XPRIMM News
Insurance Newsletter, No. 434, 18 January, 2019

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES
TOP NEWS
Czech Rep.: Kooperativa VIG becomes the largest insurer in the country after the merger with PCS
by Andrei Victor, 2019-01-18
Austrian Vienna Insurance Group (VIG) announced its Czech companies Pojistovna Ceske sporitelny (PCS) and Kooperativa merged with effect from 1 January 2019.
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STATISTICS: CROATIA timeline 2008 - 2017: the MTPL prices liberalization was the event with the highest impact on the market evolution
by Cosmin CONCEATU, 2019-01-18
Between 2008 and 2017, the Croatian insurance market saw an 8% decrease in business, in GWP terms. From an absolute value of EUR 1.32 billion recorded in 2008, GWP at the overall market level gradually decreased year by year, until 2015, when the market started to grow again. The positive trend seen in 2016 and 2017 was not strong enough to bring the market at the pre-crisis level.
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RENOMIA buys majority stake in established insurance broker IMG in the Czech Republic
by Daniela GHETU, 2019-01-18
RENOMIA, a leading insurance broker in Central and Eastern Europe, announced it bought a majority stake in IMG, one of the leading Czech insurance brokers providing services to corporate and individuals.
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Bulgaria: Hungarian OTP takes over the banking, leasing and life insurance business from Societe Generale
by Daniela GHETU, 2019-01-18
The sale of the French Societe Generale banking group's Bulgarian subsidiary, SG Expressbank - including the leasing, factoring and life insurance subsidiaries -, to Hungarian OTP Bank was finalized, according to an OTP statement on 16 January.
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STATISTICS: Macedonia, 3Q2018: Local insurance market expanded to EUR 120 million
by Andrei Victor, 2019-01-18
Macedonian insurers nine-months 2018 aggregate GWP amounted MKD 7.4 billion (~EUR 120 million), 8.9% more y-o-y, according to the market figures provided by the Insurance Supervision Agency of Macedonia.
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TURKEY: Authorities extended the ceiling on MTPL premiums for another year
by Andrei Victor, 2019-01-18
The Turkish Ministry of Treasury and Finance has extended for another year the ceiling on MTPL tarrifs.
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Swiss Re: Global NatCat and man-made disaster insured losses estimated at USD 81 billion in 2018; Group's own claims burden to reach USD 2.9 billion
by Daniela GHETU, 2019-01-15
Swiss Re expects a combined claims burden from natural catastrophes and large man-made disasters of USD 2.9 billion for the full year 2018. For the whole industry in 2018, Swiss Re estimates global insured losses of USD 81 billion.
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Guy Carpenter: limited reinsurance rate movement at January 1 despite uncertainty over pricing adequacy and available capital
by Daniela GHETU, 2019-01-15
The overall impact of catastrophe losses on property rates was muted at the January 1, 2019 reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy and the amount of capital available, says Guy Carpenter & Company LLC.
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Willis Re: disciplined cedants, with good loss records achieved risk-adjusted rate reductions at property catastrophe renewals
by Daniela GHETU, 2019-01-15
Reinsurance placements at 1 January 2019 highlight a pricing gap between accounts with peak peril exposures or poor loss records and the rest, with many reinsurers placing emphasis on the quality of client counterparties, the latest 1st View renewals report from Willis Re shows.
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Allianz Risk Barometer 2019: Cyber joins BI as leading global risk for companies
by press.release, 2019-01-18
In the wake of mega data breaches and privacy scandals, major IT outages and the introduction of tighter data protection rules in the European Union and other countries, cyber risk is now a core concern for businesses in 2019 and beyond.
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AM Best upgrades Issuer Credit Rating of Assicurazioni Generali S.p.A.; Assigns Credit Ratings to Generali Espana
by Daniela GHETU, 2019-01-15
AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "a+" from "a" and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries.
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AM Best removes from under review and downgrades credit ratings of HDI Global Specialty SE
by press.release, 2019-01-15
AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Rating to "a+" from "aa" of HDI Global Specialty SE (Germany). The outlook assigned to these Credit Ratings (ratings) is stable.
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The 2nd International Insurance and Reinsurance Congress to be held in Moscow on April 10-12, 2019
by Marina MAGNAVAL, 2019-01-18
in the will take place.
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ARMENIA: export insurance in 2018 increased by 73%
by Marina MAGNAVAL, 2019-01-18
In 2018 export insurance recorded a significant growth. Total insured amount was AMD 7.9 billion (+73% y-o-y), at that total insurance premiums exceeded the planned level for 2018-2020 by 31%, as the press office of the Export Insurance Agency of Armenia announced.
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KAZAKHSTAN: in December 2018 insurers' assets exceeded KZT 1 trillion
by Marina MAGNAVAL, 2019-01-18
According to the Association of Financiers of Kazakhstan, for 11 months in 2018 the insurers' assets went up by 8.6%, and by the beginning of December they exceeded KZT 1 trillion amounting to KZT 1,004.8 billion.
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KAZAKHSTAN: total amount of administrative fines against non-life insurers in 2018 reached KZT 173 million
by Marina MAGNAVAL, 2019-01-18
According to the National Bank of Kazakhstan, in 2018, 18 out 20 existing insurers fell under the regulator's sanctions. 167 measurers were applied mostly in the form of administrative fines for non-life insurers in 2018 and reached a record amount of KZT 173 million.
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RUSSIA: on January 1, 2019 new amendments, expanding powers of the Bank of Russia in regards to insurance companies, came into force
by Marina MAGNAVAL, 2019-01-18
On January 1, 2019 new amendments to the Law on insurance activity came into force and they give the right to the Bank of Russia to impose a ban or restriction on certain transactions of insurance companies, as ASN wrote.
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RUSSIA: according to Expert RA, life GWP in 2019 may decrease by 20% and non-life sector will keep stagnating
by Marina MAGNAVAL, 2019-01-18
Expert RA believes that uncertainty on the life market is extremely high and its GWP in 2019 may drop to the level of 2017, according to the agency's preliminary forecast for 2019.
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RUSSIA: Dmitry GRISHANKOV steps down from the presidency of Expert RA, the Russian rating services market's leader
by Marina MAGNAVAL, 2019-01-18
Dmitry GRISHANKOV, who has been the president of Expert RA, left his post by agreement of the parties on December 30, 2018. However, he remains a shareholder and a member of the board of directors of the agency, as the rating agency reported.
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MARKETS&TRENDS
WEF's global Top 5 most concerning trends 2019: changing climate, cyber dependency and increasing social disparities and national sentiment

