Insurance Newsletter No. 578, 20 January 2022
www.xprimm.com
TOP NEWS

Allianz Risk Barometer: Cyber, BI and natural disasters are the Top 3 business risks globally in 2022
by Andrei Victor, 2022-01-20
Cyber perils are the biggest concern for companies globally in 2022, according to the Allianz Risk Barometer. The threat of ransomware attacks, data breaches or major IT outages worries companies even more than business and supply chain disruption, natural disasters or the Covid-19 pandemic, all of which have heavily affected firms in the past year.

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Bulgaria: Insurers' Q3 net profits expanded by 37% y-o-y to EUR 124 m
by Andrei Victor, 2022-01-17
Bulgarian insurance market posted aggregate 9 months 2021 net profit of BGN 242.2 million (EUR 123.8 million), 37% more as compared with the snapshot on 30 September 2020 (BGN 176.8 million/EUR 90.4 million), according to the market statistics published on FSC website.

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BULGARIA: in 10M2021 the life insurers' business up 34% y-o-y, while the non-life went up 8.1%
by Marina MAGNAVAL, 2022-01-17
In 10M2021 the combined net profit of life insurance companies in Bulgaria increased to BGN 52.5 million (EUR 26.8 million) from BGN 21.9 million in the like period of 2020, SeeNews reports with reference to the country's financial regulator.

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LITHUANIA: Lietuvos Draudimas: Due to the raging storm, losses have already reached EUR 120 thousand
by Marina MAGNAVAL, 2022-01-17
According to the data of Lietuvos Draudimas, EUR 120 thousand have already been reserved to compensate losses of very strong wind gusts and thunderstorms recorded in Lithuania on Friday. The company's experts say that the numbers will definitely grow - it is expected to reach EUR 300 thousand, delfi.lt reports.

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LITHUANIA: The fire caused twice as much damage last year
by Marina MAGNAVAL, 2022-01-17
BTA insurance companies estimated that losses caused by fire last year are twice as high as in 2020. In total, over EUR 1 million was paid in 2021.

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POLAND: Europ Assistance Polska sums up the last year
by Marina MAGNAVAL, 2022-01-17
During the 25th year of Europ Assistance's operations in Poland, the company's service volumes returned to pre-pandemic levels, and in some areas, the operator of assistance services handled even more cases than in the period before Covid-19.

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Insurance Europe: Solvency II review must correct current model's deficiencies and not increase costs
by Daniela GHETU, 2022-01-19
While European Commission's proposals for a Directive amending Solvency II include a range of helpful and necessary changes, they also include elements which would undermine the improvements and/or add avoidable costs, Insurance Europe said.

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RUSSIA: Expert RA forecasts the insurance market growth in 2022 by 7-9%
by Marina MAGNAVAL, 2022-01-17
The rating agency Expert RA has published a preliminary forecast for the insurance market development in 2022, according to which the market will grow by 7-9% y-o-y, and total GWP approach RUB 2 trillion (~EUR 23 billion*), ASN reports with reference to the rating agency.

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RUSSIA: VSK: the largest share of claims in 2021 came from voluntary health insurance
by Marina MAGNAVAL, 2022-01-17
According to the preliminary results of 2021, paid claims of VSK (one of the top-10 insurers) for all types of insurance reached almost RUB 37 billion (~EUR 0.44 billion*), and the number of settled claims was about 600 thousand, ASN wrote.

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ON THE MOVE

RUSSIA: Vladimir CHISTYUKHIN appointed First Deputy Chairman of the Bank of Russia
by Marina MAGNAVAL, 2022-01-17
First Deputy Chairman of the Bank of Russia Sergey SHVETSOV decided to leave his post on March 21, 2022, ASN reports with reference to the press service of the regulator.

