XPRIMM News No. 572, 18 November 2021

XPRIMM PROPERTY Insurance Report 2021 & 1H2021 for the CESEE and ex-USSR countries is live
by Daniela GHETU, 2021-11-18
XPRIMM readers are offered today the opportunity to find out, in detail, how the property insurance lines fared in 2020 and the first half of 2021 in the Central and Southeastern Europe and the ex-USSR countries with the latest issue of the XPRIMM PROPERTY Insurance Report 2021 & 1H2021.

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VIG, 3M2021: top results exceeding the pre-crisis figures of 2019
by Daniela GHETU, 2021-11-18
Vienna Insurance Group's results for 9M2021 have improved significantly y-o-y, exceeding the pre-crisis figures (2019). Net profit went up by approx. 54% and earnings per share increase to EUR 2.86. Premium volume increases 5.1% to EUR 8.4 billion. Combined ratio improves 0.9 percentage points to 95.2%.

CROATIA: Croatian Insurance Days, Ante ZIGMAN: We can expect a good year for insurance
by Marina MAGNAVAL, 2021-11-17
The largest regional conference on insurance - Croatian Insurance Days was held on November 4, 2021 in Zagreb, organized by the Croatian Insurance Bureau (HUO) and partners. The conference once again brought together leading people in the insurance industry from the national, regional and European levels who discussed latest developments and future challenges of the Croatian and European insurance markets, svijetosiguranja.eu wrote.

Eurohold will hold over 88% of CEZ Distribution and more than 69% of CEZ Electro
by Andrei Victor, 2021-11-15
The majority shareholder of CEZ Distribution Bulgaria AD and CEZ Electro Bulgaria AD - Eastern European Electric Company B.V. (EEEC), part of urohold Bulgaria AD, will increase its interests in the two companies to 88.2% and 69.3% of the capital, respectively, as a result of the public tender offers carried out and following the completion of the deals with the shareholders that have accepted the offers.

ESTONIA: in the first nine months EUR 7 million paid as fire indemnities under home insurance
by Marina MAGNAVAL, 2021-11-17
According to the statistics of the Association of Insurance Companies, 422 fires in the amount of EUR 7 million have been indemnified under home insurance in the first nine months of this year vs 414 fire indemnities worth EUR 9.4 million paid last year.

CITY Insurance bankruptcy case settlement prolonged
by Cristian SUCA, 2021-11-18
The Bucharest Court did not pronounce on Wednesday - 17th November 2021 -, regarding the initiation of bankruptcy proceedings in the case of the insurance-reinsurance company CITY Insurance SA, according to 1asig.ro. A solution to CITY's request to suspend the process until the solution of the appeal made against the ASF's decision to withdraw the authorization is expected, legal sources told 1asig.ro.

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Munich Re: natural catastrophe claims made their mark on the quarter, but the annual target remains within reach
by Marina MAGNAVAL, 2021-11-16
Munich Re posted a profit of EUR 366 million for Q3 and EUR 2,061 million for three quarters. High natural catastrophe claims made their mark on the quarter.

AXA Q3 revenues increased 7% y-o-y to EUR 76 bn strongly supported AXA XL price increases on renewals
by Andrei Victor, 2021-11-15
French insurer AXA has reported a 7% rise in revenue to EUR 76 billion for the first nine months of 2021, supported by growth on all operations.

Zurich: strong progress toward achieving its 2022 strategic and financial goals
by Marina MAGNAVAL, 2021-11-16
Zurich's GWP in Property & Casualty (P&C) for the first nine months increased 11%, adjusting for currency movements, acquisitions and disposals. Growth was supported by higher premium rates, driven by increases in commercial insurance across all regions.

Generali: third-quarter results are in line with the successful completion of the 'Generali 2021' strategic plan
by Andrei Victor, 2021-11-15
Italian insurer Generali announced for the first nine months of the year an increase in the operating profit and gross written premiums, "in line with the successful completion of the 'Generali 2021' strategic plan".

Insurance Europe launches Sustainability Hub
by Daniela GHETU, 2021-11-15
Insurance Europe has launched its Sustainability Hub, which outlines examples of the many ways in which (re)insurers contribute towards tackling climate change and facilitating the transition to sustainability.

Achmea uses reserves to limit increase in health insurance premiums
by Andrei Victor, 2021-11-15
Dutch insurer Achmea announced that it is contributing with about EUR 380 million from its reserves to limit the increase in the basic healthcare premiums for 2022.

RUSSIA: net profit of the Russian National Reinsurance Company (RNRC) for 9 months increased by almost 28% y-o-y
by Marina MAGNAVAL, 2021-11-16
From January to September 2021, net profit of the Russian National Reinsurance Company (RNRC) amounted to RUB 7.9 billion (EUR 93.70 million*), which is 27.7% more compared to the same period in 2020, writes ASN with reference to the reinsurer's published report.

