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NEWS |
Vienna Insurance Group - celebrating 30 years of CEE history
by Daniela GHETU, 2020-10-29
The last 30 years meant for Vienna Insurance Group traveling a road that led it from an Austrian pioneer to an international market leader in the CEE region. Today, VIG's business card shows: 30 countries, around 50 insurance companies, more than 22 million customers and a premium volume of over EUR 10 billion.
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T?rk Reas?rans A.? celebrates its 1st anniversary
by press.release, 2020-10-26
T?rk Reas?rans A.?, which was established with the aim of contributing to the objectives of the New Economic Program, namely "Economic Balancing" and "Healthy and Sustainable Growth" in relation to the insurance market, increasing the local reinsurance capacity and ensuring resource efficiency, has completed its first year.
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XPRIMM
Insurance Report 1H2020 is now live
by XPRIMM, 2020-10-29
The latest edition of the XPRIMM Insurance Report CEE, SEE & CIS
is now live, providing for 1H2020 statistical data. The report is available in
a digital format enriched with additional features that will allow its readers
to get all data they need in editable format.
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November, YouTube: Meet the 2020 edition of the XPRIMM Motor Insurance
Report and meet its authors
by XPRIMM, 2020-10-29
With almost empty roads for almost two months, motor insurers have faced a tough
business environment in the second quarter of 2020. Adding to the burden, cars
sales have dropped dramatically, thus silencing one of the main sources of business
growth.
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Insurance Europe: Fixing flaws in Solvency II vital to unlock long-term investment and boost EU economic growth and recovery
by Cosmin CONCEATU, 2020-10-27
Insurance Europe has published its response to a consultation by the European Commission on the review of Solvency II. The organization believes that, while working well in general, Solvency II is excessively conservative, contains serious measurement flaws and imposes unnecessary operational burdens on Europe's insurers.
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Insurance Europe: It is premature to call for mandatory AI insurance due to insufficient underwriting data and lack of similarity between risks
by Cosmin CONCEATU, 2020-10-27
Following the 20 October 2020 plenary vote in the European Parliament to approve its legal affairs committee reports on a civil liability regime for artificial intelligence (AI) and a framework of ethical aspects of AI, robotics and related technologies, Michaela Koller, Insurance Europe's director general, said that "it is premature for the Parliament to consider mandatory insurance for high-risk AI systems".
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AEGON to leave CEE markets, rumors say
by Andrei Victor, 2020-10-29
Dutch insurer AEGON has put its CEE units - including Poland, Romania, Hungary and Turkey -, up for sale, Reuters wrote citing sources close to insurer.
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The Croatian Insurance Day 2020: See the speakers list
by Daniela GHETU, 2020-10-29
The organizing Committee of the Croatian Insurance Days Conference has announced the confirmed speakers of the 2020 online edition. Gabriel Bernardino (EIOPA), Michaela Koller, (Insurance Europe) and dr.sc. Ante Zigman (HANFA) will provide the keynote speeches.
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ESTONIA: Motor insurers may save billions thanks to the DriveX technology
by Alexandra GUZUN, 2020-10-29
Estonian start-up DriveX comes with a new technology that would help car insurance companies to save billions, reports www.businessworldreport.com.
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ROMANIA, MTPL: The direct settlement clause may become mandatory
by Andrei Victor, 2020-10-29
The MTPL legislation in Romania is in the process of being amended, the insurance portal 1asig.ro wrote here.
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Swiss Re Capital Markets structures and places USD 775 million catastrophe bond for California Earthquake Authority
by Andrei Victor, 2020-10-26
Reinsurer Swiss Re announced Swiss Re Capital Markets structured and placed the issuance of USD 775 million of insurance-linked securities (ILS) by Ursa Re II Ltd, to be used for the protection of the California Earthquake Authority (CEA).
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Swiss Re joins The Trinity Challenge putting its data and analytics platform at the service of global health
by Cosmin CONCEATU, 2020-10-29
Swiss Re is joining The Trinity Challenge, a global coalition that aims to better predict and prevent outbreaks, epidemics and pandemics by harnessing the power of data and analytics. Swiss Re has integrated COVID-19 related health, economic and social data in one unique platform: the Risk Resilience Center.
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MUNICH Re posts Q3 profit result of about EUR 200 million
by Andrei Victor, 2020-10-26
Global reinsurer MUNICH Re announced that during the third quarter of 2020, it registered COVID-19 related losses totaling about EUR 800 million in reinsurance. "The losses were attributable to various business lines, such as insurance for major events and other property-casualty lines, and the life and health business".
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TALANX to increase its business volume in Italy by EUR 300 million by acquiring non-life insurer AMISSIMA Assicurazioni
by Andrei Victor, 2020-10-26
The German insurance group TALANX announced is expanding its business in Italy by acquiring through HDI Assicurazioni, a subsidiary of HDI International AG, the TALANX Group's Retail International Division - all the shares of Italian non-life insurer AMISSIMA Assicurazioni from AMISSIMA Holdings (indirectly owned by investment funds managed by affiliates of APOLLO Global Management, Inc.)
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ARMENIA: tax payments of the insurance sector in January-September increased by more than 33% y-o-y
by Marina MAGNAVAL, 2020-10-28
From January to September 2020, Armenian insurers paid taxes in the amount of AMD 1.6 billion (EUR 2.78 million*), which is 33.3% more y-o-y (vs a decline by 25% at the end of the same period in 2019), ArmInfo reports.
