 TOP
NEWS |
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 European
Council proposes Solvency II postponement to 2014
by mihai.cracea@mxp.ro, 2011-06-28
The European Council served the requests coming from the international
insurance market and postponed the implementation of Solvency II
until 2014, although the deadline was already set for January the
1st of 2013. It was also proposed that capital requirements to be
met by March 31st, 2013 and incorporated in the legislation of each
country, following the verification by the supervisory authorities
to be made early next year.
 More  Продолжение
 ALLIANZ
plans to chip in EUR 300 million for Greece's recovery
by mihai.cracea@mxp.ro, 2011-07-07
ALLIANZ will participate with EUR 300 million to the recovery plan
of Greece, according to Michael DIEKMANN, CEO of the company. "We
are speaking about a financial commitment coming from our group of
about EUR 300 million by 2014", mentioned the official.
More
 Decreasing
profit for the insurance market in the Czech Republic
by vlad.boldijar@mxp.ro, 2011-07-04
In the first three months of 2011, insurers activating on the profile
market in the Czech Republic achieved a net profit of EUR 160.3 million,
down by EUR 36.1 million compared to Q1/2010, as show the data recently
published by the National Bank of Czech Republic.
More Продолжение
 KBC
is putting out on sale its insurance company in Poland
by vlad.boldijar@mxp.ro, 2011-07-04
Belgian financial group KBC is taking into consideration the sale
of its Polish subsidiaries, KREDYT Bank and the WARTA insurance company,
according to the Belgian daily De TIJD.
More Продолжение
 Ukrainian
insurance market grew by 29.8% up to EUR 529.81 million in Q1/2011
by olesea.serghiescu@mxp.ro, 2011-07-01
Gross written premiums in the first three months of 2011 by the Ukrainian
insurance companies rose to UAH 6.09 billion (EUR 529.81 million),
29.8% higher than Q1/2010 (UAH 4.69 billion - EUR 408.50 million),
according to the data published by the Financial Markets Supervisory
Committee from Ukraine, according to forinsurer.com.
More Продолжение
 EUREKO:
Two new members to Supervisory Board
by vlad.boldijar@mxp.ro, 2011-07-01
Starting July 1st, 2011, EUREKO will have two new members to the
Supervisory Board, according to the press release.
More Продолжение
 ALICO
Asigurari Romania is interested in potential acquisitions
by mihaela.circu@mxp.ro, 2011-07-05
ALICO Asigurari Romania is aiming for the leading position on the
Romanian life insurance market, in terms of underwritings. Currently,
the insurer owns the third place in this market, according to a top
made by the specialized magazine INSURANCE Profile. "We
are relying on an organic business development, but we are also eyeing
to potential acquisition options", stated Theodor ALEXANDRESCU, General Manager, ALICO Asigurari Romania.
More
 BUPA
International and AXA PPP Healthcare offer health insurance in Romania
through PIRAEUS Insurance Broker
by andreea.ionete@mxp.ro, 2011-07-04
PIRAEUS Insurance Broker signed in June mediation contracts with
two of the largest worldwide private health insurance providers,
according to the General Manager of the company, Cristian BALANICA.
Thus, the broker will offer its clients health insurance policies
from BUPA International and AXA PPP Healthcare with a global coverage
including the US and Canada, through the Corporate - Private Insurance
department lead by Adonis MANUSSOS and Pavlos IOSIFIDIS. Both companies
are from the Great Britain and have the license required for practicing
health insurance on the Romanian market.
More Продолжение
 Georgia:
The health insurance segment maintained the market at its 2009 level
by olesea.serghiescu@mxp.ro, 2011-07-04
In 2010, the insurance market in Georgia has seen a slight increase
of the gross written premiums, of 0.27%, up to GEL 361.46 million
(EUR 152.24 million) as compared with the similar period of 2009,
when the profile companies underwrote GEL 360.45 million (EUR 151.82
million), according to the most recent data published by the National
Bank of Georgia.
More Продолжение
 Moldova:
The market remained in the black in Q1/2011
by vlad.boldijar@mxp.ro, 2011-07-07
In the first three months of 2011 one citizen of the Republic of
Moldova spent EUR 3.6 for insurance products, EUR 0.5 more than the
insurance density calculated for Q1/2010. On insurance classes in
the Republic of Moldova during January - March 2011, about 30 eurocents
have been spent on life insurance and EUR 3.3 for household insurance
per citizen.
More Продолжение
 Belarus:
The profile market grew with 39% in the first five months of 2011
by olesea.serghiescu@mxp.ro, 2011-07-06
During January - May of 2011, the insurance companies in Belarus
underwrote premiums worth BYR 693.66 billion (EUR 97.60 million),
about 39% higher than the similar time of 2010 (BYR 500.91 billion
- EUR 70.48 million).
More Продолжение
 GROUPAMA,
the new reinsurer of Azerbaijan's crops
by mihai.cracea@mxp.ro, 2011-06-30
France's GROUPAMA signed a reinsurance contract with BASAK-INAM Sıgorta
Sirketi of Azerbaijan, for the risks covered by the company through
agricultural insurance. GROUPAMA is a worldwide leader in agricultural
insurance and it is present on many markets in the world, including
Romania.
More Продолжение
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| FINANCIAL
NEWS |
|
 OECD:
GDP continued to grow in 1Q 2011 despite the private consumption
weakening
by daniela.ghetu@mxp.ro, 2011-07-07
Real GDP in the OECD area grew by 0.5% in the first quarter of 2011.
