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XPRIMM News No. 265, March 19, 2015

Insurance Newsletter, No. 265, March 19, 2015

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vig_120_2015VIG records above-average growth in its main CEE market, driven by the life and MTPL insurance lines
by, 2015-03-09
The Vienna Insurance Group's Czech subsidiaries have increased their consolidated market share in the second largest CEE to 33.7% (0.6 pp up y-o-y), almost 10% more than its closest competitors.
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STATISTICS: HUNGARY FY2014: Positive trend both in profitability and underwriting volume
by, 2015-03-19
Hungarian insurers saw at the end of 2014 a 4.02% growth in the consolidated market GWP, to HUF 833.8 billion, mostly driven by the positive evolution of the traditional life insurance lines. However, denominated in European currency, the market results show once again a negative trend, with a 1.9% decrease of the GWP volume.

STATISTICS: ROMANIA, FY2014: Lowest value of the insurance penetration degree, in past 7 years
by, 2015-03-19
At the end of 2014, the Romanian insurance market totaled EUR 1.85 billion, 1.84% less y-o-y, according to financial figures collected by XPRIMM. The life insurance GWP decreased by 1%, to EUR 365 million, while the non-life insurance segment was down 2% y-o-y to EUR 1.48 billion.

PZU 2014: GWP close to PLN 17 billion, while profit remains just below PLN 3 billion
by, 2015-03-19
Despite unfavorable regulatory and economic conditions the PZU Group's 2014 financial result was nearly PLN 3 billion (~EUR 701 million). Compared to 2013, GWP went up by 2.5% to a total of PLN 16.9 billion. 2014 also marked fulfillment of the PZU2.0 strategy and work on defining strategic growth directions until 2020 (PZU3.0).

SAVA Re: Record profit as a result of the full MARIBOR consolidation
by, 2015-03-11
The SAVA Re Group posted a record profit of EUR 30.5 million in 2014, 27% over the planned target, seeing for the first time the full beneficial effects of the Zavarovalnica MARIBOR acquisition and consolidation.
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EUR 512 million net income for SCOR in 2014
by, 2015-03-11
Paris-based reinsurer SCOR reported for 2014 a net profit of EUR 512 million (vs. EUR 549 million in 2013). Excluding an exceptional gain on purchase of EUR 183 million linked to GENERALI US in 2013, the net income increased by 40% y-o-y, as the company reported.
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GENERALI 2014: improved profitability driven by accelerated group's restructuring
by, 2015-03-19
The GENERALI Group closed 2014 with a strong growth, completing its three-year 2015 turnaround plan, one year ahead of schedule, according to the group's statement. These strategic initiatives have enabled GENERALI to improve its profitability and rebuilt its capital strength.

Credit Europe Asigurari
10 million new customers for UNIQA Group Austria in 2014 and rising profits and premiums
by, 2015-03-11
Austrian UNIQA Insurance Group improved its preliminary profit on ordinary activities (EBT) by 22.9% to EUR 377.9 million in 2014, while the preliminary consolidated net profit was up slightly on the previous year's level to EUR 289.9 million, the company informed in a press release.
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VIG became the fourth market player in Croatia according to the consolidated group's subsidiaries result in 2014
by, 2015-03-11
Vienna Insurance Group (VIG) has strengthened its position in the Croatian market, with an increase in premium income of 3.4%. Market share grew by 0.7% pp to 8.4%, bolstering the Group's position as the country's fourth-largest insurer. Croatian Group companies recorded a combined premium income of around HRK 715 million (approx. EUR 94 million).
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ROMANIAN insurance brokerage market in 2014: close to the EUR 1 billion threshold
by, 2015-03-19
On December 31, 2014, the insurance mediation market totaled RON 4.4 billion - the equivalent of EUR 990 million, according to the preliminary data collected from a total of 73 companies activating on the market. Compared with 2013, in absolute terms, the figure increased by about EUR 100 thousand (RON 400 thousand). As share of the mediated premiums to the overall GWP, the brokerage companies generated 54% of total.

