 TOP
NEWS |
Reinsurance Management - C Consulting's story
In 2000, Aldo CAPURRO, the founder and main shareholder of C Consulting S.p.A. with offices in Genoa and Milan, decided to invest his many years of experience in IT and insurance (as well as reinsurance). Together with a group of partners that same year he started developing a system (XLayers) designed to manage, control and certify outward reinsurance. He managed to sign up his first Italian clients in the following two years. At that time, the majority of ceding companies managed this delicate process manually. And even today this is still the case in a number of companies, including international companies. And this is despite the fact that even back then the impact of reinsurance on the balance sheet and on the company's solvency was unquestionably of significant importance. The fact that today C Consulting has more than 50 companies as clients must mean that their senior management understood this.
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Modelling a fast changing risks landscape - do's and don'ts from the P&C industry leaders
by Daniela GHETU, 2016-05-05
"The modelling of emerging and casualty catastrophe risks remains challenging and the models continue to vary in their approach, level of development and industry acceptance," says Guy Carpenter in a recent article. Climate change is only one of the factors increasing the existing model's shortening lifetime, as not only the risks are changing, but also the world their affecting. In short, a permanent upgrade, if not complete change, is needed.
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ADRIS Group annouced the completion of the 1st phase of restructuring of CROATIA Osiguranje
by Vlad BOLDIJAR, 2016-05-05
In 2015 CROATIA Osiguranje group recorded GWP in the amount of HRK 2.97 billion (~EUR 389 million), 3.5% up y-o-y, the insurer's main shareholder - ADRIS Group annouced on its website. At the same time, CO group reported a consolidated net profit of HRK 110 million in 2015 (~EUR 14.4 million), compared to a loss of HRK 465 million in 2014 (~EUR 60.7 million), while the combined ratio was improved by 13.1% to 103.8%.
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STATISTICS: KOSOVO, 1Q2016: Voluntary policies drove the market growth
by Vlad BOLDIJAR, 2016-05-05
At the end of March 2016, the Kosovo insurance market totaled EUR 18.50 million - 2.56% more y-o-y, according to the market statistics published by the Central Bank of Kosovo - CBK. During the reported period, claims paid by insurers totaled EUR 8.20 million, down by 8.71%.
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 "10th MILLI Re Reinsurance Seminar" successfully completed
by Vlad BOLDIJAR, 2016-05-04
"10th MILLI Re Reinsurance Seminar", organized by MILLI Re under its strategy of expanding to foreign markets, has been successfully realized between the dates 25-27 April 2016 with a total of 17 participants from Azerbaijan, Bahrain, Ethiopia, Iran, Kazakhstan, Kuwait, Pakistan, Qatar, Romania, Saudi Arabia, Sri Lanka, Tunisia and Ukraine.
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ALLIANZ targets an operating profit of EUR 10.5 billion in 2016
by Vlad BOLDIJAR, 2016-05-05
ALLIANZ Group announced it achieved 1Q2016 total revenues of EUR 35.4 billion, 6.4% less y-o-y. Operating profit reached EUR 2.8 billion (a decrease of 3.5% ), while net income attributable to shareholders was EUR 2.2 billion, "which is 20.5% above the year-earlier figure, driven in part by non-operating realized gains", the German insurer pointed out in a statement.
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GENERALI's top management for the years 2016-2018
by Vlad BOLDIJAR, 2016-05-05
Last week, the Shareholders' Meeting of Assicurazioni GENERALI S.p.A has approved the financial statements for the year 2015, reporting a net profit of EUR 2,030 million. At the same time, the distribution to the shareholders of a dividend of EUR 0.72 per-share (to be paid as from 25th May 2016) was announced, while the Board of Directors confirmed the top management for the next three years 2016-2018.
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Swiss Re reports Q1 net income of USD 1.2 billion, while the premium income rises to USD 7.9 billion
by Vlad BOLDIJAR, 2016-05-05
Swiss Re reported strong net income of USD 1.2 billion for the first quarter, below the USD 1.4 billion reported in the prior-year period. "The result reflects continued good underwriting discipline and higher income from Life Capital", as the reinsurer announced in a statement.
