XPRIMM News
Insurance Newsletter, No. 367, 17 August, 2017

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TRENDS & MARKETS - TOP NEWS - INSURANCE & TECHNOLOGY - CURRENT REPORTS

TOP NEWS
Global total economic losses of USD 44 billion from Cat risks in 1H2017, the preliminary sigma estimates show
by Daniela GHETU, 2017-08-17
According to preliminary Swiss Re's sigma estimates, total economic losses from disasters were USD 44 billion in 1H2017, significantly down from USD 117 billion in 1H2016, as a result of fewer and less intense events.
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PCS: Insured cat losses in the US reached the highest peak in 1H2017 since 2011
by Daniela GHETU, 2017-08-17
1H2017 US insured catastrophe losses have reached the highest value since 2011, slightly exceeding USD 15 billion, says the recently released PCS H1 H1 2017 Catastrophe Review.
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STATISTICS: ROMANIA: GWP of EUR 567 million and a new market leader
by Vlad BOLDIJAR, 2017-08-17
Romanian insurance market totaled RON 2.56 billion (EUR 567 million) at the end of March 2017, up by 8.2% y-o-y, according to the quarterly market data published by the ASF.
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STATISTICS: SLOVAK Rep, 1Q2017: GWP went up by 4.6% y-o-y while paid claims increased by 6.7%
by Vlad BOLDIJAR, 2017-08-17
In 1Q2017 the Slovak insurance market totaled EUR 569.5 million, 4.6% up y-o-y, the statistics published by the National Bank of Slovakia (NBS) indicated.
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PZU adopts emergency measures to support customers affected by the last week's extreme windstorms
by Daniela GHETU, 2017-08-17
Following the extreme stormwind that hit Poland on the night of 11 August the country's largest insurer, PZU, has already received more than 16,000 property damage and agricultural claims and over 6,000 motor insurance claims.
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Azerbaijan: Premiums written for real estate and motor insurance compulsory policies amounted to EUR 36 million in Jan-July 2017
by Daniela GHETU, 2017-08-17
In the first seven months of 2017, Azeri insurers members of the Compulsory Insurance Bureau have concluded 49,151 compulsory real property insurance agreements, 695,557 MTPL policies and 17,231 Green Card policies.
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HANNOVER Re: Positive 1H results support the group's expectation for a yearly net income exceeding EUR 1 billion
by Daniela GHETU, 2017-08-17
With GWP increasing by 8.6% and a 7% y-o-y higher operating profit in 1H2017, HANNOVER Re expects to achieve a net income for the full year exceeding EUR 1 billion.
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SAMPO, 1H2017: The Baltic P&C insurance business provided about 8% of the group's profit before taxes
by Daniela GHETU, 2017-08-17
Sampo Group's profit before taxes for 1H2017 amounted to EUR 865 million, aprox. 3% less y-o-y. Sampo is the parent group of If P&C Insurance, one of the major players in the Baltic insurance market.
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ZURICH Group, 1H2017: 14% increase on the operating profit, excluding the Ogden impact
by Daniela GHETU, 2017-08-17
ZURICH Group's business operating profit for 1H2017 rose 14%, excluding the impact of Ogden. The Group remains on track to achieve its strategic objectives for 2017-2019, expecting a 12.5% BOPAT ROE (excluding Ogden).
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Based on 1H results TALANX raises its 2017 net income outlook and anticipates a return on equity of around 9.0%.
by Daniela GHETU, 2017-08-17
The TALANX Group has increased its net income for 1H2017 by 14.9% to EUR 463 million. The Retail Germany and Industrial Lines divisions had the largest contribution to the overall result.
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ERGO in the Baltic States: More claims paid in accordance with the growth
by Daniela GHETU, 2017-08-17
GWP concluded by ERGO in the Baltic States during 1H 2017 have totaled EUR 111 million (1H2016: EUR 96 million), while customers in region were paid EUR 69 million euros in claims (EUR 68 million euros).
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M&A operations in the European insurance dropped by 28% y-o-y, mostly driven down by the Brexit uncertainty
by Daniela GHETU, 2017-08-17
The volume of completed M&A worldwide in the insurance industry continued its downward trend with 170 deals in 1H2017 compared to 186 in 1H2016, according to the Clyde & Co Growth Report mid-year update.
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A.M. Best affirms credit ratings of Compagnie Centrale de Reassurance
by Daniela GHETU, 2017-08-17
A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Compagnie Centrale de Reassurance (CCR) (Algeria). The outlook of these Credit Ratings (ratings) is stable.
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A.M. Best assigns credit ratings to Ingosstrakh Insurance Company SPAO
by Daniela GHETU, 2017-08-17
A.M. Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" to Ingosstrakh Insurance Company SPAO (Ingosstrakh) (Russia). The outlook assigned to these Credit Ratings (ratings) is stable.
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A.M. Best affirms credit ratings of Polish Re to A-, stable outlook
by Daniela GHETU, 2017-08-17
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland). The outlook of these Credit Ratings (rating) is stable.
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Register now at the IFRS 9 Implementation and Stress Testing MasterClass!
by Adina TUDOR, 2017-08-16
IFRS 9 will come into effect on 1 January 2018, which means that it is becoming crucial to get up to speed with the new regulations.
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PRESS CUTTINGS
Achmea's operational result increased to EUR 223 million

BULGARIA's EIG increases stake in Euroins in buyout bid

CROATIAN insurers' end-July gross written premiums rise 2.39% y/y

NN Group reports 2Q17 results

TURKEY: Insured losses from Turkish storms rise

INSURANCE & TECHNOLOGY
How technology impacts the insurance sector

Rather than merely adding value to the insurance sector, technology and technical innovations are now determining its very growth and evolution.
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VIG
JLT

STATISTIC UPDATES
Romania 1Q2017
Slovak Rep. 1Q2017

TRENDS & MARKETS
Fitch: The "Big Four" European reinsurers resist pricing competition

Pricing discipline by Munich Re, Swiss Re, Hannover Re and SCOR is proving an important competitive advantage in the face of declining market pricing and investment yields, Fitch Ratings says in a report published on 16 August.
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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

TRUST RE

PARTNER EVENTS
Consumer Protection in New Era - Innovation vs. Regulation
4 September, 2017, Ljubljana, Slovenia
Les Rendez-vous de Septembre 2017
9-14 September, 2017, Monte Carlo, Monaco
XVII International Finance Forum
13-16 September, 2017, Odessa, Ukraine
7th Annual Risk Management Forum
14-15 September, 2017, Vienna, Austria
International Conference "RISKS & CLAIMS-2017"
20 September, 2017, Moscow, Russian Federation
Pricing in Personal Lines Insurance
21-22 September, 2017, London, United Kingdom
IFRS 9 Implementation and Stress Testing MasterClass
21-22 September, 2017, Vienna, Austria
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

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