Michaela KOLLER, General Manager, Insurance Europe

There are significant concerns that the new Solvency II regulation treats insurers as if they invest like traders, and are faced with the same risks as traders. We shouldn't forget that insurers are Europe's largest institutional investors. In 2013 they had over €8.5 trillion of assets under management. That is roughly equivalent to 60% of the entire Gross Domestic Product (GDP) of Europe.


Reinsurance buying is undergoing nowadays a fundamental change. Insurance companies are becoming more sophisticated as they understand their needs in risks and capital management much better. They make their decisions how to optimize their reinsurance in a much better informed way. Reinsurance is not anymore a foreign word to the chief financial officer or the risk manager but they do not know how to utilize reinsurance as a strategic tool to optimize their business. And as a provider you have to understand the impact of a specific solution on the relevant specific accounting standards and capital model.

Nebil HUSEIYNI - Executive Chairman, AVRASYA Re

The years to come will see a trickledown effect from the more developed markets to the still developing ones within each continent. However, reinsurance in Asia will keep developing and expanding at a hefty pace following in the footsteps of the general economy.


For 2015, data exchange among insurers, according to the insurance law, means a new task and challenge for the insurance companies. The positive effect of the data exchange among the insurance companies is expected to stop/to decrease frauds in the insurance contracts. This will be clearly in the interest of the customers as well, by defending the interests of the risk community.

Mariusz WICHTOWSKI, President of the Council of Bureaux

Recently, the Council of Bureaux sent its 47 member countries a recommendation letter to suspend Moldova from the Green Card system starting July 1st. The final decision will be taken at the end of May by the General Assembly of the Council of Bureaux.
XPRIMM presents you an exclusive interview with Mariusz WICHTOWSKI, President of the Council of Bureaux, about the current situation on the Moldavian insurance market and the possible consequences of a suspension.

Martin DIVIS, President of Czech Insurance Association, CEO of Kooperativa and VIG CR

Vienna Insurance Group CR seeks to be the biggest and mainly the first-rate insurer of the Czechs, households and companies. I believe that we have succeeded in meeting this strategy so far and I hope that we will be able to do so also in the future. What I see as our greatest advantage is both that we are making a high-quality insurance and mainly that we want to make it in long term. We are very much aware that insurance business is a long term affair as we contract insurance policies lasting sometimes over 30 years. And clients apparently know to appreciate it.

Dmitry SHAYDULIN, CEO, GLINSO Re/Insurance Brokers, Russia

One has to say openly and frankly that sanctions do not go without impacting the Russian market. The participation of Western reinsurers in obligatory treaties as it was within all previous years nowadays is sort of questionable. The Russian cedants keep eyes on alternative markets and risks transfers. Western reinsurers have unfortunately to lose the shares they kept in "privileged" areas like state-owned-property or perfectly-well-guarded-cargo.

Yassir ALBAHARNA, CEO, ARIG - Bahrain

The majority of ARIG's reinsurance portfolio performed well in a challenging market, where we have seen risk premiums reducing year by year. Apart from the underwriting result, we are pleased to see our investment result holding up, while we are pursuing a strategy that protects our stakeholders' capital.

Veronica MALCOCI, General Director, GRAWE Carat Insurance Company, Moldova

At the moment, the insurance industry in Moldova is underdeveloped because it is closely related to the economic, political and social situation in the country. The compulsory insurance is currently the most developed line. Moreover, over the past three years, the non-life insurance segment remained on a positive trend.

Kairat N. KELIMBETOV, President of the National Bank of the Republic of Kazakhstan

The creation of the National Office of Motor Bureau is taken into consideration in order to improve the cross-border MTPL insurance coverage, as well as for the integration of the Republic of Kazakhstan in the framework of the EEA. We are also discussing with non-governmental organizations, including insurance companies the introduction of compulsory insurance of immovable property against catastrophic risks.

Kemal CUHACI, Deputy General Manager, MILLI Re

Currently 75% of the premiums in the Turkish non-life sector are generated by top ten insurance companies. This is a significant indicator of the mergers and acquisition in the market in the medium term. Moreover, the vast majority of the companies in the top ten are owned by the foreign insurance group. In the overall market, more than 70% of the paid-up capital belongs to the foreigners. This demonstrates the market is an attractive business environment in which the foreigners can operate with a reasonable profit margin.

Andrey T. UNTON, General Director of BELARUS Re

The pressure the international market of reinsurance gets from other capital markets is important. Therefore long-term partnerships between the reinsurers and their clients, the ability to fit the needs of reinsureds and to offer best methods of their interests protection will be the key to success. The reinsurance companies will have to take efforts to explore new products to meet the demands of their clients or they won't be able to compete with alternative capital markets.

Branko VUJOVIC, President of the Council of the Insurance Supervision Agency

Under conditions of limited economic growth, lower volume of investments and reduced liquidity in the real sector in Montenegro, the insurance sector is faced with limited financial potential of the economy and reducing the purchasing power of the population. However, despite this, the Montenegrin insurance companies have achieved growth in assets in relation to the end of 2013, and a positive financial result. Also, in the investment policy of the Montenegrin insurance companies a dominant share has investment in traditionally low-risk securities with fixed income - government bonds and bank deposits, which helps to maintain domestic financial stability.

Enkeleda SHEHI, Chairperson, Albanian FSA

According to EUROPA Re, an earthquake with a probability of occurrence once in 500 years could cause in a country like Albania damages around EUR 3.5 billion, out of which EUR 2 billion could be the bill to the households.

Dmitry GARMASH, Head of Moscow Representative office, BARENTS Re

At the traditional Baden-Baden XPRIMM Reception Event, Dmitry GARMASH, Head of Moscow Representative Office of BARENTS Re, Inc. related for the main features of the BARENTS Re strategy for the forthcoming period and the main advantages offered to business partners. This year, BARENTS Re supported the 6th Edition of XPRIMM's Baden -Baden Reception as an Official Partner.

Klime POPOSKI, PhD, President of the Council of Expert Insurance Supervisory Agency, Macedonia

We expect 2014 to end with a GWP growth, i.e. we expect the growth seen in the first half of the year to continue until the end of the year. The life insurance segment will keep up its dynamic two-digit growth, but also the non-life insurance segment is expected to maintain its positive growth by the end of the year, with a slower growth rate compared to the growth achieved in the first half of 2014.