 TOP
NEWS |
|
 CEA
rebranded to INSURANCE EUROPE
by vlad.boldijar@mxp.ro, 2012-03-01
Starting March 1st, 2012, CEA, the European insurance and reinsurance
federation, is changing its name to INSURANCE EUROPE. "Today
we are unveiling a fresh, new image that reflects the dynamism and
importance of the industry we represent", declared Sergio BALBINOT, President of INSURANCE EUROPE.
 More  Продолжение
 CSA:
Life and household insurance slowed down the decrease of the insurance
market to 4.3% in 2011
by andreea.ionete@mxp.ro, 2012-03-01
The Romanian insurance market reached over RON 7.9 billion last year,
a level which indicates a nominal decrease of 4.3% compared to RON
8.3 billion underwritings in 2010, according to preliminary results
published by The Insurance Supervisory Commission (CSA). At the end
of 2010, the insurance market posted a nominal underwritings decrease
of 6.36% compared to 2009. Life and household insurance were the
most dynamic segments of the market and they managed to slow down
the decrease of the total gross written premiums.
More Продолжение
 AXA
2011 net income up 49%
by vlad.boldijar@mxp.ro, 2012-02-17
In 2011, net income of AXA Group was up 49% to EUR 4.32 billion. "FY10
net income included EUR -1,64 billion exceptional loss related to
the partial sale of the UK Life operations, while FY11 net income
included EUR -943 million goodwill reduction attributable to US Accumulator
Variable Annuity book of business following the fall in US long term
interest rates as well as the reduction in lapses, and EUR +2.33
billion exceptional realized gains related to the sale of Australian
and New Zealand operations, Canadian operations and the stake in
TAIKANG Life", announced the group.
More Продолжение
 ALLIANZ
net income down 46% for 2011
by vlad.boldijar@mxp.ro, 2012-02-24
In 2011 ALLIANZ Group recorded total revenues of EUR 103.6 billion,
down 2.7% compared to 2010 (EUR 106.5 billion). At the same time,
net income for 2011 was EUR 2.8 billion, compared to EUR 5.2 billion
the year before. "The
decline of 46.2% was mainly due to very conservative non-operating
impairments of EUR 1.9 billion from Greek sovereign debt and investments,
particularly in financials", announced the group. The 2011 operating profit amounted to EUR 7.9 billion.
Compared to the 2010 operating profit of EUR 8.2 billion, this is
a decrease of 4.6% "in the target range of EUR 8.0 billion, plus/minus EUR 0.5 billion".
More Продолжение
 HUNGARY,
FY2011: Insurance market remains on the downward track
by daniela.ghetu@mxp.ro, 2012-02-24
The Hungarian insurance market is one of the latest in the CEE region
still having a rough time as a result of the austerity measures undertaken
by the government in its attempt to balance de country's deficit.
Insurers' combined revenue from premiums edged down an inflation-adjusted
2.7% to HUF 821 billion in 2011, according to the Hungarian Insurers
Association (MABISZ). In nominal terms, the market saw a 0.38% growth.
Denominated in European currency, 2011 figures are showing an even
more worrying picture, with a 10% drop in GWP, to EUR 2.64 billion,
following the almost 12% y-o-y depreciation of the Hungarian forint
exchange rate. All in all, the number of policies fell by 60,000
units, to 11 million, MABISZ said.
More Продолжение
 BELARUS,
FY2011: Insurance market shocked by BYR "hyper-devaluation"
by vlad.boldijar@mxp.ro, 2012-02-24
According to results published by The Belarusian Association of Insurers,
in 2011, total premiums in the insurance market rose in local currency
by 76% year-on-year to BYR 2,362 billion. In European currency, due
the devaluation of BYR in relation to EUR, the insurance market did
not show growth in terms of written premiums: EUR 219 million, representing
a decrease of 35%.
More Продолжение
 BiH,
FY2011: Life insurance gain momentum in "Austrian" style
by daniela.ghetu@mxp.ro, 2012-02-24
The Bosnian insurance market finished 2011 with a positive GWP growth
rate, of 3.4%, up to EUR 249.5 million. Insurers domiciled in Srpska
Republic (RS) managed to place an aggregated growth rate of 7.12%,
up to EUR 67.15 million GWP, while their peers registered in Federation
of Bosnia & Herzegovina
reported a 2.1% positive change of the written premium volume, to
EUR 182.4 million. Consequently, RS insurers' weight in the overall
Bosnian insurance market grew by about 1 percentage point, to almost
27%.
More Продолжение
 MONTENEGRO,
FY2011: MTPL still dominant but growing competition on life
by vlad.boldijar@mxp.ro, 2012-02-24
Gross premium written on the insurance market of Montenegro in 2011
amounted to EUR 65.3 million, which represents a growth of 5.4% comparing
to 2010, when it amounted to EUR 62 million, according to preliminary
data published by Insurance Supervision Agency. At the same time,
gross premium per capita in 2011 amounted to almost 99 euro.
