XPRIMM News
Insurance Newsletter, No. 428, 22 November, 2018

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES
TOP NEWS
GENERALI 2021 - the strategic lines of development of the Italian group unveiled today
by Daniela GHETU, 2018-11-22
The Italian group GENERALI has announced today its strategic lines of development until 2021, built on three strategic pillars which include initiatives that will each contribute towards delivery of the Group's financial targets: Profitable growth; Capital Management and Financial Optimization; Innovation and Digital Transformation.
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PZU Group, 3Q2018: the highest quarterly profit for 5 years and record GWP
by Daniela GHETU, 2018-11-21
In Q3 2018 the PZU Group recorded the highest quarterly net profit in the last five years. At Group level, the net profit reached PLN 1.56 billion (EUR 366.75 million) in Q3 and increased by 34.6% y-o-y, to PLN 3.9 billion (EUR 916.9 million) for the first three quarters.
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SAVA Re Group, 3Q2018: 39.2% growth in net profit and 8.1% growth in revenue
by Daniela GHETU, 2018-11-22
In the first nine months of the year, the SAVA Re Group achieved high growth of 8.1% in its revenue of EUR 393.3 million. The income structure already reflects the benefits of the acquisitions finalized in 2018, which also include non-insurance activities.
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STATISTICS: SLOVENIA, 3Q2018: Top 5 insurers account together for more than three quarters of the market GWP
by Daniela GHETU, 2018-11-22
Slovenian insurers reported for 3Q2018 GWP worth EUR 1.78 billion, by 6.6% up y-o-y. Paid claims have increased by 4.8%, to EUR 1.15 billion. Life insurance, in particular the UL products line, have seen the highest growth rates.
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BMW, Audi and Toyota the most popular brands among the car thieves in Latvia
by Daniela GHETU, 2018-11-22
BMW, Audi and Toyota are the brands most targeted by the car thieves in Latvia, as well as seven to 12 years old automobiles, a representative of BALTA Insurance - member of the PZU Group, stated for the LETA news agency.
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STATISTICS: Greece, 3Q2018: Non-Life pushed-up the quarterly figures
by Andrei Victor, 2018-11-22
The Greek insurers reported aggregate GWP of EUR 2.87 billion at the end of September 2018, up by 2.1% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC).
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STATISTICS: TURKEY, 3Q2018: double digit growth/decrease rates depending on the currency of denomination
by Daniela GHETU, 2018-11-22
The Turkish insurance market ended 3Q2018 with GWP worth TRY 39.5 billion, 18.16% up y-o-y. Yet, the dramatic depreciation of the Turkish Lira against Euro has affected once again the market results denominated in European currency, translating them in a double digit negative change.
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SCOR announces the creation of SCOR Europe se, its new P&C specialty insurance company for its clients in the European Union
by Daniela GHETU, 2018-11-22
SCOR announced the creation of SCOR Europe SE, its new Paris-based P&C specialty insurance company, which has been approved by the French supervisory authority, the ACPR (Autorite de Controle Prudentiel et de Resolution).
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UNIQA Group, 3Q2018: increasing GWP in both core markets and optimistic earnings outlook for 2018
by Daniela GHETU, 2018-11-22
In 3Q2018, UNIQA Insurance Group increased its recurring premiums written including the savings portion by 3.1%, while total group premiums remained stable at EUR 4,042.3 million. Earnings before taxes up 17.1% to EUR 212.4 million
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GENERALI launched GGP - the new global business unit dedicated to pensions
by Andrei Victor, 2018-11-21
Italian financial group GENERALI has launched GENERALI Global Pension (GGP), a new business unit dedicated to pensions. GGP is headed by Anne de LANVERSIN.
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Brexit: UK insurers are preparing for loss of passporting rights
by Daniela GHETU, 2018-11-22
The majority of A.M. Best rated insurance groups affected by Brexit have either completed or initiated a transfer of their EEA business from their UK insurer to an affiliated EEA insurer, a briefing published by the rating agency says.
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Brexit: TOKIO MARINE received the regulators approval to transfer the portfolio to Lux entity
by Andrei Victor, 2018-11-21
TOKIO MARINE Group will transfer the existing portfolio of policies written out of Continental European operations to its newly established insurance company subsidiary, TOKIO MARINE Europe S.A. (TME), in preparation for the UK's exit from the European Union (EU).
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AXA XL's reinsurance operation acquires all interests in New Ocean Capital Management
by Andrei Victor, 2018-11-21
AXA XL's Reinsurance operation announced that it has acquired all third-party ownership interests in its majority-owned asset management affiliate, New Ocean Capital Management Limited.
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STATISTICS: KYRGYZSTAN, 3Q2018: property insurance takes about 50% of GWP
by Marina MAGNAVAL, 2018-11-22
For 9 months in 2018 GWP of Kyrgyz insurers amounted to KGS 638.96 million, according to the report of the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic.
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RUSSIA: replacement in kind in MTPL is below 15-20%
by Marina MAGNAVAL, 2018-11-22
According to the Deputy executive director of the Russian Association of Motor Insurers (RAMI), Sergey EFREMOV, as of now the share of replacement in kind in MTPL is below 15-20%.
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RUSSIA: the national rating of VTB Insurance confirmed at ruAAA
by Marina MAGNAVAL, 2018-11-22
The national agency Expert RA confirmed the rating of VTB Insurance at ruAAA with stable forecast followed 100% sale of VTB Insurance to SOGAZ in November 2018, ASN wrote.
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UKRAINE: 93.5 thousand of e-MTPL sold since e-policy launch this year
by Marina MAGNAVAL, 2018-11-22
MTIBU (Motor Transport Insurance Bureau of Ukraine) announced 93,519 e-MTPL policies were sold in Ukraine since the launch of e-policies (on February 7, 2018) until November 12. Total GWP volume under e-policies amounted to UAH 66.4 million.
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UKRAINE: GWP of TAS from January to October went up by 38.5% y-o-y
by Marina MAGNAVAL, 2018-11-22
TAS insurance group reported for the first 10 months of this year GWP worth UAH 1.14 billion (+ 38.5% y-o-y) and paid claims of UAH 436.83 million (+49.8% y-o-y), Forinsurer wrote.
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Markets&Trends
Global economic growth is solid but slowing, and emerging Asia will continue to power the insurance market, sigma says
by Daniela GHETU, 2018-11-22
Global premiums are forecast to grow by around 3% annually in 2019 and 2020, mostly driven by the high growth rates in emerging Asia which may be as by three times more than the global average. The economic power shift from west to east will drive insurance sector development to 2020 and beyond. Expanding the boundaries of insurability for corporate intangible assets will be another main growth area for insurers
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INTERVIEW
JLTZoran NARASANOV, CEO WINNER - Vienna Insurance Group, Macedonia
by Daniela GHETU, 2018-11-22
Digitalization, as one's habit, need, and preference, was a big step forward for all of us this year, not only in digital sales, online travel insurance policies, online renewal of domestic MTPL, but in digital claims check in as well. The software solution, Winner, was developed to offer safer and more advanced, quick and easy access to the company's services to improve the customer experience. For being pioneers in implementing this software in Macedonia and accepting the challenge we got 2nd place in the VIG Exelerate program.

