XPRIMM News No. 346, 2 March, 2017

		Insurance Newsletter, No. 346, 2 March, 2017 Click here to subscribe! Click here to unsubscribe!

TOP NEWS IAIS: Activities-based approach to systemic risk assessment in the insurance sector during the next three years by Daniela GHETU, 2017-03-01 As part of the next three-year cycle for reviewing its approach to systemic risk assessment scheduled to conclude in 2019, the International Association of Insurance Supervisors (IAIS) is developing an activities-based approach to systemic risk assessment in the insurance sector. More STATISTICS: LITHUANIA: After 10% y-o-y increase in FY2016 GWP, CB predicts a slowdown in FY2017 rates by Vlad BOLDIJAR, 2017-03-02 Lithuanian insurers reported GWP of EUR 709.8 million in 2016, while growth within the entire insurance market was 10%. The amount of insurance premiums within the non-life insurance sector stood at EUR 463.1 million last year, an increase of 13.2% y-o-y, mostly driven by the motor insurance classes. More ERGO in the Baltic States 2016: Increased GWP and profit by Daniela GHETU, 2017-03-01 ERGO's subsidiaries firm the Baltic States have achieved strong results in 2016, both in GWP and profitability terms. GWP amounted to EUR 206 million, growing y-o-y at a pace of 11%, significantly above the market average. More 5% increase for the Romanian MTPL market in 2016 by Daniela GHETU, 2017-03-02 The Romanian MTPL insurance market has continued its ascending trend in the last quarter of the last year, reaching GWP of RON 4.03 billion for the full year of 2016. The number of MTPL contracts went up to 4.98 million, in annual units, 5% more y-o-y, according to the Romanian FSA data. More DallBogg - the second big Bulgarian insurer to enter Romanian MTPL market by Vlad BOLDIJAR, 2017-03-02 The Romania's Financial Supervisory Authority - ASF announced, based on the FOS agreement, it has authorised Bulgarian insurer DallBogg to provide MTPL policies on the Romanian market. It is worth to mention that DallBogg becomes the second Bulgarian insurer operating on the Romanian MTPL market, after EUROINS - the market leader. More Intesa Sanpaolo not interested in buying Assicurazioni GENERALI by Daniela GHETU, 2017-03-02 Intesa Sanpaolo SpA, Italy's second-largest bank, has put the final point to a story that has lately shaken world of finance, by announcing Friday that it has decided against proceeding with a possible takeover of Assicurazioni GENERALI SpA. More Turkish insurer ANADOLU Sigorta detects fraud with FRISS solution by Daniela GHETU, 2017-03-02 Turkish insurer ANADOLU Sigorta, one of the largest providers of non-life insurance services in Turkey, with over 1 billion Euro in GWP in 2016, has announced that is live with FRISS solution Fraud Detection at Claims. The company turned to FRISS because the insurer is aware of the threat from fraudsters. More JLT, FY2016 preliminary results: 9% revenue growth and GBP 172.6 million underlying profit before tax by Daniela GHETU, 2017-03-02 Despite the continued challenging trading environment which persisted throughout the year - inclusing sustained softness in both the insurance and reinsurance rating environments, depressed commodity prices and lacklustre global GDP growth -, JLT delivered a good set of financial results in 2016, as the preliminary report published by the company shows. More AXA's FY2016 revenues crossed the EUR 100 billion mark for the first time by Vlad BOLDIJAR, 2017-03-02 The French insurance group AXA reported aggregate FY2016 revenues of EUR 100.19 billion, up from EUR 98.14 billion at the end of 2015, while the net income was up by 4% y-o-y to EUR 5.83 billion, according to the activity indicators published by the group. More ARCH and ARIG - two new players on the Gulf reinsurance market by Daniela GHETU, 2017-03-02 Two new players will act on the Gulf reinsurance market, housed in the Dubai International Financial Centre (DIFC). While the Bahrain-domiciled ARIG has just received DFSA - Dubai Financial Services Authority's licence for ARIG Insurance Management (AIM), the Bermuda-based ARCH Re has announced the formation of ARCH Underwriters (Gulf) (AUGL) to be based in the DIFC, subject to final approval from the DFSA. More VERISK Analytics acquires UK-based ENI by Vlad BOLDIJAR, 2017-03-02 The American VERISK Analytics, a leading data analytics provider, announced it has acquired Emergent Network Intelligence (ENI), a leading innovator in insurance claims efficiency and fraud detection solutions based in Newcastle upon Tyne, United Kingdom. More ON THE MOVE Jonathan DIXON to replace Yoshihiro KAWAI as IAIS's Secretary General The International Association of Insurance Supervisors (IAIS) has named Jonathan DIXON as the successor to long-time Secretary General Yoshihiro KAWAI. DIXON will become Secretary General following the IAIS Annual Conference on 3 November 2017. More Kaan GUNAY named as Assistant General Manager of ALLIANZ Turkey Kaan GUNAY has been reassigned as the Assistant General Manager of ALLIANZ Turkey, Responsible for IT as of February 1, 2017, reporting to Tolga GURKAN, Assistant General Manager of ALLIANZ Turkey Responsible for Operations. Kaan GUNAY joined ALLIANZ Turkey in 2013 as IT Director, Turkish Insurance News informed. More AIG names Rose Marie GLAZER Vice President, Deputy General Counsel and Corporate Secretary American International Group - AIG announced that Rose Marie GLAZER will join AIG as Vice President, Deputy General Counsel and Corporate Secretary on March 8. Previously she served as General Counsel - Americas and Corporate Secretary for SIEMENS Corporation since 2012. She succeeds Jeffrey WELIKSON, who is retiring. More KBC Group's CEO appointed Chairman of FEBELFIN The Boards of Directors of FEBELFIN (the Belgian Financial Sector Federation) and the Belgian Bankers' and Stockbroking Firms' Association appointed Johan THIJS, KBC Group CEO, to the position of Chairman for a period of three years. More CHUBB appoints Adrian MATTHEWS as COO, Continental Europe CHUBB announced the appointment of Adrian MATTHEWS, currently Executive Vice President and Zonal Leader Major Accounts for the company's Midwest, Canada and Northeast regions in North America, to the role of Chief Operating Officer (COO), Continental Europe. More New management team at Hannover Life Re America following David WHEAT's retirement Clint THOMPSON, was appointed Executive Vice president and CFO within Hannover Life Reassurance Company of America, effective Jan. 1, 2017, thus taking over the positions held by David WHEAT, who will retire after June 30. More

