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XPRIMM News No. 510, 6 August, 2020

XPRIMM News
Insurance Newsletter, No. 510, 6 August, 2020

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES


TOP NEWS
Insurance Europe calls for free access to credit ratings for internal and regulatory purposes
by press.release, 2020-08-04
Insurance Europe has published its response to a call for evidence by the European Securities and Markets Authority (ESMA) on credit rating information and data.
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Insurance Europe responds to EC roadmap for Capital Markets Union action plan
by press.release, 2020-08-05
Insurance Europe has published its response to a consultation by the European Commission on its roadmap for the Capital Markets Union (CMU) action plan.
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New insight briefing: Insurance Europe's views on artificial intelligence
by press.release, 2020-08-04
Insurance Europe has published an insight briefing about the European insurance industry's views on artificial intelligence (AI).
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Beirut explosion will be "a major loss" for Hannover Re
by Ana PREDA, 2020-08-06
Beirut explosion from 4th August 2020 will "pretty certain" be "a major loss" for Hannover Ruck SE, Sven Althoff, reinsurer's head of property and casualty, commented, cited by S&P Global Market Intelligence.
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EU Commission approves UNIQA's acquisition of AXA in Poland, the Czech Republic and Slovakia
by Andrei Victor, 2020-08-05
Austrian insurer UNIQA announced that the EU Commission has not identified any conflicts in relation to competition law and has approved the UNIQA's acquisition of AXA in Poland, the Czech Republic and Slovakia without any conditions.
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Aon, 2Q2020: Net income went up 44% year-on-year
by press.release, 2020-08-03
Aon plc ended the second quarter of 2020 (April - June) with a net income attributable to the company of USD 397 million, 44% more year-on-year. Net income per share from continuing operations attributable to Aon shareholders, adjusted for certain items, increased 5% to USD 1.96, (2Q2019: USD 1.87).
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MMC, 2Q2020: Consolidated net income expanded by 72% y-o-y
by press.release, 2020-08-03
For the second quarter of this year, from April to June 2020, Marsh & McLennan Companies (MMC) reported a net income attributable to the company of USD 572 million, 72% more than in the second quarter of 2019.
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Swiss Re, 1H2020: The group booked USD 2.5 billion claims and reverses related to COVID-19
by press.release, 2020-08-03
For the first six months of 2020, Swiss Re reported a net loss of USD 1.1 billion, after booking claims and reserves related to COVID-19 of USD 2.5 billion. Excluding the impact of COVID-19 losses, net income amounted to USD 865 million for the period, reflecting a strong underlying business performance across the group.
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Munich Re, 2Q2020: Consolidated profit stood at EUR 579 million, impacted by COVID-19 losses
by press.release, 2020-08-06
In the second quarter of 2020, Munich Re generated a consolidated profit of EUR 579 million, 41.7% smaller compared to the value recorded in the second quarter of 2019. COVID-19 related-losses totaled EUR 700 million, dragging the profit down.
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Hannover Re, 1H2020: GWP exceeded EUR 13 billion, but major pandemic losses dragged the net income down 39%
by press.release, 2020-08-05
Hannover Re Group ended the first half of 2020 with a net income of EUR 402 million, 39.3% lower than the same period of prior year. The operating profit (EBIT) decreased by 46.6% to EUR 504 million.
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Allianz, 1H2020: Total revenues remained stable, net income shrunk by more than a fourth
by press.release, 2020-08-05
Allianz Group ended the first half of 2020 with a net income of EUR 3.1 billion, 28.2% lower than the value reported in the first half of the prior year. The decrease in the net income attributable to shareholders was largely driven by the drop in operating profit, the group reports.
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ERGO, 2Q2020: Second quarter profit went up 27.4% year-on-year
by press.release, 2020-08-06
During the second quarter of 2020, ERGO, part of Munich Re, generated a sizeable profit of EUR 173 million (+27.4%) in its field of business, while for the January-June 2020 period, it's consolidated profit reached EUR 245 million (+11.4%).
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Fairfax, 2Q2020: GWP expanded 8% while net earnings stood at USD 435 million
by press.release, 2020-08-06
For the second quarter of 2020, from April to June, Fairfax Financial Holdings announced net earnings of USD 435 million, compared to net earnings of USD 494 million in the second quarter of 2019.
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ACHMEA: Supreme Court rules on the fiscal treatment of former stake in PZU
by Andrei Victor, 2020-08-05
Dutch insurer ACHMEA announced on 10 July 2020, the Supreme Court of the Netherlands ruled in a case between ACHMEA and the Tax and Customs Administration. In its judgement, the Supreme Court has reached the same conclusion as the Court of Justice did earlier.
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ARMENIA: ROSGOSSTRAKH was the leader in terms of agroinsurance GWP and paid claims during 1H2020
by Marina MAGNAVAL, 2020-08-03
For the first half of 2020, the GWP under agricultural risks insurance amounted to AMD 131 million (~EUR 0.24 million*), 82.2% of the GWP being ceded to reinsurance. Paid claims in the segment reached AMD 8.4 million, ArmInfo reports.
