Insurance statistics & news - CEE, Russia & CIS, SEE

Login  
HomeNewsCEE StatisticsCIS StatisticsCountry profilesPrint editionsInterviewsEventsUseful linksContactAbout us
 Overall market data   Regional rankings   Re/Insurance groups   Submit your query   Analysis 


OUR PRODUCTS














1 EUR - 7.5165 HRK
1 EUR - 27.021 CZK
1 EUR - 309.09 HUF
1 EUR - 4.3699 PLN
1 EUR - 4.4940 RON
1 EUR - 63.6075 RUB

Insurance

OCTO Telematics joins the exquisite IIF 2017 team of speakers which will analyze the motor insurance trends
Telematics are definitely improving the motor insurance bottom line, both through the self-selection effects on customer acquisition and material savings related to claims settlement. In addition, it provides the benefit of introducing value-added services around the driver journey, establishing a new type of relation between insurers and their customers, with positive effects on customers' loyalty.(19.01.2017)
STATISTICS: ROMANIA, 3Q2016: Double digit GWP growth supported by the raising MTPL tariffs
The Romanian insurance market ended the first three quarters of 2016 with GWP amounting to EUR 1.53 billion, 10.6% up y-o-y, supported by the significant increase in the MTPL prices recorded in the first part of the year.(19.01.2017)
Italy hit again by earthquakes; 30 possible victims in a hotel buried by an quake-triggered avalanche
Four earthquakes of over 5 degrees Richer magnitude hit Central Italy in less than four hours Wednesday morning, followed by tens of aftershocks, once again affecting the same mountainous region deadly struck by tremors in August and October 2016. The earthquakes were string enough to be felt in Rome, as well as in the regions of Toscana, Campania and Emilia.(19.01.2017)
Aon Benfield: Earthquake and severe weather — combined for 70% of all economic losses in 2016
Aon Benfield's catastrophe model development team has launched its 2016 Annual Global Climate and Catastrophe Report, which evaluates the impact of the natural disaster events that occurred worldwide during the last 12 months to promote awareness and enhance resilience. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc.(19.01.2017)
DONNET, GENERALI: 2017 it's not going to be easy, but may be better than 2016
"2017 will look very close to 2016. For basic reasons, we are still going to face a low interest rate environment and the regulation is going to be tough again," Italian GENERALI's CEO, Philippe DONNET, has stated in a recent interview with CNBC on the occasion of the World Economic Forum 2017.(19.01.2017)

