For the first quarter, GWP of KAPITAL Life (among TOP-5 life insurers) increased by 14% y-o-y, exceeding RUB 5.3 billion (~EUR 61.82 million). Besides, based on the quarterly results, the company maintained leadership in terms of the number of effective accumulative life insurance contracts, ASN reports based to the data of the All-Russian Insurance Association (ARIA).

Written by - Roger Peverelli & Reggy de Feniks - Founders The DIA Community

Even before Covid-19 began its global march, the insurance industry was gearing up for profound change. But as the events of 2020 continue to evolve, there is growing sense of urgency for carriers to accelerate delivery of spot-on solutions for their customers.

Between January - March 2020, Triglav Group registered a net profit of EUR 22.4 million, 12% lower year-on-year due to major CAT events and a sharp decline on the international financial markets caused by COVID-19 pandemic.

For the first quarter of 2020, Sava Insurance Group generated operating revenues in amount of EUR 149.0 million (+16.2% year-on-year) and a net profit of EUR 10.3 million (-5.6% y-o-y).

Global insurance broker MARSH released last week the Global Insurance Market Index for the first quarter of 2020. The increase, the largest since the index was launched in 2012, comes despite the minimal impact of the COVID-19 global pandemic on pricing in the quarter.

Bulgaria's Financial Supervision Commission announced that it approved that local life insurer GROUPAMA Life Insurance to absorb its other life unit: GROUPAMA EXPRESS Life.

Following the death of Stefan LIPPE - AXA Director since 2012 and former Chief Executive Officer of the Swiss Re Group, Director of the Company and Chairman of the Audit Committee, AXA's Board of Directors, upon recommendation of its Compensation & Governance Committee, decided to designate Irene DORNER, director of the Company and member of the Audit Committee since April 2016, as Chairwoman of the Audit Committee. Irene DORNER should remain Chairwoman for approximately a year.

National governments must help provide insurance cover for future lockdowns, as the private sector cannot afford to provide such broad coverage on its own - the EIOPA Chairman, Gabriel BERNARDINO stated on Monday, quoted by Reuters.

The Economic Chamber of Macedonia hosted today a live webinar, where leading experts provided their views on the financial and strategic implications for the insurance industries. Read the main statements.

Since the onset of the health emergency, Zurich has delivered on its commitment to customers. The Group is providing additional financial relief through premium rebates, payment holidays and extensions of coverage. Customer interactions have been simplified by creating or expanding options to report claims by video, sign documents electronically or request remote risk assessments. The Group's additional measures to support customers and its commitments to communities totaled more than USD 90 million in the first quarter.

For the first three months of 2020, PartnerRe reported a net loss attributable to common shareholder of USD 433 million. This compared to a net income available to common shareholder of USD 497 million in the first quarter of 2019.

The insurance market of CIS region in 2019 saw an increase in european currency by more than 16% at region level. Most individual markets recorded growth rates in EUR currency, ranging between 8.5% to 36.0%, while only two out of twelve markets faced, on the contrary, decreases y-o-y in terms of market premiums, as the data collected by XPRIMM during 2019 show.

In 2019, the GWP of the Belarusian market amounted to BYN 1,403.4 million (~EUR 596.6 million), which is almost 14.5% more y-o-y in local currency. It's worth noting that the market growth rate remained mainly at the same level as a year before (+14.6% in 2018), maintaining its upward trajectory, the latest data from the Ministry of Finance of the Republic show.

Johann STROBL, currently CEO of Raiffeisen Bank International AG (RBI), will be proposed to the UNIQA Insurance Group AG (UNIQA) Annual General Meeting on May 25, 2020 for election to the Supervisory Board.

Lead Ventures, a Budapest based venture capital firm, is investing EUR 3 million to assist the growth of AMODO, a US/Croatian insurtech company that has developed a Connected Insurance platform supporting the introduction of Usage Based Insurance products, currently used by several insurers worldwide.

Despite the difficult working conditions associated with the pandemic, the MTPL market of Ukraine remained stable in the first quarter of 2020. Total number of contracts concluded in this period exceeded by 0.5% the level of 1Q2019, as the Motor (Transport) Insurance Bureau (MTIBU) reports.

In April this year, the number of appeals to the financial ombudsman dropped by almost 28% compared with the results of March, which is primarily due to a decrease in activity under restrictive quarantine measures, the press service of the financial ombudsman reports.

GWP of ARX company for 1Q2020 increased by 19% y-o-y and reached about UAH 626 million (~EUR 20.7 million). The portfolio was dominated by motor insurance (49%), health insurance (23%) and property insurance (15%), Forinsurer reports.

O`zbekinvest Hayot, the leader of the Uzbek insurance sector, announced the results of its paid claims for 1Q2020. January-March 2020 paid claims amount exceeded UZS 27.4 billion (~EUR 2.7 million), UzReport informed.