 TOP
NEWS |
VIG 3Q pretax profit down by 60% to EUR 175 million
by vlad.boldijar@mxp.ro, 2015-11-24
Vienna Insurance Group (VIG) announced that its nine-month pretax profit decreased by 60% to EUR 175.3 million, while the value of gross premiums edged down 1.8% to EUR 6.9 billion. Splited by lines of business, property and casualty GWP increased by 0.9% y-o-y to EUR 3.6 billion, while the life segment was down by 5.2% y-o-y (to EUR 3 billion). At the same time, VIG's combined ratio slipped 0.2% to 96.9%.
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Trust Re reports USD 381.3 million GWP
by mihai.cracea@mxp.ro, 2015-11-23
In the first nine months of the year, Trust Re generated GWP of USD 384.2 million. This represents a rise of 0.8% from the USD 381.3 million reached in the equivalent period twelve months ago.
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SWISS Re forecasts moderate strengthening in global economic growth in 2016 and 2017, supporting insurance growth
by daniela.ghetu@mxp.ro, 2015-11-26
The global economy is expected to strengthen moderately in 2016, supporting insurance premium growth in most regions, according to Swiss Re's latest publication, Global insurance review 2015 and outlook 2016/17. Demand for non-life insurance is expected to grow, led by an 8% to 9% annual gain in the emerging markets in 2016 and 2017. The life insurance sector faces challenges, in particular from ongoing low interest rates. Nevertheless, global life premiums are forecast to rise by about 4% in each of the next two years, led also by the emerging markets.
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STATISTICS: TURKEY 3Q: Significant growth rates on all classes
by vlad.boldijar@mxp.ro, 2015-11-25
The Turkish insurance sector totaled TRY 22 billion (EUR 6.5 billion) at the end of September 2015, representing a nominal increase of 16.1% y-o-y, according to the market figures published on the Insurance Association of Turkey - TSB's website.
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STATISTICS: Impressive growth rate in life and sustainable dynamic in non-life for LITHUANIAN market in 3Q
by vlad.boldijar@mxp.ro, 2015-11-26
Lithuania's insurance market, in terms of premiums written over the three quarters of 2015, grew 6.9%, to amount to EUR 463.5 million. Life insurance premiums continued to grow fast, although the development of this insurance branch is slower than last year. The non-life insurance branch recorded sustainable growth.
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Balance Sheet review reveals deficiencies in capital requirements for some Romanian insurers
by mihai.cracea@mxp.ro, 2015-11-23
The Romanian Financial Supervisory Authority (ASF) announced the completion of the valuation program of assets and liabilities (Balance Sheet Review Extended - BSRE) for another 21 insurance undertakings, which hold together a market share of approximately 20%.
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TRIGLAV Group, 3Q2015: Higher premium and profit supported by the extra-Slovenian business
by daniela.ghetu@mxp.ro, 2015-11-26
The TRIGLAV Group ended the first nine months of 2015 with a profit before tax of EUR 94.9 million, representing a 6% growth y-o-y. Moreover, GWP went up by 4% y-o-y, to EUR 718.3 million thanks to achieving the Group's Strategy focused on the development of pension and health insurance products and on boosting business in the Adria region. In fact, the extra-Slovenian businesses of the Group reported the highest growth rates.
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PERILS starts providing industry-wide catastrophe insurance data for Turkey
by daniela.ghetu@mxp.ro, 2015-11-26
PERILS, the independent Zurich-based company providing industry-wide catastrophe insurance data, has announced that it has extended its market coverage to include Turkey. Market-wide property sums insured exposed to earthquake and flood events in Turkey will be available via PERILS's database, as well as event loss data for any major events.
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SAVA Re, 3Q2015: Lower than expected profitability due to a major loss in the international reinsurance portfolio
by daniela.ghetu@mxp.ro, 2015-11-26
In 3Q2015, the SAVA Re Group saw GWP amounting to EUR 384.6 million, up 3.6% y-o-y, with the strongest growth coming from international reinsurance business. The current GWP figure represents 80.7% of the planned premium for the full year 2015. The Group achieved a net profit of EUR 23.0 million, which is 7.9% down y-o-y, but still in line with the 2015 budget.
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STATISTICS: GREECE, 3Q2015: The decreases reported on motor classes pushed the market down by 3.6% y-o-y
by vlad.boldijar@mxp.ro, 2015-11-25
The Greek insurers reported gross written premiums of EUR 2.72 billion in 3Q2015, down by 3.6% y-o-y, according to a quarterly report published by the Hellenic Association of Insurance Companies (HAIC). Non-life insurance GWP accounted for 51% of the total - EUR 1.38 billion, or 8% less y-o-y, while the life insurance sector was up by 1.4%, reaching EUR 1.33 billion (49% of total insurance market).
