XPRIMM News No. 416, 30 August, 2018

Vienna Insurance Group right on track in the first half of 2018
by Daniela GHETU, 2018-08-30
Vienna Insurance Group recorded a 3.6% y-o-y GWP growth, to EUR 5.2 billion in 1H2018, while the result (before taxes) went up by +5.5%, to around EUR 233 million, in spite of impairment in Romania.
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PZU Group, 1H2018: consolidated net profit up 38.3% y-o-y
by Daniela GHETU, 2018-08-30
The Polish PZU Group ended 1H 2018 with GWP increasing by 2.4%, to PLN 11.8 billion (EUR 2.7 billion), while paid claims went up by 1.8%, to PLN 7.34 billion. The Group's consolidated net profit reached PLN 2,358 million, 38.3% up y-o-y.
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A.M. Best affirms credit ratings of Polskie Towarzystwo Reasekuracji S.A.
by press.release, 2018-08-27
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Polskie Towarzystwo Reasekuracji S.A. (POLISH Re) (Poland). The outlook of these Credit Ratings (ratings) remains stable.
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KAZAKHSTAN: for 7 months 2018 premiums of Motor Hull went up by 22.3%
by Marina MAGNAVAL, 2018-08-28
For 7 months this year Motor Hull premiums of local insurers went up by 22.3% y-o-y, to KZT 11.3 billion*, according to the National Bank of Kazakhstan. Paid claims of the class slightly decreased by 4% to KZT 3.3 billion.
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KAZAKHSTAN: voluntary property insurance decreased by 2% y-o-y
by Marina MAGNAVAL, 2018-08-28
Premiums of local insurers in voluntary property insurance went down y-o-y by 2%, at that paid claims of the class jumped almost 3 times higher, according to the data of the analytical service Ranking.kz.
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KAZAKHSTAN: For the period of January to July insurer profit jumped by 45.8%
by Marina MAGNAVAL, 2018-08-30
Income from insurance activity between January-July increased by 4.3% y-o-y and amounted to KZT 160 billion*. Although positive, the market dynamic recorded so far this year is less impressive than the last years' one (12.8%), the allinsurance.kz portal reads.
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KAZAKHSTAN: EURASIA will participate in the construction project of world's highest statue
by Marina MAGNAVAL, 2018-08-30
India is developing a construction project for the highest statue in the world, the total cost of which is over USD 500 million. The leading insurer of Kazakhstan, EURASIA, will participate by insuring the project, announced allinsurance.kz portal.
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RUSSIA: Credit health insurance for the first half of the year amounted to 19% of all life premiums
by Marina MAGNAVAL, 2018-08-30
The GWP of credit health insurance in the first half of 2018 amounted to RUB 42 billion (~EUR 0.57 billion), which accounts for 19% of all life insurance premiums. Of that amount, about RUB 10 billion (~EUR 0.14 billion) were generated by accident and illness insurance, reported ASN portal.
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RUSSIA: The Federal Tax Service will soon have the right to freeze accounts of entrepreneurs for not submitting tax calculations on insurance premiums
by Marina MAGNAVAL, 2018-08-30
The Federal Tax Service (FTS) of Russia, will soon have the right to freeze the accounts of entrepreneurs who fail to submit tax calculations on insurance premiums. The new law comes into force on August 30, as stated by FTS.
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RUSSIA: first institute of pre-trial settlement to be established on the financial market
by Marina MAGNAVAL, 2018-08-30
The Central Bank of Russia has appointed the first financial ombudsman for pre-trial settlement of financial disputes - Ilya VORONIN, the advisor to the Head of the Central Bank Elvira NABIULLINA, said the First Deputy Chairman of the Central Bank Sergey SHVETSOV.
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ALLIANZ Partners establishes three new innovation centers
by Daniela GHETU, 2018-08-30
Following the success of its pioneering Automotive Innovation Center, launched in 2014, ALLIANZ Partners further embraces technological disruption and redefines insurance by establishing three new innovation centers focusing on travel, health and assistance.
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SCOR global life partners with Human Longevity Inc. to bring data-driven health intelligence to life insurance policyholders
by press.release, 2018-08-30
HLI delivers individual health assessments by combining state-of-the-art DNA sequencing and expert analysis with machine learning. The company generates a personal health risk profile, combining insights from various tests, including full genome sequencing, full body MRI, blood samples, EKG, etc., with an overlay of tests correlated to genetic predisposition to assess "actual" risk.
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Dr. Eng. Carlo TOZZI SPADONI Co-founder, Insurance Engineering Services
by Daniela GHETU, 2018-08-30
In the insurer – customer relationship, loss adjustors are a very sensitive connecting link – they must act quickly and accurately, in a difficult moment, to provide a fair compensation solution and quite often, assist customers to limit post-event losses. From a broader perspective, loss adjustors are the most direct observers of the impact different risks or their accumulation have upon the insured structures, which makes them in many respects the most valuable advisors. Considering the complex role that a good loss adjustor can play, we spoke about recent trends in weather-related losses with …
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ICAR 2018 - The International CAtastrophic Risks Forum
09 October 2018, Bucharest, Romania