XPRIMM News No. 386, 18 January, 2018

		Insurance Newsletter, No. 386, 18 January, 2018 Click here to subscribe! Click here to unsubscribe!

TOP NEWS ROMANIA: Top 10 insurance brokers accounted for nearly half of the mediated GWP in 3Q2017 by Vlad BOLDIJAR, 2018-01-17 The Romaninan insurance brokers mediated GWP worth RON 4.62 billion (EUR 1.02 billion) during the first nine months of 2017, 1,25% more y-o-y. Non-life premiums totaled RON 4.48 billion, while the value of mediated premiums related to life segment was RON 140.78 million. More STATISTICS: Latvian insurers' profits decreased by 88% during 3Q2017 by Vlad BOLDIJAR, 2018-01-18 The Latvian insurance market totaled EUR 482.63 million at the end of September 2017, or 15.21% more y-o-y, according to data released by the Financial and Capital Market Commission (FKTK). At the same time, the insurance companies paid EUR 262.12 million in claims (1.77% more y-o-y). More STATISTICS: Poland, 3Q2017: Stable results with impressive growth rates in motor classes by Vlad BOLDIJAR, 2018-01-18 At the end of 3Q2017 the Polish insurance market totaled PLN 46.15 billion (EUR 10.70 billion), up by 13.37% y-o-y, as the financial indicators published by the Polish Financial Supervision Authority (KNF) show. More STATISTICS: Slovakia, 3Q2017: Insurance market net profit down by 12.38% to EUR 135.69 million by Vlad BOLDIJAR, 2018-01-18 In the first three quarters of 2017, the Slovak insurance market totaled EUR 1.61 billion, representing an increase of 7.62% y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS). More STATISTICS: Turkey 3Q2017: Major fall in the top insurers' MTPL GWP following tariffs' ceiling by Vlad BOLDIJAR, 2018-01-18 During 3Q 2017, Turkish insurers reported aggregate GWP worth TRY 33.43 billion (EUR 7.96 billion), a nominal growth rate of 14.76%, according to the quarterly statistics published by the Association of Insurance and Reinsurance Companies of Turkey. More Azerbaijani State Agency for Compulsory Health Insurance becomes public legal entity by Daniela GHETU, 2018-01-18 State Agency for Compulsory Health Insurance of Azerbaijan has officially become a public legal entity, as the country's President has signed the decree that provides for the legal basis of its functioning. More COLONNADE Insurance to start operations in Romania by Vlad BOLDIJAR, 2018-01-18 COLONNADE Insurance, part of the Canadian group FAIRFAX Financial Holdings, officially begins its activity in Romania, following AIG's entry into a strategic partnership with COLONNADE Insurance to manage existing policies for AIG Europe Limited's Romanian Branch. More Fitch: Changes in the flood/quake tax adopted by Italy may slightly improve NatCat insurance coverage in Italy by Daniela GHETU, 2018-01-18 New incentives for customers in Italy to include natural catastrophe cover when they buy home insurance are a small credit positive for the country's non-life insurers, Fitch Ratings said on 15 January 2018. More Can we finally add "real-time" to catastrophe response systems? Many organizations with significant exposures to natural and man-made catastrophes struggle to quickly and accurately assess the impact of those disasters on their business. More SCOR completes the acquisition of MutRe by Vlad BOLDIJAR, 2018-01-17 French reinsurer SCOR said it has successfully completed its 100% acquisition of mutual reinsurer - MutRe S.A. SCOR has been a 33% shareholder and a major technical and commercial partner of MutRe since the company was created in 1998. More A.M. Best withdraws credit ratings of GENERALI Lebensversicherung A.G. A.M. Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "bbb+" from "a-" of GENERALI Lebensversicherung A.G. (Generali Leben) (Germany). More QATAR Re receives regulatory approvals to open a branch office in London by Vlad BOLDIJAR, 2018-01-17 QATAR Re - the Bermuda based reinsurer of the QIC Group announced that it has been authorised by the Prudential Regulation Authority (PRA) to carry out certain regulated activities in the UK from its branch office in London. More ON THE MOVE TRUST Re appoints Senior Treaty Underwriter to its Cyprus Branch Office by Vlad BOLDIJAR, 2018-01-12 TRUST Re announced the appointment of Daniel STANKO as Senior Underwriter - Treaty for its Cyprus Branch Office. He will be reporting to Sinisa LOVRINCEVIC, Cyprus Branch General Manager. More Swiss Re appoints Frank REICHELT responsible for market area of Austria & Central and Eastern Europe by Ana PREDA, 2018-01-16 Frank REICHELT, Swiss Re's Market Executive Germany & Northern Europe, will assume additional responsibilities for the market area of Austria & Central and Eastern Europe effective from 1 April 2018, according to the reinsurer recent release sent to XPRIMM. More Ex Generali COO will head the German operations of Zurich Insurance Group by Daniela GHETU, 2018-01-18 Zurich Insurance Group's German operations will be headed starting February by Carsten Schildknecht, ex COO for Generali and member of the insurer's Management Committee between 2013-2016. More JLT Re appoints Jeremy FOX as Asia-Pacific CEO by Vlad BOLDIJAR, 2018-01-17 Global reinsurance broker JLT Re announced the appointment of Jeremy FOX to the position of Chief Executive Officer (CEO) of JLT Re's Asia-Pacific unit (APAC). He will also become a member of the Reinsurance Global Executive Committee. More SAVA Re adds new member of the management board by Vlad BOLDIJAR, 2018-01-17 Slovenian re/insurer SAVA Re annoucend that the appointment of Polona Pirs ZUPANCIC as member of the management board has got the Insurance Supervision Agency's (ISA) approval. She started her term of office on 14 January 2018. More PRESS CUTTINGS AZERBAIJAN discusses creating insurance market modernization mechanism BULGARIA: DZI Life Insurance gets nod to acquire UBB-MetLife GREECE: Ethniki Insurance deal to be funded by giants? KAZAKHSTAN: NBK to buy insurance services via tender POLAND: Allegro starts cooperation with PZU TURKEY: Law to be amended to clarify scope of motor insurance cover

