XPRIMM News
 
Insurance Newsletter, No. 272, June 25, 2015

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INTERVIEW - POINT OF VIEW - TOP NEWS - PRESS CUTTINGS - STATISTICS

"IIF 2015 - Property Insurance in a Stormy Era" Recap
VIDEO: Claims management - key to improving insurance penetration
by alexandru.ciuncan@mxp.ro, 2015-06-22
"Claims management is the key to improving insurance penetration", Michael THEILMEIER, Chairman of GDV's Committee for Central and Eastern Europe; Senior Vice President, GEN Re, Germany said during his IIF - Property Insurance in a Stormy Era speech.
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"IIF 2015 - Property Insurance in a Stormy Era"
Photo Gallery - Presentations
Climate change brings challenges in all areas of activity
by alexandru.ciuncan@mxp.ro, 2015-06-22
Climate change, the rise in natural catastrophes and the impact upon the re/insurance industry is the focus point of the first edition of IIF - Property Insurance in a Stormy Era conference that took place on 22-23 June, 2015 in Munich, Germany. The event, which gathered more than 100 leaders and specialists from all over the world, was co-organized by NTT Data Germany and XPRIMM.
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VIDEO: Munich RE: We see an increasing trend of natural catastrophe claims
by alexandru.ciuncan@mxp.ro, 2015-06-22
"We do see an increasing trend of natural catastrophe claims" - but this does not necessarily increase the insurance penetration. This was one of the key messages that MUNICH Re delivered at the IIF - Property Insurance in a Stormy Era conference. "Challenges with Nat Cat" - this was the title of Mr. Andreas VOSSBERG, Senior Underwriter Property Treaty CEE within MUNICH Re.
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Romania and Turkey: Current models of the compulsory home insurance system
by alexandru.ciuncan@mxp.ro, 2015-06-22
17.25% of all Romanian dwellings are insured as of May 31, 2015 out of a total of 8.8 million, Mrs. Nicoleta RADU-NEASCU, CEO of PAID, Romania has stated during the IIF - Property Insurance in a Stormy Era Conference.
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VIDEO: OXERA: Insurance cover for flooding should continue to be widely available for everyone
by alexandru.ciuncan@mxp.ro, 2015-06-22
Is flooding different to other insurable events? This is the question that was answered by Reinder van DIJK, Partner and Head of Financial Services, OXERA Consulting LLP, UK during the works of IIF - Property Insurance in a Stormy Era.
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Credit Europe Asigurari
GDV: Germany will not have a mandatory insurance scheme for natural catastrophes
by alexandru.ciuncan@mxp.ro, 2015-06-22
Germany will not have a mandatory insurance scheme for natural catastrophes. This is the conclusion of the Conference of German States' Ministers of Justice from June 18 2015, according to the representatives of GDV - The German Insurers' Association present at IIF - Property Insurance in a Stormy Era.
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Side effects of floods important for risk modelling
by alexandru.ciuncan@mxp.ro, 2015-06-22
Flood repairs involve a number of operations, including drying, redecoration and reconstruction of components, replacing contents - but rarely structural damage. This is very important for modelling this particular risk, according to the specialists present at the IIF - Property in a Stormy Era Conference in Munich.
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TOKIO Millennium is working on its own model for assessing hail risk
by alexandru.ciuncan@mxp.ro, 2015-06-23
TOKIO Millennium Re is currently working on its own model for assessing hail risk for motor insurance, considering the diurnal cycle of traffic, as discussed during "IIF - Property Insurance in a Stormy Era" conference in Munich.
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Linking reinsurance to Solvency II
by alexandru.ciuncan@mxp.ro, 2015-06-23
The role of the reinsurance broker has changed during the last year and Solvency II has been a major driver in that change. Retention management is now crucial because it is linked with the risk capital of an insurance company, Hamish DOWLEN, Executive Director, WILLIS Re, UK, explained during "IIF - Property Insurance in a Stormy Era" conference in Munich.
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Macedonian agricultural insurance benefited from the government subsidizes
by alexandru.ciuncan@mxp.ro, 2015-06-23
"The agricultural sector is an essential part of Macedonia's national economy but it is highly sensitive to the climate changes", Mr. Zoran STOJANOVSKI, Executive member of the Council of Experts, ISA - Insurance Supervision Agency, Macedonia, stated during the agro panel of the second day of IIF - Property Insurance in a Stormy Era Conference. "The country is characterized by great climatic variability and is also sensitive to natural disasters, especially earthquakes and floods", he added.
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68% - the average loss ratio of TARSIM
by alexandru.ciuncan@mxp.ro, 2015-06-23
The average loss ratio of TARSIM, the Turkish agricultural insurance pool, has registered since the beginning of its activity in 2006 is 68%.
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EUROINS