STATISTICS: Czech Rep., 3Q2016: The decreases in life insurance pushed down the aggregate figure
At the end the third quarter of 2016, the Czech Rep. insurance market totaled CZK 111.6 billion (EUR 4.1 billion), 3.7% less y-o-y, according to the market statistics published on the Czech National Bank website. If the life insurance segment reported an 8% y-o-y decrease (to EUR 1.6 billion), the non-life insurance maintained at about the 3Q2015 level: GWP of EUR 2.5 billion.(19.01.2017)
Romanian MTPL subsegment supported the EIG's business positive trend
Bulgarian-based EUROINS Insurance Group (EIG) reported preliminary GWP of EUR 268 million during 2016, 16% more y-o-y, according to a press release published by its owner, the financial holding EUROHOLD.
(19.01.2017)
Croatia: MTPL market's liberalization has brought a larger product diversification, believes the Competition Agency
Croatian passenger cars owners have benefitted from the MTPL market liberalization, as well as from the products diversification, has found a recent survey performed by the local Competition Agency. According to the survey's conclusions, the market is "competitive and well structured" and consumers currently have a better choice than in the past years.(19.01.2017)
EULER HERMES appoints Kamelia POPOVA as Country Manager for Bulgaria
​The German trade credit insurer EULER HERMES announced it has appointed Kamelia POPOVA as Country Manager for Bulgaria, reporting to Ed GOOS, EULER HERMES CEO of Central & Eastern European Countries.(19.01.2017)
BIBA pleads for a sectoral Brexit solution and no further increases of the Insurance Premium Tax and supervision costs
The British Insurance Brokers' Association (BIBA) has called for the government to commit to no further increases to Insurance Premium Tax (IPT) and to negotiate for single market access in the EU exit. BIBA has also called for the Financial Conduct Authority (FCA) to prioritise cost-effective supervision following a 70% increase in regulation costs for small insurance brokers, reads the latest association's press release.(18.01.2017)
Insurance Europe: Successful conclusion of EU-US bilateral agreement on (re)insurance welcomed
Following the successful conclusion of the bilateral agreement on (re)insurance between the EU and the US in January 2017, Cristina MIHAI, head of prudential regulation and international affairs at Insurance Europe, said:
"Insurance Europe welcomes the recent conclusion of the bilateral agreement on (re)insurance between the EU and the US, and supports the provisions foreseeing the removal of the discriminatory collateral requirements that EU reinsurers were subject to when placing business in the US. Insurance Europe has been very supportive of the EU-US regulatory dialogue and the negotiations of a bilateral agreement on (re)insurance led by the European Commission, and believes the recent conclusion demonstrates the strength of the relationship between the EU and the US.
(18.01.2017)
FITCH: Abolishing collateral will aid transatlantic reinsurance
Abolishing regulatory requirements for EU and US reinsurers to post collateral for their transatlantic business is the most significant element of the recent bilateral EU-US agreement on insurance supervision, says Fitch Ratings in a press statement released on January 17th.(18.01.2017)
A.M. Best Assigns Credit Ratings to PASHA Insurance OJSC
On January 17, A.M. Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" to the Azeri PASHA Insurance OJSC (PASHA Insurance). The outlook assigned to these Credit Ratings (ratings) is stable. PASHA Insurance is a wholly owned subsidiary of PASHA Holding LLC, a diversified group also based in Azerbaijan.(18.01.2017)
Miroslav SINGER - former Governor of Czech National Bank to join GENERALI Group
Miroslav SINGER (48), former Governor of Czech National Bank (CNB), has been appointed as Director for Institutional Affairs and Chief Economist of GENERALI CEE Holding with effect from 16 January 2017. He will also join the Supervisory Board of Czech market leader Ceska pojistovna - a GENERALI Group company - to become its chairman.(18.01.2017)
SCOR announces several appointments in the top level management team
French reinsurer SCOR announced on January 16, several appointments to Group's top management functions, with immediate effect.(18.01.2017)

Interviews

Michael J. MORRISSEY
President and CEO
IIS - International Insurance Society

Young buyers don't care if the insurance company has been in business for a hundred years. They don't care if the company has a multibillion dollar balance sheet or not. They are spoiled by an entirely different level of customer experience. People who buy products from Apple or people who go to Starbucks have a different expectation of what they get for the money they spend. They want something different, they want something better. And it's hard for legacy companies to adjust. It's hard from the change of computer systems, it's hard from the change of their attitudes ... but however, traditional carriers will have to adjust in the future so it is tough for legacy companies.(20.12.2016)
Assen CHRISTOV
Chairman of the Supervisory Board
EUROHOLD - the majority shareholder of EUROINS Insurance Group

EUROINS Insurance Group operates in 7 European countries and is a well-recognized brand in 4 of them: Bulgaria, Romania, Macedonia and the Ukraine. Our market share in Romania is almost 15%, in Bulgaria - about 7% and in Macedonia - 9%. As part of its international growth, EIG will expand its operations further within the CEE and SEE countries and continue to consolidate its position in the region and to develop itself as the leading independent insurance group in the region.(15.12.2016)
Valter TREVISANI
Group Chief Insurance Officer & Group Management Committee
GENERALI

We work in a business which is arguably one of the more exciting ones at this moment in time. It really does have everything to play for and is in the midst of some pretty fundamental changes.
Telematics has been and will continue to be a game-changer. This trend is now expanding with demotics, which is capturing the so-called 'Internet of Things' within home connectivity. It's an interesting area in rapid development.(08.12.2016)
Adrian MARIN
CEO
Generali Romania

Our strategy remains unchanged - we want to focus our efforts on the non-motor segment, which ensures our stability, and we want to increase the retail business in our portfolio. However, in a market dominated by motor insurance, you must also take this segment into account. Generali Romania is growing on motor while carefully monitoring profitability indicators.(24.11.2016)
Igor YURGENS
President, All-Russian Insurance Association (ARIA)
President, Russian Association of Motor Insurers (RAMI)

