XPRIMM News
Insurance Newsletter, No. 516, 16 September, 2020

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


TOP NEWS
Insurance Europe calls on EC to adopt appropriate framework to promote uptake of AI
by press.release, 2020-09-17
Insurance Europe has published its response to a consultation by the European Commission on ethical and legal requirements for trustworthy artificial intelligence (AI) in the EU.
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Guy Carpenter: The (re)insurance industry is navigating one of the most significant periods of change in recent times
by press.release, 2020-09-15
The (re)insurance industry is navigating one of the most significant periods of change in recent times which is altering perceptions of risk across the sector; the impact of COVID-19, the first globally systemic insurance loss, has put pressure on a marketplace already addressing challenges on multiple fronts, Guy Carpenter said, during media briefing 'The Changing Nature of Risk'.
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Aon launches Reinsurance Market Outlook - September 2020 report
by press.release, 2020-09-16
Aon launched the September edition of "Reinsurance Market Outlook", providing a comprehensive assessment of key market dynamics of the recent renewals period. Metrics such as global reinsurer capital, alternative capital, and catastrophe losses offer insights on the potential direction of the global re/insurance industry and future renewals, the report says.
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Aon study: Businesses that are putting their people first are more likely to thrive
by press.release, 2020-09-15
Aon plc has released the results of a new global pulse survey focused on how companies are rethinking their human capital strategies in response to the humanitarian and economic impacts of the novel coronavirus (COVID-19) pandemic.
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ROMANIA: Swiss Re Foundation and PAID Romania offered support for the education of 180 children from foster care centers and deprived families
by Cosmin CONCEATU, 2020-09-16
With the support of the Swiss Re Foundation and of PAID Romania (Pool for Insurance against Natural Disasters), the Lindenfeld Association, by means of the "Ajungem Mari" Educational Programme, initiated the "Conectati la educatie" Project, through which more than 180 children from foster care centers and deprived families received electronic devices to be used for attending online educational and school-related activities.
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TRIGLAV: S&P reaffirms high "A" credit ratings with a stable medium-term outlook
by Andrei Victor, 2020-09-16
Slovene ZAVAROVALNICA TRIGLAV announced S&P Global Ratings reaffirmed the "A" Long-Term Credit Rating and Financial Strength Rating with a stable medium-term outlook of TRIGLAV Group and thereby of its parent company and its subsidiary Pozavarovalnica TRIGLAV Re.
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CCN To Support Fraud Detection and Subrogation Initiatives
by press.release, 2020-09-15
Claims Corporation Network (CCN) and eviid have entered into a partnership in order to support insurance companies and fleet-owners with a capability to reduce bogus (false), or unsubstantiated claims through the use of real time digital imagery allowing detection of manipulated digital media.
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Swiss Re introduces triple-digit internal carbon levy to support transition to net-zero emissions in operations by 2030
by press.release, 2020-09-15
Swiss Re announced further measures to support the transition to a low-carbon economy, including stepping up to a USD 100 per tonne internal carbon levy, which will increase to USD 200 by 2030.
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Hannover Re anticipates significant price increases in property and casualty reinsurance
by press.release, 2020-09-15
Hannover Re expects to see significant price increases spanning the various lines of property and casualty reinsurance in the treaty renewals as at 1 January 2021. The key drivers here are the strains incurred by primary insurers and reinsurers in connection with the Covid-19 pandemic, a further drop in interest rate levels and the large losses recorded over the past three years.
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Generali signs a request to EU governments to reduce GHG emissions by 55% by 2030
by press.release, 2020-09-15
Generali signs the request of European business leaders and investors calling on EU Heads of State and Government to reduce domestic greenhouse gas emissions by at least 55% - compared with 1990 levels - by 2030, raising the previously envisaged target of 40%.
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Zurich launches dedicated Climate Change Resilience Services to help businesses tackle climate change risks
by press.release, 2020-09-17
Zurich Insurance Group today announced the launch of its Climate Change Resilience Services to help businesses better prepare for current and future risks associated with climate change.
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SCOR successfully places EUR 300 million subordinated Tier 2 notes
by press.release, 2020-09-15
SCOR has successfully placed a dated subordinated Tier 2 notes issue in the amount of EUR 300 million. SCOR intends to use the proceeds of the issuance for general corporate purposes.
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Fitch confirm SCOR's Insurer Financial Strength rating of 'AA-' and its Outlook as Stable
by press.release, 2020-09-16
According to Fitch, this decision reflects "SCOR's "Favourable" business profile within the global reinsurance sector, "Very Strong" risk-adjusted capitalization and "Strong" financial performance."
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AVIVA Singapore to sell majority stake to local SINGLIFE
by Andrei Victor, 2020-09-16
British insurer AVIVA annoucend it has sold its Singapore operation to local rival SINGLIFE in a deal that values the unit at GBP 1.6 billion. The UK insurer will retain a 25% stake in the new created business.
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UK: High Court in favour of FCA on most business interruption cases
by Ana PREDA, 2020-09-16
The High Court has ruled that the majority of businesses that held business interruption insurance and were forced to close could be entitled to be compensated by the insurers involved in the test case, subject to appeal, Insurance Post reports.
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GEORGIA: GPI Holding keeps the largest market share - over 20%
by Marina MAGNAVAL, 2020-09-16
GPI Holding continues to lead and holds the largest share of the Georgian insurance market (20.62%) according to the half-year data, provided by the State supervision service of Georgia.
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RUSSIA: At the end of 1H2020, the share of risks, ceded to international reinsurance, increased for the first time since 2017
by Marina MAGNAVAL, 2020-09-17
In 1H2020, GWP ceded in reinsurance abroad reached RUB 65.8 billion/EUR 0.83 billion*, which is 23% more y-o-y (in RUB), as ASN reports with reference to the Association of professional insurance brokers (APIB).
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RUSSIA: Conference "Claims&Pays 2020. Loss settlement in insurance" to be held on September 22 in Moscow
by Daniela GHETU, 2020-09-14
On September 22, 2020, Moscow will host the "Claims&Pays 2020. Loss settlement in insurance" conference, organized by the media information group "Strakhovanie segodnya" with support and participation of the All-Russian Insurance Association (ARIA). The event will be held online and offline.
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TURKMENISTAN: the Rules on state individual mandatory insurance of passengers of all transport types approved
by Marina MAGNAVAL, 2020-09-16
On September 11, 2020, the President of Turkmenistan Gurbanguly BERDYMUKHAMEDOV approved the Rules for mandatory state insurance for passengers of all types of transport and transport complex employees, the State news agency of Turkmenistan informed.
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UKRAINE: In the first half of 2020, almost 93% of MTPL claims paid for property damage
by Marina MAGNAVAL, 2020-09-17
The number of traffic accidents in the country in 1H2020 amounted to 72.4 thousand, which is 1% less y-o-y, and the number of traffic accidents with injured decreased by 4%, to 11.2 thousand, while the mortality rate is 9.1 people per 100 thousand population, according to the press-release of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
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XPRIMM TV
XPRIMM Video