TOP NEWS
AIIF 2015 brings together re/insurance specialists from more than 25 countries
by adina.tudor@mxp.ro, 2015-06-25
STANDARD & Poor's, AON Benfield, SWISS Re and LIMRA are just a few of the companies and specialized associations whose representatives will participate, this year, as speakers, at AIIF - Azerbaijan International Insurance Forum, the event taking place between 2-3 of July 2015 at Baku. Azerbaijan's Minister of Finances, Samir SHARIFOV, as well as Namik KHALILOV, Director, State Insurance Supervision Service, will join the debates regarding the current conditions on the insurance segment at local and regional levels.
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VIG in LITHUANIA: Acquisition of FINSALTAS delivers sustainable expansion in sales structure
by vlad.boldijar@mxp.ro, 2015-06-17
Vienna Insurance Group company COMPENSA Life SE has strengthened one of its key distribution channels in Lithuania with the acquisition of life insurance sales specialist FINSALTAS. With around 300 insurance brokers, FINSALTAS is Lithuania's largest life insurance sales company. In 2014 the company generated some EUR 7.1 million in life insurance premiums.
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Trust Re opens a Liaison Office in India
by mihai.cracea@mxp.ro, 2015-06-22
In a recent statement, Trust Re announced the opening of its Liaison Office in Bangalore, India. The office, which is officially referred to as Trust Re Liaison Office India, has the sole purpose of undertaking liaison activities; in other words it acts as a communication channel between the company's Head Office in Bahrain and business partners in India, including brokers and cedants.
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CROATIA Osiguranje increased its stake in its BOSNIAN subsidiary to 89%
by vlad.boldijar@mxp.ro, 2015-06-17
CROATIA Osiguranje announced on Zagreb Stock Exchange website it has raised its stake in its Bosnian subsidiary from 52.05% to 88.64%. Through a voluntary public bidding process, CROATIA Osiguranje purchased 11,031 shares of the Ljubuski-based insurer, which form 36.59% of the total shares issued by the issuer.
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STATISTICS: CZECH REPUBLIC, 1Q2015: Stagnation continues, sole trader insurance is growing
by vlad.boldijar@mxp.ro, 2015-06-17
The results of the Czech Insurance Association (CAP) member companies for the first quarter of 2015 show an increase of 0.5% in total annual premiums. Market stagnation mainly results from an ongoing decline in life insurance reaching almost 3%. Non-life insurance is still experiencing a mild recovery, namely from 2.3% at the end of 2014 to 2.6%.
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STATISTICS: The SLOVENIAN market shrank by about EUR 10 million in 1Q2015
by vlad.boldijar@mxp.ro, 2015-06-25
The Slovenian insurance market totaled EUR 547.10 million at the end of March 2015, 1.67% less (or EUR 9.27 million in absolute value) as compared with 1Q2014, statistics of the country's Insurance Association indicated. The value of paid claims increased in absolute value by EUR 3.63 million to EUR 332.61 million, of which EUR 100.30 million were life indemnities and EUR 232.31 million - claims related to non-life sub-classes.
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STATISTICS: SERBIAN insurers GWP up 27% in 1Q2015
by vlad.boldijar@mxp.ro, 2015-06-25
According to the Central Bank figures, in 1Q2015 the total premiums collected by 21 insurance companies operating in Serbia increased by 27.15% in nominal terms to RSD 19.99 billion (EUR 166 million). Non-life GWP generated 78.39% of the total premiums, while the share of life segment went down to 21.61%.
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STATISTICS: TURKISH market ends the first quarter with a 13% increase in GWP
by vlad.boldijar@mxp.ro, 2015-06-25
At the end of March 2015, the Turkish insurance sector totaled TRY 7.9 billion (EUR 2.8 billion), this representing a nominal increase of 13.1% y-o-y, according to the market statistics recently published on the Insurance Association of Turkey - TSB's website.
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STATISTICS: BULGARIAN insurers' Q1 GWP grows 13%
by vlad.boldijar@mxp.ro, 2015-06-25
The total of gross written premiums of Bulgarian insurers in the first three months of 2015 was BGN 506 million (EUR 258.7 million), up by 13.3% from a year earlier, according to the quarterly statistics published on the country's financial regulator website. The value of paid claims was up by 32% to BGN 259 million (EUR 132.5 million).
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STATISTICS: CYPRIOT insurers 1Q GWP down by 2.2% y-o-y
by vlad.boldijar@mxp.ro, 2015-06-25
Cypriot insurers posted aggregate gross written premiums of EUR 191.92 million in the first three months of 2015, down by 2.19% y-o-y, according to the quarterly market statistics published by the Insurance Association of Cyprus - IAC. At the same time, in the analyzed period, the local insurers paid about EUR 115 million in life and non-life claims.
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METROPOLITAN LIFE
INTERVIEW
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.
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VIG
CURRENT REPORTS
INSURANCE REPORT FY2014
INSURANCE REPORT 1H2014
MOTOR Insurance Report FY2014
PROPERTY Insurance Report FY2014
ROMANIA FY 2014
RUSSIA FY 2014
TURKEY FY 2013 and 1H2014
KAZAKHSTAN FY 2013 and 1H2014

