XPRIMM News No. 412, 19 July, 2018

		Insurance Newsletter, No. 412, 19 July, 2018 Click here to subscribe! Click here to unsubscribe!

TOP NEWS POLAND: GENERALI received UOKiK's permission to buy the CONCORDIA units by Andrei Victor, 2018-07-16 UOKiK - the Polish Office of Competition and Consumer Protection has given its consent to GENERALI for taking over the full control of the Polish insurers CONCORDIA Capital (life insurance) and CONCORDIA Polska TUW (non-life insurance) from their German shareholders CONCORDIA Versicherung and Vereinigte Hagelversicherung. More STATISTICS: BiH, 1Q2018: MTPL business keeps the market on a positive trend by Daniela GHETU, 2018-07-19 Bosnian insurers reported aggregate 1Q2018 GWP of BAM 167.07 million (~EUR 85.4 million), up by 2.45% y-o-y, according to the most recent market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina. More STATISTICS: MACEDONIA, 1Q2018: MTPL provides for 38% of market GWP and generates half of the paid claims volume by Daniela GHETU, 2018-07-19 Macedonian insurers reported GWP worth EUR 38.4 million, 5.5% up y-o-y in 1Q2018, half of the market growth being owed to the MTPL insurance class and to the life insurance segment, which provided for about 40% of the premiums volume increase. More CO Group realised more than half of planned GWP & profit during Jan-May by Andrei Victor, 2018-07-16 CROATIA Osiguranje announced on the Zagreb Stock Exchange website that during the first five months of the year, the value of CO Group GWP increased by 8% y-o-y. More Hungary: less than 20% of Hungarians have an accident insurance policy by Daniela GHETU, 2018-07-18 Only 10-20% have an accident insurance, while in many countries of the Western Europe accident insurance coverage among their population is of more than 80%, The Budapest Business Journal reports. The low penetration leaves about 8 million Hungarians uninsured for the accident risk. More Продолжение Romania gets a Disaster Risk Management Development Policy Loan from the World Bank, with Cat DDO by Daniela GHETU, 2018-07-19 Romania will be next beneficiary of an instrument from the World Bank allowing the country's government to enhance its disaster risk financing support - the Catastrophe Deferred Drawdown Option (Cat DDO). The project is now underway as part of Building Disaster and Climate Resilience Program Project for Romania. More Latvia: SEB's three life insurance entities in the Baltics will merge in one company headquartered in Riga by Daniela GHETU, 2018-07-16 Skandinaviska Enskilda Banken AB (SEB) will merge its Baltic life insurance operations into one company, headquartered in Riga, reports The Baltic Course. Simplification of the operation model and improve services and solutions are the main reasons of the merger. More Register now at the Connected Claims Summit! XPRIMM readers benefit from a discount by Adina TUDOR, 2018-07-19 250 of insurance's most senior claims leaders and innovators will convene at the Park Plaza Victoria Hotel in London for Connected Claims Europe (29 - 30 October). The event is organized by Insurance Nexus and supported by XPRIMM Publications as Media Partner. More Lloyd's launches new digital distribution platform - Lloyd's Bridge by press.release, 2018-07-17 Lloyd's has launched a new digital distribution platform - Lloyd's Bridge - designed to quickly, easily and efficiently connect insurance businesses and entrepreneurs with Lloyd's underwriters. More AXA and XL Group announced the branding of their combined operations by Andrei Victor, 2018-07-16 AXA and XL Group have revealed the branding and structure of their future combined operations, to be known as AXA XL, following AXA's acquisition of XL Group on March 5th, 2018. More AXA Liabilities Managers acquires GOTHAER Re run-off portfolio by Andrei Victor, 2018-07-16 The specialist run-off acquirer and manager, AXA Liabilities Managers (AXA LM) announced closing the acquisition of the legacy assumed portfolio of Cologne-based GOTHAER Finanzholding A.G. More AZERBAIJAN: Compulsory Insurance Bureau summed up half year claims' results by Marina MAGNAVAL, 2018-07-17 Compulsory Insurance Bureau of Azerbaijan summed up half year results in terms of the total number of insurance events and paid claims, as informed on the official website of the Bureau. More Продолжение KAZAKHSTAN: compulsory insurance showed annual growth by 16% in the first 5 months by Marina MAGNAVAL, 2018-07-17 For the period January-May 2018 premiums of compulsory insurance in Kazakhstan saw annual growth by 16%, according to the service Energyprom.kz. More Продолжение KAZAKHSTAN: S&P improved rating of EURASIA by Marina MAGNAVAL, 2018-07-16 Credit rating service of the international rating agency S&P Global Ratings on July 11 improved the issuer rating under the national scale rating of the insurance company EURASIA from kzAA- to kzAA+ More Продолжение KYRGYZSTAN: State service for regulations and supervision - for 1Q insurance market increased by 20.6% by Marina MAGNAVAL, 2018-07-17 On July 12 the State service for regulations and supervision held a conference devoted to the activity results during the first half of the year and future perspectives, as the regulator informed on the official website. More Продолжение RUSSIA: RENAISSANCE Insurance makes bookbuilding up to RUB 4 billion by Marina MAGNAVAL, 2018-07-17 RENAISSANCE Insurance group is making bookbuilding in the total volume of RUB 4 billion* until July, according to Interfax. Organizers are BCS Global Markets and Sberbank CIB. More Продолжение RUSSIA: Fitch places VSK Insurance on Rating Watch Negative by Marina MAGNAVAL, 2018-07-16 Fitch Ratings has placed Russia-based VSK Insurance ratings, including Insurer Financial Strength (IFS) 'BB-' Rating, on Rating Watch Negative (RWN), said FITCH on July 12 in its statement. More Продолжение RUSSIA: National rating agency RAEX confirmed the rating of SOGAZ-Life at ruAAA by Marina MAGNAVAL, 2018-07-19 Russian credit rating agency RAEX (Expert RA) confirmed the rating of SOGAZ-Life at ruAAA, forecast stable, informed the insurance news agency ASN. More Продолжение INSURANCE & TECHNOLOGY Insurance Europe calls for a common pan-European legal framework on drones by Daniela GHETU, 2018-07-16 Insurance Europe calls upon the commission to provide a clear common framework on licensing, certification and authorization, classification by use and size on drones, at EU level, a recent paper published by the European federation of insurers says. More PRESS CUTTINGS Azerbaijan's Compulsory Insurance Bureau pays out over 300K manats Genagricola has invested in Romania targeting forests NN HUNGARY: One of our objectives is to renew all processes by the end of 2019 SLOVENIA: Insurers collected EUR 2bn in premiums last year, profit lower TURKEY: Carrier liability insurance made mandatory for freight forwarders UKRAINE's insurers raise premium collection by 20% UZBEKISTAN: License of major Uzbek insurance company suspended

