XPRIMM News
Insurance Newsletter, No. 429, 29 November, 2018

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES
TOP NEWS
VIG's underwritings up by 2.9% in Q3; year end targets confirmed
by Mihaela CIRCU, 2018-11-28
Vienna Insurance Group (VIG) continued its stable upward trend in 3Q 2018, achieving a further improvement in key figures. Given the positive development, VIG disclosed for the year end a GWP EUR 9.5 billion target and a result before taxed expected figure of EUR 450 - 470 million.
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STATISTICS: LITHUANIA, 3Q: Insurers' GWP increased by EUR 75 million, fueled especially by the two motor classes
by Andrei Victor, 2018-11-29
Lithuania's insurance market increased by almost 13% y-o-y totaling EUR 655 million at the end of September 2018, according to the Lietuvos bankas's 3Q figures.
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Romanian MTPL's market stabilization pushes the EIG's business down by 10%
by Andrei Victor, 2018-11-26
The Bulgarian holding EROHOLD said its 3Q2018 revenues from insurance activity amounted to BGN 667.3 million (EUR 342 million). Compared to the same period in 2017, the revenues from insurance activity decreased by 6.6%.
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VIG's reinsurance business expands its international footprint by opening a branch in Paris
by Daniela GHETU, 2018-11-26
VIG Re opens its second branch, in Paris, in November 2018. This marks the next step in the planned expansion of the Vienna Insurance Group's (VIG) reinsurance company in the West European market.
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CROATIA osiguranje, best insurer in 2018 according to the Croatian Chamber of Economy
by Daniela GHETU, 2018-11-29
CROATIA osiguranje is the 2018 winner of the "Zlatna Kuna" award in the insurance industry, a recognition of the relevant role played by the company in the local financial market, presented by the Croatian Chamber of Economy.
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The CEE real estate market - increasing demand for title insurance
by Daniela GHETU, 2018-11-29
"Fifteen years after its introduction, title insurance continues to play a growing role in the CEE real estate market," Jean-Bernard WURM, Co-Founder & Managing Director of Secure Legal Title, London said talking to Property Forum about the trends in the CEE region's real estate sector.
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ALLIANZ receives CBIRC approval to establish the China's first fully-owned foreign insurance holding company
by Andrei Victor, 2018-11-26
ALLIANZ announced that it has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) for the preparatory establishment of an insurance holding company in China.
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Zurich Insurance, Reinsurer of the Year at the 5th Middle East Insurance Industry Awards
by Daniela GHETU, 2018-11-29
The 5th Middle East Insurance Industry Awards (MIIA) gala dinner held in Dubai on 26 November saw Zurich Insurance winning for the second consecutive year the Reinsurance Company of the Year award.
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AXA's new division, AXA XL, adopts the Group's sustainability and climate strategy
by Daniela GHETU, 2018-11-28
AXA announced that it will involve also AXA XL, its new division created after the XL acquisition, in the Group's sustainability and climate strategy, in an effort that might cost up to EUR 100 million in GWP, as well as EUR 660 million in divestment related to AXA's investment exclusions policy.
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Free Webinar: UBER, Zurich, Direct Line Group on transforming innovative insurance product ideas into reality
by Adina TUDOR, 2018-11-26
The innovation race is on in insurance, to deliver relevant product and services for the modern customer. Join UBER, Zurich, Direct Line Group in an investigation on what products must look like, and in a practical sense, how insurers are going out to achieve this.
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STATISTICS: BELARUS, 3Q2018: paid claims amounted to almost half of the total market GWP
by Marina MAGNAVAL, 2018-11-29
Insurers of Belarus for 3 quarters in 2018 generated GWP in the amount of BYN 906.62 million (EUR 369.49 million). The market growth in local currency reached 16.1% and in euro the growth was less impressive - by 9.49% only.
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RUSSIA: the XVII Annual November Business Meetings for Reinsurers took place on November 21-22, 2018 in Moscow
by Marina MAGNAVAL, 2018-11-29
The XVII Annual November Business Meetings (NBM) for Reinsurers took place on November 21-22, 2018 in Moscow in the Modern Business Center located in the historic building in the very center of Moscow, according to the post release of the Delovoy Format Group.
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AZERBAIJAN: MTPL reaches its peak, and life insurance may become the next market leader
by Marina MAGNAVAL, 2018-11-29
According to the Chairman of the Azerbaijan Insurers Association (AIA) Mustafa ABBASBAYLI, MTPL on the Azeri insurance market is reaching its peak, Trend News Agency informed.
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QALA Insurance has announced ambitious plans for 2019
by Daniela GHETU, 2018-11-29
Azerbaijani QALA Insurance plans to collect AZN 16 million in premiums by the end of 2018, which would mean a 54.1% y-o-y growth, Deputy Chairman of the company Taleh YUSIFOV said recently, quoted by Trend.
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STATISTICS: MOLDOVA, 3Q2018: motor insurance keeps more than 70% of the market
by Marina MAGNAVAL, 2018-11-29
Insurance market of Moldova as of the end of September went up by 2.27% y-o-y. At that, thanks to the favorable exchange rate evolution against euro, the market growth in European currency amounted to 7.36% (GWP of EUR 55.27 million).
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KAZAKHSTAN: Swiss Re is expanding its presence in Kazakhstan based on agro insurance
by Marina MAGNAVAL, 2018-11-29
Swiss Re is ready to extend its presence in Kazakhstan, according to the agro insurance underwriter of Swiss Re for Eastern Europe, Russia, Ukraine and Kazakhstan, Marcel ANDRIESSE (Senior underwriting Agriculture).
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RUSSIA: total volume of lost crops in 2018 amounted to 1.2 million hectares with insured crops of 625 thousand hectares
by Marina MAGNAVAL, 2018-11-28
Claims paid to farmers in 1H2018 reached RUB 706 million, while only 625 thousand hectares out of the total volume of 1.2 million hectares affected by natural disasters were covered by insurance, informed Korney BIJDOV at the annual forum "Insurance business during the era of changes", on October 30, 2018 in Moscow.
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UKRAINE: GWP of UNIQA group for 9 months went up by 27% y-o-y
by Marina MAGNAVAL, 2018-11-29
UNIQA Group's Ukrainian subsidiaries, UNIQA and UNIQA Life, generated GWP in the amount of UAH 2 billion (~EUR 60.37 million) in 3Q2018, which is 27.1% more y-o-y, as Forinsurer informed.
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UKRAINE: for 9 months in 2018 insurance reserves went up by 15% y-o-y
by Marina MAGNAVAL, 2018-11-29
Insurance reserves of Ukrainian insurers as of the end of September amounted to UAH 24.8 billion (+15% y-o-y; ~EUR 748.6 million), according to the member of the National financial services committee of Ukraine, Alexander ZALETOV.
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UKRAINE: GWP of UNIQA group for 9 months went up by 27% y-o-y
by Marina MAGNAVAL, 2018-11-29
UNIQA Group's Ukrainian subsidiaries, UNIQA and UNIQA Life, generated GWP in the amount of UAH 2 billion (~EUR 60.37 million) in 3Q2018, which is 27.1% more y-o-y, as Forinsurer informed.
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INTERVIEW
JLTMartin Divis, CEO, Kooperativa pojisovna, a.s., Vienna Insurance Group
by Daniela GHETU, 2018-11-26
This year, the Czech insurance market has been highly influenced by new legislation. It is not easy to cope with all the changes. It is a challenge, but also a chance to improve what works and to change what does not work well so that our obligations and requirements favour the customers, make insurance products more accessible, and we can improve the understandability of every deal.
Better customer protection is a priority for me, but I suppose that overregulation by the EU in any field, even though well-meant, can bring about just the opposite. It creates a stressful environment which drains resources and hinders creativity and innovation.
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JLT
VIG

