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Insurance

BRANDSTETTER, UNIQA: We are on track to achieve the targeted earnings for 2016
UNIQA Group Austria announced its 3Q2016 premiums written fell by 2.3% y-o-y to EUR 4.75 billion "due to the reduction in single premium business in the life insurance segment in line with planning. While recurring Group premiums rose by 1.9% to EUR 3.94 billion, single premiums in life insurance fell by 18.8% to EUR 803.7 million".(29.11.2016)
The XVth edition of the November Business Meetings of Reinsurers gathered over 230 re/insurance professionals from 21 countries
Between the 22 and 23 of November 2016, the XVth November Business Meetings of Reinsurers took place in Moscow, Russia. The event, which has already become a tradition, was organized by the Reinsurance Committee of the All-Russian Insurance Association and co-organized by DELOVOY Format ('Business Format') Group. Traditionally, XPRIMM Publications supported the event as Media Partner, being represented by Oleg DORONCEANU, Director, XPRIMM International.(29.11.2016)
WILLIS Re appoints Ronnie CARROLL to its Western Europe team
WILLIS Re, the reinsurance division of WILLIS TOWERS WATSON, announced the appointment of Ronnie CARROLL as Head of Structured Solutions for Europe West and Senior UK Client Advisor. He will report directly to Alkis TSIMARATOS, Managing Director, Head of Europe West.(29.11.2016)
AEGON to appoint Matthew RIDER as CFO
AEGON announced that its Supervisory Board intends to nominate Matthew J. RIDER (1963, US Citizen) for appointment as CFO and member of the Executive Board at its Annual General Meeting of Shareholders on May 19, 2017. The appointment is subject to approval by the Dutch Central Bank (DNB).(29.11.2016)
CHUBB appoints A&H, consumer lines heads in Germany
CHUBB announced the heads of its Accident and Health (A&H) and Specialty Personal Lines (SPL) insurance business lines in Germany. The appointments reflect the current integration process following the acquisition of CHUBB by ACE and follow the recent announcement the property and casualty and claims department heads as well as that of Andreas WANIA as Country President and legal representative for CHUBB in Germany earlier in the year. They are Alexander HOFFMANN and Alexander LAPP.(29.11.2016)

