for ICAR Forum!
All the details regarding the 2007 Edition of ICAR - The International
CAtastrophic Risks Forum have already been posted on the event web-site:
ICAR 2007 is the main European catastrophic risks event. This edition
will take place at the Parliament Palace in Bucharest, Romania, between
October 1st - 2nd, 2007.
Whether we are talking about preventing and mitigating flooding risks
or other weather-related catastrophes or about the Romanian Catastrophe
Insurance Program and how the accumulated pool risks will be placed on
the international reinsurance market - ICAR 2007 will provide answers
to all these major issues which are currently affecting the market.
for more details!
by firstname.lastname@example.org, 26.06.2007
The insurance market will exceed EUR. 2.4 billion
By the end of 2007, the insurance market will grow to EUR 2.4 billion,
according to ISC estimates concerning the evolution of this sector in
As a result, the general insurance will cross the value of EUR 2 billion
(RON 6.7 billion).
ISC forecast anticipates that a major contribution to this value will
come from direct insurance, warranty insurance, property insurance, MTLP
insurance as well as from travel insurance abroad.
"On the life insurance segment, we expect a total amount of the written premiums
of EUR 400 million, an increase by 10% comparing to 2005 results, mainly due
to the health insurance segment", ISC reports.
Reporting the estimated volume of the written premiums (general and life
insurance) to the GDP expected volume for 2007 (EUR 125 billion according
to National Committee for Forecast for 2007-2013) results a penetration
rate above 2%.
In 2006, insurance market registered an increase by 23.68% compared to
2005 (17.01%), while gross written premiums from direct insurance and
reinsurance rewards accounted EUR 1,69 billion.
by email@example.com, 5.07.2007
BCR Asigurari, 104% growth in the first 5 months
In the first five months of this year, BCR Asigurari has underwritten
a total of about RON 309.68 million, with a 104% growth compared to
the similar period of 2006.
The lines of business where the most dynamic evolution was recorded are:
electronic equipments' insurance and motor insurance.
"The evolution that we have recorded in these 5 months can be explained
by a variety of financing methods for electronic equipments and industrial tools.
At the same time, another growth impulse of our business was the expansion of
the building sector", Mihai TECAU, the President of BCR Asigurari has stated.
"Simultaneously, the voluntary insurance of animals has recorded a dynamic
growth, sustained by European financing programs of the agricultural sector",
the company's official has added.
A constant growth rate, with 30% in average, has been recorded on the
Motor voluntary insurance (CASCO).
According to the Insurance PROFILE Review, at March 31 we found BCR Asigurari
in the second place on the national market, by the volume of gross written
premiums, with underwritings of RON 220.09 million, with a real growth
of 146.75%, as compared to Q1/2006.
by firstname.lastname@example.org, 10.07.2007
A 50% increase for BT Asigurari in the first five months
The volume of gross premiums underwritten by BT Asigurari reached RON 108.16
million in the first five months of 2007, more 50% compared to the results
registered in the similar period of 2006.
At the same time, the paid claims were RON 64.95 million in the analyzed
As for the products portfolio's structure and dynamics of different insurance
classes in the first five months, motor insurances registered the most
"The gross premiums' enhance on motor insurance segment was due to the important
clients with large car fleet that were attracted in its portfolio by BT Asigurari",
the representatives of the company declared for XPRIMM Newsletters.
"Motor insurance are closely followed by the property insurance, up with 93%,
as compared to the last years' similar period. The expand of the building field
and industrial investments from different parts of Romania, which determined
drawing important objectives in our portfolio are at the foreground of this evolution",
the company's officials stated.
Holding the 10th position on the Romanian market, according to Insurance
Profile Review, BT Asigurari underwrote RON 37.06 million in the first
trimester of 2007, with a real growth of 56.06% in comparison to the first
trimester of 2006.
by email@example.com, 12.07.2007
The first Top of the facultative private pension funds
According to BRD Societe Generale, the depositary bank of the facultative
private pension funds, the assets of the four facultative private pension
funds active on Pillar III reached EUR 31,500 on the 9th of July 2007.
