TOP NEWS
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Hannover Re sells its stake in HDI Global Specialty to HDI Global
by Daniela GHETU, 2021-11-11
Hannover Re is selling its 49.8% stake in the joint venture HDI Global Specialty SE to the majority shareholder HDI Global SE effective 31 December 2021, thus underscoring its strategic positioning as a pure reinsurer also freeing up previously committed risk capital to be used for the company's core business growth.
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POLAND: S&P Global Ratings rated PZU at A-
by Marina MAGNAVAL, 2021-11-08
On November 3, S&P Global Ratings affirmed the rating of the PZU Group at A- with a stable outlook. According to the agency, the company maintained good financial results and a stable capital position, and the group's dominant market position, recognizable brand and diversified structure will allow for continued growth, both on local and foreign markets, Gazeta Ubezpieczeniowa reports.
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POLL: What do Romanians think about climate change, recycling, and home insurance?
by Cristian SUCA, 2021-11-11
Half of Romanians see climate change as a natural phenomenon, not a man-made one, according to a survey of more than 3,200 respondents conducted as part of the APPA (the Association for the Promotion of Insurance)'s "Home Insurance Month" campaign. According to the same survey, 1 in 2 are willing to reduce their electricity consumption and 4 in 10 are very willing to reduce their heating consumption to help fight climate change.
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GEORGIA: only 2% of GDP is spent on insurance
by Marina MAGNAVAL, 2021-11-08
Premiums paid by clients of insurance companies in Georgia amount to only 2% of GDP, which is about 4 times less than the world average. As Soso ARCHVADZE, an expert in statistics, noted, if Georgia on average lags behind the development level of the world economy by 10-15%, then its lag in the insurance segment is much higher, Business Georgia reports.
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Insurance Europe affirms its unequivocally support for COP26
by Daniela GHETU, 2021-11-09
Insurance Europe unequivocally supports the global momentum to combat climate change that is the focus of COP26, as well as the goals of the Paris Agreement, the European Green Deal and Europe's targets to reduce its greenhouse gas emissions by 55% by 2030 and achieve a net-zero economy by 2050.
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Aon on Climate Change: learning from the events of today to prepare for tomorrow
by Daniela GHETU, 2021-11-10
The increased influence of climate change suggests that, in
what regards floods, what is considered a 1-in-100-year event (1% chance of
occurring at a location in any given year) today may becoming a 1-in-75 or
1-in-50-year event in the future, Aon's recently released "Real-Time
Climate Change" report shows.
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ICEYE announces flood hazard analysis agreement with McKenzie Intelligence Services
by Daniela GHETU, 2021-11-11
ICEYE, a leader in monitoring with radar satellite imaging and provider of flood hazard data, announced an agreement with McKenzie Intelligence Services (MIS) providing flood hazard analysis throughout active flood events to support the company in its delivery of property loss numbers to the Lloyd's market via the MIS Global Events Observer (GEO) platform.
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Aon's Fireside Chat: 'The wave is coming' for climate action
by Daniela GHETU, 2021-11-11
Since consumers and businesses by default trust their insurer, the insurance industry could use its voice to promote decarbonization initiatives, beyond just offering insurance products, was one the highlights of the 'Managing an evolving climate' panel debate hosted by Aon plc as part of its Virtual Reinsurance Renewal Season fireside chats.
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MARKETS & TRENDS
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AM Best report: Europe's captive sector thrives amidst hardening market
by Daniela GHETU, 2021-11-11
Amid tougher renewal discussions in Europe, there has been an uptick in the use of existing captives, as owners increasingly seek optimal risk transfer solutions, AM Best's new Market Segment Report found out.The report looks at the background to this development. It notes that price increases in the (re)insurance market began to appear as early as 2018 in some segments. The market has continued to harden since, with commercial insurers and reinsurers commonly reporting rate-on-rate increases, and a tightening of terms and conditions.
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TOP EVENT
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STATISTICS
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ON THE MOVE
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LATVIA: The management of the Latvian Insurers' Association Council re-elected
by Marina MAGNAVAL, 2021-11-08
On November 4, 2021, a meeting of members of the Latvian Insurers' Association (LAA) was held, at which two members of the association's management were re-elected for a two-year term, as well as the association's work plan and budget for 2022 were approved, as LAA announced on its website.
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EVENTS
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CURRENT XPRIMM REPORTS
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