XPRIMM News
 
Insurance Newsletter, No. 266, April 2, 2015

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INTERVIEW - ON THE MOVE - TOP NEWS - PRESS CUTTINGS - STATISTICS

TOP NEWS
IIF 2015 - Property Insurance in a Stormy Era: Talking about the Nat Cat protection in the reinsurance hub of Munich
by daniela.ghetu@mxp.ro, 2015-04-02
"Estimated total economic losses of the devastating May 2014 floods came to staggering EUR 1.5 billion, which represents 4.5% of Serbia's GDP. Low penetration of insurance was evident in the amount of insured losses that were less than EUR 40 million," recently stated for XPRIMM a representative of the National Bank of Serbia. Beyond the important impact that this discrepancy between the total losses and the volume covered by insurance had on the Serbian economy, this piece of information is also relevant for the significant Nat Cat protection gap in the young European insurance markets.
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"MTPL - From West to East" - the editorial premiere of the XPRIMM Motor Insurance Report's 3rd edition
by daniela.ghetu@mxp.ro, 2015-04-02
The third edition of the XPRIMM Motor Insurance Report will meet its first readers on April 20th, in Istanbul, on the occasion of the "IIF 2015 - Motor insurance-the road towards profitability" conference.
The top novelty offered by the report will be the first edition of the study "MTPL - From West to East - Current Systems", which aims to paint a comprehensive picture of the MTPL markets in some of the most developed countries in Europe.
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5 great conclusions from the 3rd Claims Forum Conference
by adina.tudor@mxp.ro, 2015-03-24
The 3rd Annual Claims Forum, which took place between the 11th and the 13th of March 2015, gathered in Munich, Germany, insurance professionals specializing in motor insurance. Besides studying various specific claims areas such as Nat Cat or bodily injuries, the top claims and fraud experts discussed compliance and regulations, CRM and effective claims management as well as many issues connected to the detection, investigation and prevention of fraud.
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UKRAINE: ALLIANZ UKRAINE leaves the motor insurance segment
by olesea.adonev@mxp.ro, 2015-03-31
The general meeting of the Motor Insurance Bureau of Ukraine excludes ALLIANZ Ukraine (Kiev) from a member of the Bureau on the basis of statements made by the Company. The insurer is obliged to fulfill the obligations under previously signed contracts. Moreover, in 2014 the share of MPTL insurance in the insurer's portfolio totaled 2.21%, according to FORINSURER.
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VAN AMEYDE Polska becoming fully Dutch
by mihai.cracea@mxp.ro, 2015-03-20
With the start of 2015 the company VAN AMEYDE International BV of the Netherlands has got a 100% stake in its daughter company - VAN AMEYDE Polska. These changes are a reflection of strengthening the company's position in the European market and its further expansion.
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TALANX reported solid growth rates in 2014
by vlad.boldijar@mxp.ro, 2015-04-02
German Group TALANX closed the financial year 2014 with an operating profit of EUR 1.9 billion, or 7.1% more y-o-y. The net income improved by 5% to EUR 769 million exceeding the EUR 700 million outlook threshold, while the agregate value of gross written premiums increased by 3% y-o-y to a record of EUR 29 billion. At the same time, the Group's combined ratio rose slightly to 97.9% ( vs. 97.1% in 2013) "as a result of the higher burden in primary insurance", the German insurer noted in a statement.
