 TOP
NEWS |
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 AXA:
Revenues decrease in life insurance and increase on P&C segment
by vlad.boldijar@mxp.ro, 2011-09-30
In the first six months of 2011, total revenues of AXA Group were
down by 3%, to EUR 47 billion. "The
decline was particularly visible in life and savings, where revenues
fell by 6.6%. In the property-casualty segment, revenues grew by
almost 3% thanks to price increases and our dynamic performance in
both high-growth markets and direct sales", stated Denis DUVERNE, Deputy CEO, AXA Group, at the Presentation of 2011 half-year
earnings.
 More  Продолжение
 ING
Insurance Group: Administrative costs caused major expenses in CEE
by vlad.boldijar@mxp.ro, 2011-09-30
In January-June 2011, the total underlying income from the insurance
operations decreased to EUR 18.88 billion from EUR 20.54 billion
in the same period of 2010. Also, the total premium income of ING
Insurance decreased by EUR 483 million to EUR 14.51 billion in the
first half year of 2011, from EUR 14.99 billion in the same period
last year, announced the company. There were decreases of business
in US (EUR 336 million), US VA business (EUR 222 million) and Benelux
(EUR 177 million), and increases in Asia (EUR 190 million) and Central & Rest
of Europe (EUR 61 million).
More Продолжение
 Decrease
in France, increase on International Markets for GROUPAMA
by vlad.boldijar@mxp.ro, 2011-09-30
In the first half year, the premium income of GROUPAMA amounted to
EUR 8.2 billion, 3% less compared to 1H/2010. Life and health premium
income amounted to EUR 3.8 billion, down by 10.1%, while property
and casualty premium income came to EUR 4.4 billion, representing
an increase of 4.2% in reported figures, compared to January-June
2010.
More Продолжение
 PZU's
net profit increased by EUR 99 million
by vlad.boldijar@mxp.ro, 2011-10-03
The first half of this year represented for the Polish insurance
group PZU SA a net financial result of EUR 391.44 million, representing
an absolute value increase of EUR 99.28 million, compared to 1H/2010,
according to Interim Consolidated Report published by the Group.
More Продолжение
 ROMANIA:
Major European groups have resumed market share growth on the motor
segment
by andreea.ionete@mxp.ro, 2011-10-03
The cumulated value of gross written premiums on motor insurance
in the first half of 2011 of member companies of the major European
insurance groups present in Romania (ALLIANZ, GENERALI PPF, GROUPAMA,
VIENNA Insurance and UNIQA) was EUR 372.2 million. The figure represents
72.3% of all businesses registered in the motor insurance market
(Motor Hull, MTPL and Green Card, added up), up 3 percentage points
compared to the first six months of 2010. Last year, the market share
of major profile groups had descended dramatically to 69%, from 80%
a year before.
More Продолжение
VIG:
The policy of merger of its own companies continues in Bulgaria
by vlad.boldijar@mxp.ro, 2011-10-11
After Romania, Poland and Georgia, VIG also announces the consolidation
of its presence on the Bulgarian insurance market, through the merger
of two companies specialized on the non-life segment: BULSTRAD (2nd
place in the market at the end of 1H/2011) and BULGARSKI IMOTI (10th
place).
More Продолжение
 EULER
Hermes operations in Romania will be integrated into a new structure:
EULER Hermes Europe. From October 1st, the group operates in Romania
through a new branch
by andreea.ionete@mxp.ro, 2011-10-04
Following reorganization activities of EULER Hermes (EH) in Europe,
starting October 1st, the activity of the new branch of EULER Hermes
in Romania, namely EH Credit Insurance Belgium Bruxelles, Bucharest
Branch, was launched. It will replace the German branch (EH Kreditversicherungs'AG
Hamburg), whose activity ceases with the same date, and will undergo
in the coming months a rebranding process, to align with the name
EULER Hermes Europe. The company also announced its intention to
transfer the entire insurance portfolio in Romania of the German
branch to the branch EH Credit Insurance Belgium.
More
 Strong
profit in second quarter for KBC Group
by vlad.boldijar@mxp.ro, 2011-09-30
KBC Group ended the second quarter of 2011 with a consolidated net
profit of EUR 333 million, compared with a net profit of EUR 821
million in the previous quarter and EUR 149 million in the year-earlier
quarter. "On
a cumulative basis, this means that the KBC group has generated a
net profit of EUR 1.15 billion in the first half of 2011, almost
double the corresponding figure for 1H/2010", according to the earnings statement published by the company.
