XPRIMM News
Insurance Newsletter, No. 351, 6 April, 2017

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ON THE MOVE - ANALYSIS - TOP NEWS - CURRENT REPORTS

LIVE from Moscow Annual Reinsurance Conference
Russia: stability, improved quality and huge growth potential
by Oleg DORONCEANU, Vlad BOLDIJAR, 2017-04-06
The Russian re/insurance has reached a stable status in 2016, both in regulatory and structural terms, as well as in premium production, representatives of the official market bodies said yesterday in Moscow.
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Photo Gallery: The XXI Annual Reinsurance Conference takes place in Moscow on April 5-6
by Vlad BOLDIJAR, 2017-04-05
The Conference, traditionally organized by the Committee of the All-Russian Union of Insurers on Reinsurance, will focus this year on "Russian Reinsurance Market - Paradigm Shift".
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The latest issue of INSURANCE Profile Russia was officially launched!
by Vlad BOLDIJAR, 2017-04-05
The latest issue of INSURANCE Profile Russia, the specialized magazine dedicated to the Russian insurance market, was officially launched on April 5th, during the 21st edition of the Annual Reinsurance Conference in Moscow.
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Russian National Reinsurance Company targets a global expansion
by Oleg DORONCEANU, Vlad BOLDIJAR, 2017-04-06
Maybe one of the most expected discussion topics during Moscow's 21st edition of Annual Reinsurance Conference was RNRC - the Russian National Reinsurance Company -, a company with a recent start of a activity (October 2016).
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Russia and CIS insurance markets are highly challenging, TRUST Re study shows
by Oleg DORONCEANU, Vlad BOLDIJAR, 2017-04-06
Natural disasters, increasing capitalization requirements and synergies of costs, as well as higher acquisition costs are the most challenging issues for the CIS re/insurance markets, shows a TRUST Re study.
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S&P Global: 2017/18 - A stable perspective on the reinsurance market
by Oleg DORONCEANU, Vlad BOLDIJAR, 2017-04-06
The credit conditions remain weak and the reinsurance companies will keep on fighting to generate past years' revenues, according to a statement made in Moscow, by Dennis SUGRUE, Senior Director, EMEA Region, S&P Global Ratings.
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TOP NEWS
TRUST Re's 2016 results show a profitable performance despite the difficult market conditions
by Daniela GHETU, 2017-04-03
TRUST Re achieved in 2016 Gross Written Premium of USD 481.7 million, compared to USD 475.9 million in the equivalent period twelve months ago. The Group's profits reached USD 18.8 million at the end of the fourth quarter (2015: USD 30.8 million).
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FLOOD Re succeeds in improving access to insurance for flood affected communities
by Daniela GHETU, 2017-04-05
One year after FLOOD Re's launch, data shows four out of five householders with previous flood claims saw a reduction in the price of available quotes of more than 50%.
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STATISTICS: MOLDOVA, FY2016: Growth supported by the MTPL rates
by Olesea ADONEV, 2017-04-06
The total GWP by Moldova's insurance companies increased by 9.67%, to MLD 1,347.04 million (EUR 64.48 million) in 2016, according to the official data published by the supervisory authority - NCFM.
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STATISTICS: BELARUS, FY2016: Increasing popularity of life insurance products supports market growth
by Olesea ADONEV, 2017-04-06
According to data published by the Ministry of Finance of Belarus, the local insurance market reported aggregated GWP of BYN 971 million, 18% more y-o-y, supported by the life & health insurance (inclusing pensions).
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Lloyd's reports GBP 2.1 billion profit for 2016
by Daniela GHETU, 2017-04-06
Lloyd's, the world's specialist market for insurance and reinsurance, announced a profit of GBP 2.1 billion for 2016 despite the combined ratio moving from 90.0% to 97.9%.
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PERILS: Updated Database Includes USD 57.6 Trillion in European Windstorn Exposures
by Daniela GHETU, 2017-04-05
The biggest exposure in the updated PERILS Industry Exposure Database (IED) is European Windstorm, with some EUR 54 trillion of insured property values, -0.4% as compared to 1 January 2016.
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Aon: Populism and terrorism converge to compound global risks
2017-04-06
A 14% worldwide increase in terrorist attacks in 2016 and populist nationalism are creating an increasingly volatile operating environment for international business, the 2017 Aon Risk Maps for Political Risk, Terrorism and Political Violence show.
