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XPRIMM News No. 617, 10 November 2022

Insurance Newsletter No. 617, 10 November 2022
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TOP NEWS

by Daniela GHETU, 2022-11-10
Munich Re achieved a profit of EUR 1,903 million in the first three quarters of 2022, by 7.6% lower y-o-y, high major-loss expenditure in property-casualty reinsurance and strong performance in life and health business being the major impact factors, as well as a robust increase in reinvestment yield.
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by Andrei Victor, 2022-11-08
On October 28, 2022, ERGO pojistovna changed its name to SV pojistovna, opojisteni.cz wrote here. Thus, the change of ownership of insurer to the German financial group SV Holding AG based in Dresden completed in November 2021, is publicly visible, opojisteni.cz informed.
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by Andrei Victor, 2022-11-08
Czech insurance broker INSIA becomes part of the Polish UNILINK group, as INSIA informed here. According to the statement, UNILINK Group has acquired 80% of INSIA from Marsh.
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by Marina MAGNAVAL, 2022-11-08
According to the Estonian Insurance Companies Union (EKsL) and Market Research survey, half of Estonians have bank loans. At the same time, a quarter of people would not be able to cope in case of loss of income of one family member.
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by Andrei Victor, 2022-11-09
Austrian VIG informed it has applied for listing of its shares on the Budapest Stock Exchange. The shares of VIG (ISIN AT0000908504) have been listed on the Vienna Stock Exchange since 1994 and on the Prague Stock Exchange since 2008.
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by Marina MAGNAVAL, 2022-11-08
According to the Association of Latvian Insurers (LAA), a gradual increase in interest in private individual health insurance was observed during Covid-19. The head of the association Janis ABASINS noted that the war and insecure situation in the region could further increase interest in the near future, lsm.lv reports.
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by Marina MAGNAVAL, 2022-11-08
Montenegrin insurer Lovcen Osiguranje reported a net profit of EUR 1.44 million in the first nine months of 2022, up 134% y-o-y, SeeNews reported.
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by Andrei Victor, 2022-11-08
Talanx Group announced is strengthening its position in Turkiye, its core market, through a cooperation agreement with Fiba Group, one of Turkiye's largest corporate groups.
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by Daniela GHETU, 2022-11-09
Rapid inflation, debt crises and the cost of living crisis are the biggest threats to doing business over the next two years in G20 countries, while - environmental issues were pushed far down on the short-term agendas of many business leaders, new data from the World Economic Forum show.
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by Daniela GHETU, 2022-11-10
Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan, announced the launch of MetaRisk® Live, a new tool that supports the structuring and optimization of reinsurance strategies in real time.
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by Andrei Victor, 2022-11-09
Generali's Portuguese entity Tranquilidade has entered into a long-term distribution agreement established with CTT Group (the Portuguese postal services group) for the distribution of Life and P&C policies through the CTT Group network (post office network, as well as its bank, Banco CTT).
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by Marina MAGNAVAL, 2022-11-10
PASHA Life Insurance, maintained its leading positions in the insurance market in general and growth trends in the third quarter of this year. The company's capital amounted to AZN 62 million, total assets - to AZN 519 million (~EUR 310.77 million), which is 30% more y-o-y, Trend reports.
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by Marina MAGNAVAL, 2022-11-10
In the first half of 2022, net profit of the Georgian insurance sector amounted to GEL 10.3 million (~EUR 3.30 million), which is 42% less than a year earlier in the same period, Business Georgia wrote.
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by Marina MAGNAVAL, 2022-11-10
The assets of insurance (reinsurance) companies in Kazakhstan increased slightly by 0.03% to KZT 2 trillion (~EUR 4.3 billion) by the end of September, or of 10.3% since the beginning of 2022, mainly due to an increase in income from insurance activities, Allinsurance.kz reports quoting the supervising authority.
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by Andrei Victor, 2022-11-08
Czech insurance broker INSIA becomes part of the Polish UNILINK group, as INSIA informed here. According to the statement, UNILINK Group has acquired 80% of INSIA from Marsh.
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INTERVIEW


by Daniela GHETU, 2022-11-10
Aldagi is the first company in Georgia to incorporate segment and data-based approaches into its tariff policy. We have already taken the first steps to offer other insurance companies to have their risks reinsured with Aldagi. We see a real opportunity to go beyond Georgia and extend the range of our activities in the region.
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MARKETS & TRENDS


by Daniela GHETU, 2022-11-10
Insurers' exposures to macro and market risks are currently the main concern for the insurance sector, is the finding of EIOPA's Risk Dashboard based on Solvency II data from the second quarter of 2022. All other risk categories, such as profitability and solvency, climate as well as digitalization and cyber risks stay at medium levels.
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STATISTICS

by Andrei Victor, 2022-11-10
Estonian insurers reported January-September 2022 aggregate GWP worth EUR 405.77 million, 13.08% more y-o-y or ~EUR 47 million in absolute value, according to the market figures published by the Estonian National Statistics Board. Total paid claims by local insurers increased by 7.40% y-o-y to EUR 288.82 million.
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by Andrei Victor, 2022-11-10
The insurance market of Lithuania totaled EUR 905.83 million at end-September 2022, up by 19.14% y-o-y, according to the quarterly market figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims and indemnities worth EUR 501.22 million, up by 28% y-o-y.
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ON THE MOVE

by Andrei Victor, 2022-11-08
AIG - American International Group - announced that the Board of Directors has elected Paola Bergamaschi as a director of the company, effective December 1, 2022.

by Daniela GHETU, 2022-11-10
The Global Federation of Insurance Associations (GFIA) has elected Susan NEELY as its new president, and made new appointments to its executive committee, during its general assembly.


VIG

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