XPRIMM News No. 340, 19 January, 2017

		Insurance Newsletter, No. 340, 19 January, 2017 Click here to subscribe! Click here to unsubscribe!

TOP NEWS OCTO Telematics joins the exquisite IIF 2017 team of speakers which will analyze the motor insurance trends by Daniela GHETU, 2017-01-19 Telematics are definitely improving the motor insurance bottom line, both through the self-selection effects on customer acquisition and material savings related to claims settlement. In addition, it provides the benefit of introducing value-added services around the driver journey, establishing a new type of relation between insurers and their customers, with positive effects on customers' loyalty. More Insurance Europe: Successful conclusion of EU-US bilateral agreement on (re)insurance welcomed by Daniela GHETU, 2017-01-18 Following the successful conclusion of the bilateral agreement on (re)insurance between the EU and the US in January 2017, Cristina MIHAI, head of prudential regulation and international affairs at Insurance Europe, said:"Insurance Europe welcomes the recent conclusion of the bilateral agreement on (re)insurance between the EU and the US, and supports the provisions foreseeing the removal of the discriminatory collateral requirements that EU reinsurers were subject to when placing business in the US. More FITCH: Abolishing collateral will aid transatlantic reinsurance Abolishing regulatory requirements for EU and US reinsurers to post collateral for their transatlantic business is the most significant element of the recent bilateral EU-US agreement on insurance supervision, says Fitch Ratings in a press statement released on January 17th. More Italy hit again by earthquakes; 30 possible victims in a hotel buried by an quake-triggered avalanche by Daniela GHETU, 2017-01-19 Four earthquakes of over 5 degrees Richer magnitude hit Central Italy in less than four hours Wednesday morning, followed by tens of aftershocks, once again affecting the same mountainous region deadly struck by tremors in August and October 2016. The earthquakes were string enough to be felt in Rome, as well as in the regions of Toscana, Campania and Emilia. More STATISTICS: Czech Rep., 3Q2016: The decreases in life insurance pushed down the aggregate figure by Vlad BOLDIJAR, 2017-01-19 At the end the third quarter of 2016, the Czech Rep. insurance market totaled CZK 111.6 billion (EUR 4.1 billion), 3.7% less y-o-y, according to the market statistics published on the Czech National Bank website. If the life insurance segment reported an 8% y-o-y decrease (to EUR 1.6 billion), the non-life insurance maintained at about the 3Q2015 level: GWP of EUR 2.5 billion. More STATISTICS: ROMANIA, 3Q2016: Double digit GWP growth supported by the raising MTPL tariffs by Daniela GHETU, 2017-01-19 The Romanian insurance market ended the first three quarters of 2016 with GWP amounting to EUR 1.53 billion, 10.6% up y-o-y, supported by the significant increase in the MTPL prices recorded in the first part of the year. More Romanian MTPL subsegment supported the EIG's business positive trend by Vlad BOLDIJAR, 2017-01-19 Bulgarian-based EUROINS Insurance Group (EIG) reported preliminary GWP of EUR 268 million during 2016, 16% more y-o-y, according to a press release published by its owner, the financial holding EUROHOLD. More Croatia: MTPL market's liberalization has brought a larger product diversification, believes the Competition Agency by Daniela GHETU, 2017-01-19 Croatian passenger cars owners have benefitted from the MTPL market liberalization, as well as from the products diversification, has found a recent survey performed by the local Competition Agency. According to the survey's conclusions, the market is "competitive and well structured" and consumers currently have a better choice than in the past years. More BIBA pleads for a sectoral Brexit solution and no further increases of the Insurance Premium Tax and supervision costs by Daniela GHETU, 2017-01-18 The British Insurance Brokers' Association (BIBA) has called for the government to commit to no further increases to Insurance Premium Tax (IPT) and to negotiate for single market access in the EU exit. BIBA has also called for the Financial Conduct Authority (FCA) to prioritise cost-effective supervision following a 70% increase in regulation costs for small insurance brokers, reads the latest association's press release. More A.M. Best Assigns Credit Ratings to PASHA Insurance OJSC On January 17, A.M. Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" to the Azeri PASHA Insurance OJSC (PASHA Insurance). The outlook assigned to these Credit Ratings (ratings) is stable. PASHA Insurance is a wholly owned subsidiary of PASHA Holding LLC, a diversified group also based in Azerbaijan. More Aon Benfield: Earthquake and severe weather - combined for 70% of all economic losses in 2016 by Daniela GHETU, 2017-01-19 Aon Benfield's catastrophe model development team has launched its 2016 Annual Global Climate and Catastrophe Report, which evaluates the impact of the natural disaster events that occurred worldwide during the last 12 months to promote awareness and enhance resilience. More DONNET, GENERALI: 2017 it's not going to be easy, but may be better than 2016 by Daniela GHETU, 2017-01-19 "2017 will look very close to 2016. For basic reasons, we are still going to face a low interest rate environment and the regulation is going to be tough again," Italian GENERALI's CEO, Philippe DONNET, has stated in a recent interview with CNBC on the occasion of the World Economic Forum 2017. More ON THE MOVE Miroslav SINGER - former Governor of Czech National Bank to join GENERALI Group Miroslav SINGER (48), former Governor of Czech National Bank (CNB), has been appointed as Director for Institutional Affairs and Chief Economist of GENERALI CEE Holding with effect from 16 January 2017. He will also join the Supervisory Board of Czech market leader Ceska pojistovna - a GENERALI Group company - to become its chairman. More Renata Jungo BRUNGGER appointed in the Supervisory Board at MUNICH Re Renata Jungo BRUNGGER (55) has been appointed to the Supervisory Board of Munich Re with effect from 3 January 2017. The Amtsgericht (Local Court) in Munich appointed Jungo BRUNGGER as the successor to Wolfgang Mayrhuber, who resigned his seat on the Supervisory Board on 31 December 2016. More SCOR announces several appointments in the top level management team French reinsurer SCOR announced on January 16, several appointments to Group's top management functions, with immediate effect. More Veronique WEILL to leave the AXA Group After 10 years at AXA, Veronique WEILL, CEO of AXA Global Asset Management, Group Chief Customer Officer and a Member of the Management Committee of the AXA Group, has decided to leave the Group, as the French insurer announced in a press release. More CHUBB appoints Alf MULLER as Property and Technical Lines Director for Continental Europe CHUBB today the appointment of Alf MULLER to the role of Property and Technical Lines Director for Continental Europe, as it continues to evolve its client offering in the property, powergen and construction insurance markets. More EULER HERMES appoints Kamelia POPOVA as Country Manager for Bulgaria The German trade credit insurer EULER HERMES announced it has appointed Kamelia POPOVA as Country Manager for Bulgaria, reporting to Ed GOOS, EULER HERMES CEO of Central & Eastern European Countries. More PRESS CUTTINGS AZERBAIJANI insurance company increases payment of claims GREEK turnaround adds sheen to NBG's insurance asset sale POLISH insurer PZU considering EUR 500 mln bond issue RUSSIAN Central Bank revokes almost hundred licenses in 2016 UKRAINE: French company has no intention of selling AXA Insurance