Most probably, the Russian insurance market will increase by 5-7% in 2016. The main market drivers for 2016 will be the non-credit life insurance and MTPL. Compared with the results of the 1st quarter of 2016 there was a slight revival of corporate property insurance segments, accident and liability insurance. But in fact all business segments, except for life insurance and MTPL, begin to stagnate and probably soon will move into a phase of recession.(17.11.2016)

Kaan ACUN
Deputy General Manager
MILLI Re

Turkish market remains to be our major operating market and MILLI Re aims to continue its leadership of the market. On the other hand, as part of the strategy of transforming from a local reinsurance leader into an international player, MILLI Re has actively engaged in accepting business from emerging markets including Middle East, Asia, Northern and Continental Africa, CIS and Eastern Europe as well as from some developed markets such as Continental Europe and Lloyd's(17.11.2016)
Enkeleda SHEHI
Executive General Director
Albanian FSA

The MTPL market still hasn't reached the equilibrium point as it is expected a rise in the gross premium volume during the next years. This rise can be driven by many factors such as: the number of uninsured cars, which is still high, the difference of average premium between Albania and the region, the collaboration of AFSA with the universities in promoting the insurance sector.(10.11.2016)
Javier San BASILIO
Regional Manager for Europe
MAPFRE

Client orientation is one of the strategic key elements for us. We have launched a series of internal initiatives that place the interests and needs of the client in the centre of all our activities. In addition, we have to be more flexible in the way we adapt our own organization to special client segments. Operational excellence and efficiency are other key elements in this respect.(03.11.2016)
Tadej COROLI
Member of the Management Board
Zavarovalnica TRIGLAV

It is highly likely that in some markets the insurance sector will have to be further consolidated, since the present structure is too fragmented. As a consequence of the already implemented and the upcoming legislative changes in the medium term, a certain impact can be expected on the ability of the insurance industry as a whole, and especially of some individual players in terms of underwriting.(27.10.2016)
Nikolay GALUSHIN
President
The National Reinsurance Company (NRC), Russia

The Russian Federation has created its own specialized reinsurer - the National Reinsurance Company (NRC), effectively from October 12th, 2016. The main goals of the company are to offer additional capacity for the Russian market (including sanctioned risks) and also to cover Nat Cat perils for consumers. The law stipulates also that local insurers/reinsurers must offer 10% quota of the risks to the NRC.(20.10.2016)

Press Cuttings

POLISH insurer PZU considering EUR 500 mln bond issue
Poland's largest insurer, PZU SA, is considering a 500 million euro Eurobond issue to bolster its capital buffers following its acquisition of UniCredit's Polish unit, its CEO said.(18.01.2017)
UKRAINE: French company has no intention of selling AXA Insurance
French AXA will not sell AXA Insurance, subsidiary insurance company. It was reported by the company's CEO Philippe Wautelet during the interview to Novoye Vremia.(17.01.2017)
RUSSIAN Central Bank revokes almost hundred licenses in 2016
In 2016, the Central Bank of Russia has revoked 97 licenses of banks, 17 licenses of non-state pension funds, 69 licenses of insurance companies and 32 license of management companies, the chief auditor of the Central Bank Valery Goregliad said at the Gaidar Forum.(17.01.2017)
GREEK turnaround adds sheen to NBG's insurance asset sale
An unexpected uptick in the outlook for the Greek economy should boost buyer demand for National Bank of Greece SA subsidiary Ethniki Hellenic General Insurance Co. SA, while the gradual removal of the social safety net should provide a stream of clients for its products over the longer term, analysts told S&P Global Market Intelligence.(17.01.2017)
AZERBAIJANI insurance company increases payment of claims
Azerbaijan's PASHA Life insurance company collected 77.68 million manats in premiums in 2016 that is by 42.5 percent more than in 2015, the company said in a message.(17.01.2017)

