XPRIMM News
Insurance Newsletter, No. 364, 13 July, 2017

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INTERVIEW - TRENDS & MARKETS - ON THE MOVE - TOP NEWS - CURRENT REPORTS

Russian Insurance Summit 2017
Russia: Market's modernization through digitalization and consumer protection are the Central Bank's top priorities for the insurance sector
by Oleg DORONCEANU, 2017-07-12
"We consider the market's cleaning process has come to an end and we are having a more mature market now," Sergey SHVETSOV, First Vice President, Central Bank, Russian Federation stated today at the Russian Insurance Summit 2017, in Saint-Petersburg.
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KOLLER: We need to focus more on prevention to properly respond to the cyber risks challenge
by Oleg DORONCEANU, 2017-07-12
"Implementation of the Solvency II regime in Russia will be a very complex process, but it is very good thing that it started and Insurance Europe is happy to support it all along," Michaela KOLLER, Director General, Insurance Europe said today.
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RNRC targets a RUB 5 billion international reinsurance portfolio until 2021
by Ana PREDA, 2017-07-12
The Russian National Reinsurance Company (RNRC) ended 1H2017 with reinsurance premiums of RUB 3 billion, over 6 thousand concluded contracts and assets of RUB 25 billion, Nikolay GALUSHIN, President of company stated today.
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TOP NEWS
STATISTICS: TURKISH insurers' Q1 GWP saw a 15.7% y-o-y positive trend
by Vlad BOLDIJAR, 2017-07-12
Turkish insurance market's GWP was of TRY 12.4 billion (about EUR 3.2 billion) in 1Q2017, 15.7% up y-o-y in nominal terms (and 4% more y-o-y in real terms), according to the preliminary data published by the local association - TSB.
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STATISTICS: SLOVENIAN market posted positive rates on almost all business lines
by Vlad BOLDIJAR, 2017-07-12
Slovenian insurers posted Q1 GWP of EUR 607.4 million, 6.6% up y-o-y. Life segment totaled EUR 167.7 million, up by 13.7% y-o-y, while non-life insurers reported GWP of EUR 439.7 million, about 4.2% up y-o-y.
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Portuguese insurers will pay a total EUR 2.5 million in special compensations to families of the catastrophic wildfire victims
by Daniela GHETU, 2017-07-13
Portuguese insurance companies have decided to collectively set up a special fund of EUR 2.5 million to grant extraordinary compensations in support of the families of people who died as a result of the wildfires that took place in the province of Pedrogao Grande.
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Hannover Re expands its ILS activities completing three further transactions
by Daniela GHETU, 2017-07-13
Hannover Re has completed three further transactions as part of its Insurance-Linked Securities (ILS) activities, in a total amount of USD 960 million, a company's press release reads.
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Generali has issued the first European multi-peril catastrophe bond
by Daniela GHETU, 2017-07-13
Generali returns to the ILS market with an EUR 200 million cat bond on floods and windstorms in Europe and earthquakes in Italy. The transaction is the first ever European multi-peril indemnity triggered Rule 144A catastrophe bond, the company has announced.
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GREECE: Eurolife ERB chooses FRISS solution to prevent insurance fraud
by Vlad BOLDIJAR, 2017-07-12
Eurolife ERB has selected the FRISS solution to confront insurance fraud more effectively. Eurolife ERB will be using FRISS to assess risks at underwriting and to detect fraud during the claims process, has announced FRISS.
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TRENDS & MARKETS
PCS H1 2017 Catastrophe Bond Report: We saw a show of brute market force in the Q2 2017

Following a record-setting first quarter, catastrophe bond issuance activity surged even further. Sponsors completed 21 transactions and raised an eye-popping USD 6.5 billion. That brought first-half totals to 29 transactions and nearly USD 8.8 billion in new limit, reads the recent PCS H1 2017 Catastrophe Bond Report.
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ON THE MOVE
MMC appoints John DOYLE CEO of Marsh
by Vlad BOLDIJAR, 2017-07-12
Marsh & McLennan Companies (MMC) announced the appointment of John DOYLE as Chief Executive Officer of Marsh, effective immediately, replacing Peter ZAFFINO after his recently announced move to AIG.
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James KENT to replace CAVANAGH as global CEO of WILLIS Re
by Vlad BOLDIJAR, 2017-07-12
Global reinsurance broker WILLIS Re has announced that James Ken will succeed John CAVANAGH as he steps down from his position as global CEO.
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Former Marsh CEO named as Global Chief Operating Officer of AIG
by Vlad BOLDIJAR, 2017-07-12
American International Group (AIG) announced the appointment of Peter ZAFFINO as Executive Vice President, Global Chief Operating Officer effective August 1, 2017.
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PRESS CUTTINGS
BULGARIA: Board of Euroins says EIG's buyout bid is fair

SLOVENIA: Insurer Sava with lower profit due to hail payouts

UKRAINE: Yaroslavsky announces purchase of INGO


INTERVIEW
Nicola RAUTMANN
Market Executive Austria & CEE, Swiss Re

Christian ENGELN
Market Head Russia & CIS, Swiss Re

We currently expect the immediate impact of digitalization to be on sales, with an increased ability to reach clients and offer cross-selling of products. Data could be pre-filled, which is likely to increase sales conversions. The full benefits of digitalization however will depend on the extent to which data owners are able to make use of their data, including sharing it with other parties.
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VIG
JLT

STATISTIC UPDATES
Turkey 1Q2017
Slovenia 1Q2017

OMNIASIG
MARSH

XPRIMM EVENTS
Insurance Master Class with Prof. Karel Van HULLE
22 September 2017, Bucharest, Romania
IIF 2017 - MOTOR Insurance Conference
6 October 2017, Istanbul, Turkey
Insurance Conference - Republic of Moldova
10 October 2017, Chisinau, Republic of Moldova
ICAR 2017 - The International CAtastrophic Risks Forum
18 October 2017, Bucharest, Romania
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
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

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