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INSURANCE CHALLENGES IN CEE

Sinisa Lovrincevic, M.Sc.Head of Business Development Regional Director & Senior Underwriter - Treaty

VI Tashkent International Investment Financial Forum24th - 28th April, 2013

Tashkent, Republic of Uzbekistan

Macro Aspect / How Sensitive is Insurance & Reinsurance Business ?

• Complex, uncertain & vulnerable environment / financial, economic, social, political, demographic, climate

• EU / EURO zone / new members

• Legislation and regulatory changes / Solvency II, IFRS

• System of supervision / synchronization of standards

• Sovereign ratings / company ratings / confidence

• Risk concentrations & interconnections / megacities, population, value, lines of business

• Emerging risks / Systemic risks

• Nat Cat Exposure / frequency & severity

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Micro Aspect / Proactive Response is needed• Allocation of the capital

• Adequate reinsurance protection

• Prudent pricing / models & tools / uwr experience

• Competitive advantage / “what if” scenarios

• Claims settlement / ability to pay the future losses

• Clear understanding & identification of risks / to meet the client’s requirements

• Quality & transparency of information & data / quantitative & qualitative assessment

• Profitability / short & long tail business© Copyright 2013 TRUST RE All rights reserved. No part of this presentation in all its property may be used or reproduced in any form or by any means without a written permission

Challenges and Opportunities / Mitigation with the Risks is priority

• Insurance & Reinsurance / people business / trust & promise • Brand name / healthy competition with security• Value creation / stakeholders• Stability / sustainable growth• Control of the risks / efficient risks management & leadership• Underwriting discipline / risk appetite & tolerance & limit• Active People Engagement / communication, motivation &

education• Product and service innovation / new technologies and risks • Privatization / mergers & acquisitions

© Copyright 2013 TRUST RE All rights reserved. No part of this presentation in all its property may be used or reproduced in any form or by any means without a written permission

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