 TOP
NEWS |
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 Business
increased by 9%, but MUNICH Re profit falls by 88% after the
first nine months
by mihai.cracea@mxp.ro, 2011-11-09
Difficult economic conditions in financial markets, great fluctuations
of the major exchange rates and huge natural disasters in the beginning
of the year have left their mark on the results of MUNICH Re. Thus,
the German reinsurance company reported an operating profit of EUR
402 million, down by 88% compared to the same period last year, when
the company made a profit of EUR 3.37 billion. Natural disasters
from the beginning of the year have cost the Germans from MUNICH
Re about EUR 3.6 billion. In the third quarter, the company posted
a profit of EUR 290 million, compared to EUR 761 million in 3Q/2010.
 More
 MONTENEGRO:
Politicians want a national insurer to weigh down the Slovene players
by daniela.ghetu@mxp.ro, 2011-11-09
During a recent session of the Montenegrin Committee for Economy,
Finance and Budget, a representative of the main opposition party,
the Socialist People's Party (SNP), Dragoslav SCEKIC said that Montenegro
should form a national insurance house and prevent the outflow of
money through other insurance companies. In his view, "there
is monopoly in this sector, which is controlled by Slovenian insurance
companies, which is the reason for the outflow of capital".
More  Продолжение
 POLAND:
50% of life GWP provided by the bancassurance arrangements
by daniela.ghetu@mxp.ro, 2011-11-09
The Polish bancassurance market accounted in the first half of 2011
for about EUR 2.07 billion in GWP, according to the first report
on bancassurance activity prepared by the Polish Chamber of Insurance
(PIU). In the case of life insurance companies, bancassurance sales
account for over 50% of written premium. In non-life insurance it
is about 7%. Taking into account the whole insurance market, bancassurance
accounts for almost 35% of written premium.
More Продолжение
 SLOVENIA:
ADRIATIC Slovenica, EUR 17.6 million net profit in 1H/2011
by daniela.ghetu@mxp.ro, 2011-11-03
ADRIATIC Slovenica reported EUR 136.3 million in gross written premiums
and paid out EUR 95.1 million in gross losses in 1H/2011. Net profit
amounted to EUR 17.6 million. "We
have reached our business goals and performed well in the first half
of 2011. In the first quarter, we grew faster than most competitors
and exceeded last year's sales results", states Gabriel SKOF, CEO of the insurance company.
More Продолжение
 VIG
has a new Head of Investor Relations
by vlad.boldijar@mxp.ro, 2011-11-04
Nina HIGATZBERGER takes over the position of the Head of Investor
Relations at the VIENNA INSURANCE Group (VIG) with effect from 1
January 2012 and succeeds Thomas SCHMEE who as of 1 January 2012
will head the Group Controlling Department of the VIG, announced
the Group.
More Продолжение
 AZERBAIJAN:
Capital requirements create problems for market players
by vlad.boldijar@mxp.ro, 2011-11-03
The first Azerbaijani insurance company with difficulties in complying
to the minimum capitalization requirements is THAMES Insurance Group
(TIG), which does not rule out its license withdrawal.
More Продолжение
 SLOVENIA:
EUR 5.2 million profit for MARIBOR in 1H2011
by daniela.ghetu@mxp.ro, 2011-11-01
Zavarovalnica MARIBOR reported EUR 150.7 million in gross premium
written in the first half of 2011, 5% more than in the first half
of 2010. In the same period, it paid EUR 72.8 million claims, while
net profit amounted EUR 5.2 million.
More Продолжение
 UKRAINE:
Agricultural insurance close to return to the 2008 level, without
state support
by daniela.ghetu@mxp.ro, 2011-11-03
Despite the adverse economic conditions, the Ukrainian agricultural
insurance market shows a continuous development, slowly recovering
after the 2009 market shock determined by the cease of the state
subsidies for insurance. According to the International Finance Corporation
(IFC) figures, the amount of collected payments reached UAH 133.5
million, of which during the autumn-winter 2010/2011 season -106.3
million UAH, and in the Spring-Summer 2011 season the remaining UAH
27.2 million.
More Продолжение
 The
underwritings of INGO Group rose by 15.2% in the first nine months
by olesea.serghiescu@mxp.ro, 2011-11-02
According to preliminary data, the volume of gross written premiums
of the 13 insurance companies that are part of the INGO Group totaled,
in the first nine months, RUB 59.0 billion or EUR 1.4 billion, up
by 15.2 % compared to the same period in 2010; at the same time,
claims paid by insurers increased by 3.4%, to RUB 38.9 billion (EUR
919.6 million).
