 TOP
NEWS |
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 VIG,
FY2011: The profit increased to a record high of EUR 559 million
by vlad.boldijar@mxp.ro, 2012-03-29
Last year VIENNA Insurance Group earned consolidated premiums written
of EUR 8.9 billion, which corresponds to a rise of 3.4%, reported
today the company. At the same time, the profit before taxes increased
by 10.1% to EUR 559.0 million, being "the
best-ever result in the Group's history", VIG officials say.
 More  Продолжение
 TURKEY,
FY 2011: high inflation and massive currency devaluation, but still
on the growth track
by daniela.ghetu@mxp.ro, 2012-03-23
The Turkish insurance market closed the year 2011 with a premium
production of TRY 17.17 billion, 21.5% up in nominal terms as compared
to 2010. However, in real terms, considering the 10.45% inflation
rate registered in 2011, the growth was of 10.04%. Moreover, 2011
also brought a significant devaluation of the Turkish Lira in relation
to the European currency. As a result, denominated in Euro, market
output was of EUR 6.07 billion, only 1.88% higher than in 2010. Yet,
although at a lower pace, the Turkish market remains one of the very
few which didn't leave the positive territory in the last years.
More Продолжение
 SLOVENIA,
FY 2011: First negative result after 16 years
by vlad.boldijar@mxp.ro, 2012-03-23
Economic crisis, still lasting in Slovenia, affected last year the
insurance industry: the 19 insurers member of Insurance Association
(SIA) generated EUR 2.092 billion in gross written premiums, 0.12%
less compared to 2010, primarily due to the decrease in life insurance. "The
crisis is the main reason for the result in 2011, as the increasing
unemployment rate and poverty left less money to spend for insurance.
The market has shrinked for the first time in 2011 since the systematic
monitoring began in 1995", stated for XPRIMM News Tomaz MANCINI, B.Sc., Head of the Statistical Analysis
and Information Technology Service, Slovenian Insurance Association.
More Продолжение
 ROMANIA,
FY 2011: Ready for recovery
by daniela.ghetu@mxp.ro, 2012-03-23
The Romanian insurance market ended 2011 at about RON 7.8 billion
(EUR 1.84 billion). As compared to 2010, the last years' figures
show a nominal decrease of 6.9%, indicating a possible flattening
of the downfall trend started in 2009.
More Продолжение
 RUSSIA:
VTB is ready to buy stakes in INGOSSTRAKH from GENERALI PPF
by vlad.boldijar@mxp.ro, 2012-03-29
GENERALI PPF Holding is in talks to sell its stake in Russian insurer
INGOSSTRAKH to Russia's VTB Bank, Italian business daily IL SOLE
24 ORE reports yesterday, informed 4-traders.com. Today, the CEO
of VTB Group, Andrei KOSTIN, partially confirmed that the state-controlled
VTB is in talks to buy a stake in Russian insurance company INGOSSTRAKH
(REUTERS).
More Продолжение
 TURKEY
becomes a hot spot on the acquisitions map
by vlad.boldijar@mxp.ro, 2012-03-27
According to REUTERS, Germany's GOTHAER Insurance Group is in talks
to buy a majority stake in Turkish insurer ISIK Sigorta from Bank
Asya "as
it seeks to tap a potential growth market". Turkey's Bank Asya, which offers banking services that comply with Islamic
law, holds almost two thirds stake in ISIK Sigorta. Other shareholders
may also sell their stakes, the REUTERS' sources said.
More Продолжение
 Property
insurance market in Serbia hindered by dropping sales of apartments;
Croatia and Montenegro less affected
by daniela.ghetu@mxp.ro, 2012-03-23
Since the middle of last year, the number of commercial mortgage
loans approved in Serbia has plunged by 15.3%. Consequently, apartment
sales fell by 30%, apparently also pulling back the household insurance
business which recorded an over 30% negative change in the first
three quarters of 2011, as compared to the same period of 2010. Thus,
after registering a small y-o-y nominal increase in 2010, of almost
3%, the 3Q2011 statistics show a 36% fall in premium, to RSD 3.67
billion (EUR 36.3 million). Similar situations of the apartment sales
in Croatia and Montenegro didn't have the same impact on the dwelling
insurance sector.
More
 Heavy
winter in insurance claims for GENERALI PPF Holding
by vlad.boldijar@mxp.ro, 2012-03-28
Residents of Central, Eastern and South Eastern Europe had to cope
with a short, yet severe winter this year. Subsidiaries of GENERALI
PPF Holding which operates in 14 countries in CEE, have contributed
to an internal survey in order to find out what effects the extreme
weather had on property and the health of people. The number of reported
insurance claims increased by almost 40% within the most affected
countries over the first half of February compared to a more "ordinary" winter.
