Insurance Newsletter, No. 307, April 21, 2016

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IIF 2016 - Motor Insurance - the road towards profitability
Opportunities, challenges and profitability on the motor insurance segment, analyzed during IIF 2016 - "Motor insurance - the road towards profitability"
by Alexandru CIUNCAN, 2016-04-18
The latest developments in regulations and legal issues concerning motor insurance, opportunities and challenges, as well as new technologies supporting this insurance segment were among the themes analyzed during IIF 2016 - "Motor insurance - the road towards profitability".

The latest issue of MOTOR Insurance Report was officially launched
by Adina TUDOR, 2016-04-18
The latest issue of MOTOR Insurance Report, the specialized magazine focusing on the motor insurance markets in CEE, CIS and SEE, was officially launched during IIF 2016 - "Motor insurance - the road towards profitability".

Dr. Thomas BRINKMANN, FRISS: Don't focus only on detecting fraud, when we are able to prevent it
by Mihai CRACEA, 2016-04-18
"A fraud scheme can develop out of an opportunity. As it could happen in every country. But such a scheme could accelerate and grow very fast", said Dr. Thomas BRINKMANN, Country Manager for Greece and Cyprus, FRISS.

TURKEY: 1 out of every 3 policies sold is a MTPL one; in 2015 over 15,9 million MTPL policies have been
by Daniela GHETU, Mihai CRACEA, 2016-04-21
The Turkish insurance market "has achieved a 41% increase in the premium production between 2010 and 2015, denominated in USD", stated Mehmet Akif EROGLU, General Secretary, Insurance Association of Turkey, adding that at the moment the industry employs over 75,000 people.

Alper TAN, TSB: Right now we don't know if direct compensation will work or not. We will see the results
by Mihai CRACEA, 2016-04-19
"If the client has Casco insurance, his behavior will not change after implementing direct settlement. They will continue to come to their own Casco insurers. The only change will be to insured persons who do not have Casco policies", Alper TAN, Director, TSB - Insurance Association of Turkey, pointed out.

James DALTON, ABI: "Insurers in UK receive a claim for whiplash on average every minute of every hour of every day"
by Mihai CRACEA, 2016-04-19
The British insurers are currently facing "a whiplash epidemic", James DALTON, Director of General Insurance Policy, Association of British Insurers - ABI explained.

Credit Europe Asigurari
PAID Romania: EUR 5.5 million gross profit fueled by a calm year
by Adina TUDOR, Andreea RADU, 2016-04-21
PAID, the Insurance Pool against Natural Disasters in Romania, ended 2015 with a 7% increase of the gross written premiums volume and a gross profit of RON 25 million, which will be used to improve the company's own funds, the society announced in a press release.

VERISK Analytics acquires Risk Intelligence Ireland
by Mihai CRACEA, 2016-04-18
VERISK Analytics announced the acquisition of Risk Intelligence Ireland, a leading provider of fraud detection, compliance, risk control, and process automation services to the Irish insurance industry.

ASF places CITY Insurance under financial recovery procedure
by Andreea RADU, 2016-04-18
The Financial Supervisory Authority from Romania - ASF has placed the local company CITY Insurance under financial recovery procedure. CITY Insurance must appoint an auditor and submit to the ASF a financial recovery plan, within 20 days.

All EIG units reported positive rates in Q1
by Vlad BOLDIJAR, 2016-04-21
The Bulgarian EUROINS Insurance Group, reported for the first quarter of 2016 a 10.1% increase of its aggregate GWP to EUR 60.0 million, according to preliminary statistics published by the group. Positive rates were reported all subsidiaries, as follows: EUROINS Bulgaria (+37.4%), EUROINS Macedonia (+5.8%), EUROINS Life (+4.9%) and EUROINS Romania (+4.7%).

EUROINS Romania completes RON 200 million capital increase
by Andreea RADU, 2016-04-18
Romanian non-life insurer EUROINS announces the completion of the capital increase of RON 200 million.


