Interviews
Dmitry GARMASH, Head of Moscow Representative office, BARENTS Re
At the traditional Baden-Baden XPRIMM Reception Event, Dmitry GARMASH, Head of Moscow Representative Office of BARENTS Re, Inc. related for www.xprimm.com the main features of the BARENTS Re strategy for the forthcoming period and the main advantages offered to business partners. This year, BARENTS Re supported the 6th Edition of XPRIMM's Baden -Baden Reception as an Official Partner.
30 October 2014Klime POPOSKI, PhD, President of the Council of Expert Insurance Supervisory Agency, Macedonia
We expect 2014 to end with a GWP growth, i.e. we expect the growth seen in the first half of the year to continue until the end of the year. The life insurance segment will keep up its dynamic two-digit growth, but also the non-life insurance segment is expected to maintain its positive growth by the end of the year, with a slower growth rate compared to the growth achieved in the first half of 2014.
16 October 2014Ismet GUNGOR, Manager of TCIP, (Turkish Natural Catastrophe Insurance Pool)
The Turkish Natural Catastrophe Insurance Pool (DASK) has become one the
most renowned insurance brands on the Turkish market. High brand
recognition and increasing earthquake insurance awareness in society
gives leverage to take up rate in earthquake insurance.
16 October 2014Andre D. EISELE - Market Head Mediterranean Director Europe Middle East &Africa, SWISS Re
Profitability is, for us, the biggest hurdle on the Turkish market. It
is hard to find, at the moment lines of business with "big pockets of
profitability". Most of the premiums come from motor insurance, which,
again, is common for the emerging markets, but it is also a loss
producing line of business.
16 October 2014Jurgen BRUCKER - Client Manager Turkey and Turkic States, Munich Re
Turkey has played an important role in Munich Re's priorities for many
years now and is already the sixth-placed country in our portfolio in
terms of the capacity we provide for natural disasters. It is also a
growing market, both on the primary insurance side, and on the
reinsurance side, which indicates its great potential.
16 October 2014Alexander ZALETOV, President, Ukraine League of Insurance Organizations
The system of voluntary health insurance, as an addition to the state
system of social guarantees, would be a reliable economic mechanism
directed to reducing budget expenses, because the voluntary health
insurance is one of the financing sources of the health system.
2 October 2014Lasha NIKOLADZE, Head of the Insurance State Supervision Service of Georgia
The compulsory MTPL insurance, that will be introduced in Georgia in 2015, helps to protect the population and prepares the Georgian legislation on insurance to get closer to the relevant EU legislation.
18 September 2014Nexhat MIFTARI, Director of Insurance Supervision Department, Central Bank of the Republic of Kosovo
The most challenging issues for the insurers, during the whole of 2014, are considered to be the legal issues. Regarding this matter, the CBK is in the process of reviewing the insurance regulatory framework, where as part of it the General Insurance Law was recently drafted and submitted to the Kosovo Assembly for approval.
18 September 2014Mateja LAMOVSEK, Insurance Analyst, Slovenian Insurance Association 10 July 2014
In 2013 the market growth was negative for the first time in the last two decades. It was the first time since 2008 that premiums have fallen under EUR 2 billion. This is the result of the crisis in the Slovenian economy, which has been already lasting for the last five years.
10 July 2014Enkeleda SHEHI, Chairperson, Albanian FSA 10 July 2014
The insurance business in 2014 will depend on the stability of prices in the MTPL portfolio. If the current prices will be maintained, the market will experience a considerable growth by the end of 2014.
10 July 2014Manuel BAUER, Member of the Management Board, ALLIANZ SE
The business of insurance companies is a long-term business. We work with forecasts and rely on assumptions that might or might not become true in the future. To help us make sound business decisions a stable political and regulatory environment is essential. People buy P&C insurance today to prevent a potential loss in the future. The business of life insurance is a business where one makes a decision today that will pay off only in 20 or 30 years.
26 June 2014Julia CILLIKOVA, Director of the Regulation and Financial Analysis Department of the National Bank of Slovakia
The solvency of insurance companies slightly decreased in 2013. The main reason for this decrease could be found in the value depreciation of the long term securities, which affected the asset portfolios of insurance companies. The period of low interest rates has continued on the financial markets and it could have a significant impact on the insurance companies as they guarantee the minimal yields in the classical life policies.
26 June 2014Namik KHALILOV, Head of State Insurance Supervision Service, Ministry of Finance
There is a fresh trend in the market, with voluntary insurance becoming the main growth driver. Thus we expect a 10 - 15% increase of the market this year, with a high dynamic on the life insurance segment for which the market trends indicate high rates of public interest.
19 June 2014Klime POPOSKI, PhD, President of the Council of Expert Insurance Supervisory Agency, Macedonia 12 June 2014
This year, for the first time we are expecting that the insurance companies will offer voluntary health insurance. It has a great development potential on the insurance market, much to the satisfaction of the citizens, and the insurance companies as well.
12 June 2014Samir OMERHODZIC, Director, Insurance Agency of Bosnia and Herzegovina
The first quarter of 2014 shows that the insurance sector begun to register positive results. It is the highest growth in the last 5 years and hopefully it shall continue till the end of the year.
12 June 2014Benjamin JOSAR, Member of the Management Board, TRIGLAV Group
My belief is that the markets where the TRIGLAV Group is present are
among the most promising in terms of the future development of the
insurance premium. Because of the extreme growth potential, the
profitability of these markets is more challenging since market
participants expect substantial growth in the future and their business
models have been adjusted to include these expectations.
22 May 2014
Jeroen MORRENHOF, CEO, FRISS
Leetha SPYROPOULOU, International Sales Manager, FRISS
Within Europe one out of every ten claims is fraudulent. In certain regions, such as CEE including SEE and CIS, this threat is at least three times the European average. So what does this mean for the insurance companies? In a word: loss.
14 May 2014Ivan PODSTUPKA, Policy Advisor of Communications & PR, SLASPO
The persisting low rates of interest exert a risk worth mentioning. The commercial insurance companies will enter the market with annuities from 2nd pillar of pension fund in 2015, but the insurance companies are already getting ready for it this year.
8 May 2014Luciano CIRINA, CEO of GPH, the Italian GENERALI group's holding company for the CEE region
Twenty years ago you could read in many economic researches that the CEE markets will align very fast to Western Europe. But we are aware that the potential is proven when bearing in mind that premiums per capita reached in Central and Eastern Europe just USD 223 compared to USD 2,716 in Western Europe. We as GENERALI do not enter markets squeezing them out but developing our business in line with the needs of the local consumers and economies. And this for sure will take some time.
8 May 2014Tomas SIKORA, Executiv Director, Czech Insurance Association (CAP)
Although the insurance market at the end of 2013 did not produce negative figures, we don't expect it to react to the incipient economic recovery this year. General forecasts for 2014 suggest a slight recovery of the economy and a slight increase in the wage bill sector, but we do not expect a radical change in the purchasing behavior of individuals and firms. Full recovery of the insurance market can be most probably anticipated in 2015.
24 April 2014
