XPRIMM News
Insurance Newsletter, No. 520, 15 October, 2020

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


STATISTICS

STATISTICS: CZECH REPUBLIC, 1H2020: GENERALI's subsidiaries merger gave birth to a new market leader
by Daniela GHETU, 2020-10-15
Czech insurers ended the first half of 2020 with GWP worth EUR 3.16 billion. Which is 4.29% less y-o-y, the Central Bank's statistics show. However, in local currency, the rate growth remained slightly positive, of about 0.6% y-o-y. In fact, the overall negative trend was mainly driven by the life insurance segment which saw a 16.8% decline in GWP, thus losing about 5p.p. of its weight in the market portfolio.
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STATISTICS: SLOVAKIA, 1H2020: Insurers reported negative rates in premiums and claims
by Andrei Victor, 2020-10-15
In the first six months of 2020, the Slovak insurance market totaled EUR 1.14 billion (direct premiums and accepted reinsurance, summed-up), 1.57% less y-o-y, according to the preliminary quarterly financial figures provided by the National Bank of Slovakia (NBS).
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STATISTICS: UZBEKISTAN, 1H2020: Volumes drop recorded both in GWP and paid claims
by Marina MAGNAVAL, 2020-10-15
In the first half of 2020, the market dropped by almost 19% in local currency (almost 31% in euro), according to the data, published by the Ministry of finance of the Republic.
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TOP NEWS
VIDEO: The impact of the COVID crisis on the Romanian insurance market - special edition on XPRIMM Time for Business
by XPRIMM, 2020-10-15
XPRIMM Time for Business had a new international edition under the title "Re/insurance markets facing the Covid crisis" that focused on the evolution of Romanian insurance market under the specific uncertain situation created by the pandemic.
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Insurance Europe: The scope of existing eIDAS Regulation should be extended to private sector
by Cosmin CONCEATU, 2020-10-13
Insurance Europe has published its response to a consultation by the European Commission on a revision of the electronic identification and trust services (eIDAS) Regulation, which aims to enable secure and seamless digital interactions between citizens, businesses and the public sector.
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Insurance Europe: Insurers see merit in climate change stress testing, but not EU-wide liquidity or multi-period stress tests
by Cosmin CONCEATU, 2020-10-15
Insurance Europe has published its response to a discussion paper by the European Insurance and Occupational Pensions Authority (EIOPA), where it outlines its views on climate change, liquidity risk and multi-period stress testing.
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EIOPA urges insurance sector to complete preparations for the end of UK transition period
by Cosmin CONCEATU, 2020-10-13
The UK transition period according to the Withdrawal Agreement will end on 31 December 2020. Following this date, all Union primary and secondary law will no longer apply to the United Kingdom, including the Solvency II Directive as well as the Directive on Insurance Distribution (IDD).
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CROATIA osiguranje launched the first Croatian 100% digital insurance
by Daniela GHETU, 2020-10-15
CROATIA osiguranje, one of the top insurers in the Adriatic region, member of the Adris Group, launched LAQO - the first Croatian 100 percent digital insurance. The company also announced a HRK 200 million (~EUR 26.5 million) worth digitalization and product development program.
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PZU extends its MTPL policies coverage for the losses caused by the insureds while using other personal transport devices
by Daniela GHETU, 2020-10-15
PZU's MTPL policyholders will benefit from a supplement to their insurance consisting in an additional coverage for the material and personal damages caused by the insured while using a bicycle or other personal transport devices as light electric vehicles.
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Slovenian TRIGLAV Group targets a EUR 85-95 million profit before tax for 2021
by Daniela GHETU, 2020-10-15
In view of the selected probable scenario of business conditions in 2021, Slovenian TRIGLAV Group plans to increase its consolidated gross written premium to EUR 1.2-1.3 billion and its profit before tax to EUR 85-95 million.
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AM Best reaffirms IGI's financial strength ratings
by Cosmin CONCEATU, 2020-10-13
AM Best has reaffirmed International General Insurance Holdings Ltd. (IGI) financial strength ratings at A (Excellent) with a Stable outlook. The ratings apply to IGI's two subsidiaries: International General Insurance Co. Ltd. (Bermuda) and International General Insurance Company (UK) Ltd.
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AEGON to divest STONEBRIDGE
by Andrei Victor, 2020-10-14
Dutch financial group AEGON announces the sale of STONEBRIDGE, a UK-based provider of accident insurance products. Total proceeds amount to approximately GBP 60 million (EUR 65 million).
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Generali announced the adoption of a new Corporate Governance Code
by Cosmin CONCEATU, 2020-10-15
At a meeting chaired by Gabriele Galateri di Genola, the Assicurazioni Generali Board of Directors approved the adoption of the new Corporate Governance Code, approved by the Italian Corporate Governance Committee and published on 31 January 2020.
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Steamship Mutual sets its European business unit in Cyprus
by Daniela GHETU, 2020-10-15
With the UK leaving the European Union, Steamship Mutual chose to set up a new insurance company in Cyprus to service its clients all over Europe and started writing business in February 2020.
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ON THE MOVE
GUY CARPENTER appoints Chief Human Resources Officer
by Andrei Victor, 2020-10-14
GUY CARPENTER - the reinsurance broker of Marsh & McLennan Companies, announced the appointment of Melissa HARTSHORN as Chief Human Resources Officer, effective immediately.
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Tony ROOKE appointed Director of Climate Transition Risk of WTW's Climate and Resilience Hub
by Daniela GHETU, 2020-10-15
Willis Towers Watson, a leading global advisory, broking and solutions company, announced the appointment of Tony ROOKE as Director of Climate Transition Risk in the organization's Climate and Resilience Hub (CRH).
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Munich Re appoints Stefan GOLLING to its Management Board
by Daniela GHETU, 2020-10-15
Stefan GOLLING (44) was appointed by the Supervisory Board of Munich Reinsurance Company to the Munich Re Board of Management as of 1 January 2021. He will take over the management of the Global Clients and North America Division.
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Bence HOLLO appointed CEO of NN Hungary as of 1 December 2020
by Andrei Victor, 2020-10-14
Bence HOLLO will be appointed Chief Executive Officer (CEO) of NN Hungary, effective 1 December, subject to regulatory approval, as the Dutch insurance group announced in a statement.
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AIG appoints Alan SMITH Head of Human Resources, Life & Retirement
by Andrei Victor, 2020-10-14
AIG Life & Retirement, a division of American International Group, Inc., announced the appointment of Alan SMITH as Head Of Human Resources effective immediately. He succeeds Liz CROPPER who is moving to AIG's General Insurance business as chief human resources officer.
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INTERVIEW

