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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 www.xprimm.com and
download the FY2011 Turkish insurance market statistics.
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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 www.xprimm.com and
download the FY2011 Slovenian insurance market statistics.
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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 www.xprimm.com and
download the FY2011 Romanian insurance market statistics.
More... |
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