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AON Q1 net income declined 4% to USD 315 million
by Vlad BOLDIJAR, 2016-05-05
The risk and insurance brokerage services provider AON reported a net income attributable to shareholders of USD 315 million (or USD 1.15 per share ) for the first three months of the year, compared to USD 328 million (USD 1.14 per share), for the prior year quarter.
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MMC reported slight decline in Q1 operating income
by Vlad BOLDIJAR, 2016-05-05
The MARSH & McLENNAN Companies (MMC) reported for 1Q 2016 consolidated revenues of USD 3.3 billion, 4% up y-o-y. The operating income was ofUSD 733 million (vs. USD 735 million in 1Q2015), while the net income attributable to the Company was of USD 481 million (vs. USD 482 million): "On a per share basis, net income attributable to the Company rose by 3%, to USD 0.91 from USD 0.88 last year", the company noted in the press release.
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ARIA: The date of the 14th International Insurance Conference "Russian Insurance Summit
by Olesea ADONEV, 2016-05-05
The 14th International Insurance Conference "Russian Insurance Summit 2016" will be held on June 8, 2016 in Moscow, Russia, organized by the All-Russian Insurance Association (ARIA) with the support of the Central Bank of Russia. Traditionally, XPRIMM Publications will support the event as Media Partner.
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| ANALYSIS |
 Welfare Insurance & CIS Region
Although Welfare Insurance is a new term, it is requirement that needs to be addressed on a priority bases. Financial inclusion, mass health and mass accident policies, mass/ group life insurance policies, agriculture & cattle insurance, etc. are common in insurance industry.
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| PRESS
CUTTINGS |
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| TOP EVENT |
 FIAR 2016 - 10 days to the opening day of the most important European insurance spring event
Kurt KARL, Chief Economist, Head ER&C - Managing Director, Group Strategy, SWISS Re and Misu NEGRITOIU, President, ASF - Financial Supervisory Authority, are the Keynote speakers of the Insurance Market Trends
Conference, which will take place at Brasov, on May 17th, within the
19th edition of FIAR - The International Insurance-Reinsurance Forum.
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| STATISTIC
UPDATES |
| EVENTS |
2nd Annual Global Insurance Distribution & Bancassurance Conference
May 12-13, 2016
Munich, Germany
Organizer: C-parity
Media Partner: XPRIMM Publications
For details: www.c-parity.com
4th Annual Operational Excellence in Insurance Forum
May 12-13, 2016
Amsterdam, the Netherlands
Radisson Blu Hotel
Organizer: Fleming
Media partner: Xprimm Publications
For details: www.fleming.events
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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
2nd Annual Credit Risk Management Forum
May 19-20, 2016
Amsterdam, the Netherlands
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details: www.glceurope.com |
TARSIM International Agricultural Insurance Symposium
June 2-3, 2016
Istanbul, Turkey
Organizer: TARSIM - Agricultural Insurance Pool of Turkey
For details: iais.tarsim.gov.tr
4th Annual Insurance Claims Forum
June 2-3, 2016
Prague, Czech Republic
Organizer: Fleming
Media partner: Xprimm Publications
For details: www.fleming.events |
| ON THE MOVE |
 Swiss Re: Moses OJEISEKHOBA to become CEO Reinsurance, Jayne PLUNKETT to succeed him as Regional President and CEO Reinsurance, Asia
Following the Group's announcement concerning CEO's Michel M. LIES retirement, after four successful years and his replacement by Christian MUMENTHALER, currently CEO Reinsurance, as of 1 July 2016, Swiss Re's Board of Directors decided that Moses OJEISEKHOBA (49, Nigerian and British), currently Regional President and CEO Reinsurance, Asia and a member of the Group Executive Committee, will become the new CEO Reinsurance.
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| CURRENT
XPRIMM REPORTS |
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