 TOP
NEWS |
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 CZECH
REP., FY2011: Insurance market declined slightly, Central Bank
by vlad.boldijar@mxp.ro, 2012-04-12
Czech Republic gross written insurance premiums decrease slightly
last year, to CZK 155.08 billion (EUR 6.01 billion), according to
the financial indicators published by the Czech National Bank (CNB).
These results confirm the market trend resulting from data collected
by the insurers' association (CAP).
 More  Продолжение
 GREECE,
FY 2011: Insurance market has been reduced by 7%
by dimitris.tsoulias@mxp.ro, 2012-04-03
Last year, the Greek insurance market registered a decrease in insurance
GWP of 7.1% to EUR 4.7 billion, as compared to 2010, according with
the research conducted by the EAEE - (Hellenic Association of Insurance
Companies).
More Продолжение
 PZU
FY 2011 results: Massive restructuring and targeting the absolute
leadership position in CEE
by daniela.ghetu@mxp.ro, 2012-04-04
PZU Group ended 2011 with a PLN 15.28 billion GWP volume, 5.1% up
as compared to 2010, and a PLN 2.3 billion net profit, 3.9% less
than on year before, according to the Group's annual financial statement.
While the significant volatility of the capital markets in 2011 impacted
negatively impacted profitability, the pricing policy on the motor
insurance lines - putting an end to the long lasting price war -,
was one the main drivers of the premium growth. The swich to a customer
centered operation model and a massive expansion in the CEE region
are the main lines of the PZU's development strategy for the following
three years.
More Продолжение
 IFC
buys stake in TRIGLAV INT, supporting the Group's international expansion
by daniela.ghetu@mxp.ro, 2012-04-03
A Subscription Agreement and a Shareholders Agreement, worth EUR
25 million was signed yesterday between IFC, a member of the World
Bank Group and TRIGLAV INT, a subsidiary of Zavarovalnica TRIGLAV
through which is the international arm of the TRIGLAV Group and owns
several insurance companies in the Western Balkans. As contractually
agreed, IFC will gain a 16.68% equity stake of the company.
More Продолжение
 POLAND:
The European Commission approves acquisition of joint control over
WARTA by TALANX and MEIJI YASUDA
by vlad.boldijar@mxp.ro, 2012-04-10
The European Commission has cleared under the EU Merger Regulation
the proposed acquisition of joint control over the Polish insurance
company WARTA by TALANX International AG of Germany and MEIJI YASUDA
Life Insurance of Japan. The Commission concluded that the proposed
transaction would not raise competition concerns because of the merged
entity's moderate market position and the presence of strong competitors.
The transaction was notified to the Commission on 1 March 2012.
More Продолжение
 LIBERTY
MUTUAL Insurance Group acquires Russian company KIT Finance Insurance
by vlad.boldijar@mxp.ro, 2012-04-10
Boston-based insurer LIBERTY MUTUAL Insurance Group, the third largest
property and casualty insurer in the U.S. announced at the end of
March the acquisition of Russian insurance company KIT Finance Insurance
from KIT Finance Holding Company LLC, a subsidiary of Joint Stock
Company Russian Railways and its Non-State Pension Fund Blagosostoyanie. "The
acquisition enables LIBERTY MUTUAL to enter Russia's USD 21 billion
property and casualty insurance market", informed the U.S. insurance group.
More Продолжение
 VIENNA
Insurance Group leaves the Russian market
by olesea.serghiescu@mxp.ro, 2012-04-10
Austrian VIENNA Insurance Group intends to sell its shares in two
insurance companies from Russia, MSK and MSK Life, to the Russian
VTB Bank. VIG now holds a minority share of 25% in MSK Life and of
3.45% in MSK.
More Продолжение
 MOLDOVA,
FY2011: Estimates confirmed: 10% growth in GWP led the market over
the first MDL billion threshold
by vlad.boldijar@mxp.ro, 2012-04-12
MDL one billion (EUR 61.6 million) wrote in premiums the Moldavian
insurers in 2011, 10% more than a year earlier, according to the
final financial data centralized by the National Commission of Financial
Market (NCFM). Claims reached MDL 348.4 million (EUR 21.3 million),
an 8% increase in comparison to previous year. "Last
year, the share of insurance market in GDP was 1.3%. If this indicator
will reach 3%, as in developed countries, it is clear that doubling
the market (MDL 2 billion) is a possibility for the next years", said Vladimir STIRBU, Director of Insurance Department of NCFM.
More Продолжение
 PZU
already paid EUR 0.3 million for claims arising from the train crash
tragedy of Szczekociny
by daniela.ghetu@mxp.ro, 2012-04-05
The Polish leading insurer, PZU announced today that PZU Group's
companies have so far paid out claims for a total amount exceeding
PLN 1.2 million (~EUR 290,000) related to the tragic train crash
near Szczekociny, on March 3rd. PZU SA is currently handling 48 cases,
while PZU Zycie, the main life insurer of the Group, has registered
43 claims reported by the victims or beneficiaries.
More Продолжение
 The
5th Tashkent International Investment Financial Forum
by olesea.serghiescu@mxp.ro, 2012-04-04
Between 4th and 8th of April 2012 in Tashkent, Uzbekistan, takes
place The 5th Tashkent International Investment Financial Forum,
organized by SAIPRO Information-rating agency. PRIMM Insurance & Pensions
Magazine supports the event as Media Partner.
More Продолжение
 SAVA
Re: EUR 8,6 million after tax profit and increased focus on the foreign
markets
by daniela.ghetu@mxp.ro, 2012-04-03
SAVA Reinsurance Company recorded an after-tax profit of EUR 8,6
million for 2011, which is almost 20% more than in the prior year.
