XPRIMM News No. 428, 22 November, 2018

		Insurance Newsletter, No. 428, 22 November, 2018 Click here to subscribe! Click here to unsubscribe!

TOP NEWS GENERALI 2021 - the strategic lines of development of the Italian group unveiled today by Daniela GHETU, 2018-11-22 The Italian group GENERALI has announced today its strategic lines of development until 2021, built on three strategic pillars which include initiatives that will each contribute towards delivery of the Group's financial targets: Profitable growth; Capital Management and Financial Optimization; Innovation and Digital Transformation. More PZU Group, 3Q2018: the highest quarterly profit for 5 years and record GWP by Daniela GHETU, 2018-11-21 In Q3 2018 the PZU Group recorded the highest quarterly net profit in the last five years. At Group level, the net profit reached PLN 1.56 billion (EUR 366.75 million) in Q3 and increased by 34.6% y-o-y, to PLN 3.9 billion (EUR 916.9 million) for the first three quarters. More SAVA Re Group, 3Q2018: 39.2% growth in net profit and 8.1% growth in revenue by Daniela GHETU, 2018-11-22 In the first nine months of the year, the SAVA Re Group achieved high growth of 8.1% in its revenue of EUR 393.3 million. The income structure already reflects the benefits of the acquisitions finalized in 2018, which also include non-insurance activities. More STATISTICS: SLOVENIA, 3Q2018: Top 5 insurers account together for more than three quarters of the market GWP by Daniela GHETU, 2018-11-22 Slovenian insurers reported for 3Q2018 GWP worth EUR 1.78 billion, by 6.6% up y-o-y. Paid claims have increased by 4.8%, to EUR 1.15 billion. Life insurance, in particular the UL products line, have seen the highest growth rates. More BMW, Audi and Toyota the most popular brands among the car thieves in Latvia by Daniela GHETU, 2018-11-22 BMW, Audi and Toyota are the brands most targeted by the car thieves in Latvia, as well as seven to 12 years old automobiles, a representative of BALTA Insurance - member of the PZU Group, stated for the LETA news agency. More STATISTICS: Greece, 3Q2018: Non-Life pushed-up the quarterly figures by Andrei Victor, 2018-11-22 The Greek insurers reported aggregate GWP of EUR 2.87 billion at the end of September 2018, up by 2.1% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC). More STATISTICS: TURKEY, 3Q2018: double digit growth/decrease rates depending on the currency of denomination by Daniela GHETU, 2018-11-22 The Turkish insurance market ended 3Q2018 with GWP worth TRY 39.5 billion, 18.16% up y-o-y. Yet, the dramatic depreciation of the Turkish Lira against Euro has affected once again the market results denominated in European currency, translating them in a double digit negative change. More SCOR announces the creation of SCOR Europe se, its new P&C specialty insurance company for its clients in the European Union by Daniela GHETU, 2018-11-22 SCOR announced the creation of SCOR Europe SE, its new Paris-based P&C specialty insurance company, which has been approved by the French supervisory authority, the ACPR (Autorite de Controle Prudentiel et de Resolution). More UNIQA Group, 3Q2018: increasing GWP in both core markets and optimistic earnings outlook for 2018 by Daniela GHETU, 2018-11-22 In 3Q2018, UNIQA Insurance Group increased its recurring premiums written including the savings portion by 3.1%, while total group premiums remained stable at EUR 4,042.3 million. Earnings before taxes up 17.1% to EUR 212.4 million More Продолжение GENERALI launched GGP - the new global business unit dedicated to pensions by Andrei Victor, 2018-11-21 Italian financial group GENERALI has launched GENERALI Global Pension (GGP), a new business unit dedicated to pensions. GGP is headed by Anne de LANVERSIN. More Brexit: UK insurers are preparing for loss of passporting rights by Daniela GHETU, 2018-11-22 The majority of A.M. Best rated insurance groups affected by Brexit have either completed or initiated a transfer of their EEA business from their UK insurer to an affiliated EEA insurer, a briefing published by the rating agency says. More Brexit: TOKIO MARINE received the regulators approval to transfer the portfolio to Lux entity by Andrei Victor, 2018-11-21 TOKIO MARINE Group will transfer the existing portfolio of policies written out of Continental European operations to its newly established insurance company subsidiary, TOKIO MARINE Europe S.A. (TME), in preparation for the UK's exit from the European Union (EU). More AXA XL's reinsurance operation acquires all interests in New Ocean Capital Management by Andrei Victor, 2018-11-21 AXA XL's Reinsurance operation announced that it has acquired all third-party ownership interests in its majority-owned asset management affiliate, New Ocean Capital Management Limited. More STATISTICS: KYRGYZSTAN, 3Q2018: property insurance takes about 50% of GWP by Marina MAGNAVAL, 2018-11-22 For 9 months in 2018 GWP of Kyrgyz insurers amounted to KGS 638.96 million, according to the report of the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic. More Продолжение RUSSIA: replacement in kind in MTPL is below 15-20% by Marina MAGNAVAL, 2018-11-22 According to the Deputy executive director of the Russian Association of Motor Insurers (RAMI), Sergey EFREMOV, as of now the share of replacement in kind in MTPL is below 15-20%. More Продолжение RUSSIA: the national rating of VTB Insurance confirmed at ruAAA by Marina MAGNAVAL, 2018-11-22 The national agency Expert RA confirmed the rating of VTB Insurance at ruAAA with stable forecast followed 100% sale of VTB Insurance to SOGAZ in November 2018, ASN wrote. More Продолжение UKRAINE: 93.5 thousand of e-MTPL sold since e-policy launch this year by Marina MAGNAVAL, 2018-11-22 MTIBU (Motor Transport Insurance Bureau of Ukraine) announced 93,519 e-MTPL policies were sold in Ukraine since the launch of e-policies (on February 7, 2018) until November 12. Total GWP volume under e-policies amounted to UAH 66.4 million. More Продолжение UKRAINE: GWP of TAS from January to October went up by 38.5% y-o-y by Marina MAGNAVAL, 2018-11-22 TAS insurance group reported for the first 10 months of this year GWP worth UAH 1.14 billion (+ 38.5% y-o-y) and paid claims of UAH 436.83 million (+49.8% y-o-y), Forinsurer wrote. More Markets&Trends Global economic growth is solid but slowing, and emerging Asia will continue to power the insurance market, sigma says by Daniela GHETU, 2018-11-22 Global premiums are forecast to grow by around 3% annually in 2019 and 2020, mostly driven by the high growth rates in emerging Asia which may be as by three times more than the global average. The economic power shift from west to east will drive insurance sector development to 2020 and beyond. Expanding the boundaries of insurability for corporate intangible assets will be another main growth area for insurers More

