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XPRIMM News No. 382, 7 December, 2017

Insurance Newsletter, No. 382, 7 December, 2017

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VIG: 2017's 3rd quarter confirms the group's positive evolution since 2016
by Daniela GHETU, 2017-12-05
With aggregated GWP rising by around 3% to EUR 7,153 million and a 10% increase in the profit before taxes, Vienna Insurance Group (VIG) saw an upward trend in 3Q 2017 which confirms the positive evolution recorded since the beginning of 2016. More

FITCH rates EUROHOLD Bulgaria's EUR 70 million Senior Notes 'B'/'RR4'
FITCH Ratings has assigned EUROHOLD Bulgaria AD's (EUROHOLD) EUR 70 million senior unsecured notes a 'B'/'RR4' rating. The notes are rated in line with EUROHOLD's Issuer Default Rating (IDR). More

Hungary: only 1,8% of the registered vehicles have no MTPL insurance policy
by Daniela GHETU, 2017-12-07
The number of cars not covered by MTPL insurance in Hungary has decreased substantially during the last five years, from 5.8% to 1.8%, as in September 2017, MABISZ - the Hungarian insurers' association said. More

ERGO in the Baltic States: significant growth in GWP, profit and market share
by Daniela GHETU, 2017-12-07
ERGO in the Baltic States recorded a positive bottom line result of EUR 6,8 million, almost double y-o-y, while GWP have increased by about 19%, to EUR 177 million in 3Q2017, outperforming the overall Baltic insurance market's performance (14.5% growth in GWP). More

Romania, a key-market for VIG
by Adina TUDOR, 2017-12-05
Romania is a key-market for VIG, the Austrian group taking the commitment to be a long-term investor on the local insurance market, the VIENNA Insurance Group representatives stated on Monday, December 4th, during a press conference. More

Albania takes steps to improve households' and businesses' insurance coverage against floods
by Daniela GHETU, 2017-12-07
Albania will undertake a legal initiative to insure households and businesses from floods, the country's Prime Minister Edi Rama announced on Manday, reads More

Turkey to establish a nuclear insurance pool, under TCIP's management
by Daniela GHETU, 2017-12-07
TCIP - the Turkish Natural Catastrophe Insurance Pool will set up a nuclear insurance pool to offer EUR 700 million of protection for each of the country's first nuclear power plants, soon to be built in Akkuyu and Sinop, according to Berat ALBAYRAK, minister of Energy and Natural Resources, reports Hurriyet. More

STATISTICS: BiH, 3Q2017: Three insurers with close results. Who will be the market leader at the end of 2017?
by Vlad BOLDIJAR, 2017-12-07
The 27 Bosnian insurers reported aggregate 3Q2017 GWP of BAM 518.2 million (~EUR 265 million), up by 8.1% y-o-y, according to the most recent market figures published by AZOBiH - Insurance Agency of Bosnia and Herzegovina. More

STATISTICS: Macedonia, 3Q2017: The share of motor classes increased to 54% of total market
by Vlad BOLDIJAR, 2017-12-07
Macedonian insurers reported 3Q2017 aggregate GWP of MKD 6.8 billion (EUR 110.6 million), 2.7% more y-o-y, according to the market figures provided by the Insurance Supervision Agency of Macedonia. More

STATISTICS: Slovenia: TRIGLAV and SAVA accounted for the largest share on the two main market segments
by Vlad BOLDIJAR, 2017-12-07
The Slovenian insurance market reported a 6.6% y-o-y nine months growth rate to about EUR 1.67 billion, statistics of the country's Insurance Association indicated. More

STATISTICS: Greece, 3Q2017: The insurance industry remained at the 2016 level
by Vlad BOLDIJAR, 2017-12-07
The Greek insurers reported gross written premiums of EUR 2.80 billion at the end of September 2017, up by 0.26% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC). More

STATISTICS: Armenia, 3Q2017: GWP up by 3.78%; two Russian units account for about half of the insurance market
by Olesea ADONEV, 2017-12-07
In 3Q 2017, gros premiums written by the local insurers have grown slightly, by 3.78%, to AMD 24,562.59 million (EUR 43.5 million), according to ArmInfo Agency data. More

STATISTICS: Moldova, 3Q2017: GWP up by 5.2%, while claims slowly decreased by 0.84%
by Olesea ADONEV, 2017-12-07
GWP collected by Moldavian insurers totaled MDL 1,067.96 million and went up by 5.26% compared to the similar period of 2016, according to the official data published by the National Commission of the Financial Market in Moldova (NCFM). More

ALLIANZ to acquire remaining shares in EULER HERMES
by Vlad BOLDIJAR, 2017-12-07
German insurer ALLIANZ has announced plans to buy the shares in Paris-based credit insurer EULER HERMES it does not yet own by offering investors EUR 122 euros per share in cash. More

