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XPRIMM News NEWS ALERT, March 26th, 2012
March 26th, 2012

TURKEY, FY 2011: High inflation and massive currency devaluation, but still on the growth track
The Turkish insurance market closed the year 2011 with a premium production of TRY 17.17 billion, 21.5% up in nominal terms as compared to 2010. However, in real terms, considering the 10.45% inflation rate registered in 2011, the growth was of 10.04%. Moreover, 2011 also brought a significant devaluation of the Turkish Lira in relation to the European currency. As a result, denominated in Euro, market output was of EUR 6.07 billion, only 1.88% higher than in 2010. Yet, although at a lower pace, the Turkish market remains one of the very few which didn't leave the positive territory in the last years.

Access and download the FY2011 Turkish insurance market statistics.


SLOVENIA, FY 2011: First negative result after 16 years
Economic crisis, still lasting in Slovenia, affected last year the insurance industry: the 19 insurers member of Insurance Association (SIA) generated EUR 2.092 billion in gross written premiums, 0.12% less compared to 2010, primarily due to the decrease in life insurance. "The crisis is the main reason for the result in 2011, as the increasing unemployment rate and poverty left less money to spend for insurance. The market has shrinked for the first time in 2011 since the systematic monitoring began in 1995", stated for XPRIMM News Tomaz MANCINI, B.Sc., Head of the Statistical Analysis and Information Technology Service, Slovenian Insurance Association.

Access and download the FY2011 Slovenian insurance market statistics.


ROMANIA, FY 2011: Ready for recovery
The Romanian insurance market ended 2011 at about RON 7.8 billion (EUR 1.84 billion). As compared to 2010, the last years' figures show a nominal decrease of 6.9%, indicating a possible flattening of the downfall trend started in 2009.
Among the insurance classes with a relevant share in the market portfolio, life and household insurance were the only business lines, showing a positive dynamic which, in fact, slowed down the decrease of the total gross written premiums. These lines are also expected to be the growth drivers in 2012, year for which insurers are expecting to achieve a modest positive growth rate. If their expectations will prove correct, maybe 2012 will be the starting point for the market recovery.

Access and download the FY2011 Romanian insurance market statistics.


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