SERBIAN Competition Commission closes the year boldly
On 25 December 2016, the Commission published a report on the Serbian insurance market, and announced its plan to draft an Insurance Block Exemption Regulation ("IBER"). Except where the specifics of the Serbian insurance market require otherwise, the regulation will be harmonized with the EU Block Exemption Regulation for the Insurance Sector.
(12.01.2017)
CZECH REPUBLIC: New Obligations for Large Companies
In accordance with the EU directive 2014/95/EU, business corporations with more than 500 employees that qualify as large undertakings and public-interest entities as defined by the Czech act on accounting (these include, for instance, banks, insurance companies or large companies with securities admitted to trading on an-EU regulated market) are subject to so-called non-financial reporting starting January 1, 2017.(12.01.2017)
AXA has completed the sale of its UK P&C commercial broker Bluefin to Marsh
AXA announced today that it had completed the sale of Bluefin Insurance Group Ltd ("Bluefin"), its P&C commercial broker in the UK, to Marsh. AXA recorded an exceptional negative impact of Euro 82 million, which will be accounted for in 2016 Net Income.(09.01.2017)
AZERBAIJAN: Audatex and Compulsory Insurers Bureau resume talks on sale of equity stakes
Insurance appraiser Audatex-Azerbaijan is entering a new stage of negotiations with the Compulsory Insurers Bureau for the purpose of selling equity stake of 5%.
(09.01.2017)
SLOVENIA: S&P revises outlook on SID Bank to positive, affirms A/A-1 ratings
Standard & Poor's  said it has revised its outlook on Slovenia-based SID Bank (Slovene Export and Development Bank) to positive from stable, while affirming the bank's 'A/A-1' long- and short-term issuer credit ratings.(09.01.2017)
Baltic insurance market to continue consolidation trend in 2017
The year 2016 saw a strong consolidation trend in the insurance sector in the EMEA region and Latvia was no exception. Vienna Insurance Group AG acquired Baltikums and BTA Baltic Insurance Company in a deal which is said to have contributed to the stability and sustainability of the insurance industry in the country.
(09.01.2017)
RUSSIA: insurance market may grow by 30%
The Russian insurance market may grow by more than 30% by the end of 2016, the National Union of agricultural insurers (NSA).(09.01.2017)
MACEDONIA: Insurance Market Grows by 4 Percent
The insurance market in Macedonia grew by about 4 percent in 2016, a rate that is lower than expected due to the tense political situation, the Macedonian Chamber of Commerce (SKM) informed on Monday. Klime Poposki, from the Insurance Supervision Agency said that there was a growth in accident insurance of 9.31 percent, while gross property insurance premiums dropped by 7.98 percent, while the number of contracts increased.
(09.01.2017)
ARMENIA: INGO Armenia to offer new products to its clients in 2017
INGO Armenia insurance company will improve the quality of its services and will offer new products to its clients, Arevshat Meliksetyan, executive director of the company, told journalists on Wednesday.(09.01.2017)
ARMENIA: No consolidations expected in insurance in 2017
Arevshat Meliksetyan, executive director of INGO Armenia, told journalists on Wednesday, that he expected no consolidations in Armenia's insurance sector in 2017.(09.01.2017)
LATVIA: Swedbank : expert expects growth in car, housing insurance
There is a reason to expect growth in the numbers of insured cars and homes in the Latvian market, said Dzintars Kalnins, Head of Non-life Insurance Support Division at Swedbank.(09.01.2017)
AZERBAIJAN: Licenses of 3 insurance companies revoked
Azerbaijan's Financial Market Supervisory Authority has revoked licenses of three insurance companies - the International Insurance Company, Azerqarant Insurance and Buta Insurance, the company said in a message Dec. 30.(09.01.2017)
SLOVAKIA: KBC interested in banking opportunities
Belgian banking and insurance group KBC is interested in looking for acquisition opportunities in Slovakia, in line with its plan to expand in its core markets in central Europe, KBC Group Chief Executive Johan Thijs said on Wednesday.(09.01.2017)
GREECE's NBG likely to sell its insurance unit this year
National Bank of Greece (NBG) expects to sell its subsidiary National Insurance this year and plans other sales as part of its restructuring, its chief executive said on Wednesday.(09.01.2017)
AZERBAIJAN: PASHA Bank to enter SME market
VTB Bank (Azerbaijan) expanded preferential ATMs network by signing partnership agreement with PASHA Bank. Now banks won't charge fees for cash withdrawals at their ATMs from clients of the partner banks.(09.01.2017)

