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XPRIMM News NEWS ALERT, July 11th, 2012
July 11th, 2012

img_lead_2336UCAROGLU: TCIP is a model structure for effective PPP
by, 2012-07-10
"Natural catastrophe property insurance coverage increased from 4% to 26%, following the TCIP-Turkish Catastrophe Insurance Pool establishment, while the claims-paying capacity was enhanced to USD 3.3 billion", showed at AIIF 2012 Menekse UCAROGLU, President of the Board, IUC, Turkey. Speaking about the TCIP achievements she also mentioned the increased public awareness for earthquake and insurance, the centralized marketing activities and brand management, the solid reinsurance program and increased operational efficiency, as well the improved coordinated work between the public agencies, the insurance industry, universities etc. "Keeping pricing at affordable level was also one the factors which made TCIP a model structure for effective public-private partnership", she said.

img_lead_2337WICHTOWSKI: Green Card System is assisting Azerbaijan to prepare for the CoB membership
by, 2012-07-10
"Every year are more and more accidents, because people are moving, working and travelling. This means the Green Card System is paying more over EUR 1.7 billion for claims. In many cases, in our domestic level, the claims are not so high because the limits are low. But in other countries, as France, there is no limit for cover. In EU, the lower limit is EUR 5 million, which is an issue needing a careful consideration if taking into account that claims settlement takes place in the country were the accident happened", said Mariusz WICHTOWSKI, President, Council of Bureaux, at AIIF 2012.

img_lead_2335OKTAY: Life insurance purchasing should be encouraged by state financial incentives
by, 2012-07-10
"The existence of a governmental sponsorship is very important to motivate people in purchasing long term life insurance policies, especially when it comes about the emerging, very young insurance markets", said Dr. Ahmet Naim OKTAY, CEO, Bs Management Consulting, speaking about the international experience of long term life insurance at the 2012 edition of AIIF - The Azerbaijan International Insurance Forum. "In Turkey, 65% of the insured cannot benefit from tax deduction", he added.

img_lead_2334NADIROV: Life insurance is the main growth source for the Kazakhstan market
by, 2012-07-10
Traditional life insurance classes represent the fastest growing segment in the Kazakh insurance market, recording in 1Q2012 a 420.6% growth rate, to EUR 12.4 million, mainly as a result of successful bancassurance operations. In the same period, annuity insurance market growth was of 52.7%, to EUR 34.9 million. Data were presented at AIIF 2012 by Dmitriy NADIROV, CEO, GENERALI Life, Kazakhstan.

img_lead_2329GEN Re Russia: From 2001 until 2011, premiums written in the emerging markets increased by 150% (update)
by, 2012-07-05
"New types of mandatory insurance contributed to the underwritings growth in emerging markets. From 2001 until 2011, premiums written in the emerging markets increased by 150%, according to SWISS Re's study. The most significant growth rate was registered in South-East Asia and Latin America. Therefore, the share of emerging markets in the total life insurance business worldwide increased from 5% to 14% and in the non-life insurance business, from 7% to 16%" said Capitolina TOURBINA, Director of Russia Representative Office, GEN Re at the Azerbaijan International Insurance Forum, organized in partnership by Azerbaijan Insurers Association and Media XPRIMM.

Read also:

SLOVENIA, 1Q2012: Continued the negative dynamics which started in 2011
SERBIA, 1Q2012: Despite economic decline, insurance market went up
BOSNIA, 1Q2012: FBiH in black, RS in red
LATVIA, 1Q2012: Decreasing domestic business compensated by the premiums written abroad
Stagnation for ESTONIAN market in 1Q2012
ALBANIA, 1Q2012: GWP falls 15.7%
KOSOVO, 1Q2012: GWP rose 2.9%

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