XPRIMM News
Insurance Newsletter, No. 513, 27 August, 2020

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


TOP NEWS
Who were the winners of the 20th edition of the Romanian Insurance Market Awards Gala?
by Adina TUDOR, 2020-08-27
The 20th edition of the Romanian Insurance Market Awards Gala took place on Wednesday, 26 August, in an original format, which focused on maintaining all the safety requirements imposed by the threat of the global COVID-19 pandemic. The traditional event, organized yearly by XPRIMM, celebrates the best results of the local insurance companies, as well as the most innovative products and the best insurance professionals activating on the Romanian market.
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Vienna Insurance Group, 1H2020: GWP rose 2.4%, reaching almost EUR 5.6 billion
by press.release, 2020-08-27
Vienna Insurance Group ended the first six months of 2020 with a financial result (including the result from at equity consolidated companies) in amount of EUR 388 million (-8.3% year-on-year). The result before taxes was EUR 201 million (-21.8%), while the net result was EUR 126 million (-16.3%).
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VIG Re, 1H2020: GWP volume expanded by 13%, exceeding EUR 300 million threshold
by press.release, 2020-08-27
VIG Re, a reinsurance branch of Vienna Insurance Group, ended the first half of 2020 with a net profit of EUR 7.9 million, 23% lower when compared to the same period of 2019. The profit before tax was around EUR 10.2 million, 19% less year-on-year.
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Insurance Europe calls on EC to give more prominence to adaptation in EU climate change strategy
by press.release, 2020-08-24
Insurance Europe has published its response to a consultation by the European Commission on the EU's strategy for adaptation to climate change.
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Swiss Re: COVID-19 ups pressure on world resilience as global insurance protection gap reaches new high
by press.release, 2020-08-27
The COVID-19 pandemic is expected to reduce global macroeconomic resilience by about 20% in 2020 from 2019 levels as stimulus packages deplete countries' fiscal and monetary buffers around the world, the latest annual Swiss Re Institute resilience indexes report show.
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SLOVENIA: Insurance Supervision recommends to all supervised entities even after 1 October 2020 to suspend dividend payments
by Andrei Victor, 2020-08-24
Due to the uncertain situation regarding the spread of the COVID-19 epidemic and the consequent unclear impacts of the epidemic on the economy and the insurance industry, the Slovenian Insurance Supervision Agency recommends that insurance, reinsurance and pension companies even after 1 October 2020 suspend dividend payments.
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ALLIANZ Group opened earthquake & fire research center in Istanbul
by Andrei Victor, 2020-08-26
A new earthquake and fire research center in Turkey expands the family of Allianz Group's ALLIANZ Centers for Technology, the German insurer announced in a statement. It conducts earthquake, automotive, transport and fire tests, simulations and practical training in Istanbul.
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ALLIANZ Benelux and MONUMENT Re announce closed book portfolio transaction
by Andrei Victor, 2020-08-24
ALLIANZ Benelux (Belgium) and MONUMENT Re have agreed today to transfer a closed book of classical life retail insurances together with 4,500 mortgage loans to MONUMENT Assurance Belgium (MAB) and to transfer the related operations within 18 months after regulatory approvals.
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AXA and BHARTI to combine their non-life operations in India into ICICI Lombard
by Andrei Victor, 2020-08-24
AXA and BHARTI announced that they have entered into an agreement to combine their non-life insurance operations in India, BHARTI AXA General Insurance Company Limited (BHARTI AXA GI), into ICICI Lombard General Insurance Company Limited (ICICI Lombard).
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EVENT: 12th Bancassurance Asia Summit takes place this November in Singapore
by press.release, 2020-08-25
The 12th edition of Bancassurance Asia Summit event will take place from 23 to 26 November 2020, in Singapore. The event will gather global experts from insurance companies & banks to share and discuss insightful case studies, best practice solutions to key challenges and uprising trends.
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EVENT: 5th Operational Excellence Summit takes place in November 2020
by press.release, 2020-08-25
Equip Global announced 5th Operational Excellence Summit will take place from 9 to 12 November 2020, online. Join the event and hear from global experts from insurance & reinsurance companies to share and discuss insightful case studies, best practice solutions to key challenges and uprising trends.
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ARMENIA: Agroinsurance program has published its first results — ROSGOSSTRAKH is leading in terms of collected premiums
by Marina MAGNAVAL, 2020-08-27
The agricultural risks insurance program was launched in Armenia in September 2019 and already has shown its effectiveness, exceeding the expectations of insurers, according to Levon KOCHARYAN, specialist in agroinsurance and Head of the Underwriting department at INGO Armenia, ArmInfo reports.
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AZERBAIJAN: Agroinsurance, one step closer to becoming tangible
by Marina MAGNAVAL, 2020-08-25
In August, a constituent meeting dedicated to creation of a Joint Agricultural Insurance Company was held in Azerbaijan. Seven insurance companies participated in the meeting, as FINEKO and ABC.AZ analytical and information agency reported with a reference to the Agroinsurance Fund.
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GEORGIA: Net profit of the insurance sector increased by 49% y-o-y in 1H2020
by Marina MAGNAVAL, 2020-08-25
In the first half of 2020, total profit of Georgian insurers amounted to GEL 89.5 million (~EUR 26.10 million*), which is 23% more y-o-y. At the same time, net profit of insurance companies exceeded the level of 1H2019 by 49% and reached GEL 29.2 million, Business Georgia reports.
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KAZAKHSTAN: Voluntary health insurance increased by 7% y-o-y in 1H2020
by Marina MAGNAVAL, 2020-08-27
In 1H2020, GWP under voluntary health insurance amounted to KZT 22.2 billon (~EUR 49 million*), which is 7% more y-o-y. The share of the class in voluntary personal insurance reached 22.1%. At the same time, paid claims under voluntary health insurance decreased by 15.2%, to KZT 10.3 billion, Allinsurance.kz reports.
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ON THE CORONAVIRUS FRONT
Aon launches its Virtual Reinsurance Renewal Season
by Andrei Victor, 2020-08-24
Global re/insurance broker Aon announced it launches its Virtual Reinsurance Renewal Season, calling for the re/insurance industry to collaborate to bring capital closer to clients' needs and drive growth across the global insurance ecosystem.
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WTW and WEF release white paper on how to value talent in the new world of work
by Andrei Victor, 2020-08-24
WILLIS TOWERS WATSON (WTW) and the World Economic Forum (WEF) have published "Human Capital as an Asset: An Accounting Framework to Reset the Value of Talent in the New World of Work," a new white paper that provides organizations with a model to reshape how they value and make decisions about their workforces in a post-COVID-19 world of work.
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1 in 4 Gen Z employees have sought mental health help since beginning of pandemic
by Andrei Victor, 2020-08-24
The coronavirus pandemic has impacted the professional and personal lives of millions of U.S. employees, causing a significant portion to seek help for their mental health.
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Majority of Brits are worried about funding retirement
by Andrei Victor, 2020-08-24
Over half (58%) of non-retired people aged 45-60 are worried they will not have enough money to provide an adequate standard of living in their retirement according to a new survey by AVIVA, yet over a fifth (21%) of non-retired people in this age group are not taking action to strengthen their retirement income.
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ON THE MOVE
Carmen Daniela RADU reappointed President of the Romanian Policyholders Guarantee Fund
by Daniela GHETU, 2020-08-27
Carmen Daniela RADU was appointed by the Financial Supervisory Authority for a second five years term as President of the Council of Administration at The Policyholders Guarantee Fund (FGA). Her mandate will start on August 27, 2020.
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Guy Carpenter appoints Jeffrey Livingston as Global Head of Sales

