Challenges on the Horizon

The insurance industry is set to face several daunting challenges in the months and years ahead, creating new risk and opportunity for insurers. We take a look at some of the most important themes facing the industry and ... More

Insurance companies raise profits

The Financial Supervisory Authority declared that the growth of income that insurance companies have collected by the increased price of vehicle insurance, a development that stabilizes the market. “40% might seem a ... More

Record-breaking price for car insurance

Car insurance price has increased overnight with 45%, reaching the highest historic level in the internal market. "We have been informed about this price increase. It is 19.800 ALL for cars with a motor lower than 1.6 liters, ... More

EBRD interested for Reinsurer Sava

The European Bank for Reconstruction and Development (EBRD) has decided to take part in the recapitalisation of Slovenian reinsurer Pozavarovalnica Sava, chief EBRD economist Erik Berglof confirmed in Istanbul on ... More

Groupama operations in Romania profitable in 2012

Operations of French group Groupama will reach the breakeven point in 2011 and will start making a profit in 2012, Groupama Asigurari General Manager Dennis Rousset stated during an economic forum. ‘The Groupama ... More

Groupama posts EUR 8 M loss in Romania for 2009

Groupama last year sustained (operating, before tax) losses of EUR 8 M, the figure being three times smaller than in 2008, a French group report issued yesterday and cited by Mediafax informs. In Romania, Groupama owns ... More

Grawe osiguranje among largest investors on BLSE

Banja Luka insurer Grawe osiguranje is gradually becoming one of the largest investors on the Banja Luka Stock Exchange. The company which is 100-per-cent owned by Austrian Grazer Wechselsitige Versicherung continues to invest ... More

EIG eyes Turkish insurance peer

Bulgaria’s insurance holding company Euroins Insurance Group is in talks over the acquisition of an unnamed Turkish insurer. The news was confirmed by executive director Zlatolina Mukova, who said talks are underway with a ... More

US insurance company buys Albanian firm

American Reserve Life Insurance Company has agreed to buy 61% of Albania’s state-owned insurance company Insig for €25 million ($32 million), the country’s Finance Ministry said in a statement Tuesday. The ... More

Securitas continues investments in Serbia

The biggest insurance company in Europe, Swedish Securitas, has taken over Serbian SCP International and plans to take over more companies in Serbia. The vice president of Securitas for Eastern Europe, Pavel Rafalski, said that ... More

HANFA clears capital increase in Velebit osiguranje

The Croatian Financial Services Supervisory Agency (HANFA) cleared the capital increase in Velebit osiguranje and Velebit zivotno osiguranje insurance companies, founded by Slovenian Zavarovalnica Maribor. The two companies need ... More

"Vienna Insurance Group" to buy all insurance activities of Erste bank for 1.4 billion EUR

- "Vienna Insurance Group" has signed contract with Erste bank on procurement of all insurance activities, including companies in Austria, Czech Republic, Slovakia, Hungary, Croatia and Romania, at the price of 1.4 billion EUR - ... More

Doverie Obedinen Holding buys nation's no.3 health insurer

The local Doverie Obedinen Holding (DOH) has acquired for an undisclosed amount a 90% stake in Medico 21, the nation's third largest health insurance fund, the company said in an official statement posted on ... More

Raiffeisen Mandatory Pension Fund’s portfolio close to EUR 1 billion

High yields of mandatory pension funds in Croatia managed to compensate low rate of contributions for pension savings, but in the coming years this will not be the case, says Damir Grbavac, CEO of Raiffeisen Mandatory Pension ... More

Fonsai rises 4.18% after acquisition in Serbia

Italian insurance group Fondiaria Sai has completed the acquisition of 83.32% in Serbiàs second biggest insurer DDOR Novi Sad, for 220mln euro, said Fausto Marchionni, CEO of the Italian insurer, which is controlled by the ... More

Signal Iduna to enter the Romanian health insurance market

The German financial insurance and services group Signal Iduna received the initial functioning authorization from the Commission responsible for Insurance Surveillance (CSA) and it starts, in a few months, activity in the ... More

"Delta holding" to enter insurance market in Montenegro by forming two independent companies

Company "Delta holding" will enter the insurance market in Montenegro by forming two independent companies, one of which will deal with property insurance - "Delta osiguranje", while the other will deal with life insurance - ... More

Generali purchased 16% of Hipotekarna Banka

The Italians paid EUR 10mn for a share chunk of Hipotekarna banka at issuing price of EUR 2,000 per share. The capital increase process was thus successfully completed. The capital of Hipotekarna Banka now amounts to EUR ... More

Greek insurer mulls Bulgarian expansion

The insurance arm of Greek financial group Aspis plans to set foot on the Bulgarian market through the acquisition of a local competitor, reports the Greek press. The Greek group is also interested in taking a stab at the ... More

Greek Banks eager to sell insurance stakes

According to sources from the greek banking sector, the Greek banks are eager to sell their participations in the insurance sector, because they burden their capital ratios, as stipulated by Basel II standards. For this reason, ... More