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XPRIMM News No. 394, 15 March, 2018

Insurance Newsletter, No. 394, 15 March, 2018

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"IIF 2018 - MOTOR INSURANCE - the innovation challenge" Conference takes place tomorrow in Vienna
by Adina TUDOR, 2018-03-15
Insurance professionals from all over Europe gather tomorrow, 16 March, in Vienna, to participate at the "IIF 2018 - MOTOR INSURANCE - the innovation challenge" conference.

GENERALI Group reports record annual operating result
by Vlad BOLDIJAR, 2018-03-15
GENERALI Group reported FY net profit of EUR 2.11 billion, up by 1.4% y-o-y, while its operating result amounted to a record of EUR 4.89 billion (2.3% more y-o-y) "thanks to the positive performance of the life segment and the Investments, Asset & Wealth Management business and to the cost reduction reached two years ahead of schedule (-EUR 200 million in mature markets)".
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STATISTICS: Russia, FY2017: total market produced 8.3% of GWP more than last year
by Marina MAGNAVAL, 2018-03-15
According to the official data, published by the Central Bank of Russia, in 2017 all the market produced GWP worth RUB 1.28 trillion (~ EUR 18.58 billion), which is 8.3% more than in 2016.
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STATISTICS: Bulgaria FY2017: Insurers' profits decreased by 4.8% y-o-y to EUR 52.6 million
by Vlad BOLDIJAR, 2018-03-15
Bulgarian insurers ended 2017 with a 7.50% y-o-y growth-rate in GWP, to BGN 2.20 billion (EUR 1.12 billion), while the aggregate value of net profit decreased by 4.80% y-o-y to BGN 102.83 million (~ EUR 52.58 million), according to the Bulgarian FSA preliminary figures.
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HANNOVER Re 2017 net income beats Groups guidance despite natural catastrophes
by Vlad BOLDIJAR, 2018-03-15
German reinsurer HANNOVER Re reported FY2017 net income of EUR 958.6 million (previous year: EUR 1.17 billion) beating its EUR 800 million guidance, while the operating profit (EBIT) contracted to EUR 1.36 billion (vs. EUR 1.68 billion).
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SAVA Re hit the EUR 500 million GWP mark in 2017
by Vlad BOLDIJAR, 2018-03-15
Slovenian re/insurance group SAVA Re said it collected during 2017 gross written premiums worth EUR 517.2 million, 5.5% more than in 2016 and 4.7% more than it previously planned.
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British insurer AVIVA eyes bold acquisitions in Poland and Turkey
by Daniela GHETU, 2018-03-15
British insurer Aviva is considering acquisitions in Poland and Turkey, Chief Executive Mark WILSON told a media call last week.

Slovenia: the AZN decision against ADRIS will be reconsidered
by Vlad BOLDIJAR, 2018-03-15
The Slovenian Administrative Court annulled the Insurance Supervision Agency (AZN) decision to deny the Croatian holding ADRIS Grupa to increase its stake in SAVA Re to more than 20%.

Total number of SBERBANK Life Insurance's clients exceeded 10 million
by Marina MAGNAVAL, 2018-03-15
Since its establishment in 2012 SBERBANK Life Insurance has got over 10 million customers. This number can be compared to the population of Sweden or such biggest cities as Shenzhen and Djakarta which are month TOP-20 populous cities of the world.
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FITCH: tighter regulation may slow down Russian Life insurance boom
by Marina MAGNAVAL, 2018-03-15
Tighter conduct regulation may slow the rapid premium growth in Russia's life insurance sector, said Fitch Ratings in a new report.
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FITCH rates Kazakh insurer STANDARD Life "B"
by Marina MAGNAVAL, 2018-03-15
FITCH Ratings assigned Kazakhstan-based Life Insurance Company STANDARD Life an Insurer Financial Strength (IFS) Rating of 'B' and a National IFS Rating of 'BBB-(kaz)'. The Outlooks are Stable.
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KAFOLAT insurer was acknowledged as the best on the Uzbek capital market
by Marina MAGNAVAL, 2018-03-15
KAFOLAT insurance company won the annual competition "The best on the Uzbek capital market" based on its FY2017 result.
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SAVA Re acquires Serbian insurer ENERGOPROJEKT GARANT
by Vlad BOLDIJAR, 2018-03-15
Slovenian re/insurance group SAVA Re has acquired a 92.94% stake in Belgrade-based ENERGOPROJEKT GARANT, a small Serbian insurer specialising in construction and liability insurance.
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S&P outlook on three Russian insurers revised to Positive
by Marina MAGNAVAL, 2018-03-15
S&P Global Ratings revised its outlooks on Russia-based biggest insurers SOGAZ, INGOSSTRAKH and RESO-Garantia to positive from stable. At the same time S&P affirmed the ratings on all 3 companies.
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A.M. Best: Credit Ratings of XL Group Ltd and its subsidiaries under review with developing implications
by Daniela GHETU, 2018-03-15
Following the announcement of its acquisition by AXA, A.M. Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" of the property/casualty subsidiaries of XL Group Ltd (XL).

