XPRIMM News
Insurance Newsletter, No. 332, November 3, 2016

Click here to subscribe!
Click here to unsubscribe!
www.xprimm.com
INTERVIEW - ON THE MOVE - POINT OF VIEW - ANALYSIS - TOP EVENT - TOP NEWS - CURRENT REPORTS

TOP NEWS
VIDEO: Nicola RAUTMANN, Swiss Re: In the CEE it is important to transfer economic growth to insurance and reinsurance
by Mihai CRACEA, 2016-11-03
"In most of the markets in the CEE and CIS region we hold a leading position and that is also something we held on to throughout the year", underlined Nicola RAUTMANN, Market Executive, Austria, CEE, Russia and the CIS in an interview for www.xprimm.com.
More

Telematics expected to achieve a rather limited popularity in Germany, both from the insurers' and customers' perspective
by Daniela GHETU, 2016-11-03
The growth of telematics car insurance policies is likely to be slow in Germany because of limited interest from both insurers and customers, Fitch Ratings says in a statement released on November 2nd. This is in contrast to the UK, where they expect telematics to quickly achieve a significant share, at least among young drivers.
More

STATISTICS: ALBANIAN insurers posted about EUR 79 million in GWP at the end of September
by Vlad BOLDIJAR, 2016-11-03
The Albanian insurance market reached over ALL 10.8 billion (EUR 78.6 milion) for the period January - September 2016, or 7.2% more y-o-y, according to the quarterly market statistics published by AFSA - Albanian Financial Supervisory Authority. During the analysed period, the number of issued insurance contracts reached 808,881 showing a decrease of 0.4% y-o-y. The total of paid claims was about ALL 2.9 million or 27.8% more, compared to the period 3Q 2015.
More

STATISTICS: KOSOVO insurers' Jan-Sept GWP rises 3% y-o-y
by Vlad BOLDIJAR, 2016-11-03
In 3Q 2016 the Kosovo insurers reported a 3% y-o-y increase in GWP to EUR 62.9 million, as the Central Bank - CBK data showed. MTPL premiums accounted for about 65% of total GWP, of which a share of 56% - third party liability policies, while the share of Border policies was close to 9%. Other types of voluntary segments accounted for ~35% of total market.
More

Consumer protection in the Bulgarian context
by Daniela GHETU, 2016-11-03
After being dormant for decades, the Bulgarian insurance and occupational pensions market has finally reached the point of considering consumer protection as a major issue of the financial environment. This will also be the hot topic of the first international conference, organized by the Bulgarian IRSG member at EIOPA and sponsored by Betterfinance, which will take place on 8 November 2016 in Sofia, Bulgaria. XPRIMM Publications support the event as Media Partner.
More

Credit Europe Asigurari
CCN will organize in Bucharest a workshop focused on improving technical results of the MTPL portfolio
by Adina TUDOR, 2016-11-03
Claims Corporation Network will organize, on the 10th of November, in Bucharest, a workshop aimed at highlighting the innovative solutions that can increase cost control for insurance companies, especially those active on the motor segment.
More

Swiss Re: Net income of USD 3.0 billion for 3Q2016
by Daniela GHETU, 2016-11-03
Swiss Re reported net income of USD 3.0 billion for 3Q 2016, despite the difficult market environment, reads the latest press release issued by the group. All Business Units contributed to this strong result. Net income in Property & Casualty Reinsurance was of USD 1.5 billion, while for Life & Health Reinsurance stood at USD 635 million.
More

AON 3Q2016: Flat revenue and 4% increase in profit
by Vlad BOLDIJAR, 2016-11-03
Insurance brokerage company AON announced its net income increased 4% to USD 314 million in the third quarter of 2016 compared with USD 303 million a year before. Net income attributable to shareholders was up by USD 12 million to USD 307 million, while the net income per share attributable to AON shareholders was USD 1.14 (vs. USD 1.04 a year before).
More

SCOR's 3Q net income hit by NatCat events
by Vlad BOLDIJAR, 2016-11-03
The Paris-based reinsurer SCOR reported a 11% y-o-y decrease in its nine months net income to EUR 438 million "due to a higher number of natural catastrophes and a challenging macroeconomic environment", while the value of GWP was up by 4.4% y-o-y to EUR 10.21 billion, the French reinsurer annouced in a statement.
More

A.M. Best upgrades TRIGLAV rating to 'A'
by Vlad BOLDIJAR, 2016-11-03
Slovenian insurance group TRIGLAV announced that A.M. Best Credit Rating Agency upgraded the financial strength rating of "A-" to "A" (Excellent) and the issuer credit rating of "a-" to "a" (Excellent) of Slovenian insurer Zavarovalnica TRIGLAV and its reinsurance unit Pozavarovalnica TRIGLAV Re. "The ratings of both companies have a stable medium-term outlook".
More

