 TOP
NEWS |
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 Jean
AZEMA left the management of GROUPAMA. His place was taken by
Thierry MARTEL
by mihai.cracea@mxp.ro, 2011-10-26
Jean AZEMA, the CEO of the French insurer GROUPAMA, has left the
company's management, Thierry MARTEL being appointed in his place.
Jean AZEMA, who has held this position since June 2000, left the
group due to the depreciation of the long term credit rating, granted
both by STANDARD & POOR's
and by FITCH, from 'BBB+' to 'BBB' with negative outlook. At the
same time, the group suffered losses in its investment portfolio
held at SOCIETE GENERALE and VEOLIA Environment.
 More  Продолжение
 The
transaction of acquisition of WARTA (Poland) could reach EUR 350
million
by vlad.boldijar@mxp.ro, 2011-10-20
The aquisition price of Polish insurer WARTA (third insurer in the
market), owned by Belgium's KBC, is estimated at about EUR 233 million
- EUR 350 million, according to Polish financial daily PARKIET. According
to the quoted source, many renowned international insurance groups
are interested in the acquisition of the Polish insurer: ZURICH (Switzerland),
SAMPO (Japan), VIENNA Insurance Group (Austria), ALLIANZ and TALANX
(Germany), GENERALI (Italy) and AXA (France).
More Продолжение
 Armenian
parliamentarians proposed reduction of MTPL tariffs. Insurers do
not agree
by vlad.boldijar@mxp.ro, 2011-10-20
Less than a year since the implementation of the law regarding mandatory
MTPL insurance for Armenian drivers, the regulation rises controversies,
members of Parliament proposing the reduction of the price of the
policy: "Our
main task is to ensure the system's security, on the one hand, and
the citizen's "wallet", on the other hand", said Artsvik MINASYAN, DASHNAKTSUTYUN opposition party representative, quoted
by armbanks.am.
More Продолжение
 POLAND:
KNF, Polish Financial Supervision Authority, has a new Chairman
by daniela.ghetu@mxp.ro, 2011-10-25
On October 12th, 2011, Prime Minister Donald TUSK appointed Andrzej
JAKUBIAK, former central bank NBP Deputy, as Chairman of the KNF
- Polish Financial Supervision Authority, replacing Stanislaw KLUZA,
whose term has just expired.
More Продолжение
 EBRD
bought a quarter of the shares of UNIVERSALNA (Ukraine)
by vlad.boldijar@mxp.ro, 2011-10-25
The European Bank for Reconstruction and Development (EBRD) has become
a shareholder in the Ukrainian insurance company UNIVERSALNA with
an equity investment of UAH 85 million (approximately USD 10.6 million),
announced the insurer. Also, with a 23% stake, the EBRD is now the
second largest shareholder in the company. Besides the founders and
EBRD, UNIVERSALNA's existing shareholders include GOLDMAN SACHS,
Emerging Europe Growth Fund (managed by HORIZON CAPITAL), GENESIS,
and others.
More Продолжение
 SBERBANK
will buy ALLIANZ Life (Russia) before the end of 2011
by vlad.boldijar@mxp.ro, 2011-10-25
SBERBANK announced the signing of an agreement for the acquisition
of 100% stake of Insurance Company ALLIANZ Life, according to investinrussia.biz.
The current shareholder of the Company is ISC ALLIANZ. The parties
agreed to close the transaction before the end of 2011. The price
of the transaction is not disclosed.
More Продолжение
 Reinsurers
of the Pool in Turkey can "escape" from claims payment
by mihai.cracea@mxp.ro, 2011-10-25
Reinsurers from the insurance program against earthquakes in Turkey
could be exempted from the claims payment due to the high degree
of risk retention that the Pool has in case of an earthquake. According
to sources from WILLIS Re, the broker who mediated the reinsurance
program, the limit of retention of EUR 175 million has not been reached.
More Продолжение
 KBC
launches tender offer on Bulgarian company DZI Insurance
by vlad.boldijar@mxp.ro, 2011-10-20
Belgian financial services group KBC will launch a public tender
offer on its Bulgarian insurance subsidiary DZI, in which it currently
holds 90.35%. According to the press release, the bid price is set
at BGN 71 per share, while the maximum total consideration amounts
to BGN 26.5 million (approximately EUR 13.5 million). The tender
offer is expected to start in the fourth quarter of 2011 and to expire
at the beginning of 2012.
More Продолжение
 MOLDASIG
in Top 50 CIS insurers
by vlad.boldijar@mxp.ro, 2011-10-19
The leader of the insurance market in the Republic of Moldova was,
after the first six months of the year, on the 30th position in the
hierarchy of CIS insurance companies, by the underwritings criterion,
shows XPRIMM INSURANCE REPORT 1H 2011. The second company, by size,
from Moldova, ASITO, has occupied the 51st position in the same ranking,
while GRAWE CARAT Asigurari was ranked 65th. The presented ranking
does not include insurers from Russia, Ukraine, Tajikistan and Turkmenistan.