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KAZAKHSTAN: the share of civil liability insurance of tour operators and travel agents in compulsory insurance due to the crisis decreased to 0.5%
by Marina MAGNAVAL, 2020-10-28
Civil liability insurance of tour operators and travel agents in Kazakhstan for January-August 2020 decreased fourfold y-o-y and the segment's share in the total compulsory GWP dropped from 2.3% to 0.5%, which is explained by the impact of restrictions imposed due to the pandemic, Allinsurance.kz informed.
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RUSSIA: from January to September GWP of INGOSSTRAKH grew by 5% y-o-y, while paid claims decreased by the same value
by Marina MAGNAVAL, 2020-10-28
From January to September 2020, GWP of INGOSSTRAKH amounted to RUB 88 billion (EUR 0.95 billion*), which is 5% more y-o-y. Of that amount RUB 80.2 billion (+2%) were received under direct insurance, and RUB 7.8 billion - from inward reinsurance (+33% y-o-y), according to the company.
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RUSSIA: Bank of Russia to appeal to court to liquidate a number of former insurance organizations with revoked licenses
by Marina MAGNAVAL, 2020-10-28
Several organizations completely devoid of all insurance licenses have not removed from their names such words as insurance, reinsurance, mutual insurance, insurance broker, as well as their derivatives, which has been established by the Bank of Russia based on the results of conducted monitoring, as the regulator's press service informed.
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RUSSIA: 7th Insurance Business Forum "Challenges of the year 2020" was held on October 19-20
by press.release, 2020-10-26
On October 19-20, 2020 the 7th Insurance Business Forum "Challenges of the year 2020" took place in Moscow. Two events were held within the Forum's framework: October 19 - Conference for responsible actuaries / October 20 - Conference for finance Directors and chief accountants.
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EVENT: 7th Catastrophe Insurance & Risk Management Summit takes place in January 2021
by Irina GHETU, 2020-10-23
Equip Global has just announced their 7th Catastrophe Insurance & Risk Management Summit, held from 25 January to 28 January 2021, live online (Singapore). By joining the summit you will have the opportunity to hear more about catastrophe insurance, including risk management of such insurance. XPRIMM Publications supports the event as Media Partner!
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EVENT: Digital Banacassurance Masterclass takes place in January 2021
by Irina GHETU, 2020-10-29
Equip Global has announced the new edition of their Digital Banacassurance Masterclass, that will takes place on the 26 -28 January 2021. This 3 day Digital Bancassurance Masterclass is a Comprehensive Outcome-Oriented Masterclass, and has been specially developed to help participants develop an effective digital bancassurance roadmap for their company so that they can maximize their return on investment and profitability when implementing digital bancassurance strategies and adopting innovation. XPRIMM Publications supports the event as Media Partner!
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EVENT: "The Future of Insurance Europe" takes place in November 2020
by Irina GHETU, 2020-10-26
Reuters Events has announced their upcoming event "The Future of Insurance Europe", which is the industry's most senior strategic conference, uniting top decision makers from across the insurance ecosystem. XPRIMM Publications supports the event as Media Partner!
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| INTERVIEW |
 Mira
KIRIDZIC-BUGLER, Market Head, Austria and CEE, Swiss Re
by Mihaela CIRCU, 2020-10-23
InsurTech and Digitalization are here to stay - however there is
still room for improvement. Digital solutions must add real value
to customers and need to be more than just replacing formerly analogue
processes. The InsurTechs were certainly the trigger for more innovation
in our industry.
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 Boris
Saban, Executive Director, National Bureau of Montenegro Insurers
by Cosmin CONCEATU, 2020-10-29
I am glad to say that our insurers reacted quickly and continued
their daily business despite new circumstances. Issuing of MTPL insurance
policies and vehicle registrations were conducted smoothly during
the whole period. These two facts are very important for keeping
the market stability, considering the fact that compulsory insurance
is still dominant in the premium structure of the whole market.
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| STATISTICS |
STATISTICS: CEE
Region, 1H2020: GWP down by 3.8% y-o-y, a better than expected
evolution
by Daniela GHETU, 2020-10-29
GWP in the CEE insurance market amounted to EUR 19.11 billion, by
3.80% less y-o-y. Results denominated in European currency show only
five markets recording a positive dynamic: Latvia (+3.31%), Serbia
(+4.28%), Slovenia (+4.21%), Romania and Lithuania, markets that
rather managed to maintain the 1H2019 level than really significantly
increase the business volume.
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STATISTICS: CIS
Region, 1H2020: Despite the impact of the Covid crisis, three
markets of the region saw positive volume trends
by Marina MAGNAVAL, 2020-10-29
In the first half of the year, GWP of the regional market (in euro)
decreased by almost 9% y-o-y and amounted to EUR 11.48 billion, as
the statistics, prepared by xprimm, show.
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STATISTICS: SLOVENIA,
1H2020: 9 out of the 13 insurers reported operating profit in the
Q2
by Cosmin CONCEATU, 2020-10-29
In 1H2020 the insurance market of Slovenia totaled EUR 1.4 billion,
4.2% more y-o-y. The life sector grew by 1.8%, to EUR 381 million
(including pension funds), while non-life GWP went up by 5.2%, to
EUR 993 million.
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