 XPRIMM
POLL |
|
 Many
insurance professionals believe that in 2012 we will witness a
market trend reversal in what the MTPL rates are concerned, as
motor lines’ profitability already became a touch stone for the
industry. In your opinion, what should one expect in 2012 with
regard to the MTPL tariffs in the CEE countries?
- Price war will continue, with strong impact
on profitability
- MTPL prices will remain quasi stable
- There will be timid signs of MTPL rates' increase
- Mixed evolution across the region, with a dominant trend of increasing
MTPL tariffs
- Definitely, MTPL tariffs will visible climb up
Cast
your vote.
Add
a comment.
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| TOP
NEWS |
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 Unit-Linked
plays the leading role in the CEE life insurance market
by daniela.ghetu@mxp.ro, 2012-02-08
Life insurance products linked to investment funds (usually known
as Unit-Linked life insurance) seem to be more and more popular in
the CEE region. According to the 3Q2011 data available, the y-o-y
nominal growth rate calculated in Euro for this line of life insurance
products was of 11.73%, showing a significantly better dynamic than
the entire life insurance segment which recorded a slightly negative
trend. Calculations made by xprimm.com in local currency demonstrate
the same trend, only "translated" in
positive figures, as UL insurance GWP grew by about 18.5%, while
the entire life insurance segment recorded some 4.3% growth. As a
result, UL life insurance line represents now a roughly 40% share
of the entire CEE life market.
 More
 EIOPA:
Increased significance of the comparison websites; closer attention
needed to consumer protection
by daniela.ghetu@mxp.ro, 2012-02-07
"Commercial insurance comparison websites have gained increased significance
over the past few years. These websites are an increasingly used means of communication
or distribution channel that enhance comparability of information for consumers.
Therefore, they have helped to stimulate more competition between insurers and
intermediaries" says the most recent report released by the European Insurance and Occupational
Pensions Authority, "EIOPA's Initial Overview of Key Consumer Trends in the EU".
More  Продолжение
 CZECH
Rep: Dropping motor insurance prices cast the market in negative
territory
by daniela.ghetu@mxp.ro, 2012-02-10
After succeeding to surpass the crisis' peak without leaving the
positive territory, the Czech insurance market ended its 2011 "in
red", for the first time after many years of growth. According to the statistics
recently published by CAP (Czech Insurers Association), its member
companies, accounting for a 98% share of the domestic market, collected
Kc116.3 billion in premium, which is a 0.3% lower figure than in
2010. In European currency, the GPW volume reached EUR 4.51 billion,
3.15% down as compared to 2010, being also negatively impacted by
the 3% y-o-y depreciation of the Czech Kroon's exchange rate.
More Продолжение
 CROATIA:
2011, another year of crisis for insurance business
by vlad.boldijar@mxp.ro, 2012-02-10
In 2011 insurance companies operating in Croatia recorded GWP of
HRK 9.14 billion (EUR 1.21 billion), 1.08% less compared with 2010,
according to financial data published by Croatian Insurance Bureau
(HUO). In absolute values, out of a HRK 100.3 million decrease, HRK
73.8 million related to non-life insurance, while the HRK 26.5 million
decrease related to life assurance.
More Продолжение
 ALBANIA,
FY2011: GWP over the EUR 60 million threshold
by vlad.boldijar@mxp.ro, 2012-02-10
Albania's insurance market grew in local currency 2.3% in 2011 compared
to the previous year (excluding reinsurance written premiums), according
to data published by Albania's Financial Supervisory Authority (AFSA).
In European currency, insurance premium revenues were about EUR 60.01
million. At the same time, the number of insurance contracts was
of 1,306,602, up by 77.5% compared with year 2010.
