XPRIMM News
Insurance Newsletter, No. 328, October 6, 2016

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

ISTANBUL LIVE
The International Istanbul Insurance Conference brings into debate the digital insurance market
by Adina TUDOR, 2016-10-06
The 8th International Istanbul Insurance Conference, organized by the Insurance Practitioners' Association, which takes place between the 6th and the 7th of October, 2016, in Istanbul, brings into debate the concept of digitalization in the insurance industry.
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The motor lines generate almost 50% of the insurance industry's GWP in Turkey
by Alexandru CIUNCAN, 2016-10-06
Today kicked off in Istanbul the 8th Edition of the International Istanbul Insurance Conference, which focuses on the topic of digital insurance market. "We decided to continue with the organization of this traditional event, despite passing through a difficult situation in Turkey. We believe in our country", Menekse UCAROGLU, President of IUC, stated in the opening of the event which is hosted by MILLI Re.
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Enterprise processes, to be changed by Blockchain technologies
by Alexandru CIUNCAN, 2016-10-06
Blockchain technology will allow for a change of enterprise processes - from manual ones to digital, according to the Assistance Vice President of PCS, Tom JOHANSMEYER, who spoke during the 8th edition of the International Istanbul Insurance Conference. Commercial insurers still suffer from the fact that paper-based workflow logic underlies automation.
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TOP NEWS
STATISTICS: ROMANIA, 1H2016: Motor insurance lines' efficiency ratios have improved
by Daniela GHETU, 2016-10-06
The Romanian insurance market saw a 9.75% increase in GWP (10.93% in national currency), one of highest dynamics recorded in the last years. Yet, it is worth noting that the positive result is not as much as a result of the Romanian economic growth, but of the complex changes undergone by the MTPL segment.
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Romania: ASF is implementing a new methodology in the field of consumer protection
by Adina TUDOR, 2016-10-03
ASF - The Financial Supervisory Authority in Romania has developed three indicators that allows it to determine, after analyzing the petitions registered at ASF, the compliance degree of the conduct of the supervised entities.
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STATISTICS: MACEDONIA, 1H2016: Recently launched UL insurance products support the life insurance market's growth
by Daniela GHETU, 2016-10-06
The Macedonian insurance market saw a 4% y-o-y increase in the GWP volume, to EUR 72.7 million. In absolute terms, the life and non-life insurance segments' contribution to the GWP growth was fairly equal. Still, in relation to the size of the two business lines, the growth in life insurance was the most impressive.
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STATISTICS: SERBIA, 1H2016: Motor Hull insurance line regains momentum after being on a negative trend for years
by Daniela GHETU, 2016-10-06
"A positive trend of nominal insurance premium growth, which has lasted for more than a decade, continued into this year," it is how Dusko JOVANOVIC, Secretary General, Association of Serbian Insurers - UOS has characterized the Serbian insurance market's evolution in the first half of 2016.
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ICAR 2016
STATISTICS: UKRAINE, 1H2016: Despite the shrinking number of insurers, the premiums have seen double digit growth rates
by Olesea ADONEV, 2016-10-06
In the first half of 2016, GWP collected by local insurers totaled UAH 16.4 billion, up by 21.2% y-o-y, of which UAH 15.1 billion were collected on the non-life insurance segment (up by 20%), while life insurance GWP marked a significant increase, by almost 40%, indirectly supported by the halving number of surrendered 5 years contracts.
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AXA and ALLIANZ the best insurance brands worldwide in the Interbrand's Best Global Brands ranking for 2016
by Daniela GHETU, 2016-10-06
AXA and ALLIANZ are the only insurers included in the Interbrand's Top 30 top growing brands for 2016. AXA's brand value went up by 14%, to USD 10,579 million, while ALLIANZ saw a 12% increase of the same indicator, to USD 9,528 million.
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EIOPA sets its strategic direction for the next three years
by Daniela GHETU, 2016-10-06
The European Insurance and Occupational Pensions Authority (EIOPA) published on October 4th its Single Programming Document (SPD) outlining EIOPA's strategic direction of its activities over the next three years (2017 - 2019). EIOPA continues to focus on three main strategic priorities: Enhancing supervisory convergence; Reinforcing preventive consumer protection; Preserving financial stability .
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Credit Europe Asigurari
AXA has completed the acquisition of LIBERTY Ubezpieczenia in Poland
by Daniela GHETU, 2016-10-06
AXA announced on September 30th that it had completed the acquisition of LIBERTY Ubezpieczenia, the Polish Property & Casualty operations of LIBERTY Mutual Insurance Group for a total consideration of PLN 101.3 million (or Euro 23.5 million). The figure is subject to purchase price adjustment.
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Top EIOPA and Insurance Europe representatives are speaking at the Croatian Insurance Days conference
by Daniela GHETU, 2016-10-06
Justin WRAY, Head of policy Unit at EIOPA and William VIDONJA, Head of conduct of business, Insurance Europe are the special guests and keynote speakers of the 2016 edition of the Croatian Insurance Days conference. The event will take place in Opatija, Croatia, on 9- 11 November, with XPRIMM Publications as Media Partner.
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AZERBAIJAN: The future compulsory medical insurance will cost citizens no more than EUR 60/year
by Daniela GHETU, 2016-10-06
One of the main questions the public is interested in with regard to the future compulsory medical insurance in Azerbaijan, the cost level, seems to have received a first answer which mentions an annual sum no larger than AZN 100 (~ EUR 60) per person.
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ON THE MOVE
ACHMEA appoints Michel LAMIE as Chief Financial Officer