MARKETS & TRENDS The Insurance Business in Transition to the Cyber-Physical Market by Daniela GHETU, 2018-07-19 What we generically call "Cyber risk" is, in fact, a family of risks and it is worth observing if there is a commonality in the perception - thus management - of the risk in the academic, risk management, insurance and policymaking communities. The present study found that cyber breach is perceived as "critical" due in part to its own nature and, importantly, in part to the weak understanding of its impact and our preparedness. More PwC: Five re/insurers listed in the Global Top 100 largest companies by market capitalization by Daniela GHETU, 2018-07-19 Five insurance entities are listed among the largest public companies by their market capitalization in USD as at 31 March 2018, according to the latest edition of the PwC's Global Top 100: the US domiciled Berkshire Hathaway, the Chinese Ping An Insurance, China Life Insurance and AIA Group and the German Allianz. More ON THE MOVE Munich Re's CFO Jorg SCHNEIDER to hand over to Christoph JURECKA at the end of the year by Daniela GHETU, 2018-07-17 Jorg Schneider, who turns 60 this year, will retire from the Munich Re Board of Management at his own request on 31 December 2018, after 18 years of service. Christoph JURECKA (43), CFO of ERGO Group AG since 2011, was appointed as his successor. More Pawel STOPCZYNSKI appointed as a new member in the TUW PZUW board by Daniela GHETU, 2018-07-17 The Supervisory Board of TUW PZUW decided to strengthen the company's Management Board by appointing Pawel STOPCZYNSKI as member, as of 27 June 2018. He will be responsible for the Compliance area, the Legal Area and the Board Office. More Maciej SZYSZKO is the new ERGO International AG's CEO for non-life business in Russia by Daniela GHETU, 2018-07-17 ERGO International AG has appointed Maciej SZYSZKO to be the new Chief Executive Officer for ERGO non-life business in Russia, thus separating the management of its two local units. The appointment is subject to official approval. More MARSH appoints Kevin RICHARDS as Global Head of Cyber Risk Consulting by Andrei Victor, 2018-07-16 The global insurance broker MARSH announced it has appointed Kevin RICHARDS to the newly created role of Global Head of Cyber Risk Consulting. More Vice-chairman of the ACHMEA Executive Board steps down by Andrei Victor, 2018-07-16 Dutch insurer ACHMEA announced that Roelof KONTERMAN, vice-chairman of the Executive Board (EB) will leave the company by the end of 2018. More STATISTIC UPDATES BiH 1Q2018 MACEDONIA 1Q2018 PARTNER EVENTS 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" IBF - INSURANCE BUSINESS FORUM 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 CURRENT XPRIMM REPORTS RUSSIA FY2017 Ins. Report CEE, SEE & CIS – FY2017 KAZAKHSTAN FY2016 & 1H2017 TURKEY FY2016 & 1H2017 ROMANIA FY2017 Motor Ins. Report FY2016 Property Ins. Report FY2016