 BADEN
BADEN |
 VIDEO: Over
230 specialists from 36 countries participated at the Baden -
Baden XPRIMM Reception
by adina.tudor@mxp.ro, 2014-10-20
The sixth edition of Baden - Baden XPRIMM Reception, the traditional event
organized by Media XPRIMM during the Baden-Baden Meetings, took place on
Sunday, October 19, gathering over 230 specialists from 36 countries.
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 VIDEO: Japanese
Evening - first time in Baden-Baden!
by adina.tudor@mxp.ro, 2014-10-20
Konbanwa! This Japanese greeting [translation - "Good
evening!"] could be heard, on Sunday evening, at the Kurhaus Casino - Konferenz Saal,
welcoming the insurance and reinsurance specialists that participated at
the Baden-Baden Japanese Evening - a Japanese evening offered by NTT Data,
organized by Media XPRIMM.
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 VIDEO: Romanian
evening organized by STELLAR Re reunited specialists in re
/ insurance at Baden-Baden
by adina.tudor@mxp.ro, 2014-10-20
Representatives of the global insurance and reinsurance markets met on
Saturday, October 18, in Baden-Baden, at the Romanian evening - the traditional
event which has been organized for 20 years by STELLAR Re during the Baden-Baden
Meetings. This year, the cocktail took place in the famous Kurhaus Restaurant.
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VIDEO: 5
new XPRIMM Publications, officially launched in Baden-Baden
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VIDEO: The
Azeri insurance market in the spotlight at Baden-Baden
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Baden-Baden
Turkish Evening brought together specialists interested in
the Turkish insurance market
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Baden-Baden
Reinsurance Symposium assesses future impact of current market
conditions
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Increased
water content in the atmosfere is fueling more frequent storms
and hail
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Traditional
reinsurance under pressure
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ALLIANZ
Re: The trend is to manage the reinsurance at Group level
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FITCH:
Parts of the market have become ripe for merger activity
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WILLIS
Re extends partnership for flood modeling and analytics
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MAPFRE
Global to offer new insurance products in London
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| TOP
NEWS |
The
insurance industry needs to change its 'outdated image'
by daniela.ghetu@mxp.ro, 2014-10-30
The communication strategies in the insurance industry need to change
and the industry itself needs to modify its 'outdated image', the
specialists participating at the 6th Annual Insurance Distribution
Strategies Forum in Rome pointed out. The event was organized by
FLEMING Europe. XPRIMM Publications supported the Forum as Media
Partner.
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ROMANIAN
supervisor planning to change insurance brokerage legal framework
by mihai.cracea@mxp.ro, 2014-10-30
The Financial Supervisory Authority (FSA), institution which regulates
the insurance, private pension and capital markets in Romania, plans
to change the current regulation regarding insurance brokers and
demand a minimum 250.000 lei capital (approx. 56.000 euro) for insurance
brokerage companies.
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 ROMANIAN
postal services company launches insurance broker
by mihai.cracea@mxp.ro, 2014-10-30
Posta Romana S.A., the Romanian state-owned postal services company,
has officially launched its insurance broker on the 29 of October
and plans to become one of the top players on the market within the
next few years.
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Insurance
Europe: European data protection rules could hinder fight against
fraud
by adina.tudor@mxp.ro, 2014-10-30
The EU Data Protection Regulation currently being discussed by the
EU institutions has the potential to hinder the fight against insurance
fraud, according to Insurance Europe, the European insurance and
reinsurance federation.
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SLOVENIA:
Zavarovalnica TRIGLAV plans to strengthen its presence in the pension
insurance market
by vlad.boldijar@mxp.ro, 2014-10-30
Slovenian-based Zavarovalnica TRIGLAV announced its intention to
make a takeover bid for all the shares of the local pension insurer
Skupna Pokojninska Druzba in an strategy to strengthen its position
on this segment of the insurance market.
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TRUST
Re gets A- rating from S&P
by mihai.cracea@mxp.ro, 2014-10-30
Bahrain based reinsurer TRUST Re received A- rating for counterparty
credit and insurer financial strength from Standard & Poor's,
with stable outlook.
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MMC
reported in Q3 its 13th consecutive quarter of double-digit growth
in adjusted earnings per share
by vlad.boldijar@mxp.ro, 2014-10-30
MARSH & McLennan Companies (MMC) reported for
the third quarter of 2014 consolidated revenues of USD 3.1 billion,
or 7% more, compared to Q3 2013. For the analyzed period, operating
income rose by 10% to USD 445 million, while the net income attributable
to the company was USD 297 million (or USD 0.54 per share) compared
to USD 253 million (or USD 0.45 per share), in the previous year.
