Insurance Newsletter No. 584, 03 March 2022
www.xprimm.com
TOP NEWS

European insurers react to IPCC report: Adaptation is crucial to ensure climate resilience
by Daniela GHETU, 2022-03-03
"Insurance Europe fully supports the need for a very strong focus on adaptation, as suggested by the IPCC in its latest report, Nicolas Jeanmart, Head Of Personal And General Insurance at Insurance Europe, said following the publication of the Intergovernmental Panel on Climate Change (IPCC) report Climate Change 2022: Impacts, Adaptation and Vulnerability.

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Kosovo insurers profits more than doubled
by Andrei Victor, 2022-03-03
Kosovo insurers reported FY2021 aggregate net profit of EUR 8.7 million, more than double as compared to a year earlier when the same indicator was EUR 4.1 million, Central Bank monthly figures showed.

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Bosnia and Herzegovina: in 2021 net profit of Triglav Osiguranje rose 1.2%
by Marina MAGNAVAL, 2022-03-02
Bosnian insurer Triglav Osiguranje, part of Slovenia's Triglav Group, announced that in 2021 its net profit rose 1.2% y-o-y to BAM 2.5 million (EUR 1.3 million), SeeNews reports.

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NORTH MACEDONIA: non-life insurance market grew by 16% in 2021
by Marina MAGNAVAL, 2022-03-02
In 2021 the number of concluded non-life insurance contracts reached 1.5 million units, which is 30% more than in 2020. Growth was observed in 15 insurance classes, and the most significant was the increased demand for travel insurance, property insurance, private health insurance, according to the Insurance Supervision Agency (ISA).

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Eurohold 2021: EIG accounted for 62% of the group's revenues, while energy subsidiaries ~32%
by Andrei Victor, 2022-03-03
Eurohold -the largest public Bulgarian holding and one of the largest financial and energy groups in Southeast Europe announced record results for 2021. "Eurohold Bulgaria AD, reached all-time highs in 2021, while the group's profitability increased significantly", as the financial holding informed in a statement.

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Adris grupa: CO achieved double-digit FY 2021 net profit growth
by Andrei Victor, 2022-03-03
Croatian conglomerate ADRIS Grupa with business in tourism, food production and insurance (Croatia osiguranje) reported total revenue of HRK 5.73 billion in 2021 (EUR 762 million), which is 20% more compared to the previous year. Consolidated earnings before interest, tax depreciation and amortisation (EBITDA) amount to HRK 1.02 billion, which is 5% less than the figure achieved in pre-pandemic 2019. Net earnings in 2021 amount to HRK 403 million.

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UNIQA: Preliminary earnings for 2021 exceed expectations
by Andrei Victor, 2022-02-28
Austrian insurance group UNIQA informed its preliminary earnings for 2021 exceeds expectations. Thus, according to the figures, 2021 earnings before taxes increased almost sevenfold to EUR 382.3 million (2020: EUR 57.1 million), well above the increased target of EUR 330 million to EUR 350 million.

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Swiss Re posted FY2021 net income of USD 1.4 bn and announces ambitious new financial targets
by Andrei Victor, 2022-02-28
Swiss Re reported a net income of USD 1.4 billion and an ROE of 5.7% for 2021, considerably rebounding from a net loss of USD 878 million in 2020. The reinsurer mentioned it continued to grow all its businesses, increasing net premiums earned and fee income for the Group by 4.8% compared with the previous year to USD 42.7 billion in 2021.

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SCOR posted 2021 net income of EUR 456 m and proposes a dividend of EUR 1.80 per share
by Andrei Victor, 2022-02-28
French reinsurer SCOR posted 2021 gross written premiums of EUR 17,600 million, up by 9.8% at constant exchange rates compared with 2020, as the company informed in a statement announcing that SCOR SE's BoD met on February 23, 2022 and approved the Group's 2021 financial statements.

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CCN Group reported double digit revenue growth in 2021 and forecasts solid performance for 2022
by Andrei Victor, 2022-02-28
After a very challenging 2020, extremely impacted by the COVID pandemics, in 2021 CCN Group returned on a growth path, as the company informed in a statement.

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AXA 2021 revenues increased 6% y-o-y to almost EUR 100 bn
by Andrei Victor, 2022-03-03
French insurer AXA has reported a 6% rise y-o-y in FY 2021 revenue to EUR 99.93 billion, supported by growth on all operations.Thus, in P&C, AXA has reported revenue expansion of 3% y-o-y to EUR 49.3 billion. In commercial lines, revenue increased by 5% to EUR 32.7 billion mainly driven by AXA XL (+3%), mostly from continued favorable price effects (+10%), while Personal lines revenues increased by 1% y-o-y to EUR 16.6 billion, with higher revenues in non-Motor LoBs.

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Hannover Re transferred over USD 2.7 bn in CAT bonds in 2021 and expects record volume on the ILS market for 2022
by Andrei Victor, 2022-02-28
In 2021, German reinsurer Hannover Re announced it transferred altogether 11 catastrophe bonds with a record volume of USD 2.7 billion (previous year: USD 1.6 billion) to the capital market for its clients, "and thereby extended its leading position in the insurance-linked securities (ILS) market".

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UKRAINE: supervisor and market players discussed measures to preserve the insurance business during martial law
by Marina MAGNAVAL, 2022-03-01
The National Bank of Ukraine (NBU) held an urgent meeting with representatives of the insurance market on the issue of complying with obligations to customers and maintaining the insurance business during martial law, MTIBU (Motor Transport Insurance Bureau of Ukraine) said in its press-release.

