XPRIMM News No. 357, 18 May, 2017

		Insurance Newsletter, No. 357, 18 May, 2017 Click here to subscribe! Click here to unsubscribe!

TOP NEWS Romania: The new law on MTPL adopted; see here what are the main changes it provides for by Andreea RADU, 2017-05-18 The Chamber of Deputies (the lower house in Romania's bicameral Parliament) adopted on Tuesday, 16 May 2017, the New MTPL Law, which brings important changes to the local motor insurance industry. More The "Inclusive Insurance and Microinsurance" Conference gathered insurance professionals in Ljubljana by Alexandru CIUNCAN, 2017-05-17 Basic concepts about inclusive insurance and microinsurance, global best practices and the place of microinsurance in the Solvency II regime are just a few of the topics analyzed yesterday at the "Inclusive Insurance and Microinsurance" Conference that took place in Ljubljana. More STATISTICS: CEE, FY2016: 1.62% y-o-y regional growth supported mainly by the motor insurance lines by Daniela GHETU, 2017-05-18 The average growth rate achieved by the CEE insurance industry in 2016 was of 1.62% y-o-y, lower than the overall economic growth. Overall, GWP in the region amounted to EUR 31.3 billion, while claims paid neared EUR 15 billion. More GENERALI, 1Q2017: Profit hit by lower investment gains and higher taxes by Vlad BOLDIJAR, 2017-05-18 Italian GENERALI's GWP in Q1 2017 stood at EUR 19.23 billion (-2.5% y-o-y). The Combined Ratio was 93.1% (+1.1%), the operating result improved to EUR 1.21 billion (+4.2%) while the net profit was down by 9% to EUR 535 million. More ALLIANZ, 1Q2017: Operating profit rises strongly supported by Life and Health and Asset Management by Vlad BOLDIJAR, 2017-05-18 ALLIANZ reported total revenues of EUR 36.2 billion in 1Q 2017, 2.5% up y-o-y. Operating profit grew by 9.4%, to EUR 2.9 billion, driven by the L&H and Asset Management segments' performance, the insurer said. More EUROINS Insurance Group expects BGN 700 million in premiums for 2017 by Vlad BOLDIJAR, 2017-05-18 Bulgarian EUROINS Insurance Group AD (EIG) announced Q1 2017 GWP of BGN 170 million (~ EUR 87 million), 40% up y-o-y. "EIG's management forecasts a premium income of BGN 700 million for the whole 2017", said EIG. More SAVA Re Group Q1 2017 consolidated net profit rises 29% y-o-y by Vlad BOLDIJAR, 2017-05-18 Slovenian SAVA Re Group reported Q1 2017 GWP of EUR 159.9 million, up by 4.2% y-o-y, while the net profit increased by 29% y-o-y to EUR 9.2 million. More PZU sticks to its announced 2020 strategy under new leadership by Daniela GHETU, 2017-05-18 Polish state-run insurer PZU said it will stick to the group's existing strategy under new CEO Pawel SUROWKA, and a dividend payout of at least 50% of net profit this year, reported Reuters. More TALANX, 1Q2017: Net profit rose by 7.2% y-o-y; 2017 outlook reaffirmed by Vlad BOLDIJAR, 2017-05-18 German insurer TALANX posted an Q1 2017 net income of EUR 238 million (vs. EUR 222 million at the end of March 2016, or 7.2% more y-o-y) reaffirming its outlook for financial year 2017. More RENOMIA, double awarded at the Insurer of the Year Awards gala by Adina TUDOR, 2017-05-18 RENOMIA was awarded the Czech Insurance Broker of the Year Awards 2016 ceremony's highest prize, while Jirina NEPALOVA, CEO RENOMIA, received the honorary award for the Personality of the Insurance Market. More Russian state reinsurer received financial guarantees of RUB 49.7 billion from the Central Bank by Olesea ADONEV, 2017-05-17 The Russian Central Bank's Board of Directors has approved the granting of a financial guarantee of RUB 49.7 billion to the Russian National Reinsurance Company (RNRC). More PASHA Life insurance reports y-o-y twofold increasing premiums by Daniela GHETU, 2017-05-18 Azeri insurer PASHA Life collected AZN 52.41 million in premiums in January-April 2017, a double volume compared with the same period of 2016, the company has stated on 16 May. More INSURANCE & TECHNOLOGY FRISS: Uncovering insurance fraudsters If you compare the insurance fraud business to other types of business, it pays off to commit insurance fraud. The benefits are great, the chances of being caught are low, and the sanctions you get once caught are low as well. So, whether working in the claims, financial, underwriting or SIU department; you will all deal with fraud at some point. And it does not stop at an organization or a border. Fraudsters do market research. They use different modus operandi, use different insurers, fake identities; just to make sure that they don't get caught. More ON THE MOVE VIG appointed two members to its Supervisory Board by Vlad BOLDIJAR, 2017-05-18 Gabriele SEMMELROCK-WERZER, Member of the Board of KARNTNER SPARKASSE, and Gerhard FABISCH, Chairman of the STEIERMARKISCHE SPARKASSE's Board, were appointed to the VIENNA Insurance Group (VIG) Supervisory Board. More Marko JAZBEC confirmed as head of the Slovenian SAVA Re group by Vlad BOLDIJAR, 2017-05-18 Slovenian reinsurer SAVA Re announced on 11 May 2017 that Marko JAZBEC was granted the licence for performing the function of Management Board member from the Insurance Supervision Agency. More AIG appoints Brian DUPERREAULT President and Chief Executive Officer by Vlad BOLDIJAR, 2017-05-18 American International Group (AIG) announced the appointment of Brian DUPERREAULT, former CEO of HAMILTON Insurance Group. as President, Chief Executive Officer and Director effective May 14, 2017. More PRESS CUTTINGS Aegon reports strong increase in net income in 1Q 2017 BOSNIA: Triglav INT's buyout bid for Bosnia's Triglav Osiguranje fails BULGARIAN regulator suspends EIG's buyout bid for Euroins CROATIAN insurers' end-April gross written premiums up 1.11% y/y KAZAKHSTAN: A.M. Best Affirms Credit Ratings of Kommesk-Omir Insurance Company JSC KAZAKHSTAN: A.M. Best Downgrades Credit Ratings of JSC Insurance Company Centras Insurance KBC Group: Excellent first-quarter result of 630 million euros KOSOVO: Insurance has increased by 6.1 percent SLOVENIAN firms warned to take cybersecurity seriously UKRAINE: Insurance companies are trying to lessen the cost of CASCO