SAVA Re entered the Macedonian pension market
by Vlad BOLDIJAR, 2018-03-15
Slovenian SAVA Re announced it got the approval from the Macedonian Agency for Supervision of Fully Funded Pension Insurance (MAPAS) and the required approvals from other competition authorities for the acquisition of NLB Nov penziski fond AD Skopje.

CIGNA to acquire Express Scripts in USD 67 billion
by Marina MAGNAVAL, 2018-03-15
US health insurance company CIGNA has entered into a deal with Express Scripts to buy the pharmacy benefits manager (PBM) for USD 67 billion.
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AgroInsurance Conference - Swiss Re, Munich Re, Partner Re and Catlin XL to Sponsor the International AgroInsurance Conference in Belgrade
by Redactia, 2018-03-15
Leading reinsurance companies Swiss Re, Munich Re, Partner Re and Catlin XL act as key event's sponsors of the international conference "Agroinsurance and Reinsurance of Agricultural Risks in the CIS, Europe and Asia", which will take place on April 16-18, 2018 in Belgrade, Serbia.
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Romania: FSA approves Cosmin ANGHELUTA'S appointment for a new mandate as Deputy General Manager of Gothaer
by Adina TUDOR, 2018-03-12
Among the decisions adopted by the Romanian Financial Supervisory Authority (FSA) Board at its meeting on 7 March 2018, the appointment of Cosmin ANGHELUTA for a new mandate as Deputy General Manager of Gothaer Asigurari Reasigurari was also validated.More

Ivan de la SOTA appointed to ALLIANZ SE's Board of Management as Chief Business Transformation Officer
by Vlad BOLDIJAR, 2018-03-15
The Supervisory Board of ALLIANZ SE has appointed Ivan de La SOTA to the Board of Management of ALLIANZ SE to assume the role of Chief Business Transformation Officer, effective April 1, 2018.
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Robin SPENCER to leave NN Group
by Vlad BOLDIJAR, 2018-03-15
NN Group announced that Robin SPENCER will step down as Chief Executive Officer of International Insurance and member of the Management Board of NN Group, effective 1 June 2018.
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New Head of Investor Relations at AEGON
by Vlad BOLDIJAR, 2018-03-15
Jan Willem WEIDEMA has been appointed as the new Head of Investor Relations at AEGON. He succeeds Willem van den BERG who has led the Investor Relations team over the past 7 years.
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One week left until the 4th edition of the European Consumer Protection Conference
by Adina TUDOR, 2018-03-15
Consumer environment in the current European regulatory and economic landscape, the upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and the impact of technological advances in the field of financial services are just a few of the topics that will be analyzed next week at the European Consumer Protection Conference.


"IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond" Conference gathers international insurance professionals in Prague
by Adina TUDOR, 2018-03-15
Natural disasters in 2017 caused overall economic losses of USD 340 billion - the second-highest figure ever, show the latest data published by Munich Re. Moreover, 83% of natural disaster losses in 2017 were in North America, although only a quarter of all catastrophes occurred there.





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
XVI Russian Insurance Summit
6 June 2018, Saint Petersburg, Russian Federation

The Customer Experiences In Financial Services Conference
27 June 2018, London, UK

2nd Edition IFRS 17 Implementation in Life Insurance
25-27 June 2018, London, UK
8th Bancassurance Europe Summit 2018
26-29 June 2018, London, UK


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

?AZERBAIJAN sees rise in volume of insurance sector's assets

BULGARIA's DZI Life Insurance gets regulatory nod to acquire UBB-MetLife Life Insurance

BULGARIAN insurers' assets grow by 10.3% in 2017

SLOVENIA: Grawe's net profit up to EUR 1.6m in 2017

TURKEY: Insurance market employs around 20,000 people

UKRAINE: INGO summed up the results of 2017