XPRIMM News
Insurance Newsletter, No. 354, 27 April, 2017

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INTERVIEW - ON THE MOVE - INSURANCE & TECHNOLOGY- TOP NEWS - CURRENT REPORTS

TOP NEWS
HUNGARY: VIG to merge ERSTE, UNION and VIENNA Life into one company
by Vlad BOLDIJAR, 2017-04-27
Austrian insurer VIENNA Insurance Group (VIG) announced it will merge its three Hungarian subsidiaries - ERSTE Biztosito, UNION Biztosito and VIENNA Life Biztosito - into one company.
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FIAR 2017: New names join top speakers who will enrich the 20th edition of the Forum
by Daniela GHETU, 2017-04-27
A team of exquisite speakers will enrich FIAR - The International Insurance-Reinsurance Forum 20th edition's content, sharing their views on the most important topics in the insurance field today.
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STATISTICS: BULGARIA, FY2016: Insurers' profit more than doubled last year
by Vlad BOLDIJAR, 2017-04-27
Bulgarian insurers ended 2016 with a 4.4% y-o-y growth in GWP, to BGN 2.05 billion (EUR 1.05 billion), while the aggregate value of net profit more than doubled, reaching EUR 61.68 million.
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STATISTICS: CYPRUS, FY2016: GWP up by 2.6% y-o-y, mostly supported by the non-life lines
by Vlad BOLDIJAR, 2017-04-27
Cypriot insurers posted aggregate GWP of EUR 764 million last year, up by 2.6% y-o-y, according to the FY2016 market statistics published by the Insurance Association of Cyprus - IAC.
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CROATIA Osiguraje's Q1 net profit up by 71%
by Vlad BOLDIJAR, 2017-04-27
ADRIS Group, the holding company owning CROATIA Osiguranje (CO), announced its insurance arm increased its Q1 2017 net profit by 71% y-o-y, to HRK 67.8 million (about EUR 9.1 million).
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FRISS and Openclaims won the Dutch Fintech Awards in the InsurTech section
by Daniela GHETU, 2017-04-26
Fraud defender FRISS and OPENCLAIMS have been chosen as an insurtech startup of the year 2017 during the annual Dutch Fintech Awards. InsureApp, a startup of Risk Insurance, ranked second.
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German insurer ALLIANZ strategically invests in LEMONADE
by Daniela GHETU, 2017-04-26
ALLIANZ SE has announced it has recently made a "strategic investment" in Lemonade Insurance Company, a New York-licensed renters and homeowners insurer powered by artificial intelligence and behavioural economics.
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Aon/Ponemon: Almost four times more budget is being spent on property related risks vs. cyber risk
by Daniela GHETU, 2017-04-26
Nearly 65% of organizations expect their cyber risk exposure to increase in the next two years, a recent report released by PONEMON Institute found.
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Fitch takes rating action on Italian insurers on sovereign downgrade
by Daniela GHETU, 2017-04-27
On April 26 Fitch Ratings has affirmed Assicurazioni GENERALI Spa's (GENERALI) and core subsidiaries' Insurer Financial Strength (IFS) Ratings at 'A-', following the recent downgrade of Italy's IDR.
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Global Benefits Group aims to be become a relevant corporate insurance provider in the CEE and CIS
by Daniela GHETU, 2017-04-26
Global Benefits Group (GBG) has entered into a strategic partnership with a new Georgia-based insurance company, aiming to become a player in the corporate insurance sectors of the CEE and CIS regions.
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SCOR reported net income of EUR 140 million in Q1 2017
by Vlad BOLDIJAR, 2017-04-27
French reinsurer SCOR reported net income of EUR 140 million in Q1 2017 vs. EUR 170 million a year before, while the value of GWP totaled EUR 3.74 billion, up by 13.9% y-o-y.
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Aon 2017 Global Risk Management Survey: businesses confronted with additional risks raised by the unprecedented volatility
by Daniela GHETU, 2017-04-27
Unprecedented volatility adds new urgency and complexity to old risks, as economics, demographics, geopolitics and technology advancements are changing the economic landscape, Aon's 2017 Global Risk Management Survey finds.
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Seguros el Roble chooses the FRISS solution to fight insurance fraud
by Daniela GHETU, 2017-04-26
Seguros el Roble announced that it has selected FRISS, in cooperation with MUNICH Re, to provide a fraud detection platform for claims, aiming to fight fraud in a more structured and effective way.
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INSURANCE & TECHNOLOGY
Global insurers to spend about USD 185 billion on technology in 2017

Global IT spending by insurance companies will reach USD 184.8 billion by the end of 2017, with digitalization, data analytics, and legacy and ecosystem transformation dominating investments says Celent.
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ON THE MOVE
Joachim WENNING's mandate as the new Chairman of the Board at MUNICH Re starts today
by Adina TUDOR, 2017-04-27
Today Joachim WENNING (52) takes over as the new Chairman of the Board at MUNICH Re, replacing Nikolaus von BOMHARD (60), who has headed the Group for over thirteen years.
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ACHMEA appoints Rene SCHOLTEN as CFO of its Slovak unit, UNION
by Vlad BOLDIJAR, 2017-04-27
Dutch insurer ACHMEA announced it has appointed Rene SCHOLTEN as Chief Financial Officer (CFO) of its Slovakian insurance company UNION, pending regulatory approval.
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PRESS CUTTINGS
ARMENIA: VTB Bank as insurance companies` agent offers to get insurance certificate with beneficial terms

AZERBAIJAN: ADIF pays over AZN 728M in compensation to eleven closed banks' customers

AZERBAIJANI Compulsory Insurance Bureau pays compensations

Chubb Reports First Quarter P&C Combined Ratio of 87.5%

CROATIAN regulator clears acquisition of SG Splitska banka by OTP

CZECH REPUBLIC: VZP wants to expand in car insurance

MONTENEGRO: IMF to support supervision of banks, insurers

POLAND's PKN Q1 net profit seen jumping to USD 476 mln

UKRAINE: AXA Insurance has launched a mobile app AXA Drive for car owners

UKRAINE: Interpol publishes red notice for ex-heads of Oranta insurer


VIG
JLT

INTERVIEW
Klime POPOSKI
PhD, President of the Council of Expert Insurance Supervisory Agency
Macedonia

In 2016, we have seen a progress on the health insurance line, which is a relatively new insurance product in Macedonia, with modest beginnings in 2013. Last year also brought a boom in unit-linked insurance, also a product only existing in the market since 2015.
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STATISTIC UPDATES
Bulgaria FY2016
Cyprus FY2016



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21-25 May 2017, Poiana Brasov, Romania
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26 June 2017, Munich, Germany
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22 October 2017, Baden Baden, Germany
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1 June, 2017, Zurich, Switzerland
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12 July 2017, Saint Petersburg, Russian Federation

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CURRENT XPRIMM REPORTS
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KAZAKHSTAN FY2015 & 1H2016
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Ins. Report CEE, SEE & CIS – 1H2016
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Property Ins. Report FY2015

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