XPRIMM News
Insurance Newsletter, No. 511, 13 August, 2020

Click here to subscribe!
Click here to unsubscribe!
www.xprimm.com

TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


INSURANCE & TECHNOLOGY
Swiss Re's "sigma 5/2020" - Insurers using machine intelligence are benefitting from faster claims settlement, cross selling and risk scoring
by press.release, 2020-08-12
Swiss Re's "sigma 5/2020" publication has just been published. The main focus of this report is on machine intelligence (MI) and other cutting-edge transformative technology (such as machine learning or artificial intelligence).
More

TOP NEWS
Swiss Re estimates 1H2020 global insured catastrophe losses at USD 31 billion
by press.release, 2020-08-12
Global economic losses from natural catastrophes and man-made disasters in the first half of 2020 were USD 75 billion, according to Swiss Re Institute's preliminary sigma estimates. That was up from the USD 57 billion for the same period a year earlier, but well below the average of first-half economic losses of the previous 10 years (USD 112 billion).
More

July 2020 Nat Cat stats from Aon: Most economic losses occurred in Asia
by Andrei Victor, 2020-08-10
Seasonal monsoon floods inflict USD 20 billion economic toll across parts of Asia in July, according to Impact Forecasting July 2020 Global Catastrophe Recap report prepared by Aon's catastrophe model development team.
More

VIG adjusts goodwill for Bulgaria, Croatia and Georgia by a total of EUR 120 million
by press.release, 2020-08-13
Based on the ESMA recommendation of May 2020 and the macroeconomic developments influenced by COVID-19, VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe executed an event-related impairment test at Group level.
More

Natural events, exchange rate differences and moral damages affected the H1 2020 CO Group profit by more than EUR 13 million
by Andrei Victor, 2020-08-10
For the first six months of 2020, CROATIA osiguranje Group reported GWP of HRK 1,867 million (~EUR 247 million), about 6% lower than last year. The combined ratio from the Group's regular operations is 91.8% and is almost one percentage point better than last year.
More

POLAND: VIG and C-Quadrat establish joint venture to offer asset management services
by Andrei Victor, 2020-08-13
C-Quadrat Investment and the Polish insurance companies of Vienna Insurance Group have founded "VIG C-Quadrat", a joint venture located in Warsaw.
More

ROMANIA: In Q1, gross claims paid by local insurers reached EUR 371 million, up 14.2% y-o-y
by Andreea RADU, 2020-08-13
In 1Q2020, Romanian insurers reported gross paid indemnities (excluding maturities and partial and total redemptions), cumulated for life and non-life insurance, to the amount of EUR 371 million, up 14.17% y-o-y. Excluding maturities and partial and total redemptions, the amount was of EUR 327.4 million.
More

Zurich Insurance Group, 1H2020: Net income stood at USD 1.2 billion
by press.release, 2020-08-13
For the first six months of 2020, Zurich Insurance Group (Zurich) reported a net income of USD 1,181 million, 42% lower year-on-year.
More

Aegon, 1H2020: Underlying earnings before tax, sustained by UK, International and Asset Management segments
by press.release, 2020-08-13
Aegon Group ended the first half of 2020 with a net income of EUR 202 million, 67% smaller when compared to the same period of 2019.
More

Aviva, 1H2020: Operating profit fell 12% to GBP 1.2 billion
by press.release, 2020-08-10
Between January-June 2020, Aviva secured a consolidated operating profit of GBP 1,225 million, 12% lower year-on-year (after converting to pound sterling). Basic earnings per share fell to 20.0 pence (1H2019: 28.2 pence).
More

AXA, 1H2020: Gross revenues decreased 2% to EUR 52 billion
by press.release, 2020-08-10
At the end of the first half of 2020, AXA Group registered total gross revenues in amount of EUR 52.4 billion, down 2% (at constant Forex) compared to 1H2019, reflecting a 4% growth during the first quarter of 2020 and a 10% decline in the second quarter in the context of Covid-19 pandemic.
More

Everest Re, 2Q2020: Total premiums earned rose 12.4%
by press.release, 2020-08-11
For the second quarter of 2020, for three months ended June 30, Everest Re Group ("Everest") reported a net income of USD 190.9 million, 42.7% lower when compared to the same period of prior year. For six months ended, from January to June 2020, the group's net income was USD 207.5 million (-69.8%).
More

MetLife, 2Q2020: Consolidated revenues decreased 13% to USD 10.4 billion
by press.release, 2020-08-11
For the second quarter of 2020, from April to June, MetLife announced a net income of USD 68 million, down 96% year-on-year (2Q2019: USD 1.7 billion). On a per share basis, net income was USD 0.07, compared to net income of USD 1.77 in the prior-year period.
More

NN Group, 1H2020: Net profit decreased in spite of rising operating result
by press.release, 2020-08-10
NN Group ended the first six months of 2020 with an operating result of EUR 926 million, 1.3% higher y-o-y. First half of 2019 benefited from EUR 67 million of private equity dividends, while the current half-year included EUR 16 million of private equity dividends and non-recurring benefits.
More

Sampo, 1H2020: Profit before tax stood at EUR 569 million, impacted by COVID-19 effects on financial markets
by press.release, 2020-08-11
For the first six months of 2020, Sampo Group recorded a profit before taxes of EUR 569 million, 42% lower than the same period of 2019. For the second quarter alone, Sampo Group's profit before taxes was EUR 407 million (-20%).
More