TOP EVENT INSURANCE & TECHNOLOGY Innovation - the right response to the technological challenge The driverless revolution in the auto industry is already buzzing along city streets around the world, in a variety of tests and trials-and not just for cars, but for 18-wheel delivery trucks loaded with beer. Yet the excitement surrounding the emergence of autonomous vehicles tends to overshadow another tech revolution underway: the addition of dynamic cognition layers that will enable cars to care for human comfort, information and entertainment preferences in new and unimagined ways, say the Watson IoT team. More STATISTIC UPDATES Czech Rep 3Q2016 Romania 3Q2016 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, Istanbul, Turkey FIAR 2017 - The International Insurance-Reinsurance Forum 21-25 May 2017, Brasov, Romania AIIF - Azerbaijan International Insurance Forum June 2017 Baku, Azerbaijan IIF 2017 - PROPERTY Insurance Conference 19-20 June 2017, Munchen, Germany PARTNER EVENTS 10th Annual BancAssurance Forum 7-8 February 2017, Amsterdam Insurance Fraud Forum 16-17 February 2017, Rome, Italy European Motor Insurance Summit 16-17 February 2017, Rome, Italy 5th Edition Nordic Asset Allocation: Investing in Alternative Asset Classes 23-24 February 2017, Elite Hotel Marina Tower, Stockholm, Sweden 3rd Annual Credit Risk Management Forum 2-3 March, 2017, Berlin, Germany 3rd Annual African Insurance Forum 9-10 March 2017, Johannesburg, South Africa Insurance Innovations 2017 13-14 March 2017, Dubai, United Arab Emirates Energy and Industrial Insurance in Russia and CIS 16-17 March 2017, Moscow, Russia The Winning Digital Marketing Financial Services Conference 21 March 2017, London, United Kingdom XXI Annual Conference on Reinsurance 5-6 April 2017, Moscow, Russia XI International Conference "Insurance in Central Asia" 13-14 April 2017, Almaty, Kazakhstan International Risk Management Conference 27-28 April 2017, Almaty, Kazakhstan CURRENT XPRIMM REPORTS KAZAKHSTAN FY2015 & 1H2016 RUSSIA FY 2015 & 1H2016 TURKEY FY2015 & 1H2016 ROMANIA 1Q2016 & 1H2016 Ins. Report CEE, SEE & CIS – 1H2016 Motor Ins. Report FY2015 & 1H2016 Property Ins. Report FY2015 AZERBAIJAN FY 2015 & 1H2016