 TOP
NEWS |
Swiss Re shareholders approved all proposals put forward by the BoD at Swiss Re's AGM
by Andrei Victor, 2020-04-21
Swiss Re's shareholders approved all proposals put forward by the Board of Directors at its Annual General Meeting (AGM) held in Zurich last week. This included a 5% increase in the regular dividend to CHF 5.90 per share and the authorisation of a new public share buyback programme of up to CHF 1.0 billion purchase value.
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SCOR Global P&C grows premiums by 5.7% to EUR 504 million at April renewals
by Andrei Victor, 2020-04-22
French reinsurer SCOR informed that at April 1, 2020 reinsurance renewals, SCOR Global P&C GWP up for renewal by 5.7% at constant exchange rates to EUR 504 million, while benefitting from broadly improving market conditions as evidenced by a 6.6% overall increase in pricing.
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SERBIA: Car dealer British Motors increased its stake in the smallest non-life insurer in the country
by Andrei Victor, 2020-04-21
Belgrade-based British Motors, a Serbian car dealer, has increased its stake in the capital of local non-life insurer Globos osiguranje by 15.6% from 71.8% to 87.4% as a part of a buyout bid, wrote kamatika.com here.
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AZERBAIJAN: PASHA Insurance assigned 'BB+' rating, outlook stable
by Marina MAGNAVAL, 2020-04-21
S&P Global Ratings assigned its 'BB+' long-term insurer financial strength and issuer credit ratings to Azerbaijan-based PASHA Insurance, the outlook is stable, the agency said in its report.
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BELARUS: 2019 insurance reserves increased by almost 18% y-o-y
by Marina MAGNAVAL, 2020-04-23
As of January 1st, 2020, 16 insurance organizations and 30 insurance brokers were active on the insurance market of Belarus. Total number of insurers has not changed compared to 2018, according to the data of the Ministry of Finance of the Republic.
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RUSSIA: 1Q2020 paid claims of SBERBANK Life insurance for credit insurance increased by 54% y-o-y
by Marina MAGNAVAL, 2020-04-21
In January-March 2020, SBERBANK Life insurance, a subsidiary insurer of SBERBANK, paid RUB 1.8 billion (~EUR 21 million) for credit life insurance, which is 54% more y-o-y, the insurer reports.
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RUSSIA: RNRC presented a report on reinsurance contracts' renewal on the market
by Marina MAGNAVAL, 2020-04-21
According to RNRC (Russian National Reinsurance Company), renewal of disproportionate obligatory reinsurance contracts for property and technical risks in January showed that total acquired capacity decreased by 5% y-o-y to RUB 132 billion (~EUR 1.9 billion), the reinsurer reports.
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RUSSIA: affected by the decreasing economic activity - the insurance market may drop to the level it had five years ago
by Marina MAGNAVAL, 2020-04-21
According to the forecast of the Expert RA rating agency, the spread of coronavirus will significantly affect the dynamics of the insurance market in 2020 and lead to its decline in the range 17% to 27%, the agency's review says.
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RUSSIA: over RUB 120 million paid by SBERBANK Life insurance in 1Q2020 under accumulative life insurance contracts
by Marina MAGNAVAL, 2020-04-22
In 1Q2020 SBERBANK Life insurance paid over RUB 120 million (~EUR 1.4 million) under the terminated accumulative life insurance contracts. At the same time, 30% of the total number of payments were made in Moscow, which is also leading among the regions in terms of the amount paid (RUB 27 million or 23%), the insurer reports.
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UKRAINE: the largest portion in reinsurance was taken by property class in 2019
by Marina MAGNAVAL, 2020-04-21
According to the structure of risk reinsurance in Ukraine by non-residents at the end of 2019, the most premiums were paid to Germany (22.3%) and Austria (19.4%), as the data of the National Commission for Financial Service Markets Regulation of Ukraine show.
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| INSURERS ON THE COVID-19 FRONT
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EIOPA pointed out the principles to mitigate the impact of COVID-19 on the occupational pensions sector in Europe
by press.release, 2020-04-21
Last week the European Insurance and Occupational Pensions Authority - EIOPA has issued a Statement on principles to mitigate the impact of Coronavirus/COVID-19 on the occupational pensions sector.
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Covid-19: Insurance Europe calls for deferral to EU cross border tax reporting obligations
by press.release, 2020-04-23
A group of financial associations, including Insurance Europe, has written a joint letter to Commissioner Paolo Gentiloni to ask for reporting obligations relating to the EU's 2018 update of its cross border tax directive (DAC6) to be deferred until 2021, as financial institutions currently face significant implementation challenges outside of their control, including most recently the COVID-19 pandemic.
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Covid-19: UNIQA revises forecast for 2020
by Andrei Victor, 2020-04-21
Austrian insurance group UNIQA informed that based on preliminary work on the result for the first quarter of 2020, the significant negative effects of COVID-19 on the capital markets in the first quarter of 2020 will have a negative impact, above all, on the investment result of UNIQA.
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Covid-19: Sava Re estimates that the largest loss of GWP compared to the plan will be in non-life LoB
by Andrei Victor, 2020-04-21
In its SEOnet announcement "Amendment to financial calendar" of 26 March 2020, the Sava Insurance Group announced it prepared a preliminary assessment of the impacts of the circumstances related to COVID-19 on the operations of the Group and its solvency position.
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Coronavirus: HANNOVER Re withdraws the end-year profit guidance despite the announced increasing Q1 net profit
by Andrei Victor, 2020-04-22
Based on preliminary figures for the first quarter of 2020, HANNOVER Re anticipates Group net income of about EUR 300 million (Q1 2019: EUR 293.7 million) and an operating profit (EBIT) of about EUR 426 million (EUR 450.0 million).
