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XPRIMM News No. 225, July 4, 2013

Insurance Newsletter, No. 225, July 4, 2013

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img_lead_3851POLISH insurance market down 9% in Q1
by, 2013-07-04
Polish insurers' combined GWP decreased by 8.85% to PLN 15.01 billion (EUR 3.6 billion) in the first quarter of 2013 over the same period a year earlier, as the financial indicators published by the Polish Financial Supervision Authority (KNF) showed. Official figures also reveal that the amount of paid claims/indemnities during the period was PLN 9.87 billion, representing an increase of 7.25% y-o-y.
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img_lead_3848Russia: Federal Antimonopoly Service fights against dumping on the insurance market
by, 2013-07-04
The Federal Antimonopoly Service proposes to the Russian insurance market's participants to develop a mechanism for determining and preventing the dumping rates practice, writes the specialized portal Insur-Info.
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img_lead_3854KAZAKHSTAN, Q1/2013: 41% increase for the insurance companies
by, 2013-07-04
Between January-March 2013, the insurance companies in Kazakhstan underwrote premiums totalizing KZT 72.01 billion (EUR 363 million), 41.1% more compared to the same period in 2012. The paid claims reached KZT 13.2 billion (EUR 66 million), increasing by 7.6% compared to Q1/2012.
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img_lead_3852TURKEY, 1Q2013: Insurance market posts a 27% growth y-o-y
by, 2013-07-04
Turkey's insurance market increased by 27.3% in the first quarter of this year in comparison with the same period a year earlier, according to figures published by the Turkey Insurance Association (TSB), the value of GWP totaling TRY 6.6 billion (EUR 2.8 billion), from TRY 5.2 billion in 1Q2012.
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img_lead_3858Armenian insurers are delaying on purpose payments for MTPL claims
by, 2013-07-04
Insurers in Armenia are using various means of delaying payments for MTPL claims, according to Eduard HOVHANNISYAN, President of the Center for the Protection of Drivers' Rights of Armenia. He says that in many cases claims adjusters call for the expertise of the Traffic Police even if it is not necessary, jut to postpone the payment as much as possible.
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img_lead_3853Kazakhstan is a potential candidate for the International Green Card System membership
by, 2013-07-04
Kazakhstan intends to become a member of the International Green Card System, according to the statements made by the Minister of Economy and Financial Policy of the Eurasian Economic Commission, Timur SULEIMENOV, as the local media says. According to the minister, among the CIS countries, only Russia and Belarus have been part of this European international system, since 2009 and 2003 respectively.
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img_lead_3850BULGARIAN insurers 1Q2013 GWP up 8% y-o-y
by, 2013-07-04
The Bulgarian insurance market increased by 8% to BGN 419.2 million (EUR 214.3 million) in 1Q2013, as the country's financial regulator recently reported. Life insurers posted a combined technical loss of BGN 18.75 million (EUR 9.58 million), while the non-life insurance companies recorded a combined technical profit of BGN 15.89 million or EUR 8.12 million.
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img_lead_3849ALBANIAN market totaled EUR 15 million at the end of March
by, 2013-07-04
At the end of March, 2013, the Albanian insurance market totaled ALL 2,085 million (EUR 14.9 million), or 11.96% more compared with the same of period last year, according to the figures published by the Albanian Financial Supervisory Authority (AFSA).
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AIIF 2013
img_lead_3800Menekse UCAROGLU, AIIF 2013: The Turkish authorities are ready for the health reform
by, 2013-06-24
The Turkish health insurance public system is facing problems similar to those of other countries, such as the over-crowdedness of public hospitals. That's why the authorities are hurrying to set up the private system. Menekse UCAROGLU, President of the Board, Istanbul Underwriting Center, declared during the International Insurance Forum in Azerbaijan that, at the beginning of May, discussions were started regarding the setting up of a cooperation frame between the Insurance Supervisory Authority, the Treasury, the insurance companies and the private medical operators.
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img_lead_3793CIB is solving its first claim requests on mandatory motor insurance
by, 2013-06-21
As of April 18 2012, the Compulsory Insurance Bureau in Azerbaijan (CIB) started the claims payment for the compulsory car insurance in the case of bodily injuries and material damages produced in a car accident, according to the Law on the compulsory insurance, which entered into force on June 24 2011.
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img_lead_3792UNITY Re: Legislative differences and the disproportionate development of the reinsurance markets, some of the challenges the insurers in the Caucasus are facing
by, 2013-06-21
The falling rates and prices, the disproportionate development of the optional reinsurance, as well as the different regulations among the states in the region represent the main characteristics of the insurance and reinsurance market in the Caucasus, Dmitry GARMASH, Deputy General Manager, UNITY Re, upon the presentation held within AIIF 2013 - the International Insurance Forum in Azerbaijan.
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img_lead_3794AZ Re: Azeri insurers ceded reinsurance premiums amounting to AZN 88.2 million
by,, 2013-06-21
"In the year 2012, premiums in the amount of AZN 88.2 million were ceded by the Azeri insurers. Moreover, in the previous year reinsurers paid damages of AZN 14.5 million, of which 75% was paid by local reinsurers, and the rest by international ones. However, 43% of risks are ceded to local reinsurance companies, while the international market insures the capacity for the remaining 57% of risks," declared Fuad KULIYEV, Chairman of the Management Board, AzRe, within AIIF 2013 - the International Insurance Forum in Azerbaijan, which is held on June 20-21, 2013, in Baku. The event is organized in partnership between the Insurers' Association in Azerbaijan and Media XPRIMM, with the official support of the Ministry of Finance of the Republic of Azerbaijan.
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img_lead_3799AIIF 2013: 98% of the population in Abu Dhabi has health insurance. How did the first state in the United Arab Emirates reform the public system?
by, 2013-06-24
June 21st, the second day of AIIF 2013, was dedicated to health insurance in the region and to the international experience concerning the introduction of the compulsory health insurance in Azerbaijan. Within this section, Finn GOLDNER, Senior Adviser, MUNICH Health Daman Holding, Middle East & Africa, gave a presentation centered around the implementation of compulsory health insurance in Abu Dhabi, as part of the health system reform.
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Credit Europe Asigurari
AZERBAIJAN: Insurance premiums to exceed AZN 1 bn manat in 2018

