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XPRIMM News No. 598, 09 June 2022

Insurance Newsletter No. 598, 09 June 2022
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TOP NEWS

The Geneva Association: Sustainability is the dominant priority for insurance companies and their customers today
by Daniela GHETU, 2022-06-09
Reunited under the titles Building Bridges to a More Sustainable Future, 57 global insurance CEOs gathered at the Geneva Association's 49th General Assembly on 2-3 June in Venice, Italy, to align on how global challenges are impacting the insurance industry and how insurers can best support society in navigating these crises.

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Insurance Europe: EC Retail Investment Strategy must account for existing rules, be thoroughly tested and demonstrate proven benefits for consumers
by Daniela GHETU, 2022-06-09
To ensure the success of the new Retail Investment Strategy (RIS), the European Commission should only make changes that address a clearly identified need, at the same time acknowledging the qualities of the already existing legislation, Insurance Europe responded to the EC's call for evidence.

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Poland: lower incidence of motor insurance claims in the 1st quarter of 2022
by Daniela GHETU, 2022-06-09
In the first quarter of 2022, insurers paid a total of PLN 3.54 billion (approx.: EUR 0.77 billion) in claims from motor policies. Out the total, paid claims for MTPL insurance accounted for 57.6%, the Polish Chamber of Insurance said quoting data from the Information Centre of the Insurance Guarantee Fund.

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Allianz to sell majority stake in Russian operations to Interholding
by Andrei Victor, 2022-06-06
The Allianz Group has agreed to sell a majority stake in its Russian operations to Interholding, the owner of Russian P/C insurer Zetta Insurance. Upon the completion of the transaction, Allianz will hold a minority stake of 49.9% in the combined company.

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UKRAINE: insurance market's results for 2021 published by the National Bank
by Marina MAGNAVAL, 2022-06-09
The National Bank of Ukraine (NBU) published a report on the non-banking sector for 2021, comprising 4Q2021 data on the insurance sector. The report is based exclusively on those insurers that submitted reports to the NBU as of May 16, 2022 (90% of non-life insurers and all life insurers).

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YAS MicroInsurance and Amodo Join Forces to Enable Autonomous Insurance On-Chain, Pioneering the New Era of Insurance in Smart Cities
by Daniela GHETU, 2022-06-09
YAS MicroInsurance (YAS), an insurance on blockchain frontier, is joining forces with Amodo, a telematics insurtech company, to deliver autonomous insurance on-chain. This collaboration symbolises the new age of insurance against the backdrop of smart cities, the partners stated.

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GERMANY: Insurers are pleading for an overall concept of insurance protection, climate change adaptation and prevention
by Daniela GHETU, 2022-06-09
With 2021 proving the costliest year ever for German insurers after the flood disaster in the Ahr Valley, the local insurance industry pleads for an overall concept of insurance protection, climate change adaptation and prevention as the only long-term sustainable alternative to compulsory insurance against natural hazards.

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Marsh McLennan Agency acquires Clarke Insurance
by Andrei Victor, 2022-06-06
Marsh McLennan Agency (MMA), a subsidiary of Marsh, announced the acquisition of Clark Insurance, a leading independent agency in Maine. Terms of the acquisition were not disclosed.

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STATISTICS

STATISTICS: ALBANIA, 1Q2022: GWP up by 6% y-o-y in Q1 2022; motor insurance classes responsible for 69% of the paid claims
by Andrei Victor, 2022-06-08
At the end of March 2022, Albanian insurance market totaled ALL 4.28 billion (EUR 35.19 million), or 5.97% more y-o-y. During Q1 2022, the number of concluded insurance contracts reached 247,576 up by 21.99% compared to January-March 2021, official data provided by the Albanian Financial Supervisory Authority (AFSA) showed.

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STATISTICS: BiH Q1 2022: insurers' business increased by 9.20% to over EUR 107 m
by Andrei Victor, 2022-06-08
The insurance companies operating in Bosnia and Herzegovina reported aggregate Q1 2022 GWP worth BAM 209.81 million (EUR 107.27 million), up by 9.20% compared with the same period of 2021, according to the quarterly market figures published by the local insurance agency - AZOBIH.