INTERVIEW Zoran NARASANOV, CEO WINNER - Vienna Insurance Group, Macedonia by Daniela GHETU, 2018-11-22 Digitalization, as one's habit, need, and preference, was a big step forward for all of us this year, not only in digital sales, online travel insurance policies, online renewal of domestic MTPL, but in digital claims check in as well. The software solution, Winner, was developed to offer safer and more advanced, quick and easy access to the company's services to improve the customer experience. For being pioneers in implementing this software in Macedonia and accepting the challenge we got 2nd place in the VIG Exelerate program. More Sebastijan ZLEBNIK, CEO, CDA 40 by Mihaela CIRCU, 2018-11-22 Romania is a bigger market than Slovenia and is expected to grow. According to the information we received, there are also a lot of projects waiting to be launched and this gives us an optimistic outlook on the development of the business in Romania. The construction market also shows a positive trend in 2018. More On the move MARSH the formation of MARSH-JLT Specialty and its leadership by Andrei Victor, 2018-11-21 The global insurance broker MARSH announced the formation of MARSH-JLT Specialty - the new specialty business that combines the specialty teams of MARSH and JARDINE LLOYD THOMPSON Group (JLT) and will be headed by Dominic BURKE, currently CEO of JLT Group. More GANZI to replace McCann as Chairman of the WTW Board from 1 January 2019 by Andrei Victor, 2018-11-21 WILLIS TOWERS WATSON announced that Victor GANZI will replace James McCann as Chairman of the Board from 1 January 2019. McCann will continue to serve as a Director and as Chairman of the Nominating and Governance Committee, as the broker stated in a press release. More Lloyd's COO to leave the organisation by Andrei Victor, 2018-11-22 Lloyd's of London announced that its Chief Operating Officer, Shirine KHOURY-HAQ, has decided to leave the Corporation, after nearly five years. More STATISTIC UPDATES   SLOVENIA, 3Q2018   TURKEY, 3Q2018   KYRGYZSTAN, 3Q2018   GREECE, 3Q2018 PRESS CUTTINGS Agricultural insurance program to gradually expand coverage in Armenia KBC Group: Third-quarter result of 701 million euros NN Group reports 3Q18 results The Green Card System post-Brexit TURKEY: Govt to make building completion insurance mandatory for urban renewal works TURKEY: Insurance regulatory chief looks to technology to transform supervisory functions PARTNER EVENTS FinTech Connect 5 - 6 December 2018, Excel London, UK November Business Meetings (NBM) for Reinsurers 21-22 November 2018, Moscow, Russia IFRS 9 After Implementation In-House Training Date, venue & schedule - chosen by the applicants 10th Bancassurance Africa Summit 2019 12 - 15 February 2019 Cape Town, South Africa Insurance Mediation Awards 21 February 2019 Bucharest, Romania IIF 2019 - Actuarial Trends in the SEE Region 28 February 2019, Skopje, Macedonia Bancassurance Asia Masterclass 2019 21-22 November 2018, Moscow, Russia Georgian International Insurance Conference 14 - 15 March 2019, Tbilisi, Georgia CURRENT XPRIMM REPORTS Ins. Report CEE, SEE & CIS – 1H2018 KAZAKHSTAN FY2017 & 1H2018 TURKEY FY2017 & 1H2018 RUSSIA 1H2018 ROMANIA 1H2018 Motor Ins. Report FY2017 Property Ins. Report FY2017