Telematics - The Game Changer for Motor Insurance
by Daniela GHETU, 2016-04-21
Do not miss the opportunity to attend the lecture of a leading expert in telemetry Matteo Carbone from the Italian Bain & Company at the 1st International Motor Insurance Conference in Sofitel Budapest Chain Bridge Hotel, Hungary on 27 - 29 April 2016!

STATISTICS: UKRAINE, FY2015: GWP earned by insurers has shown a double digit growth, up by 11.1%
by Olesea ADONEV, 2016-04-21
During the last five years, the Ukrainian insurance market saw a steady growth in local currency, except for the year 2014. In 2015 the volume of GWP earned by insurers has shown a double digit growth, up by 11.1%. However, denominated in European currency, the market GWP went down by 19%.

STATISTICS: ARMENIA, FY2015: Record net profit in past five years, up by 71% y-o-y
by Olesea ADONEV, 2016-04-21
Benefiting from the positive results recorded on the voluntary types of insurance, the Armenian insurance market saw a y-o-y GWP increase of 4.3% in 2015. Moreover, it recorded a record net profit in past five years, reaching to AMD 2.5 billion, up by 71% y-o-y, according to ArmInfo News Agency.

Photo gallery and presentation: The 20th Annual Reinsurance Conference, Moscow, Russia
by Olesea ADONEV, 2016-04-19
The 20th Edition of the Annual Reinsurance Conference, which took place on April 6th and 7th, in Moscow (Russia) has been concluded. The event was co-organized by All-Russian Insurance Association (ARIA) - Reinsurers' Committee and DELOVOY Format Group. XPRIMM Publications supported this event as Media Partner.
JLTFIAR 2016 - European insurance market's capital set in Brasov

9 conferences and workshops, hundreds of bilateral meeting, several networking opportunities and one of the most powerful team of speakers ... shortly speaking, the 2016 edition of FIAR - The International Insurance-Reinsurance Forum is almost ready for start in Brasov, Romania.

Motor insurance, life and health insurance, employee benefits, reinsurance and risk management, insurance intermediation as well as private pensions have all have found a place on the FIAR's 2016 agenda.

Ukraine FY2015
Armenia FY2015


Motor Insurance Conference
April 28-29, 2016
Budapest, Sofitel Budapest Chain Bridge Hotel
Organizers: Croatian Institute for Insurance & XPRIMM
Media coverage: XPRIMM Publications, Svijet Osiguranja
For details: www.xprimm.com

2nd Annual Global Insurance Distribution & Bancassurance Conference
May 12-13, 2016
Munich, Germany
Organizer: C-parity
Media Partner: XPRIMM Publications
For details: www.c-parity.com
4th Annual Operational Excellence in Insurance Forum
May 12-13, 2016
Amsterdam, the Netherlands
Radisson Blu Hotel
Organizer: Fleming
Media partner: Xprimm Publications
For details: www.fleming.events


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
2nd Annual Credit Risk Management Forum
May 19-20, 2016
Amsterdam, the Netherlands
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details: www.glceurope.com
TARSIM International Agricultural Insurance Symposium
June 2-3, 2016
Istanbul, Turkey
Organizer: TARSIM - Agricultural Insurance Pool of Turkey
For details: iais.tarsim.gov.tr
4th Annual Insurance Claims Forum
June 2-3, 2016
Prague, Czech Republic
Organizer: Fleming
Media partner: Xprimm Publications
For details: www.fleming.events

ARMENIAN insurance sector's loss rate down 1% in March

Insurance pool in fact created in AZERBAIJAN

Uniqa Raised Embedded Value in 2015 by Over 13%

AZERBAIJAN FY 2014 & 1H2015
KAZAKHSTAN FY2014 & 1H2015
TURKEY FY2014 & 1H2015
Ins. Report CEE, SEE & CIS – FY2014 & 1H2015
Motor Ins. Report FY2015
Property Ins. Report FY2014