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XPRIMM News No. 403, 17 May, 2018

Insurance Newsletter, No. 403, 17 May, 2018

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FIAR 2018

Insurance Market Trends Conference (I): We need regulated markets that focus on consumer interest and take into account consumer confidence and economic growth on the medium and long-term

Insurance Market Trends Conference (II): GDPR and IDD, European regulations affecting all business lines, as well as the compliance with the Solvency II framework, are the main challenges ahead for the Romanian market

INSURANCE IN A DIGITAL WORLD Conference: capacity, consistency and culture are the three key success factors in the digital transformation of insurers

Brokers' Conference (I): Until 1 July, when we will see the final version of the IDD, we cannot say for certain if we are ready and how ready we actually are

FIAR 2018: Brokers' Conference (II): digitization and technology are needed for efficient operations, but will not replace the human touch in consultancy

REINSURING NATCAT RISKS Conference (I): Over 98% of the PAID portfolio has the highest level of modelling data quality

REINSURING NATCAT RISKS Conference (II): Modern technology and accurate data are two of the prerequisites of good NatCat insurance

FIAR 2018: GDPR Workshop: GDPR should be seen as an opportunity for optimizing our business, not as a threat

FIAR 2018 - Motor Insurance Conference (I & II): with the right use of technoloogy, clients' expectations and MTPL insurer's profitability may go hand in hand

FIAR 2018 - Motor Insurance Conference (III): In a couple of years we will have a critical mass of connected cars and a real market for telematics in Romania

FIAR 2018: LIFE INSURANCE & PRIVATE PENSIONS: Funded pensions are vital for future retirees as public pension will be lower than before

trofeu_gppa4Swiss Re and AON Benfield are the big winners of the XPRIMM Reinsurance Awards, granted at FIAR 2018
by Cristian SUCA, 2018-05-15
The 21st edition of the International Insurance-Reinsurance Forum was officially opened on Monday night, with the XPRIMM Reinsurance Awards.

CIS Region, FY2017: claims dropped by 6.83%
by Marina MAGNAVAL, 2018-05-17
The CIS insurance business in general had a good year and finished 2017 with an average claims' decrease by 6.83% to EUR 8.45 billion. Aggregate GWP almost had no change, only a very slight decline by 0.22%.

GENERALI CEE is negotiating the acquisition of ADRIATIC Slovenica
by Daniela GHETU, 2018-05-17
On 11 May 2018, GENERALI CEE Holding and KD Group entered into an agreement on exclusivity in connection with negotiations for acquisition of 100% ownership interest in ADRIATIC Slovenica, the Italian insurance group has announced.

ALLIANZ 1Q results are on track to meet FY 2018 targets
by Vlad BOLDIJAR, 2018-05-17
German insurance group ALLIANZ announced its 1Q 2018 operating profit was down 6.0% to EUR 2.8 billion. "The main drivers for the decrease were EUR 142 million currency translations and EUR 148 million benefit in the prior year related to our corporate pension administration".

TALANX reconfirmed its FY2018 outlook for the Group's net income
by Vlad BOLDIJAR, 2018-05-17
Hannover-based TALANX Group announced its Q1 GWP was up to EUR 10.6 billion, 8.3% up y-o-y, while the Group net income dropped by 8.4%, to EUR 218 million "mainly as a result of the one-off effect of the US tax reform as well as the higher share of profits attributable to minorities".

Russia: further changes in MTPL, aiming to market liberalization
by Marina MAGNAVAL, 2018-05-17
On April 28, 2017 the Law on MTPL was amended in part of replacement in kind instead of payment of compensation. The expected effect was not obtained, the share of replacement in kind haven't reached yet even 50%, however, insurers noted certain decrease of fraud activity.
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Russia: during Q1 GWP growth of VTB Life Insurance amounted to 67%
by Marina MAGNAVAL, 2018-05-17
Based on the company's report GWP growth for the Q1 was 67.7% and amounted to RUB 5.2 billion (vs RUB 3.1 billion for the same period in 2017).
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Azeri market is planning to revise MTPL tariffs and segmentation
by Marina MAGNAVAL, 2018-05-17
The market needs revision of MTPL tariffs and it means not only increase, but also differentiation according to the country regions, believes Mustafa ABBASBEYLI, Chairman of the Azerbaijan Insurers Association (AIA).
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Armenia: insurance market grew by 47.6% after Q1
by Marina MAGNAVAL, 2018-05-17
During the first 3 months Armenian market generated AMD 14.1 billion of premiums, which is 47.6% more than e year before, paid claims amounted to AMD 5.7 billion (+36.9%), according to ArmInfo agency.
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UZBEKISTAN: the government considers reforms of the insurance market
by Marina MAGNAVAL, 2018-05-17
The Ministry of Finance of Uzbekistan brought up for discussion the Resolution of the President "On measures for reformation and accelerated development of the insurance market of Uzbekistan", - as informed by UzReport agency.
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UZBEKISTAN: 32.5 thousand units more MTPL contracts in Q1 2018 vs Q1 2017
by Marina MAGNAVAL, 2018-05-17
During Q1 of 2018 in Uzbek MTPL segment total number of contracts amounted to 611.7 thousand units (32.5 thousand contracts more than a year before). Among 11 authorized segment insurers TOP-3 have 58.6% segment share: UZAGROSUG'URTA, KAFOLAT and GROSS INSURANCE.
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The latest XPRIMM Insurance Report and two other XPRIMM Publications, launched at FIAR 2018
by Adina TUDOR, 2018-05-11
The specialists participating at FIAR 2018 are among the first readers of the 3 newest XPRIMM Publications, officially launched during the event: XPRIMM Insurance Report - FY2017, XPRIMM Insurance Profile Romania and PRIMM Magazine - Insurance&Pensions.


mattiVIDEO INTERVIEW: Matti LEPPALA Secretary General and CEO PensionsEurope Chair of OPSG, EIOPA

Demographic change is challenging for all European countries. It will be a very huge challenge for the public finances and for the public pensions to adapt and survive this change. Saving for retirement becomes a very important necessity for EU


CIS Region, FY2017


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


Ins. Report CEE, SEE & CIS – FY2017
KAZAKHSTAN FY2016 & 1H2017
TURKEY FY2016 & 1H2017
Motor Ins. Report FY2016
Property Ins. Report FY2016

METLIFE names Bill O'Donnell as U.S. Chief Financial Officer

AIG Names Mark D. Lyons as Senior Vice President & Chief Actuary, General Insurance

Allianz stops insuring coal-fired power plants and coal mines

AZERBAIJAN Insurers Association to create new committee

BOSNIA: Sarajevo Osiguranje boosts net profit in 2017

BULGARIA bans Cyprus-based insurer Olympic's branch from signing new deals

BULGARIA: UNIQA's premium income rises 31.5% y/y in Feb

CROATIA's Adris gets regulatory approval for HUP-Zagreb buyout

CROATIA: Insurance maintains growth

CROATIAN insurers Jan-April premiums rise 9.27%

GREECE: CEO of Ethniki owner National Bank of Greece steps down

KBC Group: First-quarter result of 556 million euros

LATVIA: Loss from mandatory insurance shrinks to EUR 120,000 in Q1

NN Group reports 1Q18 results

SERBIA: Dunav Osiguranje to pay higher dividend for 2017

The leaders of the Lithuanian insurance market turned out

TURKEY: New quake maps will affect insurance tariffs

TURKMENISTAN: The government has banned all color cars except for one