 TOP
NEWS |
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 FIAR
2012 - The last two days for the SPECIAL OFFER
by andreea.ionete@mxp.ro, 2012-03-15
Friday, March 16th, is the last day in which you can benefit from
the DISCOUNTED REGISTRATION FEE of EUR 1,200 for FIAR 2012 - The
International Insurance-Reinsurance Forum (May, 20th - 24th).
 More  Продолжение
 Romania:
Mediated premiums exceeded RON 3.1 billion in 2011, down by 3%
by andreea.ionete@mxp.ro, 2012-03-09
The value of premiums mediated by insurance brokers last year exceeded
RON 3.1 billion, according to data sent to the Romanian Insurance
Supervisory Commission (ISC) by 495 organizations, a 2.99% decrease
compared to 2010, when the volume reached RON 3.2 billion. By comparing
mediated premiums to the total underwritings volume, in 2011, brokers
made up 39.05% of the total RON 7.9 billion gross written premiums,
a slight increase compared to the 38.5% level in 2010.
More Продолжение
 EUR
3.5 billion - the value of claims for insured houses in Romania in
case of an earthquake similar to that in 1977
by oleg.doronceanu@mxp.ro, 2012-03-09
The claims for the houses presently insured in Romania would reach
EUR 3.5 billion in case of an earthquake similar to the one in 1977,
according to a study implemented by PAID - The Romanian Natural Disaster
Insurance Pool together with an international broker.
More Продолжение
 Today
starts the 6th International Conference "Insurance in Central Asia"
by olesea.serghiescu@mxp.ro, 2012-03-15
During two days, between 15th and 16th of March 2012 in Almaty, Kazakhstan
will take place The 6th International Conference "Insurance
in Central Asia", which has become a tradition for leaders in insurance and reinsurance in Central
Asia, CIS countries and Central and Eastern Europe. PRIMM Insurance & Pensions Magazine supports the event as Media Partner.
More Продолжение
 POLAND
joined in 2011 "the game" of currency devaluation
by vlad.boldijar@mxp.ro, 2012-03-15
Analyzing the market figures of 2011, recently published by the Polish
Financial Supervision Authority (KNF), very good results have been
reported in PLN by both life and non-life segments regarding the
volume of gross written premiums. The Polish insurers operating last
year collected PLN 57.15 billion. This result was 5.5% better than
the year before. In European currency, due the devaluation of PLN
in relation to EUR, the insurance market did not show growth in terms
of written premiums: EUR 12.9 billion, representing a decrease of
5.4%.
More Продолжение
 ESTONIA,
FY 2011: Again "in the red" after joining the Euro zone
by vlad.boldijar@mxp.ro, 2012-03-15
Maybe it has nothing in common, but after joining the Euro zone in
2011, as its 17th member, the Estonian insurance market re-entered
on a descend path, with its GWP volume dropping by 6% in comparison
with the previous year. In 2010, Estonian insurers managed to place
a positive result, with a 16% growth in GWP, a quite impressive result
following to 1.3% decrease registered in 2009. On the claims side,
Estonian insurers paid EUR 269.4 million in 2011.
More Продолжение
 HUNGARY,
FY2011: PSZAF confirmed that the insurance market is in recession
by vlad.boldijar@mxp.ro, 2012-03-15
Hungary's insurance market suffered a decline in HUF by 3.3% in 2011,
according to Hungarian Financial Supervision Authority (PSZAF). In
European currency, the decrease was, due the devaluation of HUF,
13.3% to EUR 2.62 billion, confirming the figures published last
month by the Association of Hungarian Insurance Companies (MABISZ).
More Продолжение
 GENERALI
gross premiums written down 5.5% for 2011
by vlad.boldijar@mxp.ro, 2012-03-12
In 2011, GENERALI Group recorded gross premiums written of EUR 69.2
billion, 5.5% down compared to 2010, according to preliminary figures
published by the insurance group. "In
an extremely difficult environment in Europe, and in Italy in particular,
GENERALI has demonstrated its ability to achieve significant production
results, with strong growth in the Non-Life segment and a Life premium
income that confirms our position as a leader in Europe", said Giovanni PERISSINOTTO, CEO, GENERALI Group.
More Продолжение
 Year
2012 for the reinsurance companies in Russia: Reset. Ways of Development
by olesea.serghiescu@mxp.ro, 2012-03-14
2010 and 2011 were years of great changes for Russian insurance and
reinsurance markets so what are they expecting of 2012? Results of
market transformation (market players, pricing policies), as well
as the tendencies of the market development and the way changes on
the international reinsurance markets have reflected over the reinsurance
industry in Russia represent the context for the XVI All-Russian
Reinsurance Conference.
