XPRIMM News No. 367, 17 August, 2017

		Insurance Newsletter, No. 367, 17 August, 2017 Click here to subscribe! Click here to unsubscribe!

TOP NEWS Global total economic losses of USD 44 billion from Cat risks in 1H2017, the preliminary sigma estimates show by Daniela GHETU, 2017-08-17 According to preliminary Swiss Re's sigma estimates, total economic losses from disasters were USD 44 billion in 1H2017, significantly down from USD 117 billion in 1H2016, as a result of fewer and less intense events. More PCS: Insured cat losses in the US reached the highest peak in 1H2017 since 2011 by Daniela GHETU, 2017-08-17 1H2017 US insured catastrophe losses have reached the highest value since 2011, slightly exceeding USD 15 billion, says the recently released PCS H1 H1 2017 Catastrophe Review. More STATISTICS: ROMANIA: GWP of EUR 567 million and a new market leader by Vlad BOLDIJAR, 2017-08-17 Romanian insurance market totaled RON 2.56 billion (EUR 567 million) at the end of March 2017, up by 8.2% y-o-y, according to the quarterly market data published by the ASF. More STATISTICS: SLOVAK Rep, 1Q2017: GWP went up by 4.6% y-o-y while paid claims increased by 6.7% by Vlad BOLDIJAR, 2017-08-17 In 1Q2017 the Slovak insurance market totaled EUR 569.5 million, 4.6% up y-o-y, the statistics published by the National Bank of Slovakia (NBS) indicated. More PZU adopts emergency measures to support customers affected by the last week's extreme windstorms by Daniela GHETU, 2017-08-17 Following the extreme stormwind that hit Poland on the night of 11 August the country's largest insurer, PZU, has already received more than 16,000 property damage and agricultural claims and over 6,000 motor insurance claims. More Azerbaijan: Premiums written for real estate and motor insurance compulsory policies amounted to EUR 36 million in Jan-July 2017 by Daniela GHETU, 2017-08-17 In the first seven months of 2017, Azeri insurers members of the Compulsory Insurance Bureau have concluded 49,151 compulsory real property insurance agreements, 695,557 MTPL policies and 17,231 Green Card policies. More HANNOVER Re: Positive 1H results support the group's expectation for a yearly net income exceeding EUR 1 billion by Daniela GHETU, 2017-08-17 With GWP increasing by 8.6% and a 7% y-o-y higher operating profit in 1H2017, HANNOVER Re expects to achieve a net income for the full year exceeding EUR 1 billion. More SAMPO, 1H2017: The Baltic P&C insurance business provided about 8% of the group's profit before taxes by Daniela GHETU, 2017-08-17 Sampo Group's profit before taxes for 1H2017 amounted to EUR 865 million, aprox. 3% less y-o-y. Sampo is the parent group of If P&C Insurance, one of the major players in the Baltic insurance market. More ZURICH Group, 1H2017: 14% increase on the operating profit, excluding the Ogden impact by Daniela GHETU, 2017-08-17 ZURICH Group's business operating profit for 1H2017 rose 14%, excluding the impact of Ogden. The Group remains on track to achieve its strategic objectives for 2017-2019, expecting a 12.5% BOPAT ROE (excluding Ogden). More Based on 1H results TALANX raises its 2017 net income outlook and anticipates a return on equity of around 9.0%. by Daniela GHETU, 2017-08-17 The TALANX Group has increased its net income for 1H2017 by 14.9% to EUR 463 million. The Retail Germany and Industrial Lines divisions had the largest contribution to the overall result. More ERGO in the Baltic States: More claims paid in accordance with the growth by Daniela GHETU, 2017-08-17 GWP concluded by ERGO in the Baltic States during 1H 2017 have totaled EUR 111 million (1H2016: EUR 96 million), while customers in region were paid EUR 69 million euros in claims (EUR 68 million euros). More M&A operations in the European insurance dropped by 28% y-o-y, mostly driven down by the Brexit uncertainty by Daniela GHETU, 2017-08-17 The volume of completed M&A worldwide in the insurance industry continued its downward trend with 170 deals in 1H2017 compared to 186 in 1H2016, according to the Clyde & Co Growth Report mid-year update. More A.M. Best affirms credit ratings of Compagnie Centrale de Reassurance by Daniela GHETU, 2017-08-17 A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Compagnie Centrale de Reassurance (CCR) (Algeria). The outlook of these Credit Ratings (ratings) is stable. More A.M. Best assigns credit ratings to Ingosstrakh Insurance Company SPAO by Daniela GHETU, 2017-08-17 A.M. Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" to Ingosstrakh Insurance Company SPAO (Ingosstrakh) (Russia). The outlook assigned to these Credit Ratings (ratings) is stable. More A.M. Best affirms credit ratings of Polish Re to A-, stable outlook by Daniela GHETU, 2017-08-17 A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland). The outlook of these Credit Ratings (rating) is stable. More Register now at the IFRS 9 Implementation and Stress Testing MasterClass! by Adina TUDOR, 2017-08-16 IFRS 9 will come into effect on 1 January 2018, which means that it is becoming crucial to get up to speed with the new regulations. More PRESS CUTTINGS Achmea's operational result increased to EUR 223 million BULGARIA's EIG increases stake in Euroins in buyout bid CROATIAN insurers' end-July gross written premiums rise 2.39% y/y NN Group reports 2Q17 results TURKEY: Insured losses from Turkish storms rise

INSURANCE & TECHNOLOGY How technology impacts the insurance sector Rather than merely adding value to the insurance sector, technology and technical innovations are now determining its very growth and evolution. More STATISTIC UPDATES Romania 1Q2017 Slovak Rep. 1Q2017 TRENDS & MARKETS Fitch: The "Big Four" European reinsurers resist pricing competition Pricing discipline by Munich Re, Swiss Re, Hannover Re and SCOR is proving an important competitive advantage in the face of declining market pricing and investment yields, Fitch Ratings says in a report published on 16 August. More 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 PARTNER EVENTS Consumer Protection in New Era - Innovation vs. Regulation 4 September, 2017, Ljubljana, Slovenia Les Rendez-vous de Septembre 2017 9-14 September, 2017, Monte Carlo, Monaco XVII International Finance Forum 13-16 September, 2017, Odessa, Ukraine 7th Annual Risk Management Forum 14-15 September, 2017, Vienna, Austria International Conference "RISKS & CLAIMS-2017" 20 September, 2017, Moscow, Russian Federation Pricing in Personal Lines Insurance 21-22 September, 2017, London, United Kingdom IFRS 9 Implementation and Stress Testing MasterClass 21-22 September, 2017, Vienna, Austria 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