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SAVA Re's audited Annual Report for 2016 released today
by Daniela GHETU, 2017-04-06
The Slovenia Sava Re Group has published today its Audited Annual Report for 2016, confirming a profit before tax of EUR 40.7 million, up 1.4% y-o-y, as shown by the preliminary results.
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ETHNIKI Insurance sale: four investors are bidding for the majority stake
by Daniela GHETU, 2017-04-05
Four investors submitted binding bids to acquire a majority stake in Greek lender National Bank's (NBG) insurance unit, ETHNIKI Insurance, reports Reuters quoting a banking source close to the deal.
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EIOPA sets out the methodology to derive the Ultimate Forward Rate
by Daniela GHETU, 2017-04-06
The European Insurance and Occupational Pensions Authority (EIOPA) published the methodology to derive the Ultimate Forward Rate (UFR) and its implementation process.
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New Class of 'Cyber-Physical' Risk Modeling for Property Insurers from RMS
RMS announced the expansion of its range of cyber models to include a new class of 'cyber-physical' models, exploring a range of cyber attack scenarios that can cause physical damage to property.
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National Bank of Ukraine to take over insurance supervisory tasks until year end
by Daniela GHETU, 2017-04-06
According to the Memorandum signed by Ukraine with the IMF, the insurance market's supervision and regulating responsabilities will be taken over by the National Bank of Ukraine until year end, the latest.
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"Power shift: New expectations", the main theme of LIMRA EMEA's Life Insurance Conference 2017
by Adina TUDOR, 2017-04-06
Innovation is the new key to growth, and that's why this year's edition of LIMRA EMEA's Life Insurance Conference 2017 will look into the "Power shift: New expectations".
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Insurer INGO Ukraine bought by businessman Yaroslavsky
by Daniela GHETU, 2017-04-05
DCH Group of Oleksandr YAROSLAVSKY is acquiring 25% of insurer INGO Ukraine's shares, reports Interfax-Ukraine, aiming to gradually further expand its ownership to 100%.
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Insurers' organization in Ukraine plead for a more effective consumer protection in case of insurance provider's bankruptcy
by Daniela GHETU, 2017-04-05
Insurance companies' bankruptcy procedure does not provide for a proper protection of consumer rights, Serhiy TARASOV, Director of the law and analytical department of the League of Insurance Organizations of Ukraine (LIOU) recetly said, quoted by Interfax-Ukraine.
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ON THE MOVE
Michael O'Halleran retires from Aon Benfield after 37 years of service
by Daniela GHETU, 2017-04-06
Aon Benfield said that veteran executive Michael O'Halleran, 66, will retire as of May 1, after 37 years with the reinsurance broker.
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John BRUNO appointed Chief Operations Officer at Aon
by Daniela GHETU, 2017-04-06
Aon plc, the global provider of risk management and human resources solutions, announced the promotion of John G. BRUNO to Chief Operations Officer, responsible among other for improving global business operations.
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EIOPA: Terms of office extended for three members of the Management Board
by Daniela GHETU, 2017-04-05
The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) has extended by two-and-a-half years the terms of office of the following Management Board members:
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New members elected to the Council of Lloyd's and Franchise Board
by Daniela GHETU, 2017-04-06
Gregory FLEMING has been appointed as a nominated member of the Council and Patricia JACKSON as an independent non-executive director of the Franchise Board at Lloyd's, both for an initial term of three years.
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RMS Expands Solutions Team with appointment of Colin KERLEY
by Daniela GHETU, 2017-04-05
RMS, the risk modeling and analytics firm, announced Colin KERLEY has joined as senior vice president, platform solutions. He will work together with both the RMS market and product development teams.
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FIAR 2017: Top representatives of BIPAR will put under scrutiny the IDD implementation process
by Daniela GHETU, 2017-04-06
Andre Van VARENBERG, Chairman, Brokers' Committee, BIPAR and Juan - Ramon PLA, Secretary General of BIPAR and Member of the EIOPA IRSG will address FIAR Conferences, presenting the latest developments in the IDD implementing process.
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VIG
JLT

ANALYSIS
Travel Insurance compensation in case of a delay or cancellation? Sense or non-sense?

