XPRIMM News No. 429, 29 November, 2018

		Insurance Newsletter, No. 429, 29 November, 2018 Click here to subscribe! Click here to unsubscribe!

TOP NEWS VIG's underwritings up by 2.9% in Q3; year end targets confirmed by Mihaela CIRCU, 2018-11-28 Vienna Insurance Group (VIG) continued its stable upward trend in 3Q 2018, achieving a further improvement in key figures. Given the positive development, VIG disclosed for the year end a GWP EUR 9.5 billion target and a result before taxed expected figure of EUR 450 - 470 million. More STATISTICS: LITHUANIA, 3Q: Insurers' GWP increased by EUR 75 million, fueled especially by the two motor classes by Andrei Victor, 2018-11-29 Lithuania's insurance market increased by almost 13% y-o-y totaling EUR 655 million at the end of September 2018, according to the Lietuvos bankas's 3Q figures. More Romanian MTPL's market stabilization pushes the EIG's business down by 10% by Andrei Victor, 2018-11-26 The Bulgarian holding EROHOLD said its 3Q2018 revenues from insurance activity amounted to BGN 667.3 million (EUR 342 million). Compared to the same period in 2017, the revenues from insurance activity decreased by 6.6%. More VIG's reinsurance business expands its international footprint by opening a branch in Paris by Daniela GHETU, 2018-11-26 VIG Re opens its second branch, in Paris, in November 2018. This marks the next step in the planned expansion of the Vienna Insurance Group's (VIG) reinsurance company in the West European market. More CROATIA osiguranje, best insurer in 2018 according to the Croatian Chamber of Economy by Daniela GHETU, 2018-11-29 CROATIA osiguranje is the 2018 winner of the "Zlatna Kuna" award in the insurance industry, a recognition of the relevant role played by the company in the local financial market, presented by the Croatian Chamber of Economy. More The CEE real estate market - increasing demand for title insurance by Daniela GHETU, 2018-11-29 "Fifteen years after its introduction, title insurance continues to play a growing role in the CEE real estate market," Jean-Bernard WURM, Co-Founder & Managing Director of Secure Legal Title, London said talking to Property Forum about the trends in the CEE region's real estate sector. More ALLIANZ receives CBIRC approval to establish the China's first fully-owned foreign insurance holding company by Andrei Victor, 2018-11-26 ALLIANZ announced that it has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) for the preparatory establishment of an insurance holding company in China. More Zurich Insurance, Reinsurer of the Year at the 5th Middle East Insurance Industry Awards by Daniela GHETU, 2018-11-29 The 5th Middle East Insurance Industry Awards (MIIA) gala dinner held in Dubai on 26 November saw Zurich Insurance winning for the second consecutive year the Reinsurance Company of the Year award. More AXA's new division, AXA XL, adopts the Group's sustainability and climate strategy by Daniela GHETU, 2018-11-28 AXA announced that it will involve also AXA XL, its new division created after the XL acquisition, in the Group's sustainability and climate strategy, in an effort that might cost up to EUR 100 million in GWP, as well as EUR 660 million in divestment related to AXA's investment exclusions policy. More Free Webinar: UBER, Zurich, Direct Line Group on transforming innovative insurance product ideas into reality by Adina TUDOR, 2018-11-26 The innovation race is on in insurance, to deliver relevant product and services for the modern customer. Join UBER, Zurich, Direct Line Group in an investigation on what products must look like, and in a practical sense, how insurers are going out to achieve this. More STATISTICS: BELARUS, 3Q2018: paid claims amounted to almost half of the total market GWP by Marina MAGNAVAL, 2018-11-29 Insurers of Belarus for 3 quarters in 2018 generated GWP in the amount of BYN 906.62 million (EUR 369.49 million). The market growth in local currency reached 16.1% and in euro the growth was less impressive - by 9.49% only. More Продолжение RUSSIA: the XVII Annual November Business Meetings for Reinsurers took place on November 21-22, 2018 in Moscow by Marina MAGNAVAL, 2018-11-29 The XVII Annual November Business Meetings (NBM) for Reinsurers took place on November 21-22, 2018 in Moscow in the Modern Business Center located in the historic building in the very center of Moscow, according to the post release of the Delovoy Format Group. More Продолжение AZERBAIJAN: MTPL reaches its peak, and life insurance may become the next market leader by Marina MAGNAVAL, 2018-11-29 According to the Chairman of the Azerbaijan Insurers Association (AIA) Mustafa ABBASBAYLI, MTPL on the Azeri insurance market is reaching its peak, Trend News Agency informed. More Продолжение QALA Insurance has announced ambitious plans for 2019 by Daniela GHETU, 2018-11-29 Azerbaijani QALA Insurance plans to collect AZN 16 million in premiums by the end of 2018, which would mean a 54.1% y-o-y growth, Deputy Chairman of the company Taleh YUSIFOV said recently, quoted by Trend. More STATISTICS: MOLDOVA, 3Q2018: motor insurance keeps more than 70% of the market by Marina MAGNAVAL, 2018-11-29 Insurance market of Moldova as of the end of September went up by 2.27% y-o-y. At that, thanks to the favorable exchange rate evolution against euro, the market growth in European currency amounted to 7.36% (GWP of EUR 55.27 million). More Продолжение KAZAKHSTAN: Swiss Re is expanding its presence in Kazakhstan based on agro insurance by Marina MAGNAVAL, 2018-11-29 Swiss Re is ready to extend its presence in Kazakhstan, according to the agro insurance underwriter of Swiss Re for Eastern Europe, Russia, Ukraine and Kazakhstan, Marcel ANDRIESSE (Senior underwriting Agriculture). More Продолжение RUSSIA: total volume of lost crops in 2018 amounted to 1.2 million hectares with insured crops of 625 thousand hectares by Marina MAGNAVAL, 2018-11-28 Claims paid to farmers in 1H2018 reached RUB 706 million, while only 625 thousand hectares out of the total volume of 1.2 million hectares affected by natural disasters were covered by insurance, informed Korney BIJDOV at the annual forum "Insurance business during the era of changes", on October 30, 2018 in Moscow. More Продолжение UKRAINE: GWP of UNIQA group for 9 months went up by 27% y-o-y by Marina MAGNAVAL, 2018-11-29 UNIQA Group's Ukrainian subsidiaries, UNIQA and UNIQA Life, generated GWP in the amount of UAH 2 billion (~EUR 60.37 million) in 3Q2018, which is 27.1% more y-o-y, as Forinsurer informed. More Продолжение UKRAINE: for 9 months in 2018 insurance reserves went up by 15% y-o-y by Marina MAGNAVAL, 2018-11-29 Insurance reserves of Ukrainian insurers as of the end of September amounted to UAH 24.8 billion (+15% y-o-y; ~EUR 748.6 million), according to the member of the National financial services committee of Ukraine, Alexander ZALETOV. More Продолжение UKRAINE: GWP of UNIQA group for 9 months went up by 27% y-o-y by Marina MAGNAVAL, 2018-11-29 UNIQA Group's Ukrainian subsidiaries, UNIQA and UNIQA Life, generated GWP in the amount of UAH 2 billion (~EUR 60.37 million) in 3Q2018, which is 27.1% more y-o-y, as Forinsurer informed. More Продолжение

