XPRIMM News
Insurance Newsletter, No. 363, 6 July, 2017

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INTERVIEW - ON THE MOVE - TOP NEWS - CURRENT REPORTS

TOP NEWS
Global insurance premiums up by 3.1% in 2016; overall growth outlook remains positive, latest sigma study says
by Vlad BOLDIJAR, 2017-07-06
Global insurance premiums increased by 3.1% in real terms in 2016, Swiss Re Institute's latest sigma report says, largely fuelled by the rapid growth of the Chinese market which currently ranks third worldwide in GWP terms.
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ALLIANZ: By 2027, China will be the second-largest market in the world
by Vlad BOLDIJAR, 2017-07-06
In the next decade, growth in emerging markets will remain at a much higher level than in the developed world, estimates an ALLIANZ study. Per regions, Asia will be the fastest-growing in the world, with many markets seeing double-digit growth. From this point of view, the Chinese insurance market is expected to more than quadruple over the next 10 years.
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STATISTICS: CZECH Rep., 1Q2017: 3.3% GWP growth; KOOPERATIVA pojistovna-VIG takes up the market leadership
by Vlad BOLDIJAR, 2017-07-06
In the first quarter of 2017 the 25 Czech insurers, members of local professional association (CAP), reported aggregate GWP of CZK 32.1 billion (~EUR 1.2 billion), up by 3.3% y-o-y.
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STATISTICS: HUNGARY, 1Q2017: incurred claims went up by 12.2%, while GWP increased by only 8.5% y-o-y
by Vlad BOLDIJAR, 2017-07-06
The Hungarian insurance market totaled HUF 254.7 billion (EUR 825 million) at the end of March 2017, 8.5% more y-o-y, according to the statistics published by the Central Bank.
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STATISTICS: UKRAINE, 1Q2017: GWP collected by local insurers up by 31.69%
by Olesea ADONEV, 2017-07-06
In 1Q2017, GWP collected by local insurers' went up by 31.69% y-o-y, to UAH 10,895.90 million, of which UAH 10,263.30 million for the non-life insurance segment (up by 34.82%), while life insurance saw a decrease by 4.31%.
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JLT Re is awarded Reinsurance Broker of the Year
by Vlad BOLDIJAR, 2017-07-06
JLT Re, the global provider of reinsurance broking and consultancy was named Reinsurance Broker of the Year at the Reactions London Market Awards. Mike REYNOLDS (Global CEO, JLT Re) was also awarded Reinsurance Broking CEO of the Year.
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EUROINS Romania got regulatory approval to acquire the non-life portfolio of ATE Insurance
by Vlad BOLDIJAR, 2017-07-06
Romanian insurer EUROINS, part of Bulgarian-based EUROINS Insurance Group (EIG), will acquire the non-life insurance portfolio of ATE Insurance Romania, a PIRAEUS Bank unit, after Romania's ASF approved the transfer on July 4th 2017.
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UPDATE: ETHNIKI Insurance close to becoming an American-Dutch owned company
by Daniela GHETU, 2017-07-06
National Bank of Greece's sale of a 75% stake in its insurance arm, Ethniki Insurance, to the American-Dutch consortium Calamos-EXIN got the final approvals, for a total consideration of EUR 718.3 million.
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Fitch: Dutch insurers' profitability improving, but still challenged
by Daniela GHETU, 2017-07-06
Dutch life insurers' profitability stabilized in 2016, while non-life combined ratios increased, both segments dealing with still challenging market conditions, Fitch said in a comentary released today.
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Webinar: Customer Centricity with MS Amlin, Berkshire Hathaway and Ingenin
by Adina TUDOR, 2017-06-30
With customer experience a major challenge across the insurance claims lifecycle, claims leaders from MS Amlin, Berkshire Hathaway Specialty Insurance and Ingenin will share their expert insight on how to deliver a superior claims customer experience at "The Moment of Truth: Deliver Customer-Centric and Seamless Insurance Claims" webinar.
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Azeri insurers have collected AZN 11 million for MTPL contracts in the first half of 2017
by Daniela GHETU, 2017-07-06
At the end of June 2017, 133,148 contracts on compulsory MTPL were registered in the Azeri Compulsory Insurance Bureau's information system, more by 58% than in 1H2016.
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ON THE MOVE
Swiss Re appoints Christian Kreutzer as Head Market Underwriting Austria, Central & Eastern Europe effective from 1 July 2017
by Daniela GHETU, 2017-07-03
Christian Kreutzer (47) will take on the position of Head Market Underwriting Austria, Central & Eastern Europe effective from 1 July 2017, reporting to Nicola Rautmann, Market Executive Austria & CEE.
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Leonardo BADEA and Razvan WLASSOPOL appointed at the helm of the Romanian Financial Supervisory Authority
by Daniela GHETU, 2017-07-06
Leonardo BADEA was appointed as President of the Financial Supervisory Authority (ASF)'s Board, while Razvan Wlassopol was designated for the position of First Vice-president, both appointments getting the Parliament's approval in June 28.
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Robert CHILDS appointed Deputy Chairman of Lloyd's
by Vlad BOLDIJAR, 2017-07-06
Lloyd's announced that Robert CHILDS, Non-Executive Chairman of HISCOX, has been appointed Deputy Chairman of Lloyd's. He takes up the position immediately.
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Michel M. Lies to succeed Tom de Swaan as Zurich Insurance Group's Chairman in 2018
by Daniela GHETU, 2017-07-06
Zurich Insurance Group announced the Board of Directors will propose the election of Michel M. Lies as Chairman at the Annual General Meeting (AGM) to be held April 4, 2018.
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Maximilian ZIMMERER joins Supervisory Board of MUNICH Re
by Vlad BOLDIJAR, 2017-07-06
Maximilian ZIMMERER has been appointed to the Supervisory Board of MUNICH Re with effect from 4 July 2017.
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David EDWARDS to join JLT Re's growing Credit & Political Risk team
by Vlad BOLDIJAR, 2017-07-06
JLT Re, the global provider of reinsurance broking and consultancy announced that David EDWARDS will be joining JLT Re's expanding Credit & Political Risk team once he has completed his contractual obligations with his current employer.
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PartnerRe announces retirement of two longstanding executives
by Vlad BOLDIJAR, 2017-07-06
PartnerRe Ltd. announced that Tad WALKER, CEO Property & Casualty and Marvin PESTCOE, Chief Risk and Actuarial Officer, will both retire from the company at the end of Q1 2018.
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INTERVIEW
Oleg HANIN,
Chairman of the Board, KOMMESK-OMIR