The 20th edition of FIAR - The International Insurance-Reinsurance Forum starts on Sunday in Poiana Brasov by Adina TUDOR, 2017-05-18 Re/Insurance professionals from all over the world, representatives of European authorities and national insurance organizations, specialists representing brokerage companies, lawyer firms, and many more companies from related domains gather on Sunday, 21 May, at Poiana Brasov in Romania at the 20th edition of FIAR - The International Insurance-Reinsurance Forum. More INTERVIEW Fadi AbuNahl Group Chief Executive Officer & Director TRUST Re Slowing economic growth, continued pressure on pricing, emerging risks (e.g. Cyber hacking) and regulatory changes such as Solvency II in Europe, C-ROSS in China, IRDA in India, and new South African regulations are some of the main challenges we face. Understanding the challenges of reinsurance activity in the CEE also means understanding what stakeholders perceive, what they want, and meeting these expectations. More STATISTIC UPDATES CEE Overall market data FY2016 CEE Life ins. data FY2016 CEE Life Unit-linked ins. data FY2016 CEE Non-life ins. data FY2016 CEE MTPL market data FY2016 CEE Motor hull ins. data FY2016 CEE Property ins. data FY2016 CEE GTPL ins. data FY2016 SEE Overall market data FY2016 CIS Overall market data FY2016 XPRIMM EVENTS 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 PARTNER EVENTS 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 CURRENT XPRIMM REPORTS RUSSIA FY 2016 KAZAKHSTAN FY2015 & 1H2016 TURKEY FY2015 & 1H2016 ROMANIA 1Q2016 & 1H2016 Ins. Report CEE, SEE & CIS – 1H2016 Motor Ins. Report FY2015 & 1H2016 Property Ins. Report FY2015