Bulgarian FSC revoked the SyVZK's license
by Vlad BOLDIJAR, 2017-12-07
The Bulgarian Financial Supervision Commission (FSC) has revoked the licence of the life insurer SyVZK (TUMICO - Trade Union Mutual Insurance Cooperative) for carrying out insurance activity for all classes, forbidding the company to conclude any new contract for six months. More

Azerbaijan: the MTPL electronic issuance system one year after debut
by Daniela GHETU, 2017-12-07
One year after the system introduction, the number of electronically issued MTPL policies in Azerbaijan has exceed 1 million, worth almost AZN 83.78 million (EUR 46.29 million) in premiums - data for January-November 2017. More

Swiss Re's ReAssure to buy 1.1 million L&G life policies for GBP 650 million
by Vlad BOLDIJAR, 2017-12-07
Global reinsurer Swiss Re announced it has agreed to buy 1.1 million life insurance policies from UK financial service provider Legal & General Group (L&G) for GBP 650 million. These policies will be managed by ReAssure - the closed life book consolidator specialist unit of Swiss Re Life Capital business. More

ERGO decided not to sell its traditional life insurance portfolios in Germany
by Vlad BOLDIJAR, 2017-12-07
ERGO announced it ends the discussions concerning the sale of its German life insurance companies with traditional life insurance portfolios. More

AON Switzerland acquires insurance broker UNIDELTA AG
by Vlad BOLDIJAR, 2017-12-07
AON Switzerland, a division of global insurance and reinsurance broker AON, has acquired 100% interest in UNIDELTA AG, an insurance broker based in Rapperswil, St. Gallen, Switzerland. More

MAPFRE: Third quarter's nat cat events' impact on the group's income: EUR 176 million
by Daniela GHETU, 2017-12-07
MAPFRE will disburse more than EUR 1.1 billion in compensation for the events that occurred in the third quarter of this year (hurricanes in the Caribbean and the USA, and earthquakes in Mexico). The estimated net impact on its income statement will be of EUR 176 million. More

WATFORD Insurance has announced its intention to enter the Romanian insurance market
by Daniela GHETU, 2017-12-07
WATFORD Insurance announced its intention to establish a branch to launch insurance operations in Romania, focusing mainly on the MTPL and ancillary insurance products sale, but other retail products such as residential property insurance may also be offered. More

Elisabeth STADLER
VIENNA Insurance Group

I see a clearly potential in the CEE market and also very positive statistics and positive figures for the further development in the CEE countries, so, if the economic development is positive in a country, normally you can follow that the private development is the same, that welfare is coming and, then, the need for insurance is quite bigger than before and the spendings for insurance will increase, of course. More


XL Catlin APPOINTS Yera PATEL to head its International Financial Lines claims team
by Daniela GHETU, 2017-12-07
XL Catlin announced on December 4 that it has appointed Yera PATEL to the position of Global Practice Leader for International Financial Lines Claims. More

Piotr OZAREK is the PZU's first Ombudsman
by Daniela GHETU, 2017-12-07
Piotr OZAREK was appointed to perform the newly established function within PZU, as the first client's spokesperson of the insurer. His main task will be helping in the most difficult and complicated cases in which PZU's clients are not satisfied with the solution. More

Desmond BOHAN joins JLT Re as Senior Vice President
by Vlad BOLDIJAR, 2017-12-07
JLT Re, part of the global provider of reinsurance broking and consultancy, has appointed Desmond BOHAN as Senior Vice President in Stamford, Connecticut. He will focus on the continued expansion and development of JLT Re's Program practice in North America. More

AIG names Tom BOLD as Chief Underwriting Officer, General Insurance
by Daniela GHETU, 2017-12-07
American International Group, Inc. announced that Tom BOLT, ex Berkshire Hathaway Specialty Insurance's President and CEO of the U.K. and Southern Europe, will join the company as Chief Underwriting Officer, General Insurance, starting January 2018. More

MAPFRE reorganizes its territorial structure; Nikos ANTIMISSARIS will head the new EURASIA Regional Area's operations
by Daniela GHETU, 2017-12-07
MAPFRE Group will reunite its Europe (except IBERIA), Middle East and Africa operations with its Asia-Pacific starting January 2018 under a new unit called EURASIA Regional Area, the Group has announced on the occasion of its 3Q results presentation. More

Bosnia 3Q2017
Macedonia 3Q2017
Slovenia 3Q2017
Grecia 3Q2017
Armenia 3Q2017
Moldova 3Q2017


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


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

AZERBAIJANI insurance firm's license suspended

BOSNIAN insurer ASA Osiguranje's 9-mo net profit rises

BULGARIA's Bulstrad VIG plans to delist from Sofia bourse

HUNGARY: CIG Pannonia premium revenues, profits up

KAZAKHSTAN: Fitch affirms Kazakh insurance company's rating

LITHUANIA: Ergo pays 2.4 million euros for damages caused by swine fever

SERBIA: Dunav Osiguranje's share of Serbian insurers' premium income rises

SLOVENIA: Sava Re celebrates its 40th anniversary

UKRAINE: INGO Ukraine has launched spectrapulse for treatment abroad


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