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XPRIMM News No. 411, 11 July, 2018

Insurance Newsletter, No. 411, 11 July, 2018

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STATISTICS: ROMANIA, 1Q2018: life insurance business slightly slowing down after the outstanding 2017
by Daniela GHETU, 2018-07-10
Romanian insurers ended Q1 with GWP worth RON 2.53 billion (EUR 543.2 million), 1.45% less y-o-y. Gross paid claims amounted to RON 1.23 billion (EUR 264 million). Out of the 30 active players, Top 10 insurers accounted for about 89% of the market GWP.
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STATISTICS: SLOVAKIA, 1Q2018: non-life insurance has set the market trend, both in GWP and claims terms
by Daniela GHETU, 2018-07-11
Slovak insurance market saw a slightly positive trend in Q1, with GWP increasing overall by 1.42%, to EUR 577.6 million, an increase fully driven by the non-life insurance segment. The total volume of paid claims didn't change much y-o-y, increasing by less than 1%.

Losses exceeding EUR 5 million after the June hailstorm said SAVA Re
by Andrei Victor, 2018-07-09
Slovenian re/insurer SAVA said the first estimates after the storm that hit South-Eastern region of the country on 8 June 2018 showed the aggregate losses will exceed EUR 5 million.
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BULGARIA: The leasing arm of ARMEEC to acquire ERB Leasing
by Andrei Victor, 2018-07-09
Bulgaria's ARMEEC Leasing, part of local insurer ARMEEC, intends to acquire the Bulgarian unit of ERB Leasing, part of Greece's Eurobank group.

ACHMEA increases provision for PZU tax case after Dutch court ruling
by Andrei Victor, 2018-07-09
The Dutch insurer ACHMEA said it has increased its provision for the fiscal settlement in The Netherlands regarding the compensation received for the divestment of its shareholding in the Polish insurer PZU by EUR 35 million to a total of EUR 233 million.
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Deutsche Ruck grows and strengthens its assets
by Daniela GHETU, 2018-07-11
The Deutsche Ruck Group's gross premium income rose by 2.3% to EUR 1.2 billion in 2017. As well as a slight improvement in the operating result before tax, the Group once again achieved good investment income.

JLT Re partners with CyberCube, building a strong partnership in cyber risk modelling
by Daniela GHETU, 2018-07-10
JLT Re, the global provider of reinsurance broking and consultancy, is pleased to announce its partnership with CyberCube, a best in class, industry recognized cyber risk modelling platform. Thru this partnership JLT Re will help clients manage the evolving nature of cyber risk.
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FITCH expects run-off deals in in the German life insurance market to increase
by Daniela GHETU, 2018-07-06
The announcement of the GENERALI - VIRIDIUM transaction, the largest run-off deal in Germany to date, covering traditional-business reserves of about EUR 37 billion, reinforced FITCH's expectation that disposal of closed funds will be a growing theme in the German life insurance market, the agency said.

Swiss Re Capital Markets structures and places USD 350 million catastrophe bond for Frontline Insurance
by press.release, 2018-07-10
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 350 million of ILS by Frontline Re Ltd on behalf of Frontline Insurance ("Frontline"). The transaction is Frontline's debut catastrophe bond and covers named storms in Alabama, Florida, North Carolina and South Carolina.

AEGON and SANTANDER to expand successful partnership in Spain
by Andrei Victor, 2018-07-09
The Dutch insurance group AEGON announced that it has signed an agreement to expand its partnership with BANCO SANTANDER in Spain.
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BELARUS: 5 months' result demonstrated 16.6% market growth
by Marina MAGNAVAL, 2018-07-09
Belarusian insurance market bottom-lined 5 months' result show this year GWP amounted to BYN 508.8 million* and the growth rate, compared to the same period last year, amounted to 16.6%, informed the Ministry of Finance of the Republic on its official website.
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KAZAKHSTAN: new law is targeted at protection of interests of citizens and insurance market development
by Marina MAGNAVAL, 2018-07-09
New law, signed in Kazakhstan, will let customers conclude insurance agreements via internet as well as apply to the insurance ombudsman in cases of disagreement with indemnities of any insurance types, wrote Interfax-Kazakhstan.
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RUSSIA: in the first quarter inward reinsurance market increased by 24%
by Marina MAGNAVAL, 2018-07-10
In Q1 2018, Russian inward reinsurance market saw positive dynamics (+24%). According to experts, the growth in the absence of RNRC could amount to 16%, shows the Analytical report on reinsurance market evolution in Russia in January-March 2018 recently published by RNRC - the Russian National Reinsurance Company.
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RUSSIA: mortgage insurance is leading online sales of SBERBANK Insurance
by Marina MAGNAVAL, 2018-07-09
During the 1st six months of this year mortgage insurance has been the leading insurance product of online sales of SBERBANK Insurance (its share amounted to 54% of total insurer's online sales), announced the insurer in its press release.
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RUSSIA: RAEX national rating agency confirmed rating of ERGO at ruAA+, stable forecast
by Marina MAGNAVAL, 2018-07-09
National rating agency RAEX (Expert RA) confirmed rating of ERGO, an insurer included into TOP-30 based on 2017 result, at ruAA+, stable forecast, informed the portal ASN.
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RUSSIA: the oldest insurer is close to its 100-years' anniversary
by Marina MAGNAVAL, 2018-07-10
ROSGOSSTRAKH, the oldest local insurer, is close to its 100-years' anniversary and is preparing plans for the next 100 years, said Nikolaus HEINRICH FRY, the General Director of the company.
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MUNICH Re: Fewer severe natural disasters in the first half of the year; overall losses below the average
by team, 2018-07-11
Natural disasters across the world caused significantly lower losses in 1H 2018 than usual. According to provisional figures, overall losses were around USD 33 billion, the lowest level since 2005 (USD 29 billion after adjustment for inflation), MUNICH Re said today.