This is the result of the first contributions month from the signing
date of the first adhesion contracts to the facultative pension funds.
In the BRD Soc-Gen top of the collected contributions the situation
is the following: ING Clasic Fund (administrated by ING Asigurari de
Viata) with EUR 13,500, followed by AZT Moderato (ALLIANZ TIRIAC Pensii
Private), Pensia mea (AVIVA) and BCR Prudent (BCR Asigurari de Viata).
As we have previously announced in XPRIMM Newsletters, another two funds
entered the market: AZT Vivace and ING Optim, which will start to sell
by firstname.lastname@example.org 13.07.2007
Capitalization of the insurance market, over RON 1.4 billion in 2006
According to the Annual Report of the Insurance Supervisory Commission,
the value of the social capital underwritten by the 41 authorized insurance
companies was slightly under RON 1.41 billion (EUR 415.85 million)
at the end of 2006, in real growth with 50.94% comparing to 2005.
From the structural point of view, within the underwritten social capital,
89.3% were cash, representing RON 1.26 million (EUR 371.34 million) and
natural capital in value of RON 150.51 million (EUR 44.51 million), meaning
10.7% of the total.
The Insurance Supervisory Commission informs over an improvement of the
social capital's structure, which increased its cash weight with 6.7%.
Also, the participation weight of the foreign investors grew from RON
435.51 million (EUR 118.44 million), in 2005, to RON 750.1 million (EUR
221.8 million), in 2006, meaning a 64.23% real enhance, being influenced
both by the authorization of a new three companies with majority foreign
shareholders: KD Life Asigurari (Slovenia), CLAL Romania (The Netherlands)
and CARDIF Asigurari (France) and by the change of the shareholders of
other four companies through the acquisition of shares.
So, taking into consideration the norms regarding the calculation of
the solvency margin, of the liquidity indicators, of the assets which
cover the technical reserves and, not at last, the technical reserves,
applied from the 1st of January 2007, the Insurance Supervisory Commission
estimates that the management of insurers will continue in 2007 to take
all the measures needed for the increase of social capital, restructure
of the portfolio and mergers or portfolios' transfers.
by email@example.com, 10.07.2007
BCR Asigurari launches claims and development strategies centre
BCR Asigurari is writing the receipe for success for the second half
of the year, after it held the second place on the Romanian insurance
market in the first quarter of 2007 and grew its volume of gross written
premiums with 104% in the first 5 months of this year compared to the
similar period of 2006.
Thus, the company intends to straighten its position on the market and
to intensify the promotion of the niche products for particular clients.
"Since the beginning of the year, we have intensified and accelerated the development
process of new insurance products. Until this moment, BCR Asigurari has launched
two new products on the Romanian profile market, Private Health Insurance - VIP,
the result of their collaboration with AXA Krankenversicherung AG from Germany,
and Commercial Credits Insurance, both being significantly different from the
products of the same category, difference that presents a series of benefits
for clients", Mihai TECAU, President of BCR Asigurari, stated for XPRIMM Newsletters.
"Also, in order to meet our clients' expectations, we shall inaugurate soon a
claim centre to serve for the solving of the damage files in the motor insurances'
case", the quoted official stated.
The claims centre of BCR Asigurari will have extra opening hours and
within it there will function a police unit specialized on the road accidents'
"The mission of this centre is to accelerate the notice process and to maximize
the solving motor damages' efficiency, respectively the appraisal and payment
through the prepared personal in the claim files' administration", Mihai
TECAU has completed.
So, without any restraint for the covered area to be conditioned by the
fact that the notice has to be made in the place where the event happened,
all drivers involved in a car accident in Bucharest will be able to address
to this centre.
In the first 5 months of this year, BCR Asigurari registered a RON 309.68
million amount of gross written premiums, up 104% compared to the similar
period of 2006.
CAPITAL & ALLIANCE - on the right way
Insurance broker CAPITAL & ALLIANCE will have an excellent 2007 year,
the estimated volume of mediated premiums exceeding EUR 4 million, Cristian
ANGHEL, General Director of CAPITAL&ALLIANCE stated for XPRIMM Newsletters.
