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XPRIMM News No. 357, 18 May, 2017

XPRIMM News
Insurance Newsletter, No. 357, 18 May, 2017

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INTERVIEW - ON THE MOVE - INSURANCE & TECHNOLOGY - TOP NEWS - CURRENT REPORTS

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.
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img_lead_9445 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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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).
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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.
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INSURANCE & TECHNOLOGY
ins_and_techFRISS: 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.
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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.
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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.
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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.
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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.
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VIG
JLT

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.
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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

OMNIASIG
MARSH

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

Belarus_Re_10ani_120
TRUST RE

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

EUROINS
GLOBASIG

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

XPRIMM News