XPRIMM News No. 551, 03 June 2021

Insurance Newsletter No. 551, 03 June 2021

www.xprimm.com

TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES

TOP NEWS

EUROHOLD, Q1: revenues from insurance business up by 1% y-o-y; GWP up by 6.4%
by Daniela GHETU, 2021-05-31
In Q1 2021, EUROHOLD Bulgaria AD, the largest Bulgarian public holding and one of the leading independent financial and insurance groups in the CEE/SEE/CIS region, reported revenues of approximately BGN 421 million (EUR 225.2 million), close to the 1Q 2020 level, right before the pandemics.

118,5% solvency and new insurance products to be launched for Euroins Romania
by press.release, 2021-06-03
Euroins Romania Asigurare Reasigurare S.A announces the completion of the financial audit for 2020 and the first results of Q1 2021, which reflects the repositioning of the company, the appointment of a new general manager and the improvement of risk management.

Geneva Association: Insurers would have to collect premiums for 150 years to cover the global output loss in 2020
by Alexandra GUZUN, 2021-06-03
Insurance Europe has published its 2020-21 Annual Report and the topics covered include the lessons learned from the COVID-19 pandemic; the need to enhance climate change adaptation and close protection gaps; ways to ensure citizens have enough income in retirement; and how policymakers can support insurers in their role as Europe's largest long-term institutional investors.

AXA Greece was sold to Generali for EUR 167 million
by Alexandra GUZUN, 2021-06-03
AXA has completed the sale of its insurance operations in Greece and announced that it has completed the sale of its Life & Savings and Property & Casualty businesses in Greece to Generali, for a total cash consideration of EUR 167 million.

Generali opens its representative office for the European Union in Brussels
by Andrei Victor, 2021-06-01
Generali has opened a representative office in Brussels to study the activities of European Union institutions and strengthen EU public affairs activities. Specifically, the Group aims to best represent its business priorities while playing an increasingly active corporate citizenship role in order to contribute to sustainable recovery and the European Green Deal.

SCOR- Covea dispute takes new twist: AMF rejects the accusations against Denis Kessler
by Alexandra GUZUN, 2021-06-03
The complaint filed by Covea against Denis Kessler, Chairman and CEO of SCOR is not supported by the French Financial markets authority (AMF) which informed the French Financial prosecution office that the information it has gathered does not support the serious charges of market abuse.

Presentations given at Moscow 25th Anniversary Annual Reinsurance Conference now available online
by Daniela GHETU, 2021-05-31
The 25th Annual Reinsurance Conference was hold in Moscow on April 14-15 and has gathered together representatives of the re/insurance market. The presentations of the speakers are now available for those who want to review the discussions or have missed the event.

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Brokerslink expands in Balkans with addition of Advantis Insurance Broker in Bosnia and Herzegovina
by Daniela GHETU, 2021-06-02
Global broking business, Brokerslink, has further expanded its presence in the Balkan Peninsula with the addition of independent broker Advantis from Bosnia and Herzegovina to its global network.

Azerbaijani insurance sector is preparing for both opportunities and risks of digitalization
by Daniela GHETU, 2021-06-02
Digitalization of the business sector of Azerbaijan and the products of insurance companies will contribute to the expansion of the segment of insurance products against cyber-attacks in the near future, insurance expert Ali Bayramov told Trend news agency.

AZERBAIJAN: Positive dynamics in receipts to the state budget of Azerbaijan from compulsory state social insurance and insurance against unemployment remains
by Marina MAGNAVAL, 2021-06-03
In the first four months of 2021 premiums from compulsory state social insurance and insurance against unemployment kept positive dynamics in receipts to the state budget of Azerbaijan - 112.6% and 111.4% respectively, as Trend reports referring to the publication of the Minister of Economy of Azerbaijan Mikayil JABBAROV.

