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XPRIMM News No. 392, 1 March, 2018

Insurance Newsletter, No. 392, 1 March, 2018

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STATISTICS: GREECE, FY2017: The positive rates reported on non-life side, maintained the market at the 2016 size
by Vlad BOLDIJAR, 2018-02-28
According to the year-end market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totalled EUR.3.78 billion at the end of 2017, up by 0.05% y-o-y.
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STATISTICS: Lithuania, FY2017: Life payments generated one third of total indemnities
by Vlad BOLDIJAR, 2018-02-28
Lithuania's insurance market totaled EUR 792.60 million at the end of 2017, 11.66% more y-o-y according to the year-end market statistics provided by Lietuvos bankas.
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Exclusive: Preliminary results of the Moldovan insurance market in 2017, find out here the ranking of the companies
by Stefan GORBAN, 2018-03-01
Moldovan insurance market produced GWP in the amount of EUR 70.6 million (MDL 1.5 billion) in 2017, 4.8% up y-o-y, according to the preliminary data of the Supervisory Authority (CNPF), centralized for the first time by the specialized portal
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Central Bank of Russia: foreign interest in charter capital of insurers decreased to 11.29%
by Marina MAGNAVAL, 2018-02-28
Foreign interest in charter capital of Russian insurers amounted to 11.29% as of 01.01.2018, according to the annual report of the Central Bank. Thus, total capital owned by foreign investors at the same date amounted to RUB 24.4 billion (~ EUR 0.35 billion).

VTB Group's insurance retail business profit increased by 65.6%
by Marina MAGNAVAL, 2018-02-28
Net profit of insurance retail business of VTB Group in 2017 increased by 65.6% and amounted to RUB 20.4 billion (~ EUR 296.22 million) against RUB 12.2 billion in 2016 (~ EUR 191.19 million), as reported by the Group.
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SBERBANK Life Insurance GWP increased by 76% in 2017
by Marina MAGNAVAL, 2018-02-27
GWP of SBERBANK Life Insurance (based on a preliminary report) exceeded RUB 102 billion in 2017 (~ EUR 1.48 billion) which is 76.5% more than in 2016 in local currency, or 63.5% considering GWP figures denominated in euro. Total claims amounted to RUB 5.3 billion.
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MTIBU (Motor Transport Insurance Bureau of Ukraine) presented MTPL statistics for 2016-2017: GWP, claims and losses growing
by Marina MAGNAVAL, 2018-02-27
The number of MTPL policies in Ukraine in 2017 increased by 5% up to 7,405,290. Total MTPL GWP exceeded UAH 3.73 billion (+9.6% if compared to 2016).
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Tajikistan 'B-/B' Ratings Affirmed; Outlook Remains Stable
by Marina MAGNAVAL, 2018-02-27
Tajikistan's strong economic growth is expected to continue in 2018-2021, primarily supported by public investments. At the same time the country's economic base remains narrow, with a high dependency on remittances from Russia and very low GDP per capita, according to the report of S&P.
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Register now at the 2nd Edition - IFRS 17 Implementation in Life Insurance Conference. XPRIMM readers benefit from special discounts!
by Adina TUDOR, 2018-02-27
The 2nd Edition - IFRS 17 Implementation in Life Insurance Conference, organized by Marcus Evans and supported by XPRIMM Publications as Media Partner, will show life insurers how to develop appropriate controls, systems and models in line with IFRS 17.

Special discounts for XPRIMM readers at the Strategic Risk Management for Transformation in Insurance Conference
by Adina TUDOR, 2018-02-27
The Strategic Risk Management for Transformation in Insurance Conference brings into debate practical examples of how insurers manage and monitor exposure to risk emerging from change in technology, regulation, and the business.
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Agroinsurance Conference: focus on the technical aspects of agroinsurance against drought and livestock disease
The "Agricultural Insurance, Reinsurance and Brokerage in the CIS, Europe and Asia" Conference will discuss the technical aspects and characteristic features of drought and livestock disease insurance programs. Representatives of Munich Re and TARSIM will share their own first-hand experience in drought crop insurance.
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PERILS's initial loss estimate for extratropical cyclone Friederike at EUR 1,465 million
by Daniela GHETU, 2018-03-01
PERILS has disclosed its initial loss estimate for Extratropical Cyclone "Friederike", also known as "David", at EUR 1,465 million insured losses, the largest part of which recorded in Germany and Netherlands.

Swiss Re FY2017 profit down by 90% y-o-y as a result of large NatCat losses
by Vlad BOLDIJAR, 2018-02-27
Reinsurer Swiss Re annouced its aggregate FY2017 net income decreased by about 90% to USD 331 million (vs. USD 3.56 billion a year before), as a result of the large natural catastrophes, while the Group GWP was USD 34.77 billion vs. USD 35.62 bilion in 2016.
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JLT, FY2017: organic revenue increase and a growth oriented strategy in progress
by Daniela GHETU, 2018-02-28
Jardine Lloyd Thompson Group plc (JLT) has recorded revenues of GBP 1.386 billion in 2017, up 10% y-o-y, while the underlying profit before tax reached GBP 191.5 million, up by 11% y-o-y, the preliminary results announced by the Group show.
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UNIQA FY2017 consolidated net profit up to EUR 161.4 million
by Vlad BOLDIJAR, 2018-03-01
Austrian insurer UNIQA said its FY2017 Group GWP rose 4.9% y-o-y, to EUR 5.29 billion, while the combined ratio lowered to 97.5%. At the same time, the total amount of retained insurance benefits rose by 5.1% y-o-y, to EUR 3.56 billion.