Hail and windstorms cause multi-billion global economic loss in June; draught may be this summer's nightmare for European farmers
by Daniela GHETU, 2018-07-11
Overall, extreme weather events led to a multi-billion dollar economic toll, of which insurers have to pay more than USD 3 billion in claims for US losses alone, the latest edition of Aon's monthly Global Catastrophe Recap report shows. Economic losses in the Central and South-Eastern Europe amounted some hundred million USD, but weather continued also in July, adding extra costs which may also amount to significant sums.

Flood resilience alliance in five-year extension will focus on USD 1 billion increase in investments

Dunav Osiguranje's share of Serbian insurers' premium income rises in Q1 - table

HUNGARY: June storms cause HUF 1 bln of damage

Talanx further expands sustainability agenda

Turkey:Agencies generate 64% of non-life business

20 years with XPRIMM

by team, 2018-07-10
Our journey alongside the CEE, SEE and CIS insurance markets has reached the 20th milestone.In 20 years we made every effort to become a reliable source of information, a familiar presence wherever something important happens in the re/insurance world.


IIS Global Insurance Forum 2018 / Day1: The innovation transformation of insurance
by Oleg DORONCEANU, 2018-07-09
We have gathered the representatives of all stakeholders in the insurance industry from more than 50 countries to enhance?exchanging?ideas?and offer solutions to international community about new technologies and to share?knowledge, stated Mike MORRISSEY, President and CEO, International Insurance Society at the annual edition of the Global Insurance Forum.

LIVE: IIS Global Insurance Forum 2018 / Day2
by Oleg DORONCEANU, 2018-07-10
The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

Berlin: LeapFrog CEO, awarded insurance industry gold medal, calls for industry to reach 4 billion under-served consumers by 2030
by press.release, 2018-07-11
Dr. Andy Kuper, founder and CEO of LeapFrog Investments, has received the 2018 Founder's Award and Gold Medal from the International Insurance Society for his pioneering work. He was honoured for LeapFrog companies reaching 130 million people in a decade.

International Insurance Society to open new offices in London and Singapore
by Oleg DORONCEANU, 2018-07-10
International Insurance Society (IIS) will open two regional offices till the end of this year -in London?and?Singapore,?to expand its global footprint, has announced President & CEO?of the IIS, Mike MORRISEY at this year's?Global Insurance Forum in Berlin.
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9th Bancassurance Asia Summit 2018
14 - 17 august 2018 Bangkok, Thailanda
4th Annual Conference Insurance in a Digital Future
13 September 2018, Ljubljana - Slovenia
Les Rendez-Vous de Septembre
8-13 September, 2018, Monte-Carlo
2nd Edition IFRS 17 Implementation in Life Insurance
13-14 September 2018, London, United Kingdom
XVIII International Finance Forum
12-15 September 2018, Odessa, Ukraine
Insurance Product Development Masterclass 2018
18-20 September 2018, Johannesburg, South Africa
Operational & Process Excellence (OPEX Central Europe) Summit 2018
19 - 21 September 2018, Prague, Czech Republic
1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation"
September 20-21, 2018, Sheraton Palace Hotel, Moscow, Russian Federationze="1"
24-28 September 2018, Swissotel Kamelia, Sochi, Russia
Insurance Conference - Republic of Moldova
2 October 2018, Radisson Blu Leogrand Hotel
ICAR 2018 - The International CAtastrophic Risks Forum
09 October 2018, Bucharest, Romania


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