XPRIMM News
Insurance Newsletter, No. 491, 26 March, 2020

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


TOP NEWS
CROATIA: the Zagreb earthquake drew attention once again on the low insurance coverage for Nat Cat
by Daniela GHETU, 2020-03-25
Although it is still early to know the insured losses recorded by Croatia after the 5.5 magnitude earthquake that hit Zagreb on Sunday, it seems that very few of the buildings and homes affected by the event are insured for the earthquake risk, so the impact on the local insurers' business will be modest.
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STATISTICS: CZECH REP., FY2019, CNB figures: Non-life insurance maintained the market dynamic in positive area
by Andrei Victor, 2020-03-26
The Czech National Bank - CNB most recent figures show that at the end of 2019 the local insurance industry totaled about CZK 165.92 billion (~EUR 6.53 billion), up by 6.63% y-o-y.
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Guy Carpenter enters into strategic partnership with RiskGenius
by press.release, 2020-03-26
Guy Carpenter announced that it has entered into a strategic relationship with RiskGenius, to revolutionize the detection and qualitative analysis of silent cyber exposure across various lines of business.
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TURKEY: new standardized calculation method introduced for the MTPL claims starting 1 April
by Daniela GHETU, 2020-03-25
As of 1 April, new provisions introduced in the general rules related to compulsory MTPL will take effect, providing for standardized criteria for the compensations calculation, a recent press release of the Insurance Association of Turkey (TSB) has announced.
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TURKEY: Over 8 milion homes still need to be covered by earthquake insurance
by Andrei Victor, 2020-03-25
More than 8 million residential properties in Turkey still need to be covered by earthquake insurance, according to Resit CAKAS, President of the Association of Insurance Agencies (SAB), informed Middle East Insurance Review. Resit CAKAS noted that at present, in Turkey approximately 9.6 million houses are insured.
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AZERBAIJAN: "updates" to the legislation of compulsory insurance are required
by Marina MAGNAVAL, 2020-03-26
In 2020 Azerbaijan is expecting changes in insurance legislation, especially related to compulsory insurance, according to the Chairman of the board, the Association of insurers of Azerbaijan, Azer ALIYEV, as Trend news agency informed.
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BELARUS: Fitch affirmed BELEXIMGARANT rating at 'B', stable outlook
by Marina MAGNAVAL, 2020-03-24
The international rating agency Fitch Ratings affirmed the rating of BELEXIMGARANT at 'B' with a stable outlook, BELTA reports with a reference to the agency's press release.
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STATISTICS: GEORGIA, FY2019: paid claims grew 5 times faster than GWP in local currency
by Marina MAGNAVAL, 2020-03-26
At the end of 2019, the Georgian insurance market recorded an increase of 15.27% y-o-y in local currency. The market GWP amounted to GEL 625 million (~EUR 195 million). At the same time, the paid claims jumped by more than 76% y-o-y (in GEL), as the data of the market supervisory authorities show.
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KAZAKHSTAN: Jan.-Feb. voluntary health insurance increased by 36% y-o-y amid a decline in segment's loss ratio
by Marina MAGNAVAL, 2020-03-24
GWP for voluntary health insurance in January-February increased by 36% y-o-y and amounted to KZT 13 billion (~EUR 30.9 million), while its market share (10.4%) remained mostly unchanged compared to previous year, Allinsurance.kz reports.
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STATISTICS: RUSSIA, FY2019: market GWP stagnated amid paid claims' rapid growth of 17%
by Marina MAGNAVAL, 2020-03-26
Market GWP at the end of 2019 remained almost unchanged y-o-y in local currency, amounting to RUB 1.48 trillion (~EUR 21.3 billion). At the same time, market paid claims increased by almost 17% (in local currency), to RUB 610 billion (~EUR 8.8 billion), as the data published by the Central Bank show.
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RUSSIA: the 3rd International Insurance and Reinsurance Congress postponed to July
by press.release, 2020-03-24
The International Insurance and Reinsurance Congress, including the 24th Annual Reinsurance Conference as previously scheduled on April 21-22, 2020, is postponed to July 2020, exact dates to be informed later. The event is supported by All-Russian Insurance Association.
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INSURERS ON THE COVID-19 FRONT
Romanian ASF to reduce 25% all the contributions due by the regulated entities until the state of emergency ceases
by Andrei Victor, 2020-03-25
Romanian ASF - The Financial Supervisory Authority informed it has decided to reduce by 25% all the contributions due by the regulated entities, after Romania's President has declared a state of emergency in response to the growing number of COVID-19 cases across the country.
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PZU will hand over 200 cars to medical services to help fight against coronavirus
by Daniela GHETU, 2020-03-25
PZU will hand over two hundred cars to medical services that deal with patients suspected of coronavirus infection. Fast and efficient transport is needed, among others to carry test samples from people in home quarantine.
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MAPFRE donates EUR 5 million to CSIC to accelerate COVID-19 research
by press.release, 2020-03-26
MAPFRE will donate five million euros to the Spanish National Research Council (CSIC) to accelerate research in Spain and, especially, investigations related to COVID-19. The contribution will allow a comprehensive study of this pandemic, deepen the knowledge of the virus and its transmission mechanisms, and promote not only a vaccine against it, but also a scientific basis to better protect the population against future pandemics.
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AZERBAIJAN: Insurers support customers that had to cancel their travel plans due to the Covid-19 crisis
by Daniela GHETU, 2020-03-25
Cancellation of international flights and restrictions to citizens for traveling abroad in Azerbaijan, in the Covid-19 pandemic context, have forced people to cancel their travel plans. Local insurers have decided to fully refund the travel insurance premiums for the cancelled contracts, Trend news agency reports.
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ARMENIA: INGO Armenia switched to remote service
by Marina MAGNAVAL, 2020-03-26
In view of the current situation related of coronavirus, INGO Armenia switched to the emergency mode of remote services, taking into account the decision of authorities to declare state of emergency and social responsibility to its clients, ArmInfo reported with reference to the insurer's press service.
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VIG

