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Consumer protection in Europe, analyzed during the European Consumer Protection Conference 2017
The consumer environment in the current European regulatory and economic landscape, upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and impact of technological advances in the field of financial services are just a few of the topics that were debated at the third edition of the European Consumer Protection Conference in Vienna, on February 16. Continuare
(16.02.2017)
MAIN TOPICS: The European Consumer Protection Conference 2017
Representatives of insurance and reinsurance companies, regulators, members of professional associations of insurance undertakings and distributors, as well as representatives of authorities and consumer associations gathered on February 16 in Vienna at the third edition of the European Consumer Protection Conference. Here are some of the main topics analyzed during the debates. Continuare
(16.02.2017)
IAIS names Jonathan DIXON as new Secretary General
The International Association of Insurance Supervisors (IAIS) has named Jonathan DIXON as the successor to long-time Secretary General Yoshihiro KAWAI. He will become Secretary General following the IAIS Annual Conference on 3 November 2017. Jonathan DIXON will join the Secretariat on 1 September as part of a two-month transition before taking over as Secretary General after the end of the IAIS's Annual Conference. Continuare
(16.02.2017)
NN Group appoints Satish BAPAT as CEO NN IP and Member of the Management Board NN Group
NN Group announced that starting 1 April 2017, Satish BAPAT will be appointed as CEO of NN Investment Partners (NN IP) and as a member of the Management Board of NN Group. Satish BAPAT succeeds Stan BECKERS, who joined NN Group as CEO of NN Investment Partners on 1 July 2013. "After 38 years in the financial services industry, Stan is retiring on 1 April 2017. He will stay on as a special advisor to the NN Group Management Board to help ensure a smooth transition", NN Group announced in a press release. Continuare
(16.02.2017)
KOREAN Re has sent its new employees in Thailand to help rebuild flood-affected areas
A group of KOREAN Re employees went on a six-day trip to Thailand to participate in a house-rebuilding project in the city devastated by floods. "This volunteer program, organized by the company for the fourth consecutive year, served as a great opportunity to raise awareness of the value of insurance among the employees", as the company announced in a press release. Continuare
(16.02.2017)
QATAR Re promotes internal candidates to CUO positions
The global multi-line reinsurer QATAR Re announced the promotions of Luke RODEN and Michael van der STRAATEN to Short and Long-Tail Chief Underwriting Officer (CUO) positions. Previously they were Deputy CUOs to Alastair SPEARE-COLE, who resigned earlier this month. Continuare
(16.02.2017)
A.M. Best published the list of the world's largest insurers
A.M. Best published its exclusive ranking of the world's 25 largest insurers, based on 2015 data, in the February issue of the Best's Review magazine. According to the report, the Japanese and Chinese companies were among the biggest gainers in terms of premiums, while life and multiple-line insurers led gains by assets. Continuare
(16.02.2017)
"IIF 2017 - New challenges for the CEE motor insurance industry" gathered industry professionals in Vienna
New European legislation, the customers' changing behaviour in the social media era, as well as the fast developing and somehow disruptive digitalization of the industry are among the current challenges that motor insurers face and represented some of the main topics debated during "IIF 2017 - New challenges for the CEE motor insurance industry", taking place on February 15, in Vienna, Austria. Continuare
(15.02.2017)
CONCLUSIONS: IIF 2017 - New challenges for the CEE motor insurance industry
Re/insurance professionals, market supervisors and IT experts from 25 countries participated on February 15 at IIF 2017 - New challenges for the CEE motor insurance industry. Here are some of the most important topics analyzed during the forum.

Continuare
(15.02.2017)
SCOR Global Life announced five promotions with immediate effect
The leading global life reinsurer SCOR Global Life announced that it has appointed Brona MAGEE, Brock ROBBINS, Tammy KAPELLER, Sean HARTLEY and Nicole BAIRD for new positions, with immediate effect. Continuare
(15.02.2017)
FITCH affirms and simultaneously withdraws Russian insurers' national ratings
On February 14 FITCH Ratings has affirmed and simultaneously withdrawn Russia-based JSC IC ALLIANZ's National Insurer Financial Strength (IFS) at 'AAA(rus)', Russia-based VSK Insurance Joint Stock Company's National IFS rating at 'A+(rus)', and AlfaStrakhovanie PLC (Russia)'s National IFS rating at 'AA-(rus)'. The Outlooks are Stable.  Continuare
(15.02.2017)
AIG names Robert SCHEINERMAN President, Group Retirement and appoints Todd SOLASH President, Individual Retirement
American International Group (AIG), announced that Robert SCHEINERMAN, currently President, Individual Retirement, will become President, Group Retirement. At the same time, Todd SOLASH has joined AIG as President, Individual Retirement. Robert SCHEINERMAN will continue to be based in Houston, where the Group Retirement business is headquartered, while Todd SOLASH will be based in Woodland Hills, California. Both will report directly to Jana W. GREER, President and CEO, Individual and Group Retirement, AIG. Continuare
(14.02.2017)
Innovation in insurance, one of the main topics debated during the "Insurance & Reinsurance Days" Conference
Innovations in insurance, new challenges for the Motor TPL insurers or the quality of insurance versus its profitability are just a few of the topics analyzed during the second edition of "Insurance & Reinsurance Days" Conference. The event, which will be held in Cracow, Poland, between the 7th and 8th of June, 2017, is organized by KONFOTEKA and supported by XPRIMM Publications as Media Partner. Continuare
(14.02.2017)
What are RECREX's development plans for 2017?
This year, RECREX continues to focus on the development of its two main operational segments: fraud detection and claims buffering, Daniela BADALUTA, President of the company, explained in an interview for XPRIMM Publications. Continuare
(14.02.2017)
BARENTS Re: Double digit increase in FSU & CEE operations; new head of the Moscow Representative Office appointed
FSU & CEE operations of BARENTS Re posted y-o-y stabile increase of over 25%, according to a company's recent statement for www.xprimm.com. The results were achieved through the reinsurer's representative office in Moscow, established 2 years ago. Continuare
(13.02.2017)

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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