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XPRIMM News No. 393, 8 March, 2018

Insurance Newsletter, No. 393, 8 March, 2018

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TOP-10 insurers of the Russian market in 2017
by Marina MAGNAVAL, 2018-03-08
The TOP-10 Russian insurers in 2017 produced RUB 835 billion (EUR 12.12 billion) of GWP which is 9.4% more than in 2016, according to Central Bank statistics. Total claims amounted to RUB 329.7 billion (EUR 4.78 billion).
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Russian insurance market: 8.3% nominal GWP increase in 2017 supported by life insurance
by Marina MAGNAVAL, 2018-03-08
According to the Russian Central Bank the local insurance market showed a marked increase in GWP terms (nominal, in national currency) by 8.3% if compared to 2016.
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30 insurers left Russian market in 2017
by Marina MAGNAVAL, 2018-03-08
In 2017 30 insurance companies, 30 insurance brokers and 1 mutual insurance association were delisted from the unified State register of insurance entities.
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Russian reinsurance market, FY2017: RNRC's operations are abating the inward reinsurance market's decline
by Marina MAGNAVAL, 2018-03-06
According to the annual statistics published by the Russian Central Bank, the inward reinsurance market keeps a declining trend. Year-end results show a 2.8% decrease, while the same result for 9 months was 5.8%. In the absence of RNRC that decrease would amount to 24%.
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STATISTICS: CROATIA, FY2017: The insurance market exceeds EUR 1.2 billion in GWP
by Vlad BOLDIJAR, 2018-03-08
The aggregate GWP of Croatian insurers increased to HRK 9.05 billion (EUR 1.20 billion) in 2017, up by 3.38% y-o-y, as official data show.
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Russian Ministry of Finance is developing a three-tier system for foreign insurers in Russia
by Marina MAGNAVAL, 2018-03-08
The Ministry of Finance expects within next 3 years to start using a three-tier system of determining the powers and possibilities of divisions of foreign insurance companies in Russia, according to the Deputy Finance Minister Alexei MOISEYEV.
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Belarus: 18% GWP nominal y-o-y growth in January 2018
by Marina MAGNAVAL, 2018-03-08
Belarusian market started 2018 year with January GWP in the amount of BYN 101.5 million (EUR 41.4 million), which is by 18.4% more, in nominal terms, than in January of 2017, as informed by the Ministry of Finance of the Republic of Belarus.
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S&P improved the rating of VTB Insurance to BB-
by Marina MAGNAVAL, 2018-03-08
S&P Global Ratings upgraded the long-term credit rating of VTB Insurance from BB+ to BBB- with stable forecast. The stable forecast shows S&P"s opinion that within next 18-24 months the Group"s profitability will be sufficient for reduction of pressure on the bank"s capitalization rates.
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Largest number of road accidents with Ukrainian green card policies in 2017 recorded in Russia and Poland
by Marina MAGNAVAL, 2018-03-05
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in 2017 received 3,950 notifications of accidents on Ukrainian Green Card policies that occurred in the territory of the countries included in this international system, MTIBU Director General Volodymyr SHEVCHENKO has said.
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Insurance market of Azerbaijan in the beginning of 2018
by Marina MAGNAVAL, 2018-03-08
PASHA Sigorta collected in January 2018 more insurance premiums than any other insurance company in Azerbaijan, according to the Financial Market Supervisory Authority (MBNP), January GWP amounting to AZN 41.23 million (EUR 20.14 million) or 49.8% of total in Azerbaijan.
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IIF 2018: How does Turkey, a country with 27% of its population living in high earthquake risk area, prepare for a major Cat event
by Daniela GHETU, 2018-03-05
Some 27% of Turkey's population live in areas of the highest earthquake risk, while 26% of all buildings are located there, Deputy Prime Minister Recep AKDAG told the local press on March 1st, on the occasion of the "Earthquake Week."
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TRIGLAV Group's profitability improved despite the negative impact of higher claims
by Daniela GHETU, 2018-03-08
Slovenian TRIGLAV Group has reported a profit before tax amounting to EUR 84.4 million, which is above the budgeted level (planned at EUR 70-80 million). The preliminary figures show an overall positive evolution despite the higher claims related to the extreme weather events.

SLOVAKIA: extended taxation of the insurance premiums in preparation
by Daniela GHETU, 2018-03-06
A new indirect taxation system for the insurance premium is in preparation in Slovakia, replacing the current special insurance 8% levy with a rate which will vary from 2 to 18% depending on the type of the policy, local press reads.

The mutual insurance unit of the PZU Group launches D&O Medical
by Daniela GHETU, 2018-03-05
Polski Zaklad Ubezpieczen Wzajemnych (TUW PZUW), the mutual insurance company belonging to the PZU Group, will offer starting this months, as a first in Poland, TPL insurance a D&O type product addressing the specific issues of the medical activity.

UPDATE: AXA to acquire XL Group for EUR 12.4 billion
by Vlad BOLDIJAR, 2018-03-05
The French insurer AXA announced that it has entered into an agreement to acquire 100% of XL Group, one of the largest global Property & Casualty commercial lines re/insurer with strong presence in North America, Europe, Lloyd's and Asia-Pacific.
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Following the XL Group acquisition announcement, FITCH places AXA entities on Rating Watch Negative
by press.release, 2018-03-07
Fitch Ratings has placed AXA entities' Insurer Financial Strength (IFS) ratings and AXA SA's Long-Term Issuer Default Rating (IDR) on Rating Watch Negative (RWN). Find bellow the rating agency's press release.

