Back to

XPRIMM News No. 380, 16 November, 2017

Insurance Newsletter, No. 380, 16 November, 2017

Click here to subscribe!
Click here to unsubscribe!

PZU, 3Q2017: Improved profitability despite the financial cost of the nat cat events of the summer
by Daniela GHETU, 2017-11-16
CEE's biggest insurer, the Polish PZU SA announced a net profit increase of 8% y-o-y in the third quarter as the consolidation of recently-bought Pekao SA offset the financial cost of violent storms that hit Poland last summer. More

STATISTICS: LITHUANIA, 3Q: Life and motor insurance fueled the largest share of the market growth
by Vlad BOLDIJAR, 2017-11-15
Lithuania's insurance market increased in absolute value by EUR 82 million totalling EUR 580 million at the end of September 2017, according to the Lietuvos bankas's 3Q figures. More

STATISTICS: ESTONIA, 3Q: The two motor segments generate about half of the insurance market
by Vlad BOLDIJAR, 2017-11-15
Estonian insurance market totaled EUR 315 million at the end of September 2017, up by 10.6% y-o-y, according to quarterly market figures published by the Estonian National Statistics Board. More

VIG to merge Wiener Staedtische and s Versicherung in Austria
by Vlad BOLDIJAR, 2017-11-14
Vienna Insurance Group announced it will merge its two Austrian subsidiaries Wiener Staedtische and Sparkassen Versicherung (s Versicherung)‍​. The merger is expected to become effective in 2018‍​ and it is subject to approval by the boards of the Group companies and the authorities. More

The third largest Slovenian insurer is for sale
by Vlad BOLDIJAR, 2017-11-14
Slovenian financial holding KD Group announced, in a statement posted on Ljubljana Stock Exchange's website, that its management board reviewed the group's strategic guidelines, choosing LAZARD as a financial consultant to find a strategic investor for a majority stake in its fully owned insurer ADRIATIC SLOVENICA. More

ATRADIUS enters Romanian and Bulgarian markets
by Vlad BOLDIJAR, 2017-11-15
ATRADIUS - the second largest provider of credit insurance in the world, announced it expanded its international presence with two new locations in Bulgaria and Romania, as a part of the company's global expansion strategy. More

S&P's rates Zavarovalnica SAVA 'A-' with a Positive Outlook
by Vlad BOLDIJAR, 2017-11-14
Standard & Poor's rated Zavarovalnica SAVA 'A-' with a Positive Outlook, the Slovenian re/insurance group SAVA Re announced in a press release posted on Ljubljana Stock Exchange's website. More

UNIQA: Impressive growth of the international business while the Austrian portfolio moved up only slightly
by Vlad BOLDIJAR, 2017-11-16
Austrian UNIQA reported a 6.1% increase in its 3Q2017 business, to EUR 4.04 billion "due to solid growth in all segments". GWP outside the home country went up by 19.7% to EUR 1.21 billion, while the Austrian portfolio only moved up slightly to EUR 2.73 billion. More

RNRC: GWP increase of 27% in Q3 as compared with Q2/2017
by Olesea ADONEV, 2017-11-16
The GWP by the Russian National Reinsurance Company (RNRC) increased to RUB 5.3 billion in the first nine months of 2017. In Q3/2017 written premiums increased by 27% to RUB 2.2 billion, compared to Q2/2017, the company's report reads. More

Russia: INGOSSTRAKH intends to reduce its MTPL market share
by Olesea ADONEV, 2017-11-16
Recently Mikhail VOLKOV, CEO, INGOSSTRAKH has confirmed the company's intention of reducing its market share on the MTPL segment, wrote More

Ukraine: GWP on MTPL insurance up by 7.6%, while reported claims grew by 26.8%
by Olesea ADONEV, 2017-11-16
In 3Q 2017, the GWP on MTPL insurance in Ukraine increased by 7.6%, to UAH 2.8 billion compared to the 3Q2016. According to the local Motor Insurance Bureau, 55 insurers were providing MTPL insurance in Ukraine, Forinsurer said. More

Moldova: MTPL tariffs could be liberalized gradually while insurers' capital could reach MDL 1.8 billion according to NCFM strategy
by Olesea ADONEV, 2017-11-16
Until 2022, the volume of insurance reserves and the insurers' capital must reach the level of MDL 1.8 billion each, the development strategy developed for the following five years by the National Commission of the Financial Market in Moldova (NCFM) for the non-banking financial market envisions. More

ALLIANZ reports 2.5 billion euros operating profit in 3Q 2017
by Adina TUDOR, 2017-11-10
ALLIANZ Group reported good results for the third quarter of 2017 after a series of hurricanes, storms and other natural catastrophes drove claims higher. More

Romania should stay the course - funded private pensions the key to sustainable future, PensionsEurope warns
by Adina TUDOR, 2017-11-15
After the Romanian government has decided to cut the contributions to pillar II to 3.75% (instead of raising to 6% from the actual 5.1% as mentioned in the initial draft bill), people in Romania are now facing a significant risk of suffering a decrease in their future retirement income, PensionsEurope warns. More

Romania: Reducing the contribution for second pension pillar will lead to a significant decrease of the pension's value for a high number of participants - AURSF
by Andreea RADU, 2017-11-10
AURSF - The Association of Romanian Financial Services Users warns about the consequences of reducing the contributions for the second pension pillar, the action leading to a significant decrease of the pension's value for an extremely high number of participants. More

Net income of EUR 444 million for TALANX in the first 9 months, despite severe impact of natural catastrophes
by Adina TUDOR, 2017-11-13
TALANX Group achieved a nine-month net income of EUR 444 (636) million, despite the exceptionally high burden resulting from natural catastrophes, the company announced. More

