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Seven new XPRIMM titles, launched at the Baden-Baden Meeting 2016
Seven new titles of the well-known XPRIMM Publications are available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in the main business meeting points. The specialized magazines present the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets. Continuare
BELARUS Re celebrates 10 years of successful activities
Founded in 2006, BELARUS Re will celebrate on November 4, 2016 its 10th Anniversary, under the slogan: "10 years inspiring your business growth". Continuare
Arevshat MELIKSETYAN appointed CEO of INGO Armenia
INGO Armenia has appointed Arevshat MELIKSETYAN as a new CEO, effective starting October 5, 2016. Arevshat MELIKSETYAN will take over the position of the former CEO Levon ALTUNYAN, who joined the Armenian govermental team, as Minister of Health. Continuare
European Commission calls for the public and private pensions providers' opinion on a potential EU personal pension framework
The European Commission has launched a public consultation on personal pensions. The consultation will enable the Commission to assess what can be done at EU level to support a wider choice of personal pensions competing across borders. As key players in capital markets, increasing investment in personal pensions is one of the priorities of the Capital Markets Union. They offer the potential to inject more savings into capital markets and channel additional financing to productive investments. Continuare
The Croatian Insurance Days preliminary program was published
The Croatian Insurance Bureau has released the preliminary program of the Croatian Insurance Days, the traditional annual gathering of the Croatian and the other Adriatic insurance market, organized in Opatija, between 9-11 November. Continuare
Consumer Protection, top priority for European authorities and driving factor of the insurance industry's reshape - under debate in Vienna next February
"Protection of consumers, investors and policyholders is the top priority for each European Supervisory Authority," pointed out Gabriel BERNARDINO, Chairman of EIOPA and of the Joint Committee of the three European Supervisory Authorities (EBA, ESMA, EIOPA- ESAs) on the occasion of the Steering Committee of the EU - U.S. Insurance Project hosted in Frankfurt on 19 October, a Public Forum to address the challenges of increased globalization of the insurance market and to define the areas of work for the coming year. Continuare
How to compete for customers in a price-sensitive motor insurance market - under debate in Vienna in the beginning of 2017
The price war, especially on the MTPL line, was a regional reality for years in the CEE, visibly affecting - among others, insurers' profitability. Lately it seems that the market gave off a little steam and in some markets MTPL prices have significantly increase. Albania, Hungary and Romania are probably the most relevant examples in this respect, with prices going up, in average, by 14 - 20%, shows the XPRIMM Motor Insurance Report autumn edition. Continuare
Constantinos HADJIGEORGIOU appointed TRUST Re's Group Corporate Services Officer
TRUST Re announced the appointment of Mr. Constantinos HADJIGEORGIOU as Group Corporate Services Officer (CSO), reporting to Group CEO Fadi AbuNahl. The appointment is effective starting October 1st, 2016. The new CSO also joined TRUST Re's Executive Council. Continuare
TRUST Re appoints Dr. Cherif Chentir to its Board of Directors
TRUST International Insurance and Reinsurance Company B.S.C. (c), TRUST Re, is delighted to announce the appointment of Dr. Cherif Chentir as an independent non-executive Director, effective September 2016 for a full 3-year term. The appointment was formally approved by the Central Bank of Bahrain. Continuare
Thomas Paul KULIK appointed CFO of the PZU Group and Memeber in the Management Board of PZU SA
On October 14, Thomas Paul KULIK has been appointed by the Supervisory Board of PZU SA as member of the Management Board of PZU SA, also acting as Chief Financial Officer of the PZU Group. Continuare
FAIRFAX expands its presence in the CEE with the aquistion of AIG's operations in the region; LatAm AIG's units also included in the deal
The Canadian based FAIRFAX Financial Holdings Limited ("Fairfax"), already an active player on the CEE markets, is expanding its presence in the region through a large scale acquisition agreement closed with American International Group, Inc. (AIG). Thus, FAIRFAX will acquire certain assets and renewal rights with respect to the portfolio of local business written by AIG Europe in the CEE; the deal also includes the transfer of AIG's LatAm and Turkish operations. Continuare
Alexander ANKEL to head ERGO International AG
Alexander ANKEL has been appointed as Chief Operating Officer (COO) of ERGO's international business, the German insurance group recently announced. Alexander ANKEL will assume the new responsibility on November 1, replacing Jochen MESSEMER who will leave the company at the end of the year. The appointment is subject to the usual reservations by the German Financial Supervisory Authority. Continuare
Ronnie CARROLL to head Western Europe Structured Solutions at WILLIS Re
WILLIS Re, the reinsurance division of WILLIS TOWERS WATSON, the global advisory, broking and solutions company, announced the appointment of Ronnie CARROLL as Head of Structured Solutions for Europe West and Senior UK Client Advisor. He will report directly to Alkis TSIMARATOS, Managing Director, Head of Europe West. Continuare
SAVA Re named new Chair of the Supervisory Board and Deputy Chair
Following the notice of resignation of Branko TOMAZIC as Chair and Member of the Supervisory board of SAVA Re, dated 11 October 2016, the Members of the Supervisory Board of the Slovenian Group, elected from among themselves Mateja Lovsin HERIC as Chair of the Supervisory Board and Slaven MICKOVIC as Deputy Chair.  Continuare
Yiannis KANTOROS appointed Chief Executive Officer INTERAMERICAN Greece
Yiannis KANTOROS has been appointed Chief Executive Officer (CEO) of INTERAMERICAN, ACHMEA's insurance company in Greece, effective 15 November 2016. Yiannis KANTOROS will take over the position of the current CEO of INTERAMERICAN George KOTSALOS, who announced end of April of this year that he would step down during the course of 2016. Yiannis KANTOROS has been active at Interamerican Greece as from 2000. Continuare