More Продолжение
 KAZAKHSTAN,
2011: The market entered "the first billion euro" area
by vlad.boldijar@mxp.ro, 2012-02-10
In 2011, the gross premiums written by the 38 insurance companies
in Kazakhstan increased in local currency by 29.32%, reaching KZT
198.50 billion (EUR 1.04 billion), compared to KZT 153.50 billion
(EUR 786.24 million) in 2010. Claims paid by insurers amounted to
KZT 46.14 billion (EUR 241 million) according to official data published
by the Supervisory Commission of Financial Markets.
More Продолжение
 AZERBAIJAN:
Mandatory lines drove insurance market up 37% in 2011
by daniela.ghetu@mxp.ro, 2012-02-10
Azerbaijan-based insurance companies posted in 2011 an impressive
double digit nominal y-o-y growth rate of 37%. Denominated in European
currency, the 2011 GWP figures show even a higher dynamic, of 42%,
due to an almost 4% strengthening of the Azeri currency, Manat (AZN).
Thus, the GWP volume reached EUR 209.26 million, of which a share
of about 26% comes from the mandatory insurance lines, including
MTPL.
More Продолжение
 MOLDOVA:
Insurance market exceeds MDL one billion
by vlad.boldijar@mxp.ro, 2012-02-13
MDL one billion (EUR 61.4 million) wrote in premiums the Moldavian
insurers in 2011, 9.7% more than a year earlier, according to the
preliminary financial data centralized by the National Commission
of Financial Market (NCFM). Claims reached MDL 334 million (EUR 20.45
million), a 3.5% increase in comparison to 2010.
More Продолжение
 SLOVENIA:
Over EUR 6 million in claims after the February hurricane strength "bora"
by daniela.ghetu@mxp.ro, 2012-02-14
The hurricane force icy "bora" wind
which affected the Slovenian littoral during the first days of February
caused more than EUR 6 million of damage, according to Slovenian
insurers' first estimates. Most damage was caused to the roofing
and buildings. Insurance companies have already received around 1,000
claims, especially related to the windstorm damages in Gorizia, Vipava,
Karst and Inner areas.
More Продолжение
 RUSSIA:
New law concerning periodical technical inspection creates tension
on the insurance market
by olesea.serghiescu@mxp.ro, 2012-02-14
Beginning of 2012 was defined by several conflicts between insurance
companies as a result of new law on periodical technical inspection
of vehicles (PTI), wich was approved in June, 2011 and entered into
force on January, 2012.
More Продолжение
 MUNICH
Re: "We have never experienced a year like 2011 before"
by vlad.boldijar@mxp.ro, 2012-02-03
MUNICH Re's preliminary figures show a profit of EUR 0.71 billion
for 2011, down 70% on the EUR 2.4 billion profit it made in 2010
due to "a
series of severe earthquakes and many weather-related catastrophes", reported this week the reinsurance group. Thus Munich Re estimates its claims
costs from the earthquakes in Japan and New Zealand at around EUR
1.5 billion for each event.
More Продолжение
 INGOSSTRAKH
leaves Finnish market
by olesea.serghiescu@mxp.ro, 2012-02-13
Russian insurance company INGOSSTRAKH has sold the portfolio of its
Finnish subsidiary (IngoNord), to DARAG Deutsche Versicherungs- und
Ruckversicherungs-AG (Germany), announced the group last week. The
price of the transaction was not disclosed.
More Продолжение
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| FINANCIAL
NEWS |
|
2012
Aon's Political Risk Map: 2 upgrades and 3 downgrades for the
CEE&CIS countries
by daniela.ghetu@mxp.ro, 2012-02-14
In the CEE and CIS regions, Republic of Moldova and Ukraine's political
risk lowered, while Azerbaijan, Belarus, Croatia are bearing a higher
political risk as compared to 2011, according the 2012 Aon Political
Risk Map. Although EU and OECD member states were not rated in the
2012 edition of the map, Romania and Bulgaria were still taken into
consideration and assigned a Low-Risk rate.
