 Live from AIIF 2016 |
 AIIF 2016, starting today at Baku, analyzes the current status and the future perspectives of the Caucasus insurance markets
by Daniela GHETU, 2016-06-23
Today has started in Baku, Azerbaijan, the 7th edition of the Azerbaijan International Insurance Forum, organized by the Azerbaijan Insurers Association in partnership with XPRIMM, with the official support of the Financial Markets Supervision Authority of the Republic of Azerbaijan.
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 Rufat ASLANI: Developing the financial markets is a top priority for the Azeri government; the local insurance market can attract significant foreign investments
by Oleg DORONCEANU, Olesea ADONEV, 2016-06-23
"The financial markets' development in Azerbaijan is considered as a priority by the local government," Rufat ASLANI, Chairman of the newly established Financial Markets Supervision Authority of Azerbaijan. In fact, setting an integrated financial supervisory authority represents by itself one of the "economical reforms undertaken to support a sound, sustainable and effective development of the Azeri financial markets," including insurance.
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SIMONITI: There is no single best or worst institutional model to set a national financial supervisory body; independence and transparence may be crucial
by Oleg DORONCEANU, Olesea ADONEV, 2016-06-23
"A good supervision is one that allows financial markets to operate more smoothly and that reduces the risk of market disturbance by countering the inherent market failures, notably external effects and information asymmetries," stated Sergej SIMONITI, President of the Slovenian Insurance Supervision Agency, speaking at AIIF 2016.
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Mehmet Akif EROGLU: Transparency and independence from political pressure are crucial aspects of the supervising activity
by Oleg DORONCEANU, Olesea ADONEV, 2016-06-23
"Independence and transparency are crucial aspects for the efficient activity of a supervisory institution, considering its decision should be based only on financial stability criteria, in a transparent way which stimulated the public trust in the financial industry. The political class should abstain from interfering with the supervising bodies' activity," stressed out Mehmet Akif EROGLU, General Secretary, TSB - Insurance Association of Turkey.
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Jean-Francois DIET: Insurance will need to make the shift from an event base industry to an assistance one
by Oleg DORONCEANU, Olesea ADONEV, 2016-06-23
"We need to seriously think where is the insurance industry going in the next 10 - 20 years," cautioned Jean-Francois DIET, CEO, Europ Assistance (France), speaking at AIIF 2016, in Baku. "In my opinion, we are entering in a transition phase leading the insurance industry, not very far in the future, to transform from an event base or pure risk industry to a maintenance or assistance industry."
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Anastasia LITVINOVA, FITCH: The high exposure to the FX risks affected the non-life business in the CIS countries
by Oleg DORONCEANU, Olesea ADONEV, 2016-06-23
The common features of the CIS insurance markets are, in FITCH's opinion, the relatively small element of the local financial sectors, while insurance companies strongly depend on the external distribution and regulation. In addition, the market is highly exposed to the FX risks because the general trend across the region, of currency devaluation.
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Fuad KULIYEV, AZ Re: The Azeri insurance market saw a stable and sustainable development in 2015
by Oleg DORONCEANU, Olesea ADONEV, 2016-06-23
The Azeri insurance market saw a stable and sustainable development in 2015. Thus, comparing the 2015 and 2014 market results, one would see that total assets increased more than 21%, to AZN 1.01 billion, while Paid-up capital increased by 18%, to AZN 529.0 mln. The penetration rate reached to 0,82% compared to 0,73% in 2014, said Fuad KULIYEV, Chairman of the Management Board, AzRe Reinsurance, Azerbijan at AIIF 2016.
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Yusuf SATOGLU, TARSIM: Since inception, the pool collected premiums of USD 2.15 billion and paid losses of ISD 1.16 billion
by Oleg DORONCEANU, Olesea ADONEV, 2016-06-23
TARSIM, the Turkish agricultural insurance pool, collected premiums of USD 366 million in 2015, while in the first 5 months of 2016, GWP already reached USD 361 million, while the subsidies paid by the Government reached in both cases almost USD 200 million. Overall, between 2007 and 2015, the pool collected premiums of USD 2,156 million and paid losses of USD 1,162 million, explained Yusuf SATOGLU, General Manager, TARSIM, Turkey.
