XPRIMM News
Insurance Newsletter, No. 333, November 10, 2016

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INTERVIEW - ON THE MOVE - TOP EVENT - TOP NEWS - CURRENT REPORTS

Live from The Croatian Insurance Days

The Croatian Insurance Days begin today
by Daniela GHETU, Vlad BOLDIJAR, 2016-11-10
The traditional annual reunion of the Croatian and the Adriatic area insurance markets, The Croatian Insurance Days, has started today in Opatija, reuniting top level professionals from the region, as well as representatives of the European bodies, reinsurance companies and related industries.
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TOP NEWS
Julian AREVALO, EIOPA: Our ultimate objective is to enhance consumer protection in Europe
by Mihai CRACEA, 2016-11-08
All the activities of EIOPA have the ultimate objective to enhance the protection of consumers in Europe, highlighted Julian AREVALO, Expert on Consumer Protection and Financial Innovation at EIOPA, during the "Protection of insureds and pensioner" conference organized on the 8th of November in Sofia, Bulgaria.
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AON: Hurricane Matthew caused up to USD 15 bn impact to US and Caribbean economies in October
by Adina TUDOR, 2016-11-10
Total U.S. economic losses from Matthew were forecast to range as high as USD 10 billion, while public and private insurance losses were estimated to possibly reach USD 5 billion, according to the latest edition of the monthly Global Catastrophe Recap report published by Impact Forecasting, Aon Benfield's catastrophe model development team.
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STATISTICS: CROATIAN 3Q2016 market remained at previous year's level
by Vlad BOLDIJAR, 2016-11-10
Croatian insurers posted an aggregate GWP of HRK 6.74 billion (about EUR 900 million) in the first nine months of 2016, up by 0.3% y-o-y, according to the preliminary statistics published on Croatian Insurance Bureau - CIB website. Non-life GWP increased by 1% y-o-y to HRK 4.6 billion, while the life insurance segment totaled HRK 2.1 billion, or 1.2% less y-o-y.
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STATISTICS: Montenegrin market up by 3.5% at the end of the third quarter
by Vlad BOLDIJAR, 2016-11-10
In 3Q2016, the Montenegrin insurance market totaled almost EUR 60 million, a 3.5% increase y-o-y, as the Insurance Supervision Agency has reported. Compared with September 2015, non-life insurance premium was up by 3.3% (to EUR 50.1 million), while the life insurance GWP grew by 4.2% (to EUR 9.2 million).
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European top managers overconfident about their readiness to deal with cyber attacks
by Daniela GHETU, 2016-11-10
92% of the largest European businesses have suffered a data breach in the past five years, but only 42% are worried about the possibility of another breach happening again, shows the LLOYD's survey "Facing the cyber risk challenge" carried out in September 2016.
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Russia: Marine insurance in 2015 navigates in a challenging environment
by Olesea ADONEV, 2016-11-10
Traditionally, the marine insurance is associated with special risks.The share of marine premiums in the global insurance market is rather low, about 3-5% (note: estimated by IUMI) or USD 29.9 billion in 2015, down by 10.5% compared to the year 2014. The shrinking of the global marine market in 2015 was much more intense than in the period 2014/2013, while GWP decreased only by 3.2%. The main cause of such tendency is due to a strong USD - a significant difference between premiums written in local currency compared to premiums converted in USD.
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Credit Europe Asigurari
Emerging global trends regarding fraud to be outlined in FRISS survey
by Mihai CRACEA, 2016-11-09
Monday November 14th, during the European Insurance Fraud Summit, FRISS will present the key findings of its 2016 Insurance Fraud & Digital Transformation Survey.
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Munich Re posts profit of EUR 684 million in third quarter - Profit guidance of well over EUR 2.3 billion for 2016
by Mihai CRACEA, 2016-11-10
Munich Re posted a consolidated profit of EUR 2.1bn for the first nine months of 2016 (same period last year: EUR 2.4bn). In the third quarter, the Group realised a profit of EUR 684m (525m). Profit for the current year is expected to significantly exceed the previously projected amount of EUR 2.3bn.
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Hannover Re posts strong nine-month result for 2016
by Adina TUDOR, 2016-11-10
HANNOVER Re reported on 30 September 2016 a net income slightly above the previous year's level at EUR 790 million (EUR 786 million).
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Ukraine: Swiss investor VIATRANS bought 22% of local insurer PERSHA
by Olesea ADONEV, 2016-11-10
Swiss investor VIATRANS became one of the shareholders of PERSHA Ukraine, a non-life insurer, with 22% of the shares (132,000 shares). Moreover, the Ukrainian Commission for State Regulation of the Financial Markets has approved the acquisition. VIATRANS has showed its interest for the domestic insurer since March, 2016.
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Moldova: GENERAL Asigurari is the newest player to enter the market
by Olesea ADONEV, 2016-11-10
GENERAL Asigurari is the most recent player to enter the re/insurance market in Moldova. The Board of Directors of the National Commission of Financial Market has issued the prior approval of registration in this regard, according to official anouncement made by local supervisory authority.
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AM Best: SAVA Re's rating affirmed to Excellent with stable outlook
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long Term Issuer Credit Rating of "a-" of Pozavarovalnica SAVA d.d. (SAVA Re, Slovenia), the operating holding company of the SAVA Re Group. The outlook is stable.
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AON's reinsurance business receives double accolade for implementation of ACORD Standards
by Daniela GHETU, 2016-11-10
AON Benfield, the global reinsurance intermediary and capital advisor of AON plc, has announced on November 7, that it received two awards from ACORD, the global standards-setting body for the insurance industry, during a recent ceremony in Boca Raton, Florida.
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ON THE MOVE
Tokio Millennium Re AG announces the appointment of Richard BENNISON to its Board as an Independent Non-Executive Director

Tokio Millennium Re AG (TMR) is pleased to announce the appointment of Richard BENNISON to its Board of Directors as an Independent Non-Executive Director with immediate effect.
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TOP EVENT
IIF 2017: The impact of the latest digital technologies on the motor insurance business to be discussed in Vienna
by Daniela GHETU, 2016-11-10
"In 2030, half of all cars are expected to have an electric or hybrid powertrain, and almost all cars will be connected," reads an AlixPartners* study with regard to automotive industry's future, concluding that "only organizations that integrate that new world into their strategies will be able to compete and stay relevant in this rapidly evolving industry."
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INTERVIEW
Enkeleda SHEHI
Executive General Director
Albanian FSA

The MTPL market still hasn't reached the equilibrium point as it is expected a rise in the gross premium volume during the next years. This rise can be driven by many factors such as: the number of uninsured cars, which is still high, the difference of average premium between Albania and the region, the collaboration of AFSA with the universities in promoting the insurance sector.
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VIG
JLT

STATISTIC UPDATES
Croatia 3Q2016
Montenegro 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
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

PRESS CUTTINGS
MACEDONIA: Triglav unit 9-mo after-tax profit up on net premium income

Willis Towers Watson Reports Third Quarter Earnings

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