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XPRIMM News No. 285, November 5, 2015

Insurance Newsletter, No. 285, November 5, 2015

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Insurance Europe report finds significant differences in cost of motor insurance claims across EU
by, 2015-11-05
The cost of motor insurance claims varies widely across Europe, according to a report released by Insurance Europe, the European insurance and reinsurance federation. The report found that in 2013 the average cost of motor third-party liability claims ranged from EUR 1,200 in Portugal, to more than EUR 5,000 in Italy and Sweden.

Hannover Re's reports 21% increase in GWP for the first nine months
by, 2015-11-05
Hannover Re's group net income reached EUR 786 million in the first nine months of 2015, 13% more than in January-September 2014 (EUR 695.4 million). "We are confident of achieving our ambitious profit target of around EUR 950 million for the full financial year", said Ulrich WALLIN, CEO, Hannover Re.
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A.M. Best has affirmed the financial strength rating of UNITY Re at B+ (Good)
by, 2015-11-05
A.M. Best has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of "bbb-" of UNITY Reinsurance Company (Russia). The outlook for both ratings remains negative due to challenging macroeconomic environment in Russia.

SCOR nine month profit close to half billion euro
by, 2015-11-05
French reinsurer SCOR gross written premiums reached EUR 9,996 million in the first nine months, up 19.3% at current exchange rates compared to the same period in 2014 (+5.8% at constant exchange rates).
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Croatian Insurance Days: Legal framework ready for Solvency II
by, 2015-11-05
The insurance market is growing and will continue to grow together with the Croatian economy, but many companies will need to recapitalize because of the changed legal environment, which will be really challenging for many, according to the representatives of the Croatian Chamber of Commerce, the co-organizers of "Croatian Insurance Days" conference which takes place between the 4th and 6th of November in Opatija.
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AON Q3 profit and revenues dropped
by, 2015-11-05
Insurance brokerage company AON announced its net income declined 4 percent to USD 303 million in the third quarter of 2015 compared with USD 315 million a year before. Net income attributable to shareholders decreased by about 5% y-o-y to USD 295 million , while the net income per share attributable to AON shareholders remained at the Q3 2014 level: USD 1.04.

Credit Europe Asigurari
Russian aircraft А-321 Metrojet was insured by INGOSSTRAKH for USD 20 million. ALLIANZ is the leading co-reinsurer
by, 2015-11-05
The Russian aircraft carrying 217 passengers and seven crew members, which crashed in Egypt's Sinai Peninsula on October 31, was insured for USD 20 million on aviation hull policy.
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VIDEO: Alexandre GUERASSIMENKO, Hannover Re: In the long run we can expect an increase on the CIS market
by, 2015-11-05
The Russian re/insurance companies are facing different challenges which reflect in the general economic development, the depreciation of the local currency and the sanction regime, stated Alexandre GUERASSIMENKO Senior Underwriter, Hannover Re, in an interview for XPRIMM Publications during the Baden-Baden Meetings 2015.

CertAsig targets growth in Turkey through local brokers
by, 2015-11-05
Romanian independent insurer CertAsig has been active in Turkey since 2008 and targets growth on the local market through brokers. Therefore, on November 4th it organized its traditional "Annual Marine and Aviation Cocktail", at the Four Seasons hotel in Istanbul.

img_lead_7110Re/insurance specialists gather for 3 days in Opatija during the "Croatian Insurance Days"
by, 2015-11-05
The current social, demographic and technological changes and their impact on insurers' business, at present and in the future, are just a few of the debate themes analyzed during this year's edition of "Croatian Insurance Days". XPRIMM Publications support the event as Media Partner, the participants having the opportunity to find the latest issues of the specialized magazines XPRIMM Insurance Report and INSURANCE Profile at the dedicated stand.


Michael THEILMEIER, GDV: The only chance to improve profitability is to improve cost control
by, 2015-11-05
MTPL market's liberalization pushed premiums down in Germany, according to Michael THEILMEIER, representative of the German insurer's association, present at the "Croatian Insurance Days".

img_lead_7111The "Telematics For Usage-Based Insurance" Conference started today in Berlin
by, 2015-11-05
Possible solutions for further increasing the usage of telematics-based motor insurance, as well as examining potential costs of not joining the trend to telematics insurance services are just a few of the debate topics analyzed during the "Telematics for UBI" conference taking place on November 5th and 6th in Berlin. XPRIMM Publications support the event as Official Publication.