More Продолжение
 VIG
now active in 25 markets. Acquisition of JAHORINA (BiH) closed
by vlad.boldijar@mxp.ro, 2011-10-20
VIG announced on October 20th, 2011, that it is the new majority
shareholder in the JAHORINA insurance company in the Republic of
Bosnia and Herzegovina. VIG has acquired approximately 91.7% of the
company's overall capital and approximately 96.6% of the voting shares
in the company, which results in the entry of VIG on its 25th market. "VIENNA
Insurance Group will subsequently issue a takeover bid to all remaining
voting shareholders of the company in accordance with local legislation", stated the press release.
More Продолжение
 ISC
gives green light for the taking over of ASITO Kapital by MOLDASIG
by oleg.doronceanu@mxp.ro, 2011-10-12
The company MOLDASIG received the approval of the Insurance Supervisory
Commission (ISC) for the acquisition of 99.9% of the shares of ASITO
Kapital in Romania, according to the Moldavian insurer's officials.
The decision comes after four months ago, the supervisory authority
in Moldova - National Commission of Financial Markets - had also
approved this transaction, the documents having been sent to ISC.
More Продолжение
 Russia:
Prices for Green Card policies are increasing by about 9%
by olesea.serghiescu@mxp.ro, 2011-10-18
As of October 15th, the Motor Insurers' Union in Russia announced
an increase of about 9% of tariffs for international Green Card policies.
Prices for Green Card policies are reviewed quarterly and are reported
to the exchange rate EUR/RUB, according to Forinsurer portal.
More Продолжение
 Anton
RIBNIKAR is the new President of the TRIGLAV Group Supervisory Board
by vlad.boldijar@mxp.ro, 2011-10-20
The Supervisory Board of TRIGLAV Group elected on October 17th, 2011,
Anton RIBNIKAR as the President of the TRIGLAV Group Supervisory
Board, following the resignation of Borut JAMNIK from the position
on September 19th, 2011, announced the company.
More Продолжение
VIG
made new appointments in the Managing Boards of companies from the
Czech Republic and Slovakia
by vlad.boldijar@mxp.ro, 2011-10-24
VIENNA Insurance Group announced important changes in the Managing
Boards of the companies KOOPERATIVA poistovna, active in the insurance
markets in the Czech Republic and Slovakia, respectively.
More Продолжение
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| BADEN-BADEN
NEWS |
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 VIDEO: The
Azeri insurance market presented at BADEN-Baden XPRIMM Reception
by daniela.ghetu@mxp.ro, 2011-10-24
"We are proud to present you our insurance market, as we strongly believe that
it offers you an interesting business perspective. We are working to develop
our market on modern and sustainable basis and, in this respect, the European
expertise is a valuable one. I believe the event organized by Media XPRIMM builds
an effective bridge between our markets and this is why we decided to be part
of it", stated Azer ALIEV, Executive Director Azerbaijan Insurers Association, Yesterday
evening, at the third edition of Baden - Baden XPRIMM Reception, organized by
Media XPRIMM.
More Продолжение
 INSURANCE
Profile - Azerbaijan 1H 2011, a young market confirms its promises
by vlad.boldijar@mxp.ro, 2011-10-24
The Azeri insurance market showed a 10% growth in written premium
in 1H 2011, up to about USD118 million, according to the second special
issue of INSURANCE Profile, dedicated to Azerbaijan's insurance market.
The publication was launched yesterday, October 23rd, on the occasion
of the third edition of Baden-Baden XPRIMM Reception, by Media XPRIMM
in cooperation with AIA, the Association of Azeri Insurers.
More Продолжение
GUY
CARPENTER: Reinsurance market hasn't turned corner yet
by oleg.doronceanu@mxp.ro, 2011-10-24
The global reinsurance market has not yet turned the corner into
an upturn, a panel of speakers at the GUY CARPENTER symposium at
the annual Baden-Baden Rendez-Vous has agreed.
More Продолжение
European
insurers will be hard hit if debt contagion spreads to Italy and
Spain
by oleg.doronceanu@mxp.ro, 2011-10-24
European insurers will be hard hit if debt contagion spreads to Italy
and Spain according to MOODY's. The rating agency said most rated
European insurers could sustain further weakening in the creditworthiness
of the Irish and Portuguese sovereigns as well as higher-than-expected
losses on Greek sovereign debt.
More Продолжение
 MUNICH
Re bets on the CEE potential
by vlad.boldijar@mxp.ro, 2011-10-24
MUNICH Re has an active and stable presence in the Central and Eastern
Europe, being aware of the potential of this region, told Ludger
ARNOLDUSSEN, Member of Munich Re's Board of Management to XPRIMM
Insurance Newsletters.
More Продолжение
MUNICH
Re: 2011, the most expensive year in terms of natural catastrophes
by mihaela.circu@mxp.ro, 2011-10-24
Given the large number of catastrophic events this year, 2011 is
proving to be the most expensive year ever in terms of paid claims
volume. This already has effects on the reinsurance price, in the
current renewals season.