Rising geopolitical and geo-economic tensions are the most urgent risk in 2019, while environmental degradation is the long-term risk that defines our age, with four of the top five most impactful global risks in 2019 related to climate. Rapidly evolving cyber and technological threats are the most significant potential blind spots; we still do not fully appreciate the vulnerability of networked societies. These are some of the main conclusions of the World Economic Forum's Global Risks Report 2019.
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VIG


VIG


JLT
VIG

On the move
ALLIANZ announced three executives appointments
by Andrei Victor, 2019-01-18
German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.
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Guy Carpenter announces new division and senior appointments designed to deliver enhanced client value
by Daniela GHETU, 2019-01-18
Guy Carpenter & Company, LLC, a wholly owned subsidiary of Marsh & McLennan Companies, announced the formation of a new Global Capital Solutions Group and a series of new leadership appointments related to the Jardine Lloyd Thompson Group plc (JLT) acquisition.
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MMC names new MERCER CEO and MMC Vice Chairman
by Andrei Victor, 2019-01-18
Marsh & McLennan Companies (MMC) announced key leadership changes appointing new MERCER CEO and MMC Vice Chairman "to further its growth strategy".
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Lloyd's of London announced new members to the Council
by Andrei Victor, 2019-01-15
Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.
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Bozidar Ljubisavljevic to lead Marine Specialty for Howden Turkey, the Middle East & Africa
by press.release, 2019-01-15
Howden, part of Hyperion Insurance Group, announced the appointment of Bozidar LJUBISAVLJEVIC as Regional Marine Practice leader for the Howden Turkey, the Middle East and Africa region (TMEA). He will be based in Dubai.
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MS Amlin CFO John Worth to join HASTINGS Group
by Andrei Victor, 2019-01-15
Global re/insurer MS Amlin announced that its Chief Financial Officer - John WORTH will be stepping down from his role to join HASTINGS Group plc as CFO.
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Thomas MOTAMED elected to AIG BoD
by Andrei Victor, 2019-01-18
The Board of Directors of American International Group elected Thomas Firouz MOTAMED as a Director, effective immediately.
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TRUST RE

STATISTIC UPDATES
  STATISTICS: CROATIA timeline 2008 - 2017
  STATISTICS: Macedonia, 3Q2018

ERGO
EUROINS

EVENTS
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


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


Georgian International Insurance Conference
14 March 2019, Tbilisi, Georgia
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

FIAR 2019 - International Insurance Reinsurance Forum
19 - 22 May 2019
Sinaia, 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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