On the move
JLT Oliver BAETE reconfirmed ALLIANZ's Chairman of the Board for another five years term, until 2024
by Andrei Victor, 2018-11-26
The Supervisory Board of ALLIANZ SE extended Oliver BAETE's contract as Chairman of the Board of Management until September 2024. The original contract was to expire end of September 2019.
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JLTJacek JASTRZEBSKI is the new Chairman of the Polish Financial Supervision Authority
by Daniela GHETU, 2018-11-28
KNF- the Polish Financial Supervision Authority has announced the appointment of Jacek JASTRZEBSKI as Chairman of the market regulator, replacing Marek CHRZANOWSKI who resigned amid corruption allegations.
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STATISTIC UPDATES
  LITHUANIA, 3Q2018
  MOLDOVA, 3Q2018
  BELARUS, 3Q2018

TRUST RE

PRESS CUTTINGS
Armenian insurance companies post 77% drop in net profit

Albanian insurers Jan-Oct gross written premiums up 5.1%

Bulgaria's Lev Ins planning to offer MTPL insurance in Poland

Bulgarian insurer Lev Ins planning to offer services in Norway

Bulstrad VIG winning tender bid challenged by Bulgaria's OZK Insurance

Croatian insurers' Jan-Oct premiums rise 9.5% y/y

Kazakh National Bank announces tender for vehicle insurance

Turkey:Agents' body calls for customised medical insurance pricing

Turkish municipality announces tender for compulsory insurance of vehicles

Uzbekistan's insurance firms collect almost twice more premiums


ERGO
EUROINS

PARTNER EVENTS
FinTech Connect
5 - 6 December 2018, Excel London, UK

November Business Meetings (NBM) for Reinsurers
21-22 November 2018, Moscow, Russia

IFRS 9 After Implementation In-House Training
Date, venue & schedule - chosen by the applicants

10th Bancassurance Africa Summit 2019
12 - 15 February 2019 Cape Town, South Africa

Insurance Mediation Awards
21 February 2019 Bucharest, Romania

IIF 2019 - Actuarial Trends in the SEE Region
28 February 2019, Skopje, Macedonia

Bancassurance Asia Masterclass 2019
21-22 November 2018, Moscow, Russia

Georgian International Insurance Conference
14 - 15 March 2019, Tbilisi, Georgia
Romanian Insurance Market Awards Gala
3 April 2019 Bucharest, Romania
IIF 2019 - MOTOR Insurance Conference
8 April 2019 Bristol Hotel, Vienna, Austria
IIF 2019 - Property Conference
9 April 2019 Bristol Hotel, Vienna, Austria
European Consumer Protection Conference
17 May 2019 Intercontinental Hotel, Bucharest, Romania

OMNIASIG
MARSH

CURRENT XPRIMM REPORTS
Ins. Report CEE, SEE & CIS – 1H2018
KAZAKHSTAN FY2017 & 1H2018
TURKEY FY2017 & 1H2018
RUSSIA 1H2018
ROMANIA 1H2018
Motor Ins. Report FY2017
Property Ins. Report FY2017

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