Insurance Newsletter, No. 306, April 14, 2016

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CEE motor insurance 2015: GWP up by 5%, but still unsatisfactory profitability
by Daniela GHETU, 2016-04-14
The overall non-life insurance premiums production went up, in the CEE, by about 5%, to EUR 18.76 billion, in 2015. Motor insurance lines saw the same dynamic, recording a GWP increase of 5%, to EUR 9.42 billion and practically generated a little more than half of the total absolute growth in the non-life area. Yet, the sector is far from seeing the high pre-crisis growth rates.
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Pro and cons for the bodily injuries' compensation tables debated in Budapest, at the 1st International Motor Insurance Conference
by Daniela GHETU, 2016-04-14
"The amount of compensation for bodily injury can be the result of lengthy discussions based on the extent of the injuries, as documented by medical professionals and the claimant's subjective assessment of the damage. If the disparity between the views of the claimant and the liable party on the damage is large, a judge will decide on the amount of the compensation. This process costs both time and money," says Patrick Le ROY, Gen Re, Germany. In fact, this will be tje starting point of the presentation he will give in Budapest, at the 1st International Motor Insurance Conference, on April 28th-29th.

The 10th "Insurance in Central Asia" International Conference took place in Almaty. INSURANCE Profile Kazakhstan is presented on the event
by Oleg DORONCEANU, 2016-04-12
The 10th anniversary edition of the International Conference "Insurance in Central Asia", a traditional event for the re/insurance leaders from Central Asia, CIS and CEE countries, took place on April 12-13, 2016 in Almaty, Kazakhstan.

STATISTICS: GEORGIA, FY2015: The two units of VIG accounted for about 30% of local insurance market
by Vlad BOLDIJAR, 2016-04-14
The Georgian insurers market ended the financial year 2015 in black, as gross written premiums increased by 19% y-o-y to GEL 360 million (EUR 137.5 million), according to the State Insurance Supervision Service of Georgia reports.

Credit Europe Asigurari
KAZAKHSTAN: The 12th International Risk Management Conference starts today in Almaty. XPRIMM Publications are presented on the event
by Oleg DORONCEANU, 2016-04-14
The 12th International Risk Management Conference takes place on April 14-15, 2016 in Almaty, Kazakhstan, organized and sponsored by EURASIA Insurance Company JSC. Traditionally, XPRIMM Publications support the event as Media Partner, being represented by Oleg DORONCEANU, Director, XPRIMM International.

STATISTICS: MOLDAVIAN insurers reported a business volume of EUR 59 million at the end of 2015
by Vlad BOLDIJAR, 2016-04-14
At the end of December 2015, the Moldavian insurance market totaled MDL 1.2 billion (about EUR 58.8 million), up by 2.1% y-o-y, according to the preliminary statistics recently published by the market's supervisory authority. Claims paid by the 15 insurers that have reported operations totaled MDL 386.6 million (or EUR 18.5 million) - equivalent to 31% of the total GWP.

RUSSIA: The National Reinsurance Company will control about 30% of the reinsurance market
by Olesea ADONEV, 2016-04-14
The National Reinsurance Company will hold an about 30% share of the Russian reinsurance market, said Deputy Director of the Financial Policy Department, Ministry of Finance (Russia), Vera BALAKIREVA on the 20th Edition of the Annual Reinsurance Conference, in Moscow, which took place on April 6th and 7th. The event was co-organized by All-Russian Insurance Association (ARIA) - Reinsurers' Committee and DELOVOY Format Group. XPRIMM Publications supported this event as Media Partner.

Keeping up with the changes in the insurance claims field
by Daniela GHETU, 2016-04-14
The insurance industry is currently facing a significant amount of change on various fronts, all of which influence the industry's operations, and claims management is no exception. Among the main factors in play, there are new technologies, customer-centric business models, and regulatory updates.


Global Head of Operations from Allianz talks about automation and digital insurance
by Daniela GHETU, 2016-04-14
One of the most frequent buzzwords in the insurance field is "digital". What kind of products and services will become key for the insurers? And how to adapt to the changing environment? Roy Loeschner, Global Head of Operations from Allianz, talks answers these questions and provides an overview of how the operational side of the industry is coping with the current environment.

