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Insurance Newsletter, No. 254, October 2, 2014

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INTERVIEW - TOP NEWS - PRESS CUTTINGS - EDITORIAL - EVENTS - STATISTICS
TOP NEWS
4 special events and the latest statistics at Baden Baden. Book your seat now!
by mihai.cracea@mxp.ro, 2014-10-02
Only two more weeks to go until the 2014 Baden Baden Reinsurance Meetings will start, bringing together reinsurance specialists from all over the world. That is why XPRIMM Publications are proud to announce a series of events that will provide the perfect opportunity to bring you closer to your business partner, help you find the latest statistics for the CEE, SEE and CIS insurance markets and network.
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STATISTICS: RUSSIA, 1H2014: The local market is expected to increase by 9% until the end of this year
by olesea.adonev@mxp.ro, 2014-10-02
According to a report published by the Central Bank of Russia, in the first half of this year the local insurance market grew by 8.49% in national currency compared with the same period of last year. Therefore, in 1H2014 gross written premiums reached RUB 507.2 billion (EUR 11 billion) fromRUB 467.5 billion (EUR10.9 billion) in 1H2013.
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STATISTICS: ROMANIA 1H2014: MTPL insurance went up 8.7% in GWP terms, but recorded a combined ratio of 131%

by vlad.boldijar@mxp.ro, 2014-10-02
The Romanian insurance market decreased 6.8% y-o-y in the first half of 2014 to RON 3.97 billion (EUR 890 million), as the Financial Supervisory Authority (FSA) announced in the half-year Report.
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STATISTICS: POLAND 1H2014: the second year of consistent drop in life insurance GWP
by daniela.ghetu@mxp.ro, 2014-10-02
The Polish market continued to saw in 1H2014 the descending trend recorded in 2013. Thus, overall GWP decreased by 7.4% y-o-y, to PLN 27.7 billion, again driven by the 11.3% decrease in life insurance underwriting. However, due to the Polish zloty appreciation during the last 12 months, the market results look better denominated in euro (EUR 6.7 billion in GWP, 3.67% down y-o-y).
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STATISTICS: CZECH Rep. 1H2014: positive trend driven by single premium life insurance products and improving MTPL tariffs
by daniela.ghetu@mxp.ro, 2014-10-02
The slightly positive trend of the Czech insurance market continued in the first half of 2014, with an overall increase in GWP of 3.6%, to CZK 82.95 billion. However, the almost 6% depreciation of the Czeck currency against the euro made the market results to show a negative change of 2% when denominated in euro, to EUR 3.02 billion.
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AXA remains in ROMANIA. The deal with ASTRA failed
by vlad.boldijar@mxp.ro, 2014-10-02
The French insurer AXA said that the sale of its Romanian subsidiary AXA Life Insurance to ASTRA Asigurari has failed. "The agreement with Astra Asigurari to sell AXA's Life & Savings insurance operations in Romania, announced on November 29, 2013, has lapsed", AXA announced. The transaction received the approval of the Competition Council on 23rd December, 2013.
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ICAR 2014
STATISTICS: SLOVENIA 1H2014: harsh competition pushed down motor insurance GWP despite de increasing car sales
by daniela.ghetu@mxp.ro, 2014-10-02
Slovenian insurers ended 1H2014 with an aggregate GWP of EUR 1.05 billion, 3.2 lower y-o-y. "As expected, the decline in gross written premium is still noticeable and we can expect this trend till the end of this year," Mateja LAMOVSEK, Insurance Analyst with Slovenian Insurance Association told XPRIMM.
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STATISTICS: ARMENIA, 1H2014: The loss ratio on MTPL insurance is 60%
by olesea.adonev@mxp.ro, 2014-10-02
In January -June 2014, gross written premiums recorded by the Armenian insurance market totaled AMD 15.6 billion; going down by 38% compared with the results of the 1st half of 2013 when insurance companies had collected AMD 21.6 billion in premiums.
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Russia: 2014 - a difficult year for the insurance industry
by olesea.adonev@mxp.ro, 2014-10-02
The current year has been a difficult one for the Russian insurance market. Changes that have taken placewere largely associated with the reform of the supervisory system.
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International Conference "Agricultural Insurance, Reinsurance and Brokerage in CIS, Europe & Asia" - The registration deadline approaches