RUSSIA: the number of complaints against insurers to the Central Bank increased by 20%, while the number of insurance complaints to the Financial Ombudsman decreased by 17%
by Marina MAGNAVAL, 2021-11-16
For 9 months of 2021, the number of complaints against insurers received by the Central Bank amounted to 28 thousand, which is 20.4% more y-o-y, ASN wrote with reference to the data of the Bank of Russia.

RUSSIA: after three quarters of the year, life insurance continues to grow - by almost 25% y-o-y
by Marina MAGNAVAL, 2021-11-16
The life insurance GWP from January to September 2021 continued to grow, having increased by 24.9% y-o-y, to RUB 399.7 billion (EUR 4.74 billion*), ASN informed with reference to the All-Russian Insurance Association (ARIA).

Renaissance Life and InDeFi SmartBank to unveil game-changing product to solve one of the problems facing the crypto industry
by Daniela GHETU, 2021-11-12
Russian Renaissance Life has signed a cooperation agreement with the founder of the decentralized financial project Independent Decentralized Finance SmartBank & Ecosystem, with the aim of providing for a solution to access problems users of the cryptocurrency often have.

UKRAINE: for 9 months of 2021, total GWP of ARX and ARX Life reached almost UAH 2.7 billion
by Marina MAGNAVAL, 2021-11-15
Insurance companies ARX and ARX Life summed up their results for 9 months of 2021 - GWP of ARX (one of the non-life leaders) amounted to UAH 2.5 billion (~EUR 81.10 million*), which is 30% more y-o-y. At the same time, the company's paid claims for the period exceeded UAH 942 million (+29%), according to Forinsurer.

TAJIKISTAN: reinsurance of insurance companies in Tajikistan for the first time entrusted to a domestic company
by Marina MAGNAVAL, 2021-11-15
In November, the National Bank of Tajikistan in Dushanbe hosted a presentation of reinsurance services with the participation of domestic insurance companies, IA Avesta reports.

STATISTICS: BiH insurers 9 months GWP increased 8.6% y-o-y to EUR 316 m
by Andrei Victor, 2021-11-16
Bosnian insurers reported aggregate Q3 GWP of BAM 618 million (~EUR 316 million) vs. BAM 569 million (EUR 291 million) a year before, according to the most recent market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.

STATISTICS: Czech Rep, Q3 2021: CAP members 9 months GWP rise 4.7% y-o-y
by Andrei Victor, 2021-11-15
According to the quarterly market figures published by CAP (Czech Insurance Association), at the end of September 2021, total GWP from the members of the association totaled CZK 110.84 billion (~EUR 4.35 billion).

STATISTICS: Lithuanian market posted Q3 GWP worth EUR 760 m, EUR 50 m more vs. 3Q2020
by Andrei Victor, 2021-11-16
The insurance market of Lithuania totaled EUR 760 million at end-September 2021, about EUR 50 million more (or by 7% y-o-y) vs. Q3 2020, according to the quarterly market figures published on the Central Bank's website.

STATISTICS: MOLDOVA, 3Q2021: the share of non-life insurance exceeded 95% of GWP
by Marina MAGNAVAL, 2021-11-17
In the third quarter of 2021, the Moldovan insurance market ended with y-o-y growth of more than 35% (MDL 1.43 billion/EUR 69.83 million) in local currency. At the same time, the growth in paid claims was very moderate - at the level of 6.53% (MDL 467.10 million), according to the data published by the National Financial Market Commission.

STATISTICS: UZBEKISTAN, 3Q2021: the market continues to grow rapidly with GWP increasing by almost 66% y-o-y (UZS)
by Marina MAGNAVAL, 2021-11-17
By the end of 3Q2021, the insurance sector of Uzbekistan continued its rapid growth trend, increasing GWP by almost 66% y-o-y to UZS 2,632.51 billion (EUR 211 million), according to the data published by the Ministry of Finance of the Republic.

Christian Mumenthaler, CEO of Swiss Re, appointed Chairman of The Geneva Association
by Daniela GHETU, 2021-11-18
The Geneva Association announced that Christian Mumenthaler, CEO of Swiss Re, was appointed the new Chairman of the organization at its 10 November Board meeting. Lee Yuan Siong, Chief Executive & President of AIA, was appointed Vice Chairman.

BELARUS: General Director of the Belarusian National Reinsurance Organization has been appointed
by Marina MAGNAVAL, 2021-11-15
In accordance with the Order of the Ministry of Finance, from November 4, 2021, Gennady TIMOSHEVICH has been appointed new General Director of the Republican Unitary Enterprise "Belarusian National Reinsurance Organization" (Belarus Re), the reinsurer said.
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Insurance and Human Rights
2 December 2021
For details:aidainsurance.org

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