PZU Group ended the first quarter of 2020 with a consolidated net result of PLN 116 million, 84.5% lower year-on-year. The net profit registered by the group excluding Alior Bank and Pekao reached PLN 577 million (-13.3%).
For the 500th
time, XPRIMM News
lands today, as every Thursday, on your screens with the latest news and statistics that illustrate the trends and evolutions of the insurance markets in the CEE, SEE and CIS regions.
The regional CEE insurance market ended 2019 with a 5.85% increase in GWP, to EUR 39.1 billion. The reversed trend recorded by the Polish market, as well as improved dynamic in a few of other bigger markets have led to the overall higher y-o-y growth in 2019 as compared with the 2018/2017 change.
The current legislation of the Ukrainian insurance market leaves it far behind when compared to other European countries. Its insurance penetration degree is roughly around 1.3%, while in Europe the average sits at a solid 5%. At the same time, the Ukrainian market saw a stable annual growth of about 20% in the latest years, according to the Lexology portal.
The 2020 pandemic affected all sectors of Moldovan economy, including the insurance sector. Total number of new insurance contracts has decreased dramatically in the past months, a sharp decline being noticed in segments such as voluntary insurance and Green Card, CapitalMarket reports.
In 2019, the insurance market of Kazakhstan saw rapid growth
, supported by life segment, mandatory products, and development of electronic policies for mandatory motor insurance. But, despite its impressive development during the past decade, it is yet to reach maturity, one of the latest AM Best's report
Zurich Insurance Group (Zurich) announced an increase of USD 200 million to the USD 200 million 2.3% senior unsecured notes due 2030, issued on February 25, 2020 by Zurich Holding Company of America, Inc., bringing the total issue size to USD 400 million.
The regulator's plan to improve the market situation may result in closure of several insurance companies. The Central Bank recently announced the cancellation of the license of Standard Insurance company
, while several other insurers may be closed as well, based on the regulator's improvement plan, Trend informed.
In the first quarter of 2020, according to the preliminary data reported by the company, the GWP of SBERBANK Insurance amounted to RUB 5.3 billion (~EUR 61.81 million), which reflects an increase of 33% y-o-y.
In the first quarter of 2020, the total number of concluded MTPL contracts reached almost 1.8 million units, which represents an increase of 0.5% y-o-y. At the same time, the corresponding GWP amounted to UAH 1.3 billion (~EUR 43 million, +20% y-o-y), as the Motor (Transport) Insurance Bureau (MTIBU) reports.
Johann STROBL, CEO of RAIFFEISEN Bank International AG (RBI), was elected to the Supervisory Board of UNIQA Insurance Group AG by the Annual General Meeting. He was proposed to replace Erwin HAMESEDER, who left UNIQA's Supervisory Board at the end of the Annual General Meeting on 25 May 2020. Click here
to read more.
Carlos GONZALEZ-PERANDONES, currently Chief Sales Officer (CSO) of Nationale-Nederlanden Spain, has been appointed Chief Executive Officer of Nationale-Nederlanden Spain, effective 1 June: "This follows Cornelia COMAN's decision to leave NN Group to pursue opportunities outside our company".
On the second anniversary of the introduction of the EU General Data Protection Regulation (GDPR), Insurance Europe has published an insight briefing
setting out its views on the Regulation ahead of the European Commission's upcoming review.
Global re/insurance broker Aon announced it has promoted Steve PETREVSKI as Senior Vice President and General Manager of Data & Analytic Services to drive its growth strategy through new capabilities that leverage emerging technologies for digital businesses and accelerate foundational Data and Analytic Services capabilities. PETREVSKI will report to John Bruno, CEO of Data & Analytic Services and COO of Aon.
AVIVA plc announced the appointment of George CULMER as Non-Executive Chairman with effect from the 27th May 2020, following the AVIVA AGM.
UNIQA Group ended the first three months of 2020 with a consolidated net result of EUR -13.2 million, COVID-19-related market effects forcing UNIQA to report a negative quarterly result for the first time since 2011 euro crisis. The result compares to an EUR 32.2 million net profit in the first quarter of 2019.
Damir HADZIC, President of the Management Board of Euroherc osiguranje dd Sarajevo, was reelected as President of the Management Board of the Association of Insurance Companies in the Federation of BiH (UDO FBiH) for the 2020-2024 term.
TUW PZUW, the mutual insurer established by the PZU Group in 2016, ended 2019 with written premiums worth PLN 690 million while doubling its net profit and technical result as compared with 2018 and reaching a 31% market share on the mutual insurance market in Poland.
For the first three months of 2020, Generali Group recorded a net profit of EUR 113 million, 84.8% lower year-on-year. The group's operating result reached EUR 1,448 million, up 7.6%, driven by P&C and Asset Management growths.
At the end of 2019 the SEE insurance market
(the region formed by Cyprus, Greece and Turkey) totaled about EUR 15.3 billion in terms of GWP, 12.5% more y-o-y, according to preliminary figures centralized by XPRIMM.