One of the most discussed subjects in our market, in 2016 was the transfer of the road accident claims settlement activity from the independent evaluators to the insurance companies. Despite the surge in negative expectations, the measure resulted in an effective direct, non-intermediated interaction between insurers and their clients which led to the growing customer satisfaction with regard to the claims payment.
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VIG
JLT

STATISTIC UPDATES
CZECH Republic 1Q2017
HUNGARY 1Q2017
UKRAINE 1Q2017

OMNIASIG
MARSH

XPRIMM EVENTS
Insurance Master Class with Prof. Karel Van HULLE
22 September 2017, Bucharest, Romania
ICAR 2017 - The International CAtastrophic Risks Forum
18 October 2017, Bucharest, Romania
IIF 2017 - MOTOR Insurance Conference
6 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
IIF 2017 - MOTOR Insurance Conference
November 2017 Baku, Azerbaijan

TRUST RE

PARTNER EVENTS
RPA&Artifical Intelligence BFSI World Summit
10-12 July, Amba Marble Arch, London, UK
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
9-14 September, 2017, Monte Carlo, Monaco
7th Annual Risk Management Forum
14-15 September, 2017, Vienna, Austria
International Conference "RISKS & CLAIMS-2017"
20 September, 2017, Moscow, Russian Federation
Baden Baden Meetings 2017
22-26 October 2017, Baden Baden, Germany

EUROINS
GLOBASIG

PRESS CUTTINGS
ARMENIA: VTB Bank downs interest rates on car loans

BULGARIA's Life Insurance Institute gets nod to absorb Health Insurance Institute

BULGARIA's Starcom Holding cuts stake in insurer Eurohold

BULGARIAN insurer Euroins to skip dividend for 2016

GREECE's National Bank to Sell Romania, Serbia, Cyprus Operations

HUNGARY: Extraordinary announcement on the merger by acquisition of Pannonia Insurance Companies

RGA Re joins race to acquire Generali's Netherlands operations

ROMANIA: Euroins buys Starcom bonds worth 700,000 euro

ROMANIAN insurer NN Asigurari de Viata plans to enter Bulgarian market

"Ukrainian insurance group" has introduced a new service purchase travel insurance policy online

CURRENT XPRIMM REPORTS
RUSSIA FY 2016
KAZAKHSTAN FY2015 & 1H2016
TURKEY FY2015 & 1H2016
ROMANIA FY2016
Ins. Report CEE, SEE & CIS – 1H2016
Motor Ins. Report FY2015 & 1H2016
Property Ins. Report FY2016

XPRIMM News