Andreas Brandstätter, CEO of the UNIQA Group, was elected President of Insurance Europe, the Central European Insurance and Reinsurance Association at the General Assembly of this body in Madrid.
Brandstätter, entrusted with the three-year mandate, pointed out that under-represented pension and insurance against natural disasters would lead to the inability of national governments to provide funds for pensions and compensation for damages. Another key challenge for insurers and governments in Europe will be protection from cyber risks. “Due to accelerated demographic growth and life expectancy, it is expected that the deficit for the payment of pensions in state ticket offices around the world will soon amount to an incredible 59 trillion euros. On the other hand, due to non-insurance from natural disasters, only one third of the 280 billion euros in damages caused by these natural disasters was paid last year. Therefore, insufficiently represented insurance in these segments is a huge risk to local economies and a huge burden on our children and grandchildren” Brandstätter said, adding that one of the most important issues during his mandate will be global consumer protection and security of insured data, as the priority of the digital era.