TOP NEWS
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Romania: Gothaer Asigurari Reasigurari renamed into Allianz-Tiriac Unit Asigurari
by Andrei Victor, 2022-03-30
As of March 25, 2022, Romanian insurer Gothaer Asigurari Reasigurari changed its name to Allianz-Tiriac Unit Asigurari, informed www.1asig.ro. The change takes place in the conditions in which Gothaer Asigurari Reasigurari was taken over by Allianz-Tiriac Asigurari, the Romanian subsidiary of the German insurance group Allianz.
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BULGARIA: Konstantin VELEV, Chairman of ABZ: Life insurance is booming
by Marina MAGNAVAL, 2022-03-30
Life insurance is marked by a remarkable rise, the growth rate is ahead of the non-life insurance, which is a relatively rare situation for the Bulgarian market. As of October 2021, GWP in life insurance reached BGN 483 million (+34%) (~EUR 247 million), and paid claims increased by 23% to BGN 181 million, the Association said.
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HUNGARY: MNB: The Russian-Ukrainian conflict has no significant impact on the domestic sector
by Marina MAGNAVAL, 2022-03-31
The pandemic only temporary stopped premium income production of the Hungarian insurance market, the increase of more than 10% in 2021 raised the premium income in the sector above HUF 1,300 billion, (~EUR 3.52 billion) as noted Gergo SZENICZEY, prudential of the Hungarian National Bank (MNB), Executive Director for Consumer Protection and Market Surveillance at the 2022 Portfolio Insurance Conference.
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CROATIA: new members in the Croatian Insurance Bureau
by Marina MAGNAVAL, 2022-03-31
On March 23, the Croatian Insurance Bureau decided to accept the insurance companies Hrvatsko kreditno osiguranje dd and Wustenrot zivotno osiguranje dd as new members of the Bureau effective from April 1, 2022, osiguranje.hr informed.
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The war in Ukraine lowers German insurers' growth expectations for 2022
by Daniela GHETU, 2022-03-31
German insurers expect a 2.5% increase in the total GWP in 2022, GDV General Manager Joerg ASMUSSEN stated, pointing out the fulfilling of this expectation largely depends on the further developments in the Ukraine war. If the war escalates further, growth is likely to be weaker.
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Lloyd's reports return to profit and estimates major claims from Ukraine war
by Andrei Victor, 2022-03-29
Lloyd's of London announced a strong return to profitability in its FY 2021 results, with an overall profit of GBP 2.3 billion, vs. a loss of GBP 0.9 billion a year before, and a combined ratio of 93.5% (vs. 110.3% in 2020 or 97.0% excluding COVID-19) - the best quality result reported for six years.
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AZERBAIJAN: digitalization of three more types of compulsory insurance is planned
by Marina MAGNAVAL, 2022-03-28
In Azerbaijan it is planned to digitalize compulsory real estate insurance, compulsory civil liability insurance related to the use of the real estate, as well as compulsory personal accident insurance for passengers, Trend reports according to Rashad AHMADOV, executive director of the Azeri Compulsory Insurance Bureau.
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ON THE MOVE
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GrECo announces important changes in the Group's management for 2023
by Daniela GHETU, 2022-03-31
GrECo International Holding is reorganizing its Executive Board and Supervisory Board, with retiring Friedrich Neubrand, company founder and long-standing Chairman of the Supervisory Board being replaces by his son, Friedrich Neubrand jun. from mid-2023.
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Phil Curtis appointed Global Head of HR at AGCS
by Andrei Victor, 2022-03-29
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group, announces the appointment of Phil Curtis as new Global Head of Human Resources (HR) effective April 1, 2022. He succeeds Melanie GILLIG, who moves to Allianz SE as Program Lead Future Work.
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MARKETS & TRENDS
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STATISTICS
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STATISTICS: Czech insurance market expanded to EUR 7.2 bn, CNB year-end 2021 figures show
by Andrei Victor, 2022-03-30
The insurance market of Czech Republic totaled CZK 179.80 billion (EUR 7.22 billion) at the end of 2021, up by 6.92% y-o-y, according to the year-end figures published by the Czech National Bank (CNB).Claims paid by local insurers totaled CZK 101.91 billion (EUR 4.09 billion) up by 10.78 y-o-y, of which 61% related to non-life insurance, the remaining 39% being related to life insurance subclasses.For the life segment, the GWP value (including reinsurance) remained at the 2020 level (~CZK 51.70 billion), while the value of paid claims and indemnities - including the change in balance of technical provisions, totaled CZK 39.57 billion.
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STATISTICS: Slovak FY2021 insurers' business decreased to EUR 2.15 bn, NBS figures reveal
by Andrei Victor, 2022-03-30
At the end of December 2021, the Slovak insurance market totaled EUR 2.15 billion, 3.34% less y-o-y, according to the FY2021 statistics published by the National Bank of Slovakia (NBS).In GWP terms, the life insurance segment was down by 2.56% y-o-y to EUR 911.73 million, these types of policies generating 42.42% of the total insurance market, while the non-life classes accounted for EUR 1.23 billion (or 57.58% of total GWP), down by 3.92% y-o-y.Overall, the value of paid claims by local insurers decreased by 7.80% y-o-y to EUR 1.16 billion, of which EUR 627.48 million related to life indemnities, EUR 214.57 million - Motor TPL claims, EUR 188.89 million- MoD payments, EUR 84.21 million - payments on Fire and other damages to property policies.
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EVENTS
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1st Congress of Actuaires du Monde
Skopje Marriott Hotel, Macedonia
31 March - 1 April, 2022
Organizers:
Actuaires du Monde
Media Sponsor: XPRIMM
More details:
here
DIA - Next Level Insurance Innovation in the Age of Data
Location: Online
Starting date: 26 April 2022
Organizers: DIA & the University of St.Gallen's Institute of Insurance Economics
Media Partner: XPRIMM Publications
For details:
digitalinsuranceagenda.com
9th AIDA Europe Conference
Zurich, Switzerland
18-20 May 2022
Organizer: AIDA Europe
Media Partner: XPRIMM Publications
For details: aidainsurance.org
FIAR - THE INTERNATIONAL INSURANCE-REINSURANCE FORUM
23rd Edition
22 - 24 May 2022
Sheraton Hotel
Bucharest, Romania
MAA Webinars: Estimating claim liabilities in the North Macedonian market Organizers:
Macedonian Actuarial Association
Association Actuaires du Monde
Sessions:
24 March 2022, 14:00 CET until 17:30 CET
21 April 2022, 14:00 CET until 17:30 CET
11 May 2022, 14:00 CET until 17:30 CET
2 June 2022, 14:00 CET until 17:30 CET
22 June 2022, 14:00 CET until 17:30 CET
More details
here
DIA Amsterdam 2022
Taets Art & Event Park.
29-30 June, 2022
Organizers: Reggy de Feniks and Roger Peverelli
Media Partner: XPRIMM Publications
For details:
https://www.digitalinsuranceagenda.com
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