More Продолжение
 Azerbaijan:
Possible delay in applying tax incentives for insurers, reinsurers
and banks?
by olesea.serghiescu@mxp.ro, 2011-10-13
For preventing the effects of the global crisis upon the financial
market of Azerbaijan, on January 1st, 2009, came into force the Law
regarding the "Increasing
the degree of capitalization of banks, insurance and reinsurance
companies", that provides "their release from paying the income tax and share capital increase until 2012", said Leila ABDULLAEVA, Expert, Center of Analytics, TREND Agency.
More Продолжение
 Exchange
of experience in Tirana between supervisory authorities from 10 countries
by vlad.boldijar@mxp.ro, 2011-10-13
Albanian Financial Supervisory Authority (AFSA) in cooperation with
the Hungarian Financial Supervisory Authority (HFSA), held on October
10th-11th, in Tirana, the second regional meeting with the Insurance
Supervisors from Central Europe, Eastern and South-Eastern Europe
countries (CESEE). The meeting had a wide presence from homologue
supervisory authorities from Albania, Austria, Hungary, Macedonia,
Moldova, Montenegro, Poland, Romania, Serbia and Slovakia.
More Продолжение
 INGO
Group has underwritten about EUR 985.4 million in the first half
of 2011
by olesea.serghiescu@mxp.ro, 2011-10-07
According to preliminary data, the volume of gross premiums underwritten
by insurance companies that are part of the INGO group, in the first
six months of the year, amounted to RUB 39.8 billion (EUR 985.4 million),
up by 11,3% compared to the same period in 2010; at the same time,
the claims paid by insurers fell by 2.6%, to RUB 25.0 billion (EUR
620.3 million).
More Продолжение
 A.M.
BEST assigns rating "B+" to Russian reinsurer UNITY Re
by oleg.doronceanu@mxp.ro, 2011-09-30
UNITY Re, the leader of the reinsurance market in Russia, received
the financial strength rating of "B+" (Good)
and an issuer credit rating of "bbb-" from the international agency A.M. BEST, reads the press release issued by the
company. The outlook assigned to both ratings is stable.
More Продолжение
 VIG
analyzes the Polish company WARTA before making an offer
by mihai.cracea@mxp.ro, 2011-09-29
VIENNA Insurance Group, the largest insurer in Central and Eastern
Europe, could begin next month the due-diligence process in the Polish
company WARTA, before making a concrete offer.
More Продолжение
 RESO
Garantia increased by 22% in the first six months of 2011
by olesea.serghiescu@mxp.ro, 2011-10-04
In the first six months of 2011, RESO Garantia has underwritten premiums
worth RUB 21.7 billion (EUR 549.2 million), up by 22% compared to
the same period of 2010. During the reported period, the amount of
claims paid by the insurance company increased by 18% compared to
1H/2010, reaching RUB 10.7 billion (EUR 271.4 million).
More Продолжение
 Georgia:
VIENNA Insurance Group plans to merge its companies GPI Holding and
International IRAO
by olesea.serghiescu@mxp.ro, 2011-10-10
VIENNA Insurance Group, main shareholder of insurance companies GPI
Holding and IRAO in Georgia, plans to start the merger of the two
companies, so that the Austrian group will own over 25% of the market
share, according to representatives of the National Bank of Georgia.
More Продолжение
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| ICAR
FORUM NEWS |
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 Marius
BULUGEA, General Manager, PAID: "Mayors should at least make people sign that they are aware about the compulsory
home insurance"
by andreea.ionete@mxp.ro, 2011-10-10
According to a set of studies conducted by international experts,
the damages that would occur in the case of an earthquake similar
to the one in 1977 would amount to EUR 4.8 billion, according to
Marius BULUGEA, General Manager of PAID.
More Продолжение
 Marinela
NEMES, ISC: "The fine is not the only penalty"
by mihai.cracea@mxp.ro, 2011-10-10
"The law regarding compulsory home insurance has a very high social significance
and time has shown that the insurance premium is not a tax. There have already
been granted compensations to those who suffered damages", said Marinela NEMES, Director of the Legal Department, Insurance Supervisory
Commission.
More
 Mesut
YETISKUL: "The campaign for selling mandatory household insurance has had two significant
effects upon the household insurance segment"
by oana.radu@mxp.ro, 2011-10-04
The moment of review for the household insurance in Romania is getting
closer, as the results of mandatory household insurance system and
not only are going to be reviewed on the occasion of ICAR - International
CAtastrophic Risks Forum 2011.
More Продолжение
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| FINANCIAL
NEWS |
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OECD
launches new report on measuring well-being
by daniela.ghetu@mxp.ro, 2011-10-13
Do you like your job? How's your health? Are you spending enough
time each day with your children? When you need them, are your friends
there for you? Can you trust your neighbours? And how satisfied are
you, overall, with your life?
