XPRIMM News
Insurance Newsletter, No. 528, 10 December, 2020

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


YouTube Program
Focus on the Bulgarian market - XPRIMM TIME for BUSINESS, on 16 December
by XPRIMM, 2020-12-10
The forthcoming edition of the XPRIMM TIME for BUSINESS show will focus on the Bulgarian Insurance market - the way it coped with the Covid-19 crisis and its future perspectives. The show will air on Wednesday, 16 December, starting 16.00 hours (EEST) on the XPRIMM YouTube channel.
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TOP NEWS

VIG recognized by Forbes, Financial Times and Best Recruiters for its HR management

by Cosmin CONCEATU, 2020-12-10
At the end of 2020, Vienna Insurance Group (VIG) has received three confirmations for its positive relationship with its employees: the group was included in Forbes' World's Best Employers list, it was named Diversity Leader awarded by the Financial Times and it also received the Best Recruiters' gold medal in the insurance sector for the fourth year in a row.
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Insurance Europe: Insurance Capital Standard should better reflect risk posed to insurers
by Cosmin CONCEATU, 2020-12-10
Insurance Europe has published its response to a questionnaire conducted by the International Association of Insurance Supervisors (IAIS) on infrastructure and strategic equity investments.
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Munich Re's "Ambition 2025" sets new growth, results goals and environmental protection targets
by Cosmin CONCEATU, 2020-12-10
Munich Re announced its Group Ambition 2025, specifying a series of bold targets for the next five years. The group will retain and bolster its core business model, while advancing its transformation towards new business models. The strategy will develop in accordance with the three guiding principles of Munch Re: Scale, Shape and Succeed.
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POLAND: Border motor policies issued in 2019 decreased by half
by Cosmin CONCEATU, 2020-12-08
During 2019, almost 3.9 million vehicles registered outside the European Economic Area (EEA) entered Poland through its eastern borders with Belarus, Russia and Ukraine. Although the traffic at these borders remains high, the number of border policies issued during 2019 dropped by half when compared to 2018, Polish Motor Insurers' Bureau (PBUK) informs.
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ROMANIA: Agreement signed for the takeover of Gothaer Asigurari Reasigurari by Allianz-Tiriac Asigurari
by Daniela GHETU, 2020-12-09
Allianz-Tiriac Asigurari and Gothaer Group have announced the signing of a purchase agreement regarding the takeover of Gothaer Asigurari Reasigurari, this being the first acquisition of an insurance company made by Allianz-Tiriac after more than 25 years of organic growth.
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Two succesive capital increase for Euroins Romania of over EUR 25 million
by Alexandra GUZUN, 2020-12-09
Euroins Romania Asigurare Reasigurare SA recorded two successive capital increases worth over RON 126 million (~EUR 25 million) which will consolidate its presence on the market.
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TURKEY: MTPL price cap maintained for another year
by Daniela GHETU, 2020-12-09
The ceiling on MTPL premiums' value will remain in place for another year starting 1 January 2021, the measure aiming to provide for affordable rated for insureds, the Insurance and Private Pension Regulation and Supervision Authority (SEDDK), Middle East Insurance Review reported.
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TURKEY: Top market priorities inventoried by TSB and SEDDK top representatives
by Daniela GHETU, 2020-12-09
Important issues in front of the sector were also discussed during the visit. It was agreed that the working groups highlighted by Turker Gursoy would be quickly implemented.
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AZERBAIJAN: Life and compulsory non-life insurance is demonstrating steady growth
by Marina MAGNAVAL, 2020-12-09
From January to October 2020, the Azeri life insurance market totaled AZN 259.2 million (EUR 130.51 million*) exceeding the same period of 2019 by 16%, Trend reports referring to the Azerbaijani Central Bank (CBA).
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AZERBAIJAN: Creditors of Standard Insurance receive compensation from the Compulsory Insurance Bureau
by Marina MAGNAVAL, 2020-12-08
About 3,400 creditors of Standard Insurance have already received compensation from the Compulsory Insurance Bureau of Azerbaijan. Standard Insurance was declared bankrupt and its license was revoked this year in May, Trend reports with reference to the bureau.
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AZERBAIJAN: AzRe rated B+ (good) by A.M. Best
by Marina MAGNAVAL, 2020-12-08
On December 4, 2020 A.M. Best rating agency affirmed the financial strength rating of B+ (Good) and the long-term issuer credit rating of "bbb-" of AzRe Reinsurance (Azerbaijan), with positive outlook, according to the agency's report.
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BELARUS: BELGOSSTRAKH has 99 years in insurance
by Marina MAGNAVAL, 2020-12-08
On December 3rd, 2020, the Belarusian insurance company BELGOSSTRAKH celebrated its 99th anniversary in insurance, according to the company's website.
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RUSSIA: for 9 months of 2020 the average Motor Hull premium decreased by 17.5% y-o-y
by Marina MAGNAVAL, 2020-12-09
From January to September 2020, Motor Hull GWP grew in local currency by only 1.4%, to RUB 123.1 billion (~EUR 1.33 billion*), while the average premium decreased by 17.5% to RUB 29.4 thousand.
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UKRAINE: Four years anniversary from the start of the system of MTPL direct settlement
by Marina MAGNAVAL, 2020-12-08
December 1st, 2020 marked four years since the system of direct settlement of losses in MTPL was launched in Ukraine. Now, 15 MTIBU (Motor Transport Insurance Bureau of Ukraine) member companies are members of this system, according to the Bureau's website.
