TOP NEWS
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by Marina MAGNAVAL, 2024-11-12
An expert discussion organized by the Latvian Insurers Association (LAA) "Lessons for Latvia from the summer storm" took place on October 31. The president of LAA stated that the storm that took place in July of this year has set a new record in terms of insurance claims.
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by Marina MAGNAVAL, 2024-11-12
German KfW Development Bank is ready to provide funds, and the state will co-finance the agroinsurance program. According to the Armenian Minister of Economy Gevorg Papoyan, negotiations with the reinsurer are already underway, ArmInfo writes.
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by Marina MAGNAVAL, 2024-11-12
The Central Bank of Azerbaijan (CBA) has included the Turkish BMS Group Sigorta ve Reasurans Brokerligi company in the register of foreign insurers, reinsurers, and insurance brokers, Trend reports referring to the CBA.
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by Marina MAGNAVAL, 2024-11-12
Total assets of insurance (reinsurance) organizations of Kazakhstan from the beginning of the year to the end of September 2024 grew by 13.4%, reaching KZT 2.8 trillion (~EUR 5.23 billion), mainly as a result of the growth of income from insurance activities, Allinsurance.kz reports referring to the Agency for Regulation and Development of Financial Market of Kazakhstan.
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by Marina MAGNAVAL, 2024-11-12
The Moldovan government has approved amendments to the law on insurance and reinsurance activities, according to which insurance companies will be able to simultaneously hold licenses for life insurance and general insurance, bizlaw.md writes.
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by Marina MAGNAVAL, 2024-11-12
ARX, which is among top-5 insurers in Ukraine and operates in risk insurance, collected more than UAH 3.1 billion (~EUR 67.64 million) in premiums in the first 9 months of 2024, which is 14% more y-o-y. The company's paid claims amounted to almost UAH 1.3 billion/~EUR 28.36 million (+28% in UAH), Forinsurer writes.
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by Marina MAGNAVAL, 2024-11-12
The United Nations Development Program (UNDP), in cooperation with the National Agency of Perspective Projects of the Republic of Uzbekistan (NAPP), conducted a training for the insurance market regulator and insurance sector specialists. Prof. Karel van HULLE, Professor, KU Leuven - Goethe University Frankfurt, Germany was the lector of the training.
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by Marina MAGNAVAL, 2024-11-12
Generali was included once again by Forbes in the World’s Top Companies for Women list for its dedication to advancing women in the workplace, the company said.
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by Marina MAGNAVAL, 2024-11-12
NFP, an Aon company and a leading international insurance brokerage and consulting firm, announced its acquisition of HC Financial, a financial planning and corporate employee benefits advisory business based in Galway, Ireland, Aon said in its press-release.
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by Marina MAGNAVAL, 2024-11-12
KBC Group recorded a net profit of EUR 868 million in the third quarter of 2024. The insurance service result amounted to EUR 81 million (vs EUR 113 million and EUR 138 million in the previous and year-earlier quarters, respectively) and breaks down into EUR 45 million for non-life insurance and EUR 36 million for life insurance.
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by Daniela GHETU, 2024-11-14
Envelop Risk (“Envelop”), the data-driven reinsurance and analytics specialist, today announces the launch of Envelop Underwriting, which will encompass all existing underwriting activities: Envelop Risk Bermuda and Envelop at Lloyd’s, including the Envelop Risk SPA 1925.
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by Daniela GHETU, 2024-11-14
French group SCOR reported Q3 2024 net income of EUR -117 million, a figure adjusted by excluding the mark to market impact of the option on own shares. The result was driven by a negative insurance service result (ISR) in L&H reinsurance, partially offset by very strong P&C and Investments performances.
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ON THE MOVE
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by Daniela GHETU, 2024-11-14
Marsh McLennan appointed Jasminka Horvat Martinovi?, former director of the Croatian Association of Managers CROMA, as President of the Management Board of Marsh McLennan Croatia. She replaces Iva Rogovi? Leki? who left the company for GrECo Specialty, in Vienna.
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by Marina MAGNAVAL, 2024-11-12
Iva Rogovi? Leki?, former President of the Management Board of the Marsh brokerage house in Croatia, will take over the position of President of the Management Board in the competing company GrECo specialty with headquarters in Vienna, osiguranje.hr wrote.
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by Marina MAGNAVAL, 2024-11-12
Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan (MMC), announced the appointment of Alistair Fraser to the newly-created role of International Corporate & Commercial Leader, who, effective 1 January 2025, will report to Flavio Piccolomini, CEO, Marsh McLennan International, the company said.
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by Marina MAGNAVAL, 2024-11-12
Hannover Re Chief Executive Officer Jean-Jacques Henchoz will leave the Executive Board of Hannover Re on 31 March 2025 as he not extending his expiring contract at his own request.
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by Marina MAGNAVAL, 2024-11-12
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, announced the appointment of Nathan Adams as its Chief People Officer, who will join Lloyd’s early next year, and will become a member of Lloyd’s Executive Committee, the press-release said. Nathan will replace Sara Gomez, who will be retiring from Lloyd’s at the end of the year.
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by Marina MAGNAVAL, 2024-11-12
American International Group (AIG) announced that Courtney Leimkuhler, co-founder and Managing Partner of the venture fund, Springbank, has been elected to its Board of Directors as an independent Director, effective November 5, 2024, according to the press-release.
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EIOPA NEWS
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by Daniela GHETU, 2024-11-14
Risks in the European insurance sector are stable and overall, at medium levels, with pockets of vulnerabilities stemming from market volatility and real estate prices, EIOPA's October 2024 Insurance Risk Dashboard shows.
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MARKETS & TRENDS
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by Daniela GHETU, 2024-11-14
The Austrian Association of Insurers (VVO) urges a united response to tackle demographic shifts and escalating climate-driven natural disasters, whose impacts on Austria are deep and long-term. The insurance industry, as a partner to the state, can play a central role in addressing these challenges.
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INTERVIEW
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by Daniela GHETU, 2024-11-14
Through chapter service, volunteers can create meaningful impact within their local insurance communities, making a difference that extends beyond themselves. Employers recognize that a CPCU Society volunteer isn’t just building their own expertise - they’re bringing valuable knowledge and leadership skills back to their organizations.
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STATISTICS
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by Daniela GHETU, 2024-11-14
In the first three quarters of 2024, gross written premiums (GWP) in Albania's insurance market reached ALL 18,288 million, marking a 7.36% increase y-o-y. In European currency, the appreciation of the Albanian Lek against Euro, the market growth was of 15.9%, to EUR 185.15 million.
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by Daniela GHETU, 2024-11-14
Estonian insurers posted 9M 2024 aggregate GWP worth EUR 508.06 million, 6.52% more y-o-y, according to the market figures published by the Estonian National Statistics Board.
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by Marina MAGNAVAL, 2024-11-13
At the end of 3Q2024, the insurance sector of Armenia decreased by 1.50%, amounting to AMD 54.20 billion (EUR 125.09 million), according to the data of the Financial Rating of Insurance Companies provided to ArmInfo.
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EVENTS
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CURRENT XPRIMM REPORTS
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