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STATISTICS: CROATIAN
insurers 3Q GWP down 5.4% according CIB
by vlad.boldijar@mxp.ro, 2014-10-30
According to the latest data from the Croatian Insurance Bureau (CIB),
the 25 insurance companies active on the market wrote gross premium
in the amount of HRK 6.6 billion (EUR 860.3 million) by the end of
September 2014, which is 5.4% less y-o-y. The life insurance segment
increased in GWP by 4.1%, while the non-life sector declined by 8.7%.
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STATISTICS: ALBANIA
3Q2014: The stabilization of MTPL tariffs pushed up the market by
more than 45%
by vlad.boldijar@mxp.ro, 2014-10-30
The insurance premium revenues for January-September 2014 were about
ALL 8,585 million (EUR 61.4 million), or 45.21% more compared to
the January-September 2013, Albanian Financial Supervisory Authority
(AFSA) informed. Payment of claims, during the period January-September
2014, increased by 1.40% compared to January-September 2013. Most
of the gross paid claims were related to motor insurance, about ALL
1,662 million (EUR 11.9 million) or 83.08% of total gross paid claims.
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STATISTICS: MONTENEGRO
3Q2014: Slightly positive rate maintained by life insurers
by vlad.boldijar@mxp.ro, 2014-10-30
In January-September 2014, the Montenegrin insurance market totaled
EUR 54 million, a slight sub unitary increase of 0.4% compared to
the previous year, Insurance Supervision Agency reported. Compared
to 3Q2013, non-life insurance premium was down by 2.4% (to EUR 45.3
million), while the total life insurance premium grew by 17.6% (to
EUR 8.6 million).
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STATISTICS: KOSOVO,
3Q2014: Voluntary insurances gaining ground
by vlad.boldijar@mxp.ro, 2014-10-30
The Kosovo insurance sector reported a slight y-o-y increase in GWP,
of 1.65%, to EUR 61.2 million in the first nine months of 2014, as
the Central Bank data showed (Note: The figures presented by CBK
include only the insurers' activity on non-life segment). MTPL premiums
accounted for more than a half of total GWP, while the share of Border
policies premiums was close to 20%. Other types of voluntary insurance
accounted for ~28% of total market.
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AXA
revenues up by 2% in 3Q2014. The French Group announced its boost
insurance coverage plan in emerging markets
by vlad.boldijar@mxp.ro, 2014-10-29
The French insurance group AXA reported for January-September 2014,
2% y-o-y higher revenues, to EUR 69.6 billion, driven by the growth
on all main business lines: "(...)
we have seen growth in all our business lines, demonstrating the
continued success of our Ambition AXA strategy. Thanks to the engagement
of our teams and the trust of our clients, we continue to protect
and bring peace of mind in a rapidly evolving environment", commented Denis DUVERNE, Deputy Chief Executive Officer of AXA.
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EIG
GWP down 6.4% in 3Q2014 due to negative rates reported by the Romanian
subsidiary
by vlad.boldijar@mxp.ro, 2014-10-29
Bulgaria-based EUROINS Insurance Group (EIG) - the insurance sub-holding
of EUROHOLD Bulgaria - said that during January-September 2014, the
value of GWP decreased by 6.4%, to EUR 110.5 million. Positive rates
were reported by EUROINS Bulgaria and EUROINS Macedonia, while the
Romanian subsidiary and the specialized health insurer reported negative
dynamics.
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SAVA
Re announced the recapitalization of its Serbian life insurance subsidiary
by vlad.boldijar@mxp.ro, 2014-10-29
Pozavarovalnica SAVA (SAVA Re) announced that on October 21, 2014,
the Serbian life insurance company SAVA zivotno osiguranje has raised
its capital by RSD 47.61 million (approximately EUR 400,000) to RSD
311.55 million (approximately EUR 2.7 million).
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SLOVENIA:
Insurance tax up in 2015 by 2pp
by daniela.ghetu@mxp.ro, 2014-10-28
The Slovenian Finance Ministry has published a proposal for changes
to the acts on the financial services tax and the insurance contracts
tax, providing for a raise for both taxes from 6.5% to 8.5%, Slovenian
Times reports. The higher rates are to enter into force with the
start of 2015.
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Pension
savings and life insurance popular among CEE women, while men seem
to prefer classic saving instruments
by daniela.ghetu@mxp.ro, 2014-10-28
Austrians (EUR 188/month) and Slovaks (EUR 96/month) remain savings
champions in CEE and even increase their monthly savings, the Erste
Group Savings Barometer 2014 shows. It seems low interest rates on
classical savings products have not prevented people in CEE from
putting money aside for rainy days. More than two thirds say that
saving money is important, according to launched today.
