 TOP
NEWS |
 Consumer Protection, top priority for European authorities and driving factor of the insurance industry's reshape - under debate in Vienna next February
by Daniela GHETU, 2016-10-20
"Protection of consumers, investors and policyholders is the top priority for each European Supervisory Authority," pointed out Gabriel BERNARDINO, Chairman of EIOPA and of the Joint Committee of the three European Supervisory Authorities (EBA, ESMA, EIOPA- ESAs) on the occasion of the Steering Committee of the EU - U.S. Insurance Project hosted in Frankfurt on 19 October, a Public Forum to address the challenges of increased globalization of the insurance market and to define the areas of work for the coming year.
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European Commission calls for the public and private pensions providers' opinion on a potential EU personal pension framework
by Daniela GHETU, 2016-10-20
The European Commission has launched a public consultation on personal pensions. The consultation will enable the Commission to assess what can be done at EU level to support a wider choice of personal pensions competing across borders. As key players in capital markets, increasing investment in personal pensions is one of the priorities of the Capital Markets Union.
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How to compete for customers in a price-sensitive motor insurance market - under debate in Vienna in the beginning of 2017
by Daniela GHETU, 2016-10-20
The price war on the MTPL line was a regional reality for years in the CEE, visibly affecting , insurers' profitability. Lately it seems that the market gave off a little steam and in some markets MTPL prices have significantly increase. Albania, Hungary and Romania are probably the most relevant examples in this respect, with prices going up, in average, by 14 - 20%, shows the XPRIMM Motor Insurance Report autumn edition.
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FAIRFAX expands its presence in the CEE with the aquistion of AIG's operations in the region; LatAm AIG's units also included in the deal
by Daniela GHETU, 2016-10-18
The Canadian based FAIRFAX Financial Holdings Limited ("Fairfax"), already an active player on the CEE markets, is expanding its presence in the region through a large scale acquisition agreement closed with American International Group, Inc. (AIG). Thus, FAIRFAX will acquire certain assets and renewal rights with respect to the portfolio of local business written by AIG Europe in the CEE.
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STATISTICS: BULGARIA, 1H2016: 5.6% up y-o-y, capitalizing on the life and motor insurance lines growth
by Daniela GHETU, 2016-10-20
Bulgarian insurers recorded in 1H2016 a GWP worth EUR 528.15
million, 5.6% up y-o-y. Two were the business segments with a relevant
contribution to the market's growth: life insurance, which saw a record
high growth in premium volume (~44%) on the Unit-Linked insurance line
and the motor insurance lines, the Motor Hull and MTPL lines'
contribution, in absolute terms, to the GWP growth being almost equal.
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STATISTICS: HUNGARY, 1H2016: modest market GWP growth supported by the main non-life insurance lines
by Daniela GHETU, 2016-10-20
Hungarian insurers' GWP for 1H2016 amounted to EUR 1.45 billion, 2.8% up y-o-y, the non-life segment being the growth driver, especially due to the double digit increase witnessed on the MTPL insurance line.
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The Croatian Insurance Days preliminary program was published
by Daniela GHETU, 2016-10-20
The Croatian Insurance Bureau has released the preliminary program of the Croatian Insurance Days, the traditional annual gathering of the Croatian and the other Adriatic insurance market, organized in Opatija, between 9-11 November.
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STATISTICS: SLOVAKIA, 1H2016: Possible extension of the current 8% tax on MTPL premiums to all facultative non-life insurance lines
by Daniela GHETU, 2016-10-20
Slovak insurers have ended 1H2016 with an overall GWP volume inferior to the previous year's results for the same period. According to the market representatives, given the Slovak market's stability during the recent years, the end year market results should be more or less in line with the 2015 results.
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Poland's top insurance group PZU eyes Pekao Bank, as a further step in fulfilling its Strategy 2020 in the banking area
by Daniela GHETU, 2016-10-18
Poland's insurance market leader, PZU has confirmed for the local press that it has launched on September 28 talks on purchasing a "significant" stake in the country's number two bank by assets, Pekao from Italian Unicredit, The Warsaw Voice reads.
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AIG exits Kazakhstan
by Olesea ADONEV, 2016-10-20
Member of American International Group (AIG), CHARTIS Kazakhstan has recently announced ceasing its activity on the Kazakh insurance market and further transfer of its business to KAZAKHINSTRAKH, affiliated company of HALYK Bank.
