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Lloyd's has launched a new terrorism reinsurance solution for the Spanish multinational companies
It has been presented on September 28, at the Lloyd's Iberia office in Madrid, the new Consortium for International Terrorism Risks, led by Markel and 100% based on of the Lloyd's market capacity. The consortium backed by up to 7 Lloyds syndicates. Continuare
Register now for The Innovating Customer-Centric Insurance Marketing Conference! XPRIMM subscribers benefit from a special discount!
Future-focused insurance companies are rethinking business models and embracing new innovations to resonate with their target audiences. From technological advances and innovations to IoT, changing regulations and digital transformation... how can companies adapt their insurance marketing strategies to maximize growth opportunities and meet ever-evolving customer expectations? Continuare
CHUBB names Graham FULCHER Chief Actuary of its International General Insurance Business
CHUBB announced that Graham FULCHER has been appointed Chief Actuary for Overseas General Insurance, the company's international general insurance business. He succeeds Michael KESSLER, who was recently appointed Vice President, CHUBB Group and Chief Reinsurance Officer.   Continuare
MMC names Anthony K. ANDERSON to Board of Directors
Marsh & McLennan Companies (MMC) announced that Anthony K. ANDERSON has been elected to the Company's Board of Directors. "With Mr. ANDERSON'S election, the Company's Board consists of 11 directors", as MMC pointed out in a statement. Continuare
EUR 4 billion and counting - first governamental estimation of the earthquake losses in Central Italy
According to a recent statement of the Italian PM Mateo RENZI, the earthquake that has dramatically affected Italy on August 24 has caused losses of at least EUR 4 billion. However, the figure represents only a first estimate of the government, while the total losses are still being assessed. Continuare
The future paths of claims management under debate in Berlin
The works of the 3rd Annual Global Claims Management Conference have debuted today in Berlin, Germany, gathering top insurers and insurance brokers, as well as technology providers, legal consultants in a rish debate on the latest trend in the insurance claims management field. Continuare
Industry Executives meet in Barcelona for the Annual Life Insurance Conference 2016 organized by LIMRA EMEA
The Annual Life Insurance Conference, organized by LIMRA Europe Middle East Africa (EMEA), was held in Barcelona from the 25th to the 27th of September. This year, over 100 attendees from every corner of Europe, Middle East and Africa gathered in Barcelona to exchange and discuss innovative solutions and trends in the financial industry. Continuare
VIG: Romania is one of our core markets. We need the mid and long term perspective to get better
As MTPL, the most important insurance line in Romania, will be heavily influenced by the recent regulatory changes, for the VIENNA insurance Group (VIG), Romania remains a core market, among the top 5 within the group, said Roland GROLL, Member of the VIENNA Insurance Group Board, at a press conference organized in Bucharest. "Looking at the overall picture in Romania, from an economic point of view, it is extremely positive, especially if we compare it with other core markets. There are not many European countries which have such favorable environment", he added. Continuare
EIOPA: Public Hearing on the Insurance Distribution Directive
EIOPA announced a public hearing on its Consultation Paper​ on draft technical advice on possible delegated acts concerning the Insurance Distribution Directive (IDD), which will be held on 23 September 2016 (09:00 to 16:00 h CEST) in Frankfurt. The event will be streamed live on the event page on EIOPAs website. Continuare
ICAR 2016: Henning LUDOLPHS, Hannover Re talks about the ILS use in Nat Cat risks transferring
Henning LUDOLPHS, Managing Director, Retrocessions & Capital Markets, Hannover Re will explain the main aspects of the Insurance-Linked Securities (ILS) use in relation to the Nat Cat risks insurance at the forthcoming edition of the ICAR 2016 - International Catastrophic Risks Forum. Continuare
Hydra Meeting: Regulatory and tech challenges debated by the Greek insurance market
The 18th Annual Conference of insurers and brokers in Greece, organized by the Hellenic Association of Insurance Companies has kicked off today on the island of Hydra, gathering professionals from the local and international insurance marketa, as well as specialists from other related industries. Continuare
Register now to Baden - Baden XPRIMM Reception!
The Kurhaus Casino from Baden Baden will host on Sunday, October 23rd the 8th edition of the XPRIMM Reception. Continuare
Romanian MTPL legal framework modified by the government. See the most important changes
The Romanian government recently passed a law that will bring substantial changes to the local MTPL legal framework. It is the first law that was issued specifically for the MTPL sector, which was governed, until now, by the secondary legislation issued by the Financial Supervisory Authority. Continuare
Why is digital insurance the key to customer satisfaction?
Customer journeys that were purely digital had the highest overall satisfaction rate of 76%, while the traditional journeys scored the worst at only 57%. How to optimize the customer journey and allow a truly omnichannel experience? Continuare
AIR Worldwide's terrorism model expandd globally
Catastrophe risk modeling firm AIR Worldwide (AIR) announced that it has expanded the capabilities of its terrorism risk model to support scenario testing for the United States and 27 other select countries to help companies assess the impact of different attack scenarios on their portfolios and better manage their global terrorism risk. AIR Worldwide is a Verisk Analytics business. 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


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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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