The 2nd Annual Global Insurance Distribution & Bancassurance Conference: Impact of big data analytics for insurance distribution
by Oana RACATEJ, 2016-04-14
Big data analytics has shifted the paradigm for the insurance industry, making specialists more proactive in terms of approaching their clients. The 2nd Annual Global Insurance Distribution & Bancassurance discusses the impact of big data analytics for insurance distribution, taking into consideration all opportunities and risks which lay ahead.

S&P's: Global insurance M&A trends should continue in 2016 despite a patchy track record of successful deals

The global insurance industry was a very active participant in the M&A wave of 2015, accounting for nearly USD 150 billion. While buyers, sellers, and their investment bankers appear to have taken a brief break from the frenzy, the Standard and Poors rating agency believes the deal-flow will continue, albeit at a slower pace, in 2016.

Cornelia COMAN appointed CEO of Nationale-Nederlanden Spain as of 1 July 2016

As of 1 July 2016, Cornelia COMAN, formerly CEO of NN Hungary, will be appointed CEO of Nationale-Nederlanden Spain, pending regulatory approval. She will succeed Robin BUIJS, who will be moving on to a new role within NN Group.
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Alexander VOLLERT - appointed CEO of AXA Germany

AXA announces the appointment of Alexander VOLLERT as Chief Executive Officer of AXA Germany. In addition, he will be appointed to the AXA Group's Executive Committee. This appointment will be effective as of September 16, 2016, subject to the approval of the BaFin, the German Federal Financial Supervisory Authority.

Expert estimates: Life insurers to be engine of AZERBAIJAN's insurance market

Good signs for you to invest in the LATVIAN insurance business

TURKEY to Mitigate Insurer Losses from Mandatory Motor Vehicle Insurance

World Bank lowers forecast for ARMENIA's economic growth

Georgia FY2015
Moldova FY2015


IIF 2016 - Motor Insurance - The Road towards profitability
April 17-19, 2016
Istanbul, Turkey
Organizers: Media XPRIMM and IUC
Media coverage: XPRIMM Publications
For details: www.internationalinsuranceforum.com

Motor Insurance Conference
April 28-29, 2016
Budapest, Sofitel Budapest Chain Bridge Hotel
Organizers: Croatian Institute for Insurance & XPRIMM
Media coverage: XPRIMM Publications, Svijet Osiguranja
For details: www.xprimm.com
2nd Annual Global Insurance Distribution & Bancassurance Conference
May 12-13, 2016
Munich, Germany
Organizer: C-parity
Media Partner: XPRIMM Publications
For details: www.c-parity.com
4th Annual Operational Excellence in Insurance Forum
May 12-13, 2016
Amsterdam, the Netherlands
Radisson Blu Hotel
Organizer: Fleming
Media partner: Xprimm Publications
For details: www.fleming.events


FIAR 2016 - The International Insurance - Reinsurance Forum
May 15-19, 2016
Brasov, Romania
Organizer: Media XPRIMM
Media coverage: XPRIMM Publications
For details: www.fiar.ro
2nd Annual Credit Risk Management Forum
May 19-20, 2016
Amsterdam, the Netherlands
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details: www.glceurope.com
TARSIM International Agricultural Insurance Symposium
June 2-3, 2016
Istanbul, Turkey
Organizer: TARSIM - Agricultural Insurance Pool of Turkey
For details: iais.tarsim.gov.tr
4th Annual Insurance Claims Forum
June 2-3, 2016
Prague, Czech Republic
Organizer: Fleming
Media partner: Xprimm Publications
For details: www.fleming.events

AZERBAIJAN FY 2014 & 1H2015
KAZAKHSTAN FY2014 & 1H2015
RUSSIA FY 2014 & 1H2015
TURKEY FY2014 & 1H2015
Ins. Report CEE, SEE & CIS – FY2014 & 1H2015
Motor Ins. Report FY2014 & 1H2015
Property Ins. Report FY2014