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XPRIMM News No. 293, January 14, 2016

Insurance Newsletter, No. 293, January 14, 2016

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BULGARIA: GENERALI's non-life unit has increased its market share to 9% after the acquisition of VICTORIA
by, 2016-01-14
The Bulgarian unit of Assicurazioni GENERALI has finalized the acquisition of local non-life insurer VICTORIA Insurance. After the merger's completition, the new entity will continue to serve clients under the GENERALI brand. The two insurers have mentioned in a common statement that all contracts already concluded with VICTORIA will remain effective under the same terms.
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SOGAZ transferred 50.1% of SOVAG's shares to GAZPROM Germania GmbH
by, 2016-01-14
SOGAZ has finalized the sale of the part of its German insurance subsidiary, SOVAG* to GAZPROM Germania GmbH (GAZPROM Germania). Thus, GAZPROM Germania GmbH became the majority shareholder, with a 50.1% stake of SOVAG. The transaction was approved by the German Federal Financial Supervisory Authority and the German Antimonopoly Service, said a company's statement.
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Russian reinsurers may lose business from China under the new legal requirements adopted by the local regulator
by, 2016-01-14
Russian re/insurers may lose incoming reinsurance business from China due to low sovereign rating of the Russian Federation, as China's Insurance Regulatory Commission has tightened its norms for the foreign partners.
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STATISTICS: CEE, 3Q2015: Slightly positive trend, envisioning a close to "0" growth for the year end
by, 2016-01-14
The CEE insurance market ended the first 3Q of 2015 with an aggregate GWP volume amounting to EUR 24.2 billion, by 0.48% higher y-o-y. Although most markets in the region saw a positive trend, the high growth rates recorded in the small markets hardly managed to offset the negative change in GWP recorded by Poland, the Czech Republic and Slovakia.
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Credit Europe Asigurari
STATISTICS: Motor insurance CEE: competitivity hinders the market growth potential provided by the increased cars sales
by, 2016-01-14
A visibly revigorated cars sales market supported the CEE motor insurance market in 3Q2105, providing for a larger customer base. However, the tough competition within the market hindered growth, resulting in a less than 3% increase both in the Motor Hull and MTPL GWP. Overall, motor insurance premium amounted to about EUR 7 billion, which is almost 29% of the overall CEE insurance business.
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STATISTICS: Property insurance in CEE: stagnant business levels, except for Poland and the Czech Republic
by, 2016-01-14
The property insurance classes (including class 8 "fire & allied perils" and class 9 "other damages to property") saw in 3Q2015 a mostly stagnant evolution in the CEE region, with insignificant y-o-y changes in the premium volume in all countries, except for Poland and the Czech Republic.
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Due diligence procedure for Romanian CARPATICA Asig
by, 2016-01-14
On January 11, 2016, the Romanian non-life insurance company CARPATICA Asig announced it has begun to go through a due diligence* procedure, during which a strategic investor interested in taking over the company will evaluate its financial, commercial and operational activities and indexes.
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ING Groups lowered its stake in NN Group to 16.2%
by, 2016-01-14
NN Group announced that ING Group has agreed to sell 33 million shares of NN Group at a price of EUR 31.00 per share. The transaction reduces ING Group's stake in NN Group from 25.8% to 16.2% of outstanding shares (net of treasury shares). NN Group will not receive any proceeds from the offering.
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Middle East & Africa Insurance Summit analyses the Middle East's insurance market
by, 2016-01-14
The 6th edition of the Middle East & Africa Insurance Summit seeks to offer its participants the basic knowledge necessary for understanding the characteristics of the continuously expanding local market, as well as insights regarding the available business opportunities. XPRIMM Publications support the event as Media Partner.

The 3rd "Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia" International Conference set to take place in Tbilisi, Georgia
by, 2016-01-14
The 3rd edition of the International Conference "Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia" will be held on April 11-13, 2016 in Tbilisi (Georgia) at the Marriott Courtyard Hotel, organized by AgroInsurance International LLC. XPRIMM Publications will support the event as Media Partner.
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ARMENIA: Median gross wage in Nov. 2015 amounted to 181,982 drams

AZERBAIJAN: Another insurance company joins CIB

Bloomberg predicts 2.5% economic growth in ARMENIA

KAZAKHSTAN: A.M. Best Assigns Ratings to Insurance Company London-Almaty JSC

KYRGYZSTAN: Insurance companies can insure all car owners in a short time

KYRGYZSTAN: CMTPLI tariffs still not approved

KYRGYZSTAN: Minimum amount of compulsory housing insurance in city is 1,200 soms per year

ROMANIA's Carpatica Asig daily gross written premiums up 43% in 2015

SERBIA's AIK banka enters ownership of Gorenjska banka

SERBIA: NLB Banka wants to develop pension insurance market

UniCredit to sell UKRAINE unit to ABH Holdings

UZBEK Finance Ministry issues licenses to five insurers

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


CEE Overall market data 3Q2015
CEE Life ins. data 3Q2015
CEE Non-life ins. data 3Q2015
CEE MTPL market data 3Q2015
CEE Motor hull ins. data 3Q2015
CEE Property ins. data 3Q2015

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:


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:


The Insurance Summit 2016
February 25, 2016
London, United Kingdom
Organizer: Economist Events
Media Partner: XPRIMM Publications
For details:
AIF2016 - 2nd Annual African Insurance Forum 2016
March 3-4, 2016
Johannesburg, South Africa
Organizer: FEXTON Group
Media Partner: XPRIMM Publications
For details:


3rd Annual European Payment Forum
March 3-4, 2016
Amsterdam, Netherlands
Organizer: Global Leading Conferences
Media Partner: XPRIMM Publications
For details:
IIF 2016 - Motor Insurance - The Road towards profitability
April 17-19, 2016
Istanbul, Turkey
Organizers: Media XPRIMM and IUC
Media coverage: XPRIMM Publications
For details:


President: Sergiu COSTACHE CEO: Adriana PANCIU
Managing Partner: Alexandru D. CIUNCAN
Development Director: Mihaela CIRCU

Project Manager XPRIMM.COM: Daniela GHETU
Coordinating Editor: Mihai CRACEA
International Column Coordinator: Vlad BOLDIJAR
CIS Research Consultant: Olesea ADONEV
Senior Editor: Oleg DORONCEANU, Andreea RADU
Editors: Oana RADU, Adina TUDOR
Customer Relations Director: Georgiana OPREA
IT Department: Octavian GRIGOR, Dorin PALADE, Cosmin ARMASESCU


Reproduction or use without permission of editorial or graphic content, in any manner, is prohibited. The Editorial Staff is not responsible for the truthfulness or the accuracy of the presented data. The Editorial Staff has the right to present the data in it's own manner. In what concerns the use, in any manner, of the information contained in this e-mail, Romanian laws apply.

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