INTERVIEW Martin Divis, CEO, Kooperativa pojisovna, a.s., Vienna Insurance Group by Daniela GHETU, 2018-11-26 This year, the Czech insurance market has been highly influenced by new legislation. It is not easy to cope with all the changes. It is a challenge, but also a chance to improve what works and to change what does not work well so that our obligations and requirements favour the customers, make insurance products more accessible, and we can improve the understandability of every deal. Better customer protection is a priority for me, but I suppose that overregulation by the EU in any field, even though well-meant, can bring about just the opposite. It creates a stressful environment which drains resources and hinders creativity and innovation. More On the move Oliver BAETE reconfirmed ALLIANZ's Chairman of the Board for another five years term, until 2024 by Andrei Victor, 2018-11-26 The Supervisory Board of ALLIANZ SE extended Oliver BAETE's contract as Chairman of the Board of Management until September 2024. The original contract was to expire end of September 2019. More Jacek JASTRZEBSKI is the new Chairman of the Polish Financial Supervision Authority by Daniela GHETU, 2018-11-28 KNF- the Polish Financial Supervision Authority has announced the appointment of Jacek JASTRZEBSKI as Chairman of the market regulator, replacing Marek CHRZANOWSKI who resigned amid corruption allegations. More STATISTIC UPDATES   LITHUANIA, 3Q2018   MOLDOVA, 3Q2018   BELARUS, 3Q2018 PRESS CUTTINGS Armenian insurance companies post 77% drop in net profit Albanian insurers Jan-Oct gross written premiums up 5.1% Bulgaria's Lev Ins planning to offer MTPL insurance in Poland Bulgarian insurer Lev Ins planning to offer services in Norway Bulstrad VIG winning tender bid challenged by Bulgaria's OZK Insurance Croatian insurers' Jan-Oct premiums rise 9.5% y/y Kazakh National Bank announces tender for vehicle insurance Turkey:Agents' body calls for customised medical insurance pricing Turkish municipality announces tender for compulsory insurance of vehicles Uzbekistan's insurance firms collect almost twice more premiums 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 Romanian Insurance Market Awards Gala 3 April 2019 Bucharest, Romania IIF 2019 - MOTOR Insurance Conference 8 April 2019 Bristol Hotel, Vienna, Austria IIF 2019 - Property Conference 9 April 2019 Bristol Hotel, Vienna, Austria European Consumer Protection Conference 17 May 2019 Intercontinental Hotel, Bucharest, Romania 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