 TOP
NEWS |
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 UNIQA: "Greek
write-down" and the inner restructuring process cut down EUR 181 million from the 3Q profit
by vlad.boldijar@mxp.ro, 2011-11-24
The UNIQA Group's profit on ordinary fell to EUR -181 million at
the end of September due to significant one-off effects of write-downs
of Greek government bonds and investments in the restructuring of
the group. "As
announced, these one-off effects will also negatively influence the
annual result for 2011, which will be between EUR -250 million and
EUR -300 million", announced today the Austrian insurance group.
 More  Продолжение
 VIG
reports 4% increase in gross written premiums
by vlad.boldijar@mxp.ro, 2011-11-15
In the first three quarters of the current year, VIENNA INSURANCE
Group increased its premiums written by 4.0% to a total of EUR 6.8
billion, compared to the same period of the previous year. The Group
gross profit went up by 9.6% to a total of EUR 414.1 million. The
combined ratio of the Group amounted to 97.2%, after 98.2% in the
respective period of the previous year.
More Продолжение
 Q3
2011: Despite the crisis ALLIANZ maintained revenues at a high level
by vlad.boldijar@mxp.ro, mihai.cracea@mxp.ro,
2011-11-16
In the third quarter of 2011, ALLIANZ Group recorded total revenues of EUR 24.1
billion, coming just 1.8% below the level from the third quarter of last year. "Operating
profit of EUR 1.91 billion was off by 7.3% compared to the year before but remains
on target. The decline in the result was largely due to lower investment results
in Life and Health insurance compared to 2010. In Property and Casualty insurance
operating profit remained stable, while Asset Management continued its successful
path and again increased its operating profit", according to the group.
More
 GENERALI:
3Q 2011 premiums are down 4.6%
by vlad.boldijar@mxp.ro, 2011-11-14
In the first nine months of 2011, GENERALI Group registered gross
written premiums of EUR 51.33 billion, -4.6% compared to January-September
2010. The non-life business contributed to this result with premiums
totaling EUR 16.94 billion (+2.3%). In the life segment, the Group
continued to guide production towards products with larger margins
and a higher return on invested capital. Premiums amounted to EUR
34.39 billion (-7.7%) with growth in annual premiums (+5%).
More Продолжение
 PZU:
5.8% higher premium volume and steady profitability in 3Q2011
by daniela.ghetu@mxp.ro, 2011-11-15
Gross written premium of PZU Group's in 3Q2011 amounted PLN 11.42 billion (aprox.
EUR 2.59 billion), 5.8% up as compared to 3Q2010. The main sources of growth
were the property insurance segment of the Mass Client division and the life
insurance segment, mainly in group insurance and to a lesser extent in individual
insurance. In terms of profitability, PZU Group's net financial result for 3Q2011
was of PLN 1.86 billion (about EUR 422 million), 0.9% lower than in the same
period of the previous year. 98% of the Groups' GWP comes from the Polish insurance
subsidiaries.
More Продолжение
 ING
Insurance Group (3Q 2011): Operating results in increase
by vlad.boldijar@mxp.ro, 2011-11-11
In January-September 2011, the total underlying income from the insurance
operations increased to EUR 30.25 billion from EUR 28.90 billion
in the same period of 2010. At the same time, the gross premium income
of ING Insurance decreased by EUR 764 million to EUR 20.74 billion
in the first nine months of 2011, from EUR 21.50 billion in the same
period last year, announced the company. There were decreases of
gross premium income in Benelux (EUR 250 million) and US (EUR 622
million), and increases in Asia (EUR 281 million) and Central & Rest
of Europe (EUR 87 million).
More Продолжение
 Radu
MUSTATEA steps down as head of ASTRA Asigurari from January 1, 2012.
The leadership will be taken over by Alexander ADAMESCU
by alex.tanase@mxp.ro, 2011-11-24
Radu MUSTATEA, President of ASTRA Asigurari, the leading insurer on the Romanian
market, is stepping down, the company said on Monday in a press release. The
management of the company will be taken over by Alexander ADAMESCU, currently
Vice President of the Supervisory Board of ASTRA. Radu MUSTATEA decided not to
renew his term mandate of five years ending at the beginning of 2012, in order
to pursue some personal projects.
More Продолжение
 MACEDONIA:
membership in EUROPA Re subjected to the Parliament approval
by daniela.ghetu@mxp.ro, 2011-11-16
The Government of the Republic of Macedonia will lend USD 5 million
from the World Bank in order to acquire a 19.89 % stake in EUROPA
Re, a catastrophe risk reinsurance company in the process of formation
owned by countries of Southeast Europe and Caucasus.
More Продолжение
 KBC
Group: Greece has impacted the 3Q results
by vlad.boldijar@mxp.ro, 2011-11-11
KBC Group ended the third quarter of 2011 with an underlying net result of EUR
-248 million but excluding one-off items induced by the prevailing and exceptional
market circumstances, the net result would have amounted to EUR 222 million.
This compares with EUR 528 million in 2Q 2011 and EUR 445 million in 3Q2010. "The
underlying result for the first nine months of 2011 amounted to EUR 937 million,
compared to EUR 1,542 million for the corresponding period in 2010", according to the earnings statement published by the company.
