XPRIMM News
Insurance Newsletter, No. 488, 5 March, 2020

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


TOP NEWS
EUROINS, FY2019: net profit doubled to BGN 21 million
by press.release, 2020-03-02
Euroins Insurance Group (EIG) closed the year 2019 with a net profit of BGN 21.1 million (~EUR 10.8 million), 113% more year-on-year. The group's consolidated gross written premiums reached BGN 848 million (~EUR 433 million), 32% more compared to the same period of prior year.
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TRIGLAV, FY2019: consolidated profit before tax exceeded EUR 100 million
by press.release, 2020-03-03
During 2019, Triglav Group (TRIGLAV) generated a profit before tax of EUR 101 million, 4% more year-on-year. The insurer recorded premium growth across all insurance markets and all insurance segments; the consolidated gross premiums volume reached EUR 1,184 million, which is 11% more than the year before.
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SAVA, FY2019: group's net profit increased 17%, exceeding EUR 50 million
by press.release, 2020-03-02
During 2019, the Sava Insurance Group (SAVA) wrote nearly EUR 600 million in gross premiums and generated a net profit of EUR 50 million. Performance exceeded targets set for 2019, also thanks to a one-off income from a successful acquisition in Croatia, the company mentioned.
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STATISTICS: Lithuanian market exceeded the FY2019 CB projection by more than EUR 10 million
by Andrei Victor, 2020-03-05
The Lithuanian insurance market totaled EUR 945.2 million at the end of 2019, 7.6% more y-o-y. At the same time, insurance companies paid EUR 499.3 million in claims, or 10.3% more y-o-y, according to the market data published by the Central Bank.Per business lines, 28.6 % of the total GWP were written by life insurers (EUR 270.4 million), the rest were written by general insurers (EUR 674.8 million, or 71.4% of total GWP).
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ADRIS profits expanded by 13.4% last year
by Andrei Victor, 2020-03-03
CROATIA's osiguranje shareholder - the Rovinj based consortium ADRIS Grupa - with businesses in tourism, real estate, tobacco and food industry announced 2019 total revenues of HRK 6.1 billion (~EUR 813 million), which represents a 5% growth, while net profit stood at HRK 506 million (~EUR 67.5 million), which represents a 13.4% growth. Net profit after minority interest stood at HRK 402 million and was 31% higher than previous year's.
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DUNAV Osiguranje's gross profit almost doubled in 2019, the best result in the last three decades
by Daniela GHETU, 2020-03-05
In 2019, the year when it has celebrated 45 years of business under its current name, Serbian market's leader DUNAV Osiguranje recorded the best results in the last 30 years of its operations, Mirko PETROVIC, President of the Board, said at the Kopaonik Business Forum.
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VIG voted as "the most diverse company in Austria"
by Andrei Victor, 2020-03-03
Vienna Insurance Group (VIG) was number one in the BCG Gender Diversity Index Austria 2019 published by the Boston Consulting Group (BCG), as te Austrian insurer announced in a statement. The index analyses the gender balance and pay gaps in the managing and supervisory board for the 50 largest listed companies in Austria.
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PZU launches aid for Poles in connection with the coronavirus threat
by Daniela GHETU, 2020-03-05
PZU joins the fight against coronavirus in Poland, by offering free access to medical advice for all citizens whether they are PZU clients or not. PZU Zdrowie, one of the largest private medical operators, will provide free help to those who are worried about their health in connection with the threat of coronavirus.
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Rumors: GRAWE to expand its presence in Montenegro by acquiring non-life insurer SWISS osiguranje
by Andrei Victor, 2020-03-03
Austrian insurer GRAWE, which has made in the past year a number of acquisitions in Bosnia and Herzegovina, is considering to take similar actions in Montenegro throught its local subsidiary active only in life insurance market - GRAWE osiguranje, local media informed.
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Munich Re, FY2019: consolidated profit expanded 19.0% year-on-year
by press.release, 2020-03-02
At the end of 2019, Munich Re generated a profit of EUR 2,707 million, 19.0% more year-on-year. The operating result was up on the previous year to EUR 4,004 million (+7.5%), and the other non-operating result amounted to EUR (665) million (FY2018: EUR (639) million). The currency result totaled EUR 73 million (FY2018: EUR (39) million).
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ERGO, FY2019: group's consolidated result increased 22.6
by press.release, 2020-03-02
For year 2019, ERGO Group generated a consolidated profit amounting EUR 440 million, 22.6% more year-on-year, exceeding its profit guidance of EUR 400 million and staying well on track to meet the objectives of the ERGO Strategy Programme, as the group mentioned.
