Insurance Newsletter No. 544, 15 April 2021

www.xprimm.com

www.xprimm.com

TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES

TOP NEWS

STORY LAB with Karel van HULLE: the Solvency II Review will be a success when it goes beyond the correction of technical imperfections
by Daniela GHETU, 2021-04-15
"I have learnt to appreciate insurance. It is very different from banking. It attracts a different kind of people," Prof. Karel van HULLE has confessed at the STORY LAB show's microphone in the first episode of the new series of interview launched by XPRIMM yesterday.

VIG's planned expansion by acquiring Aegon's CEE businesses temporarily blocked by the Hungarian authorities
by Daniela GHETU, 2021-04-12
The transaction announced by Aegon in November 2020, of selling to Vienna Insurance Group (VIG) its insurance, pension and asset management business in Hungary, Poland, Romania and Turkey for a total consideration of EUR 830 million, has been stalled by Hungarian Ministry of Interior's unexpected denying of approval.

Eurohold's shareholders approved capital increase
by Andrei Victor, 2021-04-14
Bulgarian financial holding Eurohold, the owner of Euroins Insurance Group - announce it will increase its capital by issuing new shares on the Bulgarian Stock Exchange (BSE), "which will allow the company to raise up to EUR 100 million.

Swiss Re, Movingdots, Amodo, on the credits of the Motor Insurance Conference on 20 April
by Daniela GHETU, 2021-04-15
New mobility is challenging, requiring in fact insurers to understand and adapt to an entire new environment. While these challenges are already here, the CEE markets are still confronted with ageing fleets and persisting old purchasing habits. Overall, technology needs to support the entire complexity of a motor insurance landscape with extreme differences. Top professionals representing Swiss Re, Movingdots and Amodo will share their views at the Motor Insurance Conference on 20 April.

RMS presents at the Property Insurance Conference new solutions to manage natural catastrophe risks in the CEE
by Daniela GHETU, 2021-04-15
Flood risk is in particularly important in the central and northeastern part of the CEE region, but the last decade's history shows that very few countries across the region were spared from really dramatic experiences, while most of them have seen at last a moderate flooding event each year.

Aon will provide cargo insurance coverage for COVID-19 vaccines
by Alexandra GUZUN, 2021-04-15
Aon launches innovative industry collaboration to protect global Covid-19 vaccine shipments and will donate all 2021 revenues from new solution to a charity dedicated to eradicating the global human and economic toll of the pandemic.

Wills Re: 7% increase and total capital of USD 658 billion for the global reinsurance market in 2020
by Alexandra GUZUN, 2021-04-15
According to the latest Reinsurance Market Report from Willis Re, the total capital dedicated to the global reinsurance industry measured USD 658 billion at year-end 2020 reflecting 7% year-on-year growth. The rise was driven primarily by strong investment market appreciation.

AXA partners with Microsoft to create a virtual healthcare system open to all
by Daniela GHETU, 2021-04-15
AXA announced it is collaborating with Microsoft to build a digital healthcare platform, enabling a virtual healthcare system open to all. In the future, the platform aims to allow integration of third-party services, becoming an open, global service for healthcare providers and patients, regardless of whether they are AXA customers.

Intesa Sanpaolo's acquisition of Aviva Vita and Lombarda Vit cleared by the Italian Competition Authority
by Daniela GHETU, 2021-04-13
The Italian Competition Authority (ICA) announced it cleared the acquisition by Intesa Sanpaolo, one of the main Italian banks, of two life insurance companies: Aviva Vita, with an about EUR 0.7 billion turnover, and Lombarda Vita, which has a EUR 0.5 billion turnover.

PZU uses Murex tech to build a sustainable investment process for a new asset management system
by Alexandra GUZUN, 2021-04-15
Murex, the global leader in integrated investment management and processing solutions for capital markets, served as a critical technology partner for PZU Group as it implemented a sophisticated platform solution to manage its own investments and assets, as well as those of its customers.

Bulgarian insurers' YE2020 net profits increased by 26% y-o-y to EUR 95 million
by Andrei Victor, 2021-04-14
Bulgarian insurers aggregate YE2020 net profits increased by 26.16% y-o-y to BGN 186.27 million (~EUR 95.24 million) due the 38.87% increase in non-life, the y-o-y rate reported by life insurers being negative: -26.59%, according to the Q4 2020 market figures published on the Financial Supervisory Commission website.

