 Romania ... a click away
The title above is not a figure of speech. It refers to the Romanian
insurance market, the sole market in CEE region which provides, starting
these days, a complete history of its insurance market evolution for
the last five year in an interactive, fully customizable, quarterly
updated data base: Interactive Insurance Profile (www.insuranceprofile.ro),
a Media XPRIMM brand.
More |
 ASF:
We expect more openness from all companies to settle differences
of opinion
by daniela.ghetu@mxp.ro, 2013-05-22
"The insurance market will have my full support, and
I will do everything in my power to protect the customers' rights" stated Daniel TUDOR,
Vicepresident of ASF, in charge with the insurance sector supervision.
 More
 Doru
Claudian FRUNZULICA, ASF: Brokers represent a key element in developing,
reinforcing and increasing the insurance market transparency
by adina.tudor@mxp.ro, 2013-05-22
"In the last year there have been clearly positive and encouraging signs
announcing the expansion of the brokerage in Romania also due to some
governmental policies. Insurance brokers represent a key element in
developing, reinforcing and increasing the insurance market transparency
in Romania," declared
Doru Claudian FRUNZULICA, Member of the Financial Supervisory Authority
Council (ASF), during the conference "Brokers' Day" that took place at the International Insurance-Reinsurance Forum - FIAR 2013.
More  Продолжение
 GIURESCU,
ASF: We are working on the retirement pay law, as well as on the implementation
of occupational pensions
by vlad.boldijar@mxp.ro, 2013-05-22
"In all these years we - authorities, administrators, supervisory
authorities - have made together the history of this market. We succeeded
in setting
up a system in which many people believed and which was quite disputed
even before, but also after it was applied. What I think is very good
is that amid this turmoil we managed to obtain unexpected results,
without bringing forth dissatisfaction and noise. Even if occasionally
there were discussions, we all know that a solution that pleases everybody
is not necessarily the right solution," pointed
out Ion GIURESCU, ASF Vice President for the private pensions field,
five years after the setting up of Pillar II.
More Продолжение
 Artur
BOROWINSKI: The MTPL prices and the high claims frequency on Motor
Hull are the main problems of the Romanian motor insurance market
by vlad.boldijar@mxp.ro, 2013-05-22
"As far as the MTPL segment is concerned, the market's
main problem is the unsustainable price of policies, resulting from
the fierce competition,
as certain insurance companies underwrite for cash-flow. Regarding
Motor Hull, the main problem consists in the extreme high frequency
(over 50%) of claims, and as a result, the Romanian insurers have the
highest prices in Central and Eastern Europe",
Artur BOROWINSKI, Vicepresident, OMNIASIG VIG, declared during the
Motor Insurance Day at FIAR 2013.
More
 The
reinsurers ask for an active management of risk exposure and sustainable
prices in Romania
by adina.tudor@mxp.ro, 2013-05-22
"We will stay in the Romanian market for a long time",
Sinisa LOVRINCEVIC, Head of Business Development, Regional Director & Senior Underwriter, TRUST Re declared during the reinsurance workshop at FIAR
2013.
More
 Guy
HUDSON: Non-material damages are the big problem on the reinsurance
segment
by adina.tudor@mxp.ro, 2013-05-22
"Are reinsurers preparing to leave the Romanian and Eastern
Europe markets? No, but there are certain business classes on which
they are not ready
to underwrite. Non-material damages are the biggest problem - reinsurers
cannot plan ahead properly in such cases, taking into consideration
the diversity of decisions settled by law courts," explained
Guy HUDSON, Partner, JLT Re, within the workshop dedicated to reinsurance
at FIAR 2013.
More Продолжение
 Mihai
TECAU, OMNIASIG VIG: We must change proportions and make more efforts
jointly to sell non-motor premiums
by andreea.ionete@mxp.ro, 2013-05-22
"The structure of premiums written on behalf of the company
by the insurance brokers shows a prevailing contribution of motor premiums,
of 74%,
as compared with 49% over the total market, which proves that insurers
make more efforts to sell non-motor products. At OMNIASIG we created
new products for goods, real estate and health insurance, as well as
complete packages for SMEs, in view of providing a diversified updated
offer to the client," declared
Mihai TECAU, OMNIASIG VIG President, within "Brokers' Day" at FIAR 2013.
More Продолжение
 The
Turkish market is becoming more and more dependent on the brokers for
the reinsurance of the earthquake risk
by mihai.cracea@mxp.ro, 2013-05-22
Because of the exposure to the earthquake risk, Turkey was among the
first countries in the world in which an insurance pool against this
risk was set up. However, due to the relatively high damages and the
rather weak technical results recorded by the local companies, the
reinsurance against the earthquake risk is facing with some difficulties.
More Продолжение
 MILLI
Re, the biggest reinsurer in Turkey, is betting on growing business
in CEE
by mihai.cracea@mxp.ro, 2013-05-22
MILLI Re, the biggest local reinsurance company on the Turkish market,
continued to develop its business, reaching a total underwritings volume
of over USD 578 mil. in 2012. 76% of the revenues were achieved locally,
their weight being on a falling trend as compared with the previous
years.
More Продолжение
 Russian
reinsurers can become an important source of supplementary capacity
on the CEE market
by mihai.cracea@mxp.ro, 2013-05-22
"Russian reinsurers have capacity, but we are advising
our partners to
carefully choose their local collaborators," stated
Dmitry GARMASH,
Deputy Executive, UNITY Re.
More Продолжение
 Brokers
are looking for the wonder panacea for the revival of the insurance activity
at FIAR 2013
by andreea.ionete@mxp.ro, 2013-05-22
"I still believe the main problem of the insurance market is credibility," declared
Bogdan ANDRIESCU, President of the Professional Association of Insurance Intermediaries
and Consultants, on "Brokers' Day" at FIAR 2013. For a growth in the trust capital, the President of UNSICAR considers
that "fair play in the relations with the business partners and consumers is needed
as well as better communication - both among us, insurers, and with the clients.
Moreover, we should increase our power of adaptation to the conditions of the
economic environment and the consumer's behavior, through a higher professionalism."
More Продолжение
 Cristian
FUGACIU: Insurers and brokers must educate the market for a sustainable growth
by adina.tudor@mxp.ro, 2013-05-22
Lately the brokerage market has increased, but this growth needs to be a sustainable
one. "If
the brokerage market growth stems from compulsory motor insurance writing, I
don't think it is sustainable in the long term, because the evolution of prices
and the growth potential for this class of insurance are not unlimited. We should
discuss about the added value we bring to the market, including the new products.
Insurers and brokers should try to educate the market in order to obtain a sustainable
growth. In Romania, the expenditure made by the average inhabitant on insurance
dropped under 100 EUR, we are under Bulgaria's level. I think we reached the
2008 volume, which cannot be considered a growth," declared Cristian FUGACIU, General Manager, MARSH Romania, within "Brokers' Day" at FIAR 2013.
More Продолжение |
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