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| IIF 2016 in brief |
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NEWS |
EIOPA updates on the financial stability risks
by Mihai CRACEA, 2016-06-22
The European Insurance and Occupational Pensions Authority (EIOPA) published its June 2016 report on financial stability in the (re)insurance and occupational pension fund sectors of the European Economic Area.
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STATISTICS: HUNGARIAN insurers' GWP up by 2% in Q1
by Vlad BOLDIJAR, 2016-06-23
Hungarian insurance market totaled HUF 236.9 billion (EUR 754 million) at the end of March 2016, 1.84% less y-o-y, according to the statistics published by the Central Bank. The volume of paid claims by insurers remained stable at HUF 126 billion (EUR 400 million).
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STATISTICS: CROATIA Q1: Top 3 insurers accounted for more than half of market
by Vlad BOLDIJAR, 2016-06-23
According to the data published by the Croatian Insurance Bureau, in the first three months of the current year, the insurance market totaled HRK 2.52 billion (about EUR 336 million), 0.5% lower than in the 1Q2015.
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STATISTICS: ALBANIAN insurers GWP down by 2.7% y-o-y in Q1
by Vlad BOLDIJAR, 2016-06-23
The Albanian insurance market reached GWP of over ALL 2,939 million (EUR 21.2 million) for the period January-March 2016, or 2.70% less y-o-y. During the analysed period, the number of issued insurance contracts reached 222,422 showing a decrease of 1.29% y-o-y.
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Innolns-2016 brings into debate innovations in the insurance industry
by Adina TUDOR, 2016-06-17
The steadily growing impact of modern technologies on the global insurance business gives rise to radically new business models and services. Insurers are aggressively introducing innovations in all their sophisticated and versatile business processes. The Insurance Innovation Forum Innolns-2016 organized by the All-Russian Insurance Association (ARIA) aims to review positive international and domestic experience as well as to provide an insight into the latest technology advances.
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POLAND: AEGON takes over management of NORDEA pension fund
by Vlad BOLDIJAR, 2016-06-23
AEGON Poland has signed an agreement with a Nordic financial services firm, NORDEA to take over the management of NORDEA's Polish Pillar II pension fund. The deal will make AEGON Poland the fourth largest pension fund in the country. The deal is subjected to regulatory approval.
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| INSURANCE & TECHNOLOGY |
 Professional Requirements Engineering as a Key Factor for Successful Software Projects
In order to help your IT projects to succeed in time, budget, and scope, Requirements Engineering is a key success factor. Professional RE employed in a project or compa-ny-wide relies on trained Requirements Engineers. With increasing degree of maturity the use of IT tools built for Requirements Engineering become a critical factor in order to fully profit from automation aspects to save further costs and time.
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| ON THE MOVE |
 Aad VEENMAN appointed Chairman of ACHMEA Supervisory Board
Aad VEENMAN has been appointed Chairman of the Supervisory Board of ACHMEA with effect from 9 August 2016. The appointment is subject to clearance by the regulator. The Dutch Group announced that "due to health reasons, Erik van de MERWE at the same time - after the ACHMEA Supervisory Board has adopted the 2016 Half Year Results - will retire as Supervisory Board Chairman".
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| EVENTS |
Solvency 2 - Lessons Learned
September 6, 2016
Hotel Union Ljubljana, Slovenia
Organizer: AZN - Insurance Supervision Agency
6th Annual Managing Insurance Assets Conference
September 8-9, 2016
London, United Kingdom
Organizer: Marcus Evans
Media Partner: XPRIMM Publications
For details: marcusevans-conferences-paneuropean.com
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Claims Transformation Forum
September 13-14, 2016
London, United Kingdom
Organizer: IQPC - International Quality and Productivity Center
Media Partner: XPRIMM Publications
For details: claimstransformation.com
Les Rendez-vous de Septembre 2016
September 10-15, 2016
Monte Carlo, Monaco
XPRIMM Publications stand at Fairmont Hotel
For details: www.rvs-monte-carlo.com
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Chief Data Officer Forum Insurance 2016
September 15, 2016
Swissotel Chicago, Illinois, USA
Organizer: Corinium Global Intelligence
Media Partner: XPRIMM Publications
For details: www.chiefdataofficerinsurance.com |
| PRESS
CUTTINGS |
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XPRIMM REPORTS |
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