A new OECD publication named How's Life? , looks at these questions
and others, offering a comprehensive picture of what makes up people's
lives in 40 countries worldwide. The report assesses 11 specific
aspects of life - ranging from income, jobs and housing to health,
education and the environment - as part of the OECD's ongoing effort
to devise new measures for assessing well-being that go beyond Gross
Domestic Product.
Investment
sustains OECD GDP growth in Q2 2011, but slowdown in private consumption
continues
by daniela.ghetu@mxp.ro, 2011-10-13
Real GDP in the OECD area grew by 0.3% in the second quarter of 2011.
Gross fixed investment was the main contributor, adding 0.2 percentage
point to overall growth. The contribution from private consumption
continued to slow in the second quarter of 2011. At 0.1 percentage
point the contribution from private consumption fell to its lowest
level since the second quarter of 2009. The negative contribution
from net exports reduced overall GDP growth by 0.1 percentage point.
IMF
encourages the planned unification of financial supervision authorities
in Lithuania
by daniela.ghetu@mxp.ro, 2011-10-13
Lithuanian economy has staged an impressive recovery, based on a
supportive global environment and determined policy adjustment, is
the main finding of the Concluding Statement afetr the IMF Staff
recent visit in Vilnius. After contracting sharply in 2008-09, economic
activity grew by 1½ percent in 2010 and a robust 6¼ percent in the
first half of 2011. The export-led recovery broadened to domestic
demand and employment growth accelerated. The recovery reflected
both the global upturn and strong policy action, including sizeable
fiscal consolidation, the maintenance of confidence in the banking
system, and significant wage adjustment that underpinned gains in
competitiveness.
Greek
recovery not expected sooner than 2013
by daniela.ghetu@mxp.ro, 2011-10-13
Greek the recession will be deeper than was anticipated in June and
a recovery is now expected only from 2013 onwards, concludes the
final document released after the fifth joint review mission carried
out by he European Commission (EC), European Central Bank (ECB),
and International Monetary Fund (IMF) in Greece. There is no evidence
yet of improvement in investor sentiment and the related increase
in investments, in part because the reform momentum has not gained
the critical mass necessary to begin transforming the investment
climate. |
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| EDITORIAL |
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 Well
deserved thanks
Lots of changes have emerged in the CEE and CIS countries during
the recent crisis years, but whatever and however deep they were,
as far as the insurance business is concerned at least one thing
didn't change: the growth potential lies still here, in the young
markets of the Central and Eastern Europe and former soviet countries. Read
more
vlad.boldijar@mxp.ro
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| EVENTS |
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3rd Baden-Baden XPRIMM Reception
Launch of XPRIMM Insurance Report
October 23rd, 2011, 19.00 - 21.00
Kurhaus Casino, Runder Saal
 Be
the first to receive a FREE COPY of The 5th Edition of XPRIMM Special
Report - containing the CEE, Turkey, Russia & CIS insurance markets results for 1H/2011.
Moreover, you will also get your unique password that will provide
Full Free Access until December 31st to www.xprimm.com. Read
more
32nd Baden-Baden Meeting 2011
October 23rd-27th, 2011
Baden-Baden, Germany
For details: www.badendirectory.com
Baden-Baden XPRIMM Reception
October 23rd, 2011
Kurhaus Casino, Runder Saal
Baden-Baden, Germany
Organizer: PRIMM Magazine -
Insurance&Pensions
For details: www.xprimm.com
WorldPensionSummit 2011
November 2nd-4th, 2011
Amsterdam, Olanda
Partener Media: PRIMM Asigurari & Pensii
For details: worldpensionsummit.com
Health Insurance Conference - Republic of Moldova
November 14th, 2011
Codru Hotel, Chisinau, Republic of Moldova
Organizer: Media XPRIMM
Fraud Management in Motor Insurance - Conference
November 14th, 2011
Codru Hotel, Chisinau, Republic of Moldova
Organizer: Media XPRIMM
European Banking & Insurance
Fair 2011
November 15th
IFEMA - Feria de Madrid, Madrid, Spain
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
International Insurance Forum 2012
March 5th-6th, 2012
Istanbul, Turkey
Organizer: Media XPRIMM si
Istanbul Underwriting Center
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| INTERVIEW |
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 Ramunas
BARAVYKAS
Deputy Chairman
Lithuanian ISC
As the economy continues to grow, insurance business - in particular
corporate segment - will generate more revenue. Clearly, assessing
the global trends, we cannot exclude the possibility of a recessionary
scenario, but even in this case, the insurance sector for some time
will have the same trend because of inertia and the adverse developments
will affect next year results. Read
more
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| STATISTICS |
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Anton
NEDVEDSKY
Klime
POPOSKI
