 TOP
NEWS |
JLT Re: What challenges do reinsurers face in 2018?
by Adina TUDOR, 2018-05-10
The continued supply vs demand imbalance is probably the biggest challenge facing the reinsurance sector in 2018, Guy HUDSON, Partner, JLT Re, and Liz LOTZ, Global Head of Sales Strategy - Analytics, JLT Re, explained for XPRIMM Publications.
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STATISTICS: CEE Region, FY2017: 11.5% increase in GWP on the economic growth wave
by Daniela GHETU, 2018-05-10
The CEE insurance business has benefitted from the economic momentum and closed 2017 with an average GWP growth of 11.5%, to EUR 36.2 billion. Non-life insurance segment provided for 76% of the GWP growth, almost half of it due to the MTPL insurance line.
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CROATIA Osiguranje, 1Q2018: net profit up by 50% y-o-y
by Daniela GHETU, 2018-05-10
Adris group's insurance arm, CROATIA Osiguranje, posted a net profit of HRK 101.5 million (~EUR 13.7 million) in 1Q2018, up 50% y-o-y. Its consolidated GWP went up by 7% y-o-y, to HRK 1.10 billion (~EUR 148.6 million).
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LATVIA, 1Q2018: aggregate loss from mandatory MTPL 33 times lower y-o-y
by Daniela GHETU, 2018-05-10
Latvian insurers' aggregate loss from mandatory MTPL insurance was EUR 120,000 in 1Q2018, down from EUR 4.05 million in the same period last year, reports LETA, according to information released by the Motor Insurers' Bureau of Latvia (LTAB).
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BELARUS, 1Q2018: GWP increase by 18% y-o-y
by Marina MAGNAVAL, 2018-05-10
In 1Q2018 Belarusian insurers generated GWP of direct insurance and co-insurance in the amount of BYN 299.6 million (~EUR 125 million), which is 18% more than a year before, - informed the Ministry of Finance of the Republic.
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RUSSIA: RAEX recalled its credit rating of ROSGOSSTRAKH Life
by Marina MAGNAVAL, 2018-05-10
Rating agency RAEX (Expert RA) recalled its credit rating of ROSGOSSTRAKH Life upon the request of the insurer due to lack of sufficient information for the methodology application. Before the company had a credit rating ruBBB+, forecast stable.
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UZBEKISTAN: Charter capital of O'zbekinvest Hayot increased to UZS 16.52 billion to comply with new market rules
by Marina MAGNAVAL, 2018-05-10
Due to insurance reforms in the country as per July 1, 2018 charter capital of all acting life insurance companies should amount to UZS 15 billion (~EUR 1.5 million).
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KYRGYZSTAN: insurance industry is developing, only with difficulty
by Marina MAGNAVAL, 2018-05-10
In May the Association of the Kyrgyz Insurers conducted an annual meeting, dedicated to discussion of the last year result. According to the participants of the meeting in 2017 the local market was developing gradually and the insurance volume growth amounted to 12.5 %.
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KAZAKHSTAN: the beginning of the year hit the record of MTPL payments
by Marina MAGNAVAL, 2018-05-10
During the first 4 months of 2018 the Kazakh market reached new peak - more than 1,000 of MTPL payments per month to car owners by the market leader - EURASIA (vs around 600-700 monthly payments in 2017).
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AXA Q1 indicators show its focus on preferred segments
by Marina MAGNAVAL, 2018-05-10
French AXA delivered a strong operating performance in 1Q2018 with total revenues' growth by 2% to EUR 30.8 billion. All main sectors - Health, Savings and Protection -, have seen positive results.
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GENERALI, 1Q2018: almost 9% y-o-y increase in the net profit
by Marina MAGNAVAL, 2018-05-10
Net profit of Assicurazioni GENERALI, one of the biggest European insures, increased by 8.6% to EUR 581 million (vs EUR 535 million a year before) after the first quarter 2018, said the insurer in its press release.
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MUNICH Re Q1 profit jumped by 48% y-o-y
by Marina MAGNAVAL, 2018-05-10
1Q2018 results of MUNICH Re show an achieved profit of EUR 827 million, more than 48% higher y-o-y (vs EUR 557 million) thanks to lower expenses and strong underwriting performance.
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SWISS Re reports Q1: GWP up by 13.1%
by Marina MAGNAVAL, 2018-05-10
SWISS Re announced Q1 result heavily impacted by changes in US GAAP accounting due to which the group's net income fell from USD 656 million to USD 457 million.
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ZURICH Q1 result: GWP in P&C rose 5%
by Marina MAGNAVAL, 2018-05-10
ZURICH 1Q2018 results show the development of all business lines. P&C GWP rose by 5% in USD terms. Overall the Group saw rate increases of around 2%, said the insurer's official statement.
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HANNOVER Re Q1 report - good start of the year, both in underwriting and profitability
by Marina MAGNAVAL, 2018-05-10
HANNOVER Re reported Q1 result with GWP significant y-o-y growth by 17.6% to EUR 5.3 billion (vs EUR 4.5 billion). Net income slightly increased to EUR 273.4 million (vs EUR 264.8 million).
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Aon's net profit doubled during Q1
by Vlad BOLDIJAR, 2018-05-10
Aon Group reported Q1 2018 net profit of USD 610 million, compared with USD 305 million a year before, according to a statement published on the company's website.
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April Cat report by Aon: losses of tens of millions in Europe and USD 2 billion in the US because of severe weather
by Daniela GHETU, 2018-05-10
Severe floods in Greece, Turkey, and Bulgaria in the beginning of April, as well as an outbreak of severe weather which hit Germany, France and Belgium in the end of the month, caused losses of tens of million USD, Aon catastrophe report for April shows.
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ALLIANZ Group sells 8.4% stake in Banco BPI to CaixaBank
by Vlad BOLDIJAR, 2018-05-10
ALLIANZ Group has agreed to sell shares representing 8.4% of the share capital of Banco BPI to CaixaBank. The total purchase price for this transaction is EUR 178 million or EUR 1.45 per Banco BPI share.
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TOKIO Marine Group receives regulatory approval for new EU insurance company
by Daniela GHETU, 2018-05-10
TOKIO Marine Holdings, Inc. announced it has received regulatory approval to set up a new insurance company in Luxembourg in order to continue insurance business in European Union (EU) countries post-Brexit.
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| TOP
EVENT |
FIAR 2018 starts on Sunday in Bucharest
by Adina TUDOR, 2018-05-10
The 21st edition of the International Insurance-Reinsurance Forum, taking place in Bucharest, Romania, between 13 and 16 of May, gathers re/insurance professionals, brokers, representatives of authorities, organizations and associations, as well as IT specialists, lawyers and consultants from all over the globe.
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| VIDEO INTERVIEW |
| INTERVIEW |
 Calin RANGU
Director
ASF Romania
by Daniela GHETU, 2018-05-10
We put special emphasis on operational risks' management in insurance companies. These risks are in fact those that affect consumers. Employees behavior, lack of processes or inaccurate processes, internal or external frauds, lack of business continuity, IT and cybercrime problems all relate to operational risks and must be managed preventively to protect consumers.
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| STATISTIC
UPDATES |
| ON
THE MOVE |
| PARTNER
EVENTS |
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
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| CURRENT
XPRIMM REPORTS |
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