More Продолжение
 JLT
Group interested in expanding business in Croatia
by daniela.ghetu@mxp.ro, 2012-03-22
JARDINE LLOYD THOMPSON Group Plc. (JLT), a global insurance broking
company, is interested in expanding its activities in Croatia following
the Croatian's government announcement with regard to the sale of
the state-owned insurance company CROATIA OSIGURANJE, found out bloomberg.com
at the British Investment Forum held in Zagreb.
More Продолжение
 POLAND:
PZU made public its new development strategy until 2014, PZU 2.0
by daniela.ghetu@mxp.ro, 2012-03-19
Customer centricity, efficiency, innovativity are the main coordinates
of the PZU's development new strategy for 2012-2014, called PZU 2.0.
According to a recent press release of the Polish group, PZU 2.0.
means a new vision for the insurer, which, thanks to strong customer
orientation and high operational efficiency has become the largest
and most profitable insurance company in Central and Eastern Europe.
By implementing the strategy, PZU targets a PLN 2 billion organic
growth in GWP by the end 2014.
More
 TALANX,
FY2011: Net income doubled to EUR 520 million
by vlad.boldijar@mxp.ro, 2012-03-28
The gross premium written by the Germany's third-biggest insurer
TALANX, increased by 4% in 2011 compared to the previous year to
EUR 23.7 billion. According to the press release, the increase was
driven by all divisions with the exception of Retail Germany, which
saw a drop in life insurances with single premium payments. Most
appreciable, with a gain of 11%, was the growth in international
retail business. In the past year TALANX was able to acquire two
companies in Argentina and Uruguay and the Polish companies TU EUROPA
and WARTA (both cases still subject to the usual regulatory approvals).
More Продолжение
 GENERALI,
FY 2011: significantly improved profitability in the CEE region
by daniela.ghetu@mxp.ro, 2012-03-22
Total underwritings of GENERALI Group in the CEE region amounted
EUR 3.94 billion in 2011, accordind to the figures presented on March
20th by Group's officials. The CEE business weights 5.7% on GENERALI's
consolidated portfolio, of EUR 69.16 billion. As compared to 2010,
the CEE premium production registered a better dynamic in 2011 (-2%)
than the Group's consolidated GWP which was of -5.5%. Operating result
for the CEE region was of EUR 503 million, 20% higher than in 2010.
More Продолжение
 EUROINS
reported strong results in Bulgaria and Macedonia
by vlad.boldijar@mxp.ro, 2012-03-19
In 2011, the Bulgarian insurance group EUROINS reports gross written
premiums at the amount of BGN 232.9 million (EUR 119 million), which
is at the level of 2010 when the same indicator were BGN 233.5 million. "The
trend of growth in non-motor lines compared to 2010 continues during
the period: property and accident grow with 90% and 29% respectively.
Written premiums in Casco and cargo fall by 32% and 28% respectively
as a result of the stagnating economy in all countries of operation", EUROINS officials say.
More Продолжение
 TRIGLAV
GROUP: 34% higher profitability, 2% less GWP volume in 2011
by daniela.ghetu@mxp.ro, 2012-03-19
"Despite the financial crisis, the TRIGLAV Group delivered excellent performance
in 2011 and earned EUR 58 million of profit before tax, mainly owing to effective
corporate governance and good results in the core insurance business. Almost
EUR 60 million of profit is an excellent result, especially against the backdrop
of conditions on capital markets which adversely affected the value of investments" stated Matja? RAKOVEC, President of the Management Board of Zavarovalnica TRIGLAV,
on the occasion of reporting with regard to the 2011 results of the Slovene group.
More
Expansion
in Latvia and Estonia, on PZU's 2012 agenda
by daniela.ghetu@mxp.ro, 2012-03-19
The first targets in PZU's expansion strategy were recently revealed
by a press release of PZU Lietuva, the Lithuanian subsidiary of the
Polish market leader: PZU wants to enter Latvia and Estonia in the
second half of 2012. According to PZU Lietuva CEO, Marius JUNDULAS, "expanding
in the Baltics is a natural move for PZU". Considering the strong position of PZU Lietuva on the Lithuanian market and
the fact that many of its big clients are extending their business
towards Latvia and Estonia, "it is only natural to offer them, in these countries, the same reliable services
as in Lithuania".