CROATIA Osiguranje elected two SB members
by Andrei Victor, 2022-01-19
Croatian largest insurer CROATIA Osiguranje announced on the website of Zagreb Stock Exchange (Zagrebacka burza d.d.) that the General Assembly of the company adopted 18 January 2022 the decision on the election of Roberto Skopac and Hrvoje Patajac as members of the Supervisory Board of CROATIA osiguranje for a term of 4 years starting from the 24 April 2022.

SCOR names Yves Cormier as Head of Investor Relations
by Andrei Victor, 2022-01-19
French reinsurer SCOR announced the appointment of Yves Cormier as Head of Investor Relations, with immediate effect. Reporting to Ian KELLY, Group Chief Financial Officer, Yves will be based in London.

Generali announced the resignation of Deputy Vice-Chairman Francesco Gaetano CALTAGIRONE
by Andrei Victor, 2022-01-17
Assicurazioni Generali informed that the director Francesco Gaetano CALTAGIRONE, Deputy Vice-Chairman, non-independent director and member of the Appointments and Remuneration; Corporate Governance, Social and Environmental Sustainability; Investments; and Strategic Operations Committees, has announced his resignation from the Board on Friday, January 13th.

Generali announced the resignation of the director Romolo BARDIN
by Andrei Victor, 2022-01-19
Assicurazioni Generali informs that the director Romolo BARDIN, independent director and member of the Appointments and Remuneration; Investments; Strategic Operations; and Related Party Transactions Committees, has announced his resignation from the Board.

Lloyd's forms new leadership structure to deliver Blueprint Two
by Andrei Victor, 2022-01-19
Lloyd's announced a new operational structure for the delivery of its transformational Blueprint Two programme following the departure of Lloyd's Chief Operations Officer (COO) Jennifer RIGBY.

CONTRIBUTORS
Women mean business: by 2029, a more gender-inclusive world could generate an additional USD 2.1 trillion of insurance spend
by Mira KIRIDZIC-BÜGLER, 2022-01-20
Women entrepreneurs, like all business owners, face risks ranging from climate and natural catastrophe risk to property damage, liability and cyber security, supply chain risk and business disruptions. Insurance plays a key role in providing protection for their employees, their property and their income. As women's role in society is rapidly evolving, they have emerged to be, as specific segment, a business opportunity for insurers.

STATISTICS

STATISTICS: Bulgarian insurers posted double-digit increase in January-September business
by Andrei Victor, 2022-01-17
Bulgarian insurance market totaled BGN 2.44 billion (EUR 1.24 billion) at the end of September 2021, up by 12.7% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.

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STATISTICS: Polish insurers posted Q3 aggregate profits of over EUR 1 bn
by Andrei Victor, 2022-01-19
Polish insurance market totaled PLN 50.9 billion (EUR 10.9 billion) at the end of September 2021, up by almost 7% y-o-y, according to the quarterly market figures published by The Polish Financial Supervision Authority (KNF). Claims and benefits paid by local insurers increased by 2.9% y-o-y to PLN 30.2 billion or ~EUR 6.5 billion.

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STATISTICS: Slovenian market exceeds EUR 2 bn at end-September 2021
by Andrei Victor, 2022-01-19
The Slovenian insurance market totaled EUR 2.03 billion in the first nine months of 2021, a 3.29% increase y-o-y, according to the Slovenian Insurance Association's Q3 report. In terms of paid claims, the aggregate value was ~EUR 1.18 billion, of which about EUR 387 million - life indemnities and EUR 803 million - payments related to non-life insurance sub-classes.

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VIG



ERGO


EVENTS

InsureTek
Constellation Ballroom, Dubai Marina Hotel
9th-10th February, 2022
Organizers: Biz Events Management
Media Partner: XPRIMM Publications
For details: insuretek.org


CEE & SEE Regional Actuarial Insurance Conference
Skopje, Macedonia
31 March - 1 April, 2022
Organizers: ISA North Macedonia & Association Actuaires du Monde
Co-organizer: XPRIMM

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


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