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Insurance

EULER HERMES appoints Kamelia POPOVA as Country Manager for Bulgaria
​The German trade credit insurer EULER HERMES announced it has appointed Kamelia POPOVA as Country Manager for Bulgaria, reporting to Ed GOOS, EULER HERMES CEO of Central & Eastern European Countries. Continuare
(19.01.2017)
Romanian MTPL subsegment supported the EIG's business positive trend
Bulgarian-based EUROINS Insurance Group (EIG) reported preliminary GWP of EUR 268 million during 2016, 16% more y-o-y, according to a press release published by its owner, the financial holding EUROHOLD.
Continuare
(19.01.2017)
OCTO Telematics joins the exquisite IIF 2017 team of speakers which will analyze the motor insurance trends
Telematics are definitely improving the motor insurance bottom line, both through the self-selection effects on customer acquisition and material savings related to claims settlement. In addition, it provides the benefit of introducing value-added services around the driver journey, establishing a new type of relation between insurers and their customers, with positive effects on customers' loyalty. Continuare
(19.01.2017)
Aon Benfield: Earthquake and severe weather — combined for 70% of all economic losses in 2016
Aon Benfield's catastrophe model development team has launched its 2016 Annual Global Climate and Catastrophe Report, which evaluates the impact of the natural disaster events that occurred worldwide during the last 12 months to promote awareness and enhance resilience. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc. Continuare
(19.01.2017)
Italy hit again by earthquakes; 30 possible victims in a hotel buried by an quake-triggered avalanche
Four earthquakes of over 5 degrees Richer magnitude hit Central Italy in less than four hours Wednesday morning, followed by tens of aftershocks, once again affecting the same mountainous region deadly struck by tremors in August and October 2016. The earthquakes were string enough to be felt in Rome, as well as in the regions of Toscana, Campania and Emilia. Continuare
(19.01.2017)
STATISTICS: ROMANIA, 3Q2016: Double digit GWP growth supported by the raising MTPL tariffs
The Romanian insurance market ended the first three quarters of 2016 with GWP amounting to EUR 1.53 billion, 10.6% up y-o-y, supported by the significant increase in the MTPL prices recorded in the first part of the year. Continuare
(19.01.2017)
A.M. Best Assigns Credit Ratings to PASHA Insurance OJSC
On January 17, A.M. Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" to the Azeri PASHA Insurance OJSC (PASHA Insurance). The outlook assigned to these Credit Ratings (ratings) is stable. PASHA Insurance is a wholly owned subsidiary of PASHA Holding LLC, a diversified group also based in Azerbaijan. Continuare
(18.01.2017)
FITCH: Abolishing collateral will aid transatlantic reinsurance
Abolishing regulatory requirements for EU and US reinsurers to post collateral for their transatlantic business is the most significant element of the recent bilateral EU-US agreement on insurance supervision, says Fitch Ratings in a press statement released on January 17th. Continuare
(18.01.2017)
Insurance Europe: Successful conclusion of EU-US bilateral agreement on (re)insurance welcomed
Following the successful conclusion of the bilateral agreement on (re)insurance between the EU and the US in January 2017, Cristina MIHAI, head of prudential regulation and international affairs at Insurance Europe, said:
"Insurance Europe welcomes the recent conclusion of the bilateral agreement on (re)insurance between the EU and the US, and supports the provisions foreseeing the removal of the discriminatory collateral requirements that EU reinsurers were subject to when placing business in the US. Insurance Europe has been very supportive of the EU-US regulatory dialogue and the negotiations of a bilateral agreement on (re)insurance led by the European Commission, and believes the recent conclusion demonstrates the strength of the relationship between the EU and the US.
Continuare
(18.01.2017)
CHUBB appoints Alf MULLER as Property and Technical Lines Director for Continental Europe
CHUBB today the appointment of Alf MULLER to the role of Property and Technical Lines Director for Continental Europe, as it continues to evolve its client offering in the property, powergen and construction insurance markets. Continuare
(18.01.2017)
Veronique WEILL to leave the AXA Group
After 10 years at AXA, Veronique WEILL, CEO of AXA Global Asset Management, Group Chief Customer Officer and a Member of the Management Committee of the AXA Group, has decided to leave the Group, as the French insurer announced in a press release. Continuare
(18.01.2017)
Renata Jungo BRUNGGER appointed in the Supervisory Board at MUNICH Re
Renata Jungo BRUNGGER (55) has been appointed to the Supervisory Board of Munich Re with effect from 3 January 2017. The Amtsgericht (Local Court) in Munich appointed Jungo BRUNGGER as the successor to Wolfgang Mayrhuber, who resigned his seat on the Supervisory Board on 31 December 2016. Continuare
(18.01.2017)
SCOR announces several appointments in the top level management team
French reinsurer SCOR announced on January 16, several appointments to Group's top management functions, with immediate effect. Continuare
(18.01.2017)
Miroslav SINGER - former Governor of Czech National Bank to join GENERALI Group
Miroslav SINGER (48), former Governor of Czech National Bank (CNB), has been appointed as Director for Institutional Affairs and Chief Economist of GENERALI CEE Holding with effect from 16 January 2017. He will also join the Supervisory Board of Czech market leader Ceska pojistovna - a GENERALI Group company - to become its chairman. Continuare
(18.01.2017)
BIBA pleads for a sectoral Brexit solution and no further increases of the Insurance Premium Tax and supervision costs
The British Insurance Brokers' Association (BIBA) has called for the government to commit to no further increases to Insurance Premium Tax (IPT) and to negotiate for single market access in the EU exit. BIBA has also called for the Financial Conduct Authority (FCA) to prioritise cost-effective supervision following a 70% increase in regulation costs for small insurance brokers, reads the latest association's press release. Continuare
(18.01.2017)