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NATIONWIDE and GENERALI announced Joint Venture to offer seamless multinational commercial insurance solutions
by Andrei Victor, 2020-03-03
NATIONWIDE Mutual Insurance Company (NATIONWIDE), one of the largest insurance and financial services companies in the United States, and GENERALI, one of the largest global insurance and asset management providers, through its P&C unit GENERALI Global Corporate & Commercial (GC&C), announced an innovative joint venture: the creation of N2G Worldwide Insurance Services, LLC (N2G) to support multinational solutions for international commercial clients.
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Joint meeting of Belarusian Nuclear Insurance Pool and Representatives of International Nuclear Insurance Pools, the General Purposes Committee (GPC)
by press.release, 2020-03-02
On 5 February 2020 a joint meeting of the members of Belarusian Nuclear Insurance Pool (Belarus Re, Belgosstrakh, Eximgarant of Belarus), the Ministry of Finance of the Republic of Belarus, the Ministry of Energy of the Republic of Belarus, RUE "Belarusian NPP" and representatives of international nuclear insurance pools, the General Purposes Committee (GPC), was held in Minsk. They discussed issues in respect to insurance & reinsurance coverage for risks arising from Belarusian NPP operation, as well as opportunities to enhance international cooperation in the field of Nuclear TPL, Property and CAR/EAR Reinsurance.
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Fitch Ratings affirms Russia, Kazakhstan, Georgia, Turkey, Bulgaria and Hungary
by press.release, 2020-03-03
During February 2020, Fitch Ratings, the leading provider of credit ratings, affirmed the ratings of Russia ('BBB'), Kazakhstan ('BBB'), Georgia ('BB'), Turkey ('BB-'), Bulgaria ('BBB') and Hungary ('BBB').
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STATISTICS: AZERBAIJAN, FY2019: life insurance caused negative market results (-6.43%)
by Marina MAGNAVAL, 2020-03-05
At the end of 2019, Azerbaijani market GWP decreased by 6.43% y-o-y in local currency, to AZN 681.18 million (EUR 357.85 million), while paid claims, on the contrary, saw a rapid growth (+25.47%), according to the regulator's data.
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RUSSIA: GWP of ROSGOSSTRAKH in 2019 increased by 16% y-o-y
by Marina MAGNAVAL, 2020-03-05
According to the insurer, GWP of ROSGOSSTRAKH in 2019 increased by 16% (over RUB 80 billion/~EUR 1.15 billion), and net profit - by 32.2%, to RUB 7.3 billion. Paid claims amounted to RUB 35.1 billion, and the company's equity reached RUB 52.3 billion, ASN news agency reports.
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RUSSIA: in 2019 GWP growth of RESO-Garantia exceeded 7%, but motor insurance in the company's portfolio decreased by more than 4%
by Marina MAGNAVAL, 2020-03-05
According to preliminary 2019 data, RESO-Garantia, which is included in TOP-10 market insurers, increased its GWP by 7.1% y-o-y, to RUB 98 billion (~EUR 1.41 billion). And growth rate of its paid claims reached 8% (RUB 48.8 billion/EUR 0.7 billion), ASN news agency reports.
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STATISTICS: UZBEKISTAN, FY2019: the share of voluntary insurance exceeded 86% in the market portfolio
by Marina MAGNAVAL, 2020-03-05
In 2019, the Uzbek insurance market grew by more than 41% in local currency, to UZS 2,313.09 billion (EUR 217.79 million). However, growth of paid claims at the same time reached 76.54%, according to the data, published by the Ministry of Finance of the Republic.
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UKRAINE: total number of concluded MTPL contracts in 2019 was a record during activity of MTIBU
by Marina MAGNAVAL, 2020-03-05
GWP of insurers-members of the Motor (transport) Insurance Bureau of Ukraine (MTIBU) in 2019 increased by 13.46% y-o-y, to UAH 5.1 billion (EUR 0.19 billion), according to the MTIBU Director General Volodymyr SHEVCHENKO.
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UKRAINE: captive insurance companies as a transformation model on the market
by Marina MAGNAVAL, 2020-03-05
Ukrainian insurance market will start working in accordance with the "split" law from January 1, 2021, said Alexander BEVZ, Director of the National Bank's licensing department, at the VI International Carpathian Insurance Conference.
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VIG
Second edition of the International Insurance Conference in Georgia awaits you in Tbilisi, on 30 April
by Daniela GHETU, 2020-03-05
Following the success of its first edition last year, the 2020 edition of the Georgian International Insurance Conference, organized by XPRIMM with the support of the Insurance State Supervision Service of Georgia, will take place in Tbilisi, on 30 April, addressing the most important issues lying ahead the local insurance industry, involving all relevant stakeholders.
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VIG