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RUSSIA: SBERBANK insurance insured the buildings and property of the State Kremlin Palace for RUB 8 billion
by Marina MAGNAVAL, 2021-06-03
SBERBANK insurance has insured the buildings and property of the State Kremlin Palace for a total amount of RUB 8 billion (~EUR 89.5 million*), the insurer said in its press-release.

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RUSSIA: the number of complaints on MTPL in 1Q2021 was the minimum for the entire period of the financial ombudsman's operation
by Marina MAGNAVAL, 2021-05-31
In the first quarter of 2021, the number of complaints on MTPL recorded by the financial ombudsman was minimal, which, among other things, was influenced by the stimulation of customer focus of insurers, who did not find it profitable to bring disputes to the financial ombudsman, ASN reported with reference to the financial ombudsman's press-release.

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UKRAINE: MTIBU: in the first quarter, the number of settled MTPL claims increased by 10% y-o-y, and the volume of paid clams - by 21%
by Marina MAGNAVAL, 2021-06-03
MTPL insurers of Ukraine in the first quarter of 2021 settled over 40 thousand insurance claims. The number of MTPL contracts concluded during this period reached 1.9 million units, which is 7.7% more y-o-y, according to the MTIBU's press release (Motor (Transport) Insurance Bureau of Ukraine).

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UKRAINE: MetLife paid claims in the first quarter grew by almost a third y-o-y
by Marina MAGNAVAL, 2021-05-31
In 1Q2021, paid claims of the largest life insurer MetLife amounted to UAH 62.2 million (EUR 1.90 million*), which is almost a third more y-o-y. The largest share in the structure of the company's paid claims fell on survivor life insurance payments (32% of the total), Forinsurer reports.

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STATISTICS

STATISTICS: CEE, FY2020: At the end of a tough year, the regional market has recorded better than expected results
by Daniela GHETU, 2021-06-03
The 17 insurance markets of the CEE region have ended the year 2020 with aggregated GWP of EUR 37.45 billion, less by 4.27% y-o-y. Yet, it is worth noting that five markets have recorded a positive dynamic in premiums terms.

STATISTICS: CIS, FY2020: the largest GWP decrease was recorded by the Ukrainian market, the smallest - by Azerbaijan (in EUR)
by Marina MAGNAVAL, 2021-06-03
In 2020, the regional insurance market of CIS declined (in European currency) by about 21% * y-o-y to EUR 20.69 billion, according to xprimm statistics.

STATISTICS: Bosnian insurers posted Q1 GWP of about EUR 100 million
by Andrei Victor, 2021-06-03
Bosnian insurers reported aggregate Q1 GWP of BAM 192 million (~EUR 98.2 million), according to the most recent market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.FBiH insurers have provided for almost 70.5% of the total GWP (EUR 69.3 million) vs. EUR 28.9 million - insurers domiciled in Srpska Republic.

STATISTICS: Cyprus insurance market ended 2020 with increasing GWP
by Andrei Victor, 2021-06-03
Last year, the insurance industry of Cyprus totaled EUR 917 million, up by almost 3% y-o-y, according to end-year preliminary market figures published on the IAC website - the local professional association.

STATISTICS: MOLDOVA, 1Q2021: the share of non-life insurance in the market portfolio exceeded 93%
by Marina MAGNAVAL, 2021-06-03
In the first three months of 2021, the insurance market in Moldova expanded by almost 15% y-o-y in local currency to MDL 389.65 million (EUR 18.44 million).

STATISTICS: UZBEKISTAN, 1Q2021: the market is recovering, growth exceeded 33% y-o-y (in UZS)
by Marina MAGNAVAL, 2021-06-03
In the first quarter of 2021, the insurance market of Uzbekistan grew by more than 33% y-o-y in local currency, to UZS 669.36 billion (EUR 54.44 million), according to the data published by the Ministry of Finance of the Republic.

