XPRIMM News
Insurance Newsletter, No. 296, February 4, 2016

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

FIAR
TOP NEWS
February 23, 2018 - the deadline for the IDD implementation
by Vlad BOLDIJAR, 2016-02-04
On February 2nd 2016, the Insurance Distribution Directive (IDD) was published in the Official Journal (OJ) of the EU. The publication in the OJ follows the official signature of the IDD on January 20th, 2016 by the Presidents of the Council and of the European Parliament.
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Insurance Europe: Proposed KID will not allow meaningful comparison of investment products
by Mihai CRACEA, 2016-02-03
The content and presentation of the key information document (KID) for packaged retail and insurance-based investment products (PRIIPs), which has been proposed by the European supervisory authorities (ESAs), will make it difficult for consumers to compare investment products, including insurance-based investments, according to Insurance Europe, the European insurance and reinsurance federation.
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EIOPA consults on the development of an EU Single Market for personal pension products
by Mihai CRACEA, 2016-02-03
The European Insurance and Occupational Pensions Authority (EIOPA) published a Consultation Paper on its advice related to the development of an EU Single Market for personal pension products (PPPs).
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STATISTICS: ALBANIA, FY2015: Rapid growth driven exclusively by the MTPL line
by Daniela GHETU, 2016-02-04
2015 ended for the Albanian insurance market with GWP of EUR 102.6 million, 23.7% up y-o-y and a total amount of paid claims of EUR 26.5 million, almost 31% up y-o-y.
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STATISTICS: BiH, FY2015: steady growth fueled by the MTPL line
by Daniela GHETU, 2016-02-04
The Bosnian insurance market saw a 4.7% y-o-y growth, to GWP of EUR 301 million, while paid claims remained fairly stable at the previous year's level, of EUR 128 million. It is however interesting to observe that the strongest contribution to the market growth belonged to insurers from the smallest administrative entity of the country, the Republica Srpska.
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TRIGLAV continues to support the improvement of road safety in SLOVENIA
by Daniela GHETU, 2016-02-04
Zavarovalnica TRIGLAV and the A.s.K. ( Aktivna signalizacija Korun) have announced the extension of the "Working together to improve road safety in Slovenia" campaign for 2016. Up to 12 dangerous sections throughout Slovenia will be equipped with the COPS@road smart warning system, and the selected municipalities will receive co-financing of up to EUR 5,000 from Zavarovalnica TRIGLAV.
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Credit Europe Asigurari
RUSSIA: RSA completes the sale of its participation in INTOUCH Insurance
by Vlad BOLDIJAR, 2016-02-02
RSA Insurance Group announced that it has completed the sale of its entire shareholding (c.75%) of its Russian unit - INTOUCH Insurance to local pension fund BLAGOSOSTOYANIE for around GBP 5 million.
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Establishment of the single Financial Market Supervisory Body announced in AZERBAIJAN
by Daniela GHETU, 2016-02-04
A new financial supervisory authority was established in Azerbaijan taking over all the functions of Azerbaijani State Committee for Securities, State Insurance Supervision Service under the country's finance ministry, Financial Monitoring Service under the Central Bank of Azerbaijan.
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STATISTICS: KAZAKHSTAN, FY 2015: Market returns on the ascending path
by Olesea ADONEV, 2016-02-04
Despite the worsening economic situation of the country, in 2015 local insurance companies were able to return to growth in GWP as compared with the previous decrease by 4.64% in 2014. Thus, in the analyzing period, the GWP reported by insurers totaled KZT 288 billion, up by 8%.
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ARMENIA takes steps towards entering into the Green Card System
by Olesea ADONEV, 2016-02-04
Armenia intends to become a member of the Green Card System, said Vahan AVETISYAN, Executive Director of the Armenian Motor Insurers Bureau, according to ArmBanks website.
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HANNOVER Re expects to achieve its profit targets despite the significant competition in most areas of P&C reinsurance
by Daniela GHETU, 2016-02-04
The situation on the worldwide P&C reinsurance markets was essentially unchanged y-o-y, concluded HANNOVER Re at the of the 1 January treaty renewals. The supply of reinsurance coverage continues to exceed demand, as large losses didn't occur and client's own retention is increasing.
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HUNGARY: AXA to sell its banking unit to OTP Bank
by Vlad BOLDIJAR, 2016-02-04
AXA announced that it has entered into an agreement to sell its Hungarian banking operations to OTP Bank. The French Group expects that the sale will result in an EUR 80 million loss in net income. In this regard, "a provision was booked in the Group consolidated financial statements as of December 31, 2015", AXA officials pointed out in a statement.
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EUROINS