Whether it's buying the best airline ticket or finding the best travel insurance, people want an easy way to understand and compare products online. But, when it comes to submitting a (flight delay compensation) claim, people will find it difficult, time-consuming and complicated. Would a legally eligible claim need to be covered under a travel insurance policy or would a traveller seek to file a complaint to the airline carrier him-/herself? Would there be a strong support for travellers, who are eligibly entitled to compensation, with customer-friendly travel insurance benefits?
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Microinsurance - enabling low income population to get insurance protection
by Daniela GHETU, 2017-04-06
With large cohorts of their populations being affected by living standards largely falling behind the West European ones, the CEE and CIS countries countries show an obvious lagging behind also in terms of insurance protection. In other words, precisely the European citizens most vulnerable to risk are deprived of the protection that insurance can provide.
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STATISTIC UPDATES
Moldova FY2016
Belarus FY2016


OMNIASIG
MARSH

XPRIMM EVENTS
Inclusive Insurance And Microinsurance
17 May 2017, Ljubljana, Slovenia
FIAR 2017 - The International Insurance-Reinsurance Forum
21-25 May 2017, Poiana Brasov, Romania
IIF 2017 - PROPERTY Insurance Conference
26 June 2017, Munich, Germany
IIF 2017 - MOTOR Insurance Conference
September 2017 Baku, Azerbaijan
IIF 2017 - MOTOR Insurance Conference
October 2017 Istanbul, Turkey
Baden-Baden XPRIMM Reception
22 October 2017, Baden Baden, Germany
IIF 2017 - Insurance in the DIGITAL World
14 November 2017, Vienna, Austria

TRUST RE

PARTNER EVENTS
XI International Conference "Insurance in Central Asia"
13-14 April 2017, Almaty, Kazakhstan
International Risk Management Conference
27-28 April 2017, Almaty, Kazakhstan
Market Developments within Direct Lending Conference
11-12 May, 2017, London, UK
Digitalisation today and tomorrow - Insurance Europe International Conference
1 June, 2017, Zurich, Switzerland
Global Summit for Insurance Innovation
1-2 June 2017, Madrid, Spain
"Insurance & Reinsurance Days" Conference
7-8 June 2017, Cracow, Poland
XV Russian Insurance Summit
12 July 2017, Saint Petersburg, Russian Federation

IIS Global Insurance Forum
17-20 July 2017, Park Westminster Bridge Hotel, London
Les Rendez-vous de Septembre 2017
September 9-14, 2017, Monte Carlo, Monaco
Baden Baden Meetings 2017
22-26 October 2017, Baden Baden, Germany

EUROINS
GLOBASIG

PRESS CUTTINGS
AZERBAIJAN to introduce new tools to support banking sector

AZERBAIJAN: Property of shareholders, management of bankrupt banks to be confiscated

CZECH insurance market in 2020: are you ready for the digital revolution?

HUNGARY: Extraordinary announcement on the agreement between the subsidiary of CIG Pannonia Life Insurance and Aegon Hungary

RUSSIA: SOGAZ to insure CherMK for USD 18.67 billion

SLOVAKIA: New levy to raise insurance premiums

SLOVENIA: EBRD exits leading pension fund Prva Group

UKRAINE: Insurers' bankruptcy procedure not settled in consumer rights protection area

CURRENT XPRIMM REPORTS
KAZAKHSTAN FY2015 & 1H2016
RUSSIA FY 2016
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