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STATISTICS: RUSSIA FY2014: The internal chronic problems affected the insurance market more than the international sanctions
by daniela.ghetu@mxp.ro, 2015-04-02
The Russian insurance market recorded in 2014, for the first time, a negative trend in real terms: while GWP grew by 9.16% in Russian currency, to RUB 987.78 billion, the y-o-y inflation rate recorded by the end of 2014 stood at about 11%, according to the international statistical databases. At the same time, claims paid surged by 12% in nominal terms, to RUB 472.27 billion, the largest contribution to this higher claims volume belonging to the motor insurance lines.
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Credit Europe Asigurari
STATISTICS: POLAND FY2014: decreasing trend continued both in business volume and aggregated net profit terms
by daniela.ghetu@mxp.ro, 2015-04-02
The Polish insurance market preserved in 2014 the downward trend established in the previous year, with GWP recording a 5% decrease (in local currency) of the overall GWP volume (7.65% in euro), to PLN 54.9 billion (EUR 12.89 billion). Life insurance segment continued to see substantial reduction in GWP, although to a less dramatic pace than one year ago (-8.3% in 2014; - 14.06% in 2013 in Polish zloty - PLN).
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STATISTICS: SLOVENIA FY2014: Falling MTPL prices affect the market size and raise the market authority's concern
by daniela.ghetu@mxp.ro, 2015-04-02
Slovenian insurers saw again a negative change in the overall market results in 2014, with GWP decreasing by 2%, to EUR 1.94 billion. The negative trend affected both life and non-life insurance segments. Paid claims also decreased by 2.5%, to EUR 1.33 billion.
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STATISTICS: BULGARIA, FY2014: The insurance market increased by 2.6% y-o-y driven by the double digit growth rate reported on life segment
by vlad.boldijar@mxp.ro, 2015-04-02
Statistical data published by the FSC - Financial Supervision Commission indicate for the financial year 2014 an 2.6% y-o-y increase of the Bulgarian insurance market to EUR 907.4 million. Life insurance market totaled EUR 174.1 million or 11.3% more y-o-y due the increase of traditional segment by 10%, while the non-life insurance sector generated about 80% of the total insurance market, the equivalent of EUR 733.3 million, up by 0.8% compared to FY2013 figures.
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STATISTICS: CYPRUS insurance market declined by 3% in 2014
by vlad.boldijar@mxp.ro, 2015-04-02
At the end of 2014, the Cypriot insurance market totaled EUR 727 million, recording an annual decrease of 3%, according to the figures published by the Insurance Association of Cyprus (IAC). The value of paid claims declined by 26% y-o-y to EUR 459 million. In case of life insurance, IAC reported a negative dynamic of 4.7% y-o-y to EUR 304 million while in case of non-life insurance segment, the decrease was 1.9% y-o-y to EUR 423 million.
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STATISTICS: MACEDONIA FY2014: Preliminary figures indicate significant growth rates in property claims
by vlad.boldijar@mxp.ro, 2015-04-02
The preliminary FY2014 statistics indicate for the Macedonian insurance market a total GWP volume of EUR 124 million, 6.1% up y-o-y. Life insurance segment generated a 21.8% y-o-y growth rate (to EUR 14.5 million), while the non-life insurance classes increased by 4.3% y-o-y to EUR 109.6 million. At the "claims chapter", the aggregate value increased by 3.2% to almost EUR 50 million. Life indemnities' volume went down by 10.6% y-o-y to EUR 1.7 million, while on the non-life segment the aggregate growth rate was 3.8% (to EUR 48 million).
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EUROINS

