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XPRIMM News No. 356, 11 May, 2017

Insurance Newsletter, No. 356, 11 May, 2017

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Swiss Re
img_lead_9435Less than one week to the Inclusive Insurance and Microinsurance" Conference in Ljubljana! Claim the last seats available!
by Daniela GHETU, 2017-05-11
Inclusion into insurance services of low-income population may play a major role in providing a financial safety-net for large parts of population, is concept that underlies the "Inclusive Insurance and Microinsurance" Conference, to take place in Ljubljana, on May 17, 2017.

Modern claims management technologies overviewed in Munich with Cees WERF and Zbigniew BACHMAN
by Daniela GHETU, 2017-05-11
Technological advancement is changing not only the underwriting and client management activities, but also the operations providing, in fact, for the very primary insurers' function - claims payment.

STATISTICS: GWP of EUR 142 million for MACEDONIAN insurers in 2016
by Vlad BOLDIJAR, 2017-05-11
Insurance market of Republic of Macedonia grew by about 5% in 2016 to MKD 8.7 billion (~ EUR 142 million) with a concurrent increase of 7.74% in the number of insurance contracts, according to data provided by the local Insurance Supervision Agency.

STATISTICS: SLOVAK Rep., FY2016: apparently stagnating business
by Daniela GHETU, 2017-05-11
According to the Slovak Insurance Association data, the Slovak insurers ended 2016 with GWP of EUR 1,987 million, a result which is more or less in line with the previous year's premium production.

ZURICH Group, 1Q2017: underlying BOP, excluding Ogden, up 14%
by Daniela GHETU, 2017-05-11
ZURICH recorded a strong performance in Q1 2017, with BOP, excluding Ogden1, of USD 1.2 billion, up 14% y-o-y, with positive performance across all businesses and a good investment result.

Q1 net income down 9% at AON
by Vlad BOLDIJAR, 2017-05-11
Insurance brokerage company AON announced its net income was down by 9% to USD 305 million in Q1 2017 compared with USD 337 million a year before.

AXA's Q1 revenues down by 0.3% y-o-y
by Vlad BOLDIJAR, 2017-05-11
French insurer AXA reported total revenues of EUR 31.6 billion for the first three months of 2017, down by 0.3% y-o-y.

HANNOVER Re Group Q1 net income down by 2.4% y-o-y
by Vlad BOLDIJAR, 2017-05-11
Group net income for HANNOVER Re contracted to EUR 264.8 million in 1Q 2017, or by 2.35% y-o-y, notes a statement of the world's third largest reinsurer. The value of earnings per share stood at EUR 2.20, the German reinsurer said.

MUNICH Re starts the 2017 financial year with a quarterly profit of EUR 557 million
by Vlad BOLDIJAR, 2017-05-11
MUNICH Re posted a profit of EUR 557 million (vs. EUR 436 million) in 1Q 2017, and affirmed its profit guidance of EUR 2.0 - EUR 2.4 billion for the full year, as the world largest reinsurer said in its 1Q earnings report.

WILLIS TOWERS WATSON Q1 net income up by 43.7% y-o-y to USD 352 million
by Vlad BOLDIJAR, 2017-05-11
The broking and solutions company WILLIS TOWERS WATSON reported Q1 2017 revenues of USD 2.3 billion, an increase of 4% as compared to 1Q 2016, the company said in its first quarter earnings report.

TURKEY: GIG aquired AIG Sigorta for USD 48 million
by Vlad BOLDIJAR, 2017-05-11
Kuwait's Gulf Insurance Group acquires 100% stake in Turkey's AIG Sigorta Anonim Sirketi (owned by Toronto-headquartered FAIRFAX Financial Holdings) for USD 47.9 million, Reuters annouced.

GENERALI: Risk management's importance is growing; compliance is becoming a huge issue worlwide
by Daniela GHETU, 2017-05-11
P/C insurance is globalizing, a lot of markets consolidating as to enhance their capabilities to provide global reach, Bill SKAPOF, head of global corporate and commercial, North America, GENERALI stated to A.M. BestTV.

