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XPRIMM News No. 366, 10 August, 2017

Insurance Newsletter, No. 366, 10 August, 2017

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Over protectionism in three "key markets" affect the European (re)insurers' activity
by Vlad BOLDIJAR, 2017-08-08
Protectionist measures in three "key markets" for European (re)insurers - Indonesia, Turkey and Argentina - , can seriously affect their businesses, and also can have negative consequences for the economic development of the local markets, says Insurance Europe.

STATISTICS: ALBANIA, 1H2017: Double-digit increase for the number of issued contracts
by Vlad BOLDIJAR, 2017-08-10
The Albanian insurance market reached over ALL 7,415 million (EUR 56 million) during the period January - June 2017, or 12.03% more compared with 1H2016, the Financial Supervisory Authority informed.

STATISTICS: KOSOVO insurers reported a 20% y-o-y growth rate in 1H paid claims
by Vlad BOLDIJAR, 2017-08-10
The Kosovo insurers' GWP increased by 2.74% y-o-y, to EUR 41.05 million in the first half of 2017, as shown by the Central Bank's data.

Baltic States: BTA to take over InterRisk VIG
by Vlad BOLDIJAR, 2017-08-08
VIENNA Insurance Group announced it will strengthen its positions on the Baltic market by merging InterRisk VIG into BTA Baltic Insurance Company.

CROATIA Osiguranje Group's net profit rose by 37% in 1H2017
by Vlad BOLDIJAR, 2017-08-09
CROATIA Osiguranje Group, one of the largest insurer in the Adriatic region -, posted a first-half net profit of HRK 102 million (EUR 13.8 million), up 37% on the year.

EIG on track to meet the FY target after the 51% GWP increase in 1H 2017
by Vlad BOLDIJAR, 2017-08-09
The Bulgarian financial group EUROHOLD said its revenues from insurance business went up by 31.9% in 1H2017 to BGN 539.1 million (~EUR 276 million), while operating expenses increased by 31.3% to BGN 508.7 million (~EUR 261 million).

RNRC was registered in China as a foreign reinsurer
by Oleg DORONCEANU, 2017-07-26
The Russian National Reinsurance Company (RNRC) has got the Chinese market watchdog's approval to operate as a foreign reinsurer on the China's specialty market, a company's official press release said.

BELARUS: Fitch outlooks for three top insurers revised to positive; IFS ratings affirmed at B-
Fitch Ratings has revised the Outlooks on three state-owned Belarus insurers to Positive from Stable while affirming the Insurer Financial Strength (IFS) Ratings at 'B-'. The affected insurers are Belarusian Republican Unitary Insurance Company (Belgosstrakh), Belarusian National Reinsurance Organisation (Belarus Re), Export-Import Insurance Company of the Republic of Belarus (Eximgarant).

Global insurer ALLIANZ probes Armenian market's business potential
by Vlad BOLDIJAR, 2017-08-08
A delegation of the global insurer ALLIANZ led by Antoine ISSA, Regional Director for Middle East and South Africa has recently met the Armenian Minister of finance Vardan ARAMYAN, to assess the business prospects on the local market.

AEGON Poland takes over NORDEA pension fund's management
by Vlad BOLDIJAR, 2017-08-08
AEGON Poland has received the Polish Financial Supervision Authority's approval to take over the management of the NORDEA open pension fund (OFE) between September 1 and November 17, 2017.

Swiss Re, 1H2017: net income of USD 1.2 billion supported by the underwriting performance and good investment results
by Daniela GHETU, 2017-08-10
Swiss Re reported net income of USD 1.2 billion for 1H2017. The overall result was impacted by USD 360 million (net of retrocession and before tax) insurance claims in the aftermath of Cyclone Debbie in Australia.

MUNICH Re: EUR 733 million profit in Q2; 2017 profit guidance maintained at EUR 2 - 2.4 billion
by Daniela GHETU, 2017-08-10
MUNICH Re posted a consolidated profit for the first half-year of EUR 1,290 million entitling expectations for an annual result reaching the Group's 2017 profit guidance of EUR 2.0-2.4 billion.

After strong 1H results, ALLIANZ Group's operating result for 2017 expected to near EUR 10.8 billion
by Daniela GHETU, 2017-08-10
German ALLIANZ group achieved total revenues of EUR 30 billion, up by 2.0% y-o-y. All business segments contributed to this increase with the majority coming from the Life and Health business segment.

GENERALI, 1H2017: improved net profit and operating result. Operating return on equity again above target
by Daniela GHETU, 2017-08-10
GENERALI Group's operating result rose by 4.1% to EUR 2,588 million in 1H2017, while the net profit increased to EUR 1,221 million. The Group's annualized operating RoE was of 13.6%, in line with the plan objective.

SCOR recorded a 6.2% net income growth in 1H 2017
by Vlad BOLDIJAR, 2017-08-09
The Paris based reinsurer SCOR has reported a net income of EUR 292 million for 1H 2017, up 6.2% y-o-y. "Excluding the impacts of the change in the Ogden rate and of reserve releases, the net income would be EUR 350 million in H1 2017", SCOR representatives said.

AXA H1 net income up 1% to EUR 3.3 billion
by Vlad BOLDIJAR, 2017-08-09
AXA reported a 1% increase in net income for 1H2017 to EUR 3.3 billion, mainly driven by higher adjusted earnings (EUR 3.5 billion, up by 3%), a favourable change in the fair value of financial assets and lower restructuring costs.

