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XPRIMM News No. 460, 18 July, 2019

XPRIMM News
Insurance Newsletter, No. 460, 18 July, 2019

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES

TOP NEWS
Elisabeth Stadler receives Grand Decoration of Honour in Silver for Services to the Republic of Austria
by press.release, 2019-07-15
Elisabeth Stadler, CEO and chairwoman of the listed Vienna Insurance Group (VIG), was awarded the Grand Decoration of Honour in Silver for Services to the Republic of Austria, under a resolution adopted by the country's President on 23 April 2019. The award was presented on 9 July 2019 by the Federal Minister for Digital and Economic Affairs, Elisabeth Udolf-Strobl.
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STATISTICS: The CEE insurance market exceeded EUR 10 billion in Q1
by Andrei Victor, 2019-07-18
The CEE insurance market totaled EUR 10.1 billion at the end of March 2019, according to regional markets figures collected and centralized by XPrimm Publications, 2% more y-o-y on average.
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BULGARIA: EIG to expand its services in Malta under FoS
by Andrei Victor, 2019-07-15
Sofia-based EUROINS Insurance Group announced its Bulgarian subsidiary Insurance Company EUROINS AD intends to offer legal expenses insurance on the territory of the Republic of Malta under the terms of the freedom of provision of services, according to a statement by Bulgaria's Financial Supervision Commission (FSC).
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FITCH placed EUROHOLD's rating under observation
by Andrei Victor, 2019-07-15
With reference to the agreement that EUROHOLD Bulgaria AD signed to acquire CEZ's assets in Bulgaria, the international credit rating agency FITCH Ratings placed EUROHOLD Bulgaria AD's Rating under observation.
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BULGARIA: Groupama to acquire OTP's Express Life Insurance
by Cosmin CONCEATU, 2019-07-18
OTP's Express Life Insurance of Bulgaria agreed to sell 100% of shares to Groupama's subsidiary in Bulgaria, strengthening Groupama's position in the local market.
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STATISTICS: Macedonian insurers posted almost a quarter billion MKD in Q1 GWP
by Andrei Victor, 2019-07-18
At the end of March 2019, the Macedonian insurance market totaled about a quarter billion MKD (EUR 40 million), up by 4.6% y-o-y, according to data provided by the local Insurance Supervision Agency.
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PZUW is the second fastest-growing mutual insurer in the world
by Daniela GHETU, 2019-07-18
PZUW, the mutual insurance arm of the Polish PZU Group, is the second fastest growing mutual insurance company in the world, the latest edition of the Global 500 report prepared by the International Federation of Cooperative Insurance and Mutual Insurance Companies (ICMIF) shows.
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STATISTICS: Q1 profits of Slovak insurers declined to EUR 31.8 million
by Andrei Victor, 2019-07-18
In the first three months of 2019, the Slovak insurance market totaled EUR 610.7 million, 3.6% more y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).
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Swiss Re to stop the ReAssure's IPO due to market conditions
by Andrei Victor, 2019-07-15
Swiss Re announced the suspension of its previously communicated plans for an initial public offering (IPO) of ReAssure. "This action is in response to the heightened caution and weaker underlying demand in the UK primary market from large institutional investors", as the global reinsurer mentioned in a statement.
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STATISTICS: GREECE, January-April update: property insurance significantly affects the decline of non-life
by Marina MAGNAVAL, 2019-07-18
According to the Hellenic Association of Insurance Companies (HAIC), the local insurance market grew by 2.2% y-o-y from January-April 2019. Total GWP reached EUR 1.3 billion by the end of April.
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STATISTICS: CIS region, 1Q2019: regional GWP had almost no change, while paid claims jumped by more than 22% y-o-y
by Marina MAGNAVAL, 2019-07-18
According to 1Q2019 results, the volume of the regional market remained almost unchanged y-o-y. Total GWP growth reached only 0.08% (in European currency). Regional GWP amounted to EUR 6.33 billion.
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KAZAKHSTAN: in January-May 2019 insurer income grew by more than 25% y-o-y, while net profit dropped by almost 3%
by Marina MAGNAVAL, 2019-07-18
In January-May 2019, income of the Kazakh insurers amounted to KZT 176.7 billion (~EUR 0.41 billion), which is 25.1% more y-o-y, Allinsurance.kz reported based on data from Finprom.kz.
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RUSSIA: in 1Q2019, inward reinsurance increased by 22% y-o-y; outward by 4%
by Marina MAGNAVAL, 2019-07-18
Inward reinsurance in 1Q2019 increased by 22% y-o-y (vs 24% a year ago), according to an official announcement from the national reinsurer.
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UKRAINE: January-May MTPL growth exceeded 12% y-o-y
by Marina MAGNAVAL, 2019-07-18
From January to May 2019, Ukrainian insurers generated MTPL GWP 12.3% more y-o-y, and the total number of MTPL policies increased by 3.5%, Forinsurer reports with reference to data published by MTIBU (Motor Transport Insurance Bureau of Ukraine).
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UZBEKISTAN: Insurance Market Development Agency to be established
by Marina MAGNAVAL, 2019-07-18
At a meeting held July 10 by President Shavkat MIRZIYOYEV, it was decided to reform the State Inspectorate for insurance supervision at the Ministry of Finance by liquidating it and establishing an Insurance Market Development Agency, reports UzReport.
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On the move
AON names Darren ZEIDEL as General Counsel
by Andrei Victor, 2019-07-18
AON announced that its Board of Directors has approved the appointment of Darren ZEIDEL as the firm's Executive Vice President, General Counsel and Company Secretary, effective July 12, 2019.
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Patrick FLYNN appointed as AVIVA's Independent Non-Executive Director
by Andrei Victor, 2019-07-18
AVIVA has appointed Patrick FLYNN as an Independent Non-Executive Director with effect from 16 July 2019. He will also join the Board Audit, Risk and Nomination Committees.
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STATISTIC UPDATES
? STATISTICS: CEE 1Q2019
? STATISTICS: CIS 1Q2019
? STATISTICS: MACEDONIA 1Q2019
? STATISTICS: SLOVAKIA 1Q2019
? STATISTICS: GREECE 1Q2019

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