XPRIMM News
Insurance Newsletter, No. 451, 16 May, 2019

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TOP NEWS - CURRENT REPORTS - STATISTIC UPDATES

TOP NEWS
PZU Group, 1Q2019: The best first quarter results obtained by the Group
by Cosmin CONCEATU, 2019-05-14
In the first quarter of 2019, PZU broke its own record at the start of the year, generating higher GWP volumes and higher net result, compared to the same period of 2018. Company's officials said it was the merit of the newly introduced strategy, for 2017-2020 period.
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POLAND: 2.6 million Poles chose private health insurance in 2018
by Cosmin CONCEATU, 2019-05-15
By the end of 2018, there were 2.6 million Poles, who purchased private health insurance, a number exceeding 2.5 million for the first time in history, Polish Insurance Association (PIU) reports.
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STATISTICS: Montenegrin insurers' Q1 business rise 20% y-o-y
by Andrei Victor, 2019-05-16
The GWP by the Montenegrin insurers totalled EUR 22.1 million in the first three months of 2019, up 20.2% on the year, the Insurance Supervision Agency of Montenegro informed.
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STATISTICS: Kosovo insurers' Q1 net profit decreased by75% EUR 100 thousand
by Andrei Victor, 2019-05-16
The net profit of Kosovo insurers decreased to EUR 100,000 at the end of March 2019, from EUR 400,000 a year earlier, as the figures published by CBK showed.
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The Sava Re Group has a new umbrella brand
by Daniela GHETU, 2019-05-16
The umbrella brand Sava Re Group will be replaced in all corporate documents by Zavarovalna skupina Sava in Slovenian and Sava Insurance Group in English, starting with the 1Q financial report for 2019, the Group has announced.
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Sava Insurance Group, 1Q 2019: profit increase due to lower claims expenses and improved cost efficiency
by Daniela GHETU, 2019-05-16
The Sava Insurance Group delivered a net profit of EUR 10.9 million in 1Q2019, accounting for 25.4% of the 2019 planned profit. The annualized RoE was 12.2%. A benign claims development and improved cost efficiency were the main drivers of the profit increase.
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ESTONIA: Jan-March: growth of motor insurance prices is slowing down
by Marina MAGNAVAL, 2019-05-16
According to the statistical data of the Estonian Motor Insurance Fund (LKF), growth of motor insurance prices is slowing down, which is confirmed by their increase only by 1% in the 1st quarter of 2019 y-o-y, as the Fund informed on its official website on May 15.
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CROATIA: HANFA establishes regulatory Innovation Hub
by Cosmin CONCEATU, 2019-05-15
The Croatian Financial Services Supervisory Agency (HANFA) has established a regulatory Innovation Hub, a specialized team dedicated to the issue of regulating financial innovation - FinTech, InsurTech, RegTech.
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STATISTICS: SEE, FY 2018: downsize trend driven by the Turkish currency crisis
by Daniela GHETU, 2019-05-16
In the Southeast European (SEE) region, Turkey accounts for more 65% of the regional GWP. Thus, the over 12% market fall recorded by the local insurance market, in European currency -, triggered a negative change in the regional GWP also, despite the positive trend recorded by the insurance markets of Greece and Cyprus.
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Know Your Opponent: How is BROADSPIRE using data analysis to identify exaggerated claims
by Adina TUDOR, 2019-05-13
Can an efficient claims management strategy reduce your average claim? BROADSPIRE thinks it can. The company offers an extensive array of customized claim services, focusing on motor, property and liability insurance segments, as well as additional services dedicated to insurers and brokers.
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GENERALI Group, 1Q2019: 28% increase in the net profit, following the disposals
by Daniela GHETU, 2019-05-16
The GENERALI Group ended Q1 with a net profit of EUR 744 million, up 28.1% y-o-y, reflecting in part the result from disposals. The adjusted net profit increased to EUR 616 million (+6%) in line with the targets of the Group's new strategic plan.
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ALLIANZ, 1Q2019: Operating profit close to EUR 3.0 billion
by Cosmin CONCEATU, 2019-05-14
For the first three months of 2019, Allianz Group reported a solid growth compared to first quarter of prior year. Total revenues at group level grew by 9.1%, the operating profit increased as well, by 7.5%, while the net income stood above EUR 2 billion.
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GRAWE, FY2018: results from ordinary activities hit EUR 161 million
by Cosmin CONCEATU, 2019-05-13
In the 2018 financial year, GRAWE AG increased its total premium income by 5.0% to EUR 588 million. Premium growth in non-life and accident insurance was up 5.7%, while in life insurance GRAWE recorded a 2.6% rise.
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ZURICH, 1Q2019: P&C and Life GWP increases across all regions
by Cosmin CONCEATU, 2019-05-13
Zurich Insurance Group Ltd (Zurich) reported a 4% increase in terms of P&C GWP volume for the first quarter of 2019. In local currency, the figures show growths across all regions, keeping Zurich on track to meet and even to exceed 2017 to 2019 targets.
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STATISTICS: CIS, FY 2018: up by 2.4%, following the Russia, the regional trendsetter
by Daniela GHETU, 2019-05-16
In the Commonwealth of the Independent States - CIS, the Russian insurance market has an absolute dominating position, accounting for almost 83% of the regional GWP. Ukraine ranks second in GWP terms, at a huge distance to Russia, with an almost 7% share of the GWP, followed by Kazakhstan, with 3.9%.
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STATISTICS: KAZAKHSTAN, 1Q2019: life sector saw significant increase of almost 51%
by Marina MAGNAVAL, 2019-05-16
For the first quarter of 2019, total market GWP rose by 10.5% y-o-y reaching KZT 118.9 billion (EUR 279 million). Life GWP increased by 50.9%, to KZT 24 billion (EUR 56.4 million). Paid claims amounted to KZT 27 billion (EUR 63.5 million), 29.6% more y-o-y, according to data from the National Bank.
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KAZAKHSTAN: in March, insurance sector assets exceeded KZT 1.1 trillion (~EUR 2.58 billion)
by Marina MAGNAVAL, 2019-05-15
From January to March this year, total assets of insurers grew by 5.5% (by KZT 34.8 billion) and exceeded KZT 1.1 trillion (~EUR 2.58 billion), Allinsurance.kz reports.
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UKRAINE: annual MTPL growth from Jan-March reached almost 19%
by Marina MAGNAVAL, 2019-05-16
For the period from January to March, insurers who are members of MTIBU (Motor Transport Insurance Bureau of Ukraine) generated MTPL GWP of 18.82% more y-o-y. Total GWP amounted to UAH 1.08 billion (~EUR 35.34 million), Forinsurer informed.
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STATISTICS: UZBEKISTAN, 1Q2019: paid claims saw rapid increase of more than 117%
by Marina MAGNAVAL, 2019-05-16
From January to March 2019, Uzbek insurers collected GWP in the amount of UZS 522.8 billion (EUR 55 million), 37.22% more y-o-y in local currency. Paid claims saw a rapid increase of 117.83%, to UZS 180.16 billion (EUR 18.98 million), as data published by the Ministry of Finance of the Republic show.
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TAJIKISTAN: a new company registered on the market for voluntary insurance
by Marina MAGNAVAL, 2019-05-15
The National Bank of Tajikistan approved a voluntary insurance license for Takalluf company, based on a decision made May 7. The term of the license is 5 years, ASIA-Plus Media Group reports with reference to the press service of the National Bank.
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VIG