MMC Q2 revenue increases by 3% reflecting growth across all operating companies
by Vlad BOLDIJAR, 2017-08-10
The MARSH & McLENNAN Companies (MMC) reported Q2 2017 consolidated revenues of USD 3.5 billion, up by 3% y-o-y. The operating income increased by 5%, to USD 764 million, while the net income attributable to the company was USD 501 million (vs. USD 472 million in Q2 2016).

AON's net income more than doubled in Q2
by Vlad BOLDIJAR, 2017-08-10
The risk and insurance brokerage services provider AON reported a net income attributable to shareholders of USD 769 million (or USD 2.93 per share) for Q2 2017, compared to USD 300 million (USD 1.11 per share), for the prior year quarter.

AON to acquire UNIROBE MEEUS Groep from AEGON for EUR 295 million
by Vlad BOLDIJAR, 2017-08-09
AON Groep Nederland announced it has entered into an agreement to acquire UNIROBE MEEUS Groep - UMG (an independent financial advisory group) from AEGON for EUR 295 million.

AXA will insure UBER drivers in France
by Vlad BOLDIJAR, 2017-08-08
UBER and AXA announced the signing of a partnership to offer accident cover for independent drivers who work using UBER technology in France.

UK: AVIVA announces a ten-year general insurance distribution agreement with HSBC
by Vlad BOLDIJAR, 2017-08-08
AVIVA has signed a ten-year distribution deal in the UK with HSBC, to provide a broad range of general insurance products in the British market.

GENERALI sales its Panama business to ASSA Compania de Seguros
by Vlad BOLDIJAR, 2017-08-10
The GENERALI Group has entered into an agreement to sell its business in Panama. The transaction is part of its strategy to optimize its geographical presence, increase operational efficiency and improve capital allocation.

The ALLIANZ and LV= joint venture will create third largest personal insurer in the UK market
by Vlad BOLDIJAR, 2017-08-08
ALLIANZ Group and LIVERPOOL Victoria Friendly Society (LV=) have agreed to launch a joint venture and a longer-term strategic partnership in the UK, thus creating the third largest personal insurance company in the market.

HANNOVER Re completes acquisition of Lloyd's syndicate
by Daniela GHETU, 2017-07-21
The acquisition of the UK holding company ARGENTA Holdings Limited, first announced by HANNOVER Re back in March, was successfully completed and became effective on 20 July.

Insurance in the DIGITAL World: get ready for the future!

by Daniela GHETU, 2017-08-10
Smart phones have changed our use of time, money and leisure. Meanwhile, the IoT technologies have gone way beyond the "intelligent, connected fridge" that they were initially announcing. Connectivity has changed relationships globally, changing the way we work and potentially leading to a completely change in paradigm, both in the business and personal worlds.


Albania 1H2017
Kosovo 1H2017


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


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

remi_vrignaud5Remi VRIGNAUD, head of Oliver BATE's chancellery, appointed as CEO of ALLIANZ Austria
by Vlad BOLDIJAR, 2017-08-10
Global insurer ALLIANZ announced it named Remi VRIGNAUD (currently head of ALLIANZ SE CEO's chancellery) as CEO of its Austrian subsidiary, Allianz Versicherung


KAZAKHSTAN FY2015 & 1H2016
TURKEY FY2015 & 1H2016
Ins. Report CEE, SEE & CIS – 1H2016
Motor Ins. Report FY2015 & 1H2016
Property Ins. Report FY2016

Aegon strengthens Dutch capital position and reports strong 2Q 2017 results

AIG Reports Second Quarter 2017 Results

ARMENIAN insurance sector increases tax payments by 36.4% per annum in the first half-year

Aviva plc 2017 Interim Results Announcement

AZERBAIJAN sees 29% rise in compulsory insurance of automobiles

BOSNIA's Sarajevo Osiguranje increases H1 net profit

BULGARIA: TBI gets nod to publish sweetened buyout bid for Bulstrad VIG

BULGARIA: UK-headquartered Bulgaria-operating Fadata acquires German-based Impeo

BULGARIAN insurer Bulstrad's H1 non-cons net profit falls

Chubb Reports Second Quarter Net Income of USD 1,305 million

CYPRUS: Insurance company refuses to help car knocked down by car in Cyprus

CZECH REPUBLIC: Uniqa succeeded in tender of one leasing company

KBC Group: exceptionally strong result of 855 million euros in the second quarter

LATVIA: Tineo files a claim with the court as ERGO refuses to pay insurance indemnity in Latvia

MetLife Announces Second Quarter 2017 Results

POLAND: Orange raises price, cover of phone insurance

RUSSIA: "Rosgosstrakh-Medicine" refused to license on voluntary personal insurance

RUSSIA: A.M. Best Assigns Credit Ratings to Ingosstrakh Insurance Company SPAO

Sava Re: Rating agency Standard &Poor's revises the medium-term outlook to positive from stable

SERBIA: AXA companies officially absorbed within Wiener Stadtische Insurance

TURKEY Insurance Companies Plunge on Second Freak July Storm

TURKEY: 150,000 cars awaiting insurance money after heavy Istanbul hailstorm

UKRAINE: Financial service markets regulator decides to annul licenses of Financial Expert insurer

UKRAINE: Free Life and Kniazha Life VIG insurer sign agreement on cooperation

UKRAINE: LIOU: Nearly 30% of insurance market hit by cyber attack