Last year, the company wrote gross premiums of EUR 140,3 million,
a drop of about 1,8% from 2010. Both the decrease in premium from
Slovenia (in order to avoid double exposure) and the increase in
foreign-sourced business are in line with Company strategy.
More Продолжение
 KOSOVO,
FY2011: Insurance market maintains the ascending path
by vlad.boldijar@mxp.ro, 2012-04-12
According to data published by the Central Bank of the Republic of
Kosovo, insurance market continued to grow in 2011, up to EUR 78.1
million in gross written premiums. As compared to the 2010 result,
the figure shows a 9.7% increase, most of it generated by the over
605 thousand policies sold in the analyzed period, almost 65 thousand
more than in 2010.
More Продолжение
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| Motor
Insurance Workshop - Republic of Moldova |
|
 Artur
GHERMAN, CNPF: The Supervision Authority is aware of the MTPL
insurance' importance for the market
by vlad.boldijar@mxp.ro, 2012-04-12
The second edition of the Seminary dedicated to the motor insurance
sector took place at Chisinau, on the 2nd of April, 2012. The event
was organized by Media XPRIMM, together with the Moldavian supervision
authority - CNPF - The National Commission of the Financial Market.
More Продолжение
 STIRBU,
CNPF: UAM proposed the postponement of the reform
by vlad.boldijar@mxp.ro, 2012-04-02
According to The Supervision Authority in Chisinau, the eight company
members of UAM - The Union of Moldavian Insurers, have proposed the
postponement or the extension of the waiver regarding the application
of stipulations concerning the elimination of the wear coefficient
by three years: "This
motion made by UAM members is still in discussion at the highest
level - The Parliamentary Commission. If it is not approved, CNPF
believes that the insurers can survive this reform without losses", explained Vladimir STIRBU, Director, The Supervision Division, CNPF.
More Продолжение
The
Moldavian Information System is on trial
by vlad.boldijar@mxp.ro, 2012-04-12
One of the major challenges that the Chisinau supervision authority
must face in 2012 is the completion of the informatic system for
MTPL policies: "As
far as the implementation process goes, we wish we could have used
the electronic issuing system from a while back, but the context
didn't allow it", declared Vladimir STIRBU.
More Продолжение
 The
claims value will increase considerably
by vlad.boldijar@mxp.ro, 2012-04-02
According to Pavel CATER, the President of BNAA - The National Bureau
of Motor Insurers in the Republic of Moldova, in the last 5 years,
the insurers paid only 60% of the real value of MTPL claims, because
of the ageing factor. Thus, after the 6th of April 2012, "the
average claim value will increase. We will have more expensive claims
to pay. What is the solution? The only possible source is the increase
of premiums. The current rates are calculated based on statistics
from 2002-2008. We believe that claims will increase considerably,
by 40%. Still, taking into account the increase of the services'
quality, the rates should also increase", explained Pavel CATER.
More Продолжение
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| FINANCIAL
NEWS |
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ROMANIA:
Annual inflation rate drops to 2.4pct in March, a new historic
low
by daniela.ghetu@mxp.ro, 2012-04-12
The annual inflation rate fell to 2.4 percent in March 2012, from
the 2.59 percent level in February 2012, thus recording a new historic
low of the last 23 years, according to data released by the National
Statistics Institute (INS) on April 10th.
POLAND:
the NBP interest rates remain unchanged until year end
by daniela.ghetu@mxp.ro, 2012-04-12
The Polish Monetary Policy Council decided on April 4th to keep the
NBP interest rates unchanged, namely: reference rate at 4.50% on
an annual basis; lombard rate at 6.00% on an annual basis; deposit
rate at 3.00% on an annual basis; rediscount rate at 4.75% on an
annual basis.
Slovenia
prepares two bond issues in 2012 to finance the budget deficit
by daniela.ghetu@mxp.ro, 2012-04-12
Slovenia plans an EUR 1.5 billion sovereign bond to part-finance
its budget deficit and make a second issue this year, if market conditions
are favourable, the country's finance minister said on April 6th,
quoted by Reuters. |
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| EDITORIAL |
|
 A
leading part to play for insurers
At the time I was preparing to write this column, a new disaster
made the headlines on the news streams: a massive earthquake struck
off the coast of the Indonesian island of Sumatra, triggering a tsunami
alert for the Indian Ocean. The quake had a magnitude of 8.7 on Richter
scale and across a large area the tremor revived fearful memories
of the 2004 catastrophic earthquake and tsunami in the region that
killed tens of thousands of people. Read
more
daniela.ghetu@mxp.ro
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| STATISTIC
UPDATES |
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| EVENTS |
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15th FIAR
- The International Insurance Reinsurance Forum
FIAR stands
as the most important European spring event dedicated to the insurance,
reinsurance and private pensions markets.
Every year, for five days, Sinaia becomes the "spring
metropolis of insurance" not only for the Romanian market but also for all of CEE, Russia & CIS.
FIAR gathers
representatives of all major European insurance and reinsurance companies
which use this opportunity to meet with their high level counterparties
from Russia & CIS.
FIAR traditionally
takes place in Sinaia, Romania during the last decade of May.
More Продолжение
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
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 |
| POINT
OF VIEW |
|
 Thomas
SCHOLLKOPF
Member of the board of Ergo International AG and responsible for
CEE
In some countries like Czech Republic, Poland, Slovakia and Hungary,
life insurance is already playing a significant role. In most of
these countries the security provided by the state pension is lower
than in Western Europe, so the demand for life insurance and savings
products is expected to grow.
One of the opportunities for insurers in CEE is represented by channel
and product innovation, as well as comprehensive product offering.
In this respect, bancassurance is regarded as the most suitable channel
to drive and combine innovation with product offering. Generally,
foreign insurance companies have a strong presence in CEE. Read
more
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| STATISTICS |
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