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XPRIMM News No. 310, May 12, 2016

Insurance Newsletter, No. 310, May 12, 2016

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ALLIANZ: Strong start in 1Q2016; confirmed expectations for a EUR 10.5 billion full year operating profit
by Daniela GHETU, 2016-05-12
ALLIANZ Group achieved strong results in the first quarter of 2016 in a continued challenging environment. Net income attributable to shareholders rose by 20.5% to EUR 2.2 billion, driven in part by non-operating realized gains. "The first quarter represented a great start to the year. We are well on our way towards achieving our operating profit target in the range of EUR 10.5 billion, plus or minus EUR 500 million for the entire year," said Dieter WEMMER, CFO of ALLIANZ SE.

Solvency II and capital efficiency. A basic problem and its solution. Today. How XLayers by C Consulting easily solves the problem
Enrico LERZA, CCI - Director of Reinsurance consulting & Business development
What is the objective behind the latest Solvency II in just a few words? To provide transparency to the consumer. And to guarantee that the insurance sector can be trusted to keep its promise, or, in other words, guarantee to the consumer a choice between the various products available without also having to question the trustworthiness of the insurer promoting these offers. The guarantee of the solvability of the insurance company is therefore at the very basis of everything.

HANNOVER Re's expectations for 2016 income after taxes close to EUR 1 billion
by Daniela GHETU, 2016-05-12
HANNOVER Re anticipates stable or slightly lower gross premium as well as net income after tax of at least EUR 950 million for the full 2016 financial year. This is conditional on major loss expenditure not significantly exceeding the budgeted level of EUR 825 million and assumes that there are no unforeseen distortions on capital markets.

Decrease of the MTPL commission affected Romanian brokerage market
by Andreea RADU, 2016-05-12
"Decrease of the commission of unprofitable lines, such as MTPL, is the one of the main adjustments which affected brokerage market most. As in the first glance, decreases on the commission might seem as a threat in the market but we are believing that this is a great opportunity for the insurers and brokers to create a synergy in order to design new products and projects which will increase the attention of the end users, which is policy holders, to the insurance market", said Cagatay ULUDAG, Deputy General Manager, CREDIT EUROPE Asigurari.
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Credit Europe Asigurari
Which are the main challenges of the global reinsurance market?
by Andreea RADU, 2016-05-12
Key challenges of the global reinsurance market in 2016 include rising competition, generally soft pricing conditions and tight profit margins, said TRUST Re's representatives, adding that, to effectively overcome these problems, many reinsurers are investing in technological solutions aiming to improve service offering, utilisation of analytics and to enhance operational efficiency and expense management.

AXA, 1Q: Revenues kept on the rise by P&C and International Insurance Divisions
by Vlad BOLDIJAR, 2016-05-12
French insurer AXA reported total revenues of EUR 31.8 billion for the 1Q2016 period, up by 1% y-o-y, "mostly driven by growth in Property & Casualty and International Insurance", as the company announced in a press release.

CEGEDIM's specialists talk about IT solutions for health insurers at FIAR 2016
by Adina TUDOR, 2016-05-12
What do health insurers need from a modern software platform? Which are the latest innovations implemented by IT solutions for the health insurance segment? These are only a few of the topics analyzed by Olivier PERRARD, International Sales Executive, CEGEDIM, during the Life and Health Insurance Conference at FIAR - The International Insurance-Reinsurance Forum 2016.

PZU, 1Q2016: The upswing in average motor insurance premium boosts GWP increase
by Daniela GHETU, 2016-05-12
In Q1 2016 the PZU Group collected gross written premium totaling PLN 4,800.6 million (~EUR 1.12 billion), i.e. 2.6% more than in the corresponding period of 2015, ammounced today the Polish market leader. The 29.5% spike in motor insurance premium income in the corporate client segment and the 20.0% growth in premium income in the mass client segment were particularly visible.

GENERALI 1Q2016: Operating return exceeding the 13% RoE target
by Daniela GHETU, 2016-05-12
GENERALI Group recorded a 6.4% growth of Life net cash inflows (premiums collected net of claims and benefits paid) to over EUR 4.5 billion and the further improvement in the P&C technical result, with a combined ratio at 92% (-1.3 p.p.). The total premium income is broadly in line at EUR 19.7 billion (-1.1%; EUR 20.1 bln 1Q15).


SAMPO Group's P&C insurance operations saw improved proftability in 2015
by Daniela GHETU, 2016-05-12
Profit before taxes for January-December 2015 for the P&C insurance operations of the Finish SAMPO Group increased to EUR 960 million (931). Combined ratio improved to 85.4% (87.7) while risk ratio deteriorated to 66.6% (65.1). Excluding the non-recurring items, combined ratio for 2015 was 86.5%.

