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 GEN Re tackles motor insurance in the Baltics
by Alexandru CIUNCAN, Oleg DORONCEANU, 2016-09-28
Road safety and bodily injuries were two of the key topics of the GEN Re "Motor Insurance Baltic" Seminar that took place in Riga, Latvia on September 28 2016.
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 Esko KIVISAARI: There is a strong tendency towards new products compliant with Solvency II
by Oleg DORONCEANU, 2016-09-29
In all countries, there is a strong tendency towards new products compliant with Solvency II requirements, stated Esko KIVISAARI, Deputy Managing Director, Federation of Finnish Financial Services, in his presentation at the 16th International Conference "Insurance & Reinsurance in the Baltics".
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 Insurance & Reinsurance in the Baltics: Online services should be a means to lower costs
by Oleg DORONCEANU, 2016-09-29
Today starts the XVI International Conference "Insurance & Reinsurance in the Baltics", organized by the Latvian Insurers Association, the main annual event dedicated to the Baltics insurance markets, gathering more than 200 participants.
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 William VIDONJA: The sky is going to fall on insurers, intermediaries and consumers
by Oleg DORONCEANU, 2016-09-29
"The sky is going to fall soon on the insurers, intermediaries and consumers in Europe", believes William VIDONJA, Head of Conduct of Business, Insurance Europe, referring to EU regulation.In this regard, he stressed out the new features of the IDD (insurance
distribution directive), PRIIPs (related to investment-based insurance
products) and Solvency II Directive.
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 Mateo CARBONE: 16% of the motor insurance market in Italy is monitorized by telematics
by Oleg DORONCEANU, 2016-09-29
There are 4,8 million connected cars in Italy (telematics-related box) attached to MTPL policies, that represents 16% from the overall motor insurance market in Italy, pointed Mateo CARBONE, Principal, BAIN&Company at the 16th International Conference "Insurance & Reinsurance in the Baltics".
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| TOP
NEWS |
VIG: Romania is one of our core markets. We need the mid and long term perspective to get better
by Mihai CRACEA, 2016-09-26
As MTPL, the most important insurance line in Romania, will be heavily
influenced by the recent regulatory changes, for the VIENNA insurance
Group (VIG), Romania remains a core market, among the top 5 within the
group, said Roland GROLL, Member of the VIENNA Insurance Group Board, at
a press conference organized in Bucharest. "Looking at the overall
picture in Romania, from an economic point of view, it is extremely
positive, especially if we compare it with other core markets. There are
not many European countries which have such favorable environment", he
added.
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BARENTS Re, 2015: Strong financial results and improving international ratings
by Daniela GHETU, 2016-09-29
BARENTS Re has delivered a strong set of financial results in 2015, reporting a net profit of USD 34.8 million, slightly up from USD 34.6 million in 2014, which - according to the company's statement -, went to retained earnings, thereby strengthening further its financial security. Total assets increased to USD 453 million (2014: USD 432 million) and shareholders' equity increased to USD 382 million (2014: USD 350 million).
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STATISTICS: ARMENIA, 1H2016: MTPL insurance events below AMD 100,000 may be settled based on the mutual consent of drivers
by Olesea ADONEV, 2016-09-29
In the first six months of 2016, the six active insurance companies of the Armenian market totaled AMD 16.1 billion in premium (note: based on the Central Banks financial standards), while based on IFRS standards local market totaled only AMD 15.8 billion. At the same time the indemnities paid by local insurers reached AMD 6.2 billion, according to ArmInfo News Agency.
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STATISTICS: AZERBAIJAN, 1H2016: Insurance business is directly dependent on banking sector; for 3 insurers and 88 intermediaries were revoked licenses'
by Olesea ADONEV, 2016-09-29
During the first six months of 2016, the Azerbaijani insurance industry grew, in local currency, by 17.72%. Due to strong devaluation of the local currency (AZN) against USD/EUR, by almost 45%, in the European currency the insurance market decreased by 19.18%.
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STATISTICS: RUSSIA, 1H2016: The market concentration trend continued in 2016. There are probably nearly 100 insurers in the red zone
by Olesea ADONEV, 2016-09-29
The Russian insurance market increased by 14% in nominal terms and in the local currency, in the first half of 2016. "Unlike many other sectors of the financial industry, insurance is growing. We are ahead of other industries and this is a fact," said Igor YURGENS, President, All-Russian Insurance Association (ARIA) and President Russian Association of Motor Insurers (RAMI).
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UKRAINE: AEGON sells its unit and exits the market
by Vlad BOLDIJAR, 2016-09-29
Dutch insurer AEGON announced that it will exit the Ukrainian market
after less than four years, by selling 100% of AEGON Life Ukraine to
local insurance firm TAS Group. The parties have agreed not to disclose
the terms and conditions of the transaction.
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Lloyd's reports EUR 1.77 billion (GBP 1.46 billion) profit for first half of 2016
by Daniela GHETU, 2016-09-29
Lloyd's announced profit of EUR 1.77 billion (GBP 1.46 billion) for the first half of 2016 with the publication of their interim report.
The figures show an increase in profits of EUR 0.31 billion (GBP 0.26 billion) on the same period last year for the world's specialist insurance and reinsurance market. Lloyd's also reported an annualised return on capital of 11.7% and a combined ratio of 98.0%.
