Re/insurance loss from the Ukrainian war may exceed USD 20 billion, PCS says

Insurance Newsletter No. 591, 21 April 2022

www.xprimm.com

TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES

TOP EVENT

12th International Conference of Insurance Europe will take place on 2 June, in Prague
by Daniela GHETU, 2022-04-21
Insurance Europe, the European insurance and reinsurance federation, will hold its 12th International Conference at the Zofin Palace in Prague, on 2 June. XPRIMM is supporting the conference as Media Partner.

Between current challenges and technology supported opportunities, the future of motor insurance discussed at the Motor Insurance Conference, 23 May
by Daniela GHETU, 2022-04-21
The agenda of the Motor Insurance Conference hosted by the 23rd edition of FIAR - the International Insurance Reinsurance Forum on 23 May is now up, displaying a rich content and top-level speakers. The Romanian Motor Insurers Bureau - BAAR and the Croatian based AMODO, one of the top 5 Insurtech companies globally according to Financial Times are Official Partners of the conference.

STAND BY UKRAINE

PCS: re/insurance loss from the Ukrainian war may exceed USD 20 billion
by Daniela GHETU, 2022-04-21
The ultimate insurance and reinsurance industry loss from the ongoing conflict in Ukraine could rise above USD 20 billion, Artemis reported quoted an analysis from PCS, a Verisk company.

TOP NEWS

Vienna Insurance Group confirms top results for 2021
by Andrei Victor, 2022-04-18
On 14 April 2022, the Vienna Insurance Group (VIG) publishes its reports for the 2021 financial year, confirming the preliminary figures communicated on 8 March 2022.

Partnership agreement between kasko2go and Amodo provides motor insurers with new opportunities
by Daniela GHETU, 2022-04-20
The innovative data science company kasko2go is joining forces with Amodo, an award-winning Insurtech company, their combined solutions offering insurers unique and ground-breaking technology by integrating kasko2go's risk assessment solutions into Amodo's existing offerings.

EigenRisk® adds ICEYE's flood insights to its global catastrophe risk management platform
by Daniela GHETU, 2022-04-20
ICEYE, SAR data provider and expert in environmental flood hazard data, and EigenRisk®, the independent insurance technology platform provider, have announced a new agreement to incorporate ICEYE's unique flood insights for large-scale flood events into the EigenPrism® catastrophe risk management platform.

Poland: bancassurance distribution's premiums volume increased by 22.9% y-o-y in 2021
by Daniela GHETU, 2022-04-21
Gross written premium in the bancassurance channel amounted to PLN 6.83 billion (EUR 1.32 billion), up by 22.9% y-o-y, reported the Polish Chamber of Insurance in its latest quarterly report on bancassurance.

ARMENIA: MTPL loss ratio in the first quarter approached the level of 2017
by Marina MAGNAVAL, 2022-04-19
For the first quarter of 2022, the number of vehicles with MTPL policy in Armenia increased by 10.4% y-o-y (vs a decline of 6.5% a year earlier and an increase of 3.6% in 2019). This growth is higher than the level of the corresponding pre-Covid period, thus allowed MTPL GWP to exceed the trend of two years ago, ArmInfo reports.

AZERBAIJAN: mandatory state social insurance increased by 17% from January to March
by Marina MAGNAVAL, 2022-04-19
For the period from January to March 2022, premiums on mandatory state social insurance in Azerbaijan amounted to AZN 1.47 billion (EUR 0.78 billion), which means an increase of 17% y-o-y, Trend reports.

GEORGIA: insurers' capital increased significantly in 2021, while profits decreased
by Marina MAGNAVAL, 2022-04-20
In 2021, GWP of Georgian insurers increased by 16% to GEL 772 million (~EUR 220 million), but the profit practically did not grow, as the Head of the Insurance Supervision Service David ONOPRISHLVILI noted, Business Georgia wrote.

STATISTICS

STATISTICS: Slovenian insurance market posted slight y-o-y increase in GWP to EUR 2.6 bn
by Andrei Victor, 2022-04-21
The Slovenian insurance market totaled EUR 2.60 billion at the end of 2021, a 1.5% increase y-o-y, according to the Slovenian Insurance Association's year-end figures. Life insurance GWP posted a negative rate of -1.2% y-o-y to EUR 740 million, while the general insurance segment increased by 2.7% y-o-y to EUR 1.87 billion - or 71.63% of total GWP.

STATISTICS: BELARUS, FY2021: the market expanded by more than 14% y-o-y (in local currency)
by Marina MAGNAVAL, 2022-04-19
In 2021, total GWP of insurers amounted to BYN 1,726.57 million (EUR 598.96 million), which is 14.33% more y-o-y in local currency, according to the data published by the Ministry of Finance of the Republic. It should be noted that due to a significant change in the exchange rate of the Belarusian ruble against euro compared to December 2020, the market result in euro looks more impressive (+25.65%).

ON THE MOVE

Generali Group CEO Philippe Donnet joins the Insurance Development Forum steering committee
by Daniela GHETU, 2022-04-21
Generali Group CEO Philippe DONNET has joined the Insurance Development Forum's Steering Committee, the body led by industry leaders, UN agency leaders and international institutions that is accountable for the overall strategy and direction of the IDF.

INTERVIEW

Marina SHIPOVALOVA, General Director, InterConsult Info
by Marina MAGNAVAL, 2022-04-19
In general, compared to the pandemic year of 2020, when total GWP increased by only 12%, the past year 2021 had quite good dynamics

Dinara TEZEKBAEVA, Chairman of the Board, INGOSSTRAKH, Kyrgyzstan
by Daniela GHETU, 2022-04-20
Closed Insurance Joint Stock Company "Ingosstrakh" was founded in 1996. For 20 years, Ingosstrakh has been providing quality insurance services and is the leading company in the Kyrgyz Republic. Dinara TEZEKBAEVA, Chairman of the Board, answered some questions about the results of the company's work last year.

EVENTS

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

Croatian Insurance Days
Opatija, Croatia
4-6 May, 2022
Organizer: Croatian Insurance Bureau
Media Partner: XPRIMM Publications
For details: dani-osiguranja.huo.hr

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

12th International Conference Insurance Europe
Prague, Czech Republic 2 June 2022,

Media Partner: XPRIMM Publications

For details: insuranceeurope.eu

MAA Webinars: Estimating claim liabilities in the North Macedonian market Organizers:

Macedonian Actuarial Association
Association Actuaires du Monde
Sessions:
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

CURRENT XPRIMM REPORTS

XPRIMM News No. 591, 21 April 2022

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