CROATIA Osiguranje has paid EUR 26 million in losses after the Croatian earthquakes in 2020
by Daniela GHETU, 2021-04-14
CROATIA Osiguranje has paid claims close to HRK 195 million (~EUR 26 million) for the losses caused by the two Croatian earthquakes last year, while at market level, total insured losses from the two events may amount to about HRK 600 million, Davor Tomaskovic, the company's CEO, has stated in an interview published by osiguranje.hr.

French reinsurer CCR Group reported YE 2020 GWP of EUR 1.9 billion and EUR 90 million in profits
by Andrei Victor, 2021-04-14
The French reinsurer CCR Group (CCR - Public reinsurance and CCR Re) delivered FY 2020 aggregate GWP of EUR 1,866 million and EUR 90 million in consolidated net income.

Georgia, FY2020: two companies account for about 60% of premiums mediated by insurance brokers
by Daniela GHETU, 2021-04-15
Insurance brokers of Georgia ended 2020 with a total intermediated Premiums worth GEL 71.2 million, up by 37.4% y-o-y. In relation to the market total GWP, mediated premiums by brokers accounted for about 10.6%, up from 8.3% the previous year, data published by the market authority show.

AZERBAIJAN: GWP from mandatory health insurance exceeded the target in 1Q2021
by Marina MAGNAVAL, 2021-04-12
GWP from mandatory health insurance in Azerbaijan in the first quarter of 2021 exceeded AZN 112.3 million (EUR 56.3 million*), Trend reported according to the Azerbaijani Minister of Economy Mikayil JABBAROV.

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AZERBAIJAN: the Azerbaijani Insurers Association and the Agricultural Insurance Fund to start cooperation
by Marina MAGNAVAL, 2021-04-13
A memorandum on mutual cooperation was signed between the Azerbaijani Insurers Association and the Agricultural Insurance Fund, as MENAFN informed.

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RUSSIA: S&P: non-life market remained resilient to the effects of the pandemic and this trend will continue in 2021
by Marina MAGNAVAL, 2021-04-12
The Russian non-life insurance market remained resilient to the effects of the COVID-19 pandemic in 2020 and, according to S&P, this trend will continue in 2021 amid an improving macroeconomic environment,?the agency said in its review.

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RUSSIA: payments for insured events of SBERBANK Life insurance for the first quarter of 2021 exceeded RUB 3 billion
by Marina MAGNAVAL, 2021-04-12
For the first quarter of 2021, SBERBANK Life Insurance made 24,000 payments for insured events for a total amount of RUB 3.1 billion (EUR 34.93 million*). At the same time, the number of paid claims increased by 13% y-o-y, and total amount - by 38%, the insurer said in its press release.

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TAJIKISTAN: a procedure for calculating the ratio of equity and liabilities first developed in insurance
by Marina MAGNAVAL, 2021-04-12
The National Bank of Tajikistan presented "The procedure for calculating the ratio of equity (capital) and liabilities of insurance (reinsurance) organizations", Avesta news agency reported.

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UKRAINE: in 2020, the number of accidents caused by Ukrainian drivers abroad decreased by almost 43%
by Marina MAGNAVAL, 2021-04-12
According to the MTIBU (Motor Transport Insurance Bureau of Ukraine), in 2020, Ukrainian drivers caused 2,729 accidents recorded abroad, which is 42.6% less than in 2019, the Bureau reports.

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UZBEKISTAN: Asia Insurance: 2020 - a year of development for insurers
by Marina MAGNAVAL, 2021-04-12
The 2020 crisis affected all spheres of the economy in one way or another. Some types of business fail completely, some, on the contrary, receive an additional incentive for development.

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MARKETS & TRENDS

Climate change-related litigation is a truly global phenomenon
by Alexandra GUZUN, 2021-04-15
A new report that provides an analysis of the climate change litigation landscape, aiming to better define the boundaries of this growing global phenomenon and further understand its development and impact has been issued by The Geneva Association, in collaboration with leading legal experts.

VIDEO

STATISTICS

STATISTICS: Non-life classes maintained the Bulgarian market in positive area
by Andrei Victor, 2021-04-15
Bulgar