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AM Best maintains Global reinsurance market outlook at 'Stable'
by Cosmin CONCEATU, 2020-12-08
AM Best recently released a market segment outlook report for the global reinsurance market, according to which the reinsurance industry maintains its 'Stable' due to multiple positive factors that absorbed many of the COVID-19 problems on the financial markets.
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AM Best assigns GIC Perestrakhovanie LLC with B++ (Good)
by Alexandra GUZUN, 2020-12-07
GIC Perestrakhovanie LLC (Russia) (GIC Perestrakhovanie) has been assigned by AM Best with a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb", the Outlook is stable, according to a recent press release.
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STATISTICS
STATISTICS: BULGARIA, 3Q2020: Local insurers reported increasing 9 months profits
by Andrei Victor, 2020-12-10
Bulgarian insurance market totaled BGN 2.16 billion (~EUR 1.10 billion*) at the end of September 2020, down by 0.87% y-o-y, according to data from the Financial Supervision Commission - FSC.
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STATISTICS: SERBIA, 3Q2020: Local insurers' 9 months business expanded 2.2% y-o-y
by Andrei Victor, 2020-12-10
Serbian insurers' 3Q2020 business increased 2.17% y-o-y to RSD 80.73 billion (~EUR 687 million*), according to the quarterly figures published on the website of National Bank of Serbia (NBS).
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STATISTICS: UZBEKISTAN, 3Q2020: Decline in voluntary life insurance made the market decrease by more than 11% y-o-y
by Marina MAGNAVAL, 2020-12-10
Total market GWP at the end of the third quarter of 2020 decreased by 11.43% y-o-y, to UZS 1,587.71 billion (~EUR 132.27 million*). It should be noted that the decline was only due to the fall in life insurance, according to the data published by the Ministry of Finance of the Republic.
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ON THE CORONAVIRUS FRONT
A global report of Aon highlights "The New Better" on the novel COVID-19
by Alexandra GUZUN, 2020-12-10
Aon has published a report that highlights shift in attitudes of leading organizations toward long-tail risks and the impacts on how society will continue to work, travel and convene.
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Prior to the pandemic, medical costs for employers projected to increase minimally in 2020
by Andrei Victor, 2020-12-07
Global broker Aon plc, reports that its large employer clients budgeted on a pre-pandemic basis an average of USD 12,091 per employee for health care costs this year, up 1.8% from 2019.
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MARKETS&TRENDS
KPMG: insurers maintained customers' trust throughout COVID-19, but needs to better adapt to the shifting customer demands
by Daniela GHETU, 2020-12-10
The insurance sector performs the best at maintaining net trust throughout COVID-19, a new report from KPMG International, "Responding to consumer trends in the new reality" shows. Nevertheless, the industry players need to better understand what is driving their customer and adapt to keep pace with shifting customer demands.
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ON THE MOVE
Guy Carpenter named Benjamin Keslowitz as US Life Reinsurance Leader
by Alexandra GUZUN, 2020-12-08
According to a press release, Guy Carpenter & Company, LLC, part of Marsh & McLennan Companies (NYSE: MMC) announced the appointment of Benjamin Keslowitz as US Life Leader, with immediate effect.
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GUY CARPENTER appoints SHEPHARD as Head of GC Access International
by Andrei Victor, 2020-12-07
Reinsurance broker GUY CARPENTER (GC) part of MARSH & McLennan Companies (MMC), announced the appointment of Miles SHEPHARD as Managing Director and Head of GC Access, International, effective October 2021.
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Pietro Toffanello appointed Head of Guy Carpenter Japan
by Cosmin CONCEATU, 2020-12-07
Guy Carpenter & Company announced the appointment of Pietro Toffanello as Head of Japan in Q1 2021. In this role, Toffanello will be responsible for managing Guy Carpenter's business activities across Japan.
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AVIVA appoints CEO of AIG's Life Insurance business as CEO of International
by Andrei Victor, 2020-12-07
AVIVA announced the appointment of Adam WINSLOW as CEO of International. He will join AVIVA in January and will be responsible for AVIVA's international businesses in continental Europe and Asia.
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Stephen Doherty appointed as Chief Brand and Corporate Affairs Officer of Aviva
by Cosmin CONCEATU, 2020-12-08
Aviva announced the appointment of Stephen Doherty as Chief Brand and Corporate Affairs Officer. Doherty will join Aviva's Group Executive Committee, reporting to the group's Chief Executive Officer, Amanda Blanc.
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CHUBB names John KEOGH President
by Andrei Victor, 2020-12-07
CHUBB announced that John KEOGH, Executive Vice Chairman of CHUBB Group and Chief Operating Officer, has been appointed President and Chief Operating Officer, effective immediately. He will continue to report to Evan G. GREENBERG, Chairman and CEO, and his current broad companywide responsibilities remain unchanged.
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EVENTS
7th Catastrophe Insurance & Risk Management Summit 2021
25-28 January 2021
Organizer: Equip Global
Media Partner: XPRIMM Publications
For details:?equip-global.com


Digital Bancassurance Masterclass
26 - 28 January 2021
ZOOM
Organiser: Equip Global
Media Partner: XPRIMM Publications
For details: equip-global.com


INSURETEK MIDDLE EAST 2021 INTERNATIONAL CONFERENCE & GOLDEN SHIELD EXCELLENCE AWARD
February 17, 2021
Dusit Thani Hotel, Dubai, United Arab Emirates
Organizer:?BIZ Events Management
Media Partner:?XPRIMM Publications
For details:?http://insuretek.org/


9th AIDA Europe Conference
Zurich, Switzerland
23-24 September 2021
Organizer:?AIDA
Media Partner:?XPRIMM Publications
For details:?aidainsurance.org

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