TOP NEWS
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by Daniela GHETU, 2023-11-22
“We are not in tranquil times. We are confronted almost daily with a new crisis. So much so that we could almost say that we are living in a state of permacrisis. But despite this, we – supervisors and also industry – are riding out the storm. Our sectors are resilient, sustainable and competitive,” said EIOPA’s Chairperson Petra HIELKEMA, in her keynote speech opening the EIOPA Conference on 21 November 2023.
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by Daniela GHETU, 2023-11-22
At the request of the Vienna Insurance Group (VIG), Gallup International examined risk competence in nine countries in Central and Eastern Europe (CEE). The representative study revealed clear deficits and widespread fallacies regarding financial security provided by state and social institutions.
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by , 2023-11-22
Insurance Europe and PensionsEurope welcome the measures included in the European Commission’s ESG (environmental, social and governance) Rating Regulation proposal, as it will lead to a significant enhancement in the transparency of ESG ratings, a press release issued by the two European professional bodies stated.
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by Daniela GHETU, 2023-11-22
On November 21, 2023, Vienna Insurance Group (VIG) signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which are currently held by the Hungarian state holding company Corvinus. After completion of the transaction, VIG's share in the holding company will increase from 55 to 90%.
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by Marina MAGNAVAL, 2023-11-22
Last year an increase in life bancassurance sales through banks was observed, while non-life bancassurance has still not returned to growth.
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by Andrei VICTOR, 2023-11-20
Slovenian insurance group Sava reported 3Q2023 13.7% y-o-y increase in business volume to EUR 711.2 million, while the net profit increased slightly to EUR 36.5 million (3Q2022: EUR 35.0 million), “a similar level to that of the first nine months of last year, despite this year’s major claim events”.
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by Marina MAGNAVAL, 2023-11-20
In the insurance market of Armenia, the growth of paid claims continues to accelerate and the GWP growth slows down, as a result market profits began to decline. At the end of 3Q2023, net profit decreased by 9.4% to AMD 3.2 billion (USD 8.2 million), according to the Financial Rating of Insurance Companies of Armenia, prepared by ArmInfo.
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by Marina MAGNAVAL, 2023-11-20
In the insurance market of Armenia, the MTPL loss ratio by November 1, 2023 reached 68% (vs 64% a year earlier), ArmInfo reports citing the data of the Bureau of Motor Insurers of Armenia.
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by Marina MAGNAVAL, 2023-11-20
Online claim settlement for all compulsory types of insurance and a simplified procedure for receiving insurance payments in MTPL (European Accident Statement) will be introduced in 2024, and will make the insurance process simpler and more transparent, Allinsurance.kz writes with reference to the Agency for Regulation and Development of the Financial Market.
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by Marina MAGNAVAL, 2023-11-20
Spitamen Insurance, out of 16 professional participants in the insurance market of Tajikistan, became the only insurance company that received the annual “Favorite Brand of Tajikistan” award in the insurance industry, ASIA-Plus Media Group reports.
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by Marina MAGNAVAL, 2023-11-20
Based on the 3Q2023 results, 16 insurers out of 35 MTIBU-members (Motor (Transport) Insurance Bureau of Ukraine) have the highest ratings based on all indicators of the bureau’s report. Only 3 insurance companies received a low rating for the “Quality of claim settlement”, Forinsurer reports.
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by Daniela GHETU, 2023-11-22
Marsh McLennan, in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, announced the launch of a new facility – Unity – to provide affordable insurance supporting the export of grain and other critical food supplies globally from Ukraine’s Black Sea ports.
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by Andrei VICTOR, 2023-11-20
Austrian insurance group UNIQA informed that the international rating agency Standard & Poor's (S&P) confirms UNIQA’s rating in its current report: the "A" ratings for UNIQA Osterreich Versicherungen AG and UNIQA Re AG and the "A-" rating for UNIQA Insurance Group AG, all with a stable outlook.
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INTERVIEW
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by Daniela GHETU, 2023-11-22
“Over the years, since the establishment of the Green Card System, the situation of road accident victims has significantly improved.
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MARKETS & TRENDS
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by Daniela GHETU, 2023-11-22
Total premium growth is forecast at 2.2% annually on average for the next two years, higher than the average of the past five years, the latest sigma research reads, also emphasizing that there are reasons for optimism in profitability terms. However, geopolitical evolution remains challenging for the global economy.
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STAND BY UKRAINE
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by Andrei VICTOR, 2023-11-20
Global re/insurance broker Marsh McLennan (MMC) in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, announced the launch of a new facility – Unity – to provide affordable insurance supporting the export of grain and other critical food supplies globally from Ukraine’s Black Sea ports.
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STATISTICS
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by Andrei VICTOR, 2023-11-20
The insurance market of Bosnia and Herzegovina Q3 2023 with aggregate GWP worth BAM 744.2 million (~EUR 380.5 million) vs. BAM 668.6 million (~EUR 341.8 million) a year before, according to the January-September 2023 market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.
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ON THE MOVE
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by Andrei VICTOR, 2023-11-20
Global broker Aon informed that it has appointed Eduardo Davila as senior advisor to Aon CEO Greg Case. Davila recently transitioned out of his role as CEO of EMEA to take this senior advisor position, having previously served as CEO of Iberia and the Middle East.
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by Andrei VICTOR, 2023-11-20
AIG - American International Group announced that Roshan Navagamuwa will be joining AIG in December and has been named Executive Vice President and Chief Information Officer, effective January 1, 2024. He will report to Peter Zaffino, AIG Chairman & Chief Executive Officer, and serve on AIG’s Executive Leadership Team.
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by Daniela GHETU, 2023-11-22
Marsh announced the appointment of Nick Faull as Head of Climate and Sustainability Risk, effective 1 April 2022. Based in London, Mr. Faull will report to Amy Barnes, Head of Climate and Sustainability Strategy, Marsh.
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CURRENT XPRIMM REPORTS
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