 LES RENDEZ-VOUS DE SEPTEMBRE 2015 |
 Re/insurance - The Next Generation?
by alexandru.ciuncan@mxp.ro, 2015-09-14
Nothing spectacular to the untrained eye: the current reinsurance environment is marked by low interest rates and the ongoing expansion of alternative capital. These are, according to SWISS Re, some of the main premises of this year's traditional Monte Carlo meetings, Rendez-vous de Septembre.
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4% increase for the global reinsurance market last year
by mihaela.circu@mxp.ro, 2015-09-15
The global reinsurance market has increased by 4% in 2014, according to the figures presented during the official press conference of "Les Rendez - Vous de Septembre". The reinsurance premiums reached 250 billion USD as a result of the growth reported on the life sector and in the emerging countries.
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Cyber risks to be modelled. Challenge, opportunity or... both?
by alexandru.ciuncan@mxp.ro, 2015-09-14
AIR Worldwide announced during the Rendez-vous de Septembre in Monte Carlo that it is working on an advanced cyber risk model, the first of its kind so far. The company will be assisted by security risk and cyber data providers. According to sources and various media reports, the solution might be launched sometime during 2017.
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Technology, a key driver of opportunity for the re/insurance industry
by mihaela.circu@mxp.ro, 2015-09-15
The technological advances on the horizon have the potential to change and disrupt the entire insurance value chain. As technology changes the way people do business, travel and manage their health, it will also change how individuals assess their finances. Smart computing and mobile technologies are gaining trust with consumers and are influencing financial buying decisions.
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MUNICH Re: The digitalization of production processes are changing the risk landscape and insurers' business models
by oana.racatej@mxp.ro, 2015-09-16
The digitalization of production processes, transport, logistics and big data is changing societies and economies across the world. These developments are also changing the risk landscape and insurers' business models.
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RVMC: HANNOVER Re anticipates rising demand in treaty renewals as at 1 January 2016
by daniela.ghetu@mxp.ro, 2015-09-16
HANNOVER Re expects the pressure on prices and conditions to ease in the January 2016 round of treaty renewals. Rising demand for reinsurance protection should have a favourable effect overall on the market development, providing for easing pressure on prices and conditions.
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SWISS Re: Underinsurance in property is a global and growing challenge
by oana.racatej@mxp.ro, 2015-09-14
"Underinsurance of property risks", Swiss Re's latest sigma study, reveals that much of the underinsurance is due to global natural catastrophe risk, which has risen steadily over the past 40 years. In the last 10 years, cumulative total damage to global property as a result of natural disaster events was USD 1.8 trillion and about 30% of those losses were insured, making the protection gap [The protection gap is the difference between insured and total losses.] USD 1.3 trillion.
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GUY CARPENTER: "The reinsurance industry continues to evolve and adapt to changing and challenging market conditions"
by adina.tudor@mxp.ro, 2015-09-14
Challenging market conditions, due to abundant capacity, the ongoing influx of new capital and limited loss experience continue to put pressure on the reinsurance sector, while recent M&A activity is adding a new dynamic to the mix. These are only a few of the conclusions drawn by the panel of speakers at the eighth annual press briefing held at the Reinsurance Rendez-Vous 2015 in Monte Carlo by GUY CARPENTER.
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| TOP NEWS |
Skopje: non-EU markets in the CEE cannot be immune to global trends
by daniela.ghetu@mxp.ro, 2015-09-17
"The insurance world is changing, not just incrementally, but fundamentally: an outlook of low interest rates, new geographical markets, new consumer segments, new regulators and regulations, new means of reporting and measures of capital and profits. The whole business is facing unprecedented change," said Klime POPOSKI, President of the Council of Expert Insurance Supervisory Agency, Macedonia in his opening speech at the event recently organized in Skopje by ISA, "Recent developments and challenges of the global insurance industry and how this affects the local insurance industry in Macedonia".
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STATISTICS: UKRAINE, 1H2015: Top 20 non-life insurers outperformed the market average growth rate
by olesea.adonev@mxp.ro, 2015-09-17
In the first half of 2015, GWP collected by local insurers totaled UAH 13.4 billion, up by 21.4% y-o-y, of which UAH 12.5 billion were collected on non-life insurance segment (up by 17.6%). Life insurance GWP amounted to UAH 939 million (down by 3.9%). However, considering the over 50% y-o-y inflation rate recorded in Ukraine, in real terms, as well as denominated in European currency, the results show a strong downturn trend.
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Is the Ukrainian insurance market "losing" life business?
by olesea.adonev@mxp.ro, 2015-09-17
In the first half of 2015, the Ukrainian life insurance segment decreased by 37.7% in European currency, to EUR 37.84 million. The critical situation born by the numerous local banks bankruptcies led to a sharp decrease in the endowment insurance products' popularity, with a sharp decline of the new business numbers. A strong wave of policies' surrenders puts supplementary pressure of the future of the life insurance business in the country.