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STATISTICS: CROATIA, Q1 2022: 9% GWP increase, driven by the non-life insurance segment
by Andrei Victor, 2022-06-08
The GWP of Croatian insurers increased by 9.02% y-o-y in Q1 2022, to HRK 3.54 billion (~EUR 468 million), according to the quarterly figures published on the website of the Croatian Insurance Bureau.

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STATISTICS: SERBIA FY2021: the market has exceeded the EUR 1 billion threshold for the first time
by Andrei Victor, 2022-06-08
The Serbian insurance market ended 2021 with aggregate GWP worth RSD 119.40 billion (EUR 1.02 billion), up by 8.64% y-o-y, according to the NBS's (National Bank of Serbia) year-end figures.

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STATISTICS: BELARUS, 1Q2022: market growth was about 6% y-o-y (in local currency)
by Marina MAGNAVAL, 2022-06-08
In the first quarter of 2022, GWP of the Belarusian insurance sector reached BYN 476.76 million (EUR 144.11 million), up only 6.22% y-o-y in local currency, according to data released by the Belarusian Ministry of Finance.

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STATISTICS: KAZAKHSTAN, 1Q2022: life insurance shrunk by 17% y-o-y
by Marina MAGNAVAL, 2022-06-08
The first quarter of 2022, the insurance sector of Kazakhstan ended with an increase of 6.57%, reaching KZT 231.91 billion (EUR 454.22 million). Unlike premiums, paid claims increased by more than 34% y-o-y, as the data published by the National Bank show.

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STATISTICS: KYRGYZSTAN, 1Q2022: the market expanded by about 44% y-o-y (in local currency)
by Marina MAGNAVAL, 2022-06-08
According to the 1Q results, the insurance sector of Kyrgyzstan recorded an increase of about 44% y-o-y, reaching KGS 468.06 million (EUR 5.04 million), as the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic show.

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TOP EVENT

Did you miss Insurance Europe's 12th International Conference? Watch the event now online
by XPRIMM, 2022-06-09
Protection gaps impact the health and wealth of both individuals and businesses. In a full day of debates and speeches, Insurance Europe's 12th International Conference examined what, where and why gaps exist, looking into exposures to natural catastrophes, cyber risks, inadequate pension saving and much more.

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VIDEO INTERVIEW

MARKETS & TRENDS

OECD Economic Outlook: heavy global price of Russia's war against Ukraine; Central and Eastern Europe highly expose to the war's economic consequences
by Daniela GHETU, 2022-06-08
Russia's invasion of Ukraine immediately slowed the recovery from the COVID-19 pandemic and set the global economy on a course of lower growth and rising inflation, the OECD's latest Economic Outlook shows. Strong exposure to the conflict region has put additional pressure on most Eastern European economies.

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ON THE MOVE

Mike Craston is the new Non-Executive Director of Aviva
by Andrei Victor, 2022-06-06
Aviva announces that Mike Craston has been appointed as a Non-Executive Director of Aviva with effect from 17 May 2022.

Chubb appoints Cheryl Krauss Senior VP, Chubb Group and Chief Communications Officer
by Andrei Victor, 2022-06-06
Chubb announced that Cheryl Krauss has been appointed Senior Vice President, Chubb Group and Chief Communications Officer, effective June 6.


VIG

Omniasig

ERGO


EVENTS

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

Macedonian Actuarial Association
Association Actuaires du Monde
Sessions:
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

9th AIDA Europe Conference
The Marriott, Zurich, Switzerland
6-7 October 2022
Organizer : AIDA Europe
Media Partner : XPRIMM Publications
For details : aidainsurance.org

WorldPensionSummit 2022
Location: Louwman Museum, The Hague, The Netherlands & Virtual 2-4 November 2022 Media Partner: XPRIMM Publications For details: www.pionline.com/wps2022


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