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JLTSebastijan ZLEBNIK, CEO, CDA 40
by Mihaela CIRCU, 2018-11-22
Romania is a bigger market than Slovenia and is expected to grow. According to the information we received, there are also a lot of projects waiting to be launched and this gives us an optimistic outlook on the development of the business in Romania. The construction market also shows a positive trend in 2018.
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JLT
VIG

On the move
MARSH the formation of MARSH-JLT Specialty and its leadership
by Andrei Victor, 2018-11-21
The global insurance broker MARSH announced the formation of MARSH-JLT Specialty - the new specialty business that combines the specialty teams of MARSH and JARDINE LLOYD THOMPSON Group (JLT) and will be headed by Dominic BURKE, currently CEO of JLT Group.
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GANZI to replace McCann as Chairman of the WTW Board from 1 January 2019
by Andrei Victor, 2018-11-21
WILLIS TOWERS WATSON announced that Victor GANZI will replace James McCann as Chairman of the Board from 1 January 2019. McCann will continue to serve as a Director and as Chairman of the Nominating and Governance Committee, as the broker stated in a press release.
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Lloyd's COO to leave the organisation
by Andrei Victor, 2018-11-22
Lloyd's of London announced that its Chief Operating Officer, Shirine KHOURY-HAQ, has decided to leave the Corporation, after nearly five years.
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STATISTIC UPDATES
  SLOVENIA, 3Q2018
  TURKEY, 3Q2018
  KYRGYZSTAN, 3Q2018
  GREECE, 3Q2018

TRUST RE

PRESS CUTTINGS
Agricultural insurance program to gradually expand coverage in Armenia

KBC Group: Third-quarter result of 701 million euros


NN Group reports 3Q18 results


The Green Card System post-Brexit

TURKEY: Govt to make building completion insurance mandatory for urban renewal works


TURKEY: Insurance regulatory chief looks to technology to transform supervisory functions


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EUROINS

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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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