Shareholders of TALANX AG approve another dividend increase
by Vlad BOLDIJAR, 2016-05-12
The shareholders of TALANX AG have approved by a large majority all resolutions proposed by the Board of Management and Supervisory Board. At yesterday's Annual General Meeting, they voted for the payment of a EUR 1.30 (1.25) dividend per share. Based on the 2015 average share price, this corresponds to a dividend yield of 4.6%. The dividend has therefore increased in every financial year since the IPO in 2012.

RMS: Kumamoto earthquake's insured losses may amount to USD 1.2 billion
by Daniela GHETU, 2016-05-12
Insured losses for the moment magnitude (Mw) 7.0 earthquake in Japan's Kumamoto Prefecture on April 15 may reach between USD 800 million and USD 1.2 billion, according to RMS estimations. The RMS insurance loss estimate is based on assumed insurance penetration rates and includes insured physical damage to property due to ground-shaking, fire following earthquake and liquefaction.

Hamilton Insurance Group opens new offices for Lloyd's operations
by Daniela GHETU, 2016-05-12
Hamilton Insurance Group ('Hamilton'), the Bermuda-based holding company for insurance and reinsurance operations that underwrite property and casualty risks on a worldwide basis, has announced the opening of new offices in London to support its growth in the Lloyd's market.

Welfare Insurance. The Purpose of Insurance is to reach the last man in society

As we all know the history of insurance, the purpose of insurance was to protect ship-owners in time of difficulty. But we do not have data to validate how much ship-owners population was covered. I received many emails after the first thoughts on welfare insurance were out. While interacting with some intellectuals, a point came up that the penetration of insurance is low, because of the cost.

Chubb Reports First Quarter Operating EPS of USD 2.26 Versus USD 2.25 Prior Year

KAZAKHSTAN: A.M. Best Revises Outlook to Negative for Victoria Insurance Company JSC

MetLife Announces First Quarter 2016 Results

RSA Insurance may beat 2016 analyst profit forecasts

RUSSIA: Four insurance companies remained without the licenses

RUSSIA: Major insurance companies have reduced prices for hull

TURKEY's Bank Asya sale or liquidation to take place by end May

Willis Towers Watson Reports First Quarter Earnings
JLTFIAR 2016 - 3 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.


President of the Managing Board
EURASIA Insurance Company

There are lots of rating agencies in the world; there are good agencies in Japan, in Europe and in other countries. But four rating agencies - Standard & Poor's, Fitch Rating's, Moody's and AM Best - are familiar to everybody. To us, a rating from such an agency is a "pass" into the world of international insurance and reinsurance, which allows us to work in all countries from Kazakhstan. These agencies employ highly skilled professionals who understand the situation both in the world economy and in the economy of Kazakhstan.



Estimates suggest the cyber market alone could triple in size over the next five years. Fresh thinking also needs to be applied to difficult questions surrounding new technologies such as driverless cars, cloud computing, 3D printing, the internet of things, nanotechnology, "sharing economies", drone proliferation and a host of other issues which will require risk-transfer mechanisms.

FIAR 2016 - The International Insurance - Reinsurance Forum
May 15-19, 2016
Brasov, Romania
Organizer: Media XPRIMM
Media coverage: XPRIMM Publications
For details:
2nd Annual Credit Risk Management Forum
May 19-20, 2016
Amsterdam, the Netherlands
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details:

TARSIM International Agricultural Insurance Symposium
June 2-3, 2016
Istanbul, Turkey
Organizer: TARSIM - Agricultural Insurance Pool of Turkey
For details:
4th Annual Insurance Claims Forum
June 2-3, 2016
Prague, Czech Republic
Organizer: Fleming
Media partner: Xprimm Publications
For details:

9th Tashkent International Insurance and Reinsurance Forum
June 1-4, 2016
Intercontinental Tashkent Hotel
Tashkent, Republic of Uzbekistan
Organizer: SAIPRO Information Rating Agency in cooperation with General Arab Insurance Federation
Media Partner: XPRIMM Publications
For details:
Russian Insurance Summit
June 8, 2016
The Ritz-Carlton Hotel,
Moscow, Russia
Organizer: All-Russian Insurance Association (ARIA)
Media Partner: XPRIMM Publications
For details:



AZERBAIJAN FY 2014 & 1H2015
KAZAKHSTAN FY2014 & 1H2015
TURKEY FY2014 & 1H2015
Ins. Report CEE, SEE & CIS – FY2014 & 1H2015
Motor Ins. Report FY2015
Property Ins. Report FY2014