JLT
TRUST RE

XPRIMM TV

Michael THEILMEIER, Senior Vice President, GEN Re
"25 years Nat Cat in CEE – observations & recommendations"


STATISTIC UPDATES
Czech Rep. 1Q2015
Turkey 1Q2015
Slovenia 1Q2015
Bulgaria 1Q2015
Serbia 1Q2015
Cyprus 1Q2015

BELARUS Re
GRECO

POINT OF VIEW
Nicoleta RADU-NEACSU
General Manager
PAID Romania

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 xprimm.com.
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EVENTS
AIIF - 2015 Azerbaijan International Insurance Forum
AIIF - 2015 Азербайджанский Международный Страховой Форум
July 2-3, 2015
Organizers: Azerbaijan Insurers Association and Media XPRIMM
For details: www.xprimm.com
WorldPensionSummit 2015
September 10-11, 2015
The Hague, Netherlands
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com
5th Annual Risk Management Forum
September 10-11, 2015
Vienna, Rennaisance Wien Hotel
Organizer: Global Leading Conferences KFT
Media Partner: XPRIMM Publications
For details: www.globalleadingconferences.com
Les Rendez-vous de Septembre 2015
September 12-17, 2015
Monte Carlo, Monaco
For details: www.rvs-monte-carlo.com
LIMRA European Annual Conference Paris 2015 - The Sharing Economy Opportunities
September 20-22, 2015
Paris, France
Organizer: LIMRA EMEA
Media Partner: XPRIMM Publications
For details: www.limra.com
12th ICAR - International CAtastrophic Risks Forum
October 1th, 2015
Parliament Palace - Bucharest, Romania
Organizer: Media XPRIMM
Media Partner: PRIMM Magazine - Insurance & Pensions
Global Summit for Insurance Innovation
October 7-8, 2015
Madrid, Spain
Organizer: INESE
Media Partner: XPRIMM Publications
For details: www.innovation.inese.es


PRESS CUTTINGS
VODAFONE GREECE extends insurance to call centre employees

ARMENIA: insurers paid AMD 3.4 billion in 16,423 car insurance compensation claims in 5 months

AZERBAIJAN: Regulation of medicine prices positive for medical insurance

BULGARIAN insurer EUROINS Jan-May premium income up 71.6%

EUROINS ROMANIA's Jan-May premium income jumps

FITCH affirms KAZAKHSTAN's AMANAT Insurance

Increased auto sales boosting insurance market growth in KAZAKHSTAN

Italians buy BULGARIA cars to spend less on insurance

KYRGYZ Parliament offers to create state insurance company

LATVIA: BTA insurer expects 5 pct growth in health insurance premiums this year

LATVIAN watchdog issues license to BTA Baltic Insurance Company

MOLDOVAN insurance companies back mechanism on issuing motor third party liability insurance policy on both banks of Dniester

POLAND's PZU bids below book value for Raiffeisen Polish arm

POLAND: PZU buys stake in Warsaw hospital

RUSSIA: Central Bank: On replacing and reissuing forms of licences of insurance agents

RUSSIA: where the insurance sector has grown despite the instabiliity

World Cup insurers risk flood of claims if Russia, Qatar lose bids

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

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