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XPRIMM News No. 297, February 11, 2016

Insurance Newsletter, No. 297, February 11, 2016

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Romanian MTPL market opened up to insurers willing to use the freedom of services and freedom of establishment rights
by Mihai CRACEA, 2016-02-11
EU insurers willing to sell MTPL in Romania based on the freedom of services and freedom of establishment rights are now able to do so, after the Romanian Financial Supervisory Authority (ASF) approved, on the 9th of February, a draft amending Rule No. 23/2014 regarding compulsory MTPL insurance.

The European Motor Insurance Summit started today in Rome
by Daniela GHETU, 2016-02-11
Today began in Rome the 2016 edition of The European Motor Insurance Summit, organized by Fleming Europe. XPRIMM Publications are supporting the event as Media Partner.

Trust Re introduces aviation facultative reinsurance
by Mihai CRACEA, 2016-02-11
Trust Re has announced that as of February 2016, its service offering has expanded to include Aviation facultative reinsurance with a particular focus in areas where the company already operates, namely the Afro-Asian markets, including the MENA region, Russia, CEE, CIS countries, Cyprus and Turkey.
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Credit Europe Asigurari
UKRAINE: Despite the country's economic situation, GLOBUS VIG reported impressive growth in 2015
by Vlad BOLDIJAR, 2016-02-11
According to the preliminary data published by the Kyiv-based insurer GLOBUS Vienna Insurance Group (VIG), in 2015 the company has earned UAH 171.6 million (about EUR 6.5 million) in insurance premiums, 43.4% more y-o-y, while the number of concluded contracts totaled 351,468.

CHUBB names Continental Europe country presidents
by Vlad BOLDIJAR, 2016-02-11
CHUBB announced it has appointed the country presidents who will lead its operations in Continental Europe, with immediate effect. All country presidents will report to Jeff MOGHRABI, Division President, Continental Europe for CHUBB.

ALLIANZ is the best positioned insurer among the world's strongest brands in 2016
by Daniela GHETU, 2016-02-11
ALLIANZ, AXA, CHINA Life Insurance, Ping An and GENERALI are the Top 5 global insurers ranked in the Brand Finance Global 500 ranking of the most valuable insurance brands in this year's. Among them, ALLIANZ is the only insurer to be included in the Top 50 of the world's strongest brands in 2016.
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AON's FY2015 revenues down by 3% to USD 11.7 billion
by Vlad BOLDIJAR, 2016-02-11
AON Plc reported for the financial year 2015, total revenues of USD 11.7 billion, down by 3% y-o-y "due to a 6% unfavorable impact from foreign currency translation, partially offset by 3% organic growth in commissions and fees". By divisions, Risk Solutions total revenue decreased 5% to USD 7.4 billion and HR Solutions total revenue increased 1% to USD 4.3 billion. For the fourth quarter of 2015, AON reported flat revenue of USD 3.3 billion.

MMC reports higher revenue and profit in Q4 2015
by Vlad BOLDIJAR, 2016-02-11
MARSH & McLENNAN Companies (MMC) reported for the fourth quarter of 2015 consolidated revenues of USD 3.3 billion, an increase of 3% from the fourth quarter of 2014. Operating income rose 11% to USD 594 million, compared with USD 536 million in Q4 2014, while the net income attributable to the Company was USD 375 million, or USD 0.71 per share, compared with USD 294 million, or USD 0.54 per share, in the prior year.

STATISTICS: ESTONIA's insurance market is expanding steadily
by Vlad BOLDIJAR, 2016-02-11
Last year, the Estonian insurance market posted total gross written premiums of EUR 361.2 million, up by 6% y-o-y, according to FY2015 preliminary market figures published by the Estonian National Statistics Board. Claims paid during the period were up by 9.2% y-o-y to EUR 207 million. It's worth mentioning that the figures published by the Estonian National Statistics Board reflect the performance of Estonian insurers and other EU branches for the insured risks only in Estonia.
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In memoriam Alexandre BICHOT
It is with great sadness that we announce the passing of the well-known reinsurance specialist Alexandre BICHOT. Alexandre was a part of MILLI Re team, a company in which we held various positions. He will be missed. May he rest in peace


January 2016 Renewal Results: SCOR Global P&C continues to perform in lasting soft market conditions

BTA Baltic insurance group earns EUR 8 mln in 2015 profit

HUNGARY: Fairfax Financial Holdings unit takes over QBE branch

HUNGARY: VIG premiums revenue reaches HUF 63-65 bln

LATVIA: Motorists' mandatory civil liability insurers post EUR 11.7 mln in losses in 2015

MetLife Announces Fourth Quarter and Full Year 2015 Results

PartnerRe Ltd. Reports Fourth Quarter and Full Year 2015 Results

SLOVENIA: Securities Market Agency Decision on re-establising the suspended voting rights of Zavarovalnica Triglav d.d.

SLOVENIAN insurer Triglav completes sale of Avrigo unit to Adventura Prevozi

SLOVENIAN insurers could see lower capital ratios under Solvency II

Willis Towers Watson Reports Quarterly and Full-Year Results


Petar-Pierre MATEK
Croatian Financial Services Supervisory Agency (HANFA)

by Daniela GHETU
As this is the first year of Solvency II implemented in practice, we are focused on supervising insurance companies' risk assessment and risk management and reporting.

AZERBAIJAN FY 2014 & 1H2015
KAZAKHSTAN FY2014 & 1H2015
RUSSIA FY 2014 & 1H2015
TURKEY FY2014 & 1H2015
Ins. Report CEE, SEE & CIS ?€“ FY2014 & 1H2015
Motor Ins. Report FY2014 & 1H2015
Property Ins. Report FY2014


Estonia FY2015

The European Motor Insurance Summit 2015
February 11-12, 2016
Rome, Italy
Media Partner: XPRIMM Publications
For details:


Life Insurance Conference Russia 2016
February 18th, 2016
Moscow, Russia
Organizer: Business Summit of Future
Media coverage: 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:


Russian Reinsurance Conference
XX Edition
April 6-7, 2016
President Hotel, Moscow
Organizers: All-Russia Insurance Association & DELOVOY Format Group
Media coverage: 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:
FIAR 2016 - The International Insurance - Reinsurance Forum
May 15-19, 2016
Brasov, Romania
Organizer: Media XPRIMM
Media coverage: XPRIMM Publications
For details: