XPRIMM News
Insurance Newsletter, No. 365, 20 July, 2017

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INTERVIEW - ON THE MOVE - TOP NEWS - CURRENT REPORTS

Global Insurance Forum 2017
HIGHLIGHTS: Global Insurance Forum 2017 gathered in London 500+ delegates from the international re/insurance arena
by Mihaela CIRCU, Alexandru CIUNCAN, 2017-07-17
The 2017 edition of the Global Insurance Forum, an industry benchmark event organized by IIS- the International Insurance Society - ends today in London, after three days of debates. XPRIMM supports the Forum as Media Partner.
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VIDEO: GIF 2017, LONDON: HRH The Prince of Wales welcome address
by XPRIMM, 2017-07-20
"Insurers have to play an important part not only in managing current risks, but also in modelling the future by contributing to a better understanding of risks, to closing the insurance gap and setting an example of responsible investment policy," HRH The Prince of Wales said in his welcome address at GIF 2017.
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GIF 2017 Day1, LONDON : Besides all uncertainties, Brexit may prove also being a progress trigger
by Alexandru CIUNCAN, 2017-07-20
"Brexit and the Future London Market: Renaissance or Bust?" is the topic proposed by the Global Insurance Forum's organizers in the beginning of the event's first day.
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GIF 2017 Day 1, LONDON : Redefining the insurance business of the future
by Alexandru CIUNCAN, 2017-07-20
The "Developed Market Dynamics Panel" has reviewed the main coordinates of the changes driven by the global economic environment's evolution and the technological progress in the insurance filed.
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GIF 2017 Day 1, LONDON : Facing the talent crisis by raising the young generation's interest towards insurance
by Alexandru CIUNCAN, 2017-07-20
The panel titled "Leaders of Tomorrow: Engaging and Developing Our Emerging Talent" has put under debate the talent crisis' issue, exploring the means of getting young professionals more interested by the insurance field.
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GIF 2017 Day 1, LONDON : Looking to the emerging market in search of the future growth
by Alexandru CIUNCAN, 2017-07-20
The panel titled "Emerging Markets Outlook" has explored the current status and the growth perspectives in the emerging insurance markets.
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GIF 2017 Day 2, LONDON : Long term view and sustainable development need a stable legal framework
by Alexandru CIUNCAN, 2017-07-20
The "Regulation for sustainable development" panel has emphasized the need for a stable an reliable legal environment in the insurance field, enabling insurers to design long term development strategies. XPRIMM delegates at GIF 2017 have reported:
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GIF 2017 Day 2, LONDON: Digitalization brings increased capabilities but also more vulnerability to the cyber attacks
by Alexandru CIUNCAN, 2017-07-20
The fast increasing relevance of the cyber risks, as well as the disrupting effect that digitalization will have on the insurance industry made the main topics of the "InsurTech: Innovating for Growth" panel.
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TOP NEWS
STATISTICS: CROATIA 1H2017: 2.4% GWP growth supported by the non-life segment
by Vlad BOLDIJAR, 2017-07-20
The aggregate GWP of Croatian insurers totalled HRK 4.93 billion (EUR 665 million) at the end of June, up by 2.42% on the year, according to the market statistics published on the website of the Croatian Insurance Bureau - CIB.
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1H2017 Nat Cat review: Powerful thunderstorms in the USA, causing large losses; Europe saw a relatively calm first half year
by Daniela GHETU, 2017-07-19
A series of hailstorms and tornadoes in the USA dominated the natural catastrophe statistics in 1H 2017, each causing billions of dollars of losses. Worldwide Nat Cat losses however were below the period's average.
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Natural disasters claimed fewest deaths in 30 years
by Vlad BOLDIJAR, 2017-07-20
Global insured losses from natural disasters during 1H 2017 are estimated at US 22 billion with 76% of these sustained by public and private US insurers, according to "Global Catastrophe Recap: First Half of 2017 report" launched by Impact Forecasting, AON Benfield's catastrophe model development team.
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A.M. Best affirms credit ratings of MILLI Reasurans Turk Anonim Sirketi
A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of MILLI Reasurans Turk Anonim Sirketi (MILLI Re) (Turkey). The outlook remains negative.
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Istanbul flooding's cost for insurers may amount at about USD 57 million
by Daniela GHETU, 2017-07-20
Heavy rainfall and flash floods that hit Istanbul in the early hours of July 18 have cost insurance companies TRY 200 million (USD 57 million), according to experts quoted by hurriyetdailynews.com.
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Cyber insurance: An extreme cyber attack may cost, in aggregate losses, as much as the most severe weather events
by Daniela GHETU, 2017-07-19
According to Lloyd's Class of Business team's estimations, that global cyber market is worth between USD 3 billion and USD 3.5 billion and may reach until 2020 at about USD 7.5 billion.
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SCOR announces an agreement with the FNMF and Matmut
SCOR announces the signature of an agreement with the Federation Nationale de la Mutualite Francaise and Matmut with a view to the acquisition of 100% of the shares of MutRe S.A.
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A.M. Best affirms credit ratings of Halyk-Life, Halyk Bank of Kazakhstan's life insurance subsidiary
A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Halyk-Life, subsidiary of the Halyk Bank of Kazakhstan, JSC . The outlook remains negative.
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TALANX acquired Colombia business of GENERALI for EUR 30 million
by Vlad BOLDIJAR, 2017-07-20
The Italian insurer GENERALI announced it has entered into an agreement to sell its units in Colombia (GENERALI Seguros and GENERALI Vida), to German TALANX Group.
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PRESS CUTTINGS
BOSNIAN competition agency approves takeover of VGT Osiguranje by GRAWE

BULGARIA's EIG Re acquires stake in SLS Realty

KAZAKHSTAN: A.M. Best Affirms Credit Ratings of Victoria Insurance Company JSC


INTERVIEW
Andrea KEENAN
Senior Managing Director - Industry Relations, A.M.Best USA
Vice Chair, Microinsurance Network

Microinsurance helps with financial education, family planning, development of small enterprises and maintenance of health, and the products are typically designed to address the specific needs of any given population. A virtuous cycle develops as this produces income smoothing, larger planning horizons and the development of financial wellbeing. It is challenging because, to be affordable, scale must be achieved.
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VIG
JLT

STATISTIC UPDATES
Croatia 1H2017

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
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

ON THE MOVE
Guy Carpenter appoints Tom HETTINGER to lead advisory capabilities in United States and Canada
by Daniela GHETU, 2017-07-19
Guy Carpenter & Company announced on 17 July the appointment of Tom HETTINGER to lead its capital, structured risk, growth and rating agency advisory capabilities in the United States and Canada.
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CHUBB names Ross BERTOSSI Vice President, Global Underwriting, CHUBB Group
by Vlad BOLDIJAR, 2017-07-19
CHUBB announced that it has named Ross BERTOSSI Vice President of Global Underwriting for CHUBB Group. He succeeds Jacques BONNEAU who announced his retirement, effective at year-end.
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Tokio Millennium Re appoints Brian SECRETT as Chief Underwriting Officer
by Daniela GHETU, 2017-07-19
Tokio Millennium Re AG (TMR) announced on 14 July the appointment of Brian SECRETT as the Company's new Chief Underwriting Officer (CUO) and member of the Executive Committee with effect from 1 October 2017, subject to regulatory approvals.
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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