Insurance Newsletter No. 581, 10 February 2022
www.xprimm.com
TOP EVENT

EVENT: DIA Amsterdam 2022 - XPRIMM Readers get a special discount!
by team, 2022-02-10
The new date and location for the in-person event DIA Amsterdam 2022 have been announced. The conference will take place on June 29-30 at Taets Art & Event Park. XPRIMM support the event as a Media Partner, its readers benefitting from a EUR 200 discount.

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TOP NEWS

Insurance Europe: updated key messages on EC proposals for Corporate Sustainability Reporting Directive
by Marina MAGNAVAL, 2022-02-10
The insurance industry is Europe's largest institutional investor, with EUR 10 trillion of assets under management, and for insurers to make appropriate investment decisions and comply with sustainability regulation it is vital that consistent, comparable, and machine-readable sustainability data is available, the recent Insurance Europe's survey says.

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Insurance Europe: updated key messages on EC proposals for Corporate Sustainability Reporting Directive
by Marina MAGNAVAL, 2022-02-10
The insurance industry is Europe's largest institutional investor, with EUR 10 trillion of assets under management, and for insurers to make appropriate investment decisions and comply with sustainability regulation it is vital that consistent, comparable, and machine-readable sustainability data is available, the recent Insurance Europe's survey says.

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Insurance Europe: updated key messages on EC proposal for EU Green Bond Standard
by Daniela GHETU, 2022-02-10
As proposed by the EC, the EU Green Bond Standard (EUGBS) can help enhance the availability of attractive sustainable assets and facilitates sovereign issuance of green bonds, the updated set of key messages on the EC's proposal published by Insurance Europe says.

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BULGARIA: ABZ: MTPL prices has increased since the mid-2021 by about 10%
by Marina MAGNAVAL, 2022-02-08
According to Konstantin VELEV, chairman of ABZ (Association of Bulgarian Insurers), "a gradual increase in MTPL prices has been observed since the mid-2021 - by about 10% compared to the beginning of last year", ABZ announced on its website.

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Czech Rep., CAP: The number of detected frauds totaled ~EUR 50 m in 2021
by Andrei Victor, 2022-02-07
The number of insurance frauds increased during 2021, according to the figures published by the Czech Insurance Association (CAP). The professional association of Czech insurers informed that during last year, it inspected a total of 11,407 suspected claim files, up by 18% y-o-y, the aggregate value of detected fraud totaling CZK 1.25 billion - or ~EUR 50 million (up by CZK 17 million or by 1% y-o-y). The average amount of detected fraud / claim file reached CZK 249 thousand (vs CZK 288 thousand in 2020).

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HUNGARY: MNB lifts the restriction on dividend payments
by Marina MAGNAVAL, 2022-02-08
The MNB (Hungarian National Bank) no longer considers it necessary to maintain the dividend payment limit for insurers. However, the dividend size must consider the Bank's recommendation to maintain the 50% volatility capital buffer, as well as the impact of the changing yield environment on capital, the MNB said in its recent statement, portfolio.hu reports.

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Romania: 24% y-o-y GWP growth in 2021; housing, health and suretyship insurance expected to be the market drivers in 2022
by Daniela GHETU, 2022-02-07
According to preliminary data provided by the Financial Supervisory Authority (ASF), the Romanian insurance market saw, in 2021, a 24% y-o-y GWP growth, to approx. EUR 2.86 billion. Non-life insurance line account for about 74% of the total market GWP.

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POLAND: The increase in life insurance premiums and claims is one of the effects of the pandemic
by Marina MAGNAVAL, 2022-02-08
The pandemic has caused an increase in both interest in life insurance and payments from this type of compensation, said Marcin TARCZYNSKI, an analyst of the Polish Chamber of Insurance, Gazeta Ubezpieczeniowa reports.

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SERBIA: The Association of Serbia Insurers to organize the traditional annual conference
by Marina MAGNAVAL, 2022-02-08
The Association of Serbian Insurers will organize a traditional annual conference together with the Association for Insurance Law of Serbia this year.

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RUSSIA: NAAI: in 2021, the agroinsurance market will reach at least RUB 9 billion
by Marina MAGNAVAL, 2022-02-07
According to the National Association of Agriculture Insurers (NAAI), in 2021, the market of subsidized agroinsurance again saw positive dynamics: GWP increased to RUB 7.7 billion (EUR 91.59 million*), of which RUB 5.5 billion came from insurance of crop risks, RUB 2.2 billion - from livestock insurance, and RUB 0.1 billion rubles - from insurance of commercial aquaculture, according to NAAI.

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Cegeka Romania announces the launch of the third edition of the Cegeka Academy program
by Daniela GHETU, 2022-02-07
Cegeka, a Belgian-based IT&C solutions provider with a strong portfolio of products oriented towards the financial institutions' needs, announces the third edition of Cegeka Academy, an educational program designed for students in their final years or master's degrees at technical faculties in Bucharest.