by press.release, 2020-08-24
Guy Carpenter & Company announced the appointment of Jeffrey Livingston as Global Head of Sales, effective September 1. Livingston will also join the Guy Carpenter Executive Committee.
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VIG




STATISTICS
STATISTICS: ESTONIA, 1H2020: Negative rates in life and motor lines influenced the half-year decline of the market
by Andrei Victor, 2020-08-27
Estonian insurers reported H1 2020 GWP of EUR 235.79 million, 5.49% less compared with January-June 2019, according to the market figures published by the Estonian National Statistics Board.
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STATISTICS: LITHUANIA, 1H2020: Life segment has offset the decline in non-life insurance
by Andrei Victor, 2020-08-27
Lithuanian insurers reported GWP of EUR 470.48 million in 1H 2020, 0.29% more y-o-y, according to the half-year figures published on the Central Bank's website.
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STATISTICS: MOLDOVA, 1H2020: Property insurance and life insurance paid claims recorded significant growth y-o-y
by Marina MAGNAVAL, 2020-08-27
According to the results of 1H2020, the Moldovan insurance market decreased by 18.53%, to MDL 626.88 million (~EUR 32.24 million*), mainly due to the decline of the non-life sector, while life insurance, on the contrary, recorded GWP increase by 9.8%, as the data published by the National Commission of Financial Market show.
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