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XPRIMM News No. 321, August 18, 2016

Insurance Newsletter, No. 321, August 18, 2016

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img_lead_8304PCS Announces Launch of Historical Catastrophe Database for Turkey; Access Available for Events Going Back to the 1999 Earthquakes
by Daniela GHETU, 2016-08-18
Property Claim Services® (PCS®), a Verisk Analytics (Nasdaq:VRSK) business, today announced the launch of its historical database of industrywide catastrophe loss estimates for Turkey. In conjunction with the Istanbul Underwriting Center (IUC), PCS Turkey delivers insured loss estimates for catastrophe and noteworthy noncatastrophe events going back to the tragic earthquakes of 1999.

img_lead_8294Solvency II first lessons under debate in Ljubljana; registration still available until August 26th
by Daniela GHETU, 2016-08-18
Nine months after Solvency II has officially come into force within the EU, the conference "SII Lessons Learned", organized in Ljubljana, on September 6th, by the Insurance Supervision Agency of Slovenia under the honorary patronage of the President of Slovenia, Borut PAHOR, will try to explore the first lessons learned from regulatory change of a very significant magnitude. XPRIMM Publications support the event as Media Partners.

SWISS Re: Insured losses accounted for 44% of the total economic losses from disaster events in 1H2016
by Daniela GHETU, 2016-08-18
Total economic losses from disaster events in 1H2016 rose by 38% to USD 71 billion, primarily due to natural catastrophes, the preliminary sigma estimates show. The global insurance industry covered a total of USD 31 billion, or 44%, of the total losses. Around 6 000 people lost their lives in natural catastrophes and man-made events in the first half of the year, compared to 12.000 in 1H2015.

STATISTICS: CROATIA, 1H2016: The market remained relatively at the 1H2015 level
by Vlad BOLDIJAR, 2016-08-18
According to the half year report on insurers' performance published by the Croatian Insurance Bureau - HUO, in 1H2016 the local insurance industry remained at the 1H2015 level, the GWP volume by the 23 active insurers totalling EUR 640.7 million (HRK 4.81 billion) - 0.12% more y-o-y. Per segments, life GWP went down by 2.3% y-o-y to EUR 202.7 million, while the 18 non-life insurers wrote premiums of EUR 438 million, up by 1.3% y-o-y.

Credit Europe Asigurari
STATISTICS: MONTENEGRO 1H2016: GRAWE and LOVCEN are holding the largest shares on the life and non-life GWP
by Vlad BOLDIJAR, 2016-08-18
Montenegro insurers' GWP increased by 4.50% y-o-y to EUR 38.65 million in the first half of the year, according to the figures published by the Insurance Supervision Agency. The aggregate value of gross claims paid was EUR 14.73 million, 1.60% more y-o-y.

STATISTICS: ALBANIA: 3% increase in GWP and 30% growth rate in claims in the first half year
by Vlad BOLDIJAR, 2016-08-18
At the end of June 2016, the Albanian insurance market totalled ALL 6.62 billion (~EUR 48 million), 3% up y-o-y, while the total amount of paid claims was of ALL 1.89 billion (~EUR 14 million) - or 30% more y-o-y, according to the figures published by the local market authority.

STATISTICS: KOSOVO, 1H2016: insurers posted GWP of EUR 40 million in 1H2016
by Vlad BOLDIJAR, 2016-08-18
The Kosovo insurers' GWP increased by 1.68% y-o-y to EUR 39.96 million in the first half of 2016, as shown by the Central Bank's data. Gross written premiums from Motor TPL insurance increased by 5.28% to EUR 22.57 million, generating about 56.48% of total GWP. The total gross claims paid were down by more than 8% to EUR 17.81 million.


TALANX reported net income of EUR 401 million and confirmed its annual target
by Vlad BOLDIJAR, 2016-08-18
German insurer TALANX posted 1H2016 net income of EUR 401 million, substantially higher than previous year when it totaled EUR 311 million and reaffirmed its outlook for 2016 of around EUR 750 million, "despite the impact of natural disasters and currency effects".

