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XPRIMM News No. 376, 19 October, 2017

Insurance Newsletter, No. 376, 19 October, 2017

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Swiss Re

TOP EVENT: ICAR The International Catastrophic Risks Forum
Main conclusions: The International Catastrophic Risks Forum - ICAR 2017
by Adina TUDOR, Andreea RADU, 2017-10-18
Re/insurance specialists from the European region gathered, on 18 October, at the 14th edition of the International Catastrophic Risks Forum - ICAR 2017, to analyze the broad theme of climate change and catastrophic risks management. More

STATISTICS: BULGARIA, 1H2017: Positive trend, both in underwriting and financial result
by Daniela GHETU, 2017-10-19
Bulgarian insurers managed to achieve a 10.14% increase in GWP in the first half of 2017, to EUR 581.6 million. The market growth was almost entirely provided by the non-life segment, especially the motor insurance lines. More

STATISTICS: MONTENEGRO 1H2017: GWP of EUR 40 million for the smallest CEE market
by Vlad BOLDIJAR, 2017-10-19
According to the centralized CEE figures, in terms of gross written premiums, at the end of June 2017, the insurance market of Montenegro was the smallest among all 17 CEE countries: GWP of EUR 40 million, up by 3.5% y-o-y. More

STATISTICS: SERBIA, 1H2017: Positive trend and a stable porfolio structure
by Daniela GHETU, 2017-10-19
Serbian insurers ended 1H2017 with GWP up by 10.3% y-o-y, to EUR 404.2 million, a growth rate slightly helped by the local currency's appreciation. Denominated in Serbian Dinars, the market results show an 8.12% increase in premiums. More

STATISTICS: POLAND, 1H2017: Recovery trend confirmed thanks to the MTPL line increasing premiums volume
by Daniela GHETU, 2017-10-19
The Polish insurance market's recovery announced by the Q1 results, after four years of decline, seems to become confirmed reality, judging by the 1H results: the market ended the first half of 2017 with GWP of EUR 7.4 billion, 21% up y-o-y. More

STATISTICS: SLOVENIA, 1H2017: Severe weather events have pushed property claims already double digit up
by Daniela GHETU, 2017-10-19
Slovenian insurers half year results show a 6.8% increase in GWP, to EUR 1.16 billion, fueled by the life and non-life insurance segments. More

The mechanism of financial rehabilitation for insurers is in work out; how to avoid the "new" ROSGOSSTRAKH case
by Olesea ADONEV, 2017-10-19
The Central Bank of Russia worked out the mechanism of financial rehabilitation for insurance companies, which potentially could be similar to the one introduced in the banking sector. More

34th AIAG Congress - the meeting of agricultural insurers took place in Warsaw at the beginning of October
by Adina TUDOR, 2017-10-16
380 participants representing 40 countries from all over the world attended the 34th Congress organized by AIAG - The International Association of Agricultural Production Insurers, a premiere in the 66-years old history of AIAG Congresses. More

The dates of the XVI-th edition of the November Business Meetings of Reinsurers have been announced
by Olesea ADONEV, 2017-10-19
Between the 21 - 22 November 2017, the XVI-th November Business Meetings of Reinsurers will take place in Moscow, "Novaya Ploschad" Business Center, Russia. XPRIMM Publications supports the event as Media Partner. More

ZURICH expects USD 700 million in Q3 hurricane claims
by Vlad BOLDIJAR, 2017-10-19
ZURICH Insurance Group said that it expects to pay out aggregate Q3 claims related to the three major hurricanes impact - Harvey, Irma and Maria, worth of USD 700 million (net of reinsurance and before tax). After tax, the losses are expected to be around USD 620 million. More

Armenia is planning a mandatory agricultural insurance scheme
by Daniela GHETU, 2017-10-19
Armenia might have a mandatory agricultural insurance system in place, in about 3 to 5 years, an official of the specialized minister stated to the press, reports Arka News Agency. More

BELARUS Re's rating by Fitch affirmed at B-
by Daniela GHETU, 2017-10-19
Fitch Ratings has affirmed Belarusian National Reinsurance Organisation's (BELARUS Re) Insurer Financial Strength (IFS) Rating at 'B-'. The Outlook is Positive. More

