 TOP
NEWS |
 VIG preliminary results for 2016 show business stability and improved profitability; over 100% y-o-y increase in profit before taxes
by Daniela GHETU, 2017-03-23
Vienna Insurance Group (VIG) expects all-around positive results based on the preliminary figures for 2016. "We have achieved all our major targets for 2016. This sends a clear signal of the stability we feel is important to be a reliable partner in times of dynamic change," emphasised today Elisabeth STADLER, CEO of Vienna Insurance Group at a press conference in Vienna.
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 Inclusive insurance and Microinsurance for the CEE and Transcaucasian regions - under discussion in Ljubljana
by Daniela GHETU, 2017-03-22
Inclusive insurance and Microinsurance, as a more specific tool for enabling the inclusion into insurance services of low-income population, play a major role in providing financial safety-net for large parts of population and thus providing a framework for prosperity and stability of their daily lives and businesses. This is concept that underlies the "Inclusive Insurance and Microinsurance" Conference, to take place in Ljubljana, on May 17, 2017.
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Austria, FY2016: Life insurance remains on a downward trend, affecting the overall market size
by Daniela GHETU, 2017-03-22
According to the Austrian Insurers Association - VVO, the preliminary figures for 2016 show an overall drop in the premium income of 2.1%, to EUR 17 billion, the main driver of the downward trend being the life insurance segment. The total insurance benefits for the year 2016 amounted to 14.8 billion euros - a drop of 3.9% y-o-y.
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STATISTICS: HUNGARY, FY2016: the MTPL tariffs increase sustained the market GWP volume evolution
by Daniela GHETU, 2017-03-23
Hungarian insurance market ended 2016 with GWP of HUF 886 billion (EUR 2.85 billion), about 6% up y-o-y, benefitting especially from the positive effect exerted by the MTPL premium increase on the underwriting volume.
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STATISTICS: POLAND FY2016: life insurance falling GWP offset by the MTPL premiums' increase
by Daniela GHETU, 2017-03-23
Polish insurers' business remained stable in 2016, with total GWP of PLN 56.04 billion (EUR 12.7 billion), 2.25% up y-o-y in local currency, but slightly decreasing (-1.5%) when denominated in European currency. Life insurance continued to witness a falling trend, especially on the UL products line, which saw a 23% reduction in premiums.
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M&A deals expected to remain a widely used tool by insurers in search of growth
by Daniela GHETU, 2017-03-22
The number of completed M&A in the global insurance industry fell to 387 in 2016, 13% down from the 444 transactions recorded in 2015, said Clyde & Co's in a recent report*. KPMG International describes the trend as a come back to normal, after the blowout performance of 2015**.
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GROUPAMA net profit down by 12% in 2016
by Vlad BOLDIJAR, 2017-03-22
French insurer GROUPAMA reported a EUR 46 million decrease in its 2016 net profit, to EUR 322 million (EUR 368 million in 2015), a EUR 10 million decrease in its economic operating income (to EUR 153 million), a non-life combined ratio of 100.3% (vs. 99.2% as at 31 December 2015) and stable premium income of EUR 13.57 billion (+0.1% y-o-y).
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Hannover Re acquires Lloyd's syndicate ARGENTA
by Daniela GHETU, 2017-03-22
HANNOVER Re has reached an agreement to acquire the UK holding company ARGENTA Holdings plc ("Argenta"), which owns the companies ARGENTA Syndicate Management and ARGENTA Private Capital, as well as a pro rata share of the Lloyd's syndicate ARGENTA Syndicate 2121. The parties have agreed to maintain confidentiality regarding the purchase price.
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SAVA Re announced the early repaiment of its subordinated debt
by Daniela GHETU, 2017-03-22
SAVA Re has announced today the repaiment of the first transche of EUR 12 million of the subordinated debt contracted in 2006 and 2007, to finance the Group's expansion the markets of the former Yugoslavia and to improve its capital adequacy position in accordance with the then applicable insurance laws and the Standard & Poor's model.
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RNRC has launched a website in the Chinese language
by Daniela GHETU, 2017-03-22
Russian National Reinsurance Company is the first Russian reinsurer, whose Internet site became available in the Chinese language, which is the key language of South-East Asia. The Chinese language is the official language of China, Taiwan and Singapore, it is spoken worldwide by over 1.3 billion people.
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Combating the insurance fraud - under scrutiny in Moscow with the Russian market's experts
by Olesea ADONEV, 2017-03-20
On March 28th will take place in Moscow the International Roundtable Meeting "Boundary-2017. Methods and instruments to combat unlawful developments in insurance", organized by ARIA - the All-Russian Insurance Association.
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A dozen European start-ups will be defending their projects during Pitch Day
by Adina TUDOR, 2017-03-17
12 start-ups from a variety of countries have already confirmed that they will be presenting their projects at the InsurtechNow Pitch Day, taking place on June 2 in Madrid, Spain.
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| ON
THE MOVE |
 Giulio TERZARIOL appointed to ALLIANZ SE Supervisory Board
by Daniela GHETU, 2017-03-23
Giulio TERZARIOL (45) has been appointed to the ALLIANZ SE Board
of Management as of January 1, 2018. He takes over responsibility for
the Finance, Controlling and Risk Management division. He is succeeding Dieter WEMMER (60), whose contract ends at the end of 2017 upon reaching the Board's designated age limit.
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 Niran PEIRIS appointed to the ALLIANZ SE Board of Management; Christof Mascher's contract extended until 2020
by Daniela GHETU, 2017-03-23
Niran PEIRIS (55) is appointed
to the Board of Management of ALLIANZ SE as of January 1, 2018 until
December 31, 2020. Niran PEIRIS has been with ALLIANZ for 16 years in
various management positions at ALLIANZ Australia, where he has served
as the Chief Executive Officer since the beginning of 2013. He will take
over responsibility for the Global Insurance Lines, Anglo Markets,
Russia, ESG from Axel THEIS (58).
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James TUPLIN appointed as Head of Cyber & Technology, Media and Telecoms, International at XL Catlin
by Daniela GHETU, 2017-03-23
XL Catlin's insurance operations today announced the appointment of James TUPLIN as Head of Cyber & Technology, Media and Telecoms, International. In this role, Mr. TUPLIN is responsible for the underwriting of Cyber insurance, as well as Professional Indemnity insurance for the Technology and Media sectors. He is based in London.
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| ANALYSIS |
 Global insurance industry: EUR 3.6 trillion in 2016, up 4.4% y-o-y
Initial projections by ALLIANZ Research suggest that total global premium income rose to a new record high of eur 3,650 billion last year (excluding health insurance). In a y-o-y comparison, the nominal increase - after adjustments to reflect foreign currency translation effects - comes to an estimated 4.4%.
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