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Register now for The Innovating Customer-Centric Insurance Marketing Conference! XPRIMM subscribers benefit from a special discount!
by Adina TUDOR, 2016-09-29
Future-focused insurance companies are rethinking business models and embracing new innovations to resonate with their target audiences. From technological advances and innovations to IoT, changing regulations and digital transformation... how can companies adapt their insurance marketing strategies to maximize growth opportunities and meet ever-evolving customer expectations?
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SAVA Re gets the regulatory approval to merge its four units in Slovenia and Croatia
by Vlad BOLDIJAR, 2016-09-29
Slovenian SAVA Re announced that the Insurance Supervision Agency issued the authorisation for the merger of insurance companies relating to the acquisition of Zavarovalnica TILIA and the and the two Croatian units - VELEBIT osiguranje and VELEBIT zivotno osiguranje - by Zavarovalnica MARIBOR (acquired by SAVA Re in 2013) - to form Zavarovalnica SAVA, headquartered in Slovenia.
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The 8th International Istanbul Insurance Conference will bring forward the challenges of digitalization
by Adina TUDOR, 2016-09-28
Digitalization, a key issue in any insurance company's evolution, will be the focal point of the 8th Istanbul Insurance Conference which will take place on the 6th and 7th of October in Istanbul.
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Lloyd's has launched a new terrorism reinsurance solution for the Spanish multinational companies
by Daniela GHETU, 2016-09-29
It has been presented on September 28, at the Lloyd's Iberia office in Madrid, the new Consortium for International Terrorism Risks, led by Markel and 100% based on of the Lloyd's market capacity. The consortium backed by up to 7 Lloyds syndicates.
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EUR 4 billion and counting - first governamental estimation of the earthquake losses in Central Italy
by Daniela GHETU, 2016-09-29
According to a recent statement of the Italian PM Mateo RENZI, the earthquake that has dramatically affected Italy on August 24 has caused losses of at least EUR 4 billion. However, the figure represents only a first estimate of the government, while the total losses are still being assessed.
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The future paths of claims management under debate in Berlin
by Daniela GHETU, 2016-09-29
The works of the 3rd Annual Global Claims Management Conference have debuted today in Berlin, Germany, gathering top insurers and insurance brokers, as well as technology providers, legal consultants in a rish debate on the latest trend in the insurance claims management field.
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 Industry Executives meet in Barcelona for the Annual Life Insurance Conference 2016 organized by LIMRA EMEA
The Annual Life Insurance Conference, organized by LIMRA Europe Middle East Africa (EMEA), was held in Barcelona from the 25th to the 27th of September. This year, over 100 attendees from every corner of Europe, Middle East and Africa gathered in Barcelona to exchange and discuss innovative solutions and trends in the financial industry.
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| PRESS
CUTTINGS |
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| TOP
EVENT |
Register now to Baden - Baden XPRIMM Reception!
The Kurhaus Casino from Baden Baden will host on Sunday, October 23rd the 8th edition of the XPRIMM Reception.
Baden - Baden XPRIMM Reception represents an opportunity for the CEE & CIS insurance industry to make itself known during the annual meetings held in Baden - Baden.
Click here to register. |
| INTERVIEW |
 Samir OMERHODZIC
Director
Insurance Agency of Bosnia and Herzegovina
It is expected that the adoption of the Law on pension and disability insurance in the Federation of Bosnia and Herzegovina which is now in parliamentary procedure and the announced changes to the health insurance system shall lead to the positive changes in the insurance market, to the development of new products and higher share of voluntary insurance premium in the total portfolio.
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| STATISTIC
UPDATES |
| POINT OF VIEW |
 Dilyara KARAKULOVA
President of the Board
Insurance Payments Guarantee Fund
The insurance industry in Kazakhstan is one of the key elements of the national financial system. The existence of such compulsory insurance as MTPL and compulsory insurance of third party liability for tour operators and tour agents imposes on insurance industry a greater social responsibility toward society.Due to this fact the insurance market needs more stability, reliability and transparency in order to further the development.
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| XPRIMM EVENTS |
ICAR - The International CAtastrophic Risks Forum
October 11, 2016, Bucharest, Romania
Baden-Baden XPRIMM Reception
October 23, 2016, Baden Baden, Germany
AZERI Evening - Baden-Baden
October 23, 2016, Casino Restaurant Sommergarten, Baden Baden, Germany
European Consumer Protection Conference
February 16, 2017, Vienna, Austria
IIF 2017 - MOTOR Insurance Conference
February 17, 2017, Vienna, Austria |
| ON THE MOVE |
 MMC names Anthony K. ANDERSON to Board of Directors
Marsh & McLennan Companies (MMC) announced that Anthony K. ANDERSON has been elected to the Company's Board of Directors. "With Mr. ANDERSON'S election, the Company's Board consists of 11 directors", as MMC pointed out in a statement.
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| PARTNER EVENTS |
The 8th International Istanbul Insurance Conference
October 6-7, 2016, Istanbul, Turkey
8th Annual Insurance Distribution Strategies
13-14 October 2016, Amsterdam, Netherlands
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Insurance Fraud Forum
October 20-21, 2016, Munich, Germany
Baden Baden Meetings 2016
October 23-26, 2016, Baden Baden, Germany
VIII International Conference "Corporate Insurance"
October 26, 2016, Moscow, Russia
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VIth AIDA Europe Conference
November 3-4, 2016, Vienna, Austria
WorldPensionSummit 2016
November 9-10, 2016, The Hague, Netherlands
2nd Annual Practical ORSA Feedback and Risk Appetite
November 24-25, 2016, London, United Kingdom |
| CURRENT
XPRIMM REPORTS |
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