More Продолжение
 ACE
and CHUBB lead the new Environmental Liability Consortium
by andreea.ionete@mxp.ro, 2011-11-09
LLOYD's has just announced the launch of the Environmental Liability
Consortium at LLOYD's which has been created to meet the demand for
higher levels of environment impairment liability coverage (EIL)
and to provide, within the LLOYD's environment, a unique facility
for syndicates and brokers for this class of insurance.
More Продолжение
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| FINANCIAL
NEWS |
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HUNGARY:
2012 GDP forecast lowered to 0.9%
by daniela.ghetu@mxp.ro, 2011-11-10
Hungary's government decided on November 9th to lower its initial
economic growth forecast for 2012, of 1.5%, to 0.9%. According to
Hungarian financial press, the downward adjustment means that previously
announced fiscal adjustment measures will need an additional HUF
250 billion package in order to meet the deficit target. This would
total an adjustment of about HUF 1,600 billion.
FITCH:
Italian insurers cannot pass on all sovereign losses
by daniela.ghetu@mxp.ro, 2011-11-10
Contrary to what many commentators are predicting, Italian insurers
may not be able to pass on most of the losses incurred from an unlikely
default of Italian government debt, FitchRating says.
S&P:
Republic of Kazakhstan FC Ratings Raised To 'BBB+/A-2'; LC Affirmed;
Outlook Stable
by daniela.ghetu@mxp.ro, 2011-11-10
Standard & Poor's Ratings Services said on
Nov.7th that it raised its long- and short-term foreign currency
sovereign credit ratings on the Republic of Kazakhstan to 'BBB+/A-2'
from 'BBB/A-3'. The agency affirmed the local currency ratings at
'BBB+/A-2'. The outlook is stable. At the same time, S&P's affirmed the 'KzAAA' national scale rating on Kazakhstan. The 'BBB+' transfer
and convertibility assessment remains unchanged. |
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| EDITORIAL |
|
 Get
and share - it's easy!
Information is the most powerful tool ... if relevant, consistent
and ... right on time.
Keeping this in mind, we thought that two weeks can sometimes be
a too long time for you to get in touch with the novelties of the
most dynamic markets in the CEE and CIS countries. Also, a by-annual
pace for updating market statistics might be too slow when it comes
about the emerging markets. Read
more
daniela.ghetu@mxp.ro
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| POINT
OF VIEW |
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 Tomaz
MANCINI B.Sc.
Head of the Statistical Analysis and Information Technology
Service
Slovenian Insurance Association
"We are going through a period of stagnation in comparison with the
market growth during previous years. Still, we can say that our insurance industry
is in quite good condition and a further growing of the total gross premiums
written by modest rates, of 1.5-2% is predictable for 2011". Read more
 Andrey
VESELKOV
General Director
Media-Information Group
"Insurance
Today"
Russian Federation
"For the development of the market, the greatest influences were
the significant increase in car sales, the revival of the construction market,
increasing trade and goods transportation. As a result, the market grew, and
grew significantly in almost all segments". Read more
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| EVENTS |
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Brainstorming for Bancassurers
 Knowing
that Insurance Distribution remains a main concern for both insurance
companies and banks; challenged by regulations and changing customer
demand, Fleming Europe has decided to open the Bancassurance Forum
for the 5th time on 15-16 February 2012 in Barcelona.
The 5th
Annual Bancassurance Forum will introduce the 2012 challenges such as modifying pension & Life products with their eventual complex presentation to the customer. Bancassurers
will learn how to manage geographical differences between distribution
strategies. The pressing question "What are the drivers of future growth in Bancassurance?" will be addressed! For program information request agenda. Read more
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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 Mariana
DIACONESCU
President
ASIROM VIG
Romania
"The Romanian insurance market is closely linked to the overall
economic evolution, and in 2009 we felt even more acutely the effects of the
crisis begun in 2008 in the insurance market, by the decreasing volume of gross
written premiums and by the decreasing number of clients". Read more
 Alexandr
ZALETOV
Deputy Chairman of the Council of the LIOU
Editor in Chief Insurance TOP Magazine
Ukraine
"High growth rates registered in industry and constructions, together
with gradual increase of other economic activities have led to a positive evolution
of the insurance market. For example, property insurance industry recorded an
excellent upward dynamic". Read more
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| STATISTICS |
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