Insurance Newsletter No. 594, 12 May 2022
www.xprimm.com
TOP NEWS

Germany: EUR 1.7 billion paid for damages caused to vehicles from natural hazards in 2021
by Daniela GHETU, 2022-05-12
In 2021, German insurers have handled around 450,000 claims totaling EUR 1.7 billion for insured motor vehicles, General Manager of the German Insurance Association (GDV), Jorg Asmussen said in articled published by GDV's blog.

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Insurers highlight how Package Travel Directive is fit for purpose
by Daniela GHETU, 2022-05-12
Insurance Europe has published its response to a consultation by the European Commission on the Package Travel Directive (PTD), the European Federation of insurers announced.

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NORTH MACEDONIA: for the first time, over 260,000 individuals invested over MKD 2 billion in life insurance
by Marina MAGNAVAL, 2022-05-12
For the first time in the 16-year existence of life insurance, investments from individuals exceeded MKD 2 billion (EUR 32.5 million) in 2021. It is noteworthy that last year the number of people with insurance increased by 95% y-o-y, ISA (Insurance Supervision Agency) reports.

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Romania: MTPL market expanded by 122% in Q1 2022
by Andrei Victor, 2022-05-09
Romanian MTPL market continues the consolidation that began in the latter part of last year after the bankruptcy of CITY Insurance. Data reported by insurance companies and aggregated by the Financial Supervisory Authority show that in the first three months of 2022 gross written premiums (GWP) reached RON 2.47 billion, informed ASF. In Q1 2021, the Romanian MTPL market totaled RON 1.11 billion, according 1asig.ro.

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ARMENIA: ROSGOSSTRAKH Armenia holds the lead in terms of net premiums and paid claims
by Marina MAGNAVAL, 2022-05-10
ROSGOSSTRAKH Armenia holds the lead in terms of net insurance premiums, and leads in terms of net paid claims as well, according to the data of the Financial Rating of Insurance Companies of Armenia as of March 31, 2022, prepared by ArmInfo.

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AZERBAIJAN: PASHA Life maintains a leading position in the market; A-Group's quarterly growth exceeded 18%
by Marina MAGNAVAL, 2022-05-10
PASHA Life, the leading life insurer in Azerbaijan, according to the results for the first quarter of 2022, maintains growth trends and a leading position in the country's insurance market, Trend reports.

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GEORGIA: Insurance Association: transition to post-COVID period won't be easy
by Marina MAGNAVAL, 2022-05-10
Speaking about the results of the insurance market for the first quarter of 2022, the head of the Georgian Insurance Association, Devi KHECHINASHVILI, noted: "The main thing that can be said about the data for the first quarter is that we are holding on. Further, it will also be difficult, and transition to the post-COVID period will not be easy," Business Georgia wrote.

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UKRAINE: The number of insurers in Ukraine as of April 2022 amounted to 145 companies
by Marina MAGNAVAL, 2022-05-10
As of April 30, 2022, 132 non-life insurers (compared to the previous month, the number has not changed), 13 life insurers (the number has not changed) and 64 insurance brokers (the number has not changed) were operating in the non-banking market of Ukraine, Forinsurer writes.

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UZBEKISTAN: Shukhrat RASULOV appointed Acting Chairman of the Board of Uzagrosugurta
by Marina MAGNAVAL, 2022-05-10
By decision of the Supervisory Board of the insurance company Uzagrosugurta, one of the leaders in the non-life insurance market of Uzbekistan, Shukhrat RASULOV was appointed acting chairman of the board,

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TAJIKISTAN: capital and insurance reserves increased in 2021, while net income decreased by almost 18%
by Marina MAGNAVAL, 2022-05-11
Own funds (capital) of professional participants in the insurance market for 2021 amounted to TJS 320.5 million (EUR 25.25 million*), which is 47.4% more y-o-y. The National Bank in its review notes that the major part of the own funds of professional market participants is their charter capital, which increased by 91.6% in 2021.

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2022 winner of the Geneva Association Women in Insurance Award
by Daniela GHETU, 2022-05-12
The Geneva Association announced the winner of the 2022 Geneva Association Women in Insurance Award: Anne FORTIN, Executive Vice President, Direct Distribution and Chief Marketing and Communications Officer, Intact Financial Corporation (IFC).

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AXA reports Q1 revenue growth to EUR 31.3 billion
by Daniela GHETU, 2022-05-09
French re/insurance group AXA has reported revenue growth of 1% to EUR 31.3 billion in the first quarter of 2022, reflecting growth in P&C, personal lines and health and a reduction in life & savings.

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SCOR posted net loss of EUR 80 million in Q1 2022
by Andrei Victor, 2022-05-09
French reinsurer SCOR reported Net loss of EUR 80 million in Q1 2022, compared with EUR 45 million net income in Q1 2021, while the value of gross written premiums of EUR 4.72 billion in Q1 2022, was up by 9.7% compared with Q1 2021.