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AON posted robust 2021 revenue growth
by Andrei Victor, 2022-02-10
Global re-insurance broker AON posted 4% growth in Q4 2021 revenue to USD 3.08 billion and 10% growth in FY 2021 revenue to USD 12.19 billion, due to double-digit increases reported in Commercial Risks and Reinsurance Divisions.

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SCOR reports double digit increase in treaty portfolio during complex January renewals
by Andrei Victor, 2022-02-09
French reinsurer SCOR announced premium growth of 19% and an overall average price increase of 4.9% in P&C reinsurance during the "complex and prolonged" January renewal season.

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WTW reports 4% increase in 2021 revenue
by Andrei Victor, 2022-02-09
Global re/insurance broker WTW posted 2021 total revenue of USD 9 billion, an increase of 4% y-o-y as compared to USD 8.62 billion a year before. FY 2021 income from operations was USD 2.2 billion, or 24.5% of revenue, an increase from USD 859 million or 10.0% of revenue compared to the prior year. Adjusted operating income was USD 1.8 billion, or 19.9% of revenue.

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Talanx to post its first billion-euro profit in 2021
by Andrei Victor, 2022-02-10
German insurer Talanx informed its FY2021 Group net income exceeded the EUR 1 billion mark for the first time based on unaudited consolidated figures, despite historically high net claims expenses.

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Zurich Group in 2021: best results in its history
by Daniela GHETU, 2022-02-10
Zurich Insurance Group reported very strong profits for the full year 2021. Business operating profit and net income attributable to shareholders were the highest since 2007. Growth was achieved in all segments, with commercial insurance in particular benefiting from disciplined underwriting, higher prices and an increase in new business.

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STATISTICS

STATISTICS: Czech Rep., CAP: Insurers' business increased by 4.4% y-o-y during 2021 mainly due to non-life
by Andrei Victor, 2022-02-09
According to the year-end figures published by CAP (Czech Insurance Association), at the end of 2021, total GWP from the members of the association totaled CZK 147 billion (~EUR 5.92 billion), 4.4% more y-o-y or by CZK 6.1 billion.

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STATISTICS: Montenegrin market expanded to almost EUR 100 million in 2021
by Andrei Victor, 2022-02-07
The Montenegrin market reported a 5.5% y-o-y growth in FY2021 GWP, to EUR 99 million, according to the preliminary figures published on the ISA's website.

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STATISTICS: KAZAKHSTAN, FY2021: insurers' business expanded by more than 43% y-o-y (in local currency)
by Marina MAGNAVAL, 2022-02-07
At the end of 2021, the insurance sector of Kazakhstan recorded an increase of 43.42% y-o-y, to KZT 814.81 billion (EUR 1.67 billion). At the same time, insurers' paid claims fell by almost 13% to KZT 130.60 billion (EUR 267.75 million), according to data published by the National Bank.

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STATISTICS: KYRGYZSTAN, FY2021: in local currency the market decreased by almost 5.5%, while in euro the result remained at the level of 2020
by Marina MAGNAVAL, 2022-02-07
At the end of 2021, the insurance sector of Kyrgyzstan changed growth to decline (if compared to 3Q2021) and recorded a drop by 5.46% to KGS 1.26 billion (EUR 13.17 million).

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ON THE MOVE

Generali BoD approves the new composition of the Board Committees
by Andrei Victor, 2022-02-07
Last week, the Italian insurer Generali informed its Board of Directors (BoD) approved changes to the membership of the Board Committees.

Czech Insurance Association (CAP) named a new Spokesperson
by Andrei Victor, 2022-02-07
The professional association of Czech insurers announced in a statement that starting February 2022, Veronika PAVLISOVA is the new Spokesperson of CAP (Czech Insurance Association), replacing Veronika NOVA.

AXA appoints Andrew Wallace-Barnett as Chief Compliance Officer
by Andrei Victor, 2022-02-09
French insurer AXA announced the appointment of Andrew WALLACE-BARNETT, currently Head of Investor Relations, as Group Chief Compliance Officer effective September 1st, 2022. "He will succeed Ian JOHNSON who has decided to retire after a successful 30-year career in the Group".

PZU SA announced the resignation of a Management Board Member
by Andrei Victor, 2022-02-09
Polish insurer PZU SA (Powszechny Zaklad Ubezpieczen Spolka Akcyjna) informed in a statement released on its website that on 4 February 2022, that "the Company received the resignation submitted by Mr. Krzysztof SZYPULA from serving in the capacity of a PZU SA Management Board Member, effective immediately".


VIG



ERGO


EVENTS

IIF2022: Insurance in the DIGITAL World Conference
Digitalization - a glimpse into the future
24 February 2022
Online event
Organizer: XPRIMM
???????More details: internationalinsuranceforum.com


1st Congress of Actuaires du Monde
Skopje Marriott Hotel, Macedonia
31 March - 1 April, 2022
Organizers: Actuaires du Monde
Media Sponsor: XPRIMM More details: here

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

DIA Amsterdam 2022
Taets Art & Event Park.
29-30 June, 2022
Organizers: Reggy de Feniks and Roger Peverelli
Media Partner: XPRIMM Publications
For details: https://www.digitalinsuranceagenda.com


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