XPRIMM News No. 534, 04 February 2021

Insurance Newsletter No. 534, 04 February 2021

www.xprimm.com

www.xprimm.com

TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES

TOP NEWS

EIOPA Conference:The role of insurance and pension is securing a strong and sustainable recovery
by Alexandra GUZUN, 2021-02-04
At the 10th anniversary, EIOPA Conference has started the discussion with a look at the future and the challenges arising from the current crisis and which is the role for the insurance and pension sector plays in fostering shared resilience and economic recovery.

EIOPA Conference: Second panel highlighted the protection gaps that insurance and pensions sector are confronting
by Alexandra GUZUN, 2021-02-04
On the second panel of the 10th annual Conference of EIOPA the speakers discussed about the Coronavirus pandemic which has highlighted lack of cover for many businesses, but protection gaps also exist for natural catastrophes and cyber security. In the area of savings, the pension gap is one of the most serious issues facing people across all ages and demographics. How can the insurance and pensions sector strengthen society's resilience and close gaps was commented by:

Gabriel Bernardino to leave EIOPA in March, after two successive mandates
by Daniela GHETU, 2021-02-04
After two successful mandates as Chairman of the European Insurance and Occupational Pensions Authority (EIOPA), totalizing 10 years, Gabriel Bernardino will leave this position in March. Peter Braumuller, the current Vice-Chairperson of EIOPA will act as interim Chairman until a final appointment will be made.

First solution to use electronic clinical health data developed by Swiss Re and Diameter Health
by Alexandra GUZUN, 2021-02-03
Swiss Re and Diameter Health have developed the first-ever scalable solution to use electronic clinical health data for life insurance underwriting which will help life insurers to improve the speed and quality of their underwriting.

Insurance Europe commented on the IAIS consultation regarding the comparable outcomes to the ICS
by Alexandra GUZUN, 2021-02-01
Insurance Europe has published its response to a consultation by the International Association of Insurance Supervisors (IAIS) on its draft definition and high-level principles for comparable outcomes to the Insurance Capital Standard (ICS).

Bad news for consumers buying insurance-based products
by press.release, 2021-02-04
"It is deeply regretful that the EIOPA BoS has chosen to push forward with these flawed changes. While 75% of PRIIPs are insurance-based, the changes only seek to facilitate the application of the PRIIPs KID to Undertakings for Collective Investment in Transferable Securities (UCITS), and will make the PRIIPs KID significantly worse than it is now for consumers buying insurance-based products, William Vidonja, head of conduct of business at Insurance Europe", commented.

CROATIA: the two major earthquakes of 2020 have boosted demand for housing insurance with specific coverage
by Daniela GHETU, 2021-02-04
The two earthquakes experienced by Croatians last year, when many of them had to bear the losses of their pocket in the absence of an insurance policy, seem to have finally raised awareness of the need for earthquake protection, leading to a visible increase in demand for such policies.

Hannover Re grows premium on improved prices
by press.release, 2021-02-04
Hannover Re grows premium on improved prices in 1 January treaty renewals and confirms guidance for 2021

MABISZ President, Anett PANDURICS elected to the committee that will assess the candidacy of Budapest to hosting Olympics of 2032
by Daniela GHETU, 2021-02-01
Anett PANDURICS, President of MABISZ-the Association of Hungarian Insurance Companies and Chairwoman and CEO of Posta Biztosito, was elected to be part of the Budapest 2032 Committee, a body established by the Hungarian Olympic Committee to assess the possible candidacy of Budapest to organizing the Olympics of 2032.

POLAND: Telemedico digital health platform will be founded with EUR 5.5 million
by Alexandra GUZUN, 2021-02-03
Flashpoint Venture Capital, Uniqa Ventures, PKO VC, Black Pearls VC (an existing investor) and Adamed have funding Telemedico platform by EUR 5.5 million (approx. USD 6.6 million). The platform includes consultations with a doctor via chat, video or telephone; AI-triaging and coordination; and booking of in-person visits and blood testing.