Baden Baden

Baden Baden Highlights
As another edition of Baden Baden Reinsurance Meeting closes its gates, the re/insurance world had its eyes on the German town, where the current trends and future expectations of the industry are being the focal points of the discussions.(26.10.2016)
VIDEO: Re/insurance professionals from all over the world gathered at the Baden-Baden XPRIMM Reception
On Sunday, 23 October, over 230 insurers and reinsurers from all over the world met at the 8th edition of the Baden-Baden XPRIMM Reception, the traditional event organized by XPRIMM during the Baden-Baden Meetings.(21.10.2016)
Who were the winners of the XPRIMM international award for outstanding contribution?
SWISS RE, JLT Re, TRUST Re, and CERTASIG were the winners of the 2016 XPRIMM Award for outstanding contribution to the development and evolution of the insurance and reinsurance market. The awards were given during the XPRIMM Insurance Awards Ceremony organized within the Baden-Baden XPRIMM Reception 2016.(21.10.2016)
VIDEO: Business opportunities in Azerbaijan, under the spotlight at Baden-Baden AZERI Evening
An exquisite atmosphere, experience changes between re/insurance specialists and valuable business networking opportunities were key elements of the 5th edition of the AZERI Evening in Baden-Baden, the event which took place on Sunday, 23 October, at the Casino Restaurant Sommergarten.(21.10.2016)
Seven new XPRIMM titles, launched at the Baden-Baden Meeting 2016
Seven new titles of the well-known XPRIMM Publications are available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in the main business meeting points. The specialized magazines present the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.(21.10.2016)

MAPFRE: Driving assistance and autonomous driving shift liability from individual drivers to manufacturers or fleet managers
The growing use of technology to collect data and improve risk assessment will transfer business from retail insurers to commercial insurance providers. This will be a process that will bring benefits reinsurers, according to MAPFRE.(25.10.2016)
Big data, key part of innovation processes at Munich Re
Digitalisation and new technologies mean that far greater volumes of data are becoming available for evaluation within a much shorter time frame. Data analysis can be used to examine client portfolios to reveal trends, improve processes, optimise holdings, and provide targeted support to sales. The more global and comprehensive the data basis, the more valuable the data will be. The new dimensions of data and their analysis require some competences that not all insurance companies have. New competitors may be able to analyse data sets more quickly and apply the results in new applications - thus placing traditional insurers under pressure.(25.10.2016)
Baden-Baden meetings to focus on the protection gap
It was a year of turbulences, including "Le Brexit", Nick FRANKLAND, CEO for EMEA of GUY Carpenter stated in the opening remarks of his speech at the Baden-Baden Reinsurance Symposium on Sunday 23 October 2016. The company organized the event for the 8th year in a row and focused this time around on the topics of Bridging the gap and underinsurance.(24.10.2016)

Monte Carlo

Monte Carlo hot topics
As the 60th edition of Les Rendez Vous de Septembre closed its gates on September 15th, the re/insurance world had its eyes on the Monte Carlo, where the current trends future expectations and industry disruptors are being the focal points of the discussions.(12.09.2016)
Autonomous vehicles may reduce US motor premiums by more than 40 percent by 2050
US motor pure premiums could decrease by 20 percent by the year 2035 compared to their 2015 levels - and potentially by more than 40 percent by the time that autonomous vehicles reach full adoption in 2050, according to the annual Global Insurance Market Opportunities (GIMO) report of AON.(13.09.2016)
JLT Re: Sector in danger phase regarding the release of reserves
The re/insurance sector is in a danger phase in which reserves are being released faster than accident year experience would dictate, the situation being similar to the 1998-2000 interval, says JLT in its viewpoint "Enough in Reserve?" released at Monte Carlo.(13.09.2016)
AON: Reinsurance demand increasing as growth opportunities emerge
Reinsurance demand has increased over the past 18 months, with the cession ratio across the global property and casualty insurance industry registering a small rise for the first time in several years, and the trend expected to continue for the remainder of 2016, according to the September 2016 edition of AON's Reinsurance Market Outlook report.(13.09.2016)
HANNOVER Re expects to see greater stability overall in both prices and conditions fopr the January renewal season
In the context of a cvasi unchanged property and casualty reinsurance global market from the previous year, still governed by an intense competition, HANNOVER Re expects to see greater stability in prices and conditions for the treaty renewals as at 1 January 2017, the company's representatives said in Monte Carlo. Also, with Solvency II influencing upon the purchasing behavior of insurers, opportunities for reinsurers should continue to be available.(12.09.2016)

