XPRIMM News
Insurance Newsletter, No. 435, 25 January, 2019

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES
TOP NEWS
STATISTICS: SLOVAKIA, 3Q2018: insurers' profits decreased to EUR 120 million
by Andrei Victor, 2019-01-25
In the first three quarters of 2018, the Slovak insurance market totaled EUR 1.67 billion, thus increasing by 3.82% y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).
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POLAND, 3Q2018: Bancassurance arrangements provided for 12.6% of the market GWP
by Daniela GHETU, 2019-01-25
The Polish bancassurance distribution channel provided for 12.6% of the total premium production of the local market in 3Q2018, i.e. for a GWP volume of PLN 5.8 billion.
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CROATIA osiguranje gives up acquisition agreements in Bosnia & Herzegovina
by Daniela GHETU, 2019-01-25
CROATIA osiguranje (CO) has announced on 23 January that both agreements concluded in June last year, to acquire through its Bosnian subsidiary the full ownership of the Bosnian Testing Center LLC and the CENTRAL INSURANCE company, are canceled.
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ERGO's Croatian subsidiaries change of ownership got the official approval
by Daniela GHETU, 2019-01-25
SAVA Re was granted the Croatian Financial Services Supervisory Agency's approval for the direct acquisition of the control ownership package (over 50%) of the Croatian subsidiaries of ERGO, namely ERGO Insurance and ERGO Life Insurance, both domiciled in Zagreb.
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EIG's second attempt to acquire Credit Agricole Life rejected by the Greek Central Bank
by Daniela GHETU, 2019-01-25
The Greek central bank's Credit and Insurance Committee announced it has banned the proposed acquisition of a 100% stake in Credit Agricole Life by the Bulgarian Euroins Insurance Group (EIG).
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AXA XL completes transfer of XL Insurance Company SE to Dublin
by Andrei Victor, 2019-01-22
AXA XL announced that it has completed the transfer of its EU insurer - XL Insurance Company SE, from the UK to Dublin, Ireland.
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GENERALI successfully placed a subordinated bond for EUR 500 million
by Daniela GHETU, 2019-01-22
Generali has launched on 21 January a subordinated bond with a 10 years bullet format targeting institutional investors for an overall amount of EUR 500 million. At the initial yield guidance of 4.625%, the issuance attracted around 450 orders for more than EUR 6.5 billion, more than 13 times the target size.
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AON, 2018: insured cat losses at USD 90 billion, economic costs at USD 225 billion
by Andrei Victor, 2019-01-23
Re/insurance broker Aon has estimated that the re/insurance industry will incur USD 90 billion of catastrophe losses in 2018, or around 40% of the total USD 225 billion economic cost, according to Weather, Climate & Catastrophe Insight: 2018 Annual Report.
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AGCS opens new reinsurance branch in India
by Andrei Victor, 2019-01-22
Corporate insurer Allianz Global Corporate & Specialty SE (AGCS) targets growth in Asia with new India reinsurance branch.
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UZBEKISTAN: S&P assigned 'BB-' long-term and 'B' short-term ratings to Uzbekistan, outlook stable
by Marina MAGNAVAL, 2019-01-22
On December 21, 2018 S&P Global Ratings assigned its 'BB-/B' long-term and short-term foreign and local currency sovereign credit ratings to Uzbekistan. The outlook is stable, as the agency informed.
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ARMENIA: in 2018 MTPL GWP increased by about 5.5% y-o-y, while its loss ratio reached 72.5%
by Marina MAGNAVAL, 2019-01-23
MTPL loss ratio in Armenia in 2018 increased from 65% to 72.5%, based on the data of the Armenian Bureau of Motor insurers.
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BELARUS: FITCH confirmed sovereign credit rating of Belarus at 'B' level, outlook stable
by Marina MAGNAVAL, 2019-01-23
International rating agency FITCH Ratings on January 18, 2019 confirmed tong-term and short-term sovereign credit ratings of Belarus for obligations in foreign and national currency at 'B' level, outlook stable.
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KAZAKHSTAN: Unit-Linked may become a new market driver
by Marina MAGNAVAL, 2019-01-25
Staring January 1, 2019 Kazakh life insurers may offer Unit-Linked products, charging an insurance fee that will depend on the investment results. Also this year insurance companies may get an investment broker license, as explained the Deputy chairman of the board of Nomad Life, Askar SHAKENOV.
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KYRGYZSTAN: law on compulsory MTPL insurance will come into force on February 7, 2019
by Marina MAGNAVAL, 2019-01-25
On February 7, 2019 the law on compulsory MTPL insurance will come into force in Kyrgyzstan, as the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic informed.
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RUSSIA: in 2018 livestock insurance GWP went up by 33% y-o-y
by Marina MAGNAVAL, 2019-01-25
Preliminary data of the National Association of Agriculture Insurers (NAAI) for 2018 show that GWP in livestock insurance increased by 33% y-o-y to RUB 866 million, as ASN wrote.
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RUSSIA: FITCH removed VSK from the Rating Watch Negative
by Marina MAGNAVAL, 2019-01-25
The international rating agency FITCH removed the financial stability rating of VSK from the list of Rating Watch Negative (RWN), where it was placed in July 2018, as well as confirmed the company's rating at BB-, outlook negative, as reported by ASN.
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UKRAINE: insurance of individuals in 3Q2018 increased by more than 20% y-o-y
by Marina MAGNAVAL, 2019-01-25
Personal insurance lines in Ukraine are showing a rapid growth. In 3Q2018 GWP from individuals amounted to UAH 13.39 billion (+20.5% y-o-y), as Forinsurer wrote.
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TURKMENISTAN: new acting general director of the State insurance organization appointed
by Marina MAGNAVAL, 2019-01-23
The deputy general director of Turkmengosstrakh - Dovletmyrat GULMYRADOV was appointed as the acting General Director of this single insurance organization, as the State information agency of Turkmenistan announced on January 21 with reference to an official decree of the President of the country.
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On the move
Shareholders of Italian Net Insurance have designated the company's new management team. Matteo CARBONE heads the Innovation Advisory Board
by Daniela GHETU, 2019-01-25
The Italian Net Insurance company's newly elected Board of Directors nominated Luisa TODINI as President and Andrea BATTISTA, Chief Executive Officer. The Innovation Advisory Board, which plays a key role in the company's fundamental journey in the world of InsurTech will be guided by Matteo CARBONE.
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AZERBAIJAN: Azer ALIYEV re-heads Azerbaijan Insurers Association
by Marina MAGNAVAL, 2019-01-23
Azer ALIYEV has been appointed the new chairman of the Azerbaijan Insurers Association (ASA). Association's ex-chair Mustafa ABBASBEYLIi has been assigned advisor to Labor & Social Protection Minister Sahil BABAYEV, as analytical and news agency FINEKO and ABC.AZ wrote.
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RUSSIA: Ekaterina TROFIMOVA released from the position of the General Director of ACRA
by Marina MAGNAVAL, 2019-01-25
On January 17, 2019 the ACRA Board of directors, based on the statement of Ekaterina TROFIMOVA, decided to release her from the position of the General Director of the agency, as ACRA announced.
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AZERBAIJAN: changes in the board of the only reinsurance company - AzRe
by Marina MAGNAVAL, 2019-01-25
On January 3, 2019 Fuad KULIEV was appointed as the chairman of the board of directors of the reinsurance company AzRe, according to the company.
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Swiss Re appoints Archie KANE as non-executive Chairman at ReAssure
by Daniela GHETU, 2019-01-22
Swiss Re announced it appointed Archie KANE as the new non-executive Chairman of the Board of Directors of its UK-based closed book business ReAssure effective immediately.
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TOP EVENT