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STATISTICS: Moldova: The value of paid claims by insurers decreased by 44% y-o-y
by olesea.adonev@mxp.ro, 2015-09-17
In the first six months of this year, the insurance companies of Republic of Moldova reported a total GWP volume of about MDL 573.17 million, down by half percent compared with the 1H2014 figures. About 93.72% of aggregated GWP volume was generated by the non-life classes, the remaining 6.28% being accounted by life policies.
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Moldova avoids suspension from Green Card system. The CoB General Assembly decided to postpone the deadline until April 1st, 2016
by olesea.adonev@mxp.ro, 2015-09-17
2014 and the first half of the current year were one of the most
difficult periods for the domestic insurance market due to the internal
disputes in the National Bureau of Motor Insurers in Moldova between the
members with rights to issue Green Card policies, namely, regarding the
principle of internal organization and the lack of access by the local
management to the funds of the bureau.
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STATISTICS: RUSSIA, 1H2015: Five times faster growth in claims vs. premiums
by olesea.adonev@mxp.ro, 2015-09-17
GWP by Russian insurers in 1H2015 increased by 2% y-o-y, showing the slowest market growth pace since 2009. As a result, the share of insurance in GDP decreased from 1.41% to 1.39%.
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2nd Annual Claims Management Conference: Good claims management systems
by oana.racatej@mxp.ro, 2015-09-17
It is true that the economics of Claims Management has witnessed tremendous changes over the last decade and the specialists activating on the insurance industry need to recognize the complexities associated with technology, innovation, the customer experience and satisfaction, delivery of express, transparent and efficient claims procedures in order to stay on top of the competition.
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Trade Credit & Risk Insurance Forum: Why would you attend?
by oana.racatej@mxp.ro, 2015-09-17
The Trade Credit & Risk Insurance Forum represents a platform for interactive debate, networking and learning dedicated to trade credit stakeholders, where effective partnerships and dialogue for trade promotion, insurance and credit, risk management between ministries, regulators, corporations, SMEs, ECAs, insurers, banks and financiers will be enabled.
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| INTERVIEW |
 Ioseb GOGOLASHVILI
Head of the Insurance State Supervision Service of Georgia
There aren't any type of compulsory insurance laws operating in the Georgia, which is one of the determining factor that in 2014 insurance GPW was of only 1.2% of the GDP. Still, the recent catastrophes have proved that the insurance companies have properly settled all their losses with the help of appropriate reinsurance mechanisms.
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| CURRENT
REPORTS |
| STATISTIC
UPDATES |
| EVENTS |
LIMRA European Annual Conference Paris 2015 -
The Sharing Economy Opportunities
September 20-22, 2015
Paris, France
Organizer: LIMRA EMEA
Media Partner: XPRIMM Publications
For details: www.limra.com
17th Hydra Meeting
September 24-26, 2015
Hydra Island, Greece
Organizer: Hellenic Association
of Insurance Companies
For details: www.eaee.gr
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IAA Regional Seminar
September 28-29, 2015
Baku, Azerbaijan
Organizer: Actuarial Association
of Azerbaijan with support of the International Actuarial Association
(IAA)
Media Partner: XPRIMM Publications
For details: www.actuaries.org
12th ICAR - International CAtastrophic Risks
Forum
October 1th, 2015
HILTON Hotel - Bucharest, Romania
Organizer: Media XPRIMM
Media Partner: PRIMM Magazine
- Insurance & Pensions
20th African Reinsurance Forum
October 4-6, 2015
Hotel Movenpick Tangier, Morocco
Organizer: Societe Centrale
de Reassurance - SCR and African Insurance Organization - AIO
For details: www.aioforum2015.com
Global Summit for Insurance Innovation
October 7-8, 2015
Madrid, Spain
Organizer: INESE
Media Partner: XPRIMM Publications
For details: www.innovation.inese.es
2nd Annual Claims Management Conference
October 8-9, 2015
Ayre Hotel Caspe, Barcelona, Spain
Organizer: C-parity
Media Partner: XPRIMM Publications
For details: Download
PDF Agenda
The 7th International Istanbul Insurance Conference
October 8-9, 2015
Istanbul, Turkey
Organizer: Insurance Practitioners' Association
Trade Credit Insurance Summit 2015
October 11 -13, 2015
Address Hotel, Dubai Mall, Dubai, UAE
Organizer: Informa
Media Partner: XPRIMM Publications
For details: www.tradecreditinsuranceme.com
1st International Life Insurance Conference
October 15 2015
The Westin Zagreb Hotel, Zagreb, Croatia
Organizers: Institute for Insurance, Svijet osiguranja journal, Tectus Ltd
Media Partner: XPRIMM Publications
For details: institutzaosiguranje.hr
Corporate Insurance
October 15-16, 2015
Moscow, Russia
Organizer: IC Energy
Media Partner: XPRIMM Publications
For details: www.icenergy.co.uk |
| PRESS
CUTTINGS |
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