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Register now at the IFRS 9 Implementation and Stress Testing MasterClass!
IFRS 9 will come into effect on 1 January 2018, which means that it is becoming crucial to get up to speed with the new regulations. Continuare
MMC Q2 revenue increases by 3% reflecting growth across all operating companies
The MARSH & McLENNAN Companies (MMC) reported Q2 2017 consolidated revenues of USD 3.5 billion, up by 3% y-o-y. The operating income increased by 5%, to USD 764 million, while the net income attributable to the company was USD 501 million (vs. USD 472 million in Q2 2016). Continuare
AON's net income more than doubled in Q2
The risk and insurance brokerage services provider AON reported a net income attributable to shareholders of USD 769 million (or USD 2.93 per share) for Q2 2017, compared to USD 300 million (USD 1.11 per share), for the prior year quarter. Continuare
After strong 1H results, ALLIANZ Group's operating result for 2017 expected to near EUR 10.8 billion
German ALLIANZ group achieved total revenues of EUR 30 billion, up by 2.0% y-o-y. All business segments contributed to this increase with the majority coming from the Life and Health business segment. Continuare
Swiss Re, 1H2017: net income of USD 1.2 billion supported by the underwriting performance and good investment results
Swiss Re reported net income of USD 1.2 billion for 1H2017. The overall result was impacted by USD 360 million (net of retrocession and before tax) insurance claims in the aftermath of Cyclone Debbie in Australia. Continuare
MUNICH Re: EUR 733 million profit in Q2; 2017 profit guidance maintained at EUR 2 - 2.4 billion
MUNICH Re posted a consolidated profit for the first half-year of EUR 1,290 million entitling expectations for an annual result reaching the Group's 2017 profit guidance of EUR 2.0-2.4 billion. Continuare
GENERALI, 1H2017: improved net profit and operating result. Operating return on equity again above target
GENERALI Group's operating result rose by 4.1% to EUR 2,588 million in 1H2017, while the net profit increased to EUR 1,221 million. The Group's annualized operating RoE was of 13.6%, in line with the plan objective. Continuare
GENERALI sales its Panama business to ASSA Compania de Seguros
The GENERALI Group has entered into an agreement to sell its business in Panama. The transaction is part of its strategy to optimize its geographical presence, increase operational efficiency and improve capital allocation. Continuare
Insurance in the DIGITAL World: get ready for the future!
Smart phones have changed our use of time, money and leisure. Meanwhile, the IoT technologies have gone way beyond the "intelligent, connected fridge" that they were initially announcing. Connectivity has changed relationships globally, changing the way we work and potentially leading to a completely change in paradigm, both in the business and personal worlds. Continuare
Remi VRIGNAUD, head of Oliver BATE's chancellery, appointed as CEO of ALLIANZ Austria
Global insurer ALLIANZ announced it named Remi VRIGNAUD (currently head of ALLIANZ SE CEO's chancellery) as CEO of its Austrian subsidiary, Allianz Versicherung Continuare
AON to acquire UNIROBE MEEUS Groep from AEGON for EUR 295 million
AON Groep Nederland announced it has entered into an agreement to acquire UNIROBE MEEUS Groep - UMG (an independent financial advisory group) from AEGON for EUR 295 million. Continuare
AXA H1 net income up 1% to EUR 3.3 billion
AXA reported a 1% increase in net income for 1H2017 to EUR 3.3 billion, mainly driven by higher adjusted earnings (EUR 3.5 billion, up by 3%), a favourable change in the fair value of financial assets and lower restructuring costs. Continuare
EIG on track to meet the FY target after the 51% GWP increase in 1H 2017
The Bulgarian financial group EUROHOLD said its revenues from insurance business went up by 31.9% in 1H2017 to BGN 539.1 million (~EUR 276 million), while operating expenses increased by 31.3% to BGN 508.7 million (~EUR 261 million). Continuare
SCOR recorded a 6.2% net income growth in 1H 2017
The Paris based reinsurer SCOR has reported a net income of EUR 292 million for 1H 2017, up 6.2% y-o-y. "Excluding the impacts of the change in the Ogden rate and of reserve releases, the net income would be EUR 350 million in H1 2017", SCOR representatives said. Continuare
The ALLIANZ and LV= joint venture will create third largest personal insurer in the UK market
ALLIANZ Group and LIVERPOOL Victoria Friendly Society (LV=) have agreed to launch a joint venture and a longer-term strategic partnership in the UK, thus creating the third largest personal insurance company in the market. Continuare


STATISTICS: MOLDOVA, 1Q2017: Local insurers' business grew by 10.22% in the beginning of 2017
In 1Q2017, the total GWP collected by Moldavian insurance companies have reached to MDL 310.33 million, up by 9.12% y-o-y, according to the official data published by the market watchdog. Continuare
STATISTICS: MOLDOVA, FY2016: Growth supported by the MTPL rates
The total GWP by Moldova's insurance companies increased by 9.67%, to MLD 1,347.04 million (EUR 64.48 million) in 2016, according to the official data published by the supervisory authority - NCFM. Continuare
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
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
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
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
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
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

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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