TRENDS & MARKETS Allianz Risk Barometer 2018 - Business Interruption and cyber-related incident, top threats for companies globally; NatCat risks return on the top risk agenda Evolving nature of risk, and rise in cyber-related incidents, means business interruption ranks as top threat for companies globally, according to 1,900+ risk experts from 80 countries, the latest Allianz Risk Barometer shows. On the other hand, while the economic state of the global economy seems to arouse less concern, the strong wave of Nat Cat events brought by the second half of 2017 has placed once again natural catastrophes and climate change up on the risk agenda. More STATISTIC UPDATES Latvia 3Q2017 Poland 3Q2017 Slovakia 3Q2017 Turkey 3Q2017 PARTNER EVENTS 5th Insurance Claims & Underwriting Management Asia Summit 2018 6-9 February 2018, Singapore 56th Session of the Commission for Social Development 29 January - 7 February 2018, United Nations Headquarters, New York 6th Edition Nordic Asset Allocation: Investing in Alternative Asset Classes 7-9 March 2018, Stockholm, Sweden Chief Data & Analytics Officer, Insurance 26-28 March, 2018, Chicago, USA 4th Annual African Insurance Forum 5-6 April 2018, Johannesburg, South Africa XXII Annual Conference on Reinsurance 10-12 April 2018, Moscow, Russia Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia 16-18 April 2018, Belgrade, Serbia XII International Conference "Insurance in Central Asia" 16-17 April 2018, Almaty, Kazakhstan XIV International Risk Management Conference 19-20 April 2018, Almaty, Kazakhstan CURRENT XPRIMM REPORTS RUSSIA 1H2017 KAZAKHSTAN FY2016 & 1H2017 TURKEY FY2016 & 1H2017 ROMANIA 1H2017 Ins. Report CEE, SEE & CIS – 1H2017 Motor Ins. Report FY2016 Property Ins. Report FY2016