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.

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.

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.

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.

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.

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.

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.

At the beginning of the 2000's, when the insurance industry was not sufficiently capitalized and could not take its own retention large risks, about 60-70% of premiums were ceded for reinsurance abroad. In recent years, the domestic insurance market has grown, and the total premiums ceded to foreign reinsurers fell to 35-30%. Nevertheless, we cannot say that potential of the insurance market is fully involved in the reinsurance business.

DASK has developed a target disaster management model for handling both heavy and minor damage cases. The methodology for assessing earthquake damage to a building is developed in collaboration with universities and it is scientifically proven with similar methods. In order to build an infrastructure that enables DASK to manage claims caused by any kind of catastrophic events including severe earthquake, cooperation with expert business partners was engaged.

It is expected that the adoption of the Law on pension and disability insurance in the Federation of Bosnia and Herzegovina which is now in parliamentary procedure and the announced changes to the health insurance system shall lead to the positive changes in the insurance market, to the development of new products and higher share of voluntary insurance premium in the total portfolio.

The insurance industry in Kazakhstan is one of the key elements of the national financial system. The existence of such compulsory insurance as MTPL and compulsory insurance of third party liability for tour operators and tour agents imposes on insurance industry a greater social responsibility toward society.Due to this fact the insurance market needs more stability, reliability and transparency in order to further the development.

Consumer protection is one of HANFA's top priorities, especially taking into account the growth in unit-linked life insurance.

ACRA's methodology fundamentally differs from the ones used by international peers due to the very fact that it is based on the national scale. This is what distinguishes our approach as a more detailed one allowing for fine tuning, with the local market peculiarities being accounted for. The approaches used by international agencies are intended to rate local companies on the international scale and then map international credit ratings to national scale equivalents.

Establishing a robust anti-fraud culture and awareness in the company may prove crucial to improving financial indicators, will argue Roland WORNER, Global Head of Anti-Fraud , Zurich Insurance Company speaking at the Insurance Fraud Forum, to be held in Munich, Germany, on October 20-21. He shared some of his opinions on the topic in the following interview.

No question, this is the hardest time for most of the Russian insurers since they exist. The growth model does not work anymore in an environment, where everybody - business, private consumers, state - cut back insurance expenditure. On the other hand, shareholders run out of patience to support low margin insurance assets, and the regulator urges for more transparency and improvement of the capital base. However, we believe that this is also the time when insurers usually adapt and streamline processes, decrease costs, but at the same time embrace new technologies and develop new products. Our job at Swiss Re is it to exchange with our partners on new ideas, make them see what is working in Australia, France, the U.S., start-ups successful in Japan and Germany.

The average expenses on insurance products in Poland are 5 times lower than of the average European Union resident. In this sense one can say that the Polish market is still developing and highly dependent on the welfare of the society.

As the overall insurance penetration is not yet at the desired level, the motor lines are still the market drivers in Turkey. "As a country, as an industry, we have to increase the insurance penetration rate. The motor line has already grown, so our focus now is on other lines of business. Health is one of them. We believe in complementary health products because right now just 2 million people benefit from private health policies and we are 80 million in total."

How will VIENNA Insurance Group look in 2026? Which is the group's strategy in the CEE region? What are the new management's plans? All these questions are answered by Elisabeth STADLER, CEO & Chairwoman of the Managing Board, VIENNA Insurance Group in an exclusive interview for XPRIMM Publications.

Estimates suggest the cyber market alone could triple in size over the next five years. Fresh thinking also needs to be applied to difficult questions surrounding new technologies such as driverless cars, cloud computing, 3D printing, the internet of things, nanotechnology, "sharing economies", drone proliferation and a host of other issues which will require risk-transfer mechanisms.

There are lots of rating agencies in the world; there are good agencies in Japan, in Europe and in other countries. But four rating agencies - Standard & Poor's, Fitch Rating's, Moody's and AM Best - are familiar to everybody. To us, a rating from such an agency is a "pass" into the world of international insurance and reinsurance, which allows us to work in all countries from Kazakhstan. These agencies employ highly skilled professionals who understand the situation both in the world economy and in the economy of Kazakhstan.