INTERVIEW
VIGInterview with Marina SHIPOVALOVA, General Director, InterConsult Info
by Marina MAGNAVAL, 2020-03-05
In the mid-term, introduction of online insurance and technologies will remain the market growth driver, since it will support development. Also, online claims settlement will create new opportunities for the insurance sector in terms of optimization and acceleration of the procedures, and, as a result, reduction of insurance products’ costs as well as expansion of the product portfolio.
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On the move
Sergio P. Ermotti to be nominated as Chairman of Swiss Re in 2021
by press.release, 2020-03-03
Swiss Re's Board of Directors will nominate Sergio P. Ermotti for election as a new, non-executive and independent member of the Board at the upcoming Annual General Meeting of shareholders (AGM) on 17 April 2020 for a one-year term of office. In 2021 he will be nominated to succeed Walter B. Kielholz as Chairman of the Board.
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AIG appoints ex LLOYD's Performance Management Director as CEO, International General Insurance
by Andrei Victor, 2020-03-03
AIG announced that Jon HANCOCK - ex LLOYD's Performance Management Director- has been appointed Chief Executive Officer, International General Insurance. He will join the company this spring, as AIG noted in a statement.
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guy-carpenter

belarus-re-3147653
TRUST RE

STATISTIC UPDATES
? STATISTICS: LITHUANIA, FY2019
STATISTICS: AZERBAIJAN, FY2019
STATISTICS: UZBEKISTAN, FY2019

ERGO
EUROINS

EVENTS
3rd Annual Managing Insurance Contracts under IFRS 17
11-13 March 2020
London, United Kingdom
Organizer:?marcus evans
Media Partner:?XPRIMM Publications
For details:?marcusevans-conferences-paneuropean.com

A New Era of Risks: Impact on business and property
1 April 2020
Belgrade, Serbia
Organizer: Sveoosiguranju.rs, Sveonovcu.rs
For details: konferencije-rizici.rs

IIF2020 - Motor Insurance Conference
6 April 2020
Bristol Hotel, Vienna, Austria
Organizer: XPRIMM
For details: internationalinsuranceforum.com


IIF2020 - Property Insurance Conference
7 April 2020
Bristol Hotel, Vienna, Austria
Organizer: XPRIMM
For details: internationalinsuranceforum.com


International Insurance-Reinsurance Congress
21-22 April 2020
Metropol Hotel, Moscow, Russia
Organizer: The Reinsurance Committee of All-Russian Insurance Association and DELOVOY Format Group as Co-organizer
Media Partner: XPRIMM Publications
For details: http://icir.ru/en/2020


Georgian International Insurance Conference
30 April 2020
Radison Blu Iveria Hotel, Tbilisi, Georgia
Organizer: XPRIMM
Official Publication: XPRIMM Publications
For details: xprimmevents.com


FIAR 2020 - International Insurance Reinsurance Forum
24-26 May 2020
Sinaia, Romania
Organizer: FIAR Consult & XPRIMM Publications


DIA AMSTERDAM 2020
23 - 25 June, 2020
Amsterdam, The Netherlands
Organizer:?DIA
Media Partner:?XPRIMM Publications
For details:?next.digitalinsuranceagenda.com


Baden Baden Meetings 2020
18 - 22 October 2020
Baden Baden, Germany
For details: www.baden-baden-reinsurance.de

OMNIASIG

CURRENT XPRIMM REPORTS
XPRIMM Ins. Report 1H2019
RUSSIA FY2018
KAZAKHSTAN 1H2019
TURKEY 1H2019
ROMANIA 1H2019
Motor Ins. Report FY2018
Property Ins. Report FY2018

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