Insurance Newsletter, No. 324, September 8, 2016

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ICAR 2016 - brings together top worldwide Nat Cat insurance competencies
by Daniela GHETU, 2016-09-08
ICAR's 2016 edition lines up an exquisite team of speakers who will share their views on the Nat Cat current issues in Bucharest, on October 11th. The effects of the climate change, the available solutions for mitigating the Nat Cat losses and provide for a sustainable growth of the agricultural insurance, as well as the newest strategies for claims handling in the property field insurance and the main issued of the Forum's agenda.

Ljubljana, "SII Lessons Learned" conference: Solvency II helps ensure policyholders protection and ultimately increase the trust in the system
by Daniela GHETU, 2016-09-08
No doubt, customers are more and more decisively holding the central spot in the insurance business, their needs and characteristic being more clearly outlined thanks to the digital technologies' contribution. On the supervision side, customers' rights protection is also becoming the current paradigm. "The ultimate goal of Solvency II is consumer protection," Sergej SIMONITI, Director of Insurance Supervision Agency of Slovenia, stated in this respect on the occasion of the insurance conference recently held in Ljubljana.

STATISTICS: CZECH REP., CAP: Insurance market growth rate increases by 2% y-o-y in H1
by Vlad BOLDIJAR, 2016-09-08
The total written premium of the members of the Czech Insurance Association (CAP) has increased by c. CZK 1.2 billion on year- on-year basis, which corresponds to 2% growth. The positive development of the insurance market in the first six months is still supported by non-life insurance, which reported c. 4.5% volume growth and thus again became the most dynamic segment. Also life insurance, which has been showing a more significant decrease in the last two years, slowed down the decline from 3.4% in the 1st quarter to 2.2%.

Credit Europe Asigurari
SWISS Re is the insurance industry's leader in sustainability for the third time in a row, according to 2016 Dow Jones Sustainability Indices
by Daniela GHETU, 2016-09-08
Swiss Re remains the insurance industry sector leader in the Dow Jones Sustainability Indices (DJSI) for the third consecutive year and the tenth time since 2004. The company was particularly recognised for understanding the sustainability issues that create risks and opportunities for the reinsurance business, and for closely cooperating with clients and public and private partners to create innovative solutions in the areas of climate and natural disaster risks, agricultural risks, sustainable energy and funding longer lives.

Top 10 global reinsurance ranking companies are writing over 70% of the total unaffiliated gross reinsurance premiums written
by Daniela GHETU, 2016-09-08
MUNICH Re and SWISS Re continued to top the global reinsurers' ranking in 2015, with almost double GWP volumes as compared with the next best performance, belonging to HANNOVER Re, shows the latest AM Best's Special Report* which presents the Top 50 reinsurance groups ranked by unaffiliated gross premium written in 2015.

CO Group, 1H2016: The company's restructuring yields good results; 55% y-o-y increase in the net profit
by Daniela GHETU, 2016-09-08
The CROATIA Osiguranje (CO) Group ended the first half of 2016 with GWP of HRK 1.8 billion, 1% up y-o-y, of which the parent company, leader of the Croatian insurance market, has accounted for HRK 1.6 billion, fairly meeting the underwriting volume achieved in the first half of 2015. CO Group's gross profit amounted to HEK 82 million, 44% up y-o-y, while the net profit amounted to HRK 62 million, 55% more y-o-y.


Romanian MTPL insurance market exceeded the RON 2 billion threshold in 1H2016
by Mihai CRACEA, 2016-09-08
The MTPL market accounted for more than half of the general insurance in Romania, according to the half year results published by the Financial Supervisory Authority (FSA), and expectations are that the growth will continue as prices stabilize and the combined ratio retreats towards the breakeven point.

RESO Garantia buys UNITY Re for USD 25 million; UNITY Re AM Best's rating under review following the transaction
by Oleg DORONCEANU, 2016-09-08
Russian RESO Garantia has recently acquired the specialized reinsurer UNITY Re from ASTROWAY Limited for RUB 1.6 billion (approximately USD 25 million), becoming thus its the sole owner, as the company's official press release states.

