The digital edition of the Georgian International Insurance Conference, one of the most important events on the Georgian market dedicated to insurance and reinsurance, and a top-level platform for the exchange of business insights is ON AIR NOW. Important statements of the speakers are presented below.

Fitch Ratings assigned Agros Hayot an Insurer Financial Strength (IFS) Rating of 'B+'. The Outlook is Stable, according to the agency's website.

In Ukraine, the Verkhovna Rada adopted in the first reading draft of law No. 5104 "On amendments to the Tax Code of Ukraine and other Laws of Ukraine concerning improving legal regulation of insurance of agricultural products with state support", Forinsurer reported.

NKR national rating agency assigned ROSGOSSTRAKH Life a credit rating at AA.ru, outlook stable. As the agency notes, in 2021, the growth of the company's GWP will outstrip the market, and ROSGOSSTRAKH Life will maintain high profitability, according to the insurer's press release with reference to the NKR website.

From January to March 2021, GWP of ROSGOSSTRAKH amounted to RUB 23.6 billion (EUR 0.26 billion*), which is 5.5% more y-o-y, ASN reports.

In 1Q2021, assets of the Kazakhstani insurers increased by 19% y-o-y and by 9% compared to the entire 2020. The driver of this growth was life insurers (+31%), while the assets of non-life insurers grew within 10-12%, Allinsurance.kz reports with reference to AFK (Association of Financiers of Kazakhstan).

The Ukrainian insurance market ended 2020 with a GWP drop by almost 15%, to UAH 45.18 billion (EUR 1.3 billion), primarily due to the exit from the market of several insurers and a decrease in risk insurance in the crisis second quarter.

The insurance market of Kosovo totaled EUR 25.7 million at the end of Q1 2021, 12.5% more y-o-y, according to data provided by the Central Bank (CBK).

The figures reveal that the quarterly aggregate market result was negative, the 13 local insurers reporting a net loss of EUR -0.6 million, from a net profit of EUR 2.1 million at the end of March 2020.

Following the results of the first quarter of 2021, the insurance sector of Azerbaijan showed a fairly moderate growth (+3.42%) to AZN 248.99 million (EUR 125.13 million), according to the data published by the country's Central Bank.

From January to March 2021, the insurance market of Armenia grew by 3.37% (in local currency), to AMD 16.35 billion (EUR 26.25 million), as the data on the activities of insurance companies provided by ArmInfo show.

UNIQA Insurance Group AG (UNIQA) delivered a strong performance at the start of 2021 and showed growth of the underwriting result to EUR 62.5 million and investment income to EUR 150.1 million. Also, the total GWP by the UNIQA Group, including the savings portion of unit- and index-linked life insurance, increased by 13.0 %.

The insurance company SIGNAL IDUNA ASIGURARE REASIGURARE announces as of May 20, 2021 the signing of an agreement for the acquisition of the companies ERGO Asigurari de Viata and ERGO Asigurari, part of the ERGO Group. The transaction will be subject to the approval of the Financial Supervisory Authority (ASF) and the Romanian Competition Council.

In the first quarter of 2021, the Sava Insurance Group generated EUR 177.9 million in operating revenue and a net profit of EUR 23.5 million. The Sava Insurance Group's operating revenue and net profit represented 26.0% and 44.3%, respectively, of the full-year 2021 target., according to the press release.

Aon will sign an agreement with Lane Clark & Peacock LLP (LCP) in order to sell the firm's retirement and investment business in Germany. The transaction provides further momentum on path to close proposed combination with Willis Towers Watson, which is designed to accelerate innovation on behalf of clients.

The proposal of a single rulebook is welcome by the insurance sector, as it helps avoid overlaps and duplications between Sustainable Finance Disclosure Regulation (SFDR) and Taxonomy Regulation (TR), while making regulatory requirements more efficient. However, in order to achieve the Taxonomy's objectives, some areas require urgent attention.

The Competition Council of Romania has authorized the transaction through which ALLIANZ-TIRIAC Asigurari takes over the company GOTHAER Asigurari Reasigurari. The Romanian subsidiary of GOTHAER is active since 2012, but in recent months, the German Group has changed its strategic direction to focus on the home market.

Generali Group has presented their financial results at 31 March 2021 with an excellent business profitability and a strong growth in operating result how stood at EUR 1.6 billion (+11%) due to the positive development of the P&C, Asset Management and Holding and other businesses segments.

Triglav Group posted a total of EUR 371.7 million in consolidated GWP, up by 7% y-o-y, and achieved premium growth in most markets. Profit before tax in Q1 amounted to EUR 31.8 million, up by 21% y-o-y and 6% higher than in Q1 2019.

For the first quarter 2021, Vienna Insurance Group (VIG) reported an increase of profit (before taxes) by 5% to EUR 128 million compared to the same period of the previous year. The total premium volume reached EUR 3.11 billion and the Romania, Czech Republic and Poland segments recorded the highest absolute premium increase.

Peak Reinsurance Company Limited (Peak Re), the Hong Kong-based global reinsurer, announced that Sascha Bruns has been appointed Director, Head of Global Retrocession. Mr. Bruns will lead the design and implementation of the company's retrocession strategy for global Property & Casualty business.