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XPRIMM News reached its 500th edition!
by XPRIMM, 2020-05-28
For the 500th time, XPRIMM News lands today, as every Thursday, on your screens with the latest news and statistics that illustrate the trends and evolutions of the insurance markets in the CEE, SEE and CIS regions.
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Insurance Europe on GDPR: EC should examine innovation impact, role of EDPB & application consistency
by press.release, 2020-05-26
On the second anniversary of the introduction of the EU General Data Protection Regulation (GDPR), Insurance Europe has published an insight briefing setting out its views on the Regulation ahead of the European Commission's upcoming review.
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UNIQA, 1Q2020: The group recorded a negative net result for the first time since 2011 euro crisis
by press.release, 2020-05-22
UNIQA Group ended the first three months of 2020 with a consolidated net result of EUR -13.2 million, COVID-19-related market effects forcing UNIQA to report a negative quarterly result for the first time since 2011 euro crisis. The result compares to an EUR 32.2 million net profit in the first quarter of 2019.
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Zurich announces the successful placement of USD 200 million of senior debt
by press.release, 2020-05-28
Zurich Insurance Group (Zurich) announced an increase of USD 200 million to the USD 200 million 2.3% senior unsecured notes due 2030, issued on February 25, 2020 by Zurich Holding Company of America, Inc., bringing the total issue size to USD 400 million.
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AZERBAIJAN: Central Bank's market improvement plan may lead to the closure of several companies
by Marina MAGNAVAL, 2020-05-27
The regulator's plan to improve the market situation may result in closure of several insurance companies. The Central Bank recently announced the cancellation of the license of Standard Insurance company, while several other insurers may be closed as well, based on the regulator's improvement plan, Trend informed.
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KAZAKHSTAN: economic effects of the pandemic will impact premium collection in 2020
by Marina MAGNAVAL, 2020-05-28
In 2019, the insurance market of Kazakhstan saw rapid growth, supported by life segment, mandatory products, and development of electronic policies for mandatory motor insurance. But, despite its impressive development during the past decade, it is yet to reach maturity, one of the latest AM Best's report shows.
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MOLDOVA: the impact of the pandemic has led to a significant decrease in voluntary insurance and Green Card segments
by Marina MAGNAVAL, 2020-05-28
The 2020 pandemic affected all sectors of Moldovan economy, including the insurance sector. Total number of new insurance contracts has decreased dramatically in the past months, a sharp decline being noticed in segments such as voluntary insurance and Green Card, CapitalMarket reports.
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RUSSIA: 1Q2020 GWP of SBERBANK Insurance increased by 33% y-o-y
by Marina MAGNAVAL, 2020-05-27
In the first quarter of 2020, according to the preliminary data reported by the company, the GWP of SBERBANK Insurance amounted to RUB 5.3 billion (~EUR 61.81 million), which reflects an increase of 33% y-o-y.
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UKRAINE: total number of paid claims to victims of traffic accidents increased by 10.3% y-o-y in the first quarter
by Marina MAGNAVAL, 2020-05-27
In the first quarter of 2020, the total number of concluded MTPL contracts reached almost 1.8 million units, which represents an increase of 0.5% y-o-y. At the same time, the corresponding GWP amounted to UAH 1.3 billion (~EUR 43 million, +20% y-o-y), as the Motor (Transport) Insurance Bureau (MTIBU) reports.
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UKRAINE: NBU plans to transform the insurance market to meet international practices
by Marina MAGNAVAL, 2020-05-28
The current legislation of the Ukrainian insurance market leaves it far behind when compared to other European countries. Its insurance penetration degree is roughly around 1.3%, while in Europe the average sits at a solid 5%. At the same time, the Ukrainian market saw a stable annual growth of about 20% in the latest years, according to the Lexology portal.
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| INSURERS
ON THE COVID-19 FRONT |
Brandstetter: Insurance industry has begun to examine if and how public-private partnerships can cover pandemic risks in the future
by press.release, 2020-05-28
Today, 28 April 2020, Insurance Europe president, Andreas Brandstetter, takes part in a roundtable meeting hosted by European Commission Executive Vice President Valdis Dombrovskis to discuss measures taken by insurers and other members of the financial sector to alleviate the impact of COVID-19 on both consumers and businesses.
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FERMA calls on the EC to address the business interruption insurance without physical damage issue by designing a PPP solution
by Daniela GHETU, 2020-05-28
The Federation of European Risk Management (FERMA) called on the European Commission to create an EU resilience framework for catastrophic risks to address the severe shortage of business interruption insurance without physical damage (NDBI) that arises in several catastrophic events, such as pandemic and massive cyber-attacks.
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SCOR asks its shareholders to accept "zero" dividends for 2019
by Daniela GHETU, 2020-05-28
The Board of Directors of the French group SCOR has announced on May 25 that it will propose to the Shareholders' Meeting of June 16, that no dividend be distributed for the 2019 fiscal year and that the entire income for that year be allocated to distributable earnings.
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Slovene TRIGLAV and SAVA to suspend pay out dividends by 1 October 2020
by Andrei Victor, 2020-05-25
Slovene re/insurane groups TRIGLAV and SAVA informed the public of the Insurance Supervision Agency's new call upon the insurance companies to suspend the payout of dividends from accumulated profit and not to undertake any irrevocable commitment to pay out dividends by 1 October 2020.
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EULER HERMES: Global economy in 2020 is at -3.3% prior to the biggest recession since World War II
by Andrei Victor, 2020-05-25
The coronavirus pandemic is leaving deep scars on the global economy. According to the credit insurer EULER HERMES, this will likely to lead to a deep recession in world trade and the global economy - and consequently to a wave of insolvencies worldwide.
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Aon appoints PETREVSKI as Senior VP and GM of Data & Analytic Services
by Andrei Victor, 2020-05-25
Global re/insurance broker Aon announced it has promoted Steve PETREVSKI as
Senior Vice President and General Manager of Data & Analytic Services.
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CEO of RBI appointed to UNIQA supervisory body
by Andrei Victor, 2020-05-26
Johann STROBL, CEO of RAIFFEISEN Bank International AG (RBI), was elected to
the Supervisory Board of UNIQA Insurance Group AG by the Annual General Meeting.
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AVIVA appoints George CULMER as Chairman
by Andrei Victor, 2020-05-25
AVIVA plc announced the appointment of George CULMER as Non-Executive Chairman with effect from the 27th May 2020, following the AVIVA AGM.
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Carlos Gonzalez-Perandones to replace Cornelia COMAN as of CEO NN Spain
by Andrei Victor, 2020-05-26
Carlos GONZALEZ-PERANDONES, currently Chief Sales Officer (CSO) of Nationale-Nederlanden
Spain, has been appointed Chief Executive Officer of Nationale-Nederlanden Spain,
effective 1 June.
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