VIG

In 2019, Vienna is once again hosting two of XPRIMM's well-known spring events
by Adina TUDOR, 2019-01-25
The Motor Insurance Conference and the Property Insurance Forum, two of XPRIMM's well know specialized events, taking place under the International Insurance Forum brand, will be hosted, once again, by the capital city of Austria.
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VIG


INTERVIEW

VIGIrina MERZLYAKOVA General Director Belarusian Association of Insurers
by Marina MAGNAVAL, 2019-01-25
All major plans and expectations of Belarusian insurers are focused on the adoption of new legislation in insurance, which has been under review and consideration by the government for two years. It may safely be said that in 2019 it will finally be signed.

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VIG

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia
by Daniela GHETU, 2019-01-25
Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.
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JLT
VIG

MARKETS&TRENDS
Swiss Re: personal cyber insurance market will reach up USD 3.1 billion by 2025, if insurers' offer will meet customers' needs and preferences
by Daniela GHETU, 2019-01-22
Technology has become so ubiquitous, it is hard to live without it. It comes with huge advantages, but also risks - and there is an increasing role for insurers to play in protecting customers in the face of cyber threats, reads the latest Swiss Re white paper on cyber risks.
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TRUST RE

STATISTIC UPDATES
  STATISTICS: SLOVAKIA, 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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