XPRIMM News No. 485, 13 February, 2020

		Insurance Newsletter, No. 485, 13 February, 2020 Click here to subscribe! Click here to unsubscribe!

TOP NEWS UNIQA confirms the acquisition of the AXA subsidiaries in Poland, Czech Republic and Slovakia by Daniela GHETU, 2020-02-10 UNIQA confirmed purchasing AXA subsidiaries in Poland, Czech Republic and Slovakia growth markets, in an operation that will bring the Austrian group 5 million new customers and EUR 800 million in additional premiums for a purchase price of around EUR 1 billion. More Vienna Insurance Group acquired 20% interest in ViveLaCar start-up by press.release, 2020-02-12 Vienna Insurance Group (VIG) announced the acquisition of an interest of around 20% in the German start-up ViveLaCar GmbH, which is headquartered in Stuttgart. VIG's acquisition will help ViveLaCar's planned expansion into Austria and Switzerland in spring 2020. More ALBANIA: Authority launches MTPL damage registry by Cosmin CONCEATU, 2020-02-11 The Albanian Financial Supervisory Authority (AFSA) has announced the launch of a public online registry of all damages incurred for MTPL insurance policies, the insurance consumers being able to follow the course of their indemnities based on a unique identification number. More DUNAV Osiguranje gives up its Bosnian life insurance business by Daniela GHETU, 2020-02-12 Bosnian subsidiary of the Serbian DUNAV Osiguranje said it plans to give up its life insurance business, remaining active in non-life insurance only, reports SeeNews quoting a company document filed with the Banja Luka Exchange Stock. More STATISTICS: CROATIA, FY2019: insurers' GWP increased by 7% y-o-y to EUR 1.4 billion by Andrei Victor, 2020-02-13 The gross written premiums of Croatian insurers increased by 7% y-o-y to HRK 10.54 billion (EUR 1.42 billion) in 2019, according to the preliminary figures published by the Croatian Insurance Bureau. More HUNGARY: February storm claims may exceed HUF 1 billion by Andrei Victor, 2020-02-13 About 10,000 claim files were reported by Hungarian insurers following the first week of February's storms, Budapest Business Journal reported quoting MABISZ (the Hungarian Association of Insurers) representatives. More KOSOVO: CBK limits non-life insurers expenses to 24% of GWP by Cosmin CONCEATU, 2020-02-11 In order to improve the financial strength of local insurers, Central Bank of Kosovo (CBK) introduced at the beginning of February 2020 a set of rules that will limit the overall commissions and operational costs of non-life insurers to a maximum amount of 24% of all non-life gross written premiums volume. More STATISTICS: MONTENEGRO, FY2019: market expanded to almost EUR 95 million, up by 9% y-o-y by Andrei Victor, 2020-02-13 The Montenegrin market reported a 9% y-o-y growth in FY2019 GWP, to EUR 94.76 million, according to the preliminary figures published on the ISA's web-site. More Zurich Insurance Group, FY2019: consolidated revenues expanded by 53.3% to USD 71 billion by press.release, 2020-02-13 Zurich Insurance Group (Zurich) announced a net income of USD 4,147 million for the year 2019, 11.6% higher than the level recorded at the end of 2018 (FY2018: USD 3,716 million) More SCOR achieves 15.8% GWP growth during 2019 by press.release, 2020-02-11 For the full financial year 2019, SCOR Global P&C experienced a strong gross written premiums growth, of 15.8% at current exchange rates, to EUR 7.1 billion. This was driven both by Reinsurance (+16.2%) and Specialty Insurance (+14.4%). More Everest Re, FY2019: net income rose by USD 920 million by press.release, 2020-02-11 For the full year ended December 31, 2019, Everest Re Group reported a net income of USD 1,009.5 million, showing a substantial increase compared to FY2018 net income of USD 89.0 million. More MAPFRE, FY2019: group's revenues rose 7.1% at the end of the year by press.release, 2020-02-12 MAPFRE's net earnings in 2019 came in at EUR 609 million, 15.2 percent better than the previous year (FY2018: EUR 529 million), while Group revenues rose 7.1 percent to EUR 28.5 billion (FY2018: EUR 26.6 billion). More Aegon, 2H2019: July-December net income went up 260% by press.release, 2020-02-13 At the end of the second half of 2019, Aegon's net income increased significantly to EUR 910 million (+260%), while full year net income more than doubled to EUR 1,528 million (+105%). More Fitch Ratings upgrades Lithuania and Greece, affirms Azerbaijan and Slovenia by Cosmin CONCEATU, 2020-02-12 In January 2020, Fitch Ratings, a leading provider of credit ratings, took rating actions over Lithuania, Greece, Azerbaijan and Slovenia, upgrading the first two countries' ratings and affirming the others' Long-Term Foreign-Currency Issuer Default Rating (IDR). More Turkey Wealth Fund to buy GROUPAMA's 10% stake in GUNES Sigorta by Andrei Victor, 2020-02-13 Turkey's sovereign wealth fund announced its TVF Finansal Yatirimlar unit had agreed to purchase France-based Groupama Holding SA's 10% stake in Turkish insurer GUNES Sigorta, Reuters reported, quoting a statement from the sovereign wealth fund. No further details including financial terms of the transaction were available. More STATISTICS: ARMENIA, FY2019: retail insurance accounted for almost 53% of insurers' portfolios by Marina MAGNAVAL, 2020-02-13 In 2019, the Armenian insurance market grew by 19.79% in local currency, its GWP amounting to AMD 49.13 billion (~EUR 91.45 million), according to the data of insurance companies, provided by ArmInfo. More GEORGIA: in 2019 the number of beneficiaries of the state agroinsurance program increased by 31% by Marina MAGNAVAL, 2020-02-10 In 2019, total state subsidies under the agroinsurance program amounted to GEL 5.84 million (~USD 2.02 million) while the number of beneficiaries of the program increased by 31% y-o-y, as Levan DAVITASHVILI, the Minister of Environmental Protection and Agriculture of Georgia, informed. More KAZAKHSTAN: average ROE in non-life sector exceeded 12% in 2019 by Marina MAGNAVAL, 2020-02-10 Total profit of the insurance market in 2019 decreased by 0.6% y-o-y, despite its GWP growth, and amounted, according to the regulator, to KZT 78.4 billion (EUR 0.18 billion), Allinsurance.kz reports. More RUSSIA: from 2017 to 2019 GWP of RNRC doubled by Marina MAGNAVAL, 2020-02-12 According to the Russian National Reinsurance Company (RNRC), its GWP amounted to RUB 14 billion (~EUR 0.2 billion) in 2019, while its profit exceeded RUB 3 billion (EUR 43.24 million), as Natalia KARPOVA, President, Chairman of the Board of RNRC, announced. More RUSSIA: financial ombudsman service included into International Network of Financial Services Ombudsman Schemes by Marina MAGNAVAL, 2020-02-12 The Russian financial ombudsman service was included into the International Network of Financial Services Ombudsman Schemes. This decision was made at the meeting of the Organization's Committee, as ASN reports with reference to the Chief Financial Ombudsman, Yuri VORONIN. More UKRAINE: over 39% of TAS claims were paid for MTPL in 2019 by Marina MAGNAVAL, 2020-02-12 TAS Insurance group, one of TOP-5 insurance companies of Ukraine, reported that the group's GWP reached UAH 1.81 billion (~EUR 68.5 million) in 2019, which is 30.8% more y-o-y, Forinsurer writes. More

