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XPRIMM News No. 395, 22 March, 2018

Insurance Newsletter, No. 395, 22 March, 2018

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img_lead_10879The 4th edition of the European Consumer Protection Conference: Main conclusions
by Alexandru CIUNCAN, 2018-03-22
The European Consumer Protection Conference, taking place today, 22 March, in Prague, brings into debate the 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.

CEE Region generates 55.1% of the VIG FY2017 premiums and around 57% of the overall gross profit
by Vlad BOLDIJAR, 2018-03-22
Austrian insurer VIENNA Insurance Group announced its FY2017 premiums increased to around EUR 9.4 billion (+3.7%), the profit (before taxes) was up to around EUR 443 million (+8.8%), while the combined ratio improved to 96.7% (2016: 97.3%).
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STATISTICS: BOSNIA, FY2017: The share of RS insurers exceeds 30%
by Vlad BOLDIJAR, 2018-03-22
Last year, the aggregate GWP of the 27 Bosnian insurers increased by 7.77% y-o-y to BAM 683.23 million (EUR 349.33 million), as data from the local insurance agency - AZOBIH show.
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STATISTICS: MACEDONIA, FY2017: More than 57% of concluded contracts are related to motor classes
by Vlad BOLDIJAR, 2018-03-22
The Macedonian insurance market totalled MKD 8.99 billion (EUR 146.24 million) at the end of 2017, up by 3.10% y-o-y, according to data published by the local Insurance Supervision Agency.
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STATISTICS: MONTENEGRO, FY2017: GRAWE and LOVCEN lead the market rankings
by Vlad BOLDIJAR, 2018-03-22
The insurance market of Montenegro totalled EUR 81.77 million at the end of 2017, representing an annual increase of 2.00%, according to the preliminary figures published on the ISA's web-site.
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LLOYD's market swings to heavy GBP 2 billion loss for 2017
by Marina MAGNAVAL, 2018-03-22
The Lloyd's market has posted a GBP 2 billion pre-tax loss for 2017, a severe deterioration from the GBP 2.1 billion profit it reported this time last year as the venerable institution's combined ratio swelled to a hefty 114%.
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Hungary, Romania and Bulgaria generate about 22% of GROUPAMA's international business
by Vlad BOLDIJAR, 2018-03-21
French insurer GROUPAMA reported significant increase in its FY2017 aggregate operating income at EUR 349 million, up by EUR 156 million, while the premium income was up by 2.9% y-o-y to EUR 13.8 billion. At the same time, the net income decreased by EUR 30 million to EUR 292 million.

Bulgaria: KBC completes acquisition of MetLife's 40% stake in UBB-MetLife joint venture
by Vlad BOLDIJAR, 2018-03-21
Belgian financial group KBC said it has completed the acquisition, through its Bulgarian subsidiary DZI Insurance, of MetLife's 40% stake in UBB-MetLife Life Insurance Company, a life insurance joint venture between United Bulgarian Bank (UBB) and MetLife (UBB-MetLife).

MUNICH Re expects to generate a profit of EUR 2.1-2.5 billion in 2018
by Vlad BOLDIJAR, 2018-03-22
MUNICH Re announced it has raised its profit guidance compared with the previous year and is expecting to generate a profit of EUR 2.1-2.5 billion in 2018. The Company also announced that it would buy back another EUR 1 billion worth of shares before the Annual General Meeting in 2019.
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TALANX FY 2017: net income down by 25.6% y-o-y
by Vlad BOLDIJAR, 2018-03-22
German insurer TALANX said it achieved FY 2017 net income of EUR 672 million (vs. EUR 903 million a year before), while premium income grew by 6.3%, totalling EUR 33.1 billion.
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Brexit uncertainty drives AM Best negative outlook on UK insurance sector
by Marina MAGNAVAL, 2018-03-22
On the day that LLOYD's of London posted its worst result since 2001, AM Best went negative on the UK non-life sector citing a difficult operating environment caused by competitive market conditions and Brexit uncertainty.
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Fitch: Rising prices helped UK motor insurers to improve their earnings in 2017
by Daniela GHETU, 2018-03-21
Fitch Ratings says in a new report that motor premium rate increases helped improve UK non-life insurers' 2017 earnings.
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Smartphone OEMs are striving to conquer the fast growing global mobile phone insurance market
by Daniela GHETU, 2018-03-22
The global mobile phone insurance market is expected to account for USD 20.5 billion in revenue by the end of 2017 and is further expected to grow at a CAGR of approximately 10% over the next three years, a recent report reads.More

