XPRIMM News
Insurance Newsletter, No. 355, 4 May, 2017

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INTERVIEW - ON THE MOVE - TOP NEWS - CURRENT REPORTS

TOP NEWS
SWISS Re reports solid first quarter 2017 net income of USD 656 million
Despite a challenging business environment and expected insurance claims from Cyclone Debbie in Australia, SWISS Re generated a solid Group net income of USD 656 million in the first quarter of 2017.
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Green light for PZU to become the largest diversified financial services group of in Poland and the CEE
by Daniela GHETU, 2017-05-04
On May 4, 2017, the Polish Financial Supervision Authority gave green light to the PZU and PFR's intention to purchase 32.8% of Bank Pekao S.A. from the UniCredit Group, the Polish insurer announced.
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STATISTICS: ARMENIA, FY2016: motor insurance lines once again dictate the market trend
by Olesea ADONEV, 2017-05-04
The 5% GWP growth recorded by the Armenian insurers in 2016 was mainly due to the national cars fleet's expansion and to the implementation of several large economic projects.
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STATISTICS: UKRAINE, FY2016: timid signs of recovery; market concentration continues
by Olesea ADONEV, 2017-05-04
In 2016, GWP collected by local insurers' have grown up by 18.28% compared with 2015 (note: in 2015/2014 the growth rate reached 21.2% y-o-y).
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STATISTICS: UZBEKISTAN, FY2016: both premiums and claims paid increased at a double digit pace
by Olesea ADONEV, 2017-05-04
In 2016, the domestic insurance market has shown a significant evolution, up by 25.58%, according to preliminary data published by the Information-Rating Agency SAIPRO.
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ALLIANZ reports rise in Q1 revenues and operating profit
by Vlad BOLDIJAR, 2017-05-04
German insurer ALLIANZ announced it achieved total 1Q 2017 revenues of EUR 36.2 billion. "This represents an increase of 2.5% compared to the prior-year quarter", said the insurer.
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IIF 2017 - "PROPERTY Insurance - The NatCat Challenge"
by Daniela GHETU, 2017-05-04
Despite the increased technological capabilities of the modern world, natural catastrophes are still difficult, if not impossible to control. Yet, less than 30% of the total losses produced by Nat Cat events worldwide are insured losses.
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JLT's Q1 trading statement optimistic in regard to the 2017 perspectives
by Daniela GHETU, 2017-05-04
Jardine Lloyd Thompson Group plc (JLT) has made a good start to the year, although the challenging trading conditions of 2016 in many markets around the world have continued in 2017.
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AXA's exit from the Romanian insurance market finalized
by Vlad BOLDIJAR, 2017-05-04
French insurer AXA exited the Romanian market after the sale of its Life & Savings insurance operations to Austrian-based VIENNA Insurance Group. The transaction was closed on 28 April 2017.
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Russian National Reinsurance Company received AAA (RU) rating from ACRA, outlook Stable
by Oleg DORONCEANU, 2017-05-04
The Russian Analytical Credit Rating Agency assigned the AAA (RU) rating with the stable outlook to the Russian National Reinsurance Company (RNRC), according to rating agency' press release recently send to the media. Thus, "the credit rating assigned to the reinsurer is based on its very strong business and financial profiles coupled with high-quality management," ACRA stressed in its press release.
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MMC reported 10% increase in Q1 operating income
by Vlad BOLDIJAR, 2017-05-04
The MARSH & McLENNAN Companies (MMC) recorded Q1 2017 aggregate revenues of USD 3.50 billion, up by 5% y-o-y, the group announced.
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EIOPA's 7th Annual Conference announced for November
by Daniela GHETU, 2017-05-03
The European Insurance and Occupational Pensions Authority (EIOPA) has announced its 7th Annual Conference taking place on Wednesday, 22 November, in Frankfurt.
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Insurance industry's capital position strong in 2016; Solvency II disclosures not clear enough for investors
by Daniela GHETU, 2017-05-03
From the investors' perspective, Solvency II disclosures fall short, not providing a clear and easy to understand picture of the re/insurers' financial performance, reads a recent report by Autonomous Research and Willis Towers Watson.
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Over USD 5 billion insurable loss each year to U.S. businesses through data exfiltration
by Daniela GHETU, 2017-05-03
Data breaches can cost companies hundreds of millions of dollars, the loss potentially reaching USD 5 billion a year across the USA only from data exfiltration, says RMS.
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AIG completes sale of AIG Fuji Life to FWD Group
by Vlad BOLDIJAR, 2017-05-04
AIG announced it has successfully completed the sale, originally announced in November 2016, of its japanese subsidiary - AIG Fuji Life to FWD Group - the insurance arm of Pacific Century Group.
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ON THE MOVE
Ervin KOCI heads the Albanian Financial Supervisory Authority
by Daniela GHETU, 2017-05-04
Following the Albanian Parliament's approval, Mr. Ervin KOCI was appointed Board Member of the Albanian Financial Supervisory Authority (AFSA), holding the position of the Executive General Director of AFSA.
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IN MEMORIAM
Monika Wozniak-Makarska, Polish Re

It is with deep sadness that Polish Re announces that on May 4th 2017, after a long and heroic battle with a disease, Monika Wozniak-Makarska, the President of the Management Board and co-founder of the Company passed away.
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PRESS CUTTINGS
AIG Reports First Quarter 2017 Results

AZERBAIJAN: ADIF pays over AZN 732 m in compensation to eleven closed banks' customers

BULGARIAN regulator clears KBC acquisition of NBG Bulgarian businesses

CertAsig largest insurance policies for ROMANIAN companies at EUR 77.8 mln in Q1 2017

CROATIA Osiguranje to buy Cardif Osiguranje

GREECE: Calamos-Exin predicts National Insurance bid hard to match

KAZAKHSTAN: A.M. Best Affirms Credit Ratings of Halyk-Kazakhinstrakh

KOSOVO insurers' net profit declines 15.4% y/y in Q1

MetLife Announces First Quarter 2017 Results

POLISH second-pillar funds net average 12-month gain of 17.6%

TURKEY: Kuwait's Gulf Insurance acquires AIG Sigorta Anonim Sirketi

UKRAINE: Stets announced the mandatory insurance for journalists

Romanian Nat Cat insurance system analyzed at FIAR 2017
by Daniela GHETU, 2017-05-04
FIAR's Nat Cat Conference will bring this year a comprehensive analysis of the property insurance market in Romania, starting from the mandatory segment of this specific market.
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VIG
JLT

INTERVIEW
Ervin KOCI
Executive General Director
Albanian FSA

We expect that 2017 will be a better year towards the performance and expansion of the insurance market, the increasing of transparency and trust of the consumers, the fostering and diversification of insurance products, as well as towards the strengthening of inter-institutional cooperation, to promote exchange of experiences in terms of the regulation and stabilization of the market.
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STATISTIC UPDATES
Armenia FY2016
Ukraine FY2016
Uzbekistan 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
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

CURRENT XPRIMM REPORTS
RUSSIA FY 2016
KAZAKHSTAN FY2015 & 1H2016
TURKEY FY2015 & 1H2016
ROMANIA 1Q2016 & 1H2016
Ins. Report CEE, SEE & CIS – 1H2016
Motor Ins. Report FY2015 & 1H2016
Property Ins. Report FY2015

XPRIMM News