussion on creation of a rating agency within the EAEU (Eurasian Economic Union), according to the Service’s website. More
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by Marina MAGNAVAL, 2023-09-11 Health insurance will be fully introduced throughout Uzbekistan by the end of 2026, according to the Presidential Decree. More
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MONTE CARLO |
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by Daniela GHETU, 2023-09-13 As each year, the most recent editorial products of XPRIMM are available at the "Rendez-Vous de Septembre" in Monte Carlo. This year, XPRIMM readers have the opportunity to get complimentary copies of the XPRIMM Insurance Report CEE, SEE & ex-USSR – FY2022, XPRIMM Motor Insurance Report FY2022 and the country report on the Romanian insurance market FY2022. More
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by Daniela GHETU, 2023-09-12 To grow and advance insurance offerings in the fast-changing market, the need for greater efficiency is becoming an increasingly relevant topic in the insurance industry. In this, data- and tech-driven solutions will play an important role. More
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by Daniela GHETU, 2023-09-12 P&C reinsurance is expected to grow in line with GDP, driven by new risk pools catalyzed by digitalization, higher risk awareness and increasing insurance penetration in emerging markets. Overall, Swiss Re’s analysts expect P&C reinsurance market’s growth to maintain a pace of about 5.4% annually (in USD) until 2032, reinsurers’ representatives stated at the Rendez-Vous de Septembre. More
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by Daniela GHETU, 2023-09-12 The market environment for reinsurers remains promising but faces heightened uncertainty, Munich Re said at Monte Carlo. In the period 2023–2025, the global reinsurance market is expected to see a slight uptick in real average annual growth, somewhat below 2020–2022 levels. Future growth is anticipated to be highest in Asia-Pacific and Latin America. More
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by Daniela GHETU, 2023-09-12 The non-life insurance industry is adjusting rapidly to the new higher interest rate era ushered in by the most intense monetary policy tightening since the 1980s. Swiss Re Institute expects 2023 to be a transition year – with improving profitability for non-life insurance globally, as the industry continues to adapt prices to an elevated risk landscape, while higher portfolio yields boost net investment income. More
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by Daniela GHETU, 2023-09-13 The global modeled average annual insured loss from NatCat is USD 133 billion, according to the latest analysis using Verisk’s extreme event solutions models. The insurance industry should expect total insured losses from natural catastrophes well in excess of USD 100 billion every year, while annual losses greater than USD 200 billion are also plausible. More
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by Daniela GHETU, 2023-09-14 Strikes and riots and civil commotions (SRCC) have escalated rapidly in recent years. In Monte Carlo, the big European reinsurers have reiterated their concern with regard to the increasing political volatility that is leading to an increasing incidence of SRCC events, with a serious potential of accumulation. More
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ON THE MOVE
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by Andrei VICTOR, 2023-09-11
Reinsurance broker Guy Carpenter part of Marsh McLennan announced the appointment of Julian Enoizi as CEO of Guy Carpenter Europe effective immediately. Julian Enoizi will be based in Europe and report to Laurent Rousseau, CEO of Guy Carpenter Europe, Middle East and Africa, and Global Capital Solutions. In this role Julian Enoizi will be responsible for leading Guy Carpenter’s broking operations across its European offices.
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by Andrei VICTOR, 2023-09-11
AIG announced that Lucy Fato will transition from her current role as Executive Vice President, General Counsel & Global Head of Communications and Government Affairs to Vice Chair at AIG, effective October 1, 2023.
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by Andrei VICTOR, 2023-09-11
Chubb announced the appointment of George N. Nikolaou as head of Chubb Business Services EMEA in Thessaloniki, Greece. “In this role, Nikolaou will be responsible for the Chubb technology center launched in late 2022, which will support the development of innovative technologies that enhance the customer experience, increase efficiency, and accelerate the company's digital transformation”.
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INTERVIEW
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by Daniela GHETU, 2023-09-14 ALLIANZ-TIRIAC is part of the German group ALLIANZ, one of the largest providers of financial and insurance services and the most valuable insurance brand in the world, according to the latest Interbrand assessment. In Romania, the company has been enjoying financial stability and customer trust for over 29 years. More
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STATISTICS |
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by Andrei VICTOR, 2023-09-13 Estonian insurers reported H1 2023 GWP worth EUR 318.8 million, 18.4% more compared with January-June 2022, according to the market figures published by the Estonian National Statistics Board. At the same time, the value of life & non-life paid claims and indemnities remained approximately around last year's value (~ EUR 200 million) More
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by Andrei VICTOR, 2023-09-13 The insurance market of Lithuania totaled EUR 712.6 million at end-June 2023, up by 19.1% y-o-y, according to the quarterly market figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims for insurance losses worth EUR 301.2 million, up by 21.7% y-o-y. More
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by Andrei VICTOR, 2023-09-13 Half year premiums underwritten by Greek insurers members of Hellenic Association of Insurance Companies (HAIC) totaled EUR 2.65 billion, up by 14% y-o-y according to end-June 2023 figures. More
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by Andrei VICTOR, 2023-09-13 The GWP of Turkish-based insurers increased by more than two times (+131.3%) on the year in the first six months of 2023, reaching TRY 210.3 billion (EUR 7.5 billion) vs. TRY 90.9 billion (EUR 5.2 billion), data of the Insurance Association of Turkey showed. More
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by Marina MAGNAVAL, 2023-09-11 The CIS regional insurance market* ended the first quarter of 2023 with an increase of almost 32% y-o-y, reaching EUR 8.08 billion, according to xprimm statistics. More
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by Marina MAGNAVAL, 2023-09-11 The Georgian insurance market ended the first quarter of 2023 with GEL 325.45 million (EUR 116.81 million), which in local currency is almost 22% more y-o-y, according to the Georgian Insurance Supervision Service. More
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by Marina MAGNAVAL, 2023-09-11 In 1H2023, the market grew by 17%, reaching GEL 590.99 million (EUR 206.70 million), according to the Georgian Insurance Supervision Service. More
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by Marina MAGNAVAL, 2023-09-13 The insurance market ended the first half of 2023 with RUB 1,073.12 billion (EUR 11.28 billion), which is 24% more y-o-y in rubles. However, in euros, it decreased by 29% due to a sharp change in exchange rate compared to the first half of 2022. Paid claims reached RUB 494.68 billion rubles (+17%)/EUR 5.20 billion, as follows from data published by the Central Bank. More
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EVENTS |
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CURRENT XPRIMM REPORTS
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