GC: Industry must adapt and innovate to fully grasp opportunities
A series of fundamental disruptive forces are driving monumental changes in the global economy at an unprecedented rate. These forces compel the (re)insurance industry to adjust to the new reality and capitalize on the opportunities created, according to Victoria CARTER, Vice Chairman of International Operations at GUY Carpenter.(12.09.2016)
MUNICH Re EUR 500 million in premium volume from innovative products
Increasing digitalisation and interconnection of the world in almost all areas of the economy means that risks are taking on new dimensions, both private individuals and companies seeking insurance protection for this exposure. Global premium volume for cyber insurance is currently around USD 3 billion, but it is expected to rise to USD 8-10 billion by 2020, said the MUNICH Re's representatives at a press conference in Monte Carlo.(12.09.2016)
Swiss Re: Technological progress will change business models
Even though macroeconomic conditions and the overall industry environment remain challenging, Swiss Re believes that technological advances will create new and valuable efficiencies. The industry can increasingly access new risk pools emerging from the integration of data, analytics, and technology that addresses the insurance protection gap, creating new opportunities for growth.(12.09.2016)
Meet us in Monte Carlo!
Will you be in Monte Carlo at "Les Rendez-vous de Septembre 2016"? Visit our XPRIMM Stand at the Fairmont Hotel! You can find there the latest issues of our XPRIMM Publications specialized magazines and you will also receive a free copy of the XPRIMM Insurance Report!(09.09.2016)
Swiss Re sigma: Demand for customised reinsurance and insurance solutions is growing
The insurance industry's consolidation, as well as globalisation of risks, technological innovations, and regulatory reforms have driven an increasing sophistication in the capital and risk management of insurers and large corporations, shows the latest SWISS Re sigma report released in Monte Carlo. "This has led to higher limits and higher retentions, as well as the substitution of local contracts with larger and more complex solutions", says Swiss Re Chief Economist Kurt KARL, stressing out that. "this goes hand-in-hand with a greater need for tailored re/insurance structures that address unique situations and can sometimes be enhanced with innovative features to meet specific client needs."(12.09.2016)

Next Events

IIF 2017 - MOTOR Insurance Conference
15 February 2017
Bristol Hotel
Vienna, Austria
Organizer: XPRIMM
For details: internationalinsuranceforum.com
European Consumer Protection Conference
16 February 2017
Bristol Hotel
Vienna, Austria
For details: www.consumerprotection.ro

Press Cuttings

POLISH insurer PZU considering EUR 500 mln bond issue
Poland's largest insurer, PZU SA, is considering a 500 million euro Eurobond issue to bolster its capital buffers following its acquisition of UniCredit's Polish unit, its CEO said.(18.01.2017)
UKRAINE: French company has no intention of selling AXA Insurance
French AXA will not sell AXA Insurance, subsidiary insurance company. It was reported by the company's CEO Philippe Wautelet during the interview to Novoye Vremia.(17.01.2017)
RUSSIAN Central Bank revokes almost hundred licenses in 2016
In 2016, the Central Bank of Russia has revoked 97 licenses of banks, 17 licenses of non-state pension funds, 69 licenses of insurance companies and 32 license of management companies, the chief auditor of the Central Bank Valery Goregliad said at the Gaidar Forum.(17.01.2017)
GREEK turnaround adds sheen to NBG's insurance asset sale
An unexpected uptick in the outlook for the Greek economy should boost buyer demand for National Bank of Greece SA subsidiary Ethniki Hellenic General Insurance Co. SA, while the gradual removal of the social safety net should provide a stream of clients for its products over the longer term, analysts told S&P Global Market Intelligence.(17.01.2017)
AZERBAIJANI insurance company increases payment of claims
Azerbaijan's PASHA Life insurance company collected 77.68 million manats in premiums in 2016 that is by 42.5 percent more than in 2015, the company said in a message.(17.01.2017)


