 TOP
NEWS |
ECPC 2017: What are the insurers' expectations regarding the KID and IPID forthcoming implementation
by Daniela GHETU, 2016-11-17
"Customers' expectations are rising. They don't compare us only with our peers. Nowadays insurers' services are judged against that of hotels and other businesses. This is forcing insurers to improve their interactions with customers or lose relevancy," Chris MA, CEO, AIA Macau has recently stated in an interview for AM Best TV.
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 Insurance Fraud & Digital Transformation Survey 2016 Report by FRISS released
by Daniela GHETU, 2016-11-17
"Insurers use telematics most often for risk-based pricing and to stimulate safe driving behavior. Gaining claim information is not a priority," reveales the "Insurance Fraud & Digital Transformation Survey 2016" report published by FRISS.
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STATISTICS: CZECH REP., 3Q2016: Motor policies maintained the market on the upward trend
by Vlad BOLDIJAR, 2016-11-17
According to data released by the Czech Insurance Association (CAP), in 3Q 2016 the insurance market has been driven by non-life insurance segment which reported a y-o-y growth rate of 4.2%, while life policies continues to decrease by about 2.1%. Overall, the aggregate GWP increased slightly by CZK 1.61 billion (to CZK 89.57 billion or EUR 3.32.billion), which corresponds to a y-o-y growth rate of 1.8%.
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PZU Group: EUR 303.6 million consolidated profit for the first three quarters of 2016
by Daniela GHETU, 2016-11-17
PZU Group posted a consolidated net profit attributable to the parent company of PLN 649 million (EUR 150.5 million) in 3Q2016, 27% up y-o-y, the cumulative profit amounting to PLN 1,309 million (EUR 303.6 million). GWP in the first three quarters has climbed 9.2% y-o-y, to PLN 14,706 million. Life insurance market share measured by regular premium has reached a record-breaking 45%.
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Hungary: Proposed improvement of the fiscal regime for life insurance products with investment component
by Daniela GHETU, 2016-11-17
Hungary's National Economy Ministry has submitted a new tax package to Parliament on October 28, providing for the 6% healthcare contribution on interest income removal for different financial product, including life insurance policies that held at least 80% of their assets in forint-denominated government securities, reports Portfolio.hu.
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ALLIANZ: Operating profit outlook for 2016 confirmed at about EUR 10.5 billion
by Daniela GHETU, 2016-11-17
ALLIANZ Group, Europe's largest insurer and asset manager, saw operating profit in Q3 rise 18.2% to EUR 2.9 billion, driven by contributions from all business segments. The L&H segment produced the strongest results. Operating profit outlook for 2016 was confirmed at EUR 10.5 billion, plus or minus EUR 500 million.
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MUNICH Re posts profit of EUR 684 million in third quarter - Profit guidance of well over EUR 2.3 billion for 2016
by Daniela GHETU, 2016-11-17
MUNICH Re posted a consolidated profit of EUR 2.1 billion for the first nine months of 2016 . In the third quarter, the Group realised a profit of EUR 684 million (525 million in 2015). Following the gratifying result for the third quarter, the profit for the current year is expected to significantly exceed the previously projected amount of EUR 2.3 billion.
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AXA's 3Q revenues up by 0.4% y-o-y
by Vlad BOLDIJAR, 2016-11-16
French insurer AXA reported total revenues of EUR 75.7 billion for the first nine months of 2016, up by 0.4% y-o-y, "as growth in Property & Casualty and International Insurance was partly offset by Life & Savings and Asset Management", as the company mentioned in a press release.
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GENERALI: The Q3 positive trend entitles Group's optimistic expectations for end year
by Daniela GHETU, 2016-11-17
The GWP of the Italian Group GENERALI reached EUR 52.1 billion at the end of the first nine months of 2016 (-2.8% y-o-y). The Combined Ratio improved to 92.4% (-0.2 p.p.) while the operating result exceeded EUR 3.6 billion (-5.6%) with recovery in third quarter (+7.3%) and the net profit amounted to over EUR 1.6 billion (-5.9%), accelerating in the last three months (+6.4%).
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HANNOVER Re: FY2016 profit target achievable, considering the 3Q net income increase
by Vlad BOLDIJAR, 2016-11-16
The third-largest reinsurer in the world in premiums terms - HANNOVER Re posted 3Q2016 aggegate net income of EUR 790.0 million vs. EUR 786.0 million a year before, while the value of GWP contracted by 3.8% to EUR 12.5 billion (EUR 12.9 billion). "We are very well on track to achieve our profit target of at least EUR 950 million for the full 2016 financial year," Chief Executive Officer Ulrich WALLIN stated.
