The past year has been full of contradictions for the Ukrainian insurance market. On one hand, on-and-off military conflict in the eastern regions contributed to depreciation of the hryvnia against the dollar, deepening the economic crisis that had been…
A former director of collapsed unrated insurer Lemma has been found murdered at his home in the Ukraine.
Risk analyst Verisk Maplecroft has flagged Russia as a "grave source" of political risk uncertainty for 2015 with a high risk the Russian government will attempt to maintain its authority through external conflicts.
Conflict in the region tipped to push Ukrainian business westward
Atrium Syndicate 609 has confirmed it is the lead hull war policy insurer for Malaysia Airlines and has agreed to settle that aspect of the MH17 loss.
Russian insurer Ingosstrakh has reportedly reduced operations of its Ukrainian subsidiary Ingo Ukraine in the face of ongoing political instability.
Insurers are pulling out of the political risk market in Russia and the Ukraine according to political risk experts at Marsh with existing policyholders facing increases on renewals.
Profitability in the Ukrainian non-life insurance sector has recovered strongly in recent years but standards of regulation and financial reporting continue to act as a drag on ratings, according to Fitch’s market update.
Most countries in Central and Eastern Europe are experiencing a slowdown in GDP growth, rising insolvency rates and high unemployment due to the economic crisis in the Eurozone, according to the latest Panorama report from credit insurer, Coface.
Vienna Insurance Group posted 9.5% premium growth in the in its preliminary full year results for 2012, published today.
BrokersLink today announced the addition of 13 new members at its fourth annual conference in Madrid.
Lemma Insurance Company of the Ukraine has had its issuer credit rating downgraded to 'bb' from 'bb+' and its financial strength rating of B (Fair) affirmed. The outlook for both ratings has been revised from stable to negative.
The Gibraltar Financial Services Commission has confirmed that Lemma Insurance Company has gone into liquidation.
German insurer Hannover Re has developed a bespoke reinsurance programme for the Ukranian market, according to a report by Romania-based news agency Xprimm.
Third-party motor liability gross premiums written by Russian insurers in 2011 reached RUB106bn (€2.61bn), a 15.2% increase on the year before, according to Russia's Motor Insurers' Association.
International reinsurance broker UIB has been appointed to provide reinsurance for the Activ Solar GmbH Solar Park in southern Ukraine.
The Vienna Insurance Group has posted a 7% increase in profit for the first half of 2012 compared to 2011, helped by a 13% growth in profit from Central and Eastern Europe.
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Ukranina insurer Lemma's financial strength rating has dropped to 'B' (fair) from 'B+' (good), reflecting economic deterioration and political uncertainty in its core Ukrainian market.
Uniqa group as increased it premiums by 4.4% to €5.37bn (2010: €5.14bn) and in the growth markets in Eastern Europe by 6.5% €1.08bn (2010: €1,02bn).
Global (re)insurer Ace has opened an office in the Ukrainian capital Kiev in order to foster relations with the local market and capitalise on the region’s growing economy.
For European financial services companies 2010 saw a return to profitability and a significant growth in turnover, with Polish, Hungarian and Ukrainian companies leading the way, according to Coface's top 500 rankings.
Uniqa has come top in The League of the Best International Economic Rating survey for non-life insurance.
AM Best Europe has removed the rating of Lemma Insurance Company from under review with negative implications and affirmed the financial strength rating of B+ (Good) and issuer credit rating of “bbb-”.