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XPRIMM News No. 381, 23 November, 2017

Insurance Newsletter, No. 381, 23 November, 2017

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NBMR, Moscow: Regulatory changes have challenged the Russian insurance market in 2017
by Oleg DORONCEANU, 2017-11-21
"The Russian insurance market is ending a difficult year," Igor ALEKSEEV, Chairman of the Steering Committee of November Business Meetings of Reinsurers, Deputy Head of the Reinsurance Department, INGOSSTRAKH said today in Moscow. More

Vienna Insurance Group (VIG) - Best Recruiter in the Austrian insurance market
by Daniela GHETU, 2017-11-23
After receiving silver in the previous three years, VIG, as the leading insurance company in Austria and the CEE, reached the top of the insurance industries for the first time in this year's BEST RECRUITERS study. In the study's cross-sector rating of 412 Austrian companies, VIG received the excellent 24th place. More

Slovenia's TRIGLAV Group 3Q2017 net profit down by 2.4% y-o-y
by Vlad BOLDIJAR, 2017-11-21
The Slovenian TRIGLAV Group ended the first nine months of this year with a net profit of EUR 52.3 million, down by 2.4% compared to January-September 2016 (EUR 53.6 million), while the profit before tax totaled EUR 64.5 million (vs. EUR 67.5 million). More

SAVA Re's Strategic Plan for 2017-2019 relies on digitalization and a higher contribution of the non-Slovenian subsidiaries
by Daniela GHETU, 2017-11-23
SAVA Re is aiming at higher organic growth outside Slovenia expecting to see, by the end of 2019, its non-Slovenian business holding a significantly higher share in the premium income, foresees the group's strategic plan for the following two years. More

Slovenian SAVA Re's 3Q2017 net profit down by 7.5% y-o-y
by Vlad BOLDIJAR, 2017-11-21
Slovenian re/insurer SAVA Re said its consolidated 3Q2017 net profit decreased by 7.5% y-o-y to EUR 20.9 million euro. At the same time, the aggregate GWP was EUR 409.2 million, up by 4.8% y-o-y, while gross claims paid amounted to EUR 218.6 million, up from EUR 195.3 million a year before. More

STATISTICS: Azerbaijan, 3Q2017: The two PASHA units generate about half of the insurance market
by Olesea ADONEV, 2017-11-21
In the first nine months of 2017, GWP written by the Azeri insurance companies totaled AZN 414.35 million, increasing by 6.15% y-o-y, while the claims paid increased by 12.94% and totaled AZN 188.58 million. More

STATISTICS: Belarus, 3Q2017: Top-5 insurers generated about 75.98% of the market GWP
by Olesea ADONEV, 2017-11-21
In 3Q2017, the Belarusian insurance market recorded a GWP growth of 5.25%, to BYN 780.94 million, mostly driven by the life insurance segment. Claims paid by insurers went down by 0.19% to BYN 393.22 million. More

STATISTICS: Georgia, 3Q2017: The local market went up by 9.30%, to GEL 345.72 million
by Olesea ADONEV, 2017-11-21
In 3Q 2017, the Georgian insurance market went up by 9.30%, to GEL 345.72 million, according to data published by the Insurance Supervisory Office - ISO. Claims paid by insurers increased by 7.40% to GEL 174.09 million. More

STATISTICS: Kazakhstan, 3Q2017: Total GWP up by 4.41%. Motor Hull, CARGO and financial losses classes saw a negative evolution
by Olesea ADONEV, 2017-11-21
In 3Q 2017, the GWP of local insurance market have grown slightly by 4.41%, to KZT 289.23 billion. On the non-life insurance side, Motor Hull, CARGO and financial losses classes saw decreasing GWP volumes. More

STATISTICS: Uzbekistan, 3Q2017: The total paid claims volume doubled y-o-y; the two state-owned companies account for about 30% of the market
by Olesea ADONEV, 2017-11-21
In the first nine months of 2017, the domestic insurance market has shown a significant evolution, up by 24% to UZS 622 billion, according to data published by the Ministry of Finance of Uzbekistan. More

Russia: SOGAZ looks to acquire VTB Insurance
by Olesea ADONEV, 2017-11-21
SOGAZ Insurance Group is considering the possibility of further increasing its market share by acquiring VTB Insurance, said quoting its own sources on the insurance market. More

EIG to buy 49% stake in Russian insurer RSO EUROINS
by Vlad BOLDIJAR, 2017-11-21
The Bulgarian financial holding EUROHOLD announced its insurance arm - EUROINS Insurance Group (EIG) will acquire a 49% stake in Russian non-life insurer RSO EUROINS. "The deal has been signed on November 16, 2017 and is expected to be finalised after obtaining regulatory approvals". More

Ukraine: Winners of prestigious insurance awards 2017 were named
by Olesea ADONEV, 2017-11-23
The champions of the Ukrainian insurance market were awarded at the XIth Edition of All-Ukrainian Competition "Insurance Company of 2017 year", organized by the Club Banker in partnership with the League of Insurance Organizations of Ukraine (LIOU) on 14 November 2017 in Kiev. More


ins_and_techInsurance digitalization: how to avoid disapointment?

Price pressure is the biggest barrier to revenue growth, said almost half of the 46 global insurers interviewed by Simon-Kucher & Partners for the 2017 Global Pricing and Sales Study. A third of them also stated that most planned price increases are slashed or not implemented at all. More

ARMENIA: Compensation for OSAGO shows an impressive annual increase

BULGARIA's Eurohold invites holders of 47 mln euro note issue to tender for cash

TURKEY: Farm insurance pool's coverage stands at 20% today

TURKEY: Motor accidents kill 21,000 in last 4 years

UKRAINE: TAS insurer raises insurance premiums by 34.9% in ten months

"Insurance and Pensions reloaded" - the 7th EIOPA Annual Conference
The 7th EIOPA Annual Conference takes place today in Frankfurt am Main, Germany. A review of the current supervisory covergence issues and of the prospects of the Pan European Personal Pension Product are on the event's agenda, together with analyzing the ways in which regulation may enable innovation. More


Azerbaijan 3Q2017
Belarus 3Q2017
Georgia 3Q2017
Kazakhstan 3Q2017
Uzbekistan 3Q2017

Kurt KARL to retire; Jerome Jean HAEGELI will be the new Swiss Re's Group Chief Economist
by Daniela GHETU, 2017-11-23
As of 01 January 2018, Jerome Jean HAEGELI will become Swiss Re's Group Chief Economist at the Swiss Re Institute. Current Group Chief Economist Kurt KARL will retire at the end of December 2017 after six years in the role and 17 years with Swiss Re. More

SCOR Global Life establishes a new Executive Leadership Team
by Vlad BOLDIJAR, 2017-11-23
SCOR Global Life announces the creation of a new Executive Leadership Team. Continuing the implementation of the "Vision in Action" strategic plan, this new organization reinforces SCOR Global Life's customer-centric and value creation focus. More


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


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


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