Foreign parties to be allowed to 100% own Chinese insurers
by Adina TUDOR, 2017-11-13
The Chinese Government announced that it will raise foreign ownership limits in insurance companies to 51% in three years' time. Full foreign ownership of insurers in China will be allowed after five years, the Government's official announced. More

AON Benfield: This autumn's California wildfires could become the costliest insured wildfire in history
by Adina TUDOR, 2017-11-13
Historic wildfires left record bill for insurers in the United States and Portugal, three strong windstorms strongly impacted Europe, and continuous rainfall and typhoons caused extensive flooding in Asia-Pacific region, shows Aon Benfield's Global Catastrophe Recap report for October. More

GFIA provides comments to IAIS on its extended field testing of the ICS version 1.0
by Adina TUDOR, 2017-11-14
The Global Federation of Insurance Associations - GFIA has provided comments to the International Association of Insurance Supervisors - IAIS on its extended field testing of the Insurance Capital Standard (ICS) version 1.0. More

FRISS launched an e-book on insurance fraud. Download it now!
by Adina TUDOR, 2017-11-15
FRISS, the global provider for fraud, risk and compliance software to non-life insurers, launched a new e-book focusing on insurance fraud. More

Register now at the 5th Insurance Claims & Underwriting Management Summit 2018!
by Adina TUDOR, 2017-11-13
Technology, improved claims and underwriting processes customer service, as well as fraud and litigation in the insurance industry are just a few of the topics analyzed during Asia's leading 5th Insurance Claims & Underwriting Management Summit. More

Reputation of travel insurers affected by flight operators
by Vlad BOLDIJAR, 2017-11-15
The travel insurance industry has perennially suffered from a lack of customer awareness around policy terms, and is currently facing issues surrounding customer satisfaction, according to the research and consulting firm GlobalData. More

ACHMEA to sell its Irish life insurer to AVIVA
by Vlad BOLDIJAR, 2017-11-15
The Dutch financial group ACHMEA announced it has agreed to the sale of its Irish life assurance company, FRIENDS FIRST to AVIVA Group for a cash consideration of EUR 130 million. More

AON completes sale of businesses in six sub-Saharan African countries
by Vlad BOLDIJAR, 2017-11-15
Insurance brokerage company AON has sold its entire share of its employee benefit, insurance and reinsurance brokerage operations in Kenya, Lesotho, Malawi, Namibia, Uganda and Zambia to alternative asset manager CAPITALWORKS. More

"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna
"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players. More


Online insurance in Europe reached more than 100 billion EUR in 2016

Online and direct channels are the fastest growing business models in both life and non-life insurance industry in Europe. The market share of the online/direct channel business was, in 2015, 8.2% of the total business, while the total gross written premiums of this channel throughout all Europe reached 99.3 billion EUR. More

Lithuania 3Q2017
Estonia 3Q2017

AXA simplified its structure to 5 geographies and formed a new Management Committee
by Vlad BOLDIJAR, 2017-11-16
French insurer AXA said it simplifies its operating model to 5 key geographies and a refocused Corporate Center. At the same time, AXA announced its new Management Committee as of December 1st, 2017 and made two new senior appointments. More

UNIQA Austria and UNIQA International expand Management Board
by Vlad BOLDIJAR, 2017-11-16
UNIQA Group Austria announced two new appointments for the new created "digitisation" and "customers and markets" management portfolios within UNIQA Austria and UNIQA International. More

MAI CEE names Ewelina JAWORSKA as group employee benefits leader
by Vlad BOLDIJAR, 2017-11-14
Central and Eastern European insurance broker MAI CEE annonced the appointment of Ewelina JAWORSKA as group employee benefits leader, effective immediately. More

PartnerRe appoints Turab HUSSAIN as Chief Risk Executive
by Adina TUDOR, 2017-11-13
Turab HUSSAIN has been appointed to the position of Chief Risk and Actuarial Officer at PartnerRe, starting from December 4, 2017. He succeeds Marvin PESTCOE, who will retire in 2018 after working to ensure a smooth transition. More

TALANX approves change of leadership
by Adina TUDOR, 2017-11-10
At the meeting taking place on 10 November, the Supervisory Board of TALANX AG approved a change of leadership at the top of the company. More


FIAR 2018 - The International Insurance-Reinsurance Forum
14-16 May 2018, Bucharest, Romania


November Business Meetings of Reinsurers
21-22 November 2017, Moscow, Russia
7th EIOPA Annual Conference
22 November 2017, Frankfurt am Main, Germany
IFRS 9 Implementation and Stress Testing MasterClass
27-28 November 2017, Vienna, Austria
Managing Insurance Contracts under IFRS 17
4-5 December 2017, London, United Kingdom
FinTech Connect Live 2017
6-7 December 2017, London, United Kingdom
Barrier-2017. Combating Insurance Fraud - prophylactics, protection, investigation
14 December 2017, Corinthia Hotel, St. Petersburg, Russia
5th Insurance Claims & Underwriting Management Asia Summit 2018
6-9 February 2018, Singapore
6th Edition Nordic Asset Allocation: Investing in Alternative Asset Classes
7-9 March 2018, Stockholm, Sweden


Aegon reports strong increase in earnings and capital ratio in 3Q 2017

AZERBAIJANI insurance company expects growth in voluntary type premiums

BULGARIA's Saglasie gets regulatory nod to absorb Tokuda Health Insurance

KBC Group: strong result of 691 million euros in the third quarter

MACEDONIA: Insurer Osiguruvanje Makedonija's 9-mo after-tax profit falls

NN Group reports 3Q17 results

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