AZERBAIJAN: PASHA Heyat is among leaders in terms of capitalization

BULGARIA: Insurers take abroad BGN 2.63 BN

COFACE launches credit insurance in CROATIA

CROATIA insurer looking to acquire 25% of Pozavarovalnica SAVA

CZECH REPUBLIC: Brokers mediate insurance worth CZK 20.04 bn in 2012

LATVIA: FCMC withdraws operating licenses of BALVA

LITHUANIA: Most drivers claim traffic safety can be increased by educating culture

POLAND: Insurance market consolidates rapidly as TALANX and VIENNA expand

POLAND: PKO to buy NORDEA Polish Unit

POLISH insurance database to limit PLN 1.8 billion annual fraud

ROMANIA: INSIA eyes 10% share on insurance broking market

RUSSIA: First-quarter 2013 gross premiums up 12.8% to USD 7.7 billion

RUSSIA: INGOSSTRAKH renews reinsurance contracts for aviation cover

SERBIA: Delta Generali Osiguranje sells Jedro health centre

SERBIA: IFC is in talks on becoming a minority shareholder in DUNAV Osiguranje

SLOVAK insurance companies using private detectives

SLOVENIA: Net profit of Zavarovalnica MARIBOR EUR 7.7 million in 2012

SLOVENIA: Zavarovalnica TRIGLAV cancels contracts with IFC

Lets summer well!

After an atypical start, dominated by storms, rain and floods, the 2013 summer finally entered in its own right and the sun shines all over Europe: it is again vacation time!
So, the XPRIMM News editorial staff is wishing you a pleasant summer time and invites you to meet us again on August 8th. Till then, take care to the sun burns and don't forget the travel insurance!
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JLT will be riding the charity bike from London to Monte Carlo

by, 2013-07-04

In order to raise money for two charities, a team from JARDINE LLOYD THOMPSON (JLT) will be travelling by bicycle from their London offices to this year's Les Rendez-Vous de Septembre in Monte Carlo.
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BCR Asigurari de Viata
Metropolitan Life

Albania 1Q2013
Bulgaria 1Q2013
Poland 1Q2013
Turkey 1Q2013



Les Rendez-Vous de Septembre
September 7th-13th, 2013
Monte Carlo, Monaco
Organizer: RVS
For details:
13th International Yalta Finance Forum
September 17th-21st, 2013
Yalta, Ukraine
Yalta Intourist Hotel
Organizer: Perspektiva Business Strategy Centre with support of League of Ukrainian Insurance Companies
Media Partner: XPRIMM Publications
For details:
International Istanbul Insurance Conference
October 3rd-4th, 2013
Organizer: Istanbul Underwriting Center
Baden - Baden XPRIMM Reception
5th Edition
October 20th, 2013
Kurhaus Casino, Runder Saal
Baden-Baden, Germany
Organizer: XPRIMM Publications
WorldPensionSummit 2013
November 13-14, 2013
Amsterdam, Netherlands
Media Partner: XPRIMM Publications
For details:


marina_shipovalova80Marina SHIPOVALOVA
General Director

With the formation of the Customs Union and the declaration of the developing United Economic Community by the governments of the participating countries there is a process of getting a more balanced and harmonized legislation by unifying the legislation of those countries also with regards to the insurance sector.
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TRIGLAV: Matej RUNJAK is the new Chairman of the Supervisory Board

by, 2013-07-04

On July 1st, Matej RUNJAK was appointed Chairman of the Supervisory Board of Zavarovalnica TRIGLAV. The Vice-Chairman position belongs to Gregor KASTELIC.
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Bosnia Azerbaijan
Bulgaria Belarus
Croatia Georgia
Czech Rep. Kazakhstan
Estonia Kyrgyzstan
Hungary Moldova
Kosovo Russia
Latvia Turkmenistan
Lithuania Tajikistan
Macedonia Ukraine
Montenegro Uzbekistan
Serbia Cyprus
Slovakia Greece
Slovenia Turkey



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