XPRIMM News
Insurance Newsletter, No. 375, 12 October, 2017

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INTERVIEW - TRENDS & MARKETS - TOP EVENT - TOP NEWS - CURRENT REPORTS

Swiss Re

Live from Vienna
The current challenges for insurance markets and supervision in the Central, Eastern and South Eastern European region, debated in Vienna
by Alexandru CIUNCAN, 2017-10-12
Insurance professionals, as well as representatives of the local and regional authorities, gather on 12-13 October in Vienna, Austria, at the "Current Challenges for Insurance Markets and Supervision in the Central, Eastern and South Eastern European region" Conference.
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TOP EVENT: Insurance Conference - Republic of Moldova
Main conclusions: The Insurance Conference - Republic of Moldova
by Alexandru CIUNCAN, 2017-10-12
One of the most important annual events dedicated to the regional insurance market, The Insurance Conference - Republic of Moldova, took place on 10 October in Chisinau, gathering over 120 professionals from Moldova, Romania, Russia, Ukraine, Holland, Germany, The Czech Republic, Poland, Croatia and Latvia.
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TOP NEWS
VIG is the new market leader in Bulgaria
by Vlad BOLDIJAR, 2017-10-12
Austrian insurer VIG announced that its Bulgarian units BULSTRAD and BULSTRAD Life dominate the local insurance market, a combined market share of 14.5% in Bulgaria and GWP of EUR 84 in 1H2017.
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STATISTICS: Bosnia, 1H2017: Insurers based in Srpska Rep. increased their share to about one third of the market
by Vlad BOLDIJAR, 2017-10-12
The insurance market of Bosnia and Herzegovina continued its ascending path during the first half of 2017, recording a 8.9% increase in GWP, to EUR 176.4 million.
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UNIQA invests EUR 1 million in a Czech start-up
by Vlad BOLDIJAR, 2017-10-12
UNIQA Insurance Group invests EUR 1 million into the Czech fintech company TWISTO as part of a EUR 5 million series A investment round with Lead investor ING Group taking EUR 4 million.
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Bulgarian high risk drivers will pay more for MTPL insurance starting 2018
by Daniela GHETU, 2017-10-12
The Financial Supervision Commission in Bulgaria has decided that beginning with 2018 drivers with a "spottiness" driving history will pay a higher fee for the MTPL insurance, reports Novinite.
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Less than one month to the "Croatian Insurance Days"
by Daniela GHETU, 2017-10-12
Between 8 and 10 November 2017, the traditional international scientific and professional conference on insurance, the "Croatian Insurance Days", will be held in Opatija, Croatia.
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STATISTICS: Turkish insurers pushed down the SEE market by 7.2% y-o-y
by Vlad BOLDIJAR, 2017-10-12
The South Eastern European insurance market (SEE) formed by Cyprus, Greece and Turkey totaled EUR 8.09 billion at the end of June 2017, down by 7.2% y-o-y, according to the preliminary figures centralized by XPRIMM.
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STATISTICS: Georgia 1H2017: Top 5 insurers account for about 80% of the market GWP
by Olesea ADONEV, 2017-10-12
In the first half 2017, the Georgian insurance market went up by 7.57%, to GEL 247.38 million, according to data published by the Insurance Supervisory Office - ISO. Claims paid by insurers increased by 9.76% to GEL 116.30 million.
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STATISTICS: Ukraine, 1H2017: After buying the AEGON unit, TAS Insurance almost doubled its market share
by Olesea ADONEV, 2017-10-12
In 1H2017, GWP collected by local insurers went up by 30%, to UAH 21,222.80 million, of which UAH 19,977.70 million for the non-life insurance segment (up by 33.08%); life insurance saw a GWP decrease of 5.29%.
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STATISTICS: Uzbekistan, 1H2017: Significant mid-year evolution, supported by the voluntary insurance lines
by Olesea ADONEV, 2017-10-12
In the first half of 2017, the local insurance market has shown a significant evolution, up by 25.39% to UZS 435,970 million, according to the preliminary data published by the Information-Rating Agency SAIPRO.
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AON: Q3 2017 is one of the costliest quarters ever registered for natural disasters
by Vlad BOLDIJAR, 2017-10-12
The third quarter of 2017 is likely to bring a new record in terms of costs caused by natural catastrophes, according to "Impact Forecasting", Aon Benfield's catastrophe model development team.
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SCOR estimates net losses of EUR 430 million from recent catastrophes
by Vlad BOLDIJAR, 2017-10-12
French reinsurer SCOR has announced that it expects net losses of EUR 430 million - after retrocession and tax, from recent Harvey-Irma-Maria hurricanes and Mexico earthquakes.
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AIG predicts USD 3.1 billion in Q3 pretax losses after recent hurricanes and earthquakes
by Vlad BOLDIJAR, 2017-10-12
American International Group (AIG) announced it expects to record insurance losses of roughly USD 3 billion during the third quarter from the recent hurricanes and earthquakes.
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OCTO Telematics to acquire UBI assets of Willis Towers Watson and will partner with them on insurance-related products
by Daniela GHETU, 2017-10-12
OCTO Telematics (OCTO), the number one global provider of telematics for the auto insurance industry, has announced it will acquire the usage-based insurance (UBI) assets of Willis Towers Watson, including its market-leading DriveAbility® solution and the DriveAbility Marketplace.
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A.M. Best downgrades credit ratings of GENERALI Lebensversicherung A.G.
A.M. Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to "a-" from "a" of GENERALI Lebensversicherung A.G. (Germany). Concurrently, A.M. Best has placed these Credit Ratings (ratings) under review with negative implications.
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ON THE MOVE
A.M. Best Announces Appointment of Riccardo Ciccozzi as Director, Market Development - Europe
by Daniela GHETU, 2017-10-12
A.M. Best announced that Riccardo CICCOZZI has been appointed director, market development - Europe, effective immediately as part of a strategic growth initiative in Continental Europe.
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Broker MAI CEE is expanding its team to fuel regional expansion
by Daniela GHETU, 2017-10-12
MAI CEE, the leading independent insurance broker in the CEE, has made the first in a series of planned appointments to increase the firm's 200-strong team by 12.5% as part of a major push into domestic markets.
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Carsten QUITTER named ALLIANZ Group CIO and AIM Managing Director
by Vlad BOLDIJAR, 2017-10-12
Carsten QUITTER will become ALLIANZ Group Chief Investment Officer (Group CIO) and, as Managing Director, will take over as Co-Lead of ALLIANZ Investment Management SE (AIM) on January 1, 2018.
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ALLIANZ Global Investors Global COO George McKay to retire in April 2018
by Vlad BOLDIJAR, 2017-10-12
ALLIANZ Global Investors announced that George McKay, its Co-Head, Global Head of Distribution and Global Chief Operating Officer (COO) will take on non-executive Vice Chair role stepping down from executive responsibilities in April next year.
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Charles FRY to join AIG general insurance unit as Head of Reinsurance
by Vlad BOLDIJAR, 2017-10-12
American International Group (AIG) announced that Charles FRY will join the company as Head of Reinsurance, Operations and Transformation, General Insurance, effective immediately.
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Katherine BRENNAN returned to MMC to executive roles
by Vlad BOLDIJAR, 2017-10-12
Marsh & McLennan Companies (MMC) announced that Katherine BRENNAN has been appointed Deputy General Counsel, Corporate Secretary and Chief Compliance Officer.
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Distinguish Panel of Speakers for IIF 2017 - Insurance in a Digital World
by Mihaela CIRCU, 2017-10-12
IIF 2017 - "Insurance in a Digital World", taking place in Vienna, on 14 November an exquisite panel of speakers, that will present, among others, upon digitalization and its impact on sales, underwriting, and claims management.
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INTERVIEW
Klime POPOSKI
PhD, President of the Council of Experts
Insurance Supervisory Agency of Macedonia

For the end of 2017 we expect that the positive trend in both life and non-life insurance will continue, with an emphasized trend of increasing the Unit-link life insurance and reducing the relative participation of the insurance brokers in the intermediation.
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VIG
JLT

STATISTIC UPDATES
Bosnia 1H2017
Georgia 1H2017
Ukraine 1H2017
Uzbekistan 1H2017
  SEE 1H2017

OMNIASIG
MARSH

XPRIMM EVENTS
ICAR 2017 - The International CAtastrophic Risks Forum
18 October 2017, Bucharest, Romania
Baden-Baden XPRIMM Reception
22 October 2017, Baden Baden, Germany
AzRe Evening. 10 years of confidence
22 October 2017, Baden Baden, Germany
IIF 2017 - Insurance in the Digital World
14 November 2017, Vienna, Austria


TRENDS & MARKETS
New insurance solutions to cover evolving exposures that businesses face

The global commercial insurance market was worth about USD 720 billion in premiums in 2016. The 10 largest markets mirror the world's biggest economies, and account for 73% of global commercial premiums. They include the leading industrialised countries of the G7 group, China, Australia and South Korea. The latest sigma study "Commercial insurance: innovation to expand the scope of insurability" is about the innovative risk transfer solutions available to cover the ever-evolving range of exposures that companies face.
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TRUST RE

PARTNER EVENTS
Baden Baden Meetings 2017
22-26 October 2017, Baden Baden, Germany
2nd Annual Connected Claims Europe Summit
24-25 October, 2017, London, United Kingdom
WorldPensionSummit
25-26 October 2017, Louwman Museum, The Hague, Netherlands
Croatian Insurance Days 2017
8-10 November 2017, Opatija, Croatia

EUROINS
GLOBASIG


PRESS CUTTINGS
AZERBAIJAN: FIMSA revokes license of Bashak-Inam Insurance

BULGARIA: Regulator suspends TBI Bulgaria's takeover offer for Bulstrad VIG

GREECE: Ethniki Insurance deal is proceeding

LATVIA U-turns on «farmer-maddening» vehicle insurance amendments

SLOVENIA: Zavarovalnica Triglav generates bulk of Slovenian bourse turnover

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

XPRIMM News