Ervin METE, General Executive Director of FSA, Albania
by Irina GHETU, 2020-10-15
This crisis showed that systems are now more crucial than ever in running the businesses and making sure they are adapting to the digital era we are witnessing. The Albanian market remained fully operational, working at reduced staff capacity, thanks to the remote style of working during the lockdown, and focused more on their online sales.
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VIG


VIDEO


ON THE CORONAVIRUS FRONT
Zurich and University of Oxford launched a new report about workforce resilience during COVID-19
by Cosmin CONCEATU, 2020-10-14
Zurich Insurance Group and the Smith School of Enterprise and the Environment at the University of Oxford launched a new report about COVID-19 issues. Based on two global surveys and interviews with business leaders, the study to address issues affecting working people worldwide, including the digitalization of the economy, the need for continuous education, and the fragility of many national social protection systems.
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COVID-19 has significantly altered how Germans perceive risk
by Andrei Victor, 2020-10-14
The "ERGO Risk Report 2020 EXTRA", conducted by the independent market research institute "HEUTE UND MORGEN" in mid-September, clarifies that the corona crisis has changed the perception of risks and opportunities considerably - but has also encouraged Germans to be more open for digital innovations.
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Pandemic led the AXA's future risks ranking
by Andrei Victor, 2020-10-14
The seventh edition of its Future Risks Report recently published by French insurer AXA highlights health as a major issue moving pandemic risk into top spot.
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ERGO
EUROINS

EVENTS


WorldPensionSummit 2020

19 - 23 October 2020
Online event
Organizer:?P&I Events
Media Partner:?XPRIMM Publications
For details:?pionline.com/wps2020

Croatian Insurance Days 2020
12 November 2020?
ONLINE Event
Organizer: Croatian Insurance Bureau
Media Partner: XPRIMM Publications
More details:?dani-osiguranja.huo.hr

The Future of Insurance Europe
24 - 25 November, 2020
Online event
Organizer: Reuters Events
Media Partner: XPRIMM Publications
For details: reutersevents.com


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