Only one week
We remind you that only one week remains for registration at the 10th
Edition of FIAR - International Insurance and Reinsurance Forum from
So, 28th of April 2007 is the last day when you can confirm your participation
to FIAR , the most important spring event B2B for the insurance markets
from Central and East Europe.
Over 200 participants from Austria ,Belarus Belgium, Bulgaria, Canada,
Czech Republic, Cyprus, Denmark, Switzerland, France, Georgia, Germany,
Greece, India, Ireland, Italy, Kazakhstan, Lebanon, Great Britain, Poland,
Moldova Republic, Romania, Russian, Slovakia, Slovenia, Spain, United
States, Sweden and Ukraine will be present at the anniversary edition
here for details
here to see the participants' list
here to register
by email@example.com, 19.04.2007
BCR Asigurari launches a policy for commercial credits
BCR Asigurari launches a new product exclusively for the commercial companies
called "the insurance of commercial credits given to legal persons
by commercial companies".
The new product is for legal persons and covers the financial losses
caused by the no cash in of the invoices' counter value from the clients
on contractual term because of insolvency or payment incapacity of debtors
BCR Asigurari offers an insurance product very efficient in the creation
of the development strategy of any commercial company, with its headquarters
or residence in Romania, which wants to have a rigorous control over
incomes from merchandises delivery or services providing. The advantages
of this kind of insurance (improvement of the cash flow, the increase
of the insured company's business volume), sustained by an entire analyze
process and management, offers the fundamental of a healthy business.
"The insurance of commercial credits given to legal persons by commercial companies" comes
to support the producers, the importers, the distributors and the providers who
give commercial credits (invoices with fixed term payment) as a practical and
easy modality of the business and company's assets protection, of improvement
of cash-flow and of increase of the insured company's liquidity degree. Supporting
the financial solvency of the insured, this product gives the possibility to
increase the insured company's business volume, to increase the market share
and to improve the competitive position, to have financial flexible relations
with clients and to disperse the finance sources.
The real insurance's cost (the amount of the insurance premium) is established
according to the level of the figure business on credit of the insured
and to the debtor clients' dispersion degree (a higher dispersion degree
is got if there are many debtor clients). Thus, a small premium quota
can get the insured companies with high business figure and dispersion
degree (usually corporations) and a higher premium quota have companies
with small business figure.
by firstname.lastname@example.org, 5.04.2007
Health Insurances, debated
Waited by the profile market for more than 2 years, the Methodology Norms
regarding facultative health insurances have been finally approved
by the Public Health Ministry
The lack of a adequate legislative framework, especially the lack of
the application norms, has represented an obstacle in the development
of the facultative health insurances' system.
Though the content of the normative act was elaborated together with
the representatives of the profile companies, the final form of it is
different from the agreed form at negotiations, according to market's
Despite the legislation's lack, health insurances knew in 2006 the most
accelerated enhance of the market , its gross written premiums growing
All these issues were discussed at the CNS - National Health insurance
Conference, coordinated by XPRIMM Publications and which took place today,
19th of April at the Parliament Palace with the support of Insurance
Supervisory Commission, National Association of Insurance and Reinsurance
Companies from Romania and National Union of Insurance Brokerage and
Consultancy Societies from Romania.
by email@example.com, 18.04.2007
A EUR 11 million profit for ALLIANZ-TIRIAC
Last year, ALLIANZ-TIRIAC grew the income from its insurance activity
with more than 30%. Thus, the company kept its leading position on
the Romanian insurance market, with a market share of about 20%.
Also, it has confirmed the fact that it is one of the most profitable
local insurance companies. On the general insurances segment, ALLIANZ-TIRIAC
got a EUR 11 million operational profit.
The amount of gross premiums underwritten by ALLIANZ on the general insurance
segment increased with 6.5%, from EUR 1.77 billion in 2005 to EUR 1.89
billion in 2006. Romania had the higher increase rate at this insurance
class. The amount of gross premiums enhanced with almost 33%, from EUR
220 million to EUR 292 million.
The improvement of the sales' efficiency and the continuous development
of the insurance portfolio for legal persons have principally contributed
to this evolution.
"This region will continue to be one of the increase engines. Taking into consideration
the existed potential, we expect to increase rates of the incomes from premiums
formed from two figures", Werner ZEDELIUS, member in the Board Meeting of ALLIANZ,
responsible for the development of the group's activity on the growing markets
comments referring to the evolution of ALLIANZ in the Central and East Europe.