More Продолжение
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| SWISS
Re Conference |
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 The
currently used risk models are not enough for a correct evaluation
of claims
by alexandru.ciuncan@mxp.ro, vlad.panciu@mxp.ro,
2012-03-13
"Each and every earthquake in the last few years surprised us all, generating
economic losses and insured claims exceeding the ones initially estimated".
More Продолжение
 Floods
claims three times over last ten year average
by alexandru.ciuncan@mxp.ro, vlad.panciu@mxp.ro,
2012-03-13
Damages caused by floods last year were over three times the average
of the last ten years. This was the main subject of the conference
organized today in Zurich by SWISS Re, one of the world's leading
reinsurers. Among the participants there are insurers and reinsurance
brokers from across Europe.
More Продолжение
 SWISS
Re launches CatNet for the detection of catastrophic risks
by alexandru.ciuncan@mxp.ro, vlad.panciu@mxp.ro,
2012-03-13
Reinsurer SWISS Re will launch by the end of March an improved version
of the CatNet system, which allows the detection, location and online
analysis of catastrophic risks on a global scale.
More Продолжение
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| IIF
2012 |
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 Mariusz
WICHTOWSKI: 50,000 EU citizens die yearly in car accidents
by vlad.boldijar@mxp.ro, 2012-03-05
"In EU area, 50 thousand citizens yearly died in car accidents",
stated Mariusz WICHTOWSKI, President, Council of Bureaux, at The International
Insurance Forum 2012 organized by XPRIMM Group and Istanbul Underwriting Center.
More Продолжение
 TRIGLAV:
Despite increases in population and vehicles, number of claims decreased
in Slovenia
by vlad.boldijar@mxp.ro, 2012-03-05
In the last years, the volume of GWP on the Slovenian insurance market
increased from EUR 50 million in 1992-1993 to over half EUR billion
in 2010, said Matjaz RAKOVEC, President of the Management Board,
Zavarovalnica TRIGLAV. "For
example, on MTPL segment, the number of claims decreased from 65,000
in 2007 to 60,000 in 2010. According to RAKOVEC, the "changes in the motor legislation for a safer traffic, the development of road
infrastructure, and safer motor vehicles" have contributed to this situation.
More Продолжение
 Azerbaijan
is trying to follow the European experience
by vlad.boldijar@mxp.ro, 2012-03-05
"Last three years have been the best in changes for the Azeri insurance market",
said Azer ALIYEV, Executive Director, Azerbaijan Insurance Association. "As you know, my country was a part of the Soviet Union. This period was followed
by a period of construction of the economy and industry. Today we try to follow
Europe", added Mr. ALIYEV.
More Продолжение
 VIDEO: AVUS
Group opened the International Insurance Forum in Istanbul with a
welcoming cocktail
by oana.radu@mxp.ro, 2012-03-05
The former night marked the official opening of this year's International
Insurance Forum in Istanbul, organized by XPRIMM Group and Istanbul
Underwriting Center. This consisted in a welcoming cocktail offered
by AVUS Group, one of the Main Partners of the event.
More Продолжение
 Periodic
motor vehicle inspection (PMVI) - the major problem on the Serbian
insurance market
by vlad.boldijar@mxp.ro, 2012-03-05
In Serbia, more than 85% of the MTPL insurance policies are sold
via periodic motor vehicle inspection (PMVI) Agencies, "hence
the sale is practically relocated from insurance companies", declared Vladan MANIC, Secretary General, Association of Serbian Insurers.
More Продолжение
 The
financial crisis - the possible cause for the increase of the number
of uninsured vehicles
by vlad.boldijar@mxp.ro, 2012-03-05
According to Atanas TABOV, Chairman, National Bureau of Bulgarian
Motor Insurers (NBBMI), the number of accidents in Bulgaria in which
vehicles without Green Card insurance were involved almost doubled
since 2010. Thus, the number of cases solved by NBBMI increased from
360 in 2010 to 673 in 2011. It should also be mentioned that the
number of accidents caused by uninsured vehicles has been continuously
increasing since 2008, when only 140 cases were registered.
More Продолжение
 Claims
management is not only the insurers' concern
by mihai.cracea@mxp.ro, 2012-03-05
Claims management is not only the insurers' concern anymore, but
of all entities involved in the compensation process, according to
Gheorghe AXINTE, Country Manager, AUDATEX Romania, present at the
International Insurance Forum 2012 on March 4th-5th, in Istanbul.
He also pointed out that insurers must get even more involved in
this process.
More Продолжение
 Mariusz
WICHTOWSKI: The financial crisis did not affect the stability of
insurance companies, but it changed their behavior
by mihai.cracea@mxp.ro, 2012-03-05
"From our perspective, the financial crisis didn't affect the stability of
insurance companies, but, on a secondary level, it did change their behavior.
