XPRIMM News
Insurance Newsletter, No. 290, December 10, 2015

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

TOP NEWS
UKRAINE: VIG signed a purchase agreement to increase its ownership in GLOBUS to 100%
by vlad.boldijar@mxp.ro, 2015-12-09
GLOBUS Vienna Insurance Group (VIG) - one of the four Ukrainian subsidiaries of the Austrian insurer announced on its website that the Group has signed an agreement to buy the remaining 20% shares in GLOBUS VIG, increasing thus its ownership to 100%. Financial details were not disclosed. At the same time, VIG appointed Dmytro MARUZHENKO as new CEO, replacing Volodymyr HANCHAK.
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BELARUS Re, 3Q2015: Net profit more than 3 times higher, to BYR 171.9 billion
by olesea.adonev@mxp.ro, 2015-12-10
BELARUS Re's business saw a positive dynamics in 3Q2015. The net worth of the company rose by 12% to BYR 1,542.8 billion and authorized fund increased from BYR 1,307.0 billion in 3Q2014 to BYR 1,417.0 billion in the first nine months of 2015. At the same time, the reinsurer increased its net profit to BYR 171.9 billion from BYR 51 billion last year, the company said in a statement.
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ROMANIA: ERGO acquires CREDIT EUROPE Asigurari
by vlad.boldijar@mxp.ro, 2015-12-10
ERGO Austria International AG - a subsidiary of the German reinsurer Munich RE, has reached an agreement to buy the specialized Romanian non-life insurer CREDIT EUROPE Asigurari. "Representatives of the two companies have reached an agreement. The transaction will be finalized following all regulatory approvals", ERGO announced.
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RUSSIA: RSA to sell its entire participation in INTOUCH Insurance
by vlad.boldijar@mxp.ro, 2015-12-10
RSA Insurance Group announced it is selling all its shares (c.75%) in the Russian INTOUCH Insurance, to local pension fund BLAGOSOSTOYANIE for around GBP 5 million payable in cash. "It is anticipated that completion will take place in early 2016", the British insurer said in a statement.
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ROMANIA: Bucharest court approves the bankruptcy of ASTRA Asigurari
by vlad.boldijar@mxp.ro, 2015-12-04
On December 3rd, 2015, a Bucharest court of law approved the request submitted by the Financial Supervision Authority (ASF) for the bankruptcy of ASTRA Asigurari. The decision is not definitive. All of ASTRA's claims requests are managed by the Romanian Insurance Guarantee Fund - FGA. At the moment, the FGA has to wait for the court ruling regarding the bankruptcy of ASTRA to be definitive to be able to pay any claims.
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CZECH REP.: Green light for ALLIANZ to buy WUSTENROT's insurance business
by vlad.boldijar@mxp.ro, 2015-12-09
The Czech antitrust watchdog (UOHS) announced it allowed the Czech insurance branches of financial group WUSTENROT & WURTTEMBERGISCHE (the non-life insurer WUSTENROT Pojistovna and the life insurer WUSTENROT Zivotni Pojistovna) to be aquired by the German group ALLIANZ.
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Credit Europe Asigurari
STATISTICS: SLOVENIA, 3Q: 1.2% aggregate growth-rate due to the 5% expansion of the life segment
by vlad.boldijar@mxp.ro, 2015-12-08
Insurance premiums in Slovenia totaled EUR 1.51 billion in 3Q2015, 1.21% more compared with the January-September 2014, according to the figures published on SIA's (Slovenian Insurance Association) website. On the claims side, the aggregate value increased by 2.63% to EUR 986.36 million, of which EUR 295.86 million were life indemnities and EUR 690.51 million - paid claims related to non-life sub-classes.
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STATISTICS: SERBIA, 3Q2015: Two insurers control more than half the market
by vlad.boldijar@mxp.ro, 2015-12-08
In January-September 2015, the Serbian insurance market totaled RSD 60.6 billion (EUR 506 million), up by 18%, according to the data published by the National Bank of Serbia. At the same time, the value of paid claims increased by 10.6% y-o-y to RSD 22 billion (EUR 185 million).
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STATISTICS: LATVIA: Insurers' premiums totaled almost EUR 400 million at the end of September
by vlad.boldijar@mxp.ro, 2015-12-08
The Latvian insurance market totaled EUR 396 million at the end of September 2015, increasing by 4.6% compared with the same period of last year, according to figures published by the Financial and Capital Market Commission - FKTK. At the same time, as FKTK's figures showed, the insurance companies paid EUR 225.2 million in claims (9.5% more y-o-y).
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Starting April 1st, 2016, MOLDAVIAN drivers will not be able to buy Green Card insurance
by vlad.boldijar@mxp.ro, 2015-12-10
Starting April 1st, 2016, Moldavian drivers will not be able to buy Green Card policies from local companies, according to the most recent decision taken by the National Bureau of Motor Insurers (BNAA). According BNAA's statistics, on December 7th, there were 39,589 valid Green Card policies issued by 10 authorized insurers.
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AZERBAIJAN: PASHA Life will pay up to EUR 121,000 for each family of the oilmen killed in the SOCAR's offshore platform fire
by daniela.ghetu@mxp.ro, 2015-12-10
Seven oilmen killed and 23 still missing after the fire which broke out on the offshore SOCAR platform #10 in the Caspian Sea, on December 4th. Insurance indemnisations paid by PASHA Life Insurance to the families of the dead oilmen may reach up to AZN 140,000 (~EUR 121,000), according to Salim MUSLIMOV, Azerbaijani minister for labor and social protection of population.
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EUROINS

