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XPRIMM News No. 352, 13 April, 2017

Insurance Newsletter, No. 352, 13 April, 2017

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LIVE from Almaty: XI International Conference "Insurance in Central Asia"
XIth Int'l Conference "Insurance in Central Asia" started today in Almaty
by Oleg DORONCEANU, 2017-04-13
The XIth International Conference "Insurance in Central Asia" staretd today in Almaty, Kazakhstan. XPRIMM reports are available at the conference stands.

img_lead_9301NBR: Life insurance was the growth driver in 2016; market consolidation to continue
by Oleg DORONCEANU, 2017-04-13
"Developing online sales and fraud reduction are among the main priorities of the Russian market in 2017," said Dmitry KUDLOV, Head of the Methodological Unit of Voluntary Insurance, Insurance Supervision Dept., NBR.

img_lead_9302RNRC: The share of reinsurance premiums remaining in Russia will rise in 2017
by Oana RADU, 2017-04-13
"RNRC is ready to play an active role in the EEU reinsurance markets' integration," Mikhail SEPP, Vice-President, RNRC said at the "Insurance in Central Asia" conference in Almaty, Kazakhstan.

img_lead_9303KURMANOV, NBRK: Accession to the Green Card system and several regulatory changes to be expected in the Kazakh market
by Oleg DORONCEANU, 2017-04-13
"The Kazakh market increased by 26% in 2016, while claims rose by 125%," Zhanat KURMANOV, Director, Insurance Supervision Department, National Bank of the Republic of Kazakhstan said in Almaty.

img_lead_9299S&P: Russia and Kazakhstan will continue to depend a lot on the western reinsurance market
by Oleg DORONCEANU, 2017-04-13
USD 3.6 billion is the reinsurance capacity of the Russian market, while in Kazakhstan the capacity is of USD 1 billion, Ekaterina TOLSTOVA, Associate Director, S&P Global Ratings said in Almaty.

img_lead_9300ZENNERS, CoB: Kazakh future Green Card policies' coverage may be initially limited to the neighbouring countries
by Oleg DORONCEANU, 2017-04-13
"There is a strict financial discipline in the Green Card system and Kazakh motor insurers should prepare to observe it," Jean ZENNERS, President of CoB stated.

img_lead_9316SIMONITI: there should be competition on MTPL market, but liberalization needs a proper preparation
by Oleg DORONCEANU, 2017-04-13
"MTPL is the most complex product of the market, is providing social security and it is in the public interest," said Sergej SIMONITI, President, Insurance Supervisory Agency, Slovenia in Almaty.

img_lead_9298WICHTOWSKI: EUR 350 million was the bill paid by Polish motor insurers for claims outside Poland
by Oleg DORONCEANU, 2017-04-13
"In 2016, there were 62.000 claims made by Polish drivers outside the country," Mariusz WICHTOWSKI, President, Polish Motor Insurers Bureau said at the International Conference "Insurance in Central Asia".

STATISTICS: Hungarian market leaders in 2016
by Vlad BOLDIJAR, 2017-04-13
The thirty active members of MABISZ (the Hungarian insurance association) posted aggregate FY2016 GWP of HUF 920.6 billion (~ EUR 2.9 billion), up by 5.1% y-o-y, according to the association's website.

STATISTICS: LATVIAN, FY 2016: Insurers posted EUR 105 million in profit
by Vlad BOLDIJAR, 2017-04-13
The Latvian insurance market totaled EUR 532.4 million at the end of 2016, 0.2% more y-o-y, according to data published by the Financial and Capital Market Commission - FKTK.

Sale of Bosnian SARAJEVO Insurance Company raises heated discussions
by Daniela GHETU, 2017-04-13
FBiH Government's green light for the sale of its 45.5% stake in SARAJEVO Insurance has caused an avalanche of criticism, mostly related to the target price set for the transaction.

Aon: Severe US weather expected to cost insurers more than USD 2 billion in March
by Daniela GHETU, 2017-04-13
Aon's latest Global Catastrophe Recap report reveals that an extremely active period for severe weather persisted in the US throughout March, leading damages expected to exceed USD 2.0 billion.

Join leading experts at the 7th Annual Risk Management Forum
by Adina TUDOR, 2017-04-12
Risk management in banking had to overcome many changes in past years, mainly in response to regulations that emerged from the global financial crisis. And, as there are still new challenges ahead, risk management will experience even more extensive change in the next decade.

SCOR receives approval to open a branch of SCOR Global Life SE in Japan
by Vlad BOLDIJAR, 2017-04-13
The Financial Services Agency of Japan (FSA) has granted SCOR Global Life SE approval to open a branch office in Tokyo as of April 4, 2017.

ZURICH completes acquisition of travel insurance provider COVER-MORE
by Vlad BOLDIJAR, 2017-04-13
ZURICH Insurance Group has successfully acquired COVER-MORE Group, a travel insurance and assistance solutions provider based in Sydney with a strong market position in Australia, India and the U.S.

Moscow: top re/insurers from 16 countries attended the XXI-th Annual Reinsurance Conference
Despite the difficult situation in the Russian insurance industry the XXI-th Annual Reinsurance Conference brought together, in Moscow, 217 participants from 16 countries. XPRIMM launched the FY2016 Russian Insurance Profile.

Pawel_Surowka80CEE largest insurance company, PZU, appoints Pawel SUROWKA as President of the Management Board
by Daniela GHETU, 2017-04-13
The Supervisory Board of PZU SA decided to entrust Pawel SUROWKA with the function of the President of the Management Board of PZU SA, thus ending the current interim mandate of Marcin CHLUDZINSKI.

wolfgang-weiler-gdv80Wolfgang WEILER to take over the GDV presidency
by Daniela GHETU, 2017-04-13
The Bureau of the German Insurance Association (GDV) has unanimous elected Dr. Wolfgang WEILER as President of GDV with effect from 27 September 2017.

