Insurance Newsletter No. 576, 16 December 2021
www.xprimm.com
TOP NEWS

BULGARIA: in 9M2021 the insurers' assets rose to EUR 5.06 billion
by Marina MAGNAVAL, 2021-12-15
For the first 9 months of 2021 the assets of Bulgarian insurers increased by 9.3% y-o-y to about BGN 9.9 billion (~EUR 5.06 billion*), SeeNews wrote according to the statement of the country's central bank said.

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CROATIA: Croatia Osiguranje is a leader in non-life insurance, Wiener in life insurance
by Marina MAGNAVAL, 2021-12-15
GWP in Croatia grew by 11.87% at the end of November 2021 and amounted to HRK 10.74 billion (~EUR 1.43 billion*) osiguranje.hr wrote.

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POLAND: Bancassurance in a strong uptrend
by Marina MAGNAVAL, 2021-12-15
According to data collected by the Polish Insurance Association (PIU), as at September 30, 2021, GWP through the banking channel reached PLN 5.21 billion, 26% more y-o-y (~EUR 1.12 billion*).

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Poland and Greece: NN Group obtains EC competition clearance to acquire MetLife's businesses
by Andrei Victor, 2021-12-13
NN Group announces that it has obtained competition clearance from the European Commission to acquire MetLife's business activities in Poland and Greece. The intended acquisition was announced on 5 July 2021.

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Romanian insurer Allianz-Tiriac is heading for a historic year in terms of sales and profitability
by Daniela GHETU, 2021-12-16
Allianz-Tiriac Insurance reported for 9M2021 GWP worth EUR 239 million, by over 19% up y-o-y. Sales grew significantly on all business lines, driven by the accelerated increase of the number of customers, the company stated in a press release. Operating profit for 9M 2021 stood at approx. EUR 22.6 million.

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Swiss Re to sell elipsLife to Swiss Life International
by Andrei Victor, 2021-12-13
Global reinsurer Swiss Re announced that it has agreed to sell its life insurance subsidiary elipsLife to Swiss Life International and to enter into a long-term reinsurance partnership for elipsLife's in-force and new business.

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GEORGIA: in 9M2021 net profit of the insurance sector decreased by 14% y-o-y
by Marina MAGNAVAL, 2021-12-14
As of September 30, 2021, profit of the Georgian insurance sector amounted to GEL 131.2 million (EUR 36 million*), net profit - GEL 31.9 million, which is 14% less y-o-y (as of 30.09.2020, net profit of the insurance sector was GEL 44.3 million), Business Georgia wrote according to the data of the Insurance Supervision Agency.

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RUSSIA: for 9M, the share of MTPL paid claims averaged almost 65% of GWP, Motor Hull market grew by more than 20% y-o-y
by Marina MAGNAVAL, 2021-12-14
According to statistics from the Bank of Russia, MTPL GWP for January-September 2021 reached RUB 172 billion (~EUR 2 billion*), which is 5% or RUB 8.2 billion more y-o-y, while paid claims reached RUB 111.3 billion (+9%), ASN wrote. The number of MTPL contracts concluded for the period increased from 29.9 million to 30.8 million units.

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RUSSIA: GWP received through intermediaries amounted to almost 74% of all market premiums for three quarters of the year
by Marina MAGNAVAL, 2021-12-14
From January to September 2021, GWP of insurers through intermediaries increased by 21%, to RUB 998.6 billion (EUR 11.76 billion*). At the same time, for 9 months of 2020, GWP through intermediaries accounted for 72.5% of all market premiums, and at the end of 9 months of 2021, this share increased to 73.6%, ASN wrote referring to the data of the Central Bank.

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UZBEKISTAN: Malakut opens an office in Uzbekistan
by Marina MAGNAVAL, 2021-12-15
The international insurance broking group Malakut opened an office in Uzbekistan. This is Malakut's 9th office worldwide and its 4th on the territory of the former USSR.

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ON THE MOVE

AGCS names YEE global TMT solution director
by Andrei Victor, 2021-12-13
Effective January 1, 2022, Jody YEE will be appointed Global Industry Solution Director for Technology, Media & Telecom (TMT) at Allianz Global Corporate & Specialty (AGCS).

AIG names Rose Marie GLAZER Chief Human Resources Officer
by Andrei Victor, 2021-12-13
American International Group announced that Rose Marie GLAZER, currently Senior Vice President, Deputy General Counsel and Corporate Secretary, has been promoted to Executive Vice President & Chief Human Resources Officer, effective January 1, 2022. Rose Marie GLAZER will report to Peter ZAFFINO, President & Chief Executive Officer, and will join AIG's Executive Leadership Team.

GC appoints Head of UK & Ireland Life as it continues global life expansion
by Andrei Victor, 2021-12-13
Guy Carpenter, reinsurance specialist part of Marsh McLennan, announced the appointment of Isaac Sanday as Head of UK & Ireland Life, effective January 2022.

MMC appoints Francis Bouchard Managing Director of Climate
by Andrei Victor, 2021-12-13
Global re/insurance broker Marsh McLennan announced that Francis BOUCHARD has joined the Marsh McLennan Advantage team as Managing Director of Climate.

MARKET&TRENDS

Uber independent drivers and couriers in Europe will get insurance protection from Allianz Partners starting 2022
by Daniela GHETU, 2021-12-16
Allianz Partners and Uber have announced a partnership in which Allianz Partners will provide protection and security for independent drivers and couriers who partner with Uber and Uber Eats in 23 European countries, effective January 1, 2022.

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STATISTICS

STATISTICS: Serbian insurers posted 9.7% y-o-y increase in Q3 business
by Andrei Victor, 2021-12-16
Serbian insurance market expanded by 9.7% y-o-y during 3Q2021 to RSD 88.5 billion (~EUR 754 million), according to the quarterly figures published on the website of National Bank of Serbia (NBS).Non-life GWP rose 10.5% y-o-y to RSD 69.2 billion, whereas the life insurance segment earned premiums of RSD 19.3 billion, up by 6.8% y-o-y, as NBS announced.

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STATISTICS: Romania, 9M2021: Top 10 insurers provided together for 88% of total GWP
by Andreea RADU, 2021-12-16
The Romanian insurance market is characterized by a medium to high degree of concentration. In 9M2021, approximately 88% of the total volume of GWP was carried out by 10 companies, according to the ASF - Financial Supervisory Authority report. See the rankings of the players as calculated by XPRIMM and what the changes were compared to the same period last year.

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STATISTICS: RUSSIA, 3Q2021: the market grew by more than 19%, credit life insurance remains the key growth driver
by Marina MAGNAVAL, 2021-12-14
Total GWP for 9 months of 2021 amounted to RUB 1.356 trillion (~EUR 15.98 billion), which is RUB 220 billion or 19.4% more y-o-y, follows from data published by the Bank of Russia. Paid claims increased from RUB 464.7 billion to RUB 587.5 billion (+26.4%).

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STATISTICS: UKRAINE, 3Q2021: the market expands by more than 15% y-o-y (in UAH)
by Marina MAGNAVAL, 2021-12-14
The insurance market in Ukraine at the end of the third quarter of 2021 recorded an increase of 15.48% y-o-y to UAH 38.07 billion (EUR 1.22 billion). At the same time, paid claims of insurers increased by almost 21% and reached UAH 13.42 billion, as the data published by the National Bank of Ukraine show.

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VIG



ERGO


EVENTS

9th AIDA Europe Conference
Zurich, Switzerland
18-20 May 2022
Organizer:  AIDA Europe
Media Partner: XPRIMM Publications
For details: aidainsurance.org