Although private consumption remained the main driver of growth in
the OECD as a whole, its contribution to growth fell in nearly all
major economies. At 0.2 percentage point, private consumption's contribution
to OECD growth fell to its lowest level since the second quarter
of 2009.
 EBRD:
In 17 out of the 29 in transition countries, half of households were
significantly affected by the crisis
by daniela.ghetu@mxp.ro, 2011-07-07
"The global economic crisis hit the households of transition countries in
multiple ways. Subjective perceptions confirm the widespread impact, with two-thirds
of respondents being affected. Households were affected primarily through the
labour market by job losses and reduced wages and remittances", concludes a survey, recently released by EBRD and The World Bank. |
| TRENDS |
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Moldova:
Insurers assess the market perspectives 20 years after start-up
The insurance market in the Republic of Moldova has known constant
positive dynamics for the last few years, in both quantity and quality,
under the circumstances of the elaborated program of reform of the
industry, launched by the supervisory authority in Chisinau after
the year 2007. At the celebration of 20 years of existence of the
insurance market in the Republic of Moldova, XPRIMM TV team interviewed
the leaders of the main local insurance companies, regarding how
they estimate the local profile industry will evolve in the next
couple of years. Read
more
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|
| EDITORIAL |
|
 Some
hints for your autumn agenda... just before summer holidays
There is already summer and most of us think of vacation. Some are
already on the sunny beaches. The XPRIMM Team is also going to have
a short break, meaning our following issue will meet you in August.
Meanwhile, the insurance business doesn't rest. As you may also see
by reading today's headlines, new operations are undergoing, sales
or acquisitions are announced, future interesting events and publications
are prepared. Read
more
daniela.ghetu@mxp.ro
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|
| POINT
OF VIEW |
|
 Radu
MANOLIU
Deputy General Manager
CREDIT EUROPE Asigurari
All persons involved, directly or indirectly, in recent years, in
the underwriting activity had to face the increasing pressures of
the market, given the continuous and generalized decrease of premiums.
As expected, most of the prudential policies were abandoned, from
the beginning, gradually or in the end, in the face of these pressures,
and this led to the establishment of a dumping system, extended at
least to the types of insurance with significant market share. Fortunately,
there were enough exceptions from this "fight
for survival", where the adjustment process of the rates did not stop at the prudential threshold,
both for large size insurers, and for medium or small size ones,
so that the market would not yet destabilize. Read more
|
| ON
THE MOVE |
|
 Constantin
TOMA resigned from the leadership of OMNIASIG. The resignation
was accepted
Constantin TOMA, one of the most powerful men in insurance, has handed,
according to market sources, his resignation from the function of
President of OMNIASIG, the third player on the profile market. The
resignation was accepted by the management of VIENNA Insurance Group.
Thus, starting July 1st, 2011, OMNIASIG will be led, until the appointment
of a new President, by Constantin MARICA, Vice President of OMNIASIG. Read
more
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| EVENTS |
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The Azerbaijan
International Insurance Forum
July 7th-8th, 2011
Baku Business Center, Baku, Republic of Azerbaijan
 Azerbaijan
Insurers Association, in partnership with Media XPRIMM and with support
of Baku's Ministry of Finance, organizes on July 7-8, the second
edition of Azerbaijan International Insurance Forum. The event takes
place at Business Center, Baku, and focuses on analyzing not only
the development trends of the local insurance market, but also that
of the other insurance markets in the region. Read more
Les Rendez-Vous de Septembre
September 10th-15th, 2011
Monte Carlo, Monaco
Organizer: RVS
Media Partner: PRIMM Magazine
- Insurance&Pensions
For details: www.rvs-monte-carlo.com
Motor Insurance National Conference - Bulgaria
2011
September 27th, 2011
Sofia, Bulgaria
Hotel Sheraton
Organizers: Media XPRIMM and
INSMARKET.BG
11th International Yalta Finance Forum
September 19th-23rd, 2011
Yalta, Ukraine
Organizer: The League of Insurance
Organizations of Ukraine
Media Partner: PRIMM Magazine
- Insurance & Pensions
For details: www.cbs.org.ua
32nd Baden-Baden Meeting 2011
October 23rd-27th, 2011
Baden-Baden, Germany
For details: www.badendirectory.com
Baden-Baden XPRIMM Symposium
October 23rd, 2011
Kurhaus Casino Damenzimmer & Spiegelsaal
Baden-Baden, Germany
Organizer: PRIMM Magazine -
Insurance&Pensions
6th European Pension Funds Congress
November 15th, Frankfurt am Main
Organizers: EFRP and MALEKI
Group
Media Partner: PRIMM Publications
For details: www.malekigroup.com
EIOPA Conference
November 16th, Frankfurt am Main
Organizer: MALEKI Group
Media Partner: PRIMM Publications
For details: www.malekigroup.com
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| INTERVIEW |
|
 Klime
POPOSKI
President of the Council of Experts
Macedonian ISA
"We expect a growth, especially in the non-life property insurance,
as well as in the liability insurance. Beside these two directions, a specific
development trend has been noticed in the life insurance sector, namely the development
of the bank insurance, a concept which till now, was not present on the Macedonian
market, and by which, the policyholders will be offered with a new type of quality
service". Read more
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| STATISTICS |
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