Croatian and Slovenian markets' performance throughout the Covid crisis, on the XPRIMM TV YouTube Channel

by team, 2020-09-17
Croatian non-life market fared extremely good in the first eight months of the year, recording a slight increase, which is also due to the Croatian insurance players stepping out of the country and operating in Austria, Slovenia and Italy as well, Hrvoje PAUKOVIC, Director, Croatian Insurers' Bureau stated during the XPRIMM TIME FOR BUSINESS aired yesterday on YouTube.
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ON THE MOVE
MARSH Senior Executive Dean KLISURA appointed President of GUY CARPENTER
by Andrei Victor, 2020-09-16
GUY CARPENTER and MARSH - two business units of MARSH & McLennan - announced the appointment of Dean KLISURA as President of GUY CARPENTER, effective October 1, 2020. He will report to Peter HEARN, CEO of GUY CARPENTER.
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LLOYD's appoints US Market Development Director
by Andrei Victor, 2020-09-16
LLOYD's announced the appointment of Uwe SCHOBERTH as US Market Development Director, a newly created role focused on expanding strategic relationships with retail, wholesale and reinsurance brokers.
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Peak Re announces new appointment to support growth in Europe
by press.release, 2020-09-17
Peak Re, a global reinsurer based in Hong Kong, announces the appointment of Mr. Matteo Cussigh as Senior Vice President of Markets.
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VIG




STATISTICS
STATISTICS: BELARUS, 1H2020: Growth of paid claims more than twice outpaced GWP growth
by Marina MAGNAVAL, 2020-09-17
The insurance market of Belarus completed 1H2020 with an increase of 6.93%, GWP amounted to BYN 737.7 (~EUR 272.8 million*). At the same time, the growth rate of paid claims has outpaced GWP growth by more than two times (+14.86%), according to the data, published by the Ministry of Finance of the Republic.
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STATISTICS:
RUSSIA, 1H2020: Generated GWP remained almost unchanged y-o-y in local currency

by Marina MAGNAVAL, 2020-09-17
In the second quarter, the decline in economic activity due to the pandemic led to a decrease both in GWP and paid claims, mainly because of reduction of insured events. In general, at the end of 1H2020, total market GWP amounted to RUB 739 billion (~EUR 9.39 billion*) , and remained almost at the level of 1H2019 (-0.03%), according to the data, published by the Central Bank of Russia.
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