Not only, had we kept our excellent position in the Central and East
Europe, but we have succeeded in having a constant evolution", the quoted
official declared. The ALLIANZ Group has been present in Central and
East Europe since 1989, and in ex Soviet Union since 1990, operating
on the 8 most important markets in the region. In each of these countries,
the member company of ALLIANZ active in that country is in Top 5 best
With a market share of around 12% in 2005, ALLIANZ is the leader of the
international insurers in Central and East Europe and occupies the second
place among the insurance companies in the region.
by firstname.lastname@example.org, 5.04.2007
10 years in Romania for GRAS SAVOYE
On 10th of April 2007, the insurance broker GRAS SAVOYE Romania celebrated
its 10 years of activity in Romania. 2007 is an important year both
for the Romanian branch and for GRAS SAVOYE, which celebrates this
year 100 years since its establishment in 1907.
Patrick LUCAS, the President of GRAS SAVOYE participated at this important
anniversary event beside the Romanian team formed by 16 persons and managed
by Laurent CHARLIER. Patrick LUCAS has been working for this company
for over 20 years. In 1979 he was appointed President and CEO and in
1991 he became Managing Partner.
He was nominated Honorary President of the French Federation of Insurance
and Reinsurance Brokers in 1997, President of the Forum for Towns' Administration
in 1986, member of the management of the Reinsurance Central House and
President of the French patronage Medef International for Africa, Pacific,
Caribbean in 1989.
Outside borders, GRAS SAVOYE has a branch network in 30 counties of Europe,
Africa, Middle East and Extreme Orient.
In 2006, the company mediated a EUR 11.64 million premiums (RON 41.03
million), the real increase in national currency being 51.89%.
According to the Insurance Profile Review, GRAS SAVOYE Romania is the
leader on the mediated premiums from goods polices. Its share market
on this segment is 35% meaning EUR 4.5 million. The weight of this type
of insurance in the company's portfolio represents over 40%, business
figure in 2006 exceeding EUR 1.1 million.
by email@example.com, 11.04.2007
Gross profit of EUR 4.2 million for ASIROM in 2006
In 2006, ASIROM posted a EUR 4.2 million income and gross written premiums
worth EUR 26.11 million for life insurance and EUR 153.4 million for
ASIROM has finally managed to become profitable after two years of loss
in a row. In 2004 and 2005, the company posted a total loss of EUR 17.7
The insurer held, at the end of 2006, the second place in the local market
on the underwritings volume basis and had a 10 per cent market share,
according to Insurance PROFILE Review.
As the company's officials stated, ASIROM recorded the most important
growth, of 35%, for fire and natural catastrophe insurance and 18.5%
for agricultural insurance.
The gross claims the insurer paid to its clients last year amounted to
EUR 119.4 million.
"The society's management constant concern was maintaining the financial balance
of ASIROM, as the company it is now profitable and the financial indicators are
above the limits set by the Insurance Supervisory Commission", Boris SCHNEIDER,
General Manager of ASIROM has declared.
"For this year we aim for a 15 per cent growth of the automotive insurance segment",
by firstname.lastname@example.org, 18.04.2007
A new Life Insurance Manager for ASTRA-UNIQA
Considering the importance of life insurance in ASTRA-UNIQA development
strategy, Diana MITROI joined the management team starting the 16th
of April as Life Insurance Manager.
Diana MITROI has been working in the insurance field since 2001 as Life
Insurance Consultant within ING Life.
Before she was Office Manager for INTERAMERICAN Romania, then Deputy
Manager Pension Office within OMNIASIG Asigurari de Viata.
The new Life Insurance Manager brings also the reinsurance broker experience
Diana MITROI graduated the 'International Relations and European Integration
Faculty' and has two master degrees in Public Politics and Financial
Last year, ASTRA-UNIQA posted gross written premiums of EUR 86.6 million,
more 81.1 per cent than in 2005.
For 2007, the insurer aims gross written premiums earnings of EUR 140
million, rising 63% from the last years' figures, as well as growing
the profitability and the portfolio and carrying on the territorial expansion.
by email@example.com, 17.04.2007
ASITRANS is proposing a claims reduction solution
Insurer ASITRANS has recently proposed a solution for decreasing the
claims rate by setting up a investigation company in which the companies
in the market should be interested parts.
"We have advanced a business plan to the main insurance societies' General Managers
in order to found an investigation company in which they could be interested
parts. They embraced the idea and the effective implication in the project is
now needed", Bogdan STAN, CEO of ASITRANS Group has stated exclusively for XPRIMM
"I would stress the fact that UNSICAR proved a remarkable professional attitude
as for a intermediary company to be a member of this professional organization
grants the insurers of its earnestness", the quoted official added.
