MUNICH
Re's representative office in Russia closed
by oleg.doronceanu@mxp.ro, 2015-07-14
One of the leading international reinsurers - MUNICH Re - has closed
recently its representative office in Russia and will continue
to serve local customers directly from Germany, according to Russian
newspaper VEDOMOSTI.
The publication reported that MUNICH Re has taken this decision
aiming to improve the efficiency of its Russian business, which
will ensure its future profitability. Also, the exit comes as a
result of a combination of factors - relatively narrow market of
the Russian Federation with a poor economy, low quality risks and
no prospects to improve performance.
 More
 Nicola
RAUTMANN, Market Executive Austria & CEE and Christian KREUTZER, Director, Market Head Russia & CIS - SWISS Re
Recently, SWISS Re organized their annual event dedicated to the
Russian market - SWISS Re Summer Reception - and presented its
plans and expectations regarding the development and future perspectives
of the company on the Russian market. More than 100 representatives
of the top insurance, reinsurance and brokerage companies attended
the event in Moscow.
More
 John
SCHOONBEE, Chief Medical Officer, SWISS Re
The European Insurance Report 2015,
released by SWISS Re in June 2015, is based on a survey of 13,000
people across 13 countries in Europe and the Middle East. The Report
looks into attitudes towards what life and health insurance products
people have in place, where the gaps are in their protection and
focuses on possible solutions to help with the financial consequences
of unexpected health shocks, especially for sudden disability or
serious illness. According to the Report's findings, collectively,
the total level of underinsurance in the countries surveyed is
currently around EUR 750 billion. Assuming that people would need
a 60% replacement income if unable to work because of illness or
injury, the report finds that at current levels replacement income
would barely cover 40% for most people.
More
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