 TOP
NEWS |
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 RUSSIA,
FY2011: Maintaining the ascending trend
by daniela.ghetu@mxp.ro, 2012-05-10
Russian insurance market registered a remarcable high dynamic in
2011, as the GWP volume grew by almost 22% in local currency, to
RUB 1,267.8 billion. Without considering the class of mandatory health
insurance, the nominal growth rate in local currency was of 19%.
In European currency, overall GWP amounted EUR 30.4 billion, almost
18% more than in 2010.
 More  Продолжение
 UZBEKISTAN,
FY2011: The uptrend in the "business cycle" continues
by vlad.boldijar@mxp.ro, 2012-05-10
Uzbekistan recorded in 2011 the second best economic growth rate
in the Commonwealth of Independent States according to the UN report
World Economic Situation and Prospects 2011 (WESP). In line with
the forecast of the UN experts, the real gross domestic product (GDP)
increased by 7.3% in 2011 (partially estimated), while, in 2012 Uzbekistan's
economy is expected to rise by 7%.
More Продолжение
 BULGARIA,
FY2011: Flattening the downfall trend
by daniela.ghetu@mxp.ro, 2012-05-10
According to the Bulgarian National Statistical Institute (NSI),
GDP grew by 1.7% in 2011 in real terms, a lower figure than the estimated
rates. Weak housing and labor market revival, deleveraging in the
corporate sector and slowing external demand are the main headwinds
faced by the Bulgarian economy. Moreover, deteriorating external
conditions affecting exports could also jeopardize the labor market
stabilization started by mid 2011. Unemployment rising rate, to 11.2%
in 2011, as well as the ongoing tightening austerity measures have
already determined a further deterioration of population's purchasing
power and appetite for buying insurance products.
More Продолжение
 LATVIA,
FY2011: Returning to "double digit" rates
by daniela.ghetu@mxp.ro, 2012-05-10
Latvian insurance market recorded an impressive double digit growth
rate in 2011, reminding the good pre-crisis years. GWP amounted EUR
323 million, 19.3% y-o-y up. Yet, on the life insurance side the
trend was strongly negative, with a 24% decrease in GWP, to EUR 35.4
million. On the non-life insurance segment, GWP volume amounted EUR
287.6 million, 28.4% more than in 2010.
More Продолжение
 UKRAINE,
FY2011: Strong growth on non-life, but life insurers still needs
to gain people's confidence
by daniela.ghetu@mxp.ro, 2012-05-10
Gross written premium volume reported by the Ukrainian insurers in
2011 amounted UAH 14.33 billion, 9.70% up as compared to 2010, in
nominal terms. Due to the 3% appreciation of the local currency,
Hryvnia, in relation with Euro, the figures denominated in European
currency show an even higher growth rate, of 12.63%, to EUR 1.39
billion.
More
 ARMENIA,
FY 2011: Market reinforced by MTPL
by vlad.boldijar@mxp.ro, 2012-05-10
In 2011, total insurance premium production of the Armenian insurance
companies amounted AMD 22.4 billion or EUR 44.9 million, almost three
times more than in 2010 (EUR 17.6 million). Also, in the reference
year, insurers have paid claims of AMD 8.1 billion (EUR 15.7 million),
according to data published by the local Agency ArmInfo. In 2011,
net profit recorded by insurance companies in Armenia amounted to
AMD 2.4 billion or EUR 4.6 million, four times more than in 2010.
More Продолжение
 GEORGIA:
ALDAGI BCI became 85% owner of the IMEDI L
by olesea.adonev@mxp.ro, 2012-05-10
The largest player was established in the Georgian insurance and
hospital markets, as on April 5th, insurance Company ALDAGI BCI became
the owner of an 85% capital share of IMEDI L, in a deal of GEL 8
million (EUR 3.8 million), announced by COMMERSANT.
More Продолжение
 BELARUS:
The Finance Minister support the development of insurance market
by vlad.boldijar@mxp.ro, 2012-05-07
According to Belarusian Telegraph Agency (BelTA), a draft decree
has submitted to develop insurance services in Belarus. Last week,
the Finance Minister, Andrei KHARKOVETS, in a session of the Council
of Ministers Presidium, has discussed about the implementation of
the 2011-2015 insurance development program and measures to improve
insurance effectiveness.
More Продолжение
 SOGAZ
operates on the SERBIAN market
by vlad.boldijar@mxp.ro, 2012-05-07
Last year, the Russian insurer SOGAZ, obtained a license to do business
in Serbia, together with the country's gas monopoly SRBIJAGAS. At
the end of April, 2012, has developed the opening ceremony of the
SOGAZ subsidiary. The new company was named after the city where
its headquarters are located - SOGAZ Novi Sad. The co-founders of
the subsidiary are SOGAZ (51% of capital) and OJSC Serbiagas (49%
of capital), leader of Serbian gas industry.
More Продолжение
 SLOVENIA:
ERGO zavarovalnica launched in Slovenia
by vlad.boldijar@mxp.ro, 2012-05-07
ERGO is rebranding its business in Slovenia in May 2012, announced
last week the Group: "The
company is launching motor insurance with an innovation for the Slovenian
market. The VICTORIA-VOLKSBANKEN brand will be replaced by ERGO", companies officials say.