S&P's: Rating changes for the Russian insurance companies: 4 downgraded, 3 affirmed
by, 2015-03-11
S&P's announced on March 6th it has revised its assessment of Russian property and casualty (P&C) insurance industry and country risk (IICRA) to high from moderate and consequently took negative rating actions on four Russia-based insurance companies: Sogaz, RESO Garantia, Ingosstrakh and Insurance Co. Transneft. At the same time ratings for ROSGOSSSTRAKH, SOGLASIE and VTB INSURANCE were affirmed.
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Fraud prevention vs. Customer satisfaction
by, 2015-03-12
"To stop the fraud is only half the story. Fraud prevention actions must support our insurance business. This process must provide a unified approach across all LOBs (lines of business) while simultaneously preserving the customer experience and improving the profitability ", said Roland B. WORNER, Global Head of Counter Fraud GI Claims, ZURICH Insurance Company, Switzerland during the 3rd Annual Claims Forum.

Fraudster behavior can be influenced at certain moments
by, 2015-03-12
The behavior of insurance fraudsters is one of the most important elements in fighting this phenomenon, according to Madalin ROSU, Motor Insurance Responsible of the National Romanian Insurers and Reinsurers Association - UNSAR.

How will Solvency II influence claims?
by, 2015-03-12
One of the new requirements of the forthcoming Solvency II regime is about outsourcing critical activities for the insurance and reinsurance businesses, like claims handling.

Claims segmentation and prioritization can influence the consumer satisfaction
by, 2015-03-12
"Motor own damage insurance (MOD) is ANADOLU's Sigorta core business and this branch represents one of the highest competitive area on the Turkish market", said Emin AYIK, Assistant Manager Motor Claims Department, ANADOLU Sigorta, Turkey during the 3rd Annual Claims Forum. According to the figures presented by Mr. AYIK, at the end of September 2014, ANADOLU Sigorta was the largest insurer on the Turkish market and also the market leader on the MOD sub-segment.

Andrzej KLESYK reconfirmed as PZU Chairman
by, 2015-03-19
Andrzej KLESYK's mandate as Chairman of the PZU Management Board was renewed by the Supervisory Board resolution of March 16th.
Marek JANKOVIC to become new Chairman and CEO of CESKA pojistovna
by, 2015-03-19
Starting June 1st, 2015, Marek JANKOVIC will become the new Chairman and Chief Executive Officer of Czech leading insurer - CESKA pojistovna (CP), GENERALI CEE Holding informed in a press release.

ACHMEA posts EUR 388 million operational result

Aviva plc 2014 Preliminary Results Announcement

AZERBAIJAN endorses size of premiums on Green Card policies

AZERBAIJAN Mortgage Fund to select insurer on competitive basis

BULGARIA: IMF calcs for better banking supervision

BULGARIAN insurer EUROINS hikes capital to 9 mln euro

CZECH REPUBLIC: Pojistovna CS invests millions of Czech crowns in IT

FITCH affirms Slovenian insurer ADRIATIC Slovenica at IFS 'BBB-'

HANNOVER Re generates new record result

KAZAKHSTAN: A.M. Best Affirms Ratings of Kazakhinstrakh

RUSSIA: Rosgosstrakh insured liability of hazardous facility owner

Sompo Japan to buy 15% stake in reinsurer SCOR

UNIQA Keeps Business in Eastern Europe

UNIQA's gross premium income in BULGARIA down 4.1% in 2014


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



Hungary FY2014
Romania FY2014



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
For details:
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
SORS Conference
June 10th-12nd, 2015
Sarajevo, Bosnia and Herzegovina
Organizer: Re/Insurance Association of Bosnia and Herzegovina, TECTUS and SVIJET Osiguranja
Media Partner: XPRIMM Publications
For details:
IIF 2015 - Property Insurance in a Stormy Era
June 22-23, 2015
Munich, Germany
Organizers: Media XPRIMM and NTT Data
Media coverage: XPRIMM Publications
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AIIF - 2015 Azerbaijan International Insurance Forum
AIIF - 2015 Азербайджанский Международный Страховой Форум
July 2nd-3rd, 2015
Fairmont Hotel, Baku, Republic of Azerbaijan
Organizers: Azerbaijan Insurers Association and Media XPRIMM
For details:



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