SERBIA: Appointments in the top management positions at UNIQA Serbia
by Alexandra GUZUN, 2021-02-04
Starting with January 1, 2021, UNIQA Serbia has began the process of strategic transformation" UNIQA 3.0" by applying a new governance model which includes the harmonization of processes in 15 markets in Central and Eastern Europe.

Two main positive reasons of IDD since its implementation
by press.release, 2021-02-04
Europe has published its response to a questionnaire by EIOPA (European Insurance and Occupational Pensions Authority) on the application of the Insurance Distribution Directive (IDD).

Joint statement: strengthening sectoral social dialogue in the services industry plays an important role
by Alexandra GUZUN, 2021-02-01
The European social partners in the services sectors - of which Insurance Europe is a member - have today published a joint statement on strengthening sectoral social dialogue in the services industry.

Education map on financial institutions from EIOPA
by Alexandra GUZUN, 2021-02-03
EIOPA (European Insurance and Occupational Pensions Authority) developed an interactive way to share information on financial education through a map with websites and portals from each country.

New project of Fondazione Italiana Accenture in order to promote digitalization of the non-profit sector
by Alexandra GUZUN, 2021-02-01
The Human Safety Net and Fondazione Italiana Accenture have started a new project in order to accelerate the digitalization process of the non-profit sector in Italy by developing a portal "Bambini Patapum!".

Green light for ALLIANZ to set up the first wholly foreign-owned insurance asset management company in China
by Andrei Victor, 2021-02-01
ALLIANZ China Insurance Holdings has announced it has received approval from the China Banking and Insurance Regulatory Commission of the preparatory establishment of ALLIANZ Insurance Asset Management.

MMC FY2020 revenue increased to USD 17.2 billion
by Andrei Victor, 2021-02-03
The MARSH & McLENNAN Companies (MMC) reported Q4 2020 consolidated revenue of USD 4.4 billion, an increase of 4% compared with the fourth quarter of 2019, or 1% on an underlying basis. Operating income was USD 571 million compared with USD 592 million in the prior year period.

Ozdemir, Milli Re: January renewals will be marked by a rather high volatility and challenging marketplace
by Daniela GHETU, 2021-02-04
"We are well prepared to navigate our way through the reshaped market conditions while we focus on the needs of existing clients and explore opportunities to support new ones," Fikret Utku Ozdemir, General Manager, Milli Re has stated in a recent interview with Al Bayan Magazine.

KAZAKHSTAN: in 2020 non-life insurers received profit from insurance activities, while life insurers recorded a loss
by Marina MAGNAVAL, 2021-02-04
In 2020, according to the data collected from insurance companies, income of the insurance sector in Kazakhstan increased by 18.5% y-o-y to KZT 589 billion (~EUR 1.14 billion*). At the same time, investment income increased by 40% to KZT 128 billion, and income from insurance - by 12.8% to KZT 458.1 billion, writes Allinsurance.kz.

Продолжение

RUSSIA: SBERBANK Life Insurance and ROSGOSSTRAKH Life awarded at the InsurSelling-2021 conference
by Marina MAGNAVAL, 2021-02-04
At the InsurSelling-2021 conference, which took place on January 27, SBERBANK Life Insurance received an award "For taking life insurance products to online".

Продолжение

TURKMENISTAN: the list of works as subject for compulsory state personal insurance has been approved
by Marina MAGNAVAL, 2021-02-04
In Turkmenistan, a list of high-risk works and categories of workers employed in high-risk production conditions, subject to compulsory state personal insurance against industrial accidents and occupational diseases, has been approved, Turkmenportal said.

Продолжение

UKRAINE: Forte Life got a new owner
by Marina MAGNAVAL, 2021-02-04
Astrum Ukraine LLC that owned 99% of shares of the Kyiv based Forte Life insurance company has reduced them to zero.

Продолжение

UZBEKISTAN: KAFIL SUG`URTA has been assigned a new solvency rating on the national scale at uzA+
by Marina MAGNAVAL, 2021-02-04
KAFIL SUG'URTA has been assigned a new solvency rating on the national scale at "uzA+", which means an extremely high level of solvency for an insurance company, the insurer said.

