XPRIMM News No. 364, 13 July, 2017

		Insurance Newsletter, No. 364, 13 July, 2017 Click here to subscribe! Click here to unsubscribe!

Russian Insurance Summit 2017 Russia: Market's modernization through digitalization and consumer protection are the Central Bank's top priorities for the insurance sector by Oleg DORONCEANU, 2017-07-12 "We consider the market's cleaning process has come to an end and we are having a more mature market now," Sergey SHVETSOV, First Vice President, Central Bank, Russian Federation stated today at the Russian Insurance Summit 2017, in Saint-Petersburg. More KOLLER: We need to focus more on prevention to properly respond to the cyber risks challenge by Oleg DORONCEANU, 2017-07-12 "Implementation of the Solvency II regime in Russia will be a very complex process, but it is very good thing that it started and Insurance Europe is happy to support it all along," Michaela KOLLER, Director General, Insurance Europe said today. More RNRC targets a RUB 5 billion international reinsurance portfolio until 2021 by Ana PREDA, 2017-07-12 The Russian National Reinsurance Company (RNRC) ended 1H2017 with reinsurance premiums of RUB 3 billion, over 6 thousand concluded contracts and assets of RUB 25 billion, Nikolay GALUSHIN, President of company stated today. More TOP NEWS STATISTICS: TURKISH insurers' Q1 GWP saw a 15.7% y-o-y positive trend by Vlad BOLDIJAR, 2017-07-12 Turkish insurance market's GWP was of TRY 12.4 billion (about EUR 3.2 billion) in 1Q2017, 15.7% up y-o-y in nominal terms (and 4% more y-o-y in real terms), according to the preliminary data published by the local association - TSB. More STATISTICS: SLOVENIAN market posted positive rates on almost all business lines by Vlad BOLDIJAR, 2017-07-12 Slovenian insurers posted Q1 GWP of EUR 607.4 million, 6.6% up y-o-y. Life segment totaled EUR 167.7 million, up by 13.7% y-o-y, while non-life insurers reported GWP of EUR 439.7 million, about 4.2% up y-o-y. More Portuguese insurers will pay a total EUR 2.5 million in special compensations to families of the catastrophic wildfire victims by Daniela GHETU, 2017-07-13 Portuguese insurance companies have decided to collectively set up a special fund of EUR 2.5 million to grant extraordinary compensations in support of the families of people who died as a result of the wildfires that took place in the province of Pedrogao Grande. More Hannover Re expands its ILS activities completing three further transactions by Daniela GHETU, 2017-07-13 Hannover Re has completed three further transactions as part of its Insurance-Linked Securities (ILS) activities, in a total amount of USD 960 million, a company's press release reads. More Generali has issued the first European multi-peril catastrophe bond by Daniela GHETU, 2017-07-13 Generali returns to the ILS market with an EUR 200 million cat bond on floods and windstorms in Europe and earthquakes in Italy. The transaction is the first ever European multi-peril indemnity triggered Rule 144A catastrophe bond, the company has announced. More GREECE: Eurolife ERB chooses FRISS solution to prevent insurance fraud by Vlad BOLDIJAR, 2017-07-12 Eurolife ERB has selected the FRISS solution to confront insurance fraud more effectively. Eurolife ERB will be using FRISS to assess risks at underwriting and to detect fraud during the claims process, has announced FRISS. More TRENDS & MARKETS PCS H1 2017 Catastrophe Bond Report: We saw a show of brute market force in the Q2 2017 Following a record-setting first quarter, catastrophe bond issuance activity surged even further. Sponsors completed 21 transactions and raised an eye-popping USD 6.5 billion. That brought first-half totals to 29 transactions and nearly USD 8.8 billion in new limit, reads the recent PCS H1 2017 Catastrophe Bond Report. More ON THE MOVE MMC appoints John DOYLE CEO of Marsh by Vlad BOLDIJAR, 2017-07-12 Marsh & McLennan Companies (MMC) announced the appointment of John DOYLE as Chief Executive Officer of Marsh, effective immediately, replacing Peter ZAFFINO after his recently announced move to AIG. More James KENT to replace CAVANAGH as global CEO of WILLIS Re by Vlad BOLDIJAR, 2017-07-12 Global reinsurance broker WILLIS Re has announced that James Ken will succeed John CAVANAGH as he steps down from his position as global CEO. More Former Marsh CEO named as Global Chief Operating Officer of AIG by Vlad BOLDIJAR, 2017-07-12 American International Group (AIG) announced the appointment of Peter ZAFFINO as Executive Vice President, Global Chief Operating Officer effective August 1, 2017. More PRESS CUTTINGS BULGARIA: Board of Euroins says EIG's buyout bid is fair SLOVENIA: Insurer Sava with lower profit due to hail payouts UKRAINE: Yaroslavsky announces purchase of INGO

INTERVIEW Nicola RAUTMANN Market Executive Austria & CEE, Swiss Re Christian ENGELN Market Head Russia & CIS, Swiss Re We currently expect the immediate impact of digitalization to be on sales, with an increased ability to reach clients and offer cross-selling of products. Data could be pre-filled, which is likely to increase sales conversions. The full benefits of digitalization however will depend on the extent to which data owners are able to make use of their data, including sharing it with other parties. More STATISTIC UPDATES Turkey 1Q2017 Slovenia 1Q2017 XPRIMM EVENTS Insurance Master Class with Prof. Karel Van HULLE 22 September 2017, Bucharest, Romania IIF 2017 - MOTOR Insurance Conference 6 October 2017, Istanbul, Turkey Insurance Conference - Republic of Moldova 10 October 2017, Chisinau, Republic of Moldova ICAR 2017 - The International CAtastrophic Risks Forum 18 October 2017, Bucharest, Romania Baden-Baden XPRIMM Reception 22 October 2017, Baden Baden, Germany IIF 2017 - Insurance in the Digital World 14 November 2017, Vienna, Austria IIF 2017 - MOTOR Insurance Conference November 2017 Baku, Azerbaijan PARTNER EVENTS IIS Global Insurance Forum 17-20 July 2017, Park Westminster Bridge Hotel, London Les Rendez-vous de Septembre 2017 9-14 September, 2017, Monte Carlo, Monaco 7th Annual Risk Management Forum 14-15 September, 2017, Vienna, Austria International Conference "RISKS & CLAIMS-2017" 20 September, 2017, Moscow, Russian Federation Baden Baden Meetings 2017 22-26 October 2017, Baden Baden, Germany CURRENT XPRIMM REPORTS RUSSIA FY 2016 KAZAKHSTAN FY2015 & 1H2016 TURKEY FY2015 & 1H2016 ROMANIA FY2016 Ins. Report CEE, SEE & CIS – 1H2016 Motor Ins. Report FY2015 & 1H2016 Property Ins. Report FY2016