 TOP
NEWS |
 VIG's market share in the Serbian market to increase at 11.5% after buying AXA's local subsidiaries
by Daniela GHETU, 2016-07-07
VIENNA Insurance Group (VIG) has signed on July 6th the purchase agreement for acquisition of the non-life company AXA Nezivotna Osiguranje a.d.o. Beograd and life company AXA Zivotno Osiguranje a.d.o. Beograd (AXA Serbia). The purchase will increase VIG's market share in Serbia to around 11.5%. The acquisition is subject to approval by the local authorities.
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"Solvency II Lessons Learned" - discussed in September, in Ljubljana
by Daniela GHETU, 2016-07-07
The introduction of Solvency II, starting January 2016, represents the biggest shift in the insurance regulation in several decades. the challenges arising from this shift ranging from financial, organisational, legal, operational, to systemic risks. The "Solvency II Lessons Learned" conference, organized by the Slovenian Insurance Supervision Agency, aims to exchange views on the first lessons learned in this respect.
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EIOPA to launch EU-wide thematic review on market conduct
by Daniela GHETU, 2016-07-06
The European Insurance and Occupational Pensions Authority (EIOPA) is launching an EU-wide thematic review of market conduct among insurance companies operating in the unit-linked life insurance market. The review aims to cover 60% of each national market in terms of both gross written premiums and assets of unit-linked funds. The purpose of the review is to identify potential sources of consumer detriment stemming from the relationships between insurers and providers of asset management services.
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STATISTICS: SLOVENIA, Q1: 1.3% aggregate growth-rate despite the 3% decrease of life GWP
by Vlad BOLDIJAR, 2016-07-07
According to data published by the Slovenian Insurance Association, in Q1 2016 the local market totaled EUR 554 million, 1.3% more y-o-y. Non-life insurance saw a growth rate of 2.7%, while the life segment reported a negative dynamic: -2.8%.
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SAVA Re's long-term insurer financial strength and counterparty credit ratings by S&P affirmed to A; stable outlook
by Daniela GHETU, 2016-07-05
S&P Global Ratings said on July 4th it has affirmed its 'A-' long-term insurer financial strength and counterparty credit ratings on Slovenia-based insurer Pozavarovalnica SAVA d.d. (SAVA Re). The outlook remains stable.
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Slovenian insurer TRIGLAV Group's core entities upgraded to 'A' on strengthened risk positions; outlook stable
by Daniela GHETU, 2016-07-05
Strengthening domestic demand, ongoing fiscal consolidation, and lower financial system risk has lowered country risk for Slovenian insurers, in S&P's opinion. As a result, the rating agency has positively reassessed Slovenia-based multiline insurer TRIGLAV Group's business risk profile to strong from satisfactory.
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Crop insurance seminar in Torun, Poland
by Daniela GHETU, 2016-07-05
Between June 27th and 29th, 2016, Polish Reinsurance Company (POLISH Re) together with CONCORDIA Insurance organized an underwriting and claims handling seminar dedicated to crop insurance, which took place in Torun, the city in the northern part of Poland. The seminar gathered more than 50 people, representatives of 10 insurance markets, such as: China, Azerbaijan, Turkey, Ukraine, Moldova, Hungary, Slovenia, Croatia, Germany and Poland.
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Representatives from LV, AIG, Direct Line, Zurich and AXA join speaker panel for The Claims Transformation Forum
by Sabrina CANEA, 2016-07-01
An average of 75% of every premium dollar earned by insurance companies worldwide is being spent on claims and claims related expenses. Therefore, the claims process has been identified as the key area to improve efficiency and reduce costs.
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| STATISTIC
UPDATES |
| ANALYSIS |
 S&P Global Ratings Comments On Brexit Vote
Following the United Kingdom's (U.K.) referendum decision to leave the European Union ("Brexit"), S&P Global Ratings said on June 24th that it would be reviewing the ratings potentially affected by the referendum result. Despite the "leave" vote, any exit will likely be a drawn-out process while treaties or other arrangements are negotiated between the U.K. and the EU regarding their future dealings.
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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 |
| CURRENT
XPRIMM REPORTS |
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In 2015, average per capita spending on insurance in advanced markets was USD 3,440, down almost 6% from the previous year due primarily to exchange rate movements, says Swiss Re's latest sigma report. Per capita spending on life insurance was USD 1,954 and in non-life it was USD 1,486. Penetration remained at the same level since it is unaffected by exchange rate movements.