We noticed that insurers delay the claims payment for victims of motor accidents
as much as possible", declared Mariusz WICHTOWSKI, President of the Council of Bureaux, during the
International Insurance Forum held on March 4-5 in Istanbul.
More Продолжение
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| FINANCIAL
NEWS |
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HUNGARY:
EU freezes 2013 aid funds under the excessive deficit procedure
by daniela.ghetu@mxp.ro, 2012-03-15
ECOFIN adopted Tuesday, March 13th, a decision suspending EUR 495.2
million in scheduled commitments for Hungary under the EU's cohesion
fund, taking effect as of 1 January 2013. It also issued a recommendation1
under the EU's excessive deficit procedure, setting 2012 as the target
year for correction of Hungary's deficit.
OECD:
Hungary must stabilise its economy for a durable recovery
by daniela.ghetu@mxp.ro, 2012-03-15
The OECD report, released on Tuesday, March13th, in Budapest, shows
that the fragile and highly-indebted Hungarian economy has been hard
hit by the global slowdown and heightened financial market stress.
It points out that controversial domestic measures have added to
the uncertainty that is undermining business, household and market
confidence. According to the OECD's latest Economic Survey of Hungary,
swift action is needed to stabilise the Hungarian economy and put
growth on a sound footing for a durable recovery.
POLAND's
short-term debt rating improved by Moody's
by daniela.ghetu@mxp.ro, 2012-03-15
Moody's Investors Service has assigned on March 12, a Prime-1 short-term
debt rating to the government of Poland. The government's existing
long-term debt rating is A2 and carries a stable outlook. |
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| EDITORIAL |
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 The
Awards' Season
As last year's results are known, the well deserved recognition is
granted to the best performing players of the world's insurance markets.
Insurers, reinsurers, brokers, consultants are all awaiting the judging
panel's decisions and hoping they will enjoy their moment in the
spotlight. Read
more
daniela.ghetu@mxp.ro
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| INTERVIEW |
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Mariusz
WICHTOWSKI
President
Council of Bureaux
The combined ratio in MTPL is one of the biggest problems in many
countries, and in many cases is close or even higher than 100%. During
this conference we had the opportunity to some case studies showing
that it is possible to have claims ratios of 90% or even better than
that and this the direction we should all go. Read
more
 Rudolf
ELVERS
Managing Director
German Green Card Bureau
We have no longer a higher level of registration of new cars. That
means that practically there are no new clients, but only people
who are changing the insurance company, looking for a better price.
This phenomenon encouraged the companies to lower prices in order
to attract more clients for some years, but now everybody saw that
this is not the best policy to follow and German insurers started
to increase tariffs for MTPL to a more appropriate, technical level. Read
more
 Ionel
DIMA
Vice-President
AVUS Group
The price war is not over, nor in the CEE markets or even in the
mature ones. As long as insurers will still fight for market share,
we will not reach a price level able to consolidate the system. We
will continue to see markets where stability may be questioned. The
right answer to this situation is very simple, in fact: technical
underwriting, not commercial prices. Read
more
 Liviu
STOICESCU
President
B.A.A.R.
Bodily injury claims are probably one of the most important challenges
for the Romanian motor insurers, especially when it comes about the
compensations to which victims' inheritors are entitled. The minimum
limits are now at the same level in the Romanian system as in the
Western Europe, but tariffs didn't follow the same ascendant trend. Read
more
 Ismail
YILDIZ
Foreign Claims Department Manager
Turkish Motor Insurance Bureau
So far, on the Turkish market, we can not speak about technical profit
on motor insurance. The market is very competitive and price sensitive,
insurers are still fighting to get a bigger market share, but un
the long run, there is a lot of growth space, as the market potential
is far from being fully exploited. Read
more
 Viorel
VASILE
General Director
SAFETY Broker
I think the Romanian motor insurance market is already showing the
first signs of returning to the technical underwriting on MTPL, especially
on the corporate segment. Still, there is still a long way to go
in this direction. 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?
For all those interested to get in touch and better understand the
financial markets of the Central Asian countries, Tashkent International
Investment Financial Forum provides a large informative and networking
opportunity.
Organized by the Information-rating agency SAIPRO, the Forum hosts
several specialized conferences which will allow a direct contact
with the banking, leasing, re/insurance and capital markets accross
the region.
The quality and richness of the event itself, as well as the huge
potential of the local markets, together with the astonishing mix
of modernity and millenary persian tradition you will encounter visiting
Tashkent and Samarkand are the main arguments for attending TIIFF
2012.
More
details
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
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 |
| STATISTICS |
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