20 insurers left the Ukrainian market in 2017, according to the National financial services commission
by Marina MAGNAVAL, 2018-03-21
20 insurers were delisted from the national register of financial organizations of Ukraine in 2017 (14 - risk insurers and 6 - life insurers), as it appears from the report of the National financial services commission of Ukraine.
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Russian national reinsurer gets Indian regulatory approval for the local market
by Marina MAGNAVAL, 2018-03-19
Russian National Reinsurance Company (RNRC) got an approval from the Indian insurance regulatory authority (IRDA of India) which is necessary for starting operation in the Indian insurance market as a foreign reinsurer, - the reinsurer informed on the official website on March 16.
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MOODY's upgrades Belarus' ratings to B3 from Caa1; outlook remains stable
by Marina MAGNAVAL, 2018-03-21
MOODY's Investors Service (MOODY's) on March 16, 2018 upgraded the Government of Belarus' issuer and senior unsecured ratings to B3 from Caa1. The outlook remains stable.
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Russian insurer RESO considers IPO in April
by Vlad BOLDIJAR, 2018-03-21
Russian insurer RESO is considering an initial public offering (IPO) in April, wrote Reuters quoting two banking sources.
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Russian experts forecast a downward trend for the Motor Hull class in 2018
by Marina MAGNAVAL, 2018-03-21
In 2018 GWP of Motor Hull class will continue the downsize trend despite the growth of the passenger cars market, as informed by the national rating agency EXPERT RA.
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Kazakhstan-Based Oil Insurance Co. 'B+' Rating Placed on CreditWatch Negative on Partial License Suspension
by Marina MAGNAVAL, 2018-03-22
On March 3, 2018 Oil Insurance's (NSK) license to write obligatory insurance business was suspended for three months, following procedural violations and capital adequacy breaches the previous year.
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AgroInsurance Conference - The conference program has been updated with new topics. Nineteen keynote speakers will make presentations on various subjects related to agricultural insurance
by Marina MAGNAVAL, 2018-03-22
More than 70 delegates from 25 countries have confirmed their participation. Various aspects of agricultural insurance will be presented by nineteen guest speakers. An updated program, information about confirmed presenters and the latest list of participants are available on the event's website -
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"IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond" Conference takes place tomorrow in Prague
by Adina TUDOR, 2018-03-22
The "IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond", taking place on Friday, 23 March, in Prague, brings into debate the NatCat insurance gap, but also the newly developed aspects of the manmade property risks.




Vinod KRISHNAN joins JLT Re as CEO Asia, Treaty?
by Vlad BOLDIJAR, 2018-03-22?
JLT Re, the global provider of reinsurance broking and consultancy, has appointed Vinod KRISHNAN as CEO, Asia Treaty. Based in Singapore, Vinod KRISHNAN will be responsible for building the Treaty offering in the ASEAN nations and South Korea.

AON UK Ltd appoints new Chief Risk Officer
by Vlad BOLDIJAR, 2018-03-22
AON UK Ltd has confirmed the appointment of Matt KIMBER as Chief Risk Officer (CRO). Matt KIMBER has joined AON from JARDINE LLOYD THOMPSON Group (JLT), replacing John NICHOLSON who has been interim CRO for the last 11 months.


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

Achmea Annual Results 2017

Adriatic Slovenica with more premiums but less profit in 2017

Aviva's Lithuania arm to repay some customer money after law breach

AZERBAIJAN: PASHA Life announces of financial performances for 2017

BULGARIA's Euroins to launch operations in Poland in H1

BULGARIAN insurer Armeec sells majority stake in Russian unit

GREECE: Ethniki equity listing possible if Exin deal flops

HUNGARY: CIG Pannonia expands to Baltic states

Liberalizing MTPL Insurance Market in Macedonia FIRST Initiative Funded Project World Bank

UKRAINE: European Insurance Alliance plans to close 11 regional units