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XPRIMM News No. 555, 1 July 2021

Insurance Newsletter No. 555, 1 July 2021
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TOP NEWS

Insured losses in Czechia from the devastating tornado a week ago expected to reach approx. EUR 140.5 million
by Daniela GHETU, 2021-06-30
Insurance companies in the Czech Republic estimate the damage caused by a devastating tornado last Thursday at CZK 3.6 billion (approx. EUR 140.5 million), announced Radio Prague International today.

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Generali Ceska pojistovna to merge with Generali Slovakia
by Andrei Victor, 2021-06-29
Generali CEE Holding announced the merger of its Czech and Slovak units: Generali Ceska pojistovna and Generali Slovakia. Generali in Slovakia will operate as a branch of Generali Ceska pojistovna, under the name Generali Poistovna, a branch of an insurance company from another Member State.

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NN Group is eyeing MetLife's Greek and Polish subsidiaries
by Daniela GHETU, 2021-06-30
Dutch NN Group NV offered to acquire part of MetLife Inc.'s businesses in Europe, saying the move is in line with its strategy to consolidate leading positions in attractive growth markets, Bloomberg reports.

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Eurohold to sell the dealer of Dacia-Renault-Nissan auto brands in Bulgaria
by Andrei Victor, 2021-06-29
Avto Union AD, part of Bulgarian Eurohold, signed a preliminary contract for the sale of its subsidiary N Auto Sofia EAD to Bulpharma OOD, a leading investor in healthcare services.

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Kosovo's Central Bank decides on the temporary reduction of border motor liability insurance
by Daniela GHETU, 2021-06-30
The Executive Board of the Central Bank of the Republic of Kosovo on the meeting held on June 24, 2021 has decided to temporarily reduce the border motor liability insurance.

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Estonia: The number of traffic accidents, back to the pre-COVID crisis
by Andrei Victor, 2021-06-30
According data provided by LKF (Estonian Traffic Insurance Fund), the number of traffic accidents related to MTPL policies issued by Estonian insurers was 2,570 in May 2021, about 30% more as compared with May 2020.

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From July 1, driving between Kosovo and Montenegro will no longer require border insurance
by Daniela GHETU, 2021-06-30
Kosovo and Montenegro have signed an agreement on the abolition of border security between the two countries, announced Tirana Post. Thus, starting 1 July, for cross border traveling by car there will be no need to acquire border insurance.

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Hungary: Aegon paid about EUR 2 m due to COVID-19
by Andrei Victor, 2021-06-30
Hungarian unit of Aegon announced it has paid more than HUF 700 million (~EUR 2 million) for life and accidents coverages since the beginning of the Coronavirus pandemic, wrote portfolio.hu here.

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Generali updates its strategy for climate protection
by Daniela GHETU, 2021-06-30
Italian Generali Group announced its new strategy on climate change which updates and extends the Group's existing plan approved in February 2018, pledges significant action related to investment and underwriting activities, the Group's core businesses, committing to a low climate impact future.

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Digital solutions are better with the support of the insurers in data availability
by Alexandra GUZUN, 2021-06-30
Insurance Europe has published their positive response for the overall objective of the European Commission to create a single market for data, where data from public bodies, businesses and citizens can be used safely and fairly for the common good.

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In Cubis Ltd. announces a new generation of insurance information system
by press.release, 2021-06-30
In order to enable the most proactive market presence of insurance companies, the InCubis 2.0 platform - a new generation of InCubis solutions - is being intensively prepared. After 15 years of Megaline development and 14 years of InCubis 1.0 development, it is time to announce a new insurance information platform.

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Generali has placed a EUR 500 million tier 2 bond due in June 2032
by Alexandra GUZUN, 2021-06-30
Generali has closed its first sustainability bond in accordance with its Sustainability Bond Framework. The company has placed the new Euro denominated Tier 2 bond due in June 2032. This new format confirms Generali's leading position on sustainability matters.

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ARMENIA: from the beginning of 2020 to May 31, 2021, payments of the Military Insurance Fund amounted to AMD 38.5 billion
by Marina MAGNAVAL, 2021-06-30
From the beginning of 2020 to May 31, 2021, payments of the Military Insurance Fund totaled to AMD 38.5 billion (~EUR 60.46 million*), ArmInfo reports with reference to the Fund's official statement.

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GEORGIA: The Government is considering introduction of a mandatory unemployment insurance mechanism
by Marina MAGNAVAL, 2021-06-30
The Government of Georgia is considering introduction of a mandatory unemployment insurance mechanism in the country, under the new Social Code, which has been officially announced recently, Trend reports with reference to Georgian media.

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KAZAKHSTAN: S&P assesses industry and country risk for Kazakhstani life and Property/Casualty insurance as moderately high
by Marina MAGNAVAL, 2021-06-30
S&P Global Ratings assessed insurance industry and country risk as moderately high for the life insurance sector in Kazakhstan (BBB-/Stable/A-3), which is comparable to life sectors in China, Colombia, Portugal, Poland, and South Africa.

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MOLDOVA: in the first three years since introduction of the strategy for the non-bank financial market development, about 80% of measures implemented
by Marina MAGNAVAL, 2021-06-30
In the first three years since introduction of the strategy for the development of the non-banking financial market for 2018-2022, about 80% of the measures included in the Action Plan have been implemented, stated CNPT representatives for xprimm.md.

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RUSSIA: from July 1, the first stage of increasing solvency requirements to begin for 70% of companies
by Marina MAGNAVAL, 2021-06-30
The first stage of increasing the solvency requirements for companies will start on July 1 and the Bank of Russia is satisfied with how the insurance market is approaching this, said Philip GABUNIYA, director of the insurance market department of the Bank of Russia, on June 29, "Strakhovanie segodnya" reports.

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STATISTICS

STATISTICS: Polish insurers' GWP expanded by more than 5% y-o-y in Q1 2021
by Andrei Victor, 2021-06-30
The largest CEE insurance market posted aggregate GWP of PLN 17.6 billion (EUR 3.8 billion) at the end of March 2021, 5.33% more y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority). At the same time, claims and benefits paid by local insurers decreased by ~3% y-o-y to PLN 10.2 billion or EUR 2.2 billion.

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STATISTICS: UKRAINE, 1Q2021: voluntary insurance saw practically no growth, while mandatory lines grew by almost 12% y-o-y
by Marina MAGNAVAL, 2021-06-30
At the end of 1Q2021, the Ukrainian insurance market grew by 4.26% y-o-y (in local currency) and amounted to UAH 12.04 billion (EUR 367.95 million), according to the data published by the National Bank of Ukraine.

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ON THE MOVE

Bulgaria: Armeec CEO was re-elected as head of ABZ
by Andrei Victor, 2021-06-30
Konstantin Velev, the CEO of Bulgarian non-life insurer Armeec, was re-elected as Chairman of the Management Board of the Association of Bulgarian Insurers (ABZ), according to a press release publish on insurer's website: "His election was made unanimously during the general meeting of the members of the association, which approved the program of the association for next year".

SCOR shareholders renewed the director mandates of Denis Kessler, Bruno Pfister and Claude Tendil; the team of directors also received new members
by Daniela GHETU, 2021-06-30
SCOR's shareholders were presented today the Group's new governance proposed by its Board of Directors, consisting of a separation of the roles of Chairman of the Board and Chief Executive Officer with effect from today.


VIG



ERGO


EVENTS

Wanderlust series | GERMANY POLITICIZING OF INVESTING?

July 6, 14.00 CEST
Organizer: Pensions & Inventionts
Media Partner: XPRIMM Publications


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:

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