by olesea.adonev@mxp.ro, 2014-10-02
One more week is left before the start of the International Conference "Agricultural Insurance, Reinsurance and Brokerage in CIS, Europe & Asia." The Conference will be held on October 6-8, 2014 in Istanbul, Turkey. The conference is organized by AgroInsurance International LLC. Media XPRIMM supports this event as media partner.
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STATISTICS: CYPRUS 1H2014: Accidents & Health, Fire and Motor insurance made more than half of the non-life business

by vlad.boldijar@mxp.ro, 2014-10-02
The total volume of gross premiums written by the Insurance Association of Cyprus (IAC) members amounted to EUR 382 million in 1H2014, representing a decrease of 2.2% y-o-y. According to the IAC website, there are 30 insurance company members accounting for about 95% of the annual GWP in the local market.
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STATISTICS: GREECE 1H2014: unit-linked insurance products pushed the life segment back on a positive track
by vlad.boldijar@mxp.ro, 2014-10-02
The Greek insurers reported a GWP of EUR 1.93 million in the first half of 2014, as compared with EUR 1.97 billion a year earlier, according to the 1H2014 Report published by the Hellenic Association of Insurance Companies (HAIC). In the analyzed period, the non-life insurance GWP accounted for 54.9% of the total (EUR 1.06 billion, 9% less y-o-y), while the life insurance segment accounted for the remainder of the market (~EUR 870 million, or 7.57% more y-o-y).
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TURKMENISTAN: Steps forward to create a single insurance information network
by daniela.ghetu@mxp.ro, 2014-10-02
The State Insurance Organization of Turkmenistan, for the time being the sole insurance entity in the country, is completing the creation of a single information network, TREND news agency reported. The Turkmen State Insurance Organization has an extensive network in the country of more than 40 offices and is currently taken steps to expand its partnerships with leading international insurance, reinsurance companies and insurance brokers.
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Credit Europe Asigurari
International Istanbul Insurance Conference
Ahmet GENC, Turkish Treasury: The aim of changing the legislation was to increase the number of checkpoints for earthquake insurance
by mihai.cracea@mxp.ro, 2014-09-25
During the recent years, after 2010, the Turkish authorities decided that, in order to increase the level of protection through compulsory earthquake insurance, a change of legislation was required.
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Earthquake coverage in Turkey reached 37%
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MUNICH Re: Indirect losses after natural catastrophe impact the economy for subsequent years
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Do we have enough protection against catastrophic risks?
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PRESS CUTTINGS
ARMENIAN insurers paid 6.3 billion drams in car insurance compensation claims in eight months

AZERBAIJAN: 688,000 cars issued with compulsory insurance policies over three quarters of the year

CEE insurer gets first licence to post collateral abroad

KAZAKH insurer Eurasia pays USD 21.5 million for malfunctioning Russian satellite

LITHUANIA, BTA Insurance: October, December most dangerous months for drivers

RUSSIA: URALSIB selects Earnix Insurance risk premium solution

TURKEY's ZIRAAT Bank approves EUR 50 million loan to BOSNIA, to expand operations

UKRAINE crisis costs Russia's VTB USD 674 million in 2014

Willis Re strengthens TURKISH skills with Gras Savoye agreement
FUTURE REPORTS

On the occasion of the Baden Baden meeting (October 19th-23rd, Baden-Baden), Media XPRIMM will launch five new titles. Join our events in Baden Baden and get your complimentary copies of:

- XPRIMM INSURANCE REPORT 1H 2014 – 32 CEE, SEE & CIS markets half year statistics

- XPRIMM INSURANCE PROFILE – In depth market analysis for the following insurance markets/analyzed periods:

