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XPRIMM News No. 300, March 3, 2016

Insurance Newsletter, No. 300, March 3, 2016

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Kurt KARL, one of the most accurate economists in the world, confirmed as Keynote Speaker at FIAR 2016
by Oana RACATEJ, 2016-03-02
Kurt KARL, Chief Economist and Head of the Economic Research and Consulting within SWISS Re, as well as Coordinator of the well-known SIGMA publications, has confirmed his participation as Keynote Speaker at FIAR 2016. Kurt KARL is recognized worldwide for his professional skills, being nominated by important economic publications among the top economists globally with the most accurate financial estimates.

IoT - Internet of Things technology in support of the motor insurance business, on the IIF 2016 agenda, with IBM
by Daniela GHETU, 2016-03-03
"Value added services are already becoming very important and IoT technologies may help insurers, on the one hand to provide such personalized services, on the other to improve their core business processes and achieving significant operating costs reductions," recently stated in an interview for XPRIMM Dante CAFARELLI, Partner and Executive, Head of Insurance Sector Italy, Internet of Things Insurance Leader Europe, IMB Italy.

STATISTICS: LATVIA, FY2015: Life insurance growth outpaced the market GWP increase rate
by Daniela GHETU, 2016-03-03
Latvian insurers ended 2015 with an overall GWP volume reaching EUR 531.12 million, 2.65% up y-o-y. Paid claims also increased to EUR 310.61 million, 9.85% more y-o-y recording a higher than average growth rate, the life insurance segment increased its share in the market portfolio by 1 pp, to 21.6%.

JLT, FY2015: total revenues up by 5% y-o-y despite the deteriorating macro-economic landscape
by Daniela GHETU, 2016-03-02
Jardine Lloyd Thompson Group plc (JLT) has delivered total revenues of GBP 1.16 billion, 5% up y-o-y (or 6% at constant rates of exchange), with overall organic revenue growth of 2%.This performance was delivered despite the weak re/insurance rating environment and the deteriorating macro-economic landscape throughout the year.

TRIGLAV Group, FY 2015: Consolidated leading position in Slovenia and the Adriatic region and improved ratings
by Daniela GHETU, 2016-03-03
The TRIGLAV Group and the parent company reported a total GWP volume of EUR 919.1 million, is 3% up y-o-y, according to the unaudited performance data released today. The Group also achieved a favourable combined ratio of 92.8%, which is 3.5 pp better than planned and better than in 2014, while the net profit went up by 4% y-o-y, to EUR 88.9 million.

Credit Europe Asigurari
STATISTICS: SLOVAK Rep., NBS: The insurance market went down by 4% in 2015
by Vlad BOLDIJAR, 2016-03-03
Last year, the Slovak insurance market totaled EUR 2 billion, down by 4.1% y-o-y, as the preliminary statistics published by the National Bank of Slovakia (NBS) indicated. The life insurance field decreased by 9.6% y-o-y due to the 18% depreciation of unit-linked subsegment, while the non-life GWP was up by 2.8% to EUR 965 million.

Hungary: Third year of positive evolution for the insurance market, according to MABISZ's statements
by Daniela GHETU, 2016-03-03
Hungary's insurance sector posted 2.2% y-o-y annual GWP growth in 2015, Anett PANDURICS, President of MABISZ stated at a specialty conference organized in Budapest. As reported by, the Hungarian insurance market has expanded for the third year in a row, reaching HUF 851 billion, according to the central bank's statistics.

SCOR, FY 2015: Net income improved by 25.4%
by Vlad BOLDIJAR, 2016-03-02
The French reinsurer SCOR reported a 25.4% y-o-y increase in the net income, to EUR 642 million, in 2015 while the value of gross written premiums went up by 18.6% y-o-y, to EUR 13.42 billion "driven by the contribution of the two business divisions", the company annouced in a statement.

AXA, FY2015: 12% rise in full-year profit
by Vlad BOLDIJAR, 2016-03-02
The French insurer AXA reported total FY 2015 revenues of EUR 98.5 billion, up by 7% y-o-y, while the net income increased by 12% to almost EUR 5.6 billion, according to the activity indicators published by the group.


RUSSIA: The new rules on foreign rating companies could make the "Big 3" ratings agencies to re-evaluate their strategy
by Olesea ADONEV, 2016-03-02
In a statement released to Bloomberg Business Fitch Ratings Ltd. said "it will probably stop issuing local ratings on Russian companies under new rules that make it impossible to abide by European Union and U.S. sanctions against Moscow".

Find out how to differentiate SMEs and Retail Customers in Credit Rating Systems
by Oana RACATEJ, 2016-03-02
The 2nd Annual Credit Risk Management Forum is the conference where professionals can find out everything they need to know about Credit Risk Management, as well as the latest insights on the most recent developments of EU Regulations.

Green Card policies issued by Azerbaijani insurers gain extended territorial coverage
by Daniela GHETU, 2016-03-03
Starting April 1st, Green Card insurance policies issued by the Azeri insurers will be effective in the EU countries and Switzerland, Tunisia, Bosnia and Herzegovina, Macedonia, Montenegro, Turkey, Iran, Moldova, Ukraine, Andorra, Albania and Morocco.

The Annual African Insurance Forum began today in Johannesburg
by Oana RACATEJ, 2016-03-03
The 2nd Annual African Insurance Forum - AIF 2016, organized by FEXTON Group, officially began today, March 3, in Johannesburg, South Africa, focusing on the issues that the African general and life insurance sectors are facing today. XPRIMM Publications support the event as Media Partner.


BIPAR's EU Standing Committee

My experience over the years has led me to come to the firm conviction that most if not all of the significant consumer type issues that have arisen in various markets over the last decade were not as a result of inadequate regulation but the ineffective implementation of existing legislation. So my advice is use the powers that exist as they are in my opinion fit for purpose and stop adding to the sum of existing regulations which as they expand are becoming more and more remote and an ever increasing cost which is being borne by consumers and by the economy at large.

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

Wolfgang HAAS appointed Group Spokesperson at VIG

Wolfgang HAAS MSc (50) joins the VIENNA Insurance Group from the Corporate Communications department at DONAU Versicherung as of 1 March 2016. He takes over the post of Group Spokesperson and will also head the Group Communications and Marketing department.


Latvia FY2015
Slovakia FY2015

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:


3rd International Conference "Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia"
April 11-13, 2016
Marriott Courtyard Hotel, Tbilisi, Georgia
Organizer: AgroInsurance International LLC.
Official Publication: XPRIMM Publications
For details:


X International Conference "Insurance in Central Asia"
April 12-13, 2016
Almaty, Kazakhstan
Organizer: InterConsult Info with the support of the Kazakhstan Association of Insurers
Official Publication: 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:

Achmea net profit increases to EUR 386 million

BOSNIAN unit of UNIQA insurance group doubles net profit in 2015

ERGO's insurance operations in Baltics grow 14% in 2015

HUNGARY: MNB could introduce cost limits on unit-linked life insurance products

KAZAKHSTAN: Fitch Upgrades AMANAT Insurance's National IFS to 'BB+(kaz)'; Affirms IFS at 'B'

LATVIA: Balta insurer closes 2015 with profit of EUR 1.19 mln

MOLDOVA: Green Paper system is available for yet three months

NN Group nominates Supervisory Board members for reappointment

ROMANIA's Allianz-Tiriac gross written premiums rise 7.2% in 2015

ROMANIA: Life insurer NN Asigurari ups gross written premiums by 2.4%

RUSSIA: Central Bank revoked the licenses of three insurance companies

TURKISH authorities to sell or liquidate troubled Bank Asya