XPRIMM News No. 545, 22 April 2021

VIDEO: CONFERENCE PROPERTY INSURANCE - in a connected world
by Alexandra GUZUN, 2021-04-22
The COVID-19 crisis made and continues to make the headlines since the beginning of 2020. Yet, as the worst pandemic ever is expected to lose its intensity in the months to come, there are pre-existing grave topics on the agenda that are far from losing ground and are equally far from finding an all-encompassing solution.

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VIDEO: MOTOR INSURANCE CONFERENCE- "A glimpse in the future of motor insurance"
by Alexandra GUZUN, 2021-04-20
MOTOR INSURANCE CONFERENCE- "A glimpse in the future of motor insurance" has started on the XPRIMM YouTube Channel and will address several issues related to the technical revolution in course, its benefits, challenges and dilemmas.

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VIG demonstrated strong capitalization with a solvency ratio of 238% and an increased premium volume of EUR 10.4 billion
by Alexandra GUZUN, 2021-04-16
With an increased premium volume of EUR 10.43 billion, profit before taxes of EUR 346 million and a further improved combined ratio of 95%, VIG Group has achieved solid results for 2020. The preliminary figures for the 2020 financial year and the outlook for 2021 are confirmed by the VIG reports.

AON: ARA's 2020 GWP increased by 6% y-o-y to USD 294 billion
by Andrei Victor, 2021-04-22
Despite the combined effects of around USD 25 billion of pandemic and natural catastrophe related losses and a compromised investment return, Aon's Reinsurance Aggregate (ARA) of reinsurers was able to report positive earnings for the year and an increased capital base, aided by demonstrated access to new funding.

Swiss Re: Financial Condition Report issued for legal entities domiciled in Switzerland
by Alexandra GUZUN, 2021-04-22
Swiss Re has published the 2020 Financial Condition Report for the Swiss Re Group and regulated re/insurance legal entities domiciled in Switzerland for the reporting period ended 31 December 2020.

Swiss Re shareholders elected Ermotti as Chairman of the BoD and awarded Kielholz with the title of Honorary Chairman
by Andrei Victor, 2021-04-19
Swiss Re's shareholders approved all proposals put forward by the Board of Directors at the Annual General Meeting (AGM) in Zurich. This included the distribution of an ordinary dividend of CHF 5.90 per share as well as the election of Sergio Ermotti as new Chairman of the Board of Directors.

Major economies could lose roughly 10% of GDP in 30 years reveals Swiss Re Institute's stress-test analysis
by Alexandra GUZUN, 2021-04-22
Swiss Re Institute has issued the Climate Economics Index a stress-tests analysis on how climate risks will impact 48 countries representing 90% of the world economy and ranks their overall climate resilience. It shows all countries will be affected, but some are more vulnerable than others.

KPI for insurers' investment activities should be based on a ratio of assets
by Alexandra GUZUN, 2021-04-22
Insurance Europe agrees with the European Insurance and Occupational Pensions Authority (EIOPA) that for insurers' key performance indicators the alignment with taxonomy-aligned activities should be assessed based on non-life gross premiums and the assessment of funding taxonomy-aligned economic activities should be based on the investments.

Munich Re reported Q1 result of around EUR 600 million
by Andrei Victor, 2021-04-21
German reinsurer Munich Re announced preliminary net profit of roughly EUR 600 million for the Q1 2021, which is up on the consensus of EUR 466 million and also the EUR 221 million reported in the same period in 2020.

SCOR reported 4.3% overall increase in pricing at April 1 reinsurance renewals
by Andrei Victor, 2021-04-19
On the 1st of April 2021, French reinsurer SCOR informed that it grew its gross premiums up for renewal by 14.3% to EUR 600 million, with a 4.3% overall increase in pricing.

A quarter of Czechs keep savings in a current account or in cash
by Andrei Victor, 2021-04-19
A quarter of Czechs still lose part of their savings to inflation. They consider cash or a current account to be the most suitable way to save money, according to a survey by Generali Investments CEE related to the Lion`s Share project.

Fruit growers in Croatia hit by a wave of low temperatures and frost; insurance coverage is limited
by Daniela GHETU, 2021-04-22
After a warm March, low temperatures and frost have recently hit Central and Western Europe, some countries experiencing the coldest months of April ever observed, with temperatures well below freezing. Winegrowers and fruit growers in Croatia, France, Italy and parts of Germany said their hopes for good crops were ruined.

Dunav osiguranje designated the consumer's favorite insurance brand in Serbia
by Daniela GHETU, 2021-04-22
Serbian "Dunav osiguranje" is the winner of this year's award "Consumer's favorite" in the insurance category, designating the most popular brands on the Serbian market. Organized by the association "My Serbia" and with the support of the City of Belgrade, the contest awards the best brands based on the consumers' votes.

NBG shareholders approved the sale of Ethniki
by Andrei Victor, 2021-04-22
Th National Bank of Greece, the shareholder of Ethniki Asfalistiki - the largest and the oldest insurer in the country - announced that on Extraordinary General Meeting of its Shareholders held on April 21st 2021 remotely in real-time via teleconference it was approved the sale of 90.01% in the company to CVC.

Achmea's AGM adopts financial statements, approves dividend and announces the new BoD
by Andrei Victor, 2021-04-21
Dutch insurer Achmea informed its Annual General Meeting (AGM) adopted the 2020 financial statements and also approved a proposal to distribute a dividend of EUR 19.6 million on the preference shares and EUR 149.7 million on the ordinary shares. In addition, the AGM addressed the previously announced appointments of Bianca Tetteroo and Jan van den Berg.