STATISTICS: In 3Q15 MONTENEGRIN insurers issued 51,000 more contracts vs. Jan-Sep '14
by, 2015-11-05
Montenegrin insurance companies reported aggregate GWP of EUR 57.3 million during January-September 2015, 6.3% more y-o-y, according to the preliminary figures published on the country's Insurance Supervision Agency website. Non-life insurance premiums totaled EUR 48.5 million, up by 6.9% on the year, while the life insurance segment generated premiums of EUR 8.8 million, 4.0% more y-o-y.
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STATISTICS: ESTONIAN insurers' GWP rises 5.4% in Jan-Sept
by, 2015-11-05
Estonian insurers posted aggregate GWP of EUR 267 million at the end of September 2015, up by 5.4% y-o-y, according to quarterly market figures published by the Estonian National Statistics Board. Of all five life insurers, the market leader was SWEDBANK Life Insurance SE (40.2% market share), while Estonia's market leader in non-life insurance was If P&C Insurance AS (27%).
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AIG Reports Third Quarter 2015 Results

AZERBAIJAN: Compulsory car owner insurance reduced by 12% in October

BOSNIAN insurer ASA Osiguranje 9-mo net profit rises

CROATIA's Adris Grupa plans listing abroad in 2018

HUNGARY, ALLIANZ: insurers must innovate to compete

All-Russian Insurance Association (ARIA)
President, Russian Association of Motor Insurers (RAMI)

Introduction of the unique methodology for calculating damage has contributed to reducing the number of litigations settled in a court between insurers and the MTPL clients.

AZERBAIJAN FY 2014 & 1H2015 supplement
KAZAKHSTAN FY2014 & 1H2015
RUSSIA FY 2014 & 1H2015
TURKEY FY2014 & 1H2015
XPRIMM Ins. Report CEE, SEE & CIS – FY2014 & 1H2015
XPRIMM Motor Ins. Report FY2014 & 1H2015 supplement
XPRIMM Property Ins. Report FY2014


What do London, Paris, and New York have in common? Increasingly, the answer is Turkey. As reinsurance hubs around the world face soft market conditions brought on by abundant capital and quiet catastrophe years, underwriters are hungry for opportunities to drive profitable growth.


Estonia 3Q2015
Montenegro 3Q2015

EIOPA Conference
November 18, 2015
Frankfurt am Main, Germania
Organizer: EIOPA
For details:
November Business Meetings of Reinsurers
November 2015
Moscow, Russia
Organizer: All-Russian Insurance Association (ARIA)
Co-organizer: Delovoy Format Group
Media Partner: XPRIMM Publications
For details:
Professional and Financial Lines Insurance Forum Middle East
December 7-8, 2015
Dubai, United Arab Emirates (UAE)
Organizer: C5
Media Partner: XPRIMM Publications
For details:


5th Annual Middle East and Africa Insurance Summit
January 19-20, 2016
Dubai, United Arab Emirates
Organizer: Fleming Gulf
Media Partner: XPRIMM Publications
For details:

5th Annual Insurance Claims Management Conference
January 21-22, 2016
Prague, Czech Republic
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details:

6th Annual Bancassurance Conference - Russia & CIS
February 4-5, 2016
Moscow, Russia
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details:
9th Annual BancAssurance Forum
9-10 February 2016
Madrid, Spain
Media Partner: XPRIMM Publications
For details:


The European Motor Insurance Summit 2015
February 11-12, 2016
Rome, Italy
Media Partner: XPRIMM Publications
For details:
IIF 2016 - Motor Insurance - The Road towards profitability
April 17-19, 2016
Istanbul, Turkey
Pera Palace Hotel
Organizers: Media XPRIMM and Istanbul Underwriting Center
Media coverage: XPRIMM Publications
For details:



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