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AZERBAIJAN: Coronavirus pandemic has led to a sharp reduction of MTPL premiums and claims
by Marina MAGNAVAL, 2020-08-03
The impact of the coronavirus pandemic has led to a decrease in cars usage, therefore to a decrease of MTPL claims. In May 2020, the total volume of claims paid dropped by 94% y-o-y, as Trend reports citing the Association of Insurers of Azerbaijan figures.
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KAZAKHSTAN: 98% of life insurance paid claims fell on three companies during January-May
by Marina MAGNAVAL, 2020-08-03
From January to May 2020, the overall GWP of the Kazakh life insurers increased by 4.1% year-on-year, to KZT 27.5 billion (~EUR 60 million*), while paid claims jumped by almost 75% y-o-y. At the same time, the share of life insurance in the market portfolio slightly decreased (-0.6%), to 12.1%, as Allinsurance.kz reports pointing to the data of ranking.kz portal.
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RUSSIA: January-June number of insured livestock with state support increased by 30% y-o-y
by Marina MAGNAVAL, 2020-08-04
In the first half of 2020, about 3.4 million livestock items were insured with state support, which is 30% more y-o-y, according to the National Association of Agriculture Insurers (NAAI) figures.
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RUSSIA: S&P affirms AlfaStrakhovanie at BB+, outlook stable
by Marina MAGNAVAL, 2020-08-05
S&P Global Ratings affirmed the long-term financial strength rating of AlfaStrakhovanie at BB+, outlook stable. The affirmation of the rating reflects the agency's view of the company's leading market position and strong operating performance, as S&P explained in the report.
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UZBEKISTAN: in the first half of the year paid claims of KAFOLAT increased by more than 18% y-o-y
by Marina MAGNAVAL, 2020-08-06
During the first half of 2020, the insurance company KAFOLAT concluded over 320 thousand insurance contracts for a total insurance amount of UZS 80.3 billion (~EUR 7.86 million*), according to the company's preliminary data.
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ON THE CORONAVIRUS FRONT
MUNICH Re and FRAUNHOFER grant awards for ideas for treatment of Covid-19
by Andrei Victor, 2020-08-05
Against the background of the Covid-19 pandemic, MUNICH Re and the FRAUNHOFER-GESELLSCHAFT launched the Give a Breath Challenge in March of this year. They aim to promote innovative ideas that can help people who have contracted the new coronavirus, contributing their own expertise and networks, and funding totalling EUR 1 million.
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Gen Z and Millennial employees lead interest in expat assignments despite challenging times
by Andrei Victor, 2020-08-05
A MetLife study shows that, despite the current global environment, nearly one-third of employees are still willing and interested in expat work assignments, but employer support is needed.
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ON THE MOVE
Guy Carpenter appoints Canada President and CEO
by press.release, 2020-08-05
Guy Carpenter & Company, part of Marsh & McLennan Companies (MMC), announced the appointment of Peter Askew as President and CEO, of Guy Carpenter's Canadian business, with immediate effect.
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Guy Carpenter appoints three new members to its Executive Committee
by press.release, 2020-08-03
Guy Carpenter & Company, part of Marsh & McLennan Companies (MMC), announced the appointment of three new members to its Executive Committee.
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CHUBB announces management changes to its life and general insurance operations in Asia
by Andrei Victor, 2020-08-05
CHUBB Limited today announced management changes to its life and general insurance operations in Asia.
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STATISICS
STATISTICS: POLAND, 1Q2020: Insurance market grew 2.4% y-o-y
by Andrei Victor, 2020-08-06
Insurance companies in Poland underwrote gross premiums of PLN 16.74 billion (EUR 3.68 million*) in the first three months of 2020, up 2.4% year-over-year, the country's Financial Supervisory Authority (KNF) said in a report.
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STATISTICS: ROMANIA, 1Q2020: Private health insurance expanded by 44% y-o-y
by Cosmin CONCEATU, 2020-08-06
Between January-March 2020, the Romanian insurance market wrote a gross amount of premiums of RON 2.95 billion (~EUR 612 million*), up 8.8% year-on-year, and paid a total volume of claims in amount of RON 1.79 billion (~EUR 370 million*), 14.2% more y-o-y, the latest figures from the Financial Supervisory Authority (ASF) show.
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STATISTICS:
CIS Region, 1Q2020: Tajikistan's insurance sector almost doubled in size, while most regional markets recorded negative results

by Marina MAGNAVAL, 2020-08-06
In the first quarter of 2020, the overall CIS regional market decreased in GWP volume by 3.8% y-o-y (after currency conversion to EUR). Total regional GWP reached approximately EUR 6.09 billion*, according to one of XPRIMM latest statistical analysis.
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WorldPensionSummit 2020
20-22 October 2020
Louwman Museum, The Hague, The Netherlands
Organizer:?P&I Events
Media Partner:?XPRIMM Publications
For details:?pionline.com/wps2020

How Low We Can Go? Sustainable Insurance in an Uncertain World
4 September 2020
Hotel Union Ljubljana, Slovenia
Organizer:?The Insurance Supervision Agency of Slovenia (AZN)
Media Partner:?XPRIMM Publications
For details:?a-zn.si



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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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