IIF 2020 - MOTOR INSURANCE - "A glimpse in the future" - meet the speakers! by team, 2020-02-12 IIF 2020 - MOTOR INSURANCE - "A glimpse in the future", the fourth conference organized in Vienna under the titles International Insurance Forum, will take place on 6 April, with a rich agenda bringing under the limelight the latest trends in the industry. Early bird rates are only available until 15 February. More On the move Swiss Re Corporate Solutions appoints Marc Scheidegger as Chief Claims Officer by press.release, 2020-02-12 Swiss Re Corporate Solutions appoints Marc Scheidegger as Chief Claims Officer. Subject to approval by the relevant authorities, Scheidegger will assume the role on 1 June 2020 and join the Swiss Re Corporate Solutions Executive Committee. More Swiss Re Corporate Solutions appoints Bianca Willauer as Head Property & Specialty Lines EMEA by press.release, 2020-02-12 Swiss Re Corporate Solutions has appointed Bianca Willauer as Head Property & Specialty Lines, EMEA, effective 1 February 2020. More Lloyd's announced inaugural members of Culture Advisory Group by Andrei Victor, 2020-02-13 Lloyd's of London announced the appointment of prominent figures as the inaugural members of its Culture Advisory Group. More STATISTIC UPDATES   STATISTICS: ARMENIA, FY2019 STATISTICS: MONTENEGRO, FY2019 STATISTICS: CROATIA, FY2019 EVENTS 3rd Annual Managing Insurance Contracts under IFRS 17 11-13 March 2020 London, United Kingdom Organizer:?marcus evans Media Partner:?XPRIMM Publications For details:?marcusevans-conferences-paneuropean.com IIF2020 - Motor Insurance Conference 6 April 2020 Bristol Hotel, Vienna, Austria Organizer: XPRIMM For details: internationalinsuranceforum.com IIF2020 - Property Insurance Conference 7 April 2020 Bristol Hotel, Vienna, Austria Organizer: XPRIMM For details: internationalinsuranceforum.com International Insurance-Reinsurance Congress 21-22 April 2020 Metropol Hotel, Moscow, Russia Organizer: The Reinsurance Committee of All-Russian Insurance Association and DELOVOY Format Group as Co-organizer Media Partner: XPRIMM Publications For details: http://icir.ru/en/2020 Georgian International Insurance Conference 30 April 2020 Radison Blu Iveria Hotel, Tbilisi, Georgia Organizer: XPRIMM Official Publication: XPRIMM Publications For details: xprimmevents.com FIAR 2020 - International Insurance Reinsurance Forum 24-26 May 2020 Sinaia, Romania Organizer: FIAR Consult & XPRIMM Publications DIA AMSTERDAM 2020 23 - 25 June, 2020 Amsterdam, The Netherlands Organizer:?DIA Media Partner:?XPRIMM Publications For details:?next.digitalinsuranceagenda.com CURRENT XPRIMM REPORTS XPRIMM Ins. Report 1H2019 RUSSIA FY2018 KAZAKHSTAN 1H2019 TURKEY 1H2019 ROMANIA 1H2019 Motor Ins. Report FY2018 Property Ins. Report FY2018