Jean AZEMA, the CEO of the French insurer GROUPAMA, has left the
company's management, Thierry MARTEL being appointed in his place.more... (26.10.2011)
Reinsurers from the insurance program against earthquakes in Turkey
could be exempted from the claims payment due to the high degree of risk
retention that the Pool has in case of an earthquake. According to
sources from WILLIS Re, the broker who mediated the reinsurance program,
the limit of retention of EUR 175 million has not been reached.more... (25.10.2011)
VIENNA Insurance Group announced important changes in the Managing
Boards of the companies KOOPERATIVA poistovna, active in the insurance
markets in the Czech Republic and Slovakia, respectively.more... (24.10.2011)
The stable economic environment, little influenced by the global
economic crisis, as well as constant growths registered by the insurance
market lately give a note of optimism to the statements of Azerbaijani
insurance companies representatives on the forecasts for next year.more... (21.10.2011)
Less than a year since the implementation of the law regarding mandatory
MTPL insurance for Armenian drivers, the regulation rises
controversies, members of Parliament proposing the reduction of the
price of the policy: "Our main task is to ensure the system's security,
on the one hand, and the citizen's "wallet", on the other hand", said
Artsvik MINASYAN, DASHNAKTSUTYUN opposition party representative, quoted
by armbanks.am.more... (20.10.2011)
The aquisition price of Polish insurer WARTA (third insurer in the
market), owned by Belgium's KBC, is estimated at about EUR 233 million -
EUR 350 million, according to Polish financial daily PARKIET. According
to the quoted source, many renowned international insurance groups are
interested in the acquisition of the Polish insurer: ZURICH
(Switzerland), SAMPO (Japan), VIENNA Insurance Group (Austria), ALLIANZ
and TALANX (Germany), GENERALI (Italy) and AXA (France).more... (20.10.2011)
As of October 15th, the Motor Insurers' Union in Russia announced an
increase of about 9% of tariffs for international Green Card policies.
Prices for Green Card policies are reviewed quarterly and are reported
to the exchange rate EUR/RUB, according to Forinsurer portal.more... (18.10.2011)
After Romania, Poland and Georgia, VIG also announces the consolidation
of its presence on the Bulgarian insurance market, through the merger of
two companies specialized on the non-life segment: BULSTRAD (2nd place
in the market at the end of 1H/2011) and BULGARSKI IMOTI (10th place).more... (11.10.2011)
VIENNA Insurance Group, main shareholder of insurance companies GPI
Holding and IRAO in Georgia, plans to start the merger of the two
companies, so that the Austrian group will own over 25% of the market
share, according to representatives of the National Bank of Georgia.more... (10.10.2011)
According to preliminary data, the volume of gross premiums underwritten
by insurance companies that are part of the INGO group, in the first
six months of the year, amounted to RUB 39.8 billion (EUR 985.4
million), up by 11,3% compared to the same period in 2010; at the same
time, the claims paid by insurers fell by 2.6%, to RUB 25.0 billion (EUR
620.3 million).more... (07.10.2011)
UNITY Re, the leader of the reinsurance market in Russia, received the
financial strength rating of "B+" (Good) and an issuer credit rating of
"bbb-" from the international agency A.M. BEST, reads the press release
issued by the company. The outlook assigned to both ratings is stable.more... (30.09.2011)
VIENNA Insurance Group, the largest insurer in Central and Eastern
Europe, could begin next month the due-diligence process in the Polish
company WARTA, before making a concrete offer.more... (29.09.2011)
Polish insurance market totaled, in the first six months of the year, a total volume of underwritings of EUR 7.4 billion, up by 16% compared to 1H/2010. On the other hand, the claims value increased by about 3 percentage points, to EUR 4.8 billion, according to XPRIMM INSURANCE REPORT 1H/2011.more... (27.09.2011)
Insurance market in Croatia has counted, after the first six months of
the year, a total volume of gross written premiums of EUR 671 million,
down by 4.4% compared to 1H/2010. On the other hand, claims also fell by
about 2 percentage points, to EUR 287.6 million, according to XPRIMM
INSURANCE REPORT 1H/2011.more... (12.09.2011)
Gross written premiums for the ten companies that focused on general
liability lines, in the first six months of this year, have exceeded RUB
7.7 billion (EUR 185.5 million), up by 19.5% compared to the same
period in 2010, according to INTERFAX.more... (09.09.2011)
The total underwritings volume correspondent to the Hungarian insurance
market stood, after the first six months of this year, at the value of
EUR 1.61 billion, 4.4% more than in 1H/2010 - show data published by the
Financial Markets Supervisory Authority in Budapest. Calculated in
local currency, the insurance market experienced a recoil of 3.2%
(underwritings of HUF 429.5 billion), due to large differences in
EUR/HUF exchange rate. Also, for the analyzed period, the total claims
approved and paid by Hungarian insurers were about EUR 1.1 billion.more... (09.09.2011)
The total value of gross written premiums of insurance companies active
in the two administrative entities that make up Bosnia and Herzegovina
(Federation of Bosnia and Herzegovina and Republika Srpska) stood, in
the first six months of this year, to EUR 128.6 million, up by 5.2%
compared to January-June 2010. Also, 71% of total underwritings were
made in the Federation of Bosnia and Herzegovina (FBiH), the remaining
29% being registered in Republika Sprska (RS).more... (31.08.2011)
WILLIS Europe, a division of the global insurance broker WILLIS Group Holdings, has acquired 100 percent of the shares of Polish insurance broker, BROKERSKIE Centrum Ubezpieczeniowe AMA. The deal, effective immediately, will further strengthen WILLIS' presence in the country, in particular in the growing Employee Benefits and Construction sectors. Terms of the transaction are not disclosed.more... (30.08.2011)
The first six months of this year marked a 5% increase for the Albanian
insurance market, the total volume of underwritings reaching about EUR
30.4 million, according to preliminary results released by the Albanian
Financial Supervisory Authority.more... (30.08.2011)
The 11th International Yalta Finance Forum, one of the most important
events for the insurance and reinsurance markets in CEE region, will
take place on September 19-23, 2011. Traditionally, but also as a
partner in the Memorandum of cooperation previously signed with the
League of Insurance Companies of Ukraine, PRIMM - Insurance &
Pensions Magazine is Media Partner of this event, thus ensuring
promotion of the Eastern-European markets, strongly supported by LIOU.
The Yalta Finance Forum is organized by Business Strategy Centre
PERSPEKTIVA jointly with LIOU and other professional domestic and
foreign companies and associations.more... (29.08.2011)
"I am proud to lead this growth region for ALLIANZ and to build on the success to date that has been achieved. Today we have 7.5 million customers in the region, meaning that people see us as a trusted and reliable partner."Details