Stephen BURR joins POOL Re as Head of Actuarial Services
POOL Re announced on November 24th, the appointment of Stephen BURR, Head of Actuarial Services. "This is a new position which had previously been fulfilled by an external consultant. BURR takes up his role with immediate effect and will report to Steve COATES, our Chief Underwriting Officer."(29.11.2016)
Anthony BRADSHAW to succeed Robert FRANSSEN as CEO of ALLIANZ Benelux
Anthony BRADSHAW, Member of the Board of ALLIANZ Italy, will take over as the Chief Executive of ALLIANZ BENELUX, effective April 1, 2017, as the german insurance group announced in a press release.(29.11.2016)
Ireland is preparing to welcome re/insurers leaving the UK in the Brexit aftermath
Ireland, already a key player in the global insurance and reinsurance industry and widely recognised as one of the best locations to establish European headquarters operations, may get a strong influx of insurers seeking for a new European home providing for the EU "passporting" rights in the Brexit aftermath. Preparing for such an eventuality, the Irish Central Bank has increased its staff numbers by more than a quarter, in order to cope with a possible wave of applications from London-based insurers.(29.11.2016)
Register now at the Winning Digital Marketing Financial Services Conference! XPRIMM readers benefit from up to GBP 280 discount!
How are leading financial services staying up to date with industry innovations and future technologies to capture the customer and maximise digital marketing performance? Find out at the annual Winning Digital Marketing Financial Services Conference on 21 March 2017 in London. XPRIMM Publications support the event as Media Partner, and XPRIMM readers benefit from a discount between GBP 150 and GBP 280.(28.11.2016)
ECPC 2017: Speed an ease of access vs. fair consumer protection: an actual issue in the automated distribution area
The insurance sector, which has been previously slow to take up digital and relied on mainframe technology for decades, is now living a real "revolution", rapidly adopting customer-friendly digital technology such as mobile apps. Insurers are increasingly using apps to serve customers who want instant and easy access to insurance services.(24.11.2016)
IIF 2017: Equipped with the latest digital technologies, motor insurers may be of real help in decreasing the number of road victims
Over 26,000 people were killed on the EU roads last year, a decreasing number as compared with the 2010 statistics which show a total of 31,400 people deaths as the result of vehicle crashes. The European Commission's efforts are directed to reducing this number to as much as 16,000 by 2020. According to statistics, 2015 marked an increase in the number of people killed on roads for the first time since 1997.(24.11.2016)
JLT Turkey insures the Istanbul Yavuz Sultan Selim Bridge for terrorist attacks
JLT Turkey insurance company has insured the Yavuz Sultan Selim Bridge, which is the third new bridge over the Bosphorus, from terrorist attacks and fire, reads a news published by the Trend News Agency quoting a message posted on the company's website Nov. 22.(24.11.2016)
SLOVAK Rep.: Increasing insurance taxation is raising hauliers' discontent
The Slovak government's decision to extend the 8% tax, previously applied only to the MTPL insurance premiums, to all the facultative non-life insurance lines has raised not only insurers' discontent, but also a negative reaction of CESMAD - the Association of Road Transport Operators of the Slovak Republic. In short, Slovak hauliers blame the recent change in taxation for the sharp increase in the mandatory motor insurance prices.(24.11.2016)
PZU Group in Ukraine, 3Q2016: Important increase of business for two own subsidiaries
In 3Q2016 the GWP generated by PZU Ukraine and PZU Ukraine Life Insurance, part of PZU Group, reached to UAH 1 billion, up y-o-y by 56% and 31%, respectively, reads the official press release.(24.11.2016)
STATISTICS: BELARUS, 3Q2016, MoF: Insurance increased almost a quarter y-o-y
Belarusian insurance market totaled BYN 742 million (EUR 343 million) for the first nine months of 2016, 24.2% more y-o-y, according to the MoF market figures. In terms of paid claims, the market authority reported a 14.2% y-o-y increase, the 19 active market players paying almost BYN 394 million (EUR 182 million).(24.11.2016)

Interviews

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)
Insurance Supervision Department
The National Bank of Serbia

Insurance market has a strong solvency ratio indicating a high level of capital adequacy and stability, which we expect will be the case in the following period. Positive premium dynamics in H1 2016 are an encouraging sign to expect a successful year, especially in the life segment as the more dynamic part of the market.(27.10.2016)
Levent SONMEZ
Deputy General Manager
ANADOLU Sigorta

Despite all the cliches saying that the "price should not be the first criteria when buying insurance", the price is one of the most determining factors from a customer's pint of view. I think instead of criticizing this behavior, we must accept and internalize this natural fact. All sales channels are steering their customers for the best price.(20.10.2016)
Tadej COROLI
Member of the Management Board
Zavarovalnica TRIGLAV

Following the implementation of Solvency II, TRIGLAV Group will continue to strengthen its position in the Adria region and to develop as the insurance hub of South-East Europe through organic growth and potential takeovers, should an appropriate opportunity arise.(13.10.2016)

Press Cuttings

AZERBAIJANI insurance company to increase authorized capital
Shareholders of Bashak Inam Insurance OJSC will discuss increasing of the company's authorized capital on Dec. 22, the company said in a message on November 19.(23.11.2016)
KAZAKHSTAN's Halyk Bank ups 2016 profit guidance to 120 bln tenge
Kazakhstan's second-biggest lender, Halyk Bank , raised its 2016 net income guidance to around 120 billion tenge (USD 353 million) on Monday from a previous forecast of over 100 billion tenge.(23.11.2016)
HUNGARY's OTP BANK Opens Regional Headquarters In South Serbia
Hungary's biggest lender OTP Bank has opened a new regional headquarters in the city of Ni(23.11.2016)
Significant damage not expected from Japanese earthquake
The major earthquake that struck off the coast of Japan in the early hours of this morning local time and the tsunami waves that followed, are not anticipated to have caused significant damage, according to risk modelling firm RMS.(23.11.2016)
Germany's Munich Re eyeing Iran's market
The announcement was made by Abdul-Nasser Hemmati, the president of the Central Insurance of Iran.(23.11.2016)

