GDV - German Insurance Association

There is virtual no building in Germany, which doesn't have fire insurance. Additionally more than 90% of all buildings have an insurance cover against losses from hail and storm. 40% of all buildings do have an extended cover against natural hazards, including flood, heavy rainfall, snow pressure, subsidence, landslides, etc. In the past, the introduction of compulsory insurance against natural hazards was discussed over and over again. However, because in Germany we do have a working and efficient market for natural hazard insurance, there is no need for a compulsory solution.

Fuad KULIYEV, Chairman of the Management Board, AzRe

Ratings assignment had a positive impact on AzRe's reputation on the local market, as it is one of the highest ratings in the economy of the country. Moreover, the rating allows us to underwrite more risks from foreign markets. We have started writing more business from post soviet countries, as well as some countries from the South East Asia, Middle East, and Central/South America.

The PAID objectives for this year, the causes for which the penetration degree of the compulsory real estate insurance is lower than 18%, the damages paid and the information campaign on the insurance importance and benefits targetted at the population are among the topics discussed by Nicoleta RADU-NEACSU, General Manager of PAID Romania, during the interview with PRIMM Asigurari & Pensii magazine.

Romel TABAJA, Deputy CEO, TRUST Re

What we have accomplished over the last 5 -7 years is to become a medium sized reinsurer. We began developing as a regional reinsurer, a fact that is no longer a reality. We are proud of who we are and we always start by looking at we've achieved in the past. Meanwhile, we need to always focus on our partners as their satisfaction is a target always on our mind.

Krzysztof JABLONSKI, Managing Director, Van Ameyde CEE

Claims managers Van Ameyde CEE have been active in the Central Eastern European and CIS countries for some ten years now. The company has developed from motor, bodily injury and property claims handling to providing complete claims outsourcing services as well as IT solutions aimed at making claims processes more efficient. Van Ameyde is the only claims management organisation with its own full-service IT company, called (Zero)70 with offices in Rijswijk (the Netherlands) and Lisbon (Portugal). We speak with Krzysztof (Kris) JABLONSKI, Managing Director of Van Ameyde CEE to find out more.

Bozana SLJIVAR, Director, Insurance Agency of Republic of Srpska, Bosnia and Herzegovina

Raising awareness about the importance of insurance, with an emphasis on non-mandatory and life insurance, is a necessity. Efforts should be invested in attempts to reduce the share of MTPL in non-life business. The reasons for lagging behind should be sought both in the general economic circumstances, such as economic stability, the achieved level of the standard of living, and in specific circumstances such as those related to tax exemptions and other incentives, the insurance culture and the low level of financial literacy in the population.

Hrvoje PAUKOVIC, Director, Croatian Insurance Bureau

The Croatian insurance industry is facing several challenges. The long-lasting financial crisis and the overall reduction of household income and consumer consumption in Croatia have weighed heavily on the total market premium for years. After 12 quarters of GDP decline, the first-quarter 2015 GDP showed a modest growth. If this encouraging trend continues, it will certainly stimulate a gradual recovery of the insurance market.

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.