ANALYSIS
Standard & Poor's: Russia's property/casualty insurance sector carries high country risk

S&P assesses insurance industry and country risk for the Russian property / casualty (P/C) insurance sector as high. Our assessment, which covers both personal and commercial lines, reflects our view of the high country risk and moderate industry risk that affects this sector.
More

ON THE MOVE
RMS Strengthens Executive Team with Appointment of Michael STEEL

RMS announced on November 1st the appointment of Michael STEEL to its executive team in the position of Global Head of Solutions. He will also chair the company's Europe Leadership Council, and provide overall regional leadership to the RMS London and Zurich offices.
More

SCOR - two appointments within the central Group Finance functions

French reinsurer SCOR announced it has expanded its group finance functions with the appointment of Ian KELLY as Head of Investor Relations (with effect from November 1, 2016) and Bertrand BOUGON as Head of Group Ratings & Capital and SCOR SE Finance Director.
More

Stephen McGee appointed CFO of AEGON UK

AEGON UK has appointed Stephen McGee as Chief Financial Officer, a role he has held on an interim basis since August. Prior to becoming CFO, he was a key part of the finance leadership team, including latterly as Finance Director, Existing Business as well as leading a strategic review of the business in his time as Commercial Programme Director.
More

PRESS CUTTINGS
AIG Reports Third Quarter 2016 Results

AZERBAIJAN: Pasa Hayat Sigorta has seized 53% of life insurance market

AZERBAIJAN: Two insurers authorized for compulsory insurance

CZECH REPUBLIC: A.M. Best Affirms Credit Ratings of Ceska pojistovna

HUNGARY: AXA has completed the sale of its banking operations to OTP Bank plc

Ingosstrakh to pioneer Russia's online insurance market

Insurance manager wins tender to become LATVIA's tax chief

MetLife Announces Third Quarter 2016 Results

RUSSIAN VTB Bank complains cannot find buyers for Ukrainian branches

UZBEKISTAN: Uzbekinvest Hayot pays 15.1b soums in insurance over 9 months
TOP EVENT
ECPC, 2017: Top quality speakers will address the global customer protection concerns
by Daniela GHETU, 2016-11-03
Peter BRAUMULLER Managing Director, FMA and Alternate Chair of EIOPA and Mirenchu DEL VALLE, Secretary General, Association of Spanish Insurers and Chair of the Insurance and Reinsurance Stakeholders Group within EIOPA will speak at the 3rd edition of the European Consumer Protection Conference, to be held in Vienna, on February 16th, 2017.
More


INTERVIEW
Javier San BASILIO
Regional Manager for Europe
MAPFRE

Client orientation is one of the strategic key elements for us. We have launched a series of internal initiatives that place the interests and needs of the client in the centre of all our activities. In addition, we have to be more flexible in the way we adapt our own organization to special client segments. Operational excellence and efficiency are other key elements in this respect.
More


VIG
JLT

STATISTIC UPDATES
Albania 3Q2016
Kosovo 3Q2016

TRUST RE

XPRIMM EVENTS
IIF 2017 - MOTOR Insurance Conference
15 February 2017, Vienna, Austria
European Consumer Protection Conference
16 February 2017, Vienna, Austria
IIF 2017 - MOTOR Insurance Conference
2-3 April 2017, Pera Palace Hotel, Istanbul, Turkey
AIIF - Azerbaijan International Insurance Forum
June 2017 Baku, Azerbaijan
IIF 2017 - PROPERTY Insurance Conference
19-20 June 2017, Munchen, Germany

MARSH
EUROINS

PARTNER EVENTS
WorldPensionSummit 2016
9-10 November 2016, The Hague, Netherlands
2nd Annual Practical ORSA Feedback and Risk Appetite
24-25 November 2016, London, United Kingdom
Innovating Customer-Centric Insurance Marketing Conference
30 November 2016, London, United Kingdom
Insurance Fraud Forum
16-17 February 2016, Rome, Italy
3rd Annual African Insurance Forum
9-10 March 2017, Johannesburg, South Africa
Insurance Innovations 2017
13-14 March 2017, Dubai, United Arab Emirates


GLOBASIG

CURRENT XPRIMM REPORTS
KAZAKHSTAN FY2015 & 1H2016
RUSSIA FY 2015 & 1H2016
TURKEY FY2015 & 1H2016
ROMANIA 1Q2016 & 1H2016
Ins. Report CEE, SEE & CIS – 1H2016
Motor Ins. Report FY2015 & 1H2016
Property Ins. Report FY2015
AZERBAIJAN FY 2015 & 1H2016

XPRIMM News