MUNICH Re posts profit of EUR 3.1 billion for 2015 and raises dividend to EUR 8.25
by Daniela GHETU, 2016-02-04
Despite a difficult market environment, MUNICH Re posted a consolidated result of EUR 3.1 billion for 2015 - which almost matched the very good result of EUR 3.2 billion from the previous year. Shareholders are to participate in last year's success through a much higher dividend: subject to approval by the Supervisory Board and Annual General Meeting, the dividend will rise to EUR 8.25 (7.75) per share.
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WILLIS Re and MEASURE push forward drone technology for insurance
by Daniela GHETU, 2016-02-04
WILLIS Re announced on February 1st a strategic partnership with technology company MEASURE to advance the use of drones within the insurance industry and bring the very latest in drone technology to Willis Re clients.
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Understand the innovations of the European Payment Market at the 3rd Annual European Payments Forum
by Oana RACATEJ, 2016-02-04
The 3rd Annual European Payments Forum is an event dedicated to the future challenges that the players activating on the Financial Services domain must overcome, as well as the most efficient solutions to do it.
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The European Motor Insurance Summit starts next week in Rome
by Daniela GHETU, 2016-02-04
GENERALI's secret to telematics, successful antifraud mechanisms put in place by OMNIASIG or AXA, DLG's telematics experience etc. are just some of the most important takeaways of the forthcoming Motor Insurance Summit, which will take place next week in Rome, Italy. XPRIMM Publications are Media Partners of the event.
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EURASIA: The date of the 12th International Risk Management Conference has been set
by Olesea ADONEV, 2016-02-04
The 12th International Risk Management Conference will be held on April 14-15, 2016 in Almaty, Kazakhstan, organized and sponsored by Eurasia Insurance Company JSC. Traditionally, XPRIMM Publications will support the event as Media Partner.
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AEGON
GLOBASIG

PRESS CUTTINGS
ARMENIA: Number of insured cars has grown from 390,457 in 2011 to 457,878 in 2015

BULGARIA: Eurohold turns to non-cons after-tax loss in 2015

CHUBB reports operating income of USD 780 million for Q4 and USD 3.2 Billion for the Year

HUNGARY's Magyar Posta reports record for 2015

KAZAKHSTAN: A.M. Best Places Ratings of Standard Insurance Company, JSC Under Review With Negative Implications

TURKEY: Total insurance premiums forecast to rise by 10% this year
ON THE MOVE
Peter BRAUMULLER re-elected as Alternate Chair of EIOPA
by Vlad BOLDIJAR
The European Insurance and Occupational Pensions Authority (EIOPA) announced its Board of Supervisors has re-elected Peter BRAUMULLER, Managing Director at the Austrian Financial Market Authority (FMA), as EIOPA's Alternate Chair for a period of five years. Peter BRAUMULLER will continue to deputise for the Chairman of EIOPA, Gabriel BERNARDINO, who has been reappointed for a further five years.
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VIG
Vehbi KAAN ACUN is the new Assistant General Manager of MILLI Re, Turkey
by Daniela GHETU
On February 1st, MILLI Re has announced the appointment of its new Assistant General Manager, Mr. Vehbi Kaan ACUN, effective immediately. He will be in charge of MILLI Re's Singapore Branch and International Reinsurance Accounting, ECO-FAIR Pools and Foreign inward business departments.
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Imre SZTANO to replace Cornelia COMAN as CEO of NN Hungary
by Vlad BOLDIJAR
Starting March 1st, 2016, Imre SZTANO, currently Chief Sales Officer (CSO) of NN Hungary, will be appointed CEO of the company, this change waiting for regulatory approval. He will succeed Cornelia COMAN, who was CEO of NN Hungary since 2012: "She will be moving on to a new role within NN Group", the company announced in a statement.
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CURRENT XPRIMM REPORTS
AZERBAIJAN FY 2014 & 1H2015
KAZAKHSTAN FY2014 & 1H2015
RUSSIA FY 2014 & 1H2015
TURKEY FY2014 & 1H2015
ROMANIA 1H2015
Ins. Report CEE, SEE & CIS – FY2014 & 1H2015
Motor Ins. Report FY2014 & 1H2015
Property Ins. Report FY2014

JLT

STATISTIC UPDATES
Bosnia FY2015
Albania FY2015
Kazahstan FY2015


EVENTS
9th Annual BancAssurance Forum
February 9-10, 2016
Madrid, Spain
Media Partner: XPRIMM Publications
For details: finance.flemingeurope.com

BELARUS Re
TRUST RE

The European Motor Insurance Summit 2015
February 11-12, 2016
Rome, Italy
Media Partner: XPRIMM Publications
For details: finance.flemingeurope.com
Life Insurance Conference Russia 2016
February 18th, 2016
Moscow, Russia
Organizer: Business Summit of Future
Media coverage: XPRIMM Publications
For details: bsf-summit.ru
The Insurance Summit 2016
February 25, 2016
London, United Kingdom
Organizer: Economist Events
Media Partner: XPRIMM Publications
For details: insurance.economist.com

SRBA

AIF2016 - 2nd Annual African Insurance Forum 2016
March 3-4, 2016
Johannesburg, South Africa
Organizer: FEXTON Group
Media Partner: XPRIMM Publications
For details: ins.fextons.com
3rd Annual European Payment Forum
March 3-4, 2016
Amsterdam, Netherlands
Organizer: Global Leading Conferences
Media Partner: XPRIMM Publications
For details: glceurope.com


Russian Reinsurance Conference
XX Edition
April 6-7, 2016
President Hotel, Moscow
Organizers: All-Russia Insurance Association & DELOVOY Format Group
Media coverage: XPRIMM Publications
For details: ins-df.com
IIF 2016 - Motor Insurance - The Road towards profitability
April 17-19, 2016
Istanbul, Turkey
Organizers: Media XPRIMM and IUC
Media coverage: XPRIMM Publications
For details: www.internationalinsuranceforum.com
FIAR 2016 - The International Insurance - Reinsurance Forum
May 15-19, 2016
Brasov, Romania
Organizer: Media XPRIMM
Media coverage: XPRIMM Publications
For details: www.fiar.ro

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