Insurance
Europe warns that EC proposals will limit number of sustainable
products available for consumers
by press.release, 2020-07-28
A group of financial sector associations - including Insurance
Europe - has written to the European Commission to warn against
its proposals to introduce a new definition of "sustainability
preferences" across the delegated acts of MiFID II, the Insurance
Distribution Directive (IDD) and Solvency II.
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Insurance
Europe: EU must not extend anti-money laundering rules designed
for banks to insurers
by press.release, 2020-07-29
Insurance Europe has today published its response to a consultation
by the European Commission on its action plan for a comprehensive
EU policy on preventing money laundering (ML) and terrorist financing
(TF).
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POLAND:
Strategic cooperation of GENERALI with 4Life Direct
by Andrei Victor, 2020-07-30
GENERALI CEE Holding announced a strategic two-fold cooperation
with 4Life Direct in Poland: "4Life Direct becomes the agent of
GENERALI in Poland and further, the cooperation includes a proposal
for holders of over eighty thousand Polish policies from the company's
partner from Gibraltar - to come under the wings of the Venetian
lion".
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STATISTICS: SLOVENIA,
1Q2020: Life & health generated two thirds of total claims paid
by insurers
by Andrei Victor, 2020-07-30
Slovenian insurance market totaled EUR 714 million at the end of
March 2020, 6.2% more y-o-y, according to the Slovenian Insurance
Association's Q1 report.
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The
Insurance Supervision Agency of Slovenia organizes its 6th annual
conference on 4th September 2020, in Ljubljana
by press.release, 2020-07-30
The Insurance Supervision Agency of Slovenia (AZN) is pleased to
invite you to the 6th annual conference with the title "HOW LOW
WE CAN GO? Sustainable Insurance in an Uncertain World" on the
4h September 2020, in Hotel Union Ljubljana, Slovenia.
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Aon:
Insurers paid out USD 30 billion due to natural catastrophes during
H1 2020
by Andrei Victor, 2020-07-27
According to the "Global Catastrophe Recap: First Half of 2020
report", recently launched by the global re/insurance broker Aon,
global natural disaster events during 1H 2020 caused total economic
losses estimated at USD75 billion - 23% lower than the 2000-2019
average of USD 98 billion.
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MUNICH
Re estimates USD 68 billion H1 2020 global NatCAT losses
by Andrei Victor, 2020-07-27
Up to the end of June, natural disasters produced overall losses
of around USD 68 billion, a slightly lower figure than the 30-year
average (USD 74 billion after adjustment for inflation), informed
MUNICH Re.
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Generali,
1H2020: GWP slightly increased, exceeding EUR 36 billion
by press.release, 2020-07-30
Generali Group ended the first half of 2020 with a net profit of
EUR 774 million, 56.7% smaller year-on-year. The profit was affected
by EUR 226 million of net impairments on investments related to
the performance of the financial markets, EUR 183 million for the
arbitration settlement for the sale of BSI and the contribution
of EUR 100 million to the Extraordinary International Fund for
the pandemic emergency.
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MAPFRE,
1H2020: Group's revenues stood at EUR 13 billion
by press.release, 2020-07-30
MAPFRE's revenue for the first six months of this year amounted
to EUR 13.3 billion, an 11.8% decrease compared to the same period
last year, while premiums totaled 11.0 billion euros (-12.3%).
This decrease falls within the context of the economic downturn
caused by the COVID-19 crisis, which began in mid-March and intensified
throughout the second quarter of the year, affecting all countries.
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PartnerRe,
2Q2020: Net income stood at USD 229 million despite pandemic challenges
by press.release, 2020-07-29
For the second quarter of 2020, PartnerRe reported a net income
available to common shareholder of USD 229 million, 19.6% lower
year-on-year. This figure includes net realized and unrealized
investment gains of USD 238 million on fixed maturities and short-term
investments, primarily due to decreases in worldwide credit spreads,
and USD 35 million of net foreign exchange losses.
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QIC,
1H2020: Group's GWP expanded by 13% y-o-y
by press.release, 2020-07-29
In the first half of 2020, Qatar Insurance Company (QIC) was adversely
impacted by the effects of COVID-19 pandemic on global economies
and financial markets. Despite these challenging market conditions,
QIC expanded its Gross Written Premium by 13%. Furthermore, QIC
successfully issued a USD 300 million perpetual subordinated Tier
2 capital notes in the second quarter of 2020.
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AM
Best affirms credit ratings of CCR and CCR RE
by press.release, 2020-07-29
AM BEST affirmed the A+ ("Superior") Financial Strength Rating
of Caisse Centrale de Reassurance (CCR) and the A ("Excellent")
Financial Strength Rating of CCR Re. The outlooks of both companies
remain stable.
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ERGO
and BMW Bank are starting a strategic cooperation
by press.release, 2020-07-29
ERGO Group and BMW Bank agreed on strategic cooperation in the
German car dealership sector. Within this framework, both companies
aim to develop digital insurance and mobility services in the future.
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ARMENIA:
insurers' total income tax increased by more than 37% y-o-y
by Marina MAGNAVAL, 2020-07-30
For the first half of 2020, total taxes of Armenian insurers amounted
to AMD 1.2 billion (~EUR 2.22 million*), which is almost 24% more
y-o-y. Income tax grew by 37.6% and reached AMD 339.6 million of
the total amount of their taxes, ArmInfo reports.
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RUSSIA:
1H2020 MTPL paid claims decreased by more than 6% y-o-y thanks
to quarantine restrictions
by Marina MAGNAVAL, 2020-07-28
In 1H2020, MTPL GWP decreased slightly y-o-y (-0.7% in local currency),
to RUB 103.26 billion (~EUR 1.3 billion*). At the same time, thanks
to restrictive measures during the pandemic, paid claims dropped
by 6.2%, to RUB 69.58 billion, ASN reports based on the data of
the Russian Association of Motor Insurers (RAMI).
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RUSSIA:
paid claims of RNRC in the first half of 2020 decreased by almost
35% y-o-y
by Marina MAGNAVAL, 2020-07-28
For the first six months of 2020, the net profit of the Russian
National Reinsurance Company (RNRC) increased by 29.6% y-o-y, to
RUB 3.9 billion (~EUR 49.37 million*), as the Finmarket portal
informed according to the reinsurer's financial report.
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STATISTICS: UKRAINE,
1Q2020: GWP reduction and paid claims grew at a similar pace —
over 13% y-o-y
by Marina MAGNAVAL, 2020-07-30
In 1Q2020, the insurance sector of Ukraine decreased by 13.37%
y-o-y in local currency, to about UAH 11.55 billion (~EUR 373 million*).
At the same time, the market paid claims recorded similar growing
dynamics, recording an increase by 13.25 y-o-y, the data published
by the National Commission for Financial Service Markets shows.
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UKRAINE:
ARX Life — 7 years on the Ukrainian insurance market
by Marina MAGNAVAL, 2020-07-30
In July 2020, ARX Life is celebrating 7 years of its operations
on the Ukrainian insurance market. The company provides life insurance
services to both corporate and individual clients. During its work,
ARX Life joined TOP-10 largest life insurers in the country, Forinsurer
reports.
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UKRAINE:
ARX Life — 7 years on the Ukrainian insurance market
by Marina MAGNAVAL, 2020-07-30
In July 2020, ARX Life is celebrating 7 years of its operations
on the Ukrainian insurance market. The company provides life insurance
services to both corporate and individual clients. During its work,
ARX Life joined TOP-10 largest life insurers in the country, Forinsurer
reports.
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