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VIDEO: CCN solutions highlighted in Bucharest during an event dedicated to the local insurance market
by Mihai CRACEA, 2016-11-14
Romania is one of the larger markets in the European Union, and we see that regarding innovation and technology there is a great interest and an appetite to learn new things, underlined Cees WERFF, Founder and CEO of Claims Corporation Network, during an event organized on November 10th at the Romanian Chamber of Commerce.
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Tokio Marine - first steps toward the self-driving cars insurance world
by Daniela GHETU, 2016-11-17
Self-driving cars insurance has made a step forward with a new project launched by Tokio Marine & Nichido Fire Insurance, who have announced the launch of the first specialized product in Japan. Insurance coverage will be provided free of charge starting next April for self-driving vehicles against auto accidents, writes Asia Insurance Review.
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TALANX: 3Q net income of EUR 635 million; FY2016 outlook raised
by Vlad BOLDIJAR, 2016-11-16
German insurer TALANX posted 3Q2016 net income of EUR 635 million, about 30.1% more y-o-y and raised its FY2016 outlook to net income of at least EUR 750 million, based on stable GWP volumes and constant exchange rates. At the same time, for the 2017 financial year, TALANX anticipates Group net income again of at least EUR 750 million.
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ZURICH Insurance nine months profit went up by 34% y-o-y
by Vlad BOLDIJAR, 2016-11-16
Swiss insurance group ZURICH reported a business operating profit of USD 3.4 billion (up by 34% y-o-y) and net income attributable to shareholders of USD 2.5 billion (28% more y-o-y) for 3Q2016, "due to underlying improvements in General Insurance and continued strong performance from Global Life and FARMERS", as the company announced in a statement.
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New M&As in Russia: VTB Insurance intends to buy ROSNO-MS, while SOGAZ-Med will get URALSIB health insurance
by Olesea ADONEV, 2016-11-16
VTB Insurance and SOGAZ-Med have announced about their intention of buying new business entities specialized in compulsory health insurance in Russia. The transactions will result in VTB Insurance acquiring medical insurance company ROSNO-MS from Alliance Russia, while SOGAZ will get URALSIB health insurance from URALSIB Insurance Company.
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AXA to sell its UK P&C commercial broker BLUEFIN to MARSH
by Vlad BOLDIJAR, 2016-11-16
AXA announced that it had entered into an agreement with MARSH to sell BLUEFIN Insurance Group Ltd, its P&C commercial broker in the UK. The price for the disposal of BLUEFIN would amount to GBP 295 million (or EUR 340 million). The proposed transaction is subject to customary conditions, including the receipt of regulatory approvals, and should be finalized before the end of the Q1 2017.
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| ANALYSIS |
 S&P: Insurance In Ex-Yugoslavia 25 Years After Dissolution: Is The Gap Closing?
Intense competition, difficulties in appropriate pricing because of lacking actuarial data, unresolved legal issues, unfinished privatization as well overall economic instability stalling development are some of the main findings of the latest report issued by S&P Global rating on the ex-Yugoslavian insurance markets (Insurance In Ex-Yugoslavia 25 Years After Dissolution: Is The Gap Closing?).
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| PRESS
CUTTINGS |
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| TOP
EVENT |
 IIF 2017: Jean ZENNERS, President of CoB talks about the challenges in settling cross-border claims
Road carriers have been confronted this year with raising MTPL tariffs in several countries. Yet, while at a moderate pace the trend seems rather a general one, in some of the CEE countries there have been recorded historical peaks which led to a strong dissatisfaction of the corporate customers. What is the role played by the cross border claims in configuring this trend is the topic which will be addressed by Jean ZENNERS, President of the Council of Bureaux on the occasion of IIF 2017 - New challenges for the CEE motor insurance industry, to take place in Vienna, on February 15.
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| INTERVIEW |
 Igor YURGENS
President, All-Russian Insurance Association (ARIA)
President, Russian Association of Motor Insurers (RAMI)
Most probably, the Russian insurance market will increase by 5-7% in 2016. The main market drivers for 2016 will be the non-credit life insurance and MTPL. Compared with the results of the 1st quarter of 2016 there was a slight revival of corporate property insurance segments, accident and liability insurance. But in fact all business segments, except for life insurance and MTPL, begin to stagnate and probably soon will move into a phase of recession.
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| STATISTIC
UPDATES |
| POINT OF VIEW |
 Kaan ACUN
Deputy General Manager
MILLI Re
Turkish market remains to be our major operating market and MILLI Re aims to continue its leadership of the market. On the other hand, as part of the strategy of transforming from a local reinsurance leader into an international player, MILLI Re has actively engaged in accepting business from emerging markets including Middle East, Asia, Northern and Continental Africa, CIS and Eastern Europe as well as from some developed markets.
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| XPRIMM EVENTS |
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 |
| PARTNER EVENTS |
| ON THE MOVE |
| CURRENT
XPRIMM REPORTS |
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