XPRIMM News
Insurance Newsletter, No. 289, December 3, 2015

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TOP EVENT - ON THE MOVE - TOP NEWS - PRESS CUTTINGS - CURRENT REPORTS

ON THE MOVE
Elisabeth STADLER replaces Peter HAGEN as VIG's Chairman of the Managing Board
by vlad.boldijar@mxp.ro, 2015-12-03
Austrian VIG Chief Executive Peter HAGEN will leave the company at the end of December and will be succeeded by DONAU Versicherung CEO Elisabeth STADLER, the insurer announced on its website.
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EIOPA elects new members of its Management Board
by daniela.ghetu@mxp.ro, 2015-12-03
The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) elected on December 2nd three new members of EIOPA's Management Board.
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TOP NEWS
CROATIA Osiguranje returns to profit following restructuring process
by vlad.boldijar@mxp.ro, 2015-12-03
For 3Q 2015, CROATIA osiguranje (CO) reported GWP of HRK 2.38 billion (EUR 312 million) up 3.7% y-o-y, according to the 3Q Report published on the CO's main shareholder, ADRIS Grupa, website. About 19% of total GWP was generated by the life segment, while the remaining 81% was accounted by the non-life sub-classes. At the same time, the CO Group members paid claims of about HRK 1.13 billion (EUR 149 million), 7.1% less y-o-y.
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ALLIANZ: Steps ahead to making climate protection part of its core business
by daniela.ghetu@mxp.ro, 2015-12-03
"Our knowledge of risk, our financial resilience and long-term investments horizon enable us to now offer more effective support for climate protection while making the most out of long-term opportunities for our customers", stated Oliver BATE, CEO of ALLIANZ SE with regard to the Group's announcement concerning its determination to make climate protection part of its core business.
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STATISTICS: HUNGARY insurance market grows 2.6% in 3Q
by vlad.boldijar@mxp.ro, 2015-11-27
Hungarian insurers' GWP rose 2.6% y-o-y to HUF 647 billion (EUR 2 billion) in the first nine months of the year, according to the figures published by the National Bank. Life insurance GWP was down by 1.5% to HUF 333 billion, while revenue from premiums on general insurance policies increased by 7.3% to HUF 314 billion.
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Successful reorganisation of BTA led to improved results in the Baltics and abroad
by daniela.ghetu@mxp.ro, 2015-12-03
BTA Group's member companies ended 3Q2015 with GWP of EUR 131.3 million, an amount fairly equal to the last years's one, but with significantly improved results in terms of profitability. Thus, as a Group release mentions, BTA Group's profit exceeded last year's profit, reaching EUR 6.2 million as a results of optimizing administrative processes and reducing operational costs.
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Credit Europe Asigurari
UNIQA profit rises 9.7% y-o-y in 3Q and keeps its outlook for 2015
by vlad.boldijar@mxp.ro, 2015-11-27
Austrian insurer UNIQA expects a full year pretax profit in the range of EUR 425 to 450 million, after announcing EUR 301.9 million in the first nine months (9.7% up y-o-y). The consolidated net profit rose by 29.6% to EUR 245.0 million and premiums written increased 8.3% to EUR 4.87 billion. At the same time, the combined ratio improved to 98.0% from 99.0% last year, the company said in a statement.
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STATISTICS: UZBEKISTAN, 3Q2015: Claims increased by 56.19%
by olesea.adonev@mxp.ro, 2015-12-03
In the first nine months of 2015, the volume of GWP collected by the Uzbek insurance companies totaled UZS 398 billion or EUR 135 million, up by 27% in national currency compared with 3Q2014, according to market data provided by the Ministry of Finance of the Republic of Uzbekistan.
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KYRGYZSTAN: Compulsory MTPL will come into force in 2016. Rates will be lowest among the Customs Union countries
by olesea.adonev@mxp.ro, 2015-12-03
The Law on Compulsory motor third party liability insurance (MTPL) in Kyrgyzstan will come into force at the beginning of 2016, stated Sanzhar MUKANBETOV, Chairman of the State Service for Regulation and Supervision of the Financial Market.
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EUROINS

