XPRIMM News
Insurance Newsletter, No. 479, 19 December, 2019

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


TOP NEWS
Swiss Re Institute: Secondary perils' toll is visibly increasing
by Daniela GHETU, 2019-12-19
Secondary perils' share in the total economic losses from natural disasters is increasing, Swiss Re Institute's report Insurance in a world of climate extremes shows. While 2019 was, overall, a "calmer" year in Nat Cat terms, as compared with the previous year and the last decade's average indicators, losses produced by less spectacular, but more frequent events are increasing.
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VIG received gold medal at BEST RECRUITERS Awards

by Cosmin CONCEATU, 2019-12-16
For the third year in a row, Vienna Insurance Group (VIG) has received the gold award for the insurance industry at the annual BEST RECRUITERS ranking.
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Aon: flooding and storms in Europe result in significant economic loss in November
by press.release, 2019-12-19
Aon plc launched the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during November 2019.
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BiH: Regulator temporarily suspended AURA Sarajevo MTPL license
by Cosmin CONCEATU, 2019-12-17
On December 11, 2019, The Insurance Supervision Agency of the Federation of Bosnia and Herzegovina announced the temporary withdrawal of AURA license to perform MTPL business in Tuzla Canton.
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CZECH REPUBLIC: Supervisory stress tests confirmed that insurers and banks are resilient
by Andrei Victor, 2019-12-17
In September, the Czech National Bank (CNB) completed this year's round of supervisory stress tests of banks and insurance companies. The tests used data as of the end of 2018. "Their results demonstrated that the two sectors are still prepared to withstand a deterioration in economic conditions", as CNB affirmed in a statement.
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STATISTICS: ROMANIA, 3Q2019: motor insurance lines determine once again the market dynamics
by Daniela GHETU, 2019-12-19
Romanian insurance market has achieved a 6.7% y-o-y growth in GWP terms, reaching a total volume of EUR 1.7 billion at the end of Q3. At the same time, claims paid by the insurers went up by 13%, to EUR 1.04 billion, mostly because of the increasing claims expenses on the MTPL line.
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ROMANIA: The private pensions industry's share in GDP increased to 6.22%
by Andrei Victor, 2019-12-17
The value of total assets under administration, at the level of the entire private pension system, reached RON 61.53 billion (EUR 12.95 billion), as of September 30, 2019, up 24.04% from December 2018. The share of private pensions in Gross Domestic Product was, at the end of September 2019, 6.22% compared to 5.22% in December 2018.
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Fitch upgrades Adriatic Slovenica IFS Rating from 'BBB+' to 'A'
by Cosmin CONCEATU, 2019-12-16
On December 13, 2019, Fitch Ratings made the announcement of upgrading Adriatic Slovenica d.d.'s (Adriatic) Insurer Financial Strength (IFS) Rating to 'A' from 'BBB+'.
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STATISTICS: SERBIA, 3Q2019: insurers' premiums rose 6% y-o-y
by Andrei Victor, 2019-12-19
The GWP of Serbian insurers increased 5.9% year-on-year to RSD 79 billion (EUR 672 million*) in the first nine months of 2019, according to the most recent figures published on the website of National Bank of Serbia (NBS).
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VIG receives award as the most innovative insurance company
by press.release, 2019-12-18
The third round of pitches in Vienna Insurance Group's "VIG Xelerate" digitalisation initiative ended in November 2019. VIG is providing around EUR 5 million to promote award-winning projects submitted by its Group companies.
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AXA has become the largest 100% foreign-owned P&C insurer in the Chinese market
by Andrei Victor, 2019-12-19
French insurance group AXA announced that it has completed the acquisition of the remaining 50% stake in Chinese insurer AXA Tianping Property & Casualty Insurance Company Ltd from its domestic shareholders, becoming the largest 100% foreign-owned P&C insurer in local market.
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AM Best revised Barents Re outlooks to negative
by press.release, 2019-12-16
On December 13, 2019, AM Best announced the revision of the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Barents Re and Barents Re Lux.
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AZERBAIJAN: the cabinet of ministers approved the Statute of the Agricultural Insurance Fund
by Marina MAGNAVAL, 2019-12-18
The cabinet of ministers of Azerbaijan approved the Statute of the Agricultural Insurance Fund, Trend reports with reference to the cabinet.
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STATISTICS: BELARUS, 3Q2019: over 60% of the paid claims fell on voluntary classes
by Marina MAGNAVAL, 2019-12-19
Market GWP for 9 months of 2019 amounted to BYN 1.03 billion (EUR 455.06 million*), in local currency translating in an almost 13.70% increase y-o-y, as the data published by the Ministry of Finance of the Republic show.
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KAZAKHSTAN: the country is ready to introduce mandatory social health insurance from April 1, 2020
by Marina MAGNAVAL, 2019-12-18
According to the Ministry of Health of Kazakhstan, the country is ready to introduce mandatory social health insurance, 97% of the population already being updated in the databases, allinsurance.kz reports.
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RUSSIA: in 2019 the number of regions with state support of agroinsurance increased to 57
by Marina MAGNAVAL, 2019-12-19
On December 17, the Ministry of Agriculture announced the planned volume of agroinsurance subsidies in Russia for 2020, which could be increased to RUB 4.2 billion (~EUR 60 million) vs. the initially planned RUB 2.2. billion (~EUR 31.5 million), ASN reports.
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STATISTICS: UKRAINE, 3Q2019: almost 61% of GWP came from legal entities
by Marina MAGNAVAL, 2019-12-19
GWP of the Ukrainian insurance market at the end of 3Q2019 increased to UAH 40.56 billion (EUR 1.54 billion*), which in local currency is 16.3% more y-o-y. Net premiums increased by 18.8% (to almost UAH 30.15 billion), as the data of the regulator show.
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UKRAINE: e-MTPL policies exceeded 1 million units sold
by Marina MAGNAVAL, 2019-12-19
The total number of e-MTPL policies in 2019 (as of the mid-December) increased 7.6 times from 2018 level, to over 1 million e-policies (vs. 137.8 e-policies sold in 2018), Forinsurer reports.
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UZBEKISTAN switches to IFRS starting 2021
by Marina MAGNAVAL, 2019-12-18
From 2021, Uzbekistan will switch to International Financial Reporting Standards (IFRS) - as follows from the draft resolution of the President of Uzbekistan "On additional measures for the transition to international financial reporting standards", published on the Uzbekistan's state portal (in Uzbek language).
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VIG

