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XPRIMM News No. 263, February 19, 2015

Insurance Newsletter, No. 263, February 19, 2015

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KOOPERATIVA- VIG: One third of homes and half of contents still uninsured in the Czech Republic
by, 2015-02-18
KOOPERATIVA pojistovna - VIG, the second largest insurer on the Czech market, paid CZK 1.5 billion (~EUR 54 million), for 21,000 claims arising from the natural disasters in 2014. By comparison, in the previous year 23,000 similar claims were reported, with a total value of CZK 2 billion, of which CZK 1.6 billion were paid only for the damages produced by the June floods which affected the territory of the Czech Republic in 2013.

STATISTICS: CZECH Rep., FY2014: Despite the positive trend in motor insurance, market doesn't take off yet
by, 2015-02-18
Hopes for a strong recovery of the insurance market were not confirmed as the full year figures of the CAP - the Czech Insurers Association show only a very small growth in terms of GWP (1.05%), to CZK 115.19 billion. In European currency, given the significant depreciation of the Czech koruna, the total GWP amounted to EUR 4.15 billion, a value close to the one from 2013.

STATISTICS: TURKISH insurance sector up by 7.3% in 2014
by, 2015-02-19
Last year, the Turkish insurance industry reported a 7.3% increase in GWP, to TRY 25.9 billion (EUR 9.2 billion), compared to the previous year's TRY 24.2 billion, according to the preliminary figures published by the Insurance Association of Turkey - TSB.

STATISTICS: LITHUANIA, FY2014: Insurance market development is likely to surpass the growth rate of the domestic economy
by, 2015-02-18
Driven by a recovery in the economy and an almost 7% increase in 2014, the insurance market this year is likely to maintain a similar growth rate, forecasts the Bank of Lithuania.

STATISTICS: ESTONIA, FY2014: Local market reported increases on almost all business lines
by, 2015-02-19
Last year, the Estonian insurance market posted total gross written premiums of EUR 341 million, 7.5% up compared with the previous year, according to FY2014 preliminary market figures published by the Estonian National Statistics Board. Claims paid during the period were up by 3.5% to EUR 189.5 million due to the 5% increase reported on the general insurance segment.

UKRAINE Green Card prices up by 42.7%
by, 2015-02-11
Due to a 58% devaluation of the local currency (UAH) against the euro by 58%, starting February 12, 2015, the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) will increase the tariffs for Green Card policies by 42.7%, according to
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STATISTICS: KAZAKHSTAN, FY2014: Local market decreased by 4.7%
by, 2015-02-13
According to the official data published by the National Bank of the Republic of Kazakhstan, in 2014 the gross written premiums collected by the local insurance companies totaled KZT 266.1 billion (EUR 1.1 billion), 4.7% less in local currency compared with 2013.
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STATISTICS: AZERBAIJAN, FY2014: Gradual appreciation of AZN compared to EUR led to a double-digit increase of the market
by, 2015-02-18
According to data presented by the Ministry of Finance of the Republic of Azerbaijan, in 2014, the insurance market of Azerbaijan totaled AZN 429.18 million, reporting an increase rate of 5.79% in local currency, while the claims paid amounted to AZN 157.13 million, up by 27.95%.
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Credit Europe Asigurari
AZERBAIJAN will apply the Green Card system starting January 2016
by, 2015-02-12
The President of Azerbaijan has approved the amendments to the Law of the Azerbaijan Republic regarding "Compulsory Insurance". Amendments entered into force on December 25, 2014. The main part of the amendments concerned the fact that Azerbaijan joined the Green Card System. The amendments to the Law on Compulsory Insurance endorsed by the country's leader and the processes regulating the activity within the Green Card system will enter into force starting January 1, 2016.
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ARMENIA, Q32014: Insurers report a 6.1% increase in the total number of insurance contracts
by, 2015-02-11
According to the latest data published by ArmInfo News Agency, for the Q32014, Armenian insurance companies issued 244,201 policies, up by 6.1% compared to the similar period of 2013. Thus, the total number of valid insurance policies grew by 1.6% to 628,202.
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WILLIS Group net income down 0.8% in 2014
by, 2015-02-11
The insurance and reinsurance broker WILLIS Group reported net income of USD 362 million for the twelve months ended December 31, 2014 compared with USD 365 million in 2013. At the same time, the value of commissions and fees increased to USD 3.77 billion compared to USD 3.63 billion in 2013.
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AON's FY2014 revenues up 2% to USD 12 billion
by, 2015-02-11
AON Plc reported for the financial year 2014, total revenues of USD 12 billion, 2% more compared to the prior year. By divisions, Risk Solutions total revenue increased 1% to USD 7.8 billion and HR Solutions total revenue increased 5% to USD 4.3 billion.