ARMENIAN insurance companies report 63% surge in net profit
The net profit of six Armenia-based  insurance companies in the first 9 months of 2016 amounted to 3.895.5 billion drams,  up from 2.394.1 billion drams they had earned in the same period of 2015, an increase of 62.7%., according to ARKA news agency's  bulletin "Insurance Companies of Armenia" for the third quarter of 2016.(17.11.2016)
AIG Restructuring Continues with Japan Life Business Sale
Continuing its efforts to recalibrate its business to focus on core operations, American  International Group Inc. AIG has entered into a strategic agreement with FWD Group, the insurance arm of Pacific Century Group.(17.11.2016)
CROATIA's Adris absorbs Tvornica Duhana Zagreb
Croatian diversified conglomerate Adris Grupa said on Tuesday it has formally absorbed tobacco factory Tvornica Duhana Zagreb TDZ.(17.11.2016)
NN Group reports 3Q16 results
"'Despite the prevailing uncertain economic conditions, we continue to deliver on our targets to generate capital and improve earnings, while bringing our brand promise 'You matter' to life for our customers every day. We maintain a strong balance sheet, with a solvency ratio of 236%", said Lard Friese, CEO.(17.11.2016)
KBC Group: Strong third-quarter profit of 629 million euros
Against a background of persisting low interest rates, modest economic growth in Belgium and firmer growth in Central Europe and Ireland, KBC posted a strong net profit figure of 629 million euros in the third quarter of 2016, compared to the 721 million euros recorded in the preceding quarter (which had been boosted by a one-off positive impact of 84 million euros (after tax) resulting from the sale of Visa Europe shares) and the 600 million euros returned in the third quarter of 2015.(17.11.2016)
Slovenia, Croatia lead by insurance market development in ex-Yu region
Twenty five years after the break-up of Yugoslavia, Slovenia and Croatia are the clear front-runners in terms of development of insurance markets among the republics of the former federation, S&P Global Ratings said on Monday.
(15.11.2016)
HUNGARY: CIG Pannoniaʼs acquisition of MKB units cleared
The acquisition of sole direct control over MKB Life Insurance by CIG Pannonia Life Insurance, and over MKB General Insurance by CIG Pann(14.11.2016)
AZERBAIJAN: Another insurance Co to be liquidated
Shareholders of Azerbaijani insurance company Azerqarant have decided to liquidate the company, Rashad Mammadov, head of the company's management board, told Trend Nov. 8.(14.11.2016)
MOLDOVAN insurance companies fined by NCFM
Most of Moldovan insurance companies were fined by the National Commission of Financial Market (CNPF). The sanctions were imposed because they have not met the deadline for payment of compensation and preparing the minutes on prejudice.(14.11.2016)
RUSSIA's Sberbank CFO says no plans for privatisation in 2017
There were no plan to sell a state stake in Russia's top lender Sberbank in 2017, Sberbank's chief financial officer Alexander Morozov said on Thursday.(14.11.2016)
GEORGIA: Int'l Insurance Consortium to Invest 7 mln GEL in Development of IC Group
An investment agreement was signed between the International Insurance Consortium (Netherlands) and IC Group according to which up to 7 million GEL will be invested in the Georgian Insurance Company, the Georgian side to hold 51 percent of shares and the Dutch 49 percent.(14.11.2016)
ARMENIA: VTB Bank announces new terms for customers seeking collateral loans
The Yerevan-based VTB Bank (Armenia) has announced today a string of preferential terms for individual customers seeking to obtain gold-secured loans.(14.11.2016)
Zurich insurance to Take USD 300 m Loss on Russian Unit Sale
Zurich coverage organization AG, the largest Swiss insurer, said the sale of its Russian retail unit will cause an anticipated loss of about USD 300 million. The insurer said it's miles promoting the enterprise to Moscow-based Olma group and intends to keep and build its Russian company enterprise, consistent with a declaration on its internet site these days.(14.11.2016)
Aegon reports net income of EUR 358 million in Q3 2016
"Aegon's Solvency II ratio remains strong and our management actions enabled us to mitigate adverse market impacts...", said Alex Wynaendts, Aegon CEO.(14.11.2016)
MACEDONIA: Triglav unit 9-mo after-tax profit up on net premium income
