XPRIMM News No. 576, 16 December 2021

Insurance Newsletter No. 576, 16 December 2021

www.xprimm.com

TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES

TOP NEWS

BULGARIA: in 9M2021 the insurers' assets rose to EUR 5.06 billion
by Marina MAGNAVAL, 2021-12-15
For the first 9 months of 2021 the assets of Bulgarian insurers increased by 9.3% y-o-y to about BGN 9.9 billion (~EUR 5.06 billion*), SeeNews wrote according to the statement of the country's central bank said.

CROATIA: Croatia Osiguranje is a leader in non-life insurance, Wiener in life insurance
by Marina MAGNAVAL, 2021-12-15
GWP in Croatia grew by 11.87% at the end of November 2021 and amounted to HRK 10.74 billion (~EUR 1.43 billion*) osiguranje.hr wrote.

POLAND: Bancassurance in a strong uptrend
by Marina MAGNAVAL, 2021-12-15
According to data collected by the Polish Insurance Association (PIU), as at September 30, 2021, GWP through the banking channel reached PLN 5.21 billion, 26% more y-o-y (~EUR 1.12 billion*).

Poland and Greece: NN Group obtains EC competition clearance to acquire MetLife's businesses
by Andrei Victor, 2021-12-13
NN Group announces that it has obtained competition clearance from the European Commission to acquire MetLife's business activities in Poland and Greece. The intended acquisition was announced on 5 July 2021.

Romanian insurer Allianz-Tiriac is heading for a historic year in terms of sales and profitability
by Daniela GHETU, 2021-12-16
Allianz-Tiriac Insurance reported for 9M2021 GWP worth EUR 239 million, by over 19% up y-o-y. Sales grew significantly on all business lines, driven by the accelerated increase of the number of customers, the company stated in a press release. Operating profit for 9M 2021 stood at approx. EUR 22.6 million.

Swiss Re to sell elipsLife to Swiss Life International
by Andrei Victor, 2021-12-13
Global reinsurer Swiss Re announced that it has agreed to sell its life insurance subsidiary elipsLife to Swiss Life International and to enter into a long-term reinsurance partnership for elipsLife's in-force and new business.

GEORGIA: in 9M2021 net profit of the insurance sector decreased by 14% y-o-y
by Marina MAGNAVAL, 2021-12-14
As of September 30, 2021, profit of the Georgian insurance sector amounted to GEL 131.2 million (EUR 36 million*), net profit - GEL 31.9 million, which is 14% less y-o-y (as of 30.09.2020, net profit of the insurance sector was GEL 44.3 million), Business Georgia wrote according to the data of the Insurance Supervision Agency.

RUSSIA: for 9M, the share of MTPL paid claims averaged almost 65% of GWP, Motor Hull market grew by more than 20% y-o-y
by Marina MAGNAVAL, 2021-12-14
According to statistics from the Bank of Russia, MTPL GWP for January-September 2021 reached RUB 172 billion (~EUR 2 billion*), which is 5% or RUB 8.2 billion more y-o-y, while paid claims reached RUB 111.3 billion (+9%), ASN wrote. The number of MTPL contracts concluded for the period increased from 29.9 million to 30.8 million units.

RUSSIA: GWP received through intermediaries amounted to almost 74% of all market premiums for three quarters of the year
by Marina MAGNAVAL, 2021-12-14
From January to September 2021, GWP of insurers through intermediaries increased by 21%, to RUB 998.6 billion (EUR 11.76 billion*). At the same time, for 9 months of 2020, GWP through intermediaries accounted for 72.5% of all market premiums, and at the end of 9 months of 2021, this share increased to 73.6%, ASN wrote referring to the data of the Central Bank.

UZBEKISTAN: Malakut opens an office in Uzbekistan
by Marina MAGNAVAL, 2021-12-15
The international insurance broking group Malakut opened an office in Uzbekistan. This is Malakut's 9th office worldwide and its 4th on the territory of the former USSR.

ON THE MOVE

AGCS names YEE global TMT solution director
by Andrei Victor, 2021-12-13
Effective January 1, 2022, Jody YEE will be appointed Global Industry Solution Director for Technology, Media & Telecom (TMT) at Allianz Global Corporate & Specialty (AGCS).

AIG names Rose Marie GLAZER Chief Human Resources Officer
by Andrei Victor, 2021-12-13
American International Group announced that Rose Marie GLAZER, currently Senior Vice President, Deputy General Counsel and Corporate Secretary, has been promoted to Executive Vice President & Chief Human Resources Officer, effective January 1, 2022. Rose Marie GLAZER will report to Peter ZAFFINO, President & Chief Executive Officer, and will join AIG's Executive Leadership Team.

GC appoints Head of UK & Ireland Life as it continues global life expansion
by Andrei Victor, 2021-12-13
Guy Carpenter, reinsurance specialist part of Marsh McLennan, announced the appointment of Isaac Sanday as Head of UK & Ireland Life, effective January 2022.

MMC appoints Francis Bouchard Managing Director of Climate
by Andrei Victor, 2021-12-13
Global re/insurance broker Marsh McLennan announced that Francis BOUCHARD has joined the Marsh McLennan Advantage team as Managing Director of Climate.

MARKET&TRENDS

Uber independent drivers and couriers in Europe will get insurance protection from Allianz Partners starting 2022
by Daniela GHETU, 2021-12-16
Allianz Partners and Uber have announced a partnership in which Allianz Partners will provide protection and security for independent drivers and couriers who partner with Uber and Uber Eats in 23 European countries, effective January 1, 2022.

STATISTICS

STATISTICS: Serbian insurers posted 9.7% y-o-y increase in Q3 business
by Andrei Victor, 2021-12-16
Serbian insurance market expanded by 9.7% y-o-y during 3Q2021 to RSD 88.5 billion (~EUR 754 million), according to the quarterly figures published on the website of National Bank of Serbia (NBS).Non-life GWP rose 10.5% y-o-y to RSD 69.2 billion, whereas the life insurance segment earned premiums of RSD 19.3 billion, up by 6.8% y-o-y, as NBS announced.

STATISTICS: Romania, 9M2021: Top 10 insurers provided together for 88% of total GWP
by Andreea RADU, 2021-12-16
The Romanian insurance market is characterized by a medium to high degree of concentration. In 9M2021, approximately 88% of the total volume of GWP was carried out by 10 companies, according to the ASF - Financial Supervisory Authority report. See the rankings of the players as calculated by XPRIMM and what the changes were compared to the same period last year.

STATISTICS: RUSSIA, 3Q2021: the market grew by more than 19%, credit life insurance remains the key growth driver
by Marina MAGNAVAL, 2021-12-14
Total GWP for 9 months of 2021 amounted to RUB 1.356 trillion (~EUR 15.98 billion), which is RUB 220 billion or 19.4% more y-o-y, follows from data published by the Bank of Russia. Paid claims increased from RUB 464.7 billion to RUB 587.5 billion (+26.4%).

STATISTICS: UKRAINE, 3Q2021: the market expands by more than 15% y-o-y (in UAH)
by Marina MAGNAVAL, 2021-12-14
The insurance market in Ukraine at the end of the third quarter of 2021 recorded an increase of 15.48% y-o-y to UAH 38.07 billion (EUR 1.22 billion). At the same time, paid claims of insurers increased by almost 21% and reached UAH 13.42 billion, as the data published by the National Bank of Ukraine show.

EVENTS

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

CURRENT XPRIMM REPORTS