MMC posts double-digit growth in operating income for the seventh consecutive year
by, 2015-02-11
MARSH & MCLENNAN Companies (MMC) reported for the fourth quarter 2014 consolidated revenue of USD 3.2 billion, representing an increase of 4% compared with Q4 2013, while the operating income rose 10% to USD 536 million, compared with USD 489 million in the prior year period. For the full year 2014, the net income increased to USD 2.3 billion (vs. USD 2.1 billion in 2013), while the consolidated revenue was USD 13 billion, or 6% more y-o-y.

Insurance Europe: Telework makes insurance a more attractive career choice
by, 2015-02-11
The ability to engage in telework could make the insurance sector a better place to work, while also increasing productivity within the sector, according to a joint declaration signed by Insurance Europe, the European insurance and reinsurance federation, and other European bodies representing employers and trade unions in the European insurance sector.

VIII Tashkent International Insurance and Reinsurance Forum will be held on June 4-7, 2015
by, 2015-02-18
The VIII Tashkent International Insurance and Reinsurance Forum, organized by SAIPRO Information Rating Agency, will take place between the 4th and the 7th of June, 2015, in Tashkent (Uzbekistan).

AIG reports fourth quarter 2014 net income of USD 655 million and diluted earnings per share of USD 0.46

AZERBAIJAN: PASHA Heyat Sigorta establishes cooperation with German Social Insurance Against Accidents

Bermuda seeks business in BELARUS

Generali Bulgaria, Victoria get new CEO

HANNOVER Re broadly satisfied with outcome of 1 January treaty renewals

HUNGARY home insurance market sees first post-crisis expansion

ING's Romanian life insurance unit profit jumps 150% in 2014

January 2015 Renewals: SCOR Global P&C delivers premium growth of 2.4%, while maintaining expected profitability

KAZAKHSTAN: A.M. Best assigns ratings to Kommesk-Omir Insurance Company

KBC Group: Last quarter continues profitable trend. 2014 profit at 1.8 billion euros.

LATVIA: Insurers suffer EUR 4.5 mln loss from MTPL insurance in 2014

LITHUANIA's pension funds paid out EUR 14.3 mln in 2014

Metlife announces fourth quarter and full year 2014 results

NN Group posts strong 4Q14 and 2014 results

NN Group rebrands its businesses

Rostelecom sells insurance policies in North-Western Russia

Russian export insurance agency interested in new projects in BELARUS

TURKEY: 2/3 of population live in areas with earthquake risk

VIG plans bond issue and buyback of existing securities

ZURICH reports business operating profit of USD 4.6 billion for 2014 and proposes dividend of CHF 17

Mathew EAGLE, new head of Guy Carpenter's team of International Analytics
by, 2015-02-19
Starting August 1st, Matthew EAGLE will be the new Managing Director and Head of International Analytics for Guy Carpenter, the company has recently announced.

RUSSIA 1H 2014
TURKEY FY 2013 and 1H2014
KAZAKHSTAN FY 2013 and 1H2014



Turkey FY2014
Czech Rep. FY2014
Lithuania FY2014
Estonia FY2014
Azerbaijan FY2014
Kazakhstan FY2014


African Insurance Forum 2015
February 23-24, 2015
Johannesburg, South Africa
Organizer: FEXTONS
Media Partner: XPRIMM Publications
For details:
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
For details:
3rd Annual Claims Forum
March 11-13, 2015
Munich, Germany
Organizer: FLEMING Europe
Media partner: XPRIMM Publications
For details:
IX International Conference "Insurance in Central Asia"
April 14-15, 2015
Almaty, Kazakhstan
Organizer: InterConsult Info
With the support of the Kazakhstan Association of Insurers
Media Partner: XPRIMM Publications
For details:

Russian Reinsurance Conference
XIX Edition
April 16-17, 2015
Moscow, Russia
Organizers: All-Russia Insurance Association & DELEVOY Format Group
Media coverage: XPRIMM Publications
For details:
XI - Annual International Risk Management Conference
April 16-17, 2015
Almaty, Kazakhstan
Organizer: JSC Eurasia Insurance Company
Media Partner: XPRIMM Publications
For details:
IIF 2015 - Motor Insurance - The Road towards profitability
April 19-20, 2015
Istanbul, Turkey
Organizers: Media XPRIMM and Istanbul Underwriting Center
Media coverage: XPRIMM Publications
For details:
The Future of General Insurance in Africa
April 23-24, 2015
Organizer: Landsberg Communications International - LCI
Media Partner: XPRIMM Publications
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Global Forum on Cyber Security for Financial Sector
May 11-12, 2015
Frankfurt, Germany
Organizer: PROSPERO Events
Media Partner: XPRIMM Publications
For details:
FIAR 2015 - The International Insurance - Reinsurance Forum
May 17-21, 2015
Brasov, Romania
Organizer: Media XPRIMM
For details:
7th International Insurance Conference
May 27, 2015
Luxembourg Congres Conference Centre
Organizer: Insurance Europe



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