ON THE MOVE
Regina OVESNY-STRAKA, CEO of KOOPERATIVA poistovna VIG starting April 1st
by daniela.ghetu@mxp.ro, 2015-04-02
Starting April 1st, Regina OVESNY-STRAKA took over as CEO of the Slovak subsidiary of Vienna Insurance Group, KOOPERATIVA poistovna. In January Mrs. OVESNY-STRAKA was also elected by the Presidium of the Slovak Insurance Association as president of the association, for a two years mandate.
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METROPOLITAN LIFE

POINT OF VIEW
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.
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.
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PRESS CUTTINGS
AIG decided to postpone Leaving AZERBAIJAN

AlfaStrakhovanie insured vehicle fleet of RUSSIA's Investigative Committee

Allianz Bulgaria to exit Romanian market

American insurer Chartis froze its plans for AZERBAIJAN due to manat devaluation

AZERBAIJAN: AzRe Tekrarsigorta closed year of 2014 with profit at the level of almost AZN 15 million

BULGARIAN insurer EIG gets regulatory nod to take over peer HDI Zastrahovane

INGO UKRAINE's net income in 2014 amounts to UAH 56 mln

LITHUANIA: ERGO cooperate with Nextury Ventures in the creation of innovation in the insurance field

MOLDOVA: Tiraspol administration delayed introduction of auto insurance till April 14

RUSSIA: SOGAZ insured building of Moscow regional court for RUB 9.6 billion

TURKEY: Halk Emeklilik rolls out its mobile branch

Vehicles registered in MOLDOVA to be insured while entering Transnistria

INTERVIEW
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.
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VIG
JLT

CURRENT REPORTS
XPRIMM INSURANCE REPORT 1H2014
RUSSIA 1H 2014
TURKEY FY 2013 and 1H2014
AZERBAIJAN 1H 2014
KAZAKHSTAN FY 2013 and 1H2014

BELARUS Re
GRECO

STATISTIC UPDATES
Russia FY2014
Poland FY2014
Czech Rep. FY2014
Slovenia FY2014
Bulgaria FY2014
Macedonia FY2014
Cyprus FY2014


EVENTS
IX International Conference "Insurance in Central Asia"
April 14-15, 2015
Almaty, Kazakhstan
Organizer: InterConsult Info
With the support of the Kazakhstan Association of Insurers
Media Partner: XPRIMM Publications
For details: www.allinsurance.kz

XIX-th Russian Reinsurance Conference
April 16-17, 2015
Moscow, Russia
Organizers: All-Russia Insurance Association & DELEVOY Format Group
Media coverage: XPRIMM Publications
For details: ins-df.com/reconference
XI - Annual International Risk Management Conference
April 16-17, 2015
Almaty, Kazakhstan
Organizer: JSC Eurasia Insurance Company
Media Partner: XPRIMM Publications
For details: www.theeurasia.kz
IIF 2015 - Motor Insurance - The Road towards profitability
April 19-20, 2015
Istanbul, Turkey
Organizers: Media XPRIMM and Istanbul Underwriting Center
Media coverage: XPRIMM Publications
For details: www.internationalinsuranceforum.com
The Future of General Insurance in Africa
April 23-24, 2015
Organizer: Landsberg Communications International - LCI
Media Partner: XPRIMM Publications
For details: www.lcisa.com
Bancassurance. Products and Technologies
April 25, 2015
Radisson Blu Belorusskaya
Moscow, Russia
Organizer: ICG "Business Service"
Media Partner: XPRIMM Publications
For details: events.bis-info.ru
Global Forum on Cyber Security for Financial Sector
May 11-12, 2015
Frankfurt, Germany
Organizer: PROSPERO Events
Media Partner: XPRIMM Publications
For details: www.prosperoevents.com
FIAR 2015 - The International Insurance - Reinsurance Forum
May 17-21, 2015
Brasov, Romania
Organizer: Media XPRIMM
For details: www.fiar.ro
Global Bancassurance & Alternative Distribution Channels Conference
21-22 May, 2015
Prague, Czech Republic
Organizer: Corporate Parity
Media Partner: XPRIMM Publications
For details: www.c-parity.com
7th International Insurance Conference
May 27, 2015
Luxembourg Congres Conference Centre
Organizer: Insurance Europe
SORS Conference
June 10th-12nd, 2015
Sarajevo, Bosnia and Herzegovina
Organizer: SorS, TECTUS and SVIET Osiguranja
Media Partner: XPRIMM Publications
For details: www.sors.ba
IIF 2015 - Property Insurance in a Stormy Era
June 22-23, 2015
Munich, Germany
Organizers: Media XPRIMM and NTT Data
Media coverage: XPRIMM Publications
For details: www.internationalinsuranceforum.com
AIIF - 2015 Azerbaijan International Insurance Forum
AIIF - 2015 Азербайджанский Международный Страховой Форум
July 2nd-3rd, 2015
Fairmont Hotel, Baku, Republic of Azerbaijan
Organizers: Azerbaijan Insurers Association and Media XPRIMM
For details: www.xprimm.com


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

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