KAZAKHSTAN: net profit of insurers in the first half of 2020 increased by 80% y-o-y
by Marina MAGNAVAL, 2020-08-11
In 1H2020, insurance companies of Kazakhstan generated a total profit (before corporate income tax) worth KZT 70.7 billion (~EUR 0.16 billion*), which is 67.9% more y-o-y, Allinsurance.kz reports according to ranking.kz portal.
More Продолжение

RUSSIA: AM Best affirms ratings of INGOSSTRAKH
by Marina MAGNAVAL, 2020-08-11
AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of 'bbb' of INGOSSTRAKH company, outlook stable, according the information published by the rating agency.
More Продолжение

RUSSIA: the number of complaints against insurance companies decreased by 35% y-o-y in the first half of 2020
by Marina MAGNAVAL, 2020-08-11
In 1H2020, the Bank of Russia received only 15 thousand complaints against insurance companies, which is 34.7% less y-o-y. At the same time, the number of MTPL complaints amounted to 12 thousand of the total (-35.2%), the Bank said on its website.
More Продолжение


ON THE MOVE
HANNOVER Re CFO VOGEL to retire. HDI's JUNGSTHOFEL appointed new CFO
by Andrei Victor, 2020-08-10
Roland VOGEL, the CFO of German reinsurer Hannover Re, is retiring from the company on September 30th, 2020 after more than 30 years at the company. He will be succeeded by Clemens JUNGSTHOFEL, the current CFO of HDI Global SE.
More

CHUBB names Gina REBOLLAR Deputy General Counsel for Global Corporate Affairs
by Andrei Victor, 2020-08-10
CHUBB announced that Gina REBOLLAR has been named Deputy General Counsel, Global Corporate Affairs, with immediate effect. She succeeds Chris KEARNS, who is relocating to the West Coast to pursue other interests. Chris KEARNS will serve as a consultant to CHUBB through the end of 2020.
More

CHUBB appoints Paul KRUMP Vice Chairman, Global Underwriting and Claims
by Andrei Victor, 2020-08-13
CHUBB Limited announced the appointment of Paul KRUMP, currently Executive Vice President, CHUBB Group and President, North America Commercial and Personal Insurance, to Vice Chairman, Global Underwriting and Claims.
More

Banner-News-XPRIMM-Report-General

ON THE CORONAVIRUS FRONT
LLOYD's: COVID-19 brings intangible assets into full focus
by Andrei Victor, 2020-08-10
Intangible assets are an increasing proportion of companies' balance sheets, already accounting for as much as 85% of the total business value across industries according to estimates, show a report published by LLOYD's in collaboration with KPMG, urging businesses to pay attention to the new risk landscape that has evolved under COVID-19.
More

LLOYD's Lab selects ten new InsurTechs for fifth cohort focused on COVID-19 risks
by Andrei Victor, 2020-08-13
LLOYD's announced its new cohort of InsurTech disruptors that will join the LLOYD's Lab innovation accelerator programme, and includes start-ups who are focused on providing solutions to support the Market to respond to the COVID-19 pandemic.
More


VIG

guy-carpenter

belarus-re-3147653

STATISICS
STATISTICS: CEE Region, 1Q2020: the GWP volume remained, overall, at the 1Q2019 level
by Daniela GHETU, 2020-08-13
The CEE insurance market saw a rather stable Q1. Despite the beginning of the Coronavirus crisis, that impacted most markets starting the second half of March, GWP in the region remained at a stable level y-o-y, of EUR 9.95 billion (0.26% up y-o-y).
More

STATISTICS: ALBANIA, 1H2020: Insurers' January-June GWP compressed by 6.7% y-o-y
by Andrei Victor, 2020-08-13
According to the six months 2020 market statistics published by Albanian Financial Supervisory Authority (AFSA), the gross written premiums of Albanian insurers amounted to over ALL 7.54 billion (~EUR 60.67 million*), or 6.66% less compared to January-June 2019.
More

STATISTICS: ARMENIA, 1H2020: The economic crisis caused by pandemic squeezed market GWP by almost 8% y-o-y
by Marina MAGNAVAL, 2020-08-13
Armenian insurers ended 1H2020 with a 7.89% decline in GWP year-on-year. Total GWP amount was around AMD 24.28 billion (~EUR 44. 92 million*). Paid claims saw a decrease as well, going down by 4.74% y-o-y to AMD 11.3 billion, according to the results of insurance companies provided by ArmInfo.
More Продолжение

STATISTICS: AZERBAIJAN, 1H2020: Life insurance GWP increased by 19%, while its paid claims expanded by 164%
by Marina MAGNAVAL, 2020-08-13
Azerbaijani insurance sector ended the first half of 2020 with GWP worth of AZN 400.96 million (~EUR 209.87 million*), which is almost 11% more y-o-y, according to the latest data published by the Financial Markets Supervision Chamber of Azerbaijan (FIMSA).
More Продолжение

GIClogo100px

Dt_Rueck_300

ERGO
EUROINS

EVENTS

How Low We Can Go? Sustainable Insurance in an Uncertain World
4 September 2020
Hotel Union Ljubljana, Slovenia
Organizer:?The Insurance Supervision Agency of Slovenia (AZN)
Media Partner:?XPRIMM Publications
For details:?a-zn.si

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


OMNIASIG

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

DESTINE Broker

XPRIMM News