Weak
demand for Hungarian bonds at February 9th auctions
by daniela.ghetu@mxp.ro, 2012-02-10
Hungary's Government Debt Management Agency (AKK) has received HUF
62.2 billion worth of bids from primary dealers on a HUF 43 bn lot
of bonds and in response to the muted demand it sold only HUF 40
bn worth of debt at auctions on Thursday, February 9th. The average
yields were set close to yesterday's benchmark fixings, while they
were considerably below the average yields at the previous bond auctions
a fortnight ago thanks to the marked drop in yields during this period.
Polish
T-bonds best in world - Bloomberg
by daniela.ghetu@mxp.ro, 2012-02-10
Polish T-bonds offer the best yields weighted by risk in Europe,
according to a report published by Bloomberg agency. |
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| EDITORIAL |
|
 Icy
roads heat up the pricing dilemma
Two major car crashes, involving about 100 damaged cars, that occurred
on Wednesday, on the Czech highways are making the headlines all
around the world, together with the dramatic summing-up of the victims
produced by the heavy winter in Eastern Europe. Read
more
daniela.ghetu@mxp.ro
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| INTERVIEW |
|
 Ladislav
BARTONICEK
CEO of GENERALI PPF Holding, Chairman of the Board of CESKA pojistovna,
Chairman of Czech Insurance Association
Even though the volume of premium written in life insurance has been
rising, insurance companies face several significant negative factors
- long-term decline in the number of active policies, growing lapse
rates and speculative rework of policies by some unreliable insurance
intermediaries. Also the amount of insurance fraud is growing at
this time of economic difficulties, by tens of percent. However,
neither of these cases are the specifics of the Czech market, we
can observe similar trend in other CEE countries. Read
more
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| STATISTIC
UPDATES |
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| EVENTS |
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Motor insurance
in emerging markets - is the price war over?
What do car owners want from their insurer: cheap
policies, extended coverage, additional services, big compensations
for bodily injuries, fast payment of claims? And what can they really
get?
Where is the right balance between satisfying as much of the clients'
needs and a sound underwriting in motor insurance? For how much accounts
in this equation dealing with trans-border claims, considering not
only the possible regulatory differences but also the cultural ones?
Media XPRIMM and Istanbul Underwriting Center invite you to find
the right answers and share your views with a group of reputed professionals
on the occasion of the IIF
2012.
See you in Istanbul!
More Продолжение
International Conference Insurance in Central
Asia
March 15-16, 2012
Alma-Ata, Kazakhstan
Organizer: InterConsult
Media Partner: PRIMM Insurance & Pensions
Magazine
For details: www.wfin.kz
XVI All-Russian Reinsurance Conference
March 22-23, 2012
Moscow, Russia
Organizer: Reinsurance Committee
of the All-Russian Insurance Association and Delovoy Format Group.
Media Partner: PRIMM Magazine
- Insurance & Pensions
For details: www.re-conference.ru
Tashkent International Investment Financial Forum
April 4-8, 2012
Tashkent, Uzbekistan
Organizer: SAIPRO
Media Partner: PRIMM Insurance & Pensions
Magazine
For details: www.saipro.uz
FIAR 2012 - International Insurance-Reinsurance
Forum
May 20-24, 2012
Sinaia, Romania
Organizer: Media XPRIMM
For details: www.fiar.ro
Kuwait Insurance Forum 2012
May 29-30, 2012
Radisson Blu Hotel, Kuwait City
Organizer: ProMedia International
Media Partner: xprimm.com
For details: www.promediakw.com
WorldPensionSummit 2012
November 14-16, 2012
Amsterdam, Olanda
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com
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| POINT
OF VIEW |
|
 Florina
VIZINTEANU
President
BCR Asigurari de Viata VIG
Romania
Weren't for the crisis, we would have probably talked today of double
digit growths, and by double digit I don't mean 12%, I mean around
20%, values similar to the growths registered before 2008. Taking
into account the special context we find ourselves in today, of course
we talk about modest growths compared to what could have been if
not for the economic global crisis. Read
more
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| STATISTICS |
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