Insurance Europe report: FY2021 GWP exceeded the 2019 level in most European markets

Insurance Newsletter No. 603, 14 July 2022

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES

FROM THE EDITOR DESK

XPRIMM News goes in vacation! We will be back on August 11th with a new issue of the newsletter. Meanwhile, visit xprimm.com – updates will continue throughout the vacation.

TOP NEWS

Insurers supportive of EC intention to repeal DMD; remaining rules need to ensure consumers can easily access insurance protection at distance
by press.release, 2022-07-12
Insurance Europe has submitted its response to the EC consultation on its proposal to repeal the Directive on Distance Marketing of Consumer Financial Products (DMD) and to introduce a new section on distance marketing of financial services in the Consumer Rights Directive (CRD) regarding financial services contracts entered at a distance.

Insurers encourage EC to widen proposed scope of shared public sector datasets
by press.release, 2022-07-12
Insurance Europe has published its response to a consultation by the European Commission on its draft Implementing Regulation laying down a list of specific high-value datasets and the arrangements for their publication and re-use.

CROATIA: at the end of June the market expanded by 7.53%
by Marina MAGNAVAL, 2022-07-13
According to the Croatian Insurance Authority, in June the market totaled HRK 6.88 billion (~EUR 0.91 billion), which is 7.53% more compared to 2021, osiguranje.hr reports.

LITHUANIA: Lietuvos draudimas: losses of homeowners in the Q1 exceeded EUR 6 million
by Marina MAGNAVAL, 2022-07-13
According to the data of Lietuvos draudimas, homeowners already suffered insured losses that exceeded EUR 6 million in the first quarter of this year. This is exactly the amount that was paid to the customers, and is 20% less y-o-y, draudimas.lt wrote.

NORTH MACEDONIA: EUR 8 million received by life insurers in the first three months
by Marina MAGNAVAL, 2022-07-13
In Q1 2022, the five life insurance companies operating in North Macedonia concluded 14,000 new contracts with over 20,000 citizens insured. Premiums reached MKD 494 million/EUR 8 million, data provided by the ISA (Insurance Supervision Agency) show.

ROMANIA: Euroins is the non-life insurance market leader after Q1
by Daniela GHETU, 2022-07-12
According to Financial Supervisory Authority's latest report, Euroins Romania ranks first in the non-life insurance market hierarchy after Q1 2022, with a market share of 23.2%. The company has sold by 36% more policies in Q1 2022 as compared to Q1 2021, reaching a total of 1,2 million policies.

KBC completes acquisition of RBI's Bulgarian operations
by Andrei Victor, 2022-07-11
Belgian financial group KBC announced that KBC Bank and Raiffeisen Bank International (RBI) completed the deal announced in November 2021 concerning the acquisition of 100% of the shares of Raiffeisen bank (Bulgaria) EAD, comprising RBI's Bulgarian banking operations.

AZERBAIJAN: proposals made to expand the list of objects of agricultural insurance
by Marina MAGNAVAL, 2022-07-12
Several proposals to expand the list of objects of agricultural insurance have been presented to the government of Azerbaijan, Trend wrote referring to the insurance expert Kamran BABAYEV.

BELARUS: Belneftestrakh awarded for its contribution to the development of the financial market in the field of insurance
by Marina MAGNAVAL, 2022-07-12
On July 7, Anatoly CHAYCHITS, General Director of the insurance company Belneftestrakh, was awarded the prize for "contribution to the development of the financial market in the field of insurance" on the occasion of the "Man of Action 2022" competition, BELTA reports.

GEORGIA: in the context of rising inflation, insurance products have risen in price by 10-15%
by Marina MAGNAVAL, 2022-07-12
High inflation (13%), affecting the Georgian economy like almost all others, has determined rising prices for products and services, insurance included. Thus, insurance products' prices have risen by about 10-15%, according to the CEO of the insurance company Global Benefit, Nino KOBAKHIDZE, Business Georgia wrote.

STATISTICS

STATISTICS: BULGARIA, 1Q202: insurers end-March profits decreased to EUR 30.3 million
by Andrei Victor, 2022-07-12
Bulgarian insurance market totaled BGN 885.4 million (EUR 452.7 million) at the end of March 2022, up by 9.7% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.

STATISTICS: North Macedonia, 1Q2022: insurers posted 11% y-o-y increase in Q1 business
by Andrei Victor, 2022-07-12
At the end of March 2022, the insurance market of North Macedonia totaled MKD 2.98 billion (EUR 48.37 million), up by 11% y-o-y, according to preliminary data published by the local Insurance Supervision Agency.

STATISTICS: SERBIA, 1Q2022: insurance market posted Q1 double digit increases in GWP and claims
by Andrei Victor, 2022-07-12
Serbian insurers ended Q1 2022 with total GWP worth RSD 31.5 billion (EUR 267.8 million), 13.4% more y-o-y, according to the end-quarter statistics published by the National Bank of Serbia (NBS).

MARKETS & TRENDS

Insurance Europe: across Europe, GWP for FY2021 have exceeded the 2019 level in most markets
by Daniela GHETU, 2022-07-14
The preliminary 2021 figures show Europe's reopening economies seeing rebounds in insurance premiums, albeit at different speeds. In most of the reporting markets, total premiums grew compared with the pre-pandemic year 2019, reads the latest Insurance Europe report on the evolution of the European insurance market in 2021*.

ON THE MOVE

Christian KREUTZER appointed Executive Director by Gallagher Re
by Daniela GHETU, 2022-07-11
Gallagher Re announced it has appointed Christian KREUTZER as Executive Director, joining the global reinsurance broking and advisory firm's Nordic management team with immediate effect. Bringing more than 20 years' experience in international business, across both treaty and facultative reinsurance, Christian will play an essential part in supporting Gallagher Re's client servicing and growth commitment in the Nordic region.

Lloyd's Europe appointed Bertrand Heugues as CUO
by Andrei Victor, 2022-07-11
Lloyd's - the world's leading insurance and reinsurance marketplace, confirmed the appointment of Bertrand Heugues as Chief Underwriting Officer (CUO) of Lloyd's Europe - responsible for overseeing the strategic direction for underwriting, delegated authority management, claims and reinsurance business.

SCOR's CUO of IDI Jean Tuccella announces his retirement
by Andrei Victor, 2022-07-11
French reinsurer SCOR announced that Jean Tuccella - Chief Underwriting Officer of Inherent Defects Insurance - has decided to retire, effective July 1st. His position will be taken over by Jaume Avella Fluvia who will stay part-time at SCOR until the end of January 2023 to ensure a smooth transition.

EVENTS

7th Annual International Conference of Slovenia
Grand Hotel Union, Ljubljana, Slovenia
6 September 2022
Organizer: Slovenian AZN
Media Partner: XPRIMM Publications
For details: a-zn.si

1st Annual Conference of EERIA
16-17 September 2022 Ohrid, North Macedonia Organizer: Eastern European Risk Insurance Association (EERIA) Media Partner: XPRIMM Publications For details : eeria.org

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

CURRENT XPRIMM REPORTS

XPRIMM News No. 603, 14 July 2022

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