AXA's 2017 profit up by 7% y-o-y, to EUR 6.21 billion
by Vlad BOLDIJAR, 2018-03-01
French insurer AXA reported FY 2017 gross revenues of EUR 98.55 billion, down by 2% y-o-y, while the net profit increased by 7% y-o-y, to EUR 6.21 billion.

Zurich acquires QBE operations to become the leading insurer in Argentina
by Marina MAGNAVAL, 2018-02-27
Zurich has entered into an agreement to acquire the operations of Australian insurer QBE in Latin America. Zurich will also build incremental scale in Brazil, Colombia and Mexico and become a top three insurer in Ecuador.
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ACHMEA pays out over EUR 100 million to customers hit by January storms
by Vlad BOLDIJAR, 2018-03-01
ACHMEA expects to pay out over EUR 100 million to customers who were affected by the storms that hit the Netherlands on 3 and 18 January of this year.
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JLT Specialty announced two new appointments
by Vlad BOLDIJAR, 2018-02-27
The insurance broker and risk consultant JLT Specialty - part of of Jardine Lloyd Thompson Group plc (JLT), said it expands its M&A Business with tax appointment, while the former Head of European Life Science Practice at Swiss Re and MARSH will lead JLT Life Science in Europe.

Industry veteran Adam SANDLER appointed to run RMS's Modeling & Data Solutions
by Daniela GHETU, 2018-03-01
RMS, the global risk modeling and analytics firm, announced that Adam SANDLER has been appointed as Head of Underwriting, Cyber and Model Solutions. He will report to Mohsen Rahnama, RMS Chief Risk Modeling Officer and General Manager of Models and Data Solutions.

Dominic CHRISTIAN appointed Global Chairman of Aon Benfield
by Daniela GHETU, 2018-03-01
Aon plc announced that Dominic CHRISTIAN has been appointed as Global Chairman of Aon Benfield. At the same time, Julie PAGE has been promoted to Chief Executive Officer of Aon UK Ltd, subject to regulatory approval.

Alex JOMAA appointed as Cyber Underwriter with Tokio Marine Kiln
by Daniela GHETU, 2018-03-01
Alex JOMAA was appointed as Cyber Underwriter with Tokio Marine Kiln (TMK), a leading provider of specialist and corporate insurance. He takes up the role immediately and will report to Laila KHUDAIRI, Head of Enterprise Risk in London.

XL Catlin appoints Claudia THYME as Director Emerging Markets Development
by Vlad BOLDIJAR, 2018-02-27
XL Catlin has appointed Claudia THYME to the role of Director Emerging Markets Development. In this role, she will contribute to driving and executing XL Catlin's emerging market strategies, with a particular focus on Latin America.



Who are the speakers of the "IIF 2018 - MOTOR INSURANCE - the innovation challenge" Conference?
by Adina TUDOR, 2018-02-27
The use of technology in support to better services and operational efficiency, as well as the future challenges in the Green Card system are just a few of the topics analyzed by international insurance professionals at the "IIF 2018 - MOTOR INSURANCE - the innovation challenge" Conference.


What are the topics analyzed during the European Consumer Protection Conference?
by Adina TUDOR, 2018-02-28
The 4th Edition of the European Consumer Protection Conference brings into debate, through high-level speakers, the current European regulatory and economic landscape, as well as digitalization and the impact of technological advances in the field of financial services.


Why should you attend the "IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond" Conference?

Taking place on 23 March in Prague, Czechia, the "IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond" Conference brings into debate the NatCat insurance gap, but also the newly developed aspects of the manmade property risks.


CEO BCR Asigurari de Viata

The life, accident and health insurance system in total should be considered as a complementary part to the Romanian state insurance system, providing an important support for the access of the population to superior medical services and to create personal security in a highly regulated and supervised manner according to EU principles.

Therefore, the extension of the state subsidies from health to life and accident insurance as well would be appropriate and raises Romanian life insurance industry on a European level. More

Lithuania FY2017


6th Edition Nordic Asset Allocation: Investing in Alternative Asset Classes
7-9 March 2018, Stockholm, Sweden

The Customer Behaviour Analytics Conference
13 March 2018, London, UK 

Robotics and Analytics in Finance
15-16 March  2018, Prague, Czech Republic

The Winning Digital Marketing Financial Services Conference
15 March 2018, London, UK 

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
11-12 April 2018, Moscow, Russian Federation

7th AIDA Europe Conference
12-13 April 2018, Warsaw, Poland

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

IFRS 9 Expected Credit Loss Modelling MasterClass
19-20 April, 2018, Vienna, Austria

The Digital Transformation Stories Conference
15 May 2018, London, UK
Strategic Risk Management for Transformation in Insurance
24-25 May 2018, London, UK
The 32nd International Insurance Tennis Tournament
1-3 June, 2018, Istanbul, Turkey


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

Aegon concludes 2017 with strong fourth quarter results

AZERBAIJAN's largest non-life insurance company to increase agricultural portfolio

AZERBAIJAN: A.M. Best Affirms Credit Ratings of PASHA Insurance OJSC

ERGO and IBM agree on life portfolio management partnership

Generali approves climate change strategy. It will divest EUR 2 billion from coal

GREECE: Exin appeals for more time to finalise Ethniki offer

Interview with Miroslav Singer: Good Times will continue in 2018