ANALYSIS Despite its complexities, insurers and companies can get to grips with cyber risk, Swiss Re sigma says Cyber risk is a growing concern for businesses, with recent attacks demonstrating that the costs of a cyber breach can escalate well beyond managing the fallout of lost or corrupted data. Swiss Re's latest sigma report "Cyber: getting to grips with a complex risk", says businesses need to do much more to integrate cyber security into their risk management programmes. Initiatives to boost cyber resilience are underway. More STATISTIC UPDATES Lithuania FY2016 XPRIMM EVENTS Inclusive Insurance And Microinsurance 17 May 2017, Ljubljana, Slovenia FIAR 2017 - The International Insurance-Reinsurance Forum 21-25 May 2017, Poiana Brasov, Romania AIIF - Azerbaijan International Insurance Forum June 2017 Baku, Azerbaijan IIF 2017 - PROPERTY Insurance Conference 26-27 June 2017, Munchen, Germany IIF 2017 - MOTOR Insurance Conference September 2017, Istanbul, Turkey PARTNER EVENTS 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 Frontier-2017 28 March 2017, Moscow, Russia 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 Global Summit for Insurance Innovation 1-2 June 2017, Madrid, Spain XV Russian Insurance Summit 12 July 2017, Saint Petersburg, Russian Federation IIS Global Insurance Forum 17-20 July 2017, Park Westminster Bridge Hotel, London International Conference "RISKS & CLAIMS-2017" Risk Assessment and Loss Adjustment 20 September 2017, Moscow, Russian Federation PRESS CUTTINGS ARMENIAN insurers collected AMD 17.8 billion in 2016 as GWP for mandatory insurance of vehicles AZERBAIJAN: VHI, property insurance and OSAGO determine situation on insurance market in 2016 CZECH REPUBLIC: Unipetrol gets another insurance compensation MACEDONIA: Triglav's unit triples after-tax profit in 2016 POLAND: AXA expands to over 15,000 sqm in WTT SLOVENIA: Adriatic Slovenica First in Region to Automate All Steps of Life Insurance Sales and Underwriting TURKEY: Fast fish will eat the slow fish in Insurance business TURKEY: Fire Hazard is Still the Biggest Threat: Investments are Turning to Dust TURKEY: Generali: The Total Number of Fire Incidents in 2016 in Istanbul Adds up to 28,586 TURKEY: Mehmet Simsek: 'We are working towards a new model for traffic insurance' TURKEY: Transfer of Isık Insurance is approved UKRAINE: Busfor Ukraine wants to introduce passenger insurance, food 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