On the move
GENERALI appoints a new Board of Directors for three years
by Cosmin CONCEATU, 2019-05-13
On 7 May 2018, during the ordinary and extraordinary Shareholders' Meeting ("GM"), Generali chose a new Board of Directors, elected to hold office for three financial years, until approval of the financial statements for the year 2021.
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TRUST RE

VIG
Five weeks to the "Insurance in Azerbaijan" Conference start, in Baku
by Daniela GHETU, 2019-05-16
Baku will host on 28 June the 2019 edition of the "Insurance in Azerbaijan: Trends & Opportunities" Conference, an event co-organized by XPRIMM and AIA - Azerbaijan Insurers Association, with the official support of the Financial Market Supervisory Authority of Azerbaijan.
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STATISTIC UPDATES
STATISTICS: Kosovo 1Q2019
  STATISTICS: Montenegrin 1Q2019
STATISTICS: UZBEKISTAN 1Q2019
STATISTICS: KAZAKHSTAN 1Q2019
STATISTICS: CIS FY 2018
STATISTICS: SEE FY 2018

MARKETS & TRENDS
The Riskiest Routes around the World
by Adina TUDOR, 2019-05-13
To mark Global Road Safety Week, data from WHO has revealed that each day, 3,700 people die in road crashes, meaning that 1,350,000 fatalities occur every year on the world's roads. Moreover, according to data revealed by WHO, India, China and Brazil are the top 3 most dangerous places to travel by road.
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ERGO
EUROINS

EVENTS
European Consumer Protection Conference
17 May 2019
Bucharest, Romania

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

11th International Insurance Conference - Fast Forward - the future of insurance
23 May 2019
Bucharest, Romania

Global Insurance Forum
18 - 21 June 2019
Singapore


DIA AMSTERDAM 2019
25-27 June, 2019
Amsterdam, The Netherlands

Conference "Insurance in Azerbaijan: Trends & Opportunities"
28 June
Baku, Azerbaijan

OMNIASIG
MARSH

CURRENT XPRIMM REPORTS
RUSSIA FY2018
KAZAKHSTAN FY2017 & 1H2018
TURKEY FY2017 & 1H2018
ROMANIA 1H2018
Motor Ins. Report FY2017
Property Ins. Report FY2017

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