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XPRIMM News No. 377, 26 October, 2017

Insurance Newsletter, No. 377, 26 October, 2017

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Swiss Re

TOP EVENT: Baden Baden Meeting 2017
The 2017 Baden Baden Meeting: Short recap
by XPRIMM, 2017-10-26
The Baden-Baden meeting, one of the key events in the reinsurance calendar, has just set the final point of this year's edition. XPRIMM Publications have reported from the meeting's premises. Let's recap!

AzRe celebrated its 10th Anniversary in Baden-Baden
by Olesea ADONEV, 2017-10-20
The Azeri reinsurance company AzRe hosted an official reception at the Annual Baden-Baden Reinsurers Meetings dedicated to its 10th anniversary. More

Re/insurance specialists gathered this Sunday in Germany at the Baden-Baden XPRIMM Reception
by Adina TUDOR, 2017-10-20
Already on its 9th edition, the Baden - Baden XPRIMM Reception, the traditional event organized by XPRIMM during the Baden-Baden Meetings, took place on Sunday, 22 October, at Kurhaus Casino, gathering re/insurance specialists from all over the world. More

Baden-Baden XPRIMM Reception: Who were the winners of the XPRIMM Insurance Awards?
by Adina TUDOR, 2017-10-20
On Sunday, 22 October, insurers and reinsurers from all over the world met at the 9th edition of the Baden-Baden XPRIMM Reception, the traditional event organized by XPRIMM during the Baden-Baden Meetings in Germany. More

Vienna Insurance Group to merge two Slovakian Group companies
by Daniela GHETU, 2017-10-26
Vienna Insurance Group (VIG) announced that two of its Slovak units, the bancassurer Poistovna Slovenskej sporitelne (PSLSP) and Kooperativa poistovna will merge with effect from 1 April 2018, subject to approval by the local authorities. More

STATISTICS: CEE, 1H2017: The Top 5 markets - Poland, the Czech Rep, Hungary, Slovenia, Romania - account for over 78% of the regional GWP
by Daniela GHETU, 2017-10-26
Overall, the CEE insurance market saw a y-o-y GWP growth of 12.84%, to EUR 18.28 billion, capitalizing at least in part on the general economic revival seen in the region. Paid claims also increased, reaching EUR 10.64 billion, which is by 10.75% more than in 1H2016. More

CROATIA Osiguranje's nine months profit up by 17% y-o-y
by Daniela GHETU, 2017-10-26
CROATIA Osiguranje, the ADRIS Group's insurance arm, increased its net nine-month profit by 17% y-o-y, to HRK 219 million, while consolidated GWP amounted to HRK 2.5 million, 3% up. More

Hurricanes Harvey, Irma and Maria will cost MUNICH Re EUR 2.7 billion
by Daniela GHETU, 2017-10-26
MUNICH Re is expecting a third-quarter loss of EUR 1.4 billion owing to exceptional major-loss expenditure. The Group now projects a small profit for the full year 2017. More

SCOR, 3Q2017: The group's high shock-absorbing capacity demonstrated by a challenging third quarter
by Daniela GHETU, 2017-10-26
Following the exceptional series of large natural catastrophes in Q3, French reinsurer SCOR has recorded a net loss of EUR 267 million in Q3. Yet, the balance of the first nine months of 2017 remained positive (EUR 25 million). More

XL Group Ltd, 3Q results: Solid underlying performance in a catastrophe dominated quarter
by Daniela GHETU, 2017-10-25
XL Group Ltd reported its 3Q 2017 results, significantly impacted by the recent nat cat losses, the groups reporting net loss of USD 1.04 billion, compared with net income of USD 70.6 million the previous year. More

MAPFRE: Third quarter nat cat events' cost - EUR 176 million
by Daniela GHETU, 2017-10-26
MAPFRE's third quarter's accounts have been significantly affected by the three "American" hurricanes and the earthquakes that struck Mexico, the estimated impact reaching to EUR 176 million, reducing profits by 22.3%. More

QIC net profit in 3Q hit by catastrophe losses, the Ogden rate impact and the soft market conditions
by Daniela GHETU, 2017-10-24
Qatar Insurance Company (QIC) Group's net profit for 3Q 2017 plummeted to USD 84 million, from USD 195 million one year earlier, hit by catastrophe losses, the impact of the Ogden rate adjustment and the soft market conditions. More

Lloyd's revises its total net claims estimates for Harvey, Irma and Maria to USD 4.8 billion
by Daniela GHETU, 2017-10-24
Lloyd's announced revised net claims estimates for Windstorms Harvey and Irma of a combined USD 3.9 billion as well as preliminary claims estimates for Windstorm Maria of USD 0.9 billion. More

Join the 6th Edition Nordic Asset Allocation to analyse investment in alternative asset classes
by Adina TUDOR, 2017-10-24
One of the key issues sweeping life insurance and pension funds is the low rate environment as it continues to make it difficult for firms to meet their yield target. In the search for yield a new trend has risen, involving investment in alternative assets. Alternative have become increasingly desirable with their ability to give higher returns, but of course this comes at the price of higher risk. More

MUNICH Re: to improve risk management, a holistic view of risk and comprehensive solutions are needed
by Daniela GHETU, 2017-10-23
To develop comprehensive risk management solutions to deal with the increasingly complex risks, a holistic view of the risk landscape and the use of the very latest technologies are needed, is MUNICH Re's view. More

FRISS won this years' VentureClash competition
by Daniela GHETU, 2017-10-26
FRISS, the global provider for fraud, risk and compliance software to non-life insurers, won the top prize of USD 1.5 million dollar in the final round of this years' VentureClash competition. More

Head of Rating & Marketing
Information Agency ArmInfo

Discipline throughout the entire MTPL compensation process has improved following the implementation of the direct compensation system. In fact, payments of the insurance indemnities to claimants are made 2-3 times faster. More

Two weeks to the Croatian Insurance Days Conference: see the event's program
by Daniela GHETU, 2017-10-26
Between 8 - 10 November will take place in Opatija, Croatia, the 2017 edition of the Croatian Insurance Days Conference, the traditional meeting of the Croatian insurance top professionals with their European peers. XPRIMM Publications are supporting the event as Media Partners. More

Global developments: Europe to second Asia in the fight for World insurance supremacy

For the first time in recent history, Asia has surpassed Europe in terms of Gross Written Premiums, according to SWISS Re. Could this be the beginning of a new era or just a glitch? More


CEE 1H2017


IIF 2017 - Insurance in the DIGITAL World
14 November 2017, Vienna, Austria


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