Setting up a strong community through an active contribution to finalizing
a common data base which could grow the efficiency of the risk assessment
and also through introducing elements to rise the level of responsibility
for clients, has been one of the claims rate reducing solutions proposed
within The National Motor Insurance Conference, organized by Media XPRIMM
by firstname.lastname@example.org, 16.04.2007
PORSCHE Finance Group - No. 1 on the motor financing market
With a business figure of LEI 206.5 million, rising by 38% and a net
profit of LEI 33.3 million, with 52% more than in 2005, the PORSCHE
Finance Group has succeeded in the previous year to consolidate it's
position on the motor financing market.
Based on the "one stop shop" concept, the PORSCHE Finance Group
financed in 2006 almost 20.000 vehicles (19,759), which can be translated
into a growth of 24% in comparison to 2005. At the same time, the number
of the contracts under the groups management has risen to over 45,000.
"Our results for 2006 are excellent and actually exceed our expectations,
due to the sustained retail activity in all of the group's components: PORSCHE
Bank, PORSCHE Leasing, PORSCHE Broker de Asigurare and PORSCHE Mobility. This
way we succeeded in financing about 1 of 2 cars imported by PORSCHE Romania and
insuring about all of these cars thru our specialized company", Peter DEMMER,
the CEO of PORSCHE Finance Group has declared.
"As far as 2007, we are intending to achieve a profitable growth on all
the business fields and, at the same time, controll our expenses and invest in
factors which lead to growth", Peter DEMMER has added.
The net profit registered by PORSCHE Broker de Asigurare in 2006 rose
to LEI 5.9 million, while the turnover has reached LEI 18.3 million,
with 37% more than in 2005. Also, in the previous year, PORSCHE Broker
de Asigurare has registered over 20,000 motor hull policies and 18,000
by email@example.com, 18.04. 2007
GENERALI underwrote RON 296 million in 2006
In 2006, GENERALI Asigurari underwrote an amount of RON 296 million gross
premiums, the increase in national currency being 129% comparing to
The 2006's results highlight the upward trend of the insurance company,
with a growth rhythm which position it in the Top 10 of the insurance
companies in Romania, according to the Insurance Profile Review.
This growth was determined both by the activity on the general insurances
segment, on which the gross premiums registered RON 255 million (135%
more than in 2005) and by the activity on the life insurance segment
on which gross premiums amounted RON 41 million, up with 97% than in
All the insurance classes increased, but especially the liability insurances,
perils, motor hull and individual life insurances.
In order to obtain such results, the company used all the sale channels
, Central Division, Bucharest Branch , the 76 units and the brokers.
The number of insurance agents grew along the last year from 1,552 to
2006 brought a series of new products in the company's portfolio: GENERALI
Investment Unit Solution - a life insurance with investment component,
Green Card and Asist Plus Extra, road assistance service.
Also, in the previous year GENERALI concluded a partnership with ING
BANK for the distribution of households insurances and motor hull and,
not last, must be mentioned the increase of the social capital from RON
30 million to RON 50 million.
by firstname.lastname@example.org, 11.04. 2007
USD 9 million profit for AIG Life
In the previous year, the company underwrote almost RON 140 million (almost
USD 53 million), up with over 33% in RON and 40% in USD comparing to
In the same time the insurer's assets grew 45% to RON 310.7 million (USD
The gross profit reached RON 24 million (USD 9 million), 68%more than
These financial results are based on the increase number of new sales
both as number of clients and as average premium per client , on the
diversity of the distribution with accent on direct and alternative one
and on the high retention degree of the existed portfolio.
"The active management of the investment portfolio and the rigorous control of
expenses made AIG Life one of the most profitable life insurance companies on
the Romanian insurance market", the representatives of the company declared.
AIG Life is an active participant at the pensions' reform supporting
the development of the private pension scheme.
'We want to involve ourselves in founding the new market and we will
create long-term investment products which to offer supplementary income
at retirement and new insurance products which to offer a supplementary
benefit in case of illness, completed with medical benefits and services",
the officials of AIG added.
AIG Life Romania was established in 1998 and its majority shareholder
is American life Insurance Company (ALICO). ALICO, one of the most important
international life insurance companies in the world is owned by American
International Group. Other 2 AIG companies operate in Romania: AIG Romania
- general insurances company and an investment fond -AIG New Europe Fund.
by email@example.com, 13.04. 2007