Продолжение

?TOP EVENT

TOP EVENT: New names on the speakers roll at the Insurance in the DIGITAL World Conference
by XPRIMM, 2021-02-04
Makoto Okubo, General Manager, International Affairs - Nippon Life Insurance Company and Alin Nita, Entrepreneur and General Manager, FivePlus Solutions have joined the exquisite team of speakers lined up by the forthcoming Insurance in the DIGITAL World Conference (25 February, 14.00 EEST).

INTERVIEW

Oleg KHANIN, Chairman of the Board of the Insurance Company Kommesk-Omir JSC.
by Marina MAGNAVAL, 2021-02-04
The pandemic has prompted digitalization to become a key industry trend in the upcoming years. In addition, the new reality of 2020 has stimulated insurers to create new products in health insurance (coronavirus insurance, telemedicine, critical illness insurance), as well as insurance programs against business interruption, cyber risks, financial losses.

?MARKETS & TRENDS

Insurance is instrumental in the fight against cancer
By?Michael Haas , 2021-02-04
Head Client Management L&H ACEE, Swiss ReWorld Cancer Day is marked on 4 February. With COVID-19 dominating the headlines at present, there is a risk that the threat of cancer will fade into the background. The figures speak for themselves in terms of how urgent the issue truly is: The risk of developing cancer before the age of 75 year is 20%, i.e. one in 5 people worldwide develop cancer during their lifetime, and one in 10 people die from the disease.?

Продолжение

STATISTICS

STATISTICS: Montenegro 2020: GRAWE and LOVCEN accounted for the largest shares
by Andrei Victor, 2021-02-04
LOVCEN osiguranje - local non-life insurer owned by Slovene TRIGLAV, and GRAWE osiguranje - the Montenegrin life unit of Austrian insurance group GRAWE - are in terms of GWP, according to the year-end 2020 market statistics published by Insurance Supervision Agency of Montenegro the largest insurers in the Adriatic country.

STATISTICS: AZERBAIJAN, FY2020: almost 61% of all claims paid in life insurance
by Marina MAGNAVAL, 2021-02-04
Despite all the challenges of 2020, the insurance sector of Azerbaijan ended the year with an increase of almost 7% (in local currency), GWP amounted to AZN 728.63 million (EUR 348.80 million) at the end of December, as follows from the data published by the Central Bank of the country.

STATISTICS: KYRGYZSTAN, FY2020: the insurance sector ended the year without losses - premiums almost remained at the level of 2019 (in local currency)
by Marina MAGNAVAL, 2021-02-04
The insurance sector of Kyrgyzstan, after a decrease seen in the third quarter, ended 2020 without losses (in local currency) - GWP remained almost at the level of 2019 (+0.15% y-o-y), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.

ON THE MOVE

Jan van den Berg new Chairman of the Supervisory Board of ACHMEA
by Andrei Victor, 2021-02-01
Jan van den Berg will be appointed Chairman of the Supervisory Board of ACHMEA on 13 April 2021, the date of ACHMEA's General Meeting, as the Dutch insurance group announce in a statement.

AIG named ex U.S. Bank CCO as as Global Head of Media & External Communications
by Andrei Victor, 2021-02-01
AIG announced that Dana RIPLEY has joined the company as Vice President, Global Head of Media & External Communications. Based in New York, RIPLEY reports to Lucy FATO, Executive Vice President, General Counsel & Global Head of Communications and Government Affairs.

RUSSIA: Andrey LARKIN elected new general director of INGOSSTRAKH
by Marina MAGNAVAL, 2021-02-03
Andrey LARKIN was elected the new general director of INGOSSTRAKH by the decision of the board of directors, according to the company. He will also become the Chairman of the company's Management Board.

EVENTS

INSURETEK MIDDLE EAST 2021 INTERNATIONAL CONFERENCE & GOLDEN SHIELD EXCELLENCE AWARD
April 7, 2021
Dusit Thani Hotel, Dubai, United Arab Emirates
Organizer:?BIZ Events Management
Media Partner:?XPRIMM Publications
For details:?http://insuretek.org/

9th AIDA Europe Conference
Zurich, Switzerland
23-24 September 2021
Organizer:?AIDA
Media Partner:?XPRIMM Publications
For details:?aidainsurance.org

CURRENT XPRIMM REPORTS