STATISTICS: Rep. of Moldova, 1H2016: GWP up by more than 9.5% while claims increased by over 40%
by Olesea ADONEV, 2016-08-18
The Moldavian insurance market has recorded in 1H2016, total GWP of MDL 628 million (EUR 28,2 million), increasing by 9,5% as compared with 1H2015, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF). In European currency, the companie's GWP have seen a decrease of 0,49%, as a consequence of the national currency depreciation against the European one.

ARMENIA: Insurers' consolidated net profit 74% up y-o-y
by Daniela GHETU, 2016-08-18
Net profit achieved by the six insurance companies operating on the Armenian market amounted to AMD 2.6 billion (EUR 4.9 million) in 1H2016, up by 74% y-o-y in local currency, according to ArmInfo Rating Agency. GWP grew by 4.2% to AMD 15.8 billion (EUR 29.8 million), while claims paid rose by 0.7% to AMD 6.2 billion (EUR 11.7 million).

Igor-StebernakIgor STEBERNAK is the new Chairman of the Supervisory Board of the Company of Zavarovalnica TRIGLAV

Igor STEBERNAK was appointed Chairman of the Supervisory Board of the Company of Zavarovalnica TRIGLAV. The term of office of the former Supervisory Board Chairman and Members has expired following the submission of his resignation letter on 31 May 2016.

jin_yong_cai80AON names Jin-Yong CAI to the company's Board of Directors

The risk and insurance brokerage services provider AON announced that Jin-Yong CAI, a TPG Capital partner and the former CEO of IFC - the World Bank's investment arm, has been appointed to the Company's Board of Directors effective August 10, 2016. Jin-Yong CAI will also serve on AON's Finance and Organization and Compensation Committees.

A.M. Best Affirms Ratings of Polish Re

AZERBAIJAN's PASHA Life insurance company increases payments

BOSNIA's insurer Sarajevo Osiguranje H1 net profit halves

CROATIA's Olderst Insurance Company Enters Slovenian Market

KBC Group: Strong first half profit of 1.1 billion euros

NN Group reports 2Q16 results

RZB Sold 17.6 Percent Stake of Uniqa
P&C insurers need to get faster and be more precise to address the challenges raised by the climate change
by Daniela GHETU, 2016-08-18
"Things that grow rapidly and are of meaning to the P&C insurance companies are actually two. One is the data which are available to try to drive insight in terms of anticipating loss, preparing for it etc., and the other are a couple of types of risk that are just becoming more important: one would be that the climate instability mounts and the other are the cyber attacks. There are definitely two categories that will be in the future more important that they are today," said Scott STEPHENSON, President and CEO of Verisk, in an interview to AM Best TV.


Croatia 1H2016
Montenegro 1H2016
Albania 1H2016
Kosovo 1H2016
Moldova 1H2016


Solvency 2 - Lessons Learned
September 6, 2016
Hotel Union Ljubljana, Slovenia
Organizer: AZN - Insurance Supervision Agency
For details:

POLISH Re's 20th Anniversary Celebration
September 8, 2016
Villa Foksal
Warsaw, Poland
More details:
6th Annual Managing Insurance Assets Conference
September 8-9, 2016
London, United Kingdom
Organizer: Marcus Evans
Media Partner: XPRIMM Publications
For details:


Claims Transformation Forum
September 13-14, 2016
London, United Kingdom
Organizer: IQPC - International Quality and Productivity Center
Media Partner: XPRIMM Publications
For details:

Les Rendez-vous de Septembre 2016
September 10-15, 2016
Monte Carlo, Monaco
XPRIMM Publications stand at Fairmont Hotel
For details:


Chief Data Officer Forum Insurance 2016
September 15, 2016
Swissotel Chicago, Illinois, USA
Organizer: Corinium Global Intelligence
Media Partner: XPRIMM Publications
For details:
6th Annual Risk Management Forum
September 22-23, 2016
Vienna, Austria
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details:



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