XPRIMM News
Insurance Newsletter, No. 373, 28 September, 2017

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INTERVIEW - TOP EVENT - TOP NEWS - CURRENT REPORTS


TOP NEWS
VIG Re opens a branch office in Frankfurt
by Daniela GHETU, 2017-09-28
VIG Re will open its first branch office, based in Frankfurt am Main, Germany. The new operation will start September 29, 2017 to assume non-life treaty reinsurance business.
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Bulgarian EUROINS Insurance Group launched Boosts! it's FinTech initiative
by Vlad BOLDIJAR, 2017-09-28
Bulgarian EUROINS Insurance Group (EIG) has launched Boosts! EIG's FinTech initiative. The initiative is meant helping EIG to compete with the largest players in the industry in pursuing the Group strategic goal of becoming "the largest independent insurance group in CEE and SEE".
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STATISTICS: LATVIA, 1H2017: Life insurers' profit more than halved
by Vlad BOLDIJAR, 2017-09-28
The Latvian insurance market totaled EUR 327.4 million at the end of June 2017, 15.4% more y-o-y. At the same time, the insurance companies paid EUR 178.7 million in claims (3.9% more y-o-y).
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STATISTICS: MACEDONIA, 1Q2017: Gross written premiums up by 4.68% y-o-y
by Vlad BOLDIJAR, 2017-09-28
At the end of March 2017, the Macedonian insurance market totaled about MKD 2.24 billion (EUR 36.37 million), up by 4.68% y-o-y, according to data provided by the local Insurance Supervision Agency.
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Providing too much information, rather troubles consumers than helps them
by Daniela GHETU, 2017-09-28
Whilst clients will welcome more clearer and comprehensible insurance conditions and a transparent approach from insurers, too much and complex information may reduce the willingness and ability of the consumer to process it, Czech insurers warn.
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PwC: Cyber insurance market set to reach USD 7.5 billion by 2020
by Daniela GHETU, 2017-09-28
The global cyber insurance market could grow to USD 5 billion in annual premiums by 2018 and at least USD 7.5 billion by the end of the decade, according to a new report issued by PwC
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Hungarian CIG Pannonia Life has announced a reduction in its share capital
by Daniela GHETU, 2017-09-28
CIG Pannonia Life Insurance decided on the decrease of the Company's capital by HUF 13,333,320 with the purpose of equity withdrawal, a company press release has announced.
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STATISTICS: CYPRUS, 1H2017: Life policies generate about half of the incurred claims
by Vlad BOLDIJAR, 2017-09-28
In the first half of the year, the total volume of GWP by the Cypriot insurers member of IAC - the local professional association - was EUR 427 million, up by 6% y-o-y.
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Kazakh Standard Insurance Company's A.M. Best rating affirmed
by Daniela GHETU, 2017-09-28
A.M. Best has affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of "b+" of Standard Insurance Company JSC (Kazakhstan). The outlook of these Credit Ratings (ratings) remains stable.
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Lloyd's 1H profit 16% lower y-o-y, but improved underwriting result
by Daniela GHETU, 2017-09-28
Lloyd's, the specialist insurance and reinsurance market, today announced a profit of GBP 1.22 billion for 1H2017, about 16% less y-o-y, with the publication of its interim report.
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MEXICO CITY - Insured losses may amount to nearly USD 5 billion, cat modelling companies say
by Daniela GHETU, 2017-09-28
Several catastrophe modeling companies have already issued their first assessments on the insured losses from the Mexico City earthquake: in the range of USD 731.6 million - USD 4.8 billion anything is possible.
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Losses caused in Croatia by the extreme weather events may amount to over EUR 300 million in the half year
by Daniela GHETU, 2017-09-28
According to the State Commission for Assessment of Damages from Natural Disasters extreme weather events has caused losses of EUR 308 million this year in Croatia, much higher than the resources set aside by the state for compensating such losses.
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ON THE MOVE
Philipp BARDAS appointed new VIG General Secretary
by Vlad BOLDIJAR, 2017-09-28
Starting with 1 October 2017, Philipp BARDAS will be the new Head of the Vienna Insurance Group (VIG) General Secretariat.
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PRESS CUTTINGS
ARMENIA: In 2018 a mobile version of registration of insurance cases on the euro-protocolwill be introduced

AZERBAIJAN: Local insurance market resumes growth

CROATIAN insurers' end-Aug gross written premiums up 2.82% y/y

GREECE: CEO of Calamos Investments said that acquiring Ethniki Insurance "made business sense, but also I was proud to try to help the country in some way"

KAZAKHSTAN: Draft law of RK on insurance matters presented in Government

SLOVENIA: Adris launches dispute over Sava Re takeover rejection

INTERVIEW
Petar-Pierre MATEK
President of the Board
HANFA

Overall, we can say that there are signs of recovery on the Croatian insurance market. Premium growth in 1H2017 was 2.7% in total (3.8% in non-life and 0.4% in life insurance) in comparison with the same period last year.
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VIG
JLT

STATISTIC UPDATES
Latvia 1H2017
Cyprus 1H2017
Macedonia 1Q2017

OMNIASIG
MARSH

XPRIMM EVENTS
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
AIAG Congress 2017
1-4 October 2017, Warsaw, Poland
Chief Analytics Officer, Fall
2-5 October 2017, Boston, United States
The 9th International Istanbul Insurance Conference
5 October 2017, Istanbul, Turkey
Baden Baden Meetings 2017
22-26 October 2017, Baden Baden, Germany
Croatian Insurance Days 2017
8-10 November 2017, Opatija, Croatia

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 FY2016
Property Ins. Report FY2016

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