More Продолжение
 TURKEY:
ALLIANZ Sigorta's head pleads for stronger insurance regulation
by daniela.ghetu@mxp.ro, 2012-03-19
Turkey should launch strong regulations in the insurance sector as
it did in banking after the 2001 financial crisis to ensure the healthy
growth of the economy, recently stated Alexander ANKEL, CEO ALLIANZ
Sigorta, the Turkish non-life insurance subsidiary of the German
group. "The
market has been driven by the strong appetite for fast growth, so
the competition is fierce and there is no discipline in pricing," said ANKEL to Hurriyet Daily News, noting the sector was "overpopulated" with 39 companies.
More
 GROUPAMA:
Net results impacted by exceptional financial depreciation
by vlad.boldijar@mxp.ro, 2012-03-28
At 31 December, 2011, GROUPAMA combined premium income amounted to
EUR 17.2 billion. In property and casualty insurance the group posted
a 4.3% growth, while in life and health insurance, the premium income
declined by -7.1% due to "the
contraction of the savings division, in line with the rest of the
market".
More
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| FINANCIAL
NEWS |
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Gurria,
OECD: Europe is stalling. It needs to get out of first gear and
make growth the number one priority
by daniela.ghetu@mxp.ro, 2012-03-29
Euro area finance ministers meeting this week need to boost the firepower
of the European stability funds to at least one trillion euros, OECD
Secretary-General Angel Gurria said on March 27th. The current level
of commitment to the rescue funds is not enough to restore market
confidence, he said. A credible financial firewall will provide governments
with the breathing space they need to focus crucially on revitalising
Europe's economic growth and competitiveness.
Moody's:
Slovakian banking system outlook changed to negative
by daniela.ghetu@mxp.ro, 2012-03-29
The outlook on the Slovakian banking system has been changed to negative
from stable, caused by the downside risks to economic growth and
asset quality within the system, says Moody's Investors Service in
a new Banking System Outlook published on March 27th. Moody's expects
the Slovakian operating environment will weaken over the outlook
period, amidst the broader European Union economic slowdown. This
will exert pressure on asset quality, which, in turn, will dampen
the banks' profitability. These factors are balanced against expectations
of continued good system-wide liquidity and adequate capitalisation.
Moody's:
2012 survey shows Russian bank CFOs are cautiously optimistic
by daniela.ghetu@mxp.ro, 2012-03-29
In its second survey of the Chief Financial Officers (CFOs) of Russian
banks, the views of 80 CFOs reveals broadly credit-positive expectations,
says Moody's Investors Service in a new Special Comment published
on March 27th. "Bankers
are cautiously optimistic about the Russian economy and expect asset
quality, profitability and capitalisation to remain stable. Although
we share CFOs expectations on certain topics, the ongoing euro area
crisis has the potential to exacerbate volatility in banks' performance
and affect Russian GDP growth dynamics," explains Eugene Tarzimanov, a Moody's Vice President - Senior Analyst and author
of the report.
Poland
and Czech Republic have different views on joining the Euro-zone
by daniela.ghetu@mxp.ro, 2012-03-29
Talking at a conference on central European economic policy in Prague,
the governors of the Polish and the Czech central banks voiced differing
views Friday, March 16th, on their countries' aspirations towards
joining the euro, writes The Wall Street Journal. While Poland seems
to maintain its commitment to joining the Euro-zone, although envisaging
further political difficulties, Czech Republic shows a reluctant
position and refuses to adopt a firm timeframe for the Euro adoption. |
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| EDITORIAL |
|
 A
changing landscape
It is easy to see, following the news stream, that the CEE insurance
market will most probably end 2012 with a sensible different landscape.
With the Croatia's accession to the European Union, a new player
is entering the EU's insurance market, offering new business opportunities
to European insurers. PZU's expanding plans will also change, in
the first stage, the Baltic insurance landscape, adding a strong
competitor to the local markets. Read
more
daniela.ghetu@mxp.ro
|
The best Romanian insurance companies and their
regional networks were awarded on Monday evening, at the Insurance
Market Awards Gala. The awards granted by PRIMM Magazine - Insurance & Pensions, the leading specialty magazine in Romania, have highlighted the achievements
of companies and insurance brokers in 2011.
Nearly 400 top professionals in insurance and other related areas
were present at the XIIth edition of the traditional ceremony, hosted
by Sergiu COSTACHE, President of XPRIMM Group.
