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XPRIMM News No. 384, 21 December, 2017

Insurance Newsletter, No. 384, 21 December, 2017

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IDD: The European Commission proposes to put back application date by seven months
by Daniela GHETU, 2017-12-20
The European Commission has today proposed, exceptionally, to push back the application date of the Insurance Distribution Directive (IDD) by seven months to 1 October 2018. The European Parliament and 16 Member States have requested such a postponement. More

Preliminary sigma estimates for 2017: global insured losses of USD 136 billion are third highest on sigma records
by Daniela GHETU, 2017-12-20
Total economic losses from natural and man-made disasters in 2017 are estimated to be USD 306 billion, up from USD 188 billion in 2016 and well-above the annual average of the previous 10 years, a Swiss Re press release has announced today. More

PZU Group enters the Lloyd's market by becoming an Argenta shareholder
by Daniela GHETU, 2017-12-20
The PZU Group became a shareholder of Argenta Syndicate Management Limited, one of Lloyd's syndicates belonging to the Argenta Holdings plc., thus being granted the "Member of Lloyd's" certificate. More

Austria will join GENERALI's CEE Region
by Vlad BOLDIJAR, 2017-12-20
Italian insurer GENERALI announced that, starting 1 January 2018, GENERALI Austria will join the Group's CEE structure becoming "a leading market of the Central and Eastern Europe Region". More

STATISTICS: Czech Rep. 3Q2017: MTPL and MoD generated together about one third of total GWP
by Vlad BOLDIJAR, 2017-12-20
At the end of September, the Czech insurance market amounted CZK 92.9 billion (about EUR 3.6 billion), representing a 3.8% y-o-y growth rate, according to the nine months market figures published by the Czech Insurance Association (CAP). More

VIG to hold about a quarter of the Baltic markets after the SEESAM acquisition
by Vlad BOLDIJAR, 2017-12-20
VIENNA Insurance Group (VIG) has agreed to fully acquire SEESAM Insurance AS (SEESAM). The agreement for the acquisition of SEESAM, part of the Finnish OP Finance Group, was signed on 18 December 2017. More

Bulgarian insurer EUROINS doubled its capital to EUR 32.5 million and achieved 120% SCR ratio
by Vlad BOLDIJAR, 2017-12-20
EUROINS AD, part of EUROINS Insurance Group AD (EIG), announced it has raised its capital two times to EUR 32.5 million. As a result the value of the company's capital indicators "have surpassed by far the ones required by the Solvency II Directive". More

SAVA Re at its 40th anniversary
by Daniela GHETU, 2017-12-20
Sava Re celebrates 40 years of operation. The company celebrated its 40th anniversary together with its employees and business partners on 21 November, with a focus on the future and the changes it brings. More

BOSNIA: Bosna Sunce Osiguranje takes steps to acquire Zovko Osiguranje
by Daniela GHETU, 2017-12-20
According to the Bosnian national competition authority, insurer Bosna Sunce Osiguranje has filed a request to acquire a majority shareholding interest in its local peer Zovko Osiguranje, SeeNews reports. More

After the Q3 massive loss events, Lloyd's has needed a GBP 3 billion capital inflow to restore its resources
by Daniela GHETU, 2017-12-20
Approx. GBP 3 billion of additional capital has been provided to restore Lloyd's of London's market capital resources to the level prior to the Q3 2017 loss events and to cover changes in capital requirements for 2018 underwriting, Lloyd's leaders said. More

FRISS Raises EUR 15 Million in Series A funding to fight and prevent insurance fraud globally
FRISS, the European market leader in analytics software for fraud, risk and compliance to P&C insurers, has announced it has closed a EUR 15 Million Series A funding. More

GENERALI agrees to sell non-life run-off portfolio of its UK branch
by Vlad BOLDIJAR, 2017-12-20
GENERALI has entered into an agreement to sell the Non-Life run-off portfolio of its UK branch, consisting of approx. EUR 300 million of liabilities, to COMPRE Group, a leading discontinued business specialists in the insurance industry. More

MUNICH Re increases its shareholding in GLOBAL AEROSPACE
by Vlad BOLDIJAR, 2017-12-20
GLOBAL AEROSPACE, a leading provider of aerospace insurance, announced that MUNICH Re has agreed to purchase an additional 11% of the shares in GLOBAL AEROSPACE Underwriting Managers Limited (GLOBAL) - the company that manages the GLOBAL AEROSPACE POOL. More