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VIDEO: AzRe
was assigned with "B+" international rating by A.M. Best
by olesea.adonev@mxp.ro, 2014-10-24
International rating agency A.M. Best has assigned recently a financial
strength rating of "B+" (Good)
and an issuer credit rating of "BBB-" to AzRe Reinsurance, the key reinsurer in Azerbaijan. The outlook assigned to
both ratings is stable.
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Strong
floods hit again Slovenia and the neighboring countries
by daniela.ghetu@mxp.ro, 2014-10-23
Slovenia was hit by the third major flooding this year on October
22nd, following a night of heavy rains and fierce winds, reports
Slovenian Times. The worst hit were central parts of the country,
which saw a record amount of rainfall. Hydrologists warn that the
country should brace yet for November, the most flood-prone month.
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The
TRIGLAV Group exits the Czech insurance market and focuses on strengthening
its operations in the South-East Europe target markets
by daniela.ghetu@mxp.ro, 2014-10-20
TRIGLAV Group exits the Czech market by selling its local subsidiary
TRIGLAV pojistovna, Brno to VIGO Finance, part of VIGO Investments
Group. The sale is expected to be completed by May 2015. The decision
on the sale is in line with the TRIGLAV Group Strategy, focused on
increasing the value of the Group and effectively managing the TRIGLAV
Group's subsidiaries.
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|
| CURRENT
REPORTS |
| INTERVIEW |
 Dmitry
GARMASH
Head of Moscow Representative office
BARENTS Re
Within the traditional Baden-Baden XPRIMM Reception Event, Dmitry
GARMASH, Head of Moscow Representative Office, BARENTS Re, Inc. pointed
out for www.xprimm.com the main features of the BARENTS Re strategy
for
the forthcoming period and the main advantages offered to the business
partners. This year, BARENTS Re supported the 6th Edition of Baden
- Baden XPRIMM Reception as Official Partner.
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|
| ANALYSIS |
 RUSSIA:
Reinsurance under sanctions, realities and forecast for the current
year
Due to the sanctions imposed by the USA and the EU for Russian Federation,
some of local insurance companies were affected. This happened especially
for placing the property or Cargo risks belonging to companies, whose
owners are already in the "black
list".
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Eastern European reinsurers poised to provide
USD 100 million retro capacity in wake of new licence
The granting of a special license to the Ukrainian insurance company,
Brokbusiness, by the National Bank of Ukraine (NBoU) to post collateral
abroad represents the culmination of developments in both the global
catastrophe reinsurance markets and the local insurance markets in
the central and eastern Europe (CEE) and Commonwealth of Independent
States (CIS) regions.
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|
| STATISTIC
UPDATES |
| EVENTS |
|
2nd Annual Solvency II Forum
October 30-31, 2014, Vienna, Austria
Organizer: Global Leading Conferences
Media Partner: XPRIMM Publications
For details: globalleadingconferences.com
WorldPensionSummit 2014
November 5-6, 2014
The Hague, Netherlands
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com
Insurance World Distribution Challenges
November 6, 2014
HESPERIA Hotel, Madrid, Spain
Organizer: Inese & Community
of Insurance
Media Partner: XPRIMM Publications
For details: iwdc.inese.es/en/
Conference of MABISZ
November 6, 2014
Corinthia Hotel, Budapest, Hungary
Organizer: Hungarian Insurance
Association (MABISZ)
For details: mabiszkonferencia.hu
EIOPA Conference
November 19th, 2014
Frankfurt am Main, Germania
Organizer: EIOPA
For details: eiopa.europa.eu
European Conference on Consumer Protection in
Financial Services
March 12th 2015
Palace of the Parliament, Romania
Organizers: APPA-The Romanian
Association of Insurance Promotion & UNSAR- The National Association of Insurance and Reinsurance Companies in Romania |
| POINT
OF VIEW |
 Mateja
LAMOVSEK
Insurance Analyst
Slovenian Insurance Association
As expected, the decline in gross written premium is still noticeable
and we can expect this trend till the end of this year. This is the
result of negative economic growth and unfavorable economic environment
in the country.
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| ON
THE MOVE |
Two
new members added to CertAsig's professional team
by adina.tudor@mxp.ro, 2014-10-23
Two insurance specialists recently joined CertAsig's team, enhancing
the company's underwriting expertise - Camelia VLADESCU as Chief
Financial Risks Underwriter and Mihai BIZINECHE as Chief Liability
Underwriter.
More |
| PRESS
CUTTINGS |
|