Register at the "Insurance ALM and Asset Allocation under Solvency II" Conference
by Adina TUDOR, 2017-05-08
The low rate environment, coupled with the after effects of the recent Solvency II regulation has made it increasingly difficult for firms to meet their yield targets.

The "Pricing in Personal Lines Insurance" Conference analyses the balance between competitiveness and profitability
by Adina TUDOR, 2017-05-10
The "Pricing in Personal Lines Insurance" Conference, organized by marcus evans and supported by XPRIMM Publications as Media Partner, will provide an opportunity to focus on new and improved techniques to strike the balance between competitiveness and profitability. Machine learning and AI, data from non-obvious sources, dynamic pricing and data enrichment are all subjects that need to be talked about this year.

FITCH Ratings: double digit growth rates to be expected in the Kazakh market
by Daniela GHETU, 2017-05-11
Fitch Ratings says in a new report that the Kazakh insurance market is forecast to grow at double-digit rates in 2017-2021, given the recovering economy and the current low levels of insurance penetration.

ins_and_techTechnology and data: Focus on the good we can do

Technology. The press is covering it, everyone is talking about it and we, as an industry, are spending time and money investing in it. For all this reasons and more, we will shortly talk about this topic at our Swiss Re L&H Conference in Warsaw in May: "Think tomorrow! Innovative solutions for our industry."

Joyce PHILLIPS becomes CEO of the newly created global innovation unit of AXA
by Vlad BOLDIJAR, 2017-05-11
AXA announced the appointment of Joyce PHILLIPS as CEO of a new customer innovation and new business models unit, and as a Member of the Management Committee of the AXA Group, effective May 10th.

AON names Jason HOGG Leader of Cyber Solutions and CEO of STROZ FRIEDBERG

by Vlad BOLDIJAR, 2017-05-11
AON announced that Jason HOGG is the new Leader of AON Cyber Solutions, responsible for the growth strategy of the firm's solutions that help clients address and manage cyber risk.

ALLIANZ Australia names Richard FELEDY as CEO
by Vlad BOLDIJAR, 2017-05-11
ALLIANZ Australia named Richard FELEDY as its new Chief Executive Officer, effective January 1, 2018.
Richard FELEDY, currently the Chief Technical Officer of ALLIANZ Australia, will succeed Niran PEIRIS, who will join ALLIANZ SE's Board of Management with effect from January 1, 2018.

ALBANIA's Eurosig selling 90% of Insig's life-insurance business - report

AXA announces its intention to IPO its US operations

BULGARIA:'s EIG expects steep rise in premium income in 2017

Fitch upgrades Groupama's IFS to 'A-

KYRGYZSTAN: MP proposes to start executing law on home insurance

MACEDONIA: Osiguruvanje Makedonija's after-tax profit plunges in Q1

NN: Great enthusiasm for Junior Achievement activities in Greece, Bulgaria and Hungary

The 20th edition of FIAR: A new location, conferences & workshops held by international specialists, hundreds of bilateral meetings
by Adina TUDOR, 2017-05-11
Taking place between May 21 and May 25, in a new location - Poiana Brasov in Romania - the 20th edition of the International Insurance-Reinsurance Forum - FIAR gathers well-known specialists representing over 125 international companies and offers its participants the chance to join specialized conferences and workshops analyzing the latest trends in the insurance, reinsurance and brokerage fields, as well to participate at networking events and bilateral meetings which will enable them to discover new business opportunities and to gather valuable insights and experience.


General Director
ArmInfo News Agency

The supervisory authority pays attention to the process of automation, digitizing, the creation of databases and on-line services in order to improve the quality of customer service and, last but not least the reduction of the level of fraud not only among unscrupulous customers, but also in the case of insurance agents. A similar database has already been created for the MTPL segment and it will be useful for insurers to promote the voluntary types of insurance.

Macedonia FY2016
Slovakia 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


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


KAZAKHSTAN FY2015 & 1H2016
TURKEY FY2015 & 1H2016
ROMANIA 1Q2016 & 1H2016
Ins. Report CEE, SEE & CIS – 1H2016
Motor Ins. Report FY2015 & 1H2016
Property Ins. Report FY2015