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XPRIMM News No. 397, 5 April, 2018

Insurance Newsletter, No. 397, 5 April, 2018

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VIENNA Insurance Group completes mergers in Hungary and Slovakia
by Vlad BOLDIJAR, 2018-04-04
VIENNA Insurance Group announced Hungary's central bank approved the merger of the three VIG Group companies. Thus, starting 1 April 2018, VIG will be represented in Hungary solely by the insurance company UNION Biztosito, while in Slovakia, bancassurer Poistovna Slovenskej sporitelne (PSLSP) will merge with Kooperativa Poistovna.
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STATISTICS: Romania, FY2017: the growth trend was maintained by the life insurance segment
by Vlad BOLDIJAR, 2018-04-05
The Romanian insurance market in Romania continued its growth trend in 2017, the local industry totaling RON 9.7 billion (EUR 2.1 billion), 3.5% more than in the previous year.

STATISTICS: POLAND, FY2017: motor insurance lines account for 60% of the non-life GWP and over 67% of the paid claims
by Daniela GHETU, 2018-04-05
Polish insurers ended 2017 with aggregated net profit of PLN 5.7 billion (EUR 1.37 billion), of which PLN 2.3 billion came from the life insurance segment and PLN 3.4 billion was the result of the non-life business.

PZU Group, 2017: GWP and net profit exceeding all previous records
by Daniela GHETU, 2018-04-04
Polish PZU Group ended 2017 with a record GWP volume, of PLN 22.8 billion (EUR 5.46 billion), 13.0% up y-o-y. The Group's consolidated net profit also increased by?78.3%?y-o-y to?PLN?4.2 billion, despite?the occurrence of large weather losses.
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TRIGLAV Group, 2017: profit exceeding target, despite the "costly" NatCat events
by Daniela GHETU, 2018-04-05
The TRIGLAV Group generated profit before tax of EUR 84.4 million in 2017, exceeding the planned value of EUR 70-80 million. The financial performance was achieved despite the costly year in NatCat terms, by high premium growth and a good cost control.
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SAVA Re, 2017: positive results in the first year after the merger of the Group's EU-based units
by Daniela GHETU, 2018-04-05
At the end of the first year following the merger of the Group's EU-based insurance companies, SAVA Re Group has recorded consolidated GWP of EUR 517.23 million, 5.5% more y-o-y, according to the audited Annual Report 2017 published today.

Decreasing 2017 profits for the top 5 global reinsurers
by Marina MAGNAVAL, 2018-04-04
Top 5 global reinsurers saw a USD 11.3 billion decrease of their aggregated profits in 2017 as their balance sheets for 2017 were severely impacted by a sharp increase in loss experience following the large-scale weather events in the second half of the year.
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SoftBank investment not to exceed 10% of Swiss Re's share capital
by Vlad BOLDIJAR, 2018-04-04
Swiss Re confirmed negotiations are still ongoing in respect of a minority investment by SoftBank its share capital, currently expected not to exceed 10% - a much smaller value than the 20% - 30% investment previously announced by media.
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"De-Mystifying InsurTech: a Legal and Regulatory View", the main theme of the 7th AIDA Europe Conference
by Adina TUDOR, 2018-04-02
Over 200 leading insurance and legal professionals, academics and regulators from over 30 countries will gather in Warsaw, between 12 April and 13 April 2018, to participate at the 7th AIDA Europe Conference.

