Insurance Newsletter, No. 325, September 15, 2016

Click here to subscribe!
Click here to unsubscribe!

Swiss Re

Swiss Re: Technological progress will change business models

Even though macroeconomic conditions and the overall industry environment remain challenging, Swiss Re believes that technological advances will create new and valuable efficiencies. The industry can increasingly access new risk pools emerging from the integration of data, analytics, and technology that addresses the insurance protection gap, creating new opportunities for growth.

These trends will challenge the industry to adapt quickly in order to provide greater value to customers and enhance resilience on a global scale. Reinsurers and insurers should work together to manage and profit from these advances.

Christian Mumenthaler, Swiss Re's Group Chief Executive Officer, says: "It's a special year this year, as it's the 60th anniversary of Les Rendez-vous de septembre. The industry has experienced many changes in this time. It is our goal to partner with our clients to help them tackle new markets and emerging risks also in the future. Being at the centre of the technological transformation that is unfolding is a key part of the strategic framework we launched last December. With our knowledge and differentiation we want to seize the momentum so we can help our clients adapt and thrive. I'm proud to say that Swiss Re has been at Monte Carlo from the start in 1957 - being a strong partner for our clients and working together on smart solutions."

Find more about the opportunities and challenges brought by the technological progress (click here).

Monte Carlo LIVE

Monte Carlo hot topics
by Alexandru CIUNCAN, 2016-09-12
As the 60th edition of Les Rendez Vous de Septembre closed its gates on September 15th, the re/insurance world had its eyes on the Monte Carlo, where the current trends future expectations and industry disruptors are being the focal points of the discussions.

The way insurance is currently sold is about to change
by Alexandru CIUNCAN, Adina TUDOR, 2016-09-15
EIOPA - The European Insurance and Occupational Pensions Authority published a Consultation Paper on draft Implementing Technical Standards (ITS) standardising the presentation format of the Insurance Product Information Document (IPID). The IPID will be provided to the customer prior to the conclusion of a non-life insurance contract in accordance with the provisions of the Insurance Distribution Directive (IDD).

IRSG published its 2013-2016 Activity Report
by Alexandru CIUNCAN, Adina TUDOR, 2016-09-12
EIOPA Insurance and Reinsurance Stakeholder Group (IRSG) published its activity report for the September 2013 - March 2016 period. The Group serves an important role for EIOPA by providing input on consultations and own initiative work based on the collective views of its wide-ranging members.

Credit Europe Asigurari
STATISTICS: GREECE, 1H2016: Changing life insurance classification system influenced the GWP rate on the life segment
by Vlad BOLDIJAR, 2016-09-15
The Greek insurers member of HAIC - Hellenic Association of Insurance Companies, reported a GWP of EUR 1.88 billion in the first half of 2016, or 5% less y-o-y, according to the half year report published on HAIC's website.

STATISTICS: GEORGIA, 1H2016: VIG subsidiaries are accounting for about 28% of local market GWP
by Vlad BOLDIJAR, 2016-09-15
In January-June 2016, the Georgian insurance market increased by 10.7% y-o-y in local currency to GEL 230 million (EUR 88.5 million), according to the data published by the Insurance Supervisory Office - ISO. The value of claims paid by insurers was up by 4% y-o-y to GEL 106 million.


Macedonia once again dealing with the natural forces' rage: 5.3 magnitude earthquake in Skopje, on Sunday
by Daniela GHETU, 2016-09-12
Just one month after the severe flooding which hit the country on August 6th, the citizens of the Macedonian capital city, Skopje, have been confronted once again with the natural forces' rage as a 5.3 magnitude earthquake struck on Sunday, fortunately without devastating effects.

SBERBANK Russia supports Pokemon Go players with free accident insurance product
by Daniela GHETU, 2016-09-15
Since July, Pokemon Go players are finding in the Russian SBERBANK a more than friendly environment: besides benefitting from the PokeStops points which allows them catching the missing Pokemon without wandering around the city's streets, a free accident insurance policy offered by the bank may indemnify players who get hurt during their "hunting" sessions up to RUB 50,000 (USD 800.)

The insured person in the new regulatory environment. Consumer or stakeholder?

Solvency II has always been seen by many as the Area 51 of the insurance world - mainly due to its technical nature - journalists and other stakeholders alike. It has something almost mystical about it... you know it's something - but you don't always get it! However, this article is not about Solvency II per se. It is about the coming of age of the consumer landscape. And it is about the future. It is about how consumers truly became stakeholders and why they need to be involved in writing good regulation more and more.

CFO Darryl BUTTON to leave AEGON

AEGON said that Chief Financial Officer Darryl BUTTON will leave the company on December 1, 2016, after that he has announced his intention to return to the United States with his family after four years in the Netherlands and will pursue new opportunities outside the company. Darryl BUTTON was appointed to the Executive Board of AEGON and CFO in May 2013 and will conclude his tenure with the company on December 1, 2016.

Two appointments within SCOR's central Group of functions

The French reinsurer SCOR announced two appointments within the central Group of functions: Claire Le GALL-ROBINSON, as Group General Secretary and Philippe VERDOIRE,Head of Group Cost Control and Budgeting, effective starting October 2016.

BULGARIAN insurance companies' assets grow 10.3% y/y at end-June

CROATIAN insurers end-August gross written premiums fall 0.7% y/y

UKRAINE: more expensive "Green card"

Greece 1H2016
Georgia 1H2016


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
XI Motor insurance seminar
September 28, 2016
XVI Baltic insurance conference
September 29, 2016
Riga, Latvia
For details: www.laa.lv
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
Insurance Fraud Forum
October 20-21, 2016
Munich, Germany
For details: www.fleming.events


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