QATAR Re receives regulatory approval to domicile in Bermuda
by daniela.ghetu@mxp.ro, 2015-12-03
QATAR Reinsurance Company Ltd announced that it has completed the process of re-domiciling to Bermuda. At the same time the company has been granted a Class 4 licence from the Bermuda Monetary Authority (BMA), following all regulatory approvals, effective today, December 3rd. As part of the re-domiciling QATAR Re's capitalisation will increase to approximately USD 500 million. The company will continue to benefit from a parental guarantee from QATAR Insurance Company S.A.Q. (QIC) and from the existing A / Stable and A (Excellent) ratings from Standard & Poor's and A.M. Best.
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Agricultural insurance becoming a priority in Azerbaijan
by olesea.adonev@mxp.ro, 2015-12-03
"No more than 0.8% of the planned expenditures of the Azerbaijan's State Budget for insurance of agricultural products have been used. Between 2007 and 2015 a budget of AZN 7.5 million was allocated in Azerbaijan for such financing, and only AZN 50,000-60,000 have been spent. The reasons of the current of agricultural insurance underdevelopment are both the farmers' awareness low level of about the availability of such possibility and the lack of insurance companies' interest because of high level of risk", stated Rahim NOVRUZOV, Chief adviser of the Finance & Accounting Department of the Ministry of Agriculture, quoted by abc.az.
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21 countries represented at the November Business Meetings of Reinsurers in Moscow
by olesea.adonev@mxp.ro, 2015-12-03
The XIV edition of the November Business Meetings of Reinsurers, which took place on November 24th - 25th, in Moscow (Russia) has gathered 250 representatives from 99 companies coming from 21 countries. Re/insurers from Azerbaijan, Armenia, Bahrain, Belarus, UK, Germany, Georgia, India, Kingdom of Jordan, Kazakhstan, Latvia, Panama, Russia, Romania, Syria, Uzbekistan, Ukraine, France, Switzerland and South Korea have attended the event together with the Russian market's professionals.
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AEGON
GLOBASIG

PRESS CUTTINGS
ARMENIAN insurance companies' premiums in 9 months grew by 0.13% y-o-y to AMD 22.5 billion

AZERBAIJAN may limit activity of insurers on compulsory motor vehicle insurance from next January

BOSNIA: Bosnia's Bobar Osiguranje to offer 38,000 shares on bourse

KAZAKHSTAN studies lower capital requirements for Islamic banks

SERBIA's Banca Intesa buys Delta Holding HQ building

UKRAINE: MTIBU approved the terms of reference of the project "Introduction of direct settlement"

UZBEKISTAN to sell state shares in major insurance companies to foreign investors
TOP EVENT
Jean ZENNERS, President of CoB, speaks at the XPRIMM motor insurance conference in Istanbul
by daniela.ghetu@mxp.ro, 2015-12-03
Jean ZENNERS, President of CoB, will be Keynote speaker at the 2016 edition of the International Insurance Forum organized by XPRIMM in Istanbul, on April 17-19, 2016 under the already well known generic title "Motor insurance - the road towards profitability".
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VIG
CURRENT REPORTS
AZERBAIJAN FY 2014 & 1H2015 supplement
KAZAKHSTAN FY2014 & 1H2015
RUSSIA FY 2014 & 1H2015
TURKEY FY2014 & 1H2015
ROMANIA 1H2015
XPRIMM Ins. Report CEE, SEE & CIS – FY2014 & 1H2015
XPRIMM Motor Ins. Report FY2014 & 1H2015 supplement
XPRIMM Property Ins. Report FY2014

JLT

STATISTIC UPDATES
Hungary 3Q2015
Uzbekistan 3Q2015

EVENTS
5th Annual Middle East and Africa Insurance Summit
January 19-20, 2016
Dubai, United Arab Emirates
Organizer: Fleming Gulf
Media Partner: XPRIMM Publications
For details: finance.fleminggulf.com

BELARUS Re
TRUST RE

5th Annual Insurance Claims Management Conference
January 21-22, 2016
Prague, Czech Republic
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details: www.uni-global.eu

6th Annual Bancassurance Conference - Russia & CIS
February 4-5, 2016
Moscow, Russia
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details: www.uni-global.eu
9th Annual BancAssurance Forum
9-10 February 2016
Madrid, Spain
Media Partner: XPRIMM Publications
For details: finance.flemingeurope.com

SRBA

The European Motor Insurance Summit 2015
February 11-12, 2016
Rome, Italy
Media Partner: XPRIMM Publications
For details: finance.flemingeurope.com
Creating & Selling SME Insurance Products & Services
February 11-12, 2016
Prague, Czech Republic
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details: www.uni-global.eu


Big Data & Analytics For Retail Financial Services
February 18-19, 2016
Prague, Czech Republic
Organizer: Uniglobal
Official Publication: XPRIMM Publications
For details: www.uni-global.eu
IIF 2016 - Motor Insurance - The Road towards profitability
April 17-19, 2016
Istanbul, Turkey
Organizers: Media XPRIMM and Istanbul Underwriting Center
Media coverage: XPRIMM Publications
For details: www.internationalinsuranceforum.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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