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NEWS |
British insurers' experience with whiplash claims under review at the motor insurance conference in Istanbul
by Daniela GHETU, 2016-03-10
Nearly 1200 whiplash claims are made every day in the UK, with British insurers currently paying out nearly GBP 2 billion a year on whiplash which is difficult to diagnose and almost impossible to disprove, says a report released by ABI - Association of British Insurers*. Thus, whiplash claims represent 78% of the total bodily injury claims in UK, the highest percentage among the most relevant European insurance markets.
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PZU takes further steps in becoming Poland's fifth largest bank
by Daniela GHETU, 2016-03-10
The Polish leading insurer PZU seems to be taking further steps in developing its plans to play a significant part in the Polish banking system's consolidation and simultaneously to find a new growth reservoir for its future development. Thus, as reported by Reuters, ALIOR Bank, owned by PZU, is in talks to buy its rival Bank BPH from General Electric and hopes to complete a deal around mid-2016.
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 Solvency II - A New Era for European Supervision
"15 years ago it was a revolutionary system, and now it is still unique on the global level". This is the best description of the Solvency II regime, as mentioned by EIOPA's Head of Regulations Manuela ZWEIMUELLER today during the "Solvency II: Ready, Steady, Go" event organized by the European regulator on 10 March 2016 in Frankfurt, Germany to mark the beginning of a "New Era".
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STATISTICS: HUNGARY, FY2015: consolidated market profitability and steady growth in the GWP
by Daniela GHETU, 2016-03-10
Hungarian insurers ended 2015, according to the preliminary data published by the National Bank of Hungary (NBH), with an aggregated GWP volume of EUR 2.72 billion, 2.67% up y-o-y. In local currency, total GWP amounted to HUF 851.43 billion, 2.1% up y-o-y. The market's contract portfolio increased by 5.8% relative to the end of the previous year
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STATISTICS: ROMANIA, FY 2015: 8.22% GWP increase, reversing the last years' negative trend
by Daniela GHETU, 2016-03-10
According to data recently presented by the Romanian Financial Supervising Authority (FSA), the Romanian insurance market ended 2015 with GWP of EUR 1.97 billion, 8.22% up y-o-y. The total figure includes GWP by ASTRA in the first half of the year, before triggering the bankruptcy proceedings of the company. Disregarding the ASTRA results both for 2015 and 2014, the market growth stood at about 14.3% y-o-y.
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STATISTICS: MONTENEGRO, FY2015: 6.24% growth in GWP, mostly driven by the "damages to property" insurance line
by Daniela GHETU, 2016-03-10
The insurance market of Montenegro saw a 6.24% y-o-y growth in GWP, to EUR 76.9 million. The non-life insurance segment had the largest contribution to the market growth, reporting GWP of EUR 64 million, 6.93% up y-o-y. Non-life insurance lines account for 83.2% of the total GWP.
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HANNOVER Re, FY 2015: EUR 1.15 billion in profit confirms the best financial year in the company's history
by Daniela GHETU, 2016-03-10
The general climate for reinsurers will remain challenging in 2016, marked by the fierce competitive intensity or the low interest rate level, is HANNOVER Re's forecast for the near future. However, considering its very good positioning in the market, the high quality of its loss reserves and its low expense ratio, the company considers itself well-placed to generate Group net income of at least EUR 950 million, if no exceptional major loss expenditure or distortions on capital markets will occur.
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The 5 main trends that affected the Russian insurance market in 2015
by Daniela GHETU, 2016-03-10
In 2015, the volume of the Russian insurance market has fallen, adjusted with inflation rate. But even the nominal growth, of about 3%, was possible only due to MTPL tariffs increase. The crisis has significantly affected the current state of the Russian insurance market because of the drastic fall in the purchasing power, decrease in the volume of cars' sales, as well as the clear intention of the companies to cut costs and give up on insurance.
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| INSURANCE & TECHNOLOGY |
 Mauro CANTONI
Vice President Insurance
OCTO Telematics S.p.a.
I would say, particularly for the CEE region, where there is a harsh competition and pressure on prices, that introducing telematics may introduce a variable which allows insurers to no longer compete only in terms of price. At the moment, every proposition is more or less the same, but introducing a variable you shift the competition from a price one to value one, introducing a unique selling proposition, also helping the market to make a step forward.
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| INTERVIEW |
 Joe LOUWAGIE
Assistant Vice President
Property Claim Services
While the exposure to natural or man-made catastrophes in CEE is varied, all countries can benefit from receiving industry-leading cat planning and response data and best practices from PCS benchmarking reports. In addition, PCS would foster education and information sharing by bringing speakers from the global market to the CEE through close work with XPRIMM. PCS is also part of a broader company called VERISK Analytics, and there are numerous VERISK solutions that could have great benefit to CEE insurance markets.
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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: ins-df.com |
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: www.agroinsconf.com |
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: www.allinsurance.kz
The 12th International Risk Management Conference
April 14-15, 2016
Almaty, Kazakhstan
Organizer: Eurasia Insurance Company JSC
Official Publication: XPRIMM Publications
For details: www.IRMC.kz |
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: www.internationalinsuranceforum.com
FIAR 2016 - The International Insurance - Reinsurance Forum
May 15-19, 2016
Brasov, Romania
Organizer: Media XPRIMM
Media coverage: XPRIMM Publications
For details: www.fiar.ro |
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