More Продолжение
 GENERALI
PPF Holding, FY2011: Net profit growth 28% in challenging market
conditions in CEE
by vlad.boldijar@mxp.ro, 2012-05-07
GENERALI PPF Holding reported significant growth in net profit in
2011, "despite
the difficult macroeconomic situation across the region and demanding
conditions for the insurance industry in countries where the company
operates".
More Продолжение
 UNIQA
prepares capital increase
by vlad.boldijar@mxp.ro, 2012-05-08
Austrian insurer UNIQA plans a EUR 500 million euro rights issue
this year as an interim step towards expanding in Eastern Europe.
The share issue to finance expansion in emerging Europe would be
offered to existing shareholders, with core investors RAIFFEISEN
Zentralbank and AUSTRIA Privatstiftung taking up their full allotment.
More Продолжение
 TURKMENISTAN,
FY2011: Figures showing the "local appetite" for insurance
by vlad.boldijar@mxp.ro, 2012-05-10
In 2011 the gross premium written in Turkmenistan was of EUR 45.7
million, 15% more as compared to a year before. By insurance classes,
voluntary segment predominated and represented 95% of total, a hardly
usual situation for CIS Region. Looking at the past results, one
should notice that the insurance market increased six times in last
five years. Responsible for the development of the insurance industry
is "the
only one" company that operates: TURKMEN GOSSTRAKH which can be translated into "State Insurance Organization of Turkmenistan".
More Продолжение
 TAJIKISTAN,
FY2011: Still in "infancy"
by vlad.boldijar@mxp.ro, 2012-05-10
According our estimations, the total GWP amounted about EUR 20 million
in 2011, respectively EUR 16 million in case of 2010, representing
about 0.4% of GDP (EUR 4.9 billion in 2011 and EUR 4.2 billion in
2010 - published by the National Bank of Tajikistan), Tajik insurance
industry being the smallest of the Central Asian CIS markets. Despite
rapid growth in recent years, the insurance sector is still underdeveloped,
highly concentrated, the majority of companies are undercapitalized,
while many forms of insurance protection common in other parts of
the world are not yet available.
More
 GREECE:
Maritime insurance "sinks"
by dimitris.tsoulias@mxp.ro, 2012-05-10
A downward trend is observed in Greece regarding boat insurance in
the last years according to HAIC that in 2010 results of the written
premiums reached EUR 15 million from EUR 15.6 million in 2009. From
the above premiums, EUR 4.1 million accounted for the liability insurance
of boats. This turn of events is not by chance because it goes in
line with sales of leisure boats in Greece that from 2009 and up
until 2010 have dropped by 26%.
More
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| EDITORIAL |
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 The
200 issues milestone
Today we are reaching a new milestone - the 200th issue of XPRIMM
News. Covering an ever growing area and permanently trying to look
into more depth, XPRIMM News accompanies the development efforts
of the European re/insurance industry for eight years. During our
200 meetings we have tried to bring you the most important facts
and figures defining the insurance business in the CEE and CIS regions.
It is your part to decide whether we succeeded or not! Read
more
daniela.ghetu@mxp.ro
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| INTERVIEW |
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 Enkeleda
SHEHI
Chairperson
Albanian FSA
One of the main challenges during 2011 was the liberalization of
the MTPL market in terms of removal of the fixed-tariff regime. This
was immediately followed by a sharp decrease in prices, which influenced
the overall market performance. Read
more
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| STATISTIC
UPDATES |
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| ON
THE MOVE |
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 Cornelia
COMAN appointed CEO of ING Hungary
Cornelia Aurelia COMAN, CEO ING Life Insurance (Romania), will take
over, as CEO, ING Life Insurance and Pensions Hungary, starting June
1st, 2012. She replaces Zsolt KOVACS who left ING. In the following
months, Mrs. COMAN will coordinate both the Romanian and Hungarian
companies, up until her successor in Romania will be appointed. Read
more
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| EVENTS |
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15th FIAR
- The International Insurance Reinsurance Forum
The number of participants registering for FIAR - THE INTERNATIONAL
INSURANCE-REINSURANCE FORUM is increasing daily, the event gathering
representatives of the insurance and reinsurance markets from all
over the world.
Leaders and specialists from Romania, the Republic of Moldova, Great
Britain, USA, Slovakia, Bahrain, Austria, Denmark, Germany, Russia,
Italy, France, Turkey, Sweden, Poland, Ireland, Cyprus and the Czech
Republic have announced their participation so far.
More Продолжение
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 Forum
July 4th-5th, 2012
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, Germany
WorldPensionSummit 2012
November 14th-16th, 2012
Amsterdam, Netherlands
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com |
| POINT
OF VIEW |
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 National
Bank of Serbia
Insurance Supervision Department
Introduction of Solvency II directive in EU, which aims to harmonize
insurance regulation throughout the continent and enhance consumer
protection, will have a significant impact on insurance in Europe,
and also on the Serbian market. Read
more
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| STATISTICS |
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