More Продолжение
 LITHUANIA,
FY2011: Insurance market grew driven by non-life
by vlad.boldijar@mxp.ro, 2012-02-24
Last year was a successful one to the insurance market as its growth
rate almost doubled compared with the national economy. In 2011,
the amount of written premiums reached as high as LTL 1.7 billion,
a year-on-year rise of 9.5%. The number of insurance contracts surged
in 2011 by 3.3% to LTL 4.9 million. The premium amount paid out last
year by domestic insurers saw an increase of 15.5% compared with
the year before last year.
More Продолжение
 POLAND:
PZU is ready for shopping across Europe
by daniela.ghetu@mxp.ro, 2012-02-22
PZU, Poland's and also CEE's region top insurer, is in talks with
private equity firms to set up a PLN 13 billion (~ EUR 3.1 billion)
investment vehicle for foreign acquisitions, recently stated Andrzej
KLESYK, CEO of Polish insurer for Rzeczpospolita daily. PZU wants
to establish PZU International this year and start looking around
Europe for some interesting acquisitions. For the time being, PZU
operates out of Poland only in Ukraine and Lithuania.
More Продолжение
 Leading
Croatian insurer, CROATIA Osiguranje, for sale
by daniela.ghetu@mxp.ro, 2012-02-20
Croatia plans to sell a majority stake in leading insurer CROATIA
OSIGURANJE in a public tender, Finance Minister Slavko LINIC said
on February 13th. Also stake in a local bank will be privatised,
as the Government moves to slash the budget gap this year, according
Reuters.
More Продолжение
 SWISS
Re reports strong net income of USD 2.6 billion for 2011
by mihai.cracea@mxp.ro, 2012-02-24
Reinsurance Group SWISS Re reports strong net income of USD 2.6 billion
for the full-year 2011 "despite
an exceptional natural catastrophe burden", announced the company.
More Продолжение
 SLOVAKIA:
GENERALI recorded more than 100,000 insurance claims in 2011
by vlad.boldijar@mxp.ro, 2012-02-28
GENERALI Slovensko recorded more than 100,000 insurance claims for
2011, of which almost 40 % comprised damage in motor insurance. The
total paid indemnity accounted for almost EUR 102 million, announced
GENERALI PPF Holding.
More Продолжение
|
| FINANCIAL
NEWS |
|
CEE-7
countries' fiscal balaces will improve in 2012; Hungary still
in a fragile position
by daniela.ghetu@mxp.ro, 2012-03-01
The central governments of the larger Central and Eastern European
(CEE) countries will need to borrow EUR 94 billion in 2012 to finance
deficits and roll over existing debt, equivalent to an estimated
10% of their combined GDP, forecasts FITCH in a recent report published
by the agency. This puts CEE-7 countries (Croatia, Czech Republic,
Hungary, Poland, Romania, Slovakia, Slovenia) on a par with their
peers in the eurozone's healthy core.
FITCH
Affirms Poland at 'A-'; Stable
by daniela.ghetu@mxp.ro, 2012-03-01
FITCH Ratings has affirmed Poland's Long-term foreign currency Issuer
Default Rating (IDR) at 'A-', and its Long-term local currency IDR
at 'A'. The Outlook on both ratings is Stable. FITCH has simultaneously
affirmed Poland's Short-term rating of 'F2' and Country Ceiling of
'AA-'. |
|
| EDITORIAL |
|
 SPRING
it on!
Starting today, it is officially Spring!
Even if in some mornings one may still find a thin layer of snow
covering the street, winter has lost its power. Nature is ready for
a fresh start. Writing from here, in Romania, in the first day of
spring, we would like to send you a sign of friendship and also a
symbol for "Good
luck!" which is traditionally offered in the first day of March, a "Martisor". It may bring you the much needed good humor for a new beginning. Read more
daniela.ghetu@mxp.ro
|
| INTERVIEW |
|
 Constantin
BUZOIANU
President
The Insurance Supervisory Commission
The CSA's main directions of action are the stability of the insurance
industry and the protection of all insured clients. I believe these
must represent the major objectives pursued by all entities working
in this industry - insurers, intermediaries, professional organizations.
Only by making significant progress towards these directions that
depend upon one another we can help this industry grow and mature. Read
more
|
| STATISTIC
UPDATES |
|
|
|
| EVENTS |
|
|
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
|
| POINT
OF VIEW |
|
 Mag.
Zvonko IVANUSIC
Chairman of the Management Board
SAVA Re
Over the past few years, SAVA Re was focused on geographical diversification
of the Risk and in 2011, CEE represented 19% of SAVA Re foreign reinsurance
portfolio (ex. domestic market). Excluding the Slovenian subsidiary
(TILIA Insurance Co.) and the SAVA Reinsurance Co., the subsidiaries
from ex-YU contribute 22 % to the consolidated premium portfolio. Read
more
|
| STATISTICS |
|
|
|