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
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
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
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
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
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
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.
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
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
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
MOLDOVA: In 1H2015 the share of mediated premiums by the brokerage companies rose to 31.3% of the total volume of GWP
In the first half of 2015, the premiums mediated by the Moldavian insurance brokerage companies went up by 13% y-o-y, to MDL 179.35 million, according to the official data published by the National Commission of Financial Market of Moldova. Continuare
MOLDOVA: Development of the risk-based supervision system of the non-banking financial markets supported by an EUR 1.3 million EU contribution
The European Union has launched a new Twinning Project in the field of prudential regulation and supervision of the non-banking financial market in Moldova, according to the official press-release published by the National Commission for Financial Markets. The project is financed by the European Union to the tune of EUR 1.3 million. Continuare
Alina OSOIANU is the new CEO of the Motor Insurers' Bureau of Moldova
The National Motor Insurers' Bureau of Moldova (BNAA) has recently elected a new executive staff. Thus, the new CEO is Alina OSOIANU. She will replace Mihai MANOLE who resigned from the top executive position. Continuare
Moldova avoids suspension from Green Card system. The CoB General Assembly decided to postpone the deadline until April 1st, 2016
2014 and the first half of the current year were one of the most difficult periods for the domestic insurance market due to the internal disputes in the National Bureau of Motor Insurers in Moldova between the members with rights to issue Green Card policies, namely, regarding the principle of internal organization and the lack of access by the local management to the funds of the bureau. Continuare
STATISTICS: Moldova: The value of paid claims by insurers decreased by 44% y-o-y
In the first six months of this year, the insurance companies of Republic of Moldova reported a total GWP volume of about MDL 573.17 million, down by half percent compared with the 1H2014 figures. About 93.72% of aggregated GWP volume was generated by the non-life classes, the remaining 6.28% being accounted by life policies. Continuare


IIF 2015 - Property Insurance in a Stormy Era

FIAR 2015 Conferences and Interviews

IIF 2015 - Motor Insurance - The road towards profitability

European Conference on Consumer Protection in Financial Services 2015

Baden-Baden Meetings 2014

FIAR 2014 Conferences and Interviews

IIF 2014 - The International Insurance Forum

European Conference on Consumer Protection in Financial Services

Baden-Baden XPRIMM Reception 2013

IIF 2013 - Motor Insurance

FIAR 2013 Conferences and Interviews

Interview of the week
Chairman of the Supervisory Board

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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