Back to

XPRIMM News NEWS ALERT, April 15th, 2015
July 15th, 2015

NEWS Alert

MUNICH Re's representative office in Russia closed
by, 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.

RAUTMANN-KREUTZER-150Nicola 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.

john_schoonbee80John 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.

Subscribe now to
32 CEE, SEE and CIS countries – insurance statistics and news + CEE and CIS regional statistics

Click here for more details
Click here for Free Trial


President: Sergiu COSTACHE CEO: Adriana PANCIU
Managing Partner: Alexandru D. CIUNCAN
Development Director: Mihaela CIRCU

Project Manager XPRIMM.COM: Daniela GHETU
Coordinating Editor: Mihai CRACEA
International Column Coordinator: Vlad BOLDIJAR
CIS Research Consultant: Olesea ADONEV
Senior Editor: Oleg DORONCEANU, Andreea RADU
Editors: Oana RADU, Adina TUDOR
Customer Relations Director: Georgiana OPREA
IT Department: Octavian GRIGOR, Dorin PALADE, Cosmin ARMASESCU


Reproduction or use without permission of editorial or graphic content, in any manner, is prohibited. The Editorial Staff is not responsible for the truthfulness or the accuracy of the presented data. The Editorial Staff has the right to present the data in it's own manner. In what concerns the use, in any manner, of the information contained in this e-mail, Romanian laws apply.

Click here to subscribe!
Click here to unsubscribe!

Copyright©2015 Media XPRIMM