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SOGAZ is the insurer of the Russian military troops
by olesea.adonev@mxp.ro, 2015-11-25
The life and health of the Russian military troops were insured for RUB 2.3 million per victim (insured person) by SOGAZ Russia under an insurance contract concluded with the Ministry of Defense of the Russian Federation, according to korins.ru online portal which quoted official information published on the company's website.
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STATISTICS: GEORGIA, 3Q2015: The market was up by 29% due to the impressive growth on the health segment
by vlad.boldijar@mxp.ro, 2015-11-25
At the end of September 2015, the Georgian insurance industry totaled GEL 292 million (EUR 109 million), as the figures published by the Insurance Supervisory Office showed. Compared with 3Q2014, the local insurance market increased by 29.4% y-o-y, due to the 94% growth rate reported on the health insurance segment.
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Middle East & Africa Insurance Summit: Be a catalyst in the growth of your company
by oana.racatej@mxp.ro, 2015-11-26
As the market insurance in Middle East and Africa continues to expand and go through significant changes, Middle East & Africa Insurance Summit, now at its sixth edition, analyzes the latest trends, opportunities and challenges for the industry. The Summit takes place in Dubai, United Arab Emirates, between January 19 and January 20, 2016. XPRIMM Publications support the event as Media Partner.
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TRIGLAV signed a deal to sell its majority stake in AVRIGO for EUR 14.2 million
by vlad.boldijar@mxp.ro, 2015-11-25
Slovenian leading insurer Zavarovalnica TRIGLAV announced it has signed a deal to sell a 97.31% stake in AVRIGO - a Nova Gorica-based coach company to public transportation company Adventura Prevozi for EUR 14.2 million. The deal will be completed after obtaining an approval of the Competition Protection Agency of the Republic of Slovenia. The transaction is planned to be completed in the first half of 2016.
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November Business Meetings of Reinsurers in Moscow
by olesea.adonev@mxp.ro, 2015-11-24
The XIV edition of the November Business Meetings of Reinsurers took place between the 24th and the 25th of November, "Novaya Ploschad" Business-Center, Moscow, Russia. The event was organized by the Reinsurance Committee of the All-Russian Insurance Association and co-organized by DELOVOY Format Group. XPRIMM Publications supported the event as Media Partner, being represented by Oleg DORONCEANU, International Relations Director.
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| ANALYSIS |
 How can Kazakhstan become competitive in the WTO?
Kazakhstan's accession to the World Trade Organization (WTO) - is definitely a landmark event that will allow using the trade potential of the country with maximum benefits in the era of globalization. However, it is also important to protect the local market, including insurance one. According to Kazakh Association of Insurers (ASK), the competitiveness of domestic insurance market must be assessed not only in terms of business scale, the size of capital and assets, but also from the standpoint of equal or equivalent regulatory requirements.
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| INTERVIEW |
 Walter LEONHARTSBERGER-SCHROTT
CEO
WIENER Osiguarnje VIG
Croatia
The changes to the European insurance supervisory system referred to as Solvency II present great challenges for the whole insurance industry in Croatia, especially the risk assessment and future treatment of local Government Bonds denominated in foreign currencies.
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| CURRENT
REPORTS |
| ON THE MOVE |
ALLIANZ Russia announced management changes
by olesea.adonev@mxp.ro, 2015-11-25
ALLIANZ Group announced a series of management changes in its Russian subsidiaries, following the company's strategy aiming to develop ALLIANZ's business in Russia, according to the company's official statement.
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| STATISTIC
UPDATES |
| EVENTS |
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: finance.fleminggulf.com |
5th Annual Insurance Claims Management Conference
January 21-22, 2016
Prague, Czech Republic
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details: www.uni-global.eu
6th Annual Bancassurance Conference - Russia & CIS
February 4-5, 2016
Moscow, Russia
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details: www.uni-global.eu
9th Annual BancAssurance Forum
9-10 February 2016
Madrid, Spain
Media Partner: XPRIMM Publications
For details: finance.flemingeurope.com |
The European Motor Insurance Summit 2015
February 11-12, 2016
Rome, Italy
Media Partner: XPRIMM Publications
For details: finance.flemingeurope.com
Creating & Selling SME Insurance Products & Services
February 11-12, 2016
Prague, Czech Republic
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details: www.uni-global.eu |
Big Data & Analytics For Retail Financial Services
February 18-19, 2016
Prague, Czech Republic
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details: www.uni-global.eu
IIF 2016 - Motor Insurance - The Road towards profitability
April 17-19, 2016
Istanbul, Turkey
Organizers: Media XPRIMM and Istanbul Underwriting Center
Media coverage: XPRIMM Publications
For details: www.internationalinsuranceforum.com |
| PRESS
CUTTINGS |
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