TOP EVENTS
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by Daniela GHETU, 2023-01-19
Vienna will host, on 4 April, the first ESG in Insurance Conference organized within the IIF - The International Insurance Forum framework, in 2023. Vienna Insurance Group is the Official Partner of the event, its CEO, Mrs. Elisabeth Stadler giving a Keynote Speech.
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TOP NEWS
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by Andrei Victor, 2023-01-16
Global reinsurer Munich Re informed it estimates 2022 overall losses of around USD 270 billion (previous year USD 320 billion) of which roughly 44% or USD 120 billion were covered by the insurance industry. Munich Re representatives pointed out that 2022 overall losses were close to the average for the last five years, while insured losses were roughly USD 23 billion above the 2017-2021 average (USD 97 billion).
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by Andrei Victor, 2023-01-16
The war in Ukraine, high food and energy prices, the fight against inflation, the looming recession, the transition to renewable energy, and China's uncertain post-pandemic path present just some of the entangling challenges that will preoccupy the global economy in the following years, according to Allianz Research's recently published Economic Outlook 2023-2024 report.
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by Daniela GHETU, 2023-01-17
Insurance Europe has responded to a consultation conducted by the European Data Protection Board (EDPB) on its draft recommendation on the application for approval and on the elements to be found in the Controller Binding Corporate Rules (BCRs).
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by Andrei Victor, 2023-01-16
Austrian financial group Vienna Insurance (VIG) informed that its Slovak subsidiary Kooperativa poistovna has purchased 100% of the shares in 365.life d. s. s. operated by 365.bank in Slovakia.
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by Marina MAGNAVAL, 2023-01-19
According to the Estonian Traffic Insurance Fund (LKF), in 2022 over 38,000 traffic accidents occurred in Estonia, which is the highest number ever. Last year's total losses exceeded EUR 80 million, which is also the largest in history.
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by press.release, 2023-01-19
Hannover Re has developed an additional retrocession tool that for the first time enables the capital markets to participate directly in coverage of its cyber risks through a quota share cession. Longstanding partner Stone Ridge is supporting the transfer with capital of USD 100 million.
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by Marina MAGNAVAL, 2023-01-16
The phased introduction of Universal Health Insurance in Armenia will begin in 2024. The Ministry of Health of the Republic of Armenia has developed and presented a draft Concept on the implementation of UHI, ArmInfo writes.
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by Marina MAGNAVAL, 2023-01-16
Concentration of the insurance sector in Azerbaijan is quite high. Of the AZN 875.13 million (~EUR 494.42 million) of GWP collected in January-November 2022, AZN 691.13 million or 79% fell on 5 insurance companies.
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by Marina MAGNAVAL, 2023-01-16
In November 2022, the insurance sector's assets increased by 1.1% to KZT 2.1 trillion/EUR 4.3 billion (an increase of 12.7% since the beginning of 2022), mainly as a result of an increase in income from insurance activities, Allinsurance.kz wrote with reference to the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.
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by Marina MAGNAVAL, 2023-01-16
From April 1, 2023, in Kyrgyzstan, drivers will be fined for not having MTPL policies, ru.sputnik.kg writes with reference to the Ministry of Economy.
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by Marina MAGNAVAL, 2023-01-16
TAS Insurance Group, which is among the top 5 market leaders in Ukraine, paid out a total of UAH 812.85 million (~EUR 21.29 million) in January-November 2022, including payments under Motor Hull insurance contracts of UAH 223.75 million. Thus, the share of MoD in the company's paid claims portfolio amounted to 27.53%, according to Forinsurer.
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STATISTICS
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by Andrei Victor, 2023-01-19
Bulgarian insurance market reported January-September 2022 net profits worth BGN 245.78 million (EUR 125.67 million), up by 1.47% y-o-y as compared with the snapshot on 30 September 2021 (BGN 242.22 million), according to the market statistics published on Financial Supervisory Commission website.
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by Andrei Victor, 2023-01-19
Serbian insurance market ended the first three quarters of 2022 with aggregate GWP worth RSD 99.39 billion (~EUR 847 million), up by 12.20% y-o-y, according to the quarterly figures published on the website of National Bank of Serbia (NBS). Non-life GWP was up by 14.31% y-o-y to RSD 79.17 billion, while the life insurance segment totaled RSD 20.22 billion, up by 4.64% y-o-y.
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MARKETS & TRENDS
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by Daniela GHETU, 2023-01-19
An analysis published by the Polish member of the Vienna Insurance Group family, insurer Compensa, highlihts 5 events that had a major impact on motor insurance in 2022, also anticipating some of 2023 trends in the Polish motor insurance business. As these trends are largely common to many markets across the CEE region, we are offering an English version of it.
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ON THE MOVE
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by Marina MAGNAVAL, 2023-01-19
Sandra Vrabec was appointed a member of the Management Board of UNIQA osiguranje responsible for finance, investments, information technology, actuarial affairs, reinsurance, risk management, controlling, general affairs and procurement, and security, osiguranje.hr wrote.
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by Marina MAGNAVAL, 2023-01-19
As of January 1, Urzula Deska has become the new chairman of the board of ERGO, one of the leading insurance groups in the Baltic region, in the Baltic States, and will also hold the position of head of ERGO's Latvian branches in the future, as Latvian Insurers' Association (LAA) reports.
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by Daniela GHETU, 2023-01-19
Generali Global Corporate & Commercial (GC&C) announced the appointment of Christian Kanu as CEO, effective January 30, 2023. Manlio Lostuzzi, Regional Officer International - Central Eastern Europe Region and current ad-interim CEO of GC&C, will keep his role in GC&C until 29 January 2023.
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by Andrei Victor, 2023-01-16
Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions, announced Joe Hurd is appointed as a nominated member of the Lloyd's Council.
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by Andrei Victor, 2023-01-16
American International Group announced that Shane Fitzsimons, Executive Vice President and Chief Financial Officer, AIG, will take a temporary medical leave of absence, effective immediately.
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EVENTS
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CURRENT XPRIMM REPORTS
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Marsh appoints Nilay Ozden to head Marsh Specialty, Europe; Cristian Fugaciu and Artur Grzeskowiak are Co-CEOs for Central and Eastern Europe.