"2007 means the activity's straighten for CAPITAL&ALLIANCE. We have started
by interrupting the collaboration with two important clients from the mediated
premiums point of view with the clear purpose of growing the efficiency of the
financial result. And we were right....With an amount of EUR 1.35 million mediated
premiums in the first semester of the year (up with 26% in comparison to the
first 6 months of the precedent year) and generated commission of EUR 0.22 million
(more with 63%), the results can't be considered but excellent", the General
Director has explained.
For 2007 the quoted official estimates that the generated commission
will reach EUR 650,000. The increase aimed by the company on both client
segments is 30% on retail and, respectively, 100% on corporate.
"We believe that during our eight years of activity, we have succeeded in creating
a solid business, and financial results aren't everything....After we became
member of GLOBEX International four years ago, this year, in June, we got a second
international recognition, becoming member of Worldwide Broker Network, the most
important international profile organization", Cristian ANGHEL added.
The General Director of CAPITAL & ALLIANCE sees a great potential
in the Romanian insurance market. The major problem would be, according
to him, the dependence of insurance market to the leasing market. "In
2005, the leasing market had a 45% increase, while insurance market enhanced
27%. In 2006, leasing market grew 63% and insurance market went up with
30%. In conclusion, we can affirm that proportions have maintained....
However, there are more niche market and unused sale models. These must
be identified and exploited", the official concluded.
by firstname.lastname@example.org, 13.07.2007
Green light for BT AEGON on pension market
BT AEGON, the new company of the Financial Group Banca TRANSILVANIA,
was authorized by the Private Pension Scheme Supervisory Commission
to set up a private pension company. This will activate on the compulsory
pension field (Pillar II) and has as objective to be among first five
players on the market and to have a share market of 15%.
The General Director of the pension company is Silvia SIRB. "We have
a clear objective, a definite strategy and we are confident that we can
aim this with the clients' and partners' support. We shall use the sale
force of Banca TRANSILVANIA, the network of BT Asigurari, but also other
sources which ease the consolidation on the market, as brokers authorized
and specialized on this field", Silvia SIRB stated.
"BT AEGON enters the market with 2 majors advantages, which are also the partners
of this project: Banca TRANSILVANIA, a powerful brand at national level, with
a great distribution and sale network, formed of 390 locations, and AEGON, one
of the most important life insurance and pensions company, with more than 160
international experience in the field", Robert C. REKKERS, General Director of
Banca TRANSILVANIA affirmed.
by email@example.com, 10.07.2007
Almost RON 68 million - Income for brokers in 2006
The net income recorded on the brokerage market in 2006 has exceeded
the amount of RON 67.88 million.
75% of this value has been realized by 24 companies according to the
financial situation reported by 313 insurance mediators to Insurance
The annual report published by the supervisory authority reveals that
220 insurance brokers have obtained income, while 93 had a negative financial
result. The total losses represent RON 3.78 million.
In the same time, the total income generated by the brokerage industry
represented RON 239.77 million.
by firstname.lastname@example.org, 11.07.2007
OMNIASIG strengthens its position on the market
Insurance Company OMNIASIG, member of VIENNA Insurance Group announced
its intention to consolidate its position on general insurance segment
as well as on developing Customer Support services.
In the first five months of the year, the company has increased its business
with 60.7% comparatively with the similar period of 2006, by an amount
of gross written premiums of RON 308.54 million.
"We plan to concentrate our efforts and to consolidate OMNIASIG's position on
general insurance market. In this direction, one of the major targets is represented
by the development of the retail segment through an attractive quotation, combined
with the development of the territorial network. Also, we intend to involve more
agents in the business and to increase the number of our subsidiaries up to 300
units", Costi STRANIC, Sales Director, OMNIASIG has stated for XPRIMM News.
"Financial results in the first parte of 2007 were influenced by an important
increase of the gross written premiums comparatively with paid claims dynamics,
following to maintain a prudence policy of underwritting major risks, sustained
by an efficient reinsurance program", Costi STRATNIC has completed.
The most relevant rates of growth were achieved on the MTPL and CASCO
segments, accidents, credit and health insurance.
by email@example.com, 19.07.2007