Moldova

MOLDOVA: Two Moldasig shareholders, forced by the NCFM to sell their shares
The National Commission of Financial Market (NCFM) has decided to sanction two shareholders of the insurance company Moldasig. Thus, the "WESNA" L.T.D. (4.99% share) and "ERWA" Limited (4.98% share) shareholders, have 3 months to sell their shares. Continuare
(20.12.2016)
MOLDOVA: Eight insurance companies risk losing their license
The National Commission of Financial Market (NCFM) has warned eight insurance companies from Moldova, that they could remain without license,  because of the irregularities detected. Continuare
(05.12.2016)
STATISTICS: Rep. of MOLDOVA, 3Q2016: GWP up by 11.58%, exceeding MDL 1 billion
In 3Q2016, the total GWP collected by Moldavian insurance companies have exceeded one billion MDL, up by 11.58% compared 3Q2015, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF). Continuare
(24.11.2016)
MOLDOVAN insurance companies fined by NCFM
Most of Moldovan insurance companies were fined by the National Commission of Financial Market (CNPF). The sanctions were imposed because they have not met the deadline for payment of compensation and preparing the minutes on prejudice. Continuare
(14.11.2016)
Moldova: GENERAL Asigurari is the newest player to enter the market
GENERAL Asigurari is the most recent player to enter the re/insurance market in Moldova. The Board of Directors of the National Commission of Financial Market has issued the prior approval of registration in this regard, according to official anouncement made by local supervisory authority. Continuare
(10.11.2016)
STATISTICS: Rep. of Moldova, 1H2016: GWP up by more than 9.5%, while claims increased by over 40%
The Moldavian insurance market has recorded in 1H2016, total GWP of MDL 628 million (EUR 28,2 million), increasing by 9,5% as compared with 1H2015, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF). In the European currency, company's GWP have seen a decrease of 0,49%, as a consequence of the national currency depreciation against the European one. Continuare
(18.08.2016)
MOLDOVA: Insurance company ASITO closes down!
Shareholders of ASITO insurance company have decided to close the company. The director of ASITO, Andrei Lupyri, has written a request to the Financial Market National Committee, with the request to take away the license. Continuare
(07.07.2016)
Moldova avoids suspension from the Green Card system
The General Assembly of the Council of Bureaux in Brussels decided on June 2 to revoke the suspension of the National Bureau of Motor Insurers of Moldova (BNAA) from the "Green Card" system. Continuare
(09.06.2016)
STATISTICS: Moldova: Insurance market grew by 12.1% in the first quarter
In the first three months of 2016, the total premiums of Moldova's insurance companies increased by 12.12%, up to MLD 284.41 million, compared to the same period of 2015, according to the official data published by the supervisory authority - NCFM. Continuare
(09.06.2016)
MOLDOVA: "Bomb" under the insurance system Green Card
On Friday, May, 13, 2016, the Board of Directors of the National Commission for Financial Market convoked urgently an extraordinary meeting. The reason was the imminent risk Moldova to be excluded from the international system of insurance Green Card, informs the Mold-Street. Continuare
(23.05.2016)
STATISTICS: MOLDAVIAN insurers reported a business volume of EUR 59 million at the end of 2015
At the end of December 2015, the Moldavian insurance market totaled MDL 1.2 billion (about EUR 58.8 million), up by 2.1% y-o-y, according to the preliminary statistics recently published by the market's supervisory authority. Claims paid by the 15 insurers that have reported operations totaled MDL 386.6 million (or EUR 18.5 million) - equivalent to 31% of the total GWP. Continuare
(14.04.2016)
MOLDOVA: Green Paper system is available for yet three months
Council of Bureaux (CoB), the European institution based in Brussels, manager of the international insurance system "Green Card", has decided to postpone the decision suspending the National Bureau of Motor Insurers of Moldova (NBMI) of the "Green Card" until the General meeting of its members, scheduled to take place in early June, reads a press release issued by the NBMI.
Continuare
(03.03.2016)
STATISTICS: MOLDOVA: All insurers have gained profit in the first 9 months
All 15 insurance companies active on the Moldavian insurance market have concluded the first nine months of the year with a positive balance, according to data published by the National Commission of Financial Market (NCFM). Continuare
(17.12.2015)
Starting April 1st, 2016, MOLDAVIAN drivers will not be able to buy Green Card insurance
Starting April 1st, 2016, Moldavian drivers will not be able to buy Green Card policies from local companies, according to the most recent decision taken by the National Bureau of Motor Insurers (BNAA). According BNAA's statistics, on December 7th, there were 39,589 valid Green Card policies issued by 10 authorized insurers. Continuare
(10.12.2015)
MOLDOVA 3Q2015: Stagnation in GWP, decreasing claims expenses
The GWP, in the first nine months, by the 15 Moldavian insurance companies active on the local market, totaled MDL 909.25 million (EUR 44.16 million), up by 1% y-o-y, according to the official data published by the National Commission of Financial Market of Moldova. Continuare
(12.11.2015)
 





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Interview of the week
Assen CHRISTOV Assen CHRISTOV
Chairman of the Supervisory Board
EUROHOLD

The economic environment and the insurance market are fully correlated. Healthy growth of the insurance business is hardly possible without economic growth. Of course, we have been an example of an expanding business in the times of economic downturn, but this expansion also comes along immense managerial and organizational efforts. Details




















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