RUSSIA: another nine insurers may leave MTPL segment this year
by Marina MAGNAVAL, 2018-04-04
Russian insurers keep leaving the MTPL segment and another 9 companies are almost ready to do it this year, as estimated by the Russian National Rating agency (NRA).
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RUSSIA: RENAISSANCE Insurance Group cancelled its life insurance license
by Marina MAGNAVAL, 2018-04-05
Bank of Russia revoked the license of RENAISSANCE Insurance Group for voluntary life insurance on April 5, 2018. The decision was taken due to the insurer's voluntary surrender of the licensed insurance activity.
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SBERBANK Life Insurance - 47% increase of the net profit in 2017
by Marina MAGNAVAL, 2018-04-04
According to the official insurer's report in 2017 net profit of SBERBANK Life Insurance amounted to RUB 13.3 billion (EUR 0.19 billion), which is 47% more than a year before. Total assets jumped by 78% to RUB 228 billion (EUR 3.31 billion).
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ARMENIA: MTPL loss ratio could hit 70% by the end of 2018
by Marina MAGNAVAL, 2018-04-04
MTPL loss ratio may amount to 70% by the end of 2018, said ArmInfo with reference to the market forecast of the General Manager of the Armenian Bureau of Motor Insurers, Vaan AVETISYAN.
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International Conference InsuranceNEXT'UA 2018 to be held on June 14-15, 2018 in Kiev
Ukrainian Federation on Insurance and the digital economy and fintech Future Magazine announce the Second Non-profit International Conference InsuranceNEXT'UA 2018.
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JLT Re makes three executive appointments
by Vlad BOLDIJAR, 2018-04-05
JLT Re (North America) Inc. (JLT Re), part of the global provider of reinsurance broking and consultancy, announced three executive appointments.

President of the All-Russian Insurance Association may be replaced soon
by Marina MAGNAVAL, 2018-04-04
President of the All-Russian Insurance Association (ARIA) Igor YURGENS may step down from the presidency in the nearest time being replaced by the Executive Vice-President of ARIA Andrey YURIEV - Deputy Chairman of the Management Board of RNRC, Regnum information agency said.
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Juan Canellas BALANZA appointed Chief Sales Officer of the NN Life Insurance Romanian subsidiary
by Daniela GHETU, 2018-04-04
NN Insurance Romania has announced the appointment of Juan Canellas BALANZA, starting 1 April, as Chief Sales Officer.

ZURICH shareholders elected the former Swiss Re CEO as new Chairman
by Vlad BOLDIJAR, 2018-04-05
At the Annual General Meeting of ZURICH Insurance Group Ltd (ZURICH), shareholders elected Michel LIES - the former Swiss Re CEO, as a new member and Chairman of the Board of Directors for a term of office of one year.

Laurent ROUSSEAU to become Deputy CEO of SCOR Global P&C and to join SCOR's Executive Committee
by Vlad BOLDIJAR, 2018-04-04
SCOR announced that Laurent ROUSSEAU will become Deputy CEO of SCOR Global P&C and will join the Group's Executive Committee effective April 1, 2018.
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CHUBB announces new appointment and changes within its European PRS team
by Vlad BOLDIJAR, 2018-04-04
CHUBB has announced one new appointment and two new role changes within its European Personal Risk Services (PRS) team.

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.


CEO, SBERBANK Life Insurance

We expect an increase of the investment life insurance penetration in Russia due to the new legislation on unit-linked, which will allow us to offer new products without guarantee in the context of falling rates. The source for potential growth is the inclusion of life insurance in the new pension system, where insurers could become operators of voluntary pension savings along with non-government pension funds.

Poland, FY2017
Romania, FY 2017





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

A.M. Best Affirms Credit Ratings of Insurance Company London-Almaty

ALBANIAN economy grows 3.36 pct in Q4 2017

Assets of Azerbaijani insurance company increase

Azerbaijan's AzerSigorta completes 2017 with profit

Dutch NGO coalition: Achmea in top three most sustainable insurance companies with its investments

Ethniki bid process re-opened after Exin falls short

Fairfield: We are still in the race for Ethniki

GREECE's NBG looking at all options on insurance arm sale, CFO says

GREECE's NBG says deal to sell insurance arm to EXIN terminated

Nationale-Nederlanden Poland starts offering travel insurance

SLOVENIA's Adriatic Slovenica teams up with local Iryo startup