Macedonian non-life insurer Triglav Osiguruvanje [MSEVROS], a unit of Slovenian insurance group Triglav, said its profit after-tax increased to 59.24 million denars (USD 1.07 million/962,300 euro) in the first nine months of the year from 40.56 million denars a year earlier mainly due to higher net premium income.(07.11.2016)
Willis Towers Watson Reports Third Quarter Earnings
Willis Towers Watson (NASDAQ:WLTW) (the "Company"), a leading global advisory, broking and solutions company, today announced financial results for the third quarter of 2016, which ended September 30, 2016. On January 4, 2016, the merger of Willis Group Holdings plc (Willis) and Towers Watson & Co. (Towers Watson) was completed. In this release, the Company has presented consolidated financial results for the quarter ended September 30, 2016 and certain pro forma results for the quarter ended September 30, 2015.(07.11.2016)
HUNGARY: AXA has completed the sale of its banking operations to OTP Bank plc
AXA announced today that it had completed the sale of its Hungarian banking operations to OTP bank plc. This transaction is the final step in the repositioning of AXA Bank Europe as a fully focused Belgian retail bank, serving almost one million clients and operating jointly with AXA Insurance in Belgium.
(03.11.2016)
MetLife Announces Third Quarter 2016 Results
On a GAAP basis, MetLife reported third quarter 2016 net income of USD 571 million, down 52 percent from the third quarter of 2015. On a per share basis, net income was USD 0.51, also down 52 percent from the prior-year period.(03.11.2016)
AIG Reports Third Quarter 2016 Results
American International Group, Inc. (NYSE:AIG) today reported net income of USD 462 million, or USD 0.42 per diluted share, for the third quarter of 2016, compared to a net loss of USD 231 million, or USD 0.18 per diluted share, in the prior-year quarter.(03.11.2016)
Insurance manager wins tender to become LATVIA's tax chief
A high-level insurance manager has won a tender to become Latvia's State Revenue Service's director-general, State Chancellery Director Martins Krievins, who chaired the panel assessing the candidates, told reporters Tuesday.(02.11.2016)
CZECH REPUBLIC: A.M. Best Affirms Credit Ratings of Ceska pojistovna
A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Ceska pojistovna a.s. (Ceska) (Czech Republic). The outlook of these Credit Ratings (ratings) remains stable.(02.11.2016)
UZBEKISTAN: Uzbekinvest Hayot pays 15.1b soums in insurance over 9 months
Life and health, the core of Uzbekinvest Hayot's insurance activities, require an individual approach in working with clients. This is even more so when examining claims over events which might entail insurance payment.(02.11.2016)
AZERBAIJAN: Pasa Hayat Sigorta has seized 53% of life insurance market
Domestic life insurer Pasa Hayat Sigorta intends to bring premiums up to AZN 70 million until the end of 2016. Company's deputy chair Niyazi Ismayilov has stated that for Jan-Sept it gathered AZN 61.8 million and comepnsated for AZN 25.6 million.(02.11.2016)
AZERBAIJAN: Management changes at Standard Insurance
Fuad Khalilov has been appointed the new chairman of the Board of Directors of Azerbaijan's Standard Insurance company, said a message posted on the company's website.(02.11.2016)
AZERBAIJAN: New appointment at PASHA Holding Group of Companies
Jalal Gasimov has been appointed first deputy director of the PASHA Holding Group of Companies, a source in Azerbaijan's financial market told Trend Oct. 28.(02.11.2016)
AZERBAIJAN: Two insurers authorized for compulsory insurance
In Azerbaijan two more companies have received the right to render services on a range of mandatory types of insurance. Financial Markets Supervision Chamber reports that the decision was taken by the Chamber's Board of Directors on 26 October.
(02.11.2016)
RUSSIAN VTB Bank complains cannot find buyers for Ukrainian branches
Russian VTB Group is ready to sell the business in Ukraine, but the buyer has not yet been found, said Member of the Supervisory Board of VTB Bank, former Central Bank Chairman Sergey Dubinin, Lenta.ru reported.
(02.11.2016)
Ingosstrakh to pioneer Russia's online insurance market
Ingosstrakh Insurance Company, one of the largest Russian insurance companies, has reached a strategic milestone by spearheading the digital marketplace of insurance products in Russia. CEO Mikhail Volkov has announced that packaged insurance products, which so far have sold only in retail outlets, will now be available on Russia's biggest marketplace, Yandex.Market.
(02.11.2016)