Germany: Selling life insurance run-off portfolios may be restricted in the future
by Daniela GHETU, 2017-12-20
Germany's Christian Democrats (CDU) are considering reforming life insurance regulations to make it more difficult for insurance companies to sell run-off portfolios, weekly news magazine Spiegel reported, quoted by Reuters. More

Insurance telematics policies in Europe and North America will reach a total of 65.2 million active in the next three years
by Daniela GHETU, 2017-12-20
Europe and North America will reach 65.2 million active insurance telematics policies in 2021, reads a recent research report. The number of insurance telematics policies in force on the European market reached 6.8 million in Q4-2016 and is expected to reach 30 million by 2021. More

TRAVELERS Europe prepares for Brexit by opening a new subsidiary in Dublin
by Daniela GHETU, 2017-12-20
Preparing for the Brexit "era", TRAVELERS Europe announced that it will apply to the Central Bank of Ireland for authorisation of a new, wholly owned insurance subsidiary incorporated in the Republic of Ireland. More


Chubb Names Matt Booker Senior Vice President, Major Accounts Property

KAZAKHSTAN: A.M. Best Affirms Credit Ratings of JSC IC Kazkommerts-Policy

KBC TFI acquired by PKO Bank Polski Group

Paul Moody named as Marsh's CEO of UK specialities unit

POLISH insurers raise 34.5% of Q3 life insurance GWP via bancassurance

SERBIA's Dunav Osiguranje expects 20% rise in profit in 2017

SLOVENIA: Insurer Adriatic seeking ways to address tough competition
GENERALI: ANCHUSTEGUI appointed new Group Chief Operations & Insurance Office
by Daniela GHETU, 2017-12-20
Assicurazioni GENERALI has appointed Jaime ANCHUSTEGUI MELGAREJO, currently head of the EMEA area, as Group Chief Operations & Insurance Officer, a position newly created as proposed by Group CEO, Philippe DONNET. More

Kurt SVOBODA is the new CEO of UNIQA Austria after Hartwig LOGER, left to join the government
by Vlad BOLDIJAR, 2017-12-20
Since the previous Chairman of UNIQA Austria Management Board, Hartwig LOGER, left to join the Austrian government as the country's next Finance Minister, the insurer announced that the former Chief Financial and Risk Officer, Kurt SVOBODA, will take on the CEO role, effective immediately. More

SCOR named Caren BUENING as Market Manager, Germany P&C Treaties
by Vlad BOLDIJAR, 2017-12-20
SCOR announced the appointment of Caren BUENING to the role of Market Manager, Germany P&C Treaties. As of January 1st, 2018, she will take full responsibility for the German P&C market. More

Board changes at ALLIANZ Global Corporate & Specialty in 2018
by Vlad BOLDIJAR, 2017-12-20
ALLIANZ Group's specialist corporate insurer ALLIANZ Global Corporate & Specialty SE (AGCS) announced changes to its Board of Management, which will take effect in 2018. More

MMC names Stacy MILLS Vice President and Controller
by Vlad BOLDIJAR, 2017-12-20
Marsh & McLennan Companies (MMC) announced the appointment of Stacy MILLS as Vice President and Controller, effective January 1, 2018. In this role, Stacy MILLS will serve as the firm's Chief Accounting Officer and report to Mark McGivney, Chief Financial Officer of MMC. More

CHUBB names Brian CHURCH as Head of International Property
by Vlad BOLDIJAR, 2017-12-20
CHUBB announced the appointment of Brian CHURCH as Executive Vice President and Head of International Property for CHUBB's Overseas General business, effective 1 January 2018. More


Czech Rep 3Q2017


IIF 2018 - CEE & SEE Regional Actuarial Insurance Conference
22 February 2018, Skopje, Macedonia
IIF 2018 - MOTOR Insurance Conference
14 March 2018, Bristol Hotel, Vienna, Austria
IIF 2018 - PROPERTY Insurance Conference
21 March 2018, Prague, Czech Republic
European Consumer Protection Conference
22 March 2018, Prague, Czech Republic
FIAR 2018 - The International Insurance-Reinsurance Forum
14-16 May 2018, Bucharest, Romania


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
4th Annual African Insurance Forum
5-6 April 2018, Johannesburg, South Africa


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