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Polish and Slovak motor insurers offer free 30 days MTPL insurance coverage for Ukrainian refugees travelling by car
by Daniela GHETU, 2022-03-03
Several Polish insurers have joined an initiative to help Ukrainian refugees travelling by car in Poland: free 30-day insurance coverage for vehicle owners who enter Poland with cars with Ukrainian registration numbers is available free from Allianz, ERGO Hestia, PZU and Warta.

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Allianz to provide up to EUR 12.5 million of humanitarian assistance
by Daniela GHETU, 2022-03-02
Allianz SE announced that it would make available EUR 10 million to support humanitarian efforts in light of the invasion of Ukraine along with up to EUR 2.5 million to match employee donations.

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Zurich Insurance Group stands by the people of Ukraine by its Z Zurich Foundation
by Daniela GHETU, 2022-03-02
Zurich Insurance Group stated that it condemns the Russian government's aggression towards Ukraine, the human suffering that it is inflicting and the broader threat that it poses to democracy and freedom in the region.

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VIG and Uniqa come to the aid of their Ukrainian employees who had to seek refugee abroad
by Daniela GHETU, 2022-03-03
Vienna Insurance Group (VIG) has set up proactively a VIG Family Fund with EUR 5 million as a basis to which its management has invited all VIG Group companies and employees to contribute. The goal of the fund is to support directly affected families of VIG's Ukrainian companies. A VIG Holding committee together with local committees will be set up to distribute targeted support under the personal leadership of Harald Riener, VIG Managing Board member responsible for Ukraine.

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Aon acquired actuarial software platform Tyche
by Andrei Victor, 2022-03-03
Re/insurance broker Aon announced it has acquired actuarial software platform Tyche from technology and software firm RPC Tyche. "The transaction significantly expands Aon's existing capabilities to help re/insurer clients rethink access to capital and make better business decisions".

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TOP EVENT

Inclusive Insurance Regulatory Landscape in the CEET region on the agenda of the First Congress of Actuaires du Monde
by XPRIMM, 2022-03-03
Key to enabling inclusive insurance markets to grow in the CEET region is policy actions on the supply and demand side, is one of the findings of a recent survey jointly conducted by Access to Insurance Initiative (a2ii) and Insurance Supervision Agency of Slovenia among representatives of CEET insurance supervisory authorities.

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STATISTICS

STATISTICS: Bosnian insurers business increased by 8.19% in 2021
by Andrei Victor, 2022-03-03
At the end of 2021 the BiH insurance market totaled EUR 418.44 million (BAM 818.40 million), 8.19% more y-o-y, according to the YE 2021 market figures published by the local insurance agency - AZOBIH.

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STATISTICS: Kosovo insurers ended 2021 with double digit increases in GWP and claims
by Andrei Victor, 2022-03-03
Kosovo insurers posted double digit increase in 2021 business, as official yea-end figures published on the website of the Central Bank showed. Overall, the aggregate value of GWP increased to EUR 119.23 million, up by 17.44% y-o-y from EUR 101.52 million at the end of December 2020.

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ON THE MOVE

Swiss Re: Paul MURRAY appointed CEO Reinsurance Asia and Regional President
by Andrei Victor, 2022-02-28
Global reinsurer Swiss Re announced that Paul MURRAY has been appointed CEO Reinsurance Asia, Regional President and member of the Group Executive Committee, effective 1 April 2022.

Lloyd's announces Des Potter as special advisor
by Andrei Victor, 2022-03-03
Lloyd's of London has announced that Des POTTER, formerly of Guy Carpenter has been appointed as a special advisor to Lloyd's CFO and COO Burkhard KEESE focused on enhancing Lloyd's capital framework and the instruments available to investors to support underwriting at Lloyd's.

Lloyd's appointed Sara GOMEZ as Chief People Officer
by Andrei Victor, 2022-03-03
Lloyd's of London announced the appointment of Sara GOMEZ as Chief People Officer (CPO) with immediate effect.

MetLife names regional Chief Information Officers
by Andrei Victor, 2022-03-03
MetLife announced that Siew CHOO SOH and Giovanni GENOVESI will join MetLife as Chief Information Officers (CIO) for Asia and Latin America, respectively.


VIG

ERGO


EVENTS

Motor Insurance Conference
14 March 2022
Online event
Organizer: XPRIMM


Property Insurance Conference
21 March 2022
Online event
Organizer: XPRIMM


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


DIA - Next Level Insurance Innovation in the Age of Data
Location: Online
Starting date: 26 April 2022
Organizers: DIA & the University of St.Gallen's Institute of Insurance Economics
Media Partner: XPRIMM Publications
For details: digitalinsuranceagenda.com


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


FIAR - THE INTERNATIONAL INSURANCE-REINSURANCE FORUM
23rd Edition
22 - 24 May 2022
Sheraton Hotel
Bucharest, Romania


MAA Webinars: Estimating claim liabilities in the North Macedonian market Organizers:
Macedonian Actuarial Association
Association Actuaires du Monde
Sessions:
24 March 2022, 14:00 CET until 17:30 CET
21 April 2022, 14:00 CET until 17:30 CET
11 May 2022, 14:00 CET until 17:30 CET
2 June 2022, 14:00 CET until 17:30 CET
22 June 2022, 14:00 CET until 17:30 CET
More details here


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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