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XPRIMM News No. 457, 27 June, 2019

Insurance Newsletter, No. 457, 27 June, 2019

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STATISTICS: Update 1Q2019, CZECH REP.: Insurance market compressed by 4% y-o-y, CNB reports
by Andrei Victor, 2019-06-27
According to the most recent figures available on the CNB website (Czech National Bank), the local insurance industry totaled about CZK 41.8 billion (~EUR 1.6 billion) at the end of March 2019, down by 4.2% y-o-y.
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GALLAGHER expands into CEE acquiring minority stake in Czech insurance broker RENOMIA
by Andrei Victor, 2019-06-26
Global insurance broker GALLAGHER has expanded its presence in CEE Region acquiring minority stake (29.7%) in Czech-based insurance broker RENOMIA for an undisclosed sum. The transaction is subject to regulatory approval and is expected to close in the third quarter 2019.

ESTONIA: 13,000 property insurance events annually
by Cosmin CONCEATU, 2019-06-27
According to The Estonian Insurance Association (EKsL), 13,000 property claims arise over the course of an average year in Estonia. Of this number, about 11,000 are home insurance claims. Insurance companies in Estonia pay around EUR 28 million every year for property claims.

STATISTICS: HUNGARY, 1Q2019: Market profitability remained almost unchanged
by Andrei Victor, 2019-06-27
25 Hungarian insurers reported 1Q2019 aggregate GWP up by 14.8% y-o-y to HUF 316.4 billion (EUR 986 million), according to the quarterly market data published by the National Bank of Hungary (MNB). Life insurance GWP increased by 11.2% to HUF 132 billion (EUR 411 million), while non-life GWP increased by 17.5% to HUF 185 billion (EUR 575 million), as the MNB figures reveal.
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LITHUANIA: P2P platform to be tested in the regulatory sandbox
by Andrei Victor, 2019-06-24
UAB Workpower has become the first company allowed by the Board of the Bank of Lithuania to enter the Bank of Lithuania's regulatory sandbox and test a peer-to-peer (P2P) insurance platform.

POLAND: Motor accidents caused by Poles abroad increased 15.3% in 2018
by Cosmin CONCEATU, 2019-06-27
The Polish Motor Insurers Bureau (PBUK) counted over 75,200 motor accidents abroad caused by vehicles with Polish registration plates for 2018. This means over 200 accidents abroad every day in 2018.

STATISTICS: SLOVENIA, Q1: Two regional players, TRIGLAV and SAVA control almost half of market
by Andrei Victor, 2019-06-27
The GWP value of Slovenian insurers totaled EUR 672.7 million in the first quarter of 2019, a 4.6% increase y-o-y, according to the Slovenian Insurance Association's most recent report. Non-life insurance made up 72.2% of total GWP, while the share of life insurance premiums was 27.8%.
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SLOVENIA: NLB privatisation process successfully completed
by press.release, 2019-06-27
On 19 June 2019, Slovenian Sovereign Holding (SDH) successfully completed the privatisation process of Nova Ljubljanska banka, d. d. (NLB). The Republic of Slovenia will remain the largest shareholder of NLB, with a 25% stake plus 1 share.

Acceleration of public-private collaboration is needed to close the protection gap
by press.release, 2019-06-24
At the IDF Day held last week in Singapore during the annual Global Insurance Forum hosted by the International Insurance Society (IIS), the Insurance Development Forum (IDF) called to accelerate public-private collaboration and action in order to close the protection gap that leaves Emerging Asian countries most vulnerable to natural catastrophes.

Banco Santander to acquire 60% stake in ALLIANZ Popular SL
by Cosmin CONCEATU, 2019-06-27
ALLIANZ Group and Banco Santander settled an agreement for Banco Santander to buy a 60% stake in Allianz Popular SL, and terminate the exclusive non-life distribution agreement with ALLIANZ's operating entity in Spain.

Efma and Accenture awarded AXA Germany, CCS, NISSAY, PZU and ZURICH for innovation
by press.release, 2019-06-25
Efma and Accenture announced the winners of the 4th Innovation in Insurance Awards. The companies rewarded this year for their innovative solutions were AXA Germany, CCS, NISSAY, PZU and Zurich.