VIG

On the move
Achim KASSOW joins Munich Re Board of Management
by press.release, 2019-12-16
On December 12, 2019, the Supervisory Board of Munich Re has appointed Dr. Achim KASSOW (53) to the Board of Management with effect from 1 May 2020.
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Roger HODGKISS promoted to Member of GENERALI Polska Management Board
by Cosmin CONCEATU, 2019-12-17
On December 13, 2019, during the meeting of the Supervisory Board of Generali TU SA, Roger HODGKISS was appointed as Member of the Company's Management Board.
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Mirela Agache Durand proposed as CEO of Groupama Asset Management
by press.release, 2019-12-18
Mirela Agache Durand is joining Groupama to be nominated by the Board as Chief Executive Officer at Groupama Asset Management.
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MARKETS & TRENDS

Marsh: Global commercial insurance pricing went up 7.8% in 3Q2019
by Cosmin CONCEATU, 2019-12-19
Global commercial insurance prices increased by 7.8% year-over-year at the end of the third quarter of 2019, according to Marsh's quarterly Global Insurance Market Index
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TRUST RE

STATISTIC UPDATES
STATISTICS: ROMANIA, 3Q2019
STATISTICS: SERBIA, 3Q2019
STATISTICS: UKRAINE, 3Q2019
? STATISTICS: BELARUS, 3Q2019

ERGO
EUROINS

EVENTS
Bancassurance Sales Training Masterclass 2020
15 - 17 January 2020
Bangkok, Thailand
Organizer:?EQUIP Global
Media Partner:?XPRIMM Publications
For details:?equip-global.com?

2nd Edition INSURETEK 2020 - Insurance Conference & Golden Shield Excellence Awards
29 January 2020
Dubai, United Arab Emirates
Organizer:?Aries Group Global
Media Partner:?XPRIMM Publications
For details:?insuretek.org


Bancassurance Masterclass Africa 2020
11 - 13 February 2020
Johannesburg, South Africa
Organizer:?EQUIP Global
Media Partner:?XPRIMM Publications
For details:?equip-global.com

IIF2020 - Motor Insurance Conference
6 April 2020
Bristol Hotel, Vienna, Austria

IIF2020 - Property Insurance Conference
7 April 2020
Bristol Hotel, Vienna, Austria

Georgian International Insurance Conference
30 April 2020
Radison Blu Iveria Hotel, Tbilisi, Georgia
Organizer: XPRIMM
Official Publication: XPRIMM Publications

FIAR 2020 - International Insurance Reinsurance Forum
24-26 May 2020
Sinaia, Romania
Organizer: FIAR Consult & XPRIMM Publications

Conference "Insurance in Azerbaijan: Trends & Opportunities"
June 2020
Baku, Azerbaijan
Organizer: XPRIMM Publications


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CURRENT XPRIMM REPORTS
XPRIMM Ins. Report 1H2019
RUSSIA FY2018
KAZAKHSTAN 1H2019
TURKEY 1H2019
ROMANIA 1H2019
Motor Ins. Report FY2018
Property Ins. Report FY2018

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