SCOR successfully places an innovative USD 625 million deeply subordinated Tier 1 issuance, in highly favorable conditions
by Marina MAGNAVAL, 2018-03-08
SCOR has successfully placed a perpetual deeply subordinated notes issue on the Regulation S USD market in the amount of USD 625 million.More

FITCH assigns "A+ rating with stable outlook" to ACHMEA"s insurance operating entities
by Vlad BOLDIJAR, 2018-03-08
FITCH Ratings has assigned ACHMEA"s core insurance operating entities an Insurer Financial Strength Rating (IFSR) of A+ with a stable outlook.More

April 17, 2018 in Moscow will host a Forum of Insurance Innovations InnoIns-2018.?
This year's InnoIns-2018 (Forum of Insurance Innovations) organized by MIG Insurance Today (MIG) with support and participation of the All-Russian Insurance Association (ARIA) will review positive international and domestic experience and discuss recent achievements in new technologies.More?


VIG appointed Harald LONDER as new head of bancassurance
by Vlad BOLDIJAR, 2018-03-05
Austrian VIG announced the appointment of Harald LONDER as new head of bancassurance. "In this newly created department he will oversee the strategic and operational management as well as the ongoing development of bank partnerships throughout the Group".

Igor ZHUK, Director, Insurance Market Department of the Central Bank of the Russian Federation, steps down
by Marina MAGNAVAL, 2018-03-08
Igor ZHUK decided to leave the Central Bank, as RCB informed on 2nd of March, 2018. According to the Bank he is going to develop own projects. One of ZHUK's deputy directors, Alexey BARBASHOV, was nominated as Acting Director.
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by Daniela GHETU, 2018-03-08
FRISS, the fraud, risk and compliance solutions provider for the P&C insurance industry, welcomes Mark ENGELHART as their Data Protection Officer (DPO). Mark is schooled in the fields of Criminology and Law and is experienced in combating identity fraud and research into organized cybercrime.

AIG names MOURI as Executive VP & Chief Auditor, and DeMaio as Global COO, General Insurance
by Vlad BOLDIJAR, 2018-03-08
AIG announced the appointments of Naohiro MOURI as Executive Vice President and Chief Auditor, and Donna DeMaio as Global Chief Operating Officer, General Insurance, subject to regulatory approval.

Solmaz ALTIN to become board member of ALLIANZ Asia in June 2018 and to take over as Regional CEO in 2019
by Vlad BOLDIJAR, 2018-03-08
Solmaz ALTIN, currently the Chief Digital Officer of ALLIANZ, will join the ALLIANZ Asia Executive Board from June 1, 2018 and will succeed George SARTOREL as Regional CEO effective May 1, 2019.

Marlene DEBEL to lead MetLife retirement business
by Vlad BOLDIJAR, 2018-03-08
MetLife has named Executive Vice President Marlene DEBEL as head of the Retirement & Income Solutions (RIS) business effective immediately.More

ZURICH proposes Jasmin STAIBLIN for election to the BoD
by Vlad BOLDIJAR, 2018-03-08
ZURICH Insurance Group announced that the Board of Directors will propose to shareholders to elect Jasmin STAIBLIN to the Board for a one year term of office. The election will take place at the Annual General Meeting on April 4, 2018.More



Why should you attend the "IIF 2018 - MOTOR INSURANCE - the innovation challenge" conference?
by Adina TUDOR, 2018-03-08
Are you a CEO, Board Member, President, or Vice-President of an insurance company? Are you a re/insurance professional activating on the motor insurance field, a broker, a lawyer or a loss adjuster? Then you should attend the "IIF 2018 - MOTOR INSURANCE - the innovation challenge" conference if you want to:


14 top professionals representing over 10 countries will speak at the European Consumer Protection Conference
by Adina TUDOR, 2018-03-08
Representatives of EIOPA and Insurance Europe, as well as members of national insurance authorities and re/insurance companies will participate, as speakers, at the 4th edition of the European Consumer Protection Conference.


Who are the speakers participating at the "IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond" Conference?
by Adina TUDOR, 2018-03-08
Well-known international speakers, representing companies such as SWISS Re, FLOOD Re, SWISS Re, PERILS and AON Benfield, have already confirmed their participation at the "IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond" Conference.


President Insurance Supervision Agency, Macedonia

Most of the South Eastern Europe countries lack quality actuarial education. On the other hand, each country has different rules for organizing the educational circles for actuaries. It is mostly a matter of scale: there are not enough persons interested by an actuarial career in each country, meaning that it is not cost effective to organize every year educational programs for the actuarial field. We need to set up some regional center for actuarial education," Klime POPOSKI, President Insurance Supervision Agency, Macedonia stated for XPRIMM in a video interview recorded on the occasion of "IIF 2018 - CEE & SEE - Regional Actuarial Insurance Conference More


Take a quick survey and you have the chance to win an iPad Mini!?
by Adina TUDOR, 2018-03-08?
Until the 20th of April, C Consulting and XPRIMM are challenging insurance professionals to take part in a study focusing on the Insurance - Reinsurance Market in the SEE - CEE Region.



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

Aviva plc 2017 Preliminary Results?

Axa increases premium collection by 20% in ukraine in 2017?