Ukraine
Former Lemma director found murdered
A former director of collapsed unrated insurer Lemma has been found murdered at his home in the Ukraine.
Russia deemed a 'grave source' of political risk uncertainty for 2015
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.
Europe: Ukraine - a wait and see game
Will the recent and ongoing turmoil in Ukraine and the exit of Russian insurers from the region mean new opportunities for Western insurers?
UK firms warned over capitalising on Russian insurers’ exit from Ukraine
Conflict in the region tipped to push Ukrainian business westward
Atrium agrees to settle MH17 hull war loss
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 reportedly axing Ukraine riot covers
Russian insurer Ingosstrakh has reportedly reduced operations of its Ukrainian subsidiary Ingo Ukraine in the face of ongoing political instability.
Political risk cover becoming difficult in Ukraine and Russia, says Marsh
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.
Crimea crisis could cause rates increase as analysts predict strain on capacity
Commentators split on potential impact of sanctions against Russia.
Ukrainian market shows signs of strong recovery
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.
Coface report highlights uneven growth in CEE markets
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 sees premium growth of 9.5%
Vienna Insurance Group posted 9.5% premium growth in the in its preliminary full year results for 2012, published today.
BrokersLink adds 13 new members
BrokersLink today announced the addition of 13 new members at its fourth annual conference in Madrid.
Lemma Insurance Company downgraded
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.
Lemma faces liquidation after deterioration in finances
The Gibraltar Financial Services Commission has confirmed that Lemma Insurance Company has gone into liquidation.
Grant Thornton appointed as Gibraltar insurer Lemma goes into liquidation
Lemma Insurance Company has gone into liquidation, the Gibraltar Financial Services Commission has confirmed.
Hannover Re develops reinsurance for Ukraine market
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 penetration reaches 90% in Russia
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.
FSC in bid to wind up Lemma in Gibraltar
The Gibraltar Financial Services Commission has been granted leave to apply for the winding up for Gibraltar-based Lemma Europe, according to a report in The Gibraltar Chronicle.
UIB wins European solar deal as part of bid to double property porfolio
International reinsurance broker UIB has been appointed to provide reinsurance for the Activ Solar GmbH Solar Park in southern Ukraine.
UIB wins reinsurance contract for Europe's 'largest solar park'
International reinsurance broker UIB has secured a deal to provide reinsurance for the Activ Solar GmbH Solar Park in southern Ukraine.
13% growth in CEE helps VIG Group profit grow 7%
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.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Lemma downgraded over 'deteriorating Ukrainian economy'
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 sees 4.4% growth in 2011
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).