AZERBAIJAN: January-April 66% of market GWP collected by voluntary insurance
by Marina MAGNAVAL, 2019-06-27
Total market GWP from January-April 2019 amounted to AZN 265.3 million (~EUR 139.12 million), while total paid claims reached AZN 66.7 million, Trend reports with reference to the Financial Market Supervisory Authority (FIMSA).
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BELARUS: significant changes expected in the insurance sector from September 1
by Marina MAGNAVAL, 2019-06-27
Presidential Decree #175 "On insurance" d/d May 11, 2019 calls for a number of significant changes for the insurance market from September 1, 2019, Minsk-News reports.

KAZAKHSTAN: Jan-May 34% of GWP were generated by life insurance
by Marina MAGNAVAL, 2019-06-27
According to the National Bank of Kazakhstan, for the period from January to May, total GWP amounted to KZT 208.7 billion/~EUR 0.49 billion (+24% y-o-y). 34% of GWP were contributed by the life sector, reports.
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RUSSIA: in May, INGOSSTRAKH ranked 1st on the MTPL market
by Marina MAGNAVAL, 2019-06-27
According to the Russian Association of Motor Insurers, in May 2019 INGOSSTRAKH became the MTPL leader in terms of number of policies and GWP, while AlfaStrakhovanie held the leading positions for the period from January to May, ASN reports.
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RUSSIA: S&P upgraded SOGAZ to 'BBB', outlook stable
by Marina MAGNAVAL, 2019-06-27
S&P Global Ratings raised its long-term issuer credit and financial strength ratings of SOGAZ to 'BBB', outlook stable, removing them from CreditWatch with developing implications, as the insurer informed on its website with reference to the agency's report.
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The 6th Annual Insurance Business Forum "Challenges of the Year 2019" will be held on September 16-18, 2019 at Venue - Sochi, Swissotel Sochi Kamelia 5*
by press.release, 2019-06-26
This year the Forum format completely differs from those held earlier. The main objective of the event is the creation of a business platform for dedicated experts in Russia and abroad to discuss and share experience on specific, most relevant issues in the field.

"Insurance in Azerbaijan: Trends & Opportunities" takes place tomorrow!
by Daniela GHETU, 2019-06-27
Developing several mandatory insurance lines, as well as reforming the agricultural insurance system or taking steps to the market's digitalization and general modernization are the main growth solutions that will be discussed on the occasion of the 2019 edition of the Conference "Insurance in Azerbaijan: Trends & Opportunities", 28 June 2019, Hilton Hotel, Baku, Azerbaijan.

EVENT: 55th edition of Global Insurance Forum took place in Singapore

The 55th edition of Global Insurance Forum, organized by IIS - International Insurance Society and The Institutes took place between 19 June - 21 June in Singapore.

On the move
BULGARIA: ABI appointed new Board of Directors
by Cosmin CONCEATU, 2019-06-27
During its annual meeting, held June 19, 2019, the Association of Bulgarian Insurers (ABI) adopted a program for the following year and elected a new board, led by Konstantin VELEV as Deputy Chairman.

AXA's Group Deputy CEO and CFO is retiring at the end of the year
by Andrei Victor, 2019-06-24
AXA announced that after 29 years with the Group, Gerald HARLIN, Group Deputy CEO and Chief Financial Officer, and a Member of AXA's Management Committee has decided to retire on January 1, 2020.





Les Rendez-Vous de Septembre
7-12 September 2019
Monte-Carlo, Monaco

4th Annual Connected Claims Europe
18 - 19 September, 2019
Novotel Amsterdam City, The Netherlands

Annual National Reinsurers Summit
19 - 20 September 2019
St. Petersburg, Russia
9th Edition Insurance Asset Management
18 - 20 September, 2019
Amsterdam, Netherlands
Insurance Conference - Republic of Moldova
3rd Edition
3 October 2019
Radisson Blu Leogrand Hotel
Baden-Baden XPRIMM Reception
20 October 2019
Kurhaus Casino?
Baden-Baden, Germany
10th Annual WorldPensionSummit
22 - 24 October, 2019
Louwman Museum, the Hague, the Netherlands


XPRIMM Ins. Report FY2018
KAZAKHSTAN FY2017 & 1H2018
TURKEY FY2017 & 1H2018
Motor Ins. Report FY2017
Property Ins. Report FY2017