Birchall-Gina_LARGE80Gina Cinelli BIRCHALL to be COO at LL Global, the common management structure of LIMRA and LOMA
by Daniela GHETU, 2017-04-13
LL Global, Inc., the umbrella organization for LIMRA and LOMA, today announced it has hired Gina Cinelli BIRCHALL to be chief operating officer (COO) for the organization.

Willis Towers Watson's CFO Roger MILLAY retires
by Daniela GHETU, 2017-04-13
Roger MILLAY, Willis Towers Watson's Chief Financial Officer will be voluntarily retiring, effective October 2, 2017, the company announced recently.

MMC names Keith WALSH Chief Financial Officer of Risk and Insurance Services
by Vlad BOLDIJAR, 2017-04-13
Marsh & McLennan Companies (MMC) announced today that Keith WALSH has been appointed Chief Financial Officer of the Company's Risk and Insurance Services (RIS) segment, which includes MARSH and GUY CARPENTER.

MMC names Dan FARRELL Head of Investor Relations
by Vlad BOLDIJAR, 2017-04-13
Marsh & McLennan Companies (MMC), announced that Daniel FARRELL has been named Vice President, Head of Investor Relations. Dan FARRELL 's new role is effective as of May 1, 2017.

AON names John BRUNO Chief Operations Officer
by Vlad BOLDIJAR, 2017-04-13
The global provider of risk management and human resources solutions AON, announced the promotion of John BRUNO to Chief Operations Officer position.

ACHMEA appoints Emma THOMAS as CEO ACHMEA Australia
by Vlad BOLDIJAR, 2017-04-13
ACHMEA has appointed Emma THOMAS as Chief Executive Officer of ACHMEA Australia, effective April 15, 2017 and pending regulatory approval. ACHMEA Australia is a dedicated agricultural insurance company.

FIAR 2017: What to expect and how to adapt to the regulatory challenges in the European insurance landscape
by Daniela GHETU, 2017-04-13
Given the ongoing "regulatory storm" throughout the last years, insurers are still keeping an eye on forthcoming changes to the regulatory framework within which they must operate. And they are not just a few mild corrections, but significant changes which may seriously challenge insurers' capacity to adapt and simultaneously evolve.


Hungary FY2016
Latvia FY2016


Inclusive Insurance And Microinsurance
17 May 2017, Ljubljana, Slovenia
FIAR 2017 - The International Insurance-Reinsurance Forum
21-25 May 2017, Poiana Brasov, Romania
IIF 2017 - PROPERTY Insurance Conference
26 June 2017, Munich, Germany
IIF 2017 - MOTOR Insurance Conference
September 2017 Baku, Azerbaijan
IIF 2017 - MOTOR Insurance Conference
October 2017 Istanbul, Turkey
Baden-Baden XPRIMM Reception
22 October 2017, Baden Baden, Germany
IIF 2017 - Insurance in the DIGITAL World
14 November 2017, Vienna, Austria


International Risk Management Conference
27-28 April 2017, Almaty, Kazakhstan
Market Developments within Direct Lending Conference
11-12 May, 2017, London, UK
Digitalisation today and tomorrow - Insurance Europe International Conference
1 June, 2017, Zurich, Switzerland
Global Summit for Insurance Innovation
1-2 June 2017, Madrid, Spain
"Insurance & Reinsurance Days" Conference
7-8 June 2017, Cracow, Poland
XV Russian Insurance Summit
12 July 2017, Saint Petersburg, Russian Federation

IIS Global Insurance Forum
17-20 July 2017, Park Westminster Bridge Hotel, London
Les Rendez-vous de Septembre 2017
September 9-14, 2017, Monte Carlo, Monaco
Baden Baden Meetings 2017
22-26 October 2017, Baden Baden, Germany


ARMENIA: Compulsory Vehicle Insurance "direct payout"tool launched on April 1 2017

AZERBAIJAN: ADIF pays nearly AZN 727M in compensation to closed banks' customers

AZERBAIJAN: Compulsory car insurance reduced by 10.2%

AZERBAIJAN: PASHA Insurance has opened its new representative office in Aghsu

BOSNIA's Sarajevo Osiguranje net profit drops sharply in 2016

BULGARIA's Euroins Insurance Group to launch a buyout bid for insurer Euroins

BULGARIA's Sirma ICS launches digital insurance platform

BULGARIA: Euler Hermes keeps Bulgaria's credit rating at 'B2'

GREECE's National Bank gets four bids for insurance unit

HUNGARY: NN opens first innovation lab in the field of insurance

KAZAKHSTAN: National Bank expects insurance companies to merge

RUSSIA: Over 25% customers buy smartphone insurance

SERBIA's Dunav Osiguranje profit jumps 131% in 2016

SLOVENIA's Triglav plans gross dividend of 2.5 euro/share

SLOVENIA: Triglav INT launches buyout bid for 12% of Bosnia's Triglav Osiguranje insurer

UKRAINE pledges to transfer powers from financial services regulator to NBU, national securities and stock market regulator by 2018

UKRAINE's average vehicle age is 19.6 years, worst since 2000

UKRAINE: Head of Central Bank resigns

UKRAINE: Insurers increases the insurance payments to the population on 17% in 2016

UKRAINE: Insurers of Ukraine in 2016 increased taxes 17%

KAZAKHSTAN FY2015 & 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