Welcome to our fourth and final issue of EMEA Quarterly for 2018. In this edition we have much for you to unwrap as the year draws to a close and plans take shape for next year. The first article of newsletter focuses on the changes and emerging opportunities in the Central and Eastern European (CEE) markets, as detailed by Wojciech Ksiazkiewicz, General Manager of RGA CEE, in his article, Evolution and Revolution: Changing Perceptions of Life Insurance in the CEE.

While the implementation of Solvency ll has justifiably earned a lot of attention in the last few years, there are still new implications to be understood and utilized. In the second article Alexandra Field, Business Development Manager for EMEA Global Financial Solutions, examines how the treatment of taxes affects results in The Substantial Impact of Taxes Under Solvency II: Can Reinsurance Help?

As our industry evolves, we have ever more sophisticated tools at our disposal. Even the most precise tool, however, is subject to bias and overly optimistic presuppositions that negate their accuracy and value. In Predictive Analytics in Life Insurance: How to Get Real Results, Rosmery Cruz, Data Scientist for RGA Global Research and Data Analytics, describes how to avoid the pitfalls of overfitting data and creating faulty models.

Innovation is the engine driving our industry forward, but it is not a smooth process. For some, however, the fear of failure can be as fatal as failure itself. In Moving Your Giant Toward Utopia, Emmanuel Djengue, Commercial Director for RGAX in EMEA, promotes embracing the digital transformation of insurance in our markets.

In a similar vein, Jared Godwin, Business Development Actuary, shares how RGA’s South Africa office took advantage of the recent Actuarial Society of South Africa annual conference to survey actuaries first-hand on where they see the biggest innovations occurring in the next three years. The sometimes surprising, but always interesting, results are featured in Innovation – Through the Eyes of Actuaries

It is not just technology that is changing our business, of course. Social customs and laws are in flux as well, and we must adapt. As an example, South Africa’s top court has ruled that private use of cannabis is now legal. Neil Parkin, Chief Pricing Actuary, and Anya Kuys, Research & Development Actuary, both from RGA’s South Africa office describe the five key risk considerations of this for underwriters in High Five: Changing Approaches to Marijuana in South Africa.

The emergence of a protection market in the Middle East is another positive development in our world, and Tamer Saher, Director of Business Development for RGA’s Middle East office continues his excellent series on this region with Middle East Update: Understanding Takaful.

We extend our warmest greetings of the season and wish you the happiest of holidays and a successful and prosperous New Year. It has been an honor and a pleasure to work with you in the past year, and we look forward to seeing you in 2019.

Olav Cuiper

Executive Vice President, Head of EMEA
RGA International Reinsurance Company dac

December 2018