The 2012 winners are:
THE GRAND
AWARDS:
BEST INSURER 2011
ALLIANZ-TIRIAC Asigurari
BEST NON-LIFE INSURER 2011
ASIROM VIG
BEST LIFE INSURER 2011
BCR Asigurari de Viata
MANAGER
OF THE YEAR
- Florina VIZINTEANU,
President of the Directorate, BCR Asigurari de Viata
- Mihail TECAU, President,
BCR Asigurari VIG
SPECIAL
AWARDS FOR INSURANCE COMPANIES
AWARD FOR EXCELLENCE
-
GENERALI Asigurari
BEST CUSTOMER SERVICES
- ALICO Asigurari
- GROUPAMA
TRADITION AND STABILITY
- OMNIASIG VIG
The PRIMM Trophee
- ASTRA Asigurari
THE
BEST PRODUCTS AWARDS
- ING Asigurari de Viata -
for the Supplementary insurance for serious diseases
- EUROINS - for the IMM Protector
policy
INNOVATIVITY AWARD
- PLATINUM - for the PLATINUM
HoReCa policy
- UNIQA Asigurari - for
UNIQA Mobil
INSURANCE
BROKERAGE AWARDS
INSURANCE BROKER OF THE YEAR
- MARSH
SPECIAL
AWARDS FOR DISTRIBUTION PARTNERSHIPS
- PIRAEUS Insurance Broker & DOMO
- NETRISK Romania & eMAG.ro
- OTTO Broker & SIGNAL Iduna
THE
BROKERAGE AWARDS VOTED BY INSURERS
BROKERAGE COMPANY OF CHOICE - SAFETY
Broker
BEST BUSINESS PARTNER - Cristian
BALANICA, General Director, PIRAEUS Insurance Broker
SPECIAL
AWARD FOR LIFETIME ACHIEVEMENT - Ion BRATULESCU
OUTSTANDING CONTRIBUTION TO THE INSURANCE MARKET
DEVELOPMENT
- Radio EUROPA FM
- Traffic Police Department - IGPR
- PRO FIDUCIARIA
SPECIAL AWARD FOR SUSTAINABLE DEVELOPMENT - ASITO
Kapital
YOUNG PROFESSIONALS OF SUCCESS -
Ciprian GRIGORESCU, Florin CALIN, Ionut LOSONTI, Dragos CIOCAN, Filip
STAVROSITU, Andrei MIRAUTA, Madalin ROSU, Alin BAIESCU, Adrian LUPESCU,
Tiberiu MAIER, Iuliana RUSEI.
Продолжение
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| STATISTIC
UPDATES |
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The motor insurance business in Republic of Moldova will witness
this year some important legislative and operational changes, as
the electronic issuing of MTPL policies, a partial liberalization
of the insurance tariffs, as well as adoption of higher liability
limits for the same line of business.
Thus, 2012 will prove a challenging year for most of the Moldavian
insurers, as MTPL represents a significant share of their portfolio.
The second edition of the Motor Insurance Workshop organized by Media
XPRIMM at Chisinau will offer the opportunity to clarify some aspects
of the forthcoming new regulation and to benefit from the experience
accumulated by insurers from other countries which have already implemented
similar changes.
More
details
Tashkent International Investment Financial Forum
April 4th-8th, 2012
Tashkent, Uzbekistan
Organizer: SAIPRO
Media Partner: PRIMM Insurance & Pensions
Magazine
For details: www.saipro.uz
VIII International Risk Management Conference
April 19th-20th, 2012
Almaty, Kazakhstan
Organizer: Eurasia Insurance
Company
Media Partner: Revista PRIMM
- Asigurari & Pensii
For details: www.IRMC.kz
FIAR 2012 - International Insurance-Reinsurance
Forum
May 20th-24th, 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
4th CEA International Insurance Conference - "Global
market, global risks"
June 1st, 2012
Amsterdam, Netherlands
Organizer: CEA - Comite Europeen
des Assurances
For details: www.cea.eu
Azerbaijan International Insurance Conference
July 4th-5th, 2012
Kurhaus Casino, Runder Saal
Baku Business Center
Baku, Azerbaijan
Organizers: Azerbaijan Insurers
Association and Media XPRIMM
Baden - Baden XPRIMM Reception
4th Edition
October 21st, 2012
Kurhaus Casino, Runder Saal
Baden-Baden, Germany
33rd Baden-Baden Meeting 2012
October 21st-25th, 2012
Baden-Baden, Germania
WorldPensionSummit 2012
November 14th-16th, 2012
Amsterdam, Olanda
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com |
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