More Продолжение
 Czech
Republic and Romania joined the Protocol on insurance fraud prevention
by daniela.ghetu@mxp.ro, 2011-11-24
Insurer Associations of Czech Republic and Romania joined the interstate
Protocol on insurance fraud prevention, a HUO press release announced
on November 20th.
More Продолжение
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| FINANCIAL
NEWS |
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RZB:
80% of CEE banking assets in six high growth markets
by daniela.ghetu@mxp.ro, 2011-11-21
The medium-to longer-term outlook for banking sector growth remains
very favourable in at least six CEE markets, a group that includes
some of the region's largest economies: Russia, Poland, the Czech
Republic, Romania, Slovakia and Albania are likely to remain high
growth markets in which nominal loan and asset growth is likely to
clearly outpace nominal GDP growth going forward.
Polish
authorities taken by surprise by the Moody's outlook downgrade for
Poland's banking system
by daniela.ghetu@mxp.ro, 2011-11-21
The outlook on Poland's banking system has been changed to negative
from stable, reflecting the expectation that the banks' operating
environment will deteriorate, said Moody's Investors Service in a
Banking System Outlook published on November 15th.
POLAND
announces tough reforms, but rating agencies are not yet convinced
by daniela.ghetu@mxp.ro, 2011-11-21
After Polish Prime Minister Donald TUSK set out a program of tough
reforms, in his Friday policy speech, the coalition of his centre-right
Civic Platform and the agrarian Polish People's Party won a vote
of confidence from Parliament's lower chamber on Sunday, November
20th. According TUSK, Poland will focus pending policy initiatives
on tax policy, fiscal policy and pension reform as it focuses its
efforts on areas it believes can insulate Poland from the global
financial crisis to build Poland's position in Europe.
OECD:
Reform urgently needed to ensure long-term growth in Czech Republic
by daniela.ghetu@mxp.ro, 2011-11-21
With the Czech economy's export-driven recovery slowing, swift implementation
of new reforms is needed to ensure sustainable, inclusive long-term
growth and better resilience to external shocks, according to the
OECD's latest Economic Survey of the Czech Republic. |
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| EDITORIAL |
|
 Looking
for a new horizon?
During the last weeks, almost all major re/insurance groups published
their 3Q results. Of course, we are mostly interested in how the
CEE and CIS countries have contributed to these results, considering
names as ALLIANZ, GENERALI, ING, KBC, PZU, VIG, UNIQA are usually
placed in top positions of the regional charts. Read
more
daniela.ghetu@mxp.ro
|
| INTERVIEW |
|
 Matjaz
RAKOVEC
President of the Management Board
Zavarovalnica TRIGLAV
TRIGLAV was able to turn losses into profits by making the insurance
core business its top priority, in combination with a strict risk
management policy, appropriate risk assumption levels and effective
reinsurance policy. Operating costs have been cut and the reductions
will continue. Going forward, TRIGLAV wishes to provide value for
money for its clients and, as a result, we are constantly developing
new products and services. With our new corporate slogan "EVERYTHING
WILL BE ALL RIGHT" we are assuming great responsibility, fully prepared to match these words with
deeds. Read more
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| LAST
STATISTIC UPDATES |
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| EVENTS |
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November Business Meetings of Reinsurers
 The
event offers the unique opportunity to strengthen and develop the
business relations with partners from Russia, CIS and other foreign
countries.
Basically, NBM crowns the departing year, summarizing up its results
and laying down a foundation for success in the year to come.
The last (2010) year November Business Meetings brought together
440 participants and guests representing 139 companies from 23 countries:
Armenia, Azerbaijan, Bahrain, Belarus, Great Britain, Germany, Jordan,
India, Kazakhstan, Cyprus, Latvia, Malaysia, Moldova, Norway, Poland,
Russia, Slovenia, USA, Ukraine, Uzbekistan, France, Czech Republic,
Switzerland. Read
more
November Business Meetings of Reinsurers
November 29th-30th, 2011
Business Center Amber Plaza, Moscow
Organizers: All-Russian Insurance
Association (ARIA) and DELOVOY Format Group
Media Partner: PRIMM Insurance & Pensions
Magazine
For details: www.nbm-moscow.ru
5th Annual Bancassurance Forum
February 15-16, 2012
Barcelona, Spain
Organizer: Fleming Europe
Media Partner: PRIMM Insurance & Pensions
Magazine
15%
discount for PRIMM Readers
For details: www.finance.flemingeurope.com
International Insurance Forum 2012
March 5th-6th, 2012
Istanbul, Turkey
Organizer: Media XPRIMM and
Istanbul Underwriting Center
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| POINT
OF VIEW |
|
 Alberto
CORINTI
Director
PROMONTORY Financial Group
Alberto CORINTI, Director at PROMONTORY Financial Group, formerly
of the CEA and the Committee of European Insurance and Occupational
Pension Supervisors spoke to Insurance Insight's Francesca NYMAN,
giving a regulator's perspective on the biggest challenges facing
the European Insurance industry at the moment. Read
more
 Andranik
OHANJANYAN
Director
Insurance Market Association of Armenia
A recent survey shows that about 95% of people affected by car accidents
the are satisfied with the mandatory MTPL insurance system. I believe
this is the most valuable assessment of our activities. We'll continue
our efforts to improve the system and show high growth rates. Read
more
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| STATISTICS |
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