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

AZERBAIJANI insurance company to increase authorized capital
Shareholders of Bashak Inam Insurance OJSC will discuss increasing of the company's authorized capital on Dec. 22, the company said in a message on November 19.(23.11.2016)
KAZAKHSTAN's Halyk Bank ups 2016 profit guidance to 120 bln tenge
Kazakhstan's second-biggest lender, Halyk Bank , raised its 2016 net income guidance to around 120 billion tenge (USD 353 million) on Monday from a previous forecast of over 100 billion tenge.(23.11.2016)
HUNGARY's OTP BANK Opens Regional Headquarters In South Serbia
Hungary's biggest lender OTP Bank has opened a new regional headquarters in the city of Ni(23.11.2016)
Significant damage not expected from Japanese earthquake
The major earthquake that struck off the coast of Japan in the early hours of this morning local time and the tsunami waves that followed, are not anticipated to have caused significant damage, according to risk modelling firm RMS.(23.11.2016)
Germany's Munich Re eyeing Iran's market
The announcement was made by Abdul-Nasser Hemmati, the president of the Central Insurance of Iran.(23.11.2016)


INTERVIEW
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. (2016-11-24) More

INSURANCE & TECHNOLOGY
Jeroen MORRENHOF
CEO
FRISS


Most insurance companies focus on the growth of their portfolio and less on its quality. It is important to have a clear picture of potential customers before they enter your portfolio. You should decide on the amount of risk you are willing to take in and to have the ability to adjust the screening to your pre-determined risk profile at any time. This way, you will keep control over your portfolio and maintain the optimal balance between quantity and quality. (2016-11-29) More

BADEN-BADEN XPRIMM RECEPTION

AZERI EVENING BADEN-BADEN

ANALYSIS
Sustained insurance sector growth in 2017 largely based on demand from emerging markets

The global economy is expected to grow moderately over the next two years, supporting continued growth in insurance premium volumes, Swiss Re's publication Global insurance review and outlook for 2017/18 shows. Growth in global non-life premiums is forecast to fall slightly from 2.4% in 2016 in real terms to 2.2% in 2017, and accelerate to 3.0% in 2018. In the life sector, global premiums are expected to grow by 4.8% in 2017 and 4.2% in 2018. The emerging markets, in particular emerging Asia, will be the main driver of premium growth in both the non-life and life sectors. (2016-11-24) 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
Anthony BRADSHAW to succeed Robert FRANSSEN as CEO of ALLIANZ Benelux

Stephen BURR joins POOL Re as Head of Actuarial Services

CHUBB appoints A&H, consumer lines heads in Germany

WILLIS Re appoints Ronnie CARROLL to its Western Europe team

SOMPO CANOPIUS's CEO steps down

TALANX announced personnel changes in the Management Boards of PB insurers

Lloyd's: New appointments for the positions of Strategy & Change Director and Chief Risk Officer


EVENTS
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IIF 2017: Equipped with the latest digital technologies, motor insurers may be of real help in decreasing the number of road victims

ECPC 2017: What are the insurers' expectations regarding the KID and IPID forthcoming implementation

IIF 2017: The impact of the latest digital technologies on the motor insurance business to be discussed in Vienna

Consumer protection in the Bulgarian context

Insurance fraud issue will be discussed in Moscow, Russia

The Croatian Insurance Days preliminary program was published

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