On the move
George WILLIAMS appointed Global Head of Client Support Services for Guy Carpenter & Co
by press.release, 2020-03-25
Guy Carpenter & Company, LLC, the global risk and reinsurance specialist and a business of Marsh & McLennan Companies, announced today that George WILLIAMS has been appointed as Managing Director, Global Head of Client Support Services, effective immediately.
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RMS appointed Michael Steel as Global Head of Business Development
by press.release, 2020-03-23
RMS, the world's leading catastrophe risk modeling company, announced the appointment of Michael Steel as Global Head of Business Development, joining the RMS Executive Committee.
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Gregor PILGRAM to become GENERALI Austria's new CEO
by Andrei Victor, 2020-03-25
GENERALI CEE informed as of 1 May 2020 Gregor PILGRAM will become Chairman of the Board of Directors and Chief Executive Officer of GENERALI Versicherung, as well as GENERALI Group's Country Manager in Austria.
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WTW appointed Susan Finbow as Global Head of FINEX Financial Institutions
by press.release, 2020-03-23
Willis Towers Watson announced the appointment of Susan Finbow as Global Head of FINEX (Financial, Executive and Professional Risks) Financial Institutions.
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Maarten PERQUIN to succeed Frans van der ENT as the Chairman of ACHMEA Pension & Life
by Andrei Victor, 2020-03-25
Maarten PERQUIN has been appointed as chairman of ACHMEA's Pension & Life division with effect from 1 May 2020. He is succeeding Frans van der ENT, who will be pursuing his career outside the company from this date.
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STATISTIC UPDATES
STATISTICS: RUSSIA, FY2019
STATISTICS: GEORGIA, FY2019
STATISTICS: CZECH REP., FY2019

ERGO
EUROINS

EVENTS
Global Insurance Forum
8 - 12 June 2020
New York, USA
Organizer: IIS - International Insurance Society
Media Partner: XPRIMM Publications
For details: events.internationalinsurance.org

Les Rendez-Vous de Septembre
12 -17 September 2020
Monte-Carlo, Monaco
For details: rvs-monte-carlo.com

9th AIDA Europe Conference
Zurich, Switzerland
17-18 September 2020
Organizer:?AIDA
Media Partner:?XPRIMM Publications
For details:?aidainsurance.org

WorldPensionSummit 2020
20-22 October 2020
Louwman Museum, The Hague, The Netherlands
Organizer:?P&I Events
Media Partner:?XPRIMM Publications
For details:?pionline.com/wps2020

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

DIA AMSTERDAM 2020
28-29 october, 2020
Amsterdam, The Netherlands
Organizer:?DIA
Media Partner:?XPRIMM Publications
For details:?next.digitalinsuranceagenda.com

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

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

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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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