More Продолжение
 Mergers
and acquisitions, USD 3.4 billion in the first six months
by mihaela.circu@mxp.ro, 2011-10-26
Extremely high volatility of financial markets and an unfavorable
economic climate continue to impede the development of mergers and
acquisitions market in insurance and reinsurance industry, according
to a report presented in Baden-Baden by GUY CARPENTER. Thus, the
activity in this field in the first six months of 2011 stood at a
level similar to the one from the corresponding periods in 2010 and
2009. From January to June 2011, a total of 22 major transactions
were announced and completed, whose aggregated value amounts to over
USD 3.4 billion.
More
 MUNICH
Re sustains fiscal union and a common budgetary policy in EU
by mihaela.circu@mxp.ro, 2011-10-26
MUNICH Re sustains the introduction of fiscal union and a common
budgetary policy at EU level, as a solution to the current macroeconomic
situation, caused by the sovereign debt crisis, that threatens to
destabilize the entire continent.
More
 RUSSIA:
Increased regulation narrows local reinsurance market
by mihai.cracea@mxp.ro, 2011-10-26
Increased regulations in the insurance industry in Russia have led
many companies to cease trading, explained Olga SIGALOVICH, General
Director, Eastern Insurance and Reisurance Company (EIRC), for Intelligent
Insurer. "New
capitalisation requirements for reinsurers have meant that the market
has declined sharply, as companies without enough capital to meet
the new legislative requirements have left the market", stated Olga SIGALOVICH.
More Продолжение
 Reinsurers
are seeking niche risks
by vlad.boldijar@mxp.ro, 2011-10-26
The pressure to underwrite more premium income to cover losses from
the first half of the year but without reducing rates means reinsurers
are increasingly open to writing new business in niche areas and
from previously under-developed markets.
More Продолжение
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| FINANCIAL
NEWS |
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Economic
Expectations for the CEE Region Brighten Up
by daniela.ghetu@mxp.ro, 2011-10-27
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central
and Eastern Europe including Turkey (CEE) has increased by 13.0 points
in October 2011 for the first time in the last five months. The indicator
has climbed up to the minus 25.0 points mark. Economic Expectations
for the Eurozone have also increased by 18.3 points to a level of
minus 49.1 points. The economic sentiment indicator for the CEE region
and further financial market data have been surveyed monthly by the
Centre for European Economic Research (ZEW), Mannheim, with the support
of Erste Group Bank, Vienna, since 2007.
BELKA,
NBP: Poland is no longer rushing to enter the Euro-zone
by daniela.ghetu@mxp.ro, 2011-10-27
"The euro has lost some of its in attractiveness and Poland is in no rush
to enter the euro-zone", governor of the National Bank of Poland (NBP) Marek BELKA stated recently,
on the occasion of the NBP's Conference.
Slovenia's
Ratings lowered by S&P as a result of the weakening fiscal position
by daniela.ghetu@mxp.ro, 2011-10-27
Standard & Poor's Ratings Services said on
October 20th that it lowered its long and short-term sovereign credit
ratings on the Republic of Slovenia to 'AA-/A-1+' from 'AA/A-1+'.
The transfer & convertibility (T&C) assessment for Slovenia remains unchanged at 'AAA'. The outlook is stable. |
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| EDITORIAL |
|
 Baden-Baden,
a checkpoint on the "silk route"
A few days ago we've met for the third time our readers in Baden-Baden,
on the occasion of the third edition of Baden-Baden XPRIMM Reception.
Over 250 professionals from the re/insurance companies all over the
world took advantage, on October 23rd, of the opportunity to be the
first readers of the autumn edition of XPRIMM INSURANCE REPORT, the
publication which brings together the insurance statistics of the
CEE and CIS regions for 1H 2011. Read
more
daniela.ghetu@mxp.ro
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| EVENTS |
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EIOPA has the pleasure to invite you to its
1st Annual Conference, which will be held on 16 November 2011 in
Frankfurt am Main (Germany).
Building on the success of previous CEIOPS Conferences, EIOPA will
be offering a platform for distinguished speakers and representatives
to exchange views and for participants to acquire a fascinating insight
into the future of supervision in the European insurance and occupational
pensions sectors. Read
more
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 |
|
 Bozana
SLJIVAR
Director
Insurance Agency of Republic of Srpska, Bosnia and Herzegovina
The main reasons for which the financial crisis has not had a significant
impact on the insurance sector of Republic of Srpska can be allocated
as follows: the structure of premium is dominated by MTPL, lack of
complex products on the market, conservative investment policies
for assets covering technical reserves and low exposure to capital
market. Read
more
 George
KOUTINAS
CEO
KOUTINAS S.A. - Insurance Broker Services, Lloyd's Binding Authority
For the emerging CEE insurance markets, the need for a better portfolio
diversification remains a priority. In this context, KOUTINAS S.A.
- Insurance Broker Services, Lloyd's Binding Authority, offers to
its Romanian counterparts a new business opportunity for a challenging
synergy. We invite you to find out who's your new potential business
partner, in an interview with the company's owner ... Read
more
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| STATISTICS |
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No
spectacular times in the Slovak market
Information-Rating
Agency SAIPRO