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Coronavirus: AVIVA announced changes to manager remuneration
by Andrei Victor, 2020-04-21
In light of the significant uncertainties presented by COVID-19 and the need for continued prudence, AVIVA announced changes to the remuneration of Executive Directors and the AVIVA Leadership Team.
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Bank of Lithuania: FY2019 good results will help deal with COVID-19 challenges
by Andrei Victor, 2020-04-23
This year, the development of Lithuania's insurance market will depend on the impact of the coronavirus (COVID-19) outbreak on transport, health and unit linked life assurance. While the country's insurance market grew by almost 8% in 2019, this year its growth is expected to moderate.
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ROMANIA: Former prime minister proposes the private pensions of 7.2 million Romanians to go to a COVID-9 fund
by Andrei Victor, 2020-04-21
The party led by the former prime minister Victor PONTA, PRO Romania, proposes that starting May 1st all the money destined for one year for the Pillar II of Romanian Private Pensios System to go to a special fund dedicated for the fight against Coronavirus.
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Romanian authorities intend to suspend the MTPL contracts for carriers
by Andrei Victor, 2020-04-22
The Romanian Government and the Ministry of Transport are preparing to suspend the MTPL contrats for the unused vehicles of transport companies due the COVID-19 pandemic, informed 1asig.ro here.
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S&P does not believe that insurers' decision to suspend dividends in response to the pandemic will hurt their credit profiles
by Marina MAGNAVAL, 2020-04-21
Considering the financial impact of the coronavirus pandemic, some regulators are urging insurance companies to suspend dividends and other capital distributions and some of insurers are heeding that advice.
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TALANX withdraws its profit outlook for 2020 despite it reported Q1 net income roughly at previous year's level
by Andrei Victor, 2020-04-22
German insurer TALANX informed it withdraws the outlook for the financial year 2020 due to the "ongoing corona pandemic and the considerable uncertainty around how the economic and capital markets environment will develop".
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| On
the move |
Swiss Re Corporate Solutions appoints new Chief Financial Officer
by press.release, 2020-04-21
Swiss Re Corporate Solutions appoints Matthias Grass as Chief Financial Officer. In this role, Mr. Grass will be responsible for overseeing Swiss Re Corporate Solutions' Finance function, ensuring the business unit achieves its financial targets, and implementing the business unit's strategy.
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New members appointed in the Management Board of CROATIA Osiguranje
by Daniela GHETU, 2020-04-23
Vancho BALEN and Luka BABIC are the two new members appointed in the Management Board of Croatia Osiguranje on 19 April, effective immediately. Their mandates will last until 2022 end-year.
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Ralph van Helden appointed as Business Development Director for Everest Global Markets
by press.release, 2020-04-21
Everest Insurance announced the addition of Ralph van Helden as the Business Development Director for Everest Global Markets, which includes Everest Insurance (Ireland), DAC (EIID), and Lloyd's Syndicate 2786.
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CZECH
REPUBLIC: Miroslav SINGER appointed to Government's National economic council
dealing with economic impacts of Covid-19
by Andrei Victor, 2020-04-22
Miroslav SINGER, Director of Institutional Affairs & CEE
Chief Economist at GENERALI Holding CEE, was officially appointed as a member
of the Czech government's National Economic Council (NERV) established on April
9 to tackle the impacts of the coronavirus crisis on economy.
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| STATISTIC
UPDATES |
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STATISTICS: LATVIA, FY2019, FKTK figures: Insurers' profits almost tripled while the GWP
expanded to EUR 856 million
by Andrei Victor, 2020-04-23
During 2019, insurance companies in Latvia grossed EUR 856.73 million
in premiums, up by 13.36% against 2018, while the amount paid in
indemnities grew 35.40 % y-o-y to EUR 549.42 million, according
to the figures published by The Financial and Capital Market Commission
of Latvia (FKTK).
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STATISTICS: UKRAINE,
FY2019: life sector grew by more than 18% y-o-y
by Marina MAGNAVAL, 2020-04-23
At the end of 2019 the Ukrainian insurance market saw an increase
of 7.36% year-on-year, to UAH 53 billion, while in European currency
its growth was almost 29% thanks to a more favorable rate compared
to 2018*, to a little over EUR 2 billion threshold.
More |
| EVENTS |
Global
Insurance Forum
8 - 12 June 2020
New York, USA
Organizer: IIS - International Insurance Society
Media Partner: XPRIMM Publications
For details: events.internationalinsurance.org
Les Rendez-Vous de Septembre
12 -17 September 2020
Monte-Carlo, Monaco
For details: rvs-monte-carlo.com
9th AIDA Europe Conference
Zurich, Switzerland
17-18 September 2020
Organizer:?AIDA
Media Partner:?XPRIMM Publications
For details:?aidainsurance.org
WorldPensionSummit 2020
20-22 October 2020
Louwman Museum, The Hague, The Netherlands
Organizer:?P&I Events
Media Partner:?XPRIMM Publications
For details:?pionline.com/wps2020
Baden Baden Meetings 2020
18 - 22 October 2020
Baden Baden, Germany
For details: www.baden-baden-reinsurance.de
DIA
AMSTERDAM 2020
28-29 october, 2020
Amsterdam, The Netherlands
Organizer:?DIA
Media Partner:?XPRIMM
Publications
For details:?next.digitalinsuranceagenda.com
IIF2020 - Motor Insurance Conference
9 November 2020
Bristol Hotel, Vienna, Austria
Organizer: XPRIMM
For details: internationalinsuranceforum.com
IIF2020 - Property Insurance Conference
10 November 2020
Bristol Hotel, Vienna, Austria
Organizer: XPRIMM
For details: internationalinsuranceforum.com |
| CURRENT
XPRIMM REPORTS |
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