NEXT EVENT


INTERVIEW
Michael J. MORRISSEY
President and CEO
IIS - International Insurance Society


Young buyers don't care if the insurance company has been in business for a hundred years. They don't care if the company has a multibillion dollar balance sheet or not. They are spoiled by an entirely different level of customer experience. People who buy products from Apple or people who go to Starbucks have a different expectation of what they get for the money they spend. They want something different, they want something better. And it's hard for legacy companies to adjust. It's hard from the change of computer systems, it's hard from the change of their attitudes ... but however, traditional carriers will have to adjust in the future so it is tough for legacy companies. (2016-12-20) More

INSURANCE & TECHNOLOGY
Innovation - the right response to the technological challenge

The driverless revolution in the auto industry is already buzzing along city streets around the world, in a variety of tests and trials—and not just for cars, but for 18-wheel delivery trucks loaded with beer. Yet the excitement surrounding the emergence of autonomous vehicles tends to overshadow another tech revolution underway: the addition of dynamic cognition layers that will enable cars to care for human comfort, information and entertainment preferences in new and unimagined ways, say the Watson IoT team. (2017-01-19) More

ANALYSIS
The CEE - a motor insurance market under pressure

The motor insurance market in Central and Eastern Europe (CEE) has been extremely competitive in recent years, with players across the board adjusting their business models to optimize costs. Less diversified insurers that have failed to build scale are struggling with profitability, reads a recent report by Standard & Poor's, "CEE Motor Third-Party Liability Insurance Profitability: The Good, The Bad, And The Ugly". (2016-12-22) More

POINT OF VIEW
Kaan ACUN
Deputy General Manager
MILLI Re


Turkish market remains to be our major operating market and MILLI Re aims to continue its leadership of the market. On the other hand, as part of the strategy of transforming from a local reinsurance leader into an international player, MILLI Re has actively engaged in accepting business from emerging markets including Middle East, Asia, Northern and Continental Africa, CIS and Eastern Europe as well as from some developed markets such as Continental Europe and Lloyd's (2016-11-17) More

COUNTRY PROFILES
Albania
Bosnia
Bulgaria
Croatia
Czech Rep.
Estonia
Hungary
Kosovo
Latvia
Lithuania
Macedonia
Montenegro
Poland
Romania
Serbia
Slovakia
Slovenia
Cyprus
Greece
Turkey


Armenia
Azerbaijan
Belarus
Georgia
Kazakhstan
Kyrgyzstan
Moldova
Russia
Turkmenistan
Tajikistan
Ukraine
Uzbekistan

ON THE MOVE
EULER HERMES appoints Kamelia POPOVA as Country Manager for Bulgaria

CHUBB appoints Alf MULLER as Property and Technical Lines Director for Continental Europe

Veronique WEILL to leave the AXA Group

Renata Jungo BRUNGGER appointed in the Supervisory Board at MUNICH Re

SCOR announces several appointments in the top level management team

Miroslav SINGER - former Governor of Czech National Bank to join GENERALI Group

Nowell R. SEAMAN is the new President of RIMS - the Risk Management Society


EVENTS
The XXI Annual Reinsurance Conference to take place in Moscow on April 5-6, 2017

TRIGLAV's digital experience shared with IIF 2017's attendees in Vienna

Karel van HULLE in the Chair of the European Consumer Protection Conference

Register now at the 5th Edition Nordic Asset Allocation: Investing in Alternative Asset Classes conference

Global Insurance Forum 2017 will focus on the role held by the insurance industry in a risk changing landscape

IIF 2017 - About the future of insurance under the digitalization boom, with Valter TREVISANI, GENERALI Group's CIO

Discover essential aspects of the corporate insurance market in Russia and CIS

Copyright 2017(c) xprimm.com
powered by Media XPRIMM