ACHMEA has appointed Michel LAMIE to ACHMEA's Executive Board with effect from 1 January 2017. He will succeed Huub ARENDSE as Chief Financial Officer (CFO) in April 2017 following the Annual General Meeting of Shareholders. When he was appointed in 2013, ARENDSE said that he would be available for a period of four years. Approval of the appointment of Michel LAMIE has been obtained from the Dutch Central Bank (DNB).
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WILLIS Re appoints Printhan SOTHINATHAN as specialty analytics head

WILLIS Re announced the appointment of Printhan SOTHINATHAN as Managing Director, Head of WILLIS Re Specialty Analytics. SOTHINATHAN will begin his role in January 2017 and will report to Graeme MOORE, Chief Executive Officer of WILLIS Re Global Specialty.
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Adrian MARIN, CEO GENERALI Romania is the new President of Romanian insurers' professional body

The Romanian Insurance Association (UNSAR) has elected Adrian MARIN, CEO of GENERALI Romania as President for a three-year period, replacing Remi VRIGNAUD, the former general manager of ALLIANZ-TIRIAC who headed the insurers' professional body in the last four years.
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Damian JAWORSKI reappointed as Chair of the EIOPA Review Panel

Damian JAWORSKI, Director of Analyses and International Cooperation Department in the Polish Financial Supervision Authority (KNF), has been reappointed as Chair of the EIOPA Review Panel.
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PRESS CUTTINGS
AZERBAIJAN: About 800,000 cars insured for past 3 quarters of 2016

AZERBAIJAN: Standard Insurance not to be closed

BULGARIA: Belgium's KBC eyes United Bulgarian Bank

Marsh & McLennan Agency Acquires Vero Insurance

NN Group to transfer its Irish reinsurance portfolio to Canada Life
TOP EVENT
Register now to Baden - Baden XPRIMM Reception!
The Kurhaus Casino from Baden Baden will host on Sunday, October 23rd the 8th edition of the XPRIMM Reception.
Baden - Baden XPRIMM Reception represents an opportunity for the CEE & CIS insurance industry to make itself known during the annual meetings held in Baden - Baden.
Click here to register.

Seven new XPRIMM titles on the Baden Baden stands

Seven new titles will be available this year on the XPRIMM Baden Baden press stands opened in the Kurhaus Casino, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.
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INTERVIEW
Zhanat B. KURMANOV
Director of the Department of Insurance Supervision
The National Bank of Kazakhstan

At the beginning of the 2000's, when the insurance industry was not sufficiently capitalized and could not take its own retention large risks, about 60-70% of premiums were ceded for reinsurance abroad. In recent years, the domestic insurance market has grown, and the total premiums ceded to foreign reinsurers fell to 35-30%. Nevertheless, we cannot say that potential of the insurance market is fully involved in the reinsurance business.
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STATISTIC UPDATES
Macedonia 1H2016
Romania 1H2016
Serbia 1H2016
Ukraine 1H2016

POINT OF VIEW
Murat KAYACI
Chairman of the Board
DASK - The Turkish Catastrophe Insurance Pool

DASK has developed a target disaster management model for handling both heavy and minor damage cases. The methodology for assessing earthquake damage to a building is developed in collaboration with universities and it is scientifically proven with similar methods. In order to build an infrastructure that enables DASK to manage claims caused by any kind of catastrophic events including severe earthquake, cooperation with expert business partners was engaged.
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VIG
JLT

XPRIMM EVENTS
ICAR - The International CAtastrophic Risks Forum
October 11, 2016, Bucharest, Romania

Baden-Baden XPRIMM Reception
October 23, 2016, Baden Baden, Germany
AZERI Evening - Baden-Baden
October 23, 2016, Casino Restaurant Sommergarten, Baden Baden, Germany
European Consumer Protection Conference
February 16, 2017, Vienna, Austria
IIF 2017 - MOTOR Insurance Conference
February 17, 2017, Vienna, Austria

TRUST RE

PARTNER EVENTS
8th Annual Insurance Distribution Strategies
13-14 October 2016, Amsterdam, Netherlands
MARSH
EUROINS

Insurance Fraud Forum
October 20-21, 2016, Munich, Germany
Baden Baden Meetings 2016
October 23-26, 2016, Baden Baden, Germany
VIII International Conference "Corporate Insurance"
October 26, 2016, Moscow, Russia

GLOBASIG

VIth AIDA Europe Conference
November 3-4, 2016, Vienna, Austria
WorldPensionSummit 2016
November 9-10, 2016, The Hague, Netherlands
2nd Annual Practical ORSA Feedback and Risk Appetite
November 24-25, 2016, London, United Kingdom


CURRENT XPRIMM REPORTS
AZERBAIJAN FY 2014 & 1H2015
KAZAKHSTAN FY2014 & 1H2015
RUSSIA FY 2015
TURKEY FY2014 & 1H2015
ROMANIA FY2015
Ins. Report CEE, SEE & CIS – FY2015
Motor Ins. Report FY2015
Property Ins. Report FY2015

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