Adris grupa's 2020 revenues hit by the pandemic, economic crisis and the two devastating EQ
by Andrei Victor, 2021-04-21
The Supervisory Board of Adris grupa - the CROATIA's osiguranje owner - approved the Group's audited non-consolidated and consolidated annual financial report for 2020 and the proposal for a decision on the allocation of profits from 2020.

ARMENIA: the share of e-MTPL in 1Q2021 increased to 19%
by Marina MAGNAVAL, 2021-04-21
In the first quarter of 2021, sales of e-MTPL policies in Armenia increased and their share in the total number of MTPL contracts at the end of the quarter reached 19% (vs 11% a year ago), according to

ARMENIA: the volume of tax payments of the insurance sector in 1Q2021 decreased by 7.7% y-o-y
by Marina MAGNAVAL, 2021-04-21
According to 1Q2021 results, 5 out of 6 operating insurance companies were included in the list of 1000 large taxpayers in Armenia, same as a year ago.

RUSSIA: Expert RA: in 2021, market growth may range from 3% to 9%
by Marina MAGNAVAL, 2021-04-21
Development of the insurance market in 2021 may have different scenarios - according to the baseline scenario, total growth will be about 8-9%, while according to the conservative scenario, the market may grow by 3-4%, explained Alexey YANIN, Managing Director of the Insurance and Investment Ratings Department of the Expert RA agency at the 25th Reinsurance Conference.

RUSSIA: paid claims of SBERBANK Life Insurance on credit insurance in January-March increased by 38% compared to the first quarter of 2020
by Marina MAGNAVAL, 2021-04-21
Paid claims of SBERBANK Life Insurance on credit insurance in January-March 2021 reached to RUB 2.5 billion (~EUR 28.17 million*). Compared to the first quarter of 2020, the number of paid claims increased by a third, and their volume - by 38%, according to the insurer's press release.

RUSSIA: Moscow saw the 25th Anniversary Annual Reinsurance Conference on April 14-15, 2021
by Marina MAGNAVAL, 2021-04-21
INGOSSTRAKH took part as a General Partner and GIC Reinsurance as a Partner of the 25th Anniversary Annual Reinsurance Conference hold on April 14-15 in Moscow.

RUSSIA: Reinsurance in 2020, despite the pandemic, increased in both the inward and outward segments
by Marina MAGNAVAL, 2021-04-19
In 2020, the inward reinsurance market increased by 14.4%. According to the RNRC (Russian National Reinsurance Company), after a sharp increase in 1Q2020, the market continued the trend of a gradual decline in growth rates throughout the year until 4Q2020.

UZBEKISTAN: one of the largest losses in the history of the Uzbek insurance market settled by Uzbekinvest National Export-Import Insurance Company and Malakut Insurance Brokers
by Marina MAGNAVAL, 2021-04-21
Uzbekinvest National Export-Import Insurance Company and Malakut Insurance Brokers settled a USD 2.9 million fire loss at a cotton pulp mill in Tashkent region of Uzbekistan, according to Malakut.

Governments need to get involved as "insurers of last resort" and evaluate insurers` potential
by Alexandra GUZUN, 2021-04-22
The second report in The Geneva Association's research series on pandemics and insurance explores four exemplary and generic types of public-private pandemic risk solutions - direct insurance, reinsurance, social insurance and post-event protection - and compares the benefits of each against seven public policy objectives.

STORY LAB with Karel van HULLE (2): 9 lessons learnt in a lifelong career in reforming financial markets
by Daniela GHETU, 2021-04-22
I have been very fortunate that I had the opportunity during my professional career to be closely associated with many important reforms which - I can say - have had important consequences for society, Karel van HULLE, KU Leuven and Goethe University Frankfurt told the STORY LAB show's viewers.

STATISTICS: Slovak Rep., 2020 Insurers' business decreased almost 5% y-o-y
by Andrei Victor, 2021-04-22
Last year, the Slovak insurance market totaled EUR 2.17 billion, 4.75% less y-o-y, according to the end-year statistics published by the National Bank of Slovakia (NBS).

Anthony CORDONNIER and Erica DAVIS appointed as Global Co-Heads of Cyber at Guy Carpenter
by Alexandra GUZUN, 2021-04-21
Guy Carpenter continues to investment in its cyber platform and has made new appointments within the Cyber team. They named Anthony CORDONNIER as Managing Director and Global Co-Head of Cyber, and promoted Erica DAVIS to Global Co-Head of Cyber. Other appointments were also made.

Christophe GAUDRON and Michel DEN BOER are named at Guy Carpenter on European Area
by Alexandra GUZUN, 2021-04-22
Guy Carpenter & Company announced the appointments of Christophe GAUDRON as CEO, Guy Carpenter France, effective January 01, 2022, and Michel DEN BOER as Managing Director, Treaty Broking, Guy Carpenter Benelux, with immediate effect.

Aegon's Global CTO to steps down
by Andrei Victor, 2021-04-21
Aegon announced that Global Chief Technology Officer Mark Bloom is stepping down, effective June 1, 2021: "Having led Aegon's technology and innovation activities for more than five years, he has decided to leave the company to pursue other opportunities".

AGCS announced leadership appointment
by Andrei Victor, 2021-04-19
Allianz Global Corporate & Specialty (AGCS) announced that David Brown, currently its Head of Insurance Linked Markets will take over as head of its Capital Solutions unit from July 1, 2021, subject to local regulatory approval.

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• TURKEY FY2019/1H2020
• Motor Ins. Report FY2019/1H2020
• Property Ins. Report FY2019/1H2020