RUSSIA 1H 2014
TURKEY FY 2013 and 1H2014
AZERBAIJAN 1H 2014
KAZAKHSTAN FY 2013 and 1H2014

JLT
BELARUS Re

INTERVIEW
Alexander ZALETOV
President
Ukraine League of Insurance Organizations

The system of voluntary health insurance, as an addition to the state system of social guarantees, would be a reliable economic mechanism directed to reducing budget expenses, because the voluntary health insurance is one of the financing sources of the health system.
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METROPOLITAN LIFE

STATISTIC UPDATES
1H2014 Cyprus
1H2014 Greece
1H2014 Czech Rep.
1H2014 Poland
1H2014 Romania
1H2014 Slovenia
1H2014 Armenia
1H2014 Russia

GRECO

EVENTS
International Conference on Agricultural Insurance, Reinsurance and Brokerage for CIS, Europe & Asia
October 6-8, 2014, Istanbul
Organiser: Agroinsurance International
Media Partner: XPRIMM Publications
For details: www.agroinsconf.com
11th ICAR - International CAtastrophic Risks Forum
October 8, 2014, Bucharest, Romania
Organizer: Media XPRIMM
For details: www.icarforum.ro

Cyber Risks in Financial Services Conference
October 9, 2014
Parliament Palace, Bucharest, Romania
Organizer: Media XPRIMM
For details: www.cyberisks.ro
European Insurance Fraud Summit
October 13-14, 2014, Amsterdam
Organizer: MarketForce
Media Partner: XPRIMM Publications
For details: www.marketforce.eu.com

Baden Baden XPRIMM Reception
October 19, 2014
Organizer: Media XPRIMM
Azeri Evening - Baden Baden
October 19, 2014
Organizer: Azerbaijan Insurers Association
Japanese Evening - Baden Baden
October 19th, 2014
Organizers: NTT Data and Media XPRIMM
For details: www.xprimm.com
Turkish Evening - Baden Baden
October 21, 2014
Organizer: Istanbul Underwriting Center
Baden Baden Meetings 2014
October 19-23, 2014
For details: badendirectory.com
6th Annual Insurance Distribution Strategies Forum
October 29-30, 2014, Rome, Italy
Organizer: Fleming Europe
Media Partner: XPRIMM Publications
For details: www.flemingeurope.com
2nd Annual Solvency II Forum
October 30-31, 2014, Vienna, Austria
Organizer: Global Leading Conferences
Media Partner: XPRIMM Publications
For details: globalleadingconferences.com
WorldPensionSummit 2014
November 5-6, 2014
The Hague, Netherlands
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com
Conference of MABISZ
November 6, 2014
Corinthia Hotel, Budapest, Hungary
Organizer: Hungarian Insurance Association (MABISZ)
For details: mabiszkonferencia.hu
EIOPA Conference
November 19th, 2014
Frankfurt am Main, Germania
Organizer: EIOPA
For details: eiopa.europa.eu


THE EDITORIAL STAFF:

President: Sergiu COSTACHE CEO: Adriana PANCIU
Managing Partner: Alexandru D. CIUNCAN
Development Director: Mihaela CIRCU

Project Manager XPRIMM.COM: Daniela GHETU
Coordinating Editor: Mihai CRACEA
International Column Coordinator: Vlad BOLDIJAR
CIS Research Consultant: Olesea ADONEV
Senior Editor: Oleg DORONCEANU, Andreea RADU
Editors: Oana RADU, Adina TUDOR
Customer Relations Director: Georgiana OPREA
IT Department: Octavian GRIGOR, Dorin PALADE, Cosmin ARMASESCU

e-mail: media@xprimm.com
PUBLISHED BY: Media XPRIMM

Reproduction or use without permission of editorial or graphic content, in any manner, is prohibited. The Editorial Staff is not responsible for the truthfulness or the accuracy of the presented data. The Editorial Staff has the right to present the data in it's own manner. In what concerns the use, in any manner, of the information contained in this e-mail, Romanian laws apply.

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