Reinsurer VIG Re hires Patrick CHEVREL of PARTNER Re to lead its Western Europe business unit
by Vlad BOLDIJAR, 2017-10-19
Reinsurer VIG Re announced Patrick CHEVREL joined the company on 16 October 2017 to head the new established underwriting team Western Europe to develop VIG Re's business with clients domiciled in France, Belgium and Luxembourg. More

Marsh appoints Siegmund FAHRIG CEO of Continental Europe region
by Daniela GHETU, 2017-10-19
Marsh, the global leader broking services and innovative risk management solutions provider, today announced the appointment of Siegmund FAHRIG as CEO of its Continental Europe region, effective immediately. More

WTW appoints Neil IRWIN to lead CEEMEA Region
by Vlad BOLDIJAR, 2017-10-19
WILLIS TOWERS WATSON (WTW) has appointed Neil IRWIN as the new leader of the Central and Eastern Europe, Middle East, and Africa (CEEMEA) region. He takes up his new position with immediate effect, and will be based in Dubai. More

WILLIS TOWERS WATSON appoints Gianmarco TOSTI as Head of Italy
by Vlad BOLDIJAR, 2017-10-19
WILLIS TOWERS WATSON (WTW) announced it named Gianmarco TOSTI as the company's new country head of Italy, effective January 1st, 2018. More

TRIGLAV: Barbara SMOLNIKAR started to serve on the Management Board
by Vlad BOLDIJAR, 2017-10-19
Slovenian TRIGLAV Group announced that Barbara SMOLNIKAR started to serve as a new Management Board Member, based on the Supervisory Board's resolution adopted in August. More

MMA CEO David ESLICK named Chairman of The Council of Insurance Agents & Brokers
by Vlad BOLDIJAR, 2017-10-19
The global insurance broker MARSH announced that David ESLICK, Chairman and CEO of its subsidiary Marsh & McLennan Agency (MMA), was elected as the 2018 Chairman of The Council of Insurance Agents & Brokers (The Council). More

AON names Andy WEITZ Chief Marketing Officer
by Vlad BOLDIJAR, 2017-10-19
The risk and insurance brokerage services provider AON announced the appointment of Andy WEITZ as Chief Marketing Officer, effective immediately. More

AZERBAIJAN's PASHA Bank talks expansion plans

BULGARIAN regulator asks Euroins to correct delisting request

Euroins Romania cuts stake in Bulgaria's Synthetica
Five new XPRIMM Publications will be available in Baden Baden
by Mihaela CIRCU, 2017-10-19
Five new titles will be available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets. More

Catherine HOCK
International Relations
ICMIF-International Cooperative and Mutual Insurance Federation

More than 900 million people worldwide are protected by mutual or cooperative insurers and when you also add on the millions of individuals in emerging countries who rely on informal, community-run insurance schemes, the true impact of these values-based insurers becomes apparent. In fact, our latest figures show the mutual insurance sector is the fastest-growing part of the global insurance industry since the onset of the global financial crisis and has almost 30% of the market. More

Distinguish Panel of Speakers for IIF 2017 - Insurance in a Digital World
by Mihaela CIRCU, 2017-10-19
IIF 2017 - "Insurance in a Digital World", taking place in Vienna, on 14 November an exquisite panel of speakers, that will present, among others, upon digitalization and its impact on sales, underwriting, and claims management. More


Bulgaria 1H2017
Montenegro 1H2017
Serbia 1H2017
Poland 1H2017
Slovenia 1H2017


Baden-Baden XPRIMM Reception
22 October 2017, Baden Baden, Germany
AzRe Evening. 10 years of confidence
22 October 2017, Baden Baden, Germany
IIF 2017 - Insurance in the Digital World
14 November 2017, Vienna, Austria


Baden Baden Meetings 2017
22-26 October 2017, Baden Baden, Germany
2nd Annual Connected Claims Europe Summit
24-25 October, 2017, London, United Kingdom
25-26 October 2017, Louwman Museum, The Hague, Netherlands
Croatian Insurance Days 2017
8-10 November 2017, Opatija, Croatia
November Business Meetings of Reinsurers
21-22 November 2017, Moscow, Russia


KAZAKHSTAN FY2016 & 1H2017
TURKEY FY2016 & 1H2017
Ins. Report CEE, SEE & CIS – 1H2017
Motor Ins. Report FY2016
Property Ins. Report FY2016