SWISS Re unveiled future strategy for continued growth
by daniela.ghetu@mxp.ro, 2015-12-10
Systematic and fast allocation of capital to access new and existing risk pools and revenue streams are the core lines of SWISS Re's strategic framework to position the company strongly vis-à-vis current and future opportunities and challenges facing the re/insurance industry, as announced on the occasion of its latest Investors' Day, on December 8th.
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STATISTICS: CYPRUS, 3Q2015: The market remained relatively close to last year's level
by vlad.boldijar@mxp.ro, 2015-12-08
According to the quarterly report on insurers' performance published by the Insurance Association of Cyprus (IAC), between January and September 2015 the local insurance industry remained approximately at the 3Q2014 level, the volume of gross premiums written by the member companies totaling EUR 550 million (up by 0.2% y-o-y).
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TALANX strengthens bancassurance presence in Italy
by vlad.boldijar@mxp.ro, 2015-12-04
Hannover-based insurer TALANX announced that it is strengthening its bancassurance business in Italy by acquiring the insurance companies belonging to the Italian banking group Gruppo Banca Sella.
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ZURICH Insurance announced Martin SENN steps down as CEO
by vlad.boldijar@mxp.ro, 2015-12-04
Switzerland's largest insurer - ZURICH Insurance Group - annouced its Chief Executive Martin SENN is stepping down, with Chairman Tom de SWAAN immediately taking his place as interim CEO. ZURICH Insurance said he will leave the company at the end of the year, while the process to appoint Martin SENN's successor is underway.
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AEGON
GLOBASIG

ON THE MOVE
GENERALI appointed new country managers in Serbia and Poland
by vlad.boldijar@mxp.ro, 2015-12-09
Dragan FILIPOVIC will be GENERALI's new country manager in Serbia and Montenegro. He will replace Adrea SIMONCELLI who will become in turn the new country manager of GENERALI Poland. Both changes will become effective with starting January 1st, 2016.
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PRESS CUTTINGS
Bank of Russia suspended the licence of Insurance Company AgroS

BULGARIAN parliamentary committee allows insurance to be contracted electronically

Credit Agricole returns to GREECE as major shareholder in Alpha Bank

HUNGARY: CIG Pannonia books HUF 197 mln after-tax profi

Pacolli elected as head of Administrative Council of KOSOVO Insurance Bureau

SERBIA: NBS has produced a Draft Law on the Protection of Financial Services Consumers in Respect of Distance

TAJIKISTAN earthquake rocks Central Asia
TOP EVENT
Registration is now officially open for "IIF 2016 - Motor Insurance, the road towards profitability"!
by adina.tudor@mxp.ro, 2015-12-10
Did you book your seat at this spring's main event dedicated to the motor insurance market? The registration is now officially open for "IIF 2016 - Motor Insurance, the road towards profitability". Already at its 6th edition, the conference reunites professionals of the motor insurance markets from more than 20 countries of the CEE and CIS regions, as well as from Turkey and the Western Europe.
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INTERVIEW
Andrey T. UNTON
General Director
BELARUS Re (Republican Unitary Enterprise "Belarusian National Reinsurance Organization")

BELARUS Re cooperates with companies in South-Eastern Asia, participating in a number of property facultative reinsurance programs. In addition, facultative business from such countries as UAE, Saudi Arabia, Bahrain, Azerbaijan and Turkey is recently started to increase. Next year, as in previous ones, BELARUS Re will focus on the international market. Further we plan to expand geographically in order to find new promising projects.
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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
Slovenia 3Q2015
Serbia 3Q2015
Latvia 3Q2015
Cyprus 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
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Development Director: Mihaela CIRCU

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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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