More  Продолжение
Insurance fraud will be discussed in Moscow
by Olesea ADONEV, 2016-10-20
On November 9, 2016 at the Holiday Inn Hotel Moscow, Russia will take place the specialized conference "Barrier-2016. Combating Insurance Fraud - prophylactics, protection, investigation". The event is organized by The All-Russian Insurance Association (ARIA) and The Russian Association of Motor Insurers. XPRIMM Publications support this event as Media Partner.
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Aon launches new catastrophe model to manage the Earthquake risk, Iceland's most disastrous peril
by Daniela GHETU, 2016-10-20
Impact Forecasting, Aon Benfield's catastrophe model development team, has developed a new catastrophe model for Iceland to estimate the financial impact of earthquakes. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc.
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| ANALYSIS |
 The client is always right
Over the last few years, the Russian insurers have tended to characterize insurance fraud as one of the most actual threats to their business. It would not be appropriate to say that there were no measures taken in order to reduce this phenomenon. Once they've considered, for example, that introducing a distinct article in the Russian criminal code dedicated to fraud will substantially solve this issue.
More Продолжение |
| ON THE MOVE |
 TRUST Re appoints Dr. Cherif Chentir to its Board of Directors
TRUST International Insurance and Reinsurance Company B.S.C. (c), TRUST
Re, is delighted to announce the appointment of Dr. Cherif Chentir as an
independent non-executive Director, effective September 2016 for a full
3-year term. The appointment was formally approved by the Central Bank
of Bahrain.
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| TOP
EVENT |
 Seven new XPRIMM titles on the Baden Baden stands
Seven new titles will be available this year on the XPRIMM Baden Baden press stands opened in the Kurhaus Casino, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.
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| INTERVIEW |
 Nikolay GALUSHIN
President
The National Reinsurance Company (NRC), Russia
The Russian Federation has created its own specialized reinsurer - the National Reinsurance Company (NRC), effectively from January 1st, 2017. The main goals of the company are to offer additional capacity for the Russian market (including sanctioned risks) and also to cover Nat Cat perils for consumers. The law stipulates also that local insurers/reinsurers must offer 10% quota of the risks to the NRC.
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| STATISTIC
UPDATES |
| XPRIMM EVENTS |
Baden-Baden XPRIMM Reception
23 October 2016, Baden Baden, Germany
AZERI Evening - Baden-Baden
23 October 2016, Casino Restaurant Sommergarten, Baden Baden, Germany
IIF 2017 - MOTOR Insurance Conference
15 February 2017, Vienna, Austria
European Consumer Protection Conference
16 February 2017, Vienna, Austria
IIF 2017 - MOTOR Insurance Conference
2-3 April 2017, Pera Palace Hotel, Istanbul, Turkey
AIIF - Azerbaijan International Insurance Forum
June 2017 Baku, Azerbaijan
IIF 2017 - PROPERTY Insurance Conference
19-20 June 2017, Munchen, Germany |
| POINT OF VIEW |
 Levent SONMEZ
Deputy General Manager
ANADOLU Sigorta
Despite all the cliches saying that the "price should not be the first criteria when buying insurance", the price is one of the most determining factors from a customer's pint of view. I think instead of criticizing this behavior, we must accept and internalize this natural fact.
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| PARTNER EVENTS |
Baden Baden Meetings 2016
23-26 October 2016, Baden Baden, Germany
VIII International Conference "Corporate Insurance"
26 October 2016, Moscow, Russia
VIth AIDA Europe Conference
3-4 November 2016, Vienna, Austria
WorldPensionSummit 2016
9-10 November 2016, The Hague, Netherlands
2nd Annual Practical ORSA Feedback and Risk Appetite
24-25 November 2016, London, United Kingdom
Innovating Customer-Centric Insurance Marketing Conference
30 November 2016, London, United Kingdom
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| CURRENT
XPRIMM REPORTS |
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BELARUS Re celebrates 10 years of successful activities 
"We are close to our markets and we understand both the local needs and the global demands. We can offer flexibility in covering a wide range of risks for a variety of industries and we have build a strong partnerships with leading regional and international brokers", the company's officials stated.
Constantinos HADJIGEORGIOU appointed TRUST Re's Group Corporate Services Officer