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Swiss Re posts Q1 net loss of USD 248 million
by Andrei Victor, 2022-05-09
Reinsurer Swiss Re reported a net loss of USD 248 million for the first quarter of 2022, compared with a net income of USD 333 million for the same period last year.

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Talanx posted double-digit growth rate in Q1 GWP
by Andrei Victor, 2022-05-09
German insurance group Talanx posted Q1 2022 GWP worth EUR 15.9 billion, up by 16.5% y-o-y. Operating profit (EBIT) rose to EUR 630 million (vs. EUR 625 million), while group net income was EUR 256 million (vs. EUR 277 million) due to a higher tax burden and was attributable in almost equal measure to the primary insurance (47%) and reinsurance (53%) areas.

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Generali becomes the majority shareholder in its Indian non-life joint venture
by Andrei Victor, 2022-05-09
Italian insurer Generali informed it completed the acquisition from Future Enterprises Limited of 25% of the shares of Future Generali India Insurance (FGII) and will now hold a stake of around 74% in FGII.

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Achmea takes over the pension company of ABN AMRO
by Andrei Victor, 2022-05-09
Achmea and ABN AMRO have reached agreement on Achmea's takeover of ABN AMRO Pensioeninstelling NV.

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Sanlam and Allianz join forces to create African insurance giant
by Andrei Victor, 2022-05-09
Sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world's leading insurers and asset managers with a century of history in Africa, have agreed to combine their current and future operations across Africa to create the largest Pan-African non-banking financial services entity on the continent

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MARKETS & TRENDS

ALLIANZ TRADE: Eurozone inflation: How bad can it get?
by Daniela GHETU, 2022-05-12
The Eurozone is facing the highest price pressures since the 1970s, a recent study released by Allianz Trade shows. Headline inflation reached 7.5% y/y in April (up from 7.4% y/y in March), with almost 60% explained by energy inflation. Europe has been hit particularly hard, given its stronger reliance on energy imports and the recent depreciation of the euro to a five-year low against the US dollar. How bad can it get?

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STATISTICS

STATISTICS: CEE FY2021: returning to and even exceeding the pre-crisis GWP level
by Daniela GHETU, 2022-05-12
Gross premiums written across the 17 insurance markets in the CEE amounted to EUR 40.82 billion in 2021, by 8.9% more than in 2020. Except for Slovakia, all markets saw a positive dynamic, in some cases even at a double-digit growth rate.

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ON THE MOVE

Supervisory Board of Allianz SE newly elected
by Andrei Victor, 2022-05-09
At the Annual General Meeting of Allianz SE held a last week, a new Supervisory Board was elected as scheduled. Rashmy Chatterjee, Chairwoman of the Board of Management of ISTARI Global Ltd, London, was elected to the Supervisory Board for the first time, while Sophie BOISSARD, Christine BOSSE, Michael DIEKMANN, Friedrich EICHINER and Herbert HAINER were re-elected.

Blanca BERRUGUETE joined AGCS as new Global Industry Solution Director for Construction
by Andrei Victor, 2022-05-09
Since May 1 2022, Blanca BERRUGUETE took over the role Global Industry Solution Director for Construction at Allianz Global Corporate & Specialty (AGCS). She joins AGCS from Zurich Insurance, and will be based in Madrid, reporting to Global Head of Distribution Jeremy SHARPE.

Fabio CLEVA appointed Head of Investor and Rating Agency Relations
by Andrei Victor, 2022-05-09
Italian group Generali announces the appointment of Fabio CLEVA as Head of Investor and Rating Agency Relations, directly reporting to the Group CFO, Cristiano BOREAN.

Karin BOS to be the new chair of Achmea's Non-life division
by Andrei Victor, 2022-05-09
Achmea has appointed Karin BOS as chair of the Non-life division from 9 May 2022. She has been Director P&C Insurance Retail in the division since 2016. Karin BOS succeeds Michiel DELFOS, who recently joined Achmea's Executive Board.


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EVENTS

9th AIDA Europe Conference
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18-20 May 2022
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FIAR - THE INTERNATIONAL INSURANCE-REINSURANCE FORUM
23rd Edition 22 - 24 May 2022 Sheraton Hotel Bucharest, Romania
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Prague, Czech Republic 2 June 2022,
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MAA Webinars: Estimating claim liabilities in the North Macedonian market Organizers:
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Sessions:
2 June 2022, 14:00 CET until 17:30 CET
22 June 2022, 14:00 CET until 17:30 CET
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Taets Art & Event Park.
29-30 June, 2022
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WorldPensionSummit 2022
Location: Louwman Museum, The Hague, The Netherlands & Virtual 2-4 November 2022 Media Partner: XPRIMM Publications For details: www.pionline.com/wps2022


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