The Corona pandemic and the flood disaster on the Ahr have had a strong impact on the business results of German insurers, data presented by the German Insurers Association (GDV) show. For the first time since 2013, companies in the P&C insurance sector were in the red last year.
Thee aggregate GWP reported by the 17 CEE insurance markets totaled EUR 30.35 billion at the end of September 2021, about EUR 2.4 billion more as compared with 3Q2020 (+8.56% y-o-y), according to the quarterly market figures centralised by xprimm.com. For the analysed period, the aggregate claims and indemnities paid by CEE insurers increased by almost EUR 1 billion to EUR 17 billion (+6% y-o-y).
The First Congress of Actuaires du Monde, co-organized by Actuaires du Monde, Insurance Supervision Agency and the Macedonian Actuarial Association, will take place at the Marriott Hotel, in Skopje (North Macedonia) on 31 March & 1 April 2022. The media coverage will be assured by XPRIMM.
Global brokerage firm Willis Towers Watson announced the rebranding as WTW, combined with the company's new Nasdaq ticker symbol. On January7th, the broker informed its ticker symbol on the Nasdaq stock market "will change to "WTW" at the open of market trading on Monday January 10, 2022". Willis Towers Watson has traded under the ticker "WLTW" since 2016.
SCOR Investment Partners SE, the SCOR Group's asset management company, announces changes within its Business Development team to realize its third-party asset management growth ambitions and expand its client relationships.
Assicurazioni Generali informs that the director Sabrina PUCCI, independent director and member of the Remuneration and Appointments and Risk and Control Committees, has announced her resignation from the Board due to personal reasons.
Chubb announced that Miriam CONNOLE has been appointed Chief Financial Officer for Overseas General Insurance, the company's international general insurance operations.
The Latvian insurance market will continue to grow this year, with GWP growing by about 3-5%, according to Janis ABASINS, President of the Latvian Insurers Association and Chairman of the Board of the Latvian Motor Insurers' Bureau.
Marsh McLennan announced Moreland MURRAY as its Chief Inclusion and Diversity Officer (CIDO). He continues in his role as Chief People Officer for the Company's corporate functions, reporting to Carmen Fernandez, Chief People Officer, Marsh McLennan.
For the period from January to November 2021, the number of MTPL contracts concluded in Ukraine amounted to 8.24 million units, which is 8.38% more y-o-y.
Pavel RUDENSKY has been appointed Vice President of RNRC (Russian National Reinsurance Company) for business development with the CIS. Mikhail SEPP, who headed this RNRC business unit, has been appointed vice president for retrocession and sustainable business development, ASN wrote
according to information from the reinsurer.
According to the National Bank, as of December 1, 2021, there were 27 insurance (reinsurance) organizations operating in Kazakhstan, their total assets amounted to almost KZT 1.78 trillion/EUR 3.60 billion*. GWP collected as of this date amounted to KZT 725 billion, liabilities - approximately KZT 1.05 trillion (including KZT 871.26 billion of insurance reserves), Allinsurance.kz writes citing inbusiness.kz
According to the Bureau of Motor Insurers of Armenia, the number of vehicles with MTPL policy increased by 9.6% in 2021 (after a decline of 12.4% in 2020), however, it is still far from the pre-Covid growth of 18.5% in 2019, ArmInfo reports
Moody's has assigned to the Export Insurance Agency of Armenia (EIAA) insurance financial strength ratings (Insurance Financial Strength Ratings - IFSRs) at Ba3 in foreign and national currencies, with a stable outlook, ArmInfo reports
Lloyd's announced the appointment of Dawn MILLER as its Commercial Director reporting into Lloyd's Chief of Markets, Patrick TIERNAN. Dawn MILLER will take up the new position at Lloyd's in Q2 2022 and will be based in London.
Europ Assistance (EA), a subsidiary of the Generali Group, announced the acquisition of Slovenia-based company Call 365. Call 365 has been operating as Europ Assistance exclusive partner in Slovenia for 3 years, providing roadside and travel assistance services to Slovenian customers and travelers to Slovenia.
In January-December 2021, SberLife Insurance made 100.2 thousand payments for insured events under voluntary life insurance contracts of borrowers of consumer and mortgage loans, and total amount of paid claims reached RUB 11.687 billion (~EUR 0.14 billion*). The number of claims increased by 29.4%, and amount - by 42.3% y-o-y, according to the insurer's press release.
Cyber perils are the biggest concern for companies globally in 2022, according to the Allianz Risk Barometer. The threat of ransomware attacks, data breaches or major IT outages worries companies even more than business and supply chain disruption, natural disasters or the Covid-19 pandemic, all of which have heavily affected firms in the past year.
Polish insurance market totaled PLN 50.9 billion (EUR 10.9 billion) at the end of September 2021, up by almost 7% y-o-y, according to the quarterly market figures published by The Polish Financial Supervision Authority (KNF). Claims and benefits paid by local insurers increased by 2.9% y-o-y to PLN 30.2 billion or ~EUR 6.5 billion.
The Slovenian insurance market totaled EUR 2.03 billion in the first nine months of 2021, a 3.29% increase y-o-y, according to the Slovenian Insurance Association's Q3 report. In terms of paid claims, the aggregate value was ~EUR 1.18 billion, of which about EUR 387 million - life indemnities and EUR 803 million - payments related to non-life insurance sub-classes.