Azeri ALFA Insurance declared bankrupt
by Daniela GHETU, 2016-09-08
ALFA Insurance OJSC has been declared bankrupt on August 29th, following the decision of the Baku Administrative Economic Court No. 1, the Azeri news agencies inform. A Liquidation Commission has been established within the company, in charge with selling the companies' assets and paying its debts.

Softer For Longer: Are Global Reinsurers Ready for a Long Soft Cycle and an Evolving Business Landscape?

As negotiations for the 2017 reinsurance contracts begin in Monte Carlo, business conditions for the global reinsurance industry remain weak. S&P Global Ratings expects prices to continue declining in the absence of a very large loss. The soft cycle is proving to be deeper and longer than many market participants anticipated in 2013, with falling premiums increased competition putting pressure on reinsurers' top and bottom lines.

Peter BORCHERS appointed CEO of ALLIANZ X

German insurer ALLIANZ annoucenced that Peter BORCHERS will join ALLIANZ X management team as CEO as of October 1, 2016. ALLIANZ X is one of the key pillars of the Digital Transformation strategy of ALLIANZ Group and represents the company builder and venturing unit.

Thomas BUBERL officially becomes CEO of AXA

As of September 1st, 2016, Thomas BUBERL officially became Chief Executive Officer of the AXA Group, replacing Henri de CASTRIES after the latter's 17 years of leadership, while Denis DUVERNE became Non-Executive Chairman of the Board of Directors.

AXA plans to cut 650 jobs

KOSOVO's insurers 7-mo net loss more than quadruples

ROMANIA: Grawe enters the auto insurance market starting September

SERBIA's GDP growth slows to 2% y/y in Q2

Services in ARMENIA's finance sector 2.2% to AMD 139.1 billion in Jan-July 2016

Czech Republic 1H2016


6th Annual Managing Insurance Assets Conference
September 8-9, 2016
London, United Kingdom
Organizer: Marcus Evans
Media Partner: XPRIMM Publications
For details: marcusevans-conferences-paneuropean.com
Claims Transformation Forum
September 13-14, 2016
London, United Kingdom
Organizer: IQPC - International Quality and Productivity Center
Media Partner: XPRIMM Publications
For details: claimstransformation.com


Les Rendez-vous de Septembre 2016
September 10-15, 2016
Monte Carlo, Monaco
XPRIMM Publications stand at Fairmont Hotel
For details: www.rvs-monte-carlo.com


Chief Data Officer Forum Insurance 2016
September 15, 2016
Swissotel Chicago, Illinois, USA
Organizer: Corinium Global Intelligence
Media Partner: XPRIMM Publications
For details: www.chiefdataofficerinsurance.com
6th Annual Risk Management Forum
September 22-23, 2016
Vienna, Austria
Organizer: GLC Europe
Media Partner: XPRIMM Publications
For details: glceurope.com
Pillar III Reporting and Data Quality Conference
September 22-23, 2016
London, United Kingdom
Organizer: Marcus Evans
Media Partner: XPRIMM Publications
For details: marcusevans-conferences-paneuropean.com
18th Hydra Meeting
September 21-23, 2016
Hydra Island, Greece
Organizer: Hellenic Association of Insurance Companies
For details: www.eaee.gr
Life Insurance Conference
September 25-27, 2016
Pullman Barcelona Skipper,
Barcelona, Spain
Organizer: LIMRA EMEA
For details: www.limraemeaconference.com
IBF-Insurance Business Forum
September 26-30, 2016
Swissotel Kamelia, Sochi, Russia
Organizer: DELOVOY Format Group
Media Partner: XPRIMM Publications
For details: ins-df.com/ibf2016
The 8th International Istanbul Insurance Conference
October 6-7, 2016
Istanbul, Turkey
Organizer: Insurance Practitioners' Association
ICAR - The International CAtastrophic Risks Forum
October 11, 2016
SHERATON Hotel - Platinum Hall
Bucharest, Romania
Organizer: Media XPRIMM
Media Partner: XPRIMM Publications
For details: www.icarforum.ro


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