ON THE MOVE

Andreas Brandstetter, President of Insurance Europe for the further 3 years; Sandro Panizza appointed as Vice President
by Alexandra GUZUN, 2021-06-03
Insurance Europe's general assembly has unanimously voted to extend the mandate of Andreas Brandstetter as president for a further three years. At the same time, the assembly elected Sandro Panizza, group chief insurance & investment officer at Generali Group, as vice president of Insurance Europe.

Guy Carpenter appoints David Arthur as Head Actuary for UK Non-Speciality division
by Alexandra GUZUN, 2021-06-03
Guy Carpenter & Company, LLC, announced the appointment of David Arthur as Head Actuary of its UK Non-Specialty business which encompasses Global Casualty, Accident & Health, UK Property and UK Motor, effective October 2021. He will report to Richard Rodriguez, Head of Analytics and Advisory, UK and Global Specialties, Guy Carpenter.

Olivier Gay will take over the management of SCOR Canada Reinsurance Company
by Alexandra GUZUN, 2021-06-03
SCOR has named Olivier Gay as Chief Executive Officer for SCOR Canada Reinsurance Company, succeeding Paul Christoff, effective June 11, 2021. He will continue to serve as Chief Underwriting Officer for SCOR Canada and will report to John Jenkins, CEO of Reinsurance Operations for the Americas.

Aviva names Adam Winslow as CEO of Aviva UK & Ireland General Insurance
by Andrei Victor, 2021-06-01
Aviva has appointed Adam Winslow as CEO, UK & Ireland General Insurance, with immediate effect. He replaces Colm Holmes who is leaving Aviva for an external opportunity.

Romania: Mihaela Stroia will be the new CEO of UNIQA Life Insurance
by Alexandra GUZUN, 2021-06-03
Starting with June 2021, Mihaela Stroia takes over the position of CEO - President of the UNIQA Life Insurance Directorate. The next period brings also a series of important changes, which support the transformation and development of the activity of the UNIQA Group at international level, but also locally.

Scott Sayce appointed Global Head of Cyber at AGCS
by Andrei Victor, 2021-06-02
Allianz Global Corporate & Specialty (AGCS) - the corporate insurance carrier of ALLIANZ Group - announced that Scott Sayce will join Allianz Global Corporate & Specialty (AGCS) as Global Head of Cyber, effective September 1, 2021.

Nick Studer succeeds Scott McDonald as President & CEO of Oliver Wyman Group
by Andrei Victor, 2021-06-02
Marsh McLennan (MMC) announced that Nick Studer has been appointed President and CEO of Oliver Wyman Group effective July 1, 2021. He will also become a Vice Chair of Marsh McLennan and join the company's Executive Committee.

STORY LAB

EVENTS

Insurance Conference - HOW LOW CAN WE GO?
5U5TA1NABL3 1N5URANC3 IN UNC3RTA1N WORLD
Location: Ljubljana, 14 June 2021 - Hybrid format
Organizer: Insurance Supervision Agency of Slovenia (AZN)
More details: https://www.a-zn.si/en/agency/events/how-low-can-we-go/
Media partner: XPRIMM

Transparency in Insurance Regulation and Supervisory Law
14 October 2021
For details: aidainsurance.org

WorldPensionSummit 2021
12-14 October 2021
Location: Louwman Museum, The Hague, The Netherlands & Virtual
Organizer: Pension & Investments
For details: pionline.com

Insurance and Human Rights
2 December 2021

For details: aidainsurance.org

AIDA Europe webinar 2021 Series

Media Partner: XPRIMM Publications

For details:

19.05.2021: AIDA Europe Webinar: Transparency in Insurance Contract Law

14.10.2021: AIDA Europe Webinar: Transparency in Insurance Regulation and Supervisory Law

2.12.2021: AIDA Europe Webinar: Insurance and Human Rights

9th AIDA Europe Conference
Zurich, Switzerland
18-20 May 2022
Organizer: AIDA Europe
Media Partner: XPRIMM Publications
For details: aidainsurance.org

CURRENT XPRIMM REPORTS