 LIVE
FROM BAKU, AZERBAIJAN |
 AIIF
- The most important event for the Caucasus and Middle Asia insurance
markets takes place in Azerbaijan
by andreea.ionete@mxp.ro, 2013-06-20
The fourth edition of the Azerbaijan International
Insurance Forum - AIIF, the most important event dedicated to the
insurance and reinsurance markets in the Caucasus and Middle Asia,
started today, June 20, in Baku. The event is organized by the AIA
- Azerbaijan Insurers Association and Media XPRIMM, with official
support of the Ministry of Finance of Azerbaijan. The Forum's agenda
includes the development perspectives of the Caucasian insurance
industry. Over 200 representatives of the regional insurance and
reinsurance markets are participating at the event, together with
specialists from Middle Asia, Europe, Turkey, Russia and CSI.
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 Azeri
Finance Minister: We have focused on strengthening prudential supervision
of the insurance industry in Azerbaijan
by alexandru.ciuncan@mxp.ro, olesea.adonev@mxp.ro,
2013-06-20
"We have focused on strengthening prudential supervision of the insurance
industry in Azerbaijan by increasing the capital requirements of insurers by
almost 5 times", said Samir SHARIFOV, the Azeri Finance Minister in the opening of the Azerbaijan
International Insurance Forum 2013, taking place between the 20th and 21st of
June in Baku.
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 PASHA
Life: We estimate a 400-500% increase of the life insurance market
in the next three years
by olesea.adonev@mxp.ro, 2013-06-20
"In the first 5 months of 2013, the gross written premiums on the Azerbaijan
insurance market reached USD 215 million, out of which USD 173 million were reported
on the non-life insurance segment and USD 41.8 million on life insurance. At
the same time, we estimate a 400-500% growth of the life insurance market (both
mandatory and voluntary) in the next three years and a 300% growth of the voluntary
life insurance", Parviz GULIYEV, Head of Risk Managing Department, PASHA Life, declared during
the Azerbaijan International Insurance Forum.
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 Florina
VIZINTEANU, AIIF 2013: Innovation is the key for success when it
comes to distribution
by alexandru.ciuncan@mxp.ro, adina.tudor@mxp.ro,
2013-06-20
In the first quarter of 2013, life insurance in Azerbaijan evolved
significantly while the growth was sustained by alternative distribution
channels.
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 AZERBAIJAN,
1Q2013: Prediction fulfilled
by vlad.boldijar@mxp.ro, 2013-06-20
In 2013, the local insurance is predicted to increase three times
less, as compared with the previous reporting periods, by "only" 15-20%,
according to Namiq KHALILOV, Head of State Insurance Supervision
Service, Ministry of Finance of Azerbaijan, quoted by the local media: "Despite the market growth in 2012, its potential is far from being fully used." This forecast was fulfilled and even exceeded at the end of March: compared
with the 1Q2012 figures, the local insurance market increased by
25% (in AZN) and by 30% (in European currency) y-o-y to AZN 102.2
million or EUR 101.5 million.
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| TOP
NEWS |
 European
insurance market returns to growth in 2012
by alexandru.ciuncan@mxp.ro, mihai.cracea@mxp.ro,
2013-06-20
Total European gross written premiums increased by 1.6% at constant
exchange rates in 2012, following a decline of over 2% in 2011, according
to new figures published by Insurance Europe.
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 Romania
has a representative in the Strategic Commission of Insurance Europe
by alexandru.ciuncan@mxp.ro, andreea.ionete@mxp.ro,
2013-06-20
Adrian MARIN, Member of UNSAR's Board of Directors and CEO at GENERALI
Romania. He was appointed in Rome by the General Assembly of Insurance
Europe - the Insurers' Associations Federation in Europe, as a Strategic
Commission's Member. It is for the first time that Romania has had
a representative in this institution.
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 ROMANIA,
1Q2013: Progress higher than expected?
by alex.rosca@mxp.ro, 2013-06-20
The expected results for the first quarter of 2013 did not leave
much room for optimism. In the market there was talk of decreasing
recorded by numerous companies and a year that started badly and
that could end up even worse. However, the figures seem to contradict
the rumors.
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 CROATIA,
1Q2013: Life insurance up by 7.8%, while non-life remained "in red"
by vlad.boldijar@mxp.ro, 2013-06-20
For the first quarter 2013, the 27 Croatian insurance companies generated
HRK 2.52 billion (EUR 332 billion) in gross written premiums, a 0.7%
decrease compared with the same period last year, according to the
figures published by the Croatian Insurance Bureau. The market leaders
were CROATIA Osiguranje with a 35.7% market share, followed by ALLIANZ
Zagreb with 13.5% and EUROHERC (8.5%).
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 MUNICH
Re sees FY2013 profit close to EUR 3 billion and GWP over EUR 50
billion
by vlad.boldijar@mxp.ro, 2013-06-20
Germany-based reinsurer MUNICH Re reported a consolidated result
of EUR 972 million in 1Q2013, compared with last year's EUR 782 million,
while the value of GWP increased by 0.5% y-o-y to EUR 13.3 billion,
from the prior year's EUR 13.2 billion.
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 SWISS
Re posts USD a 1.4 billion quarterly net income
by vlad.boldijar@mxp.ro, 2013-06-20
SWISS Re reported a net income of USD 1.4 billion for the first quarter
of 2013, 21% higher than the USD 1.1 billion net income reported
in the prior year period. At the same time, the premium and fee income
increased by 9% to USD 6.8 billion, while the Group's combined ratio
was 72.4% compared with 84.9% in 1Q2012.
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 CYPRUS,
1Q2013: The market contracted 6% y-o-y
by vlad.boldijar@mxp.ro, 2013-06-20
At the end of March 2013, the insurance market of Cyprus totaled
EUR 211.8 million or 6.7% less than in the first quarter of 2012,
according to the report of the Insurance Association of Cyprus on
insurers' performance.
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 Greek
insurers Q1 gross written premiums down by 13%
by vlad.boldijar@mxp.ro, 2013-06-20
The Greek insurers reported gross written premiums of EUR 1.02 billion
in the first quarter of 2013 as compared with EUR 1.18 billion a
year earlier, according to the 1Q2013 Report published by the Hellenic
Association of Insurance Companies (HAIC).
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 UNIQA
Group Q1 profit almost doubled, premiums up by 9.8% y-o-y
by vlad.boldijar@mxp.ro, 2013-06-20
The gross premiums written by the Austrian insurance group UNIQA
increased by 9.8% to EUR 1.66 billion in 1Q2013, while the combined
ratio after reinsurance improved to 98.3% (99.4% in 1Q2012). At the
same time, the profit on ordinary activities increased by 97% to
EUR 116.8 million, but excluding a gain of EUR 49.1 million from
selling hotel assets, the profit rose by 14.2% to EUR 67.7 million,
according to the 1Q2013 Report, recently published by the insurance
group.
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 LATVIA,
1Q2013: Insurance market expanded by 1% y-o-y
by vlad.boldijar@mxp.ro, 2013-06-20
Latvia's insurance market ended the period January-March 2013 with
a 1% annual growth. The insurance companies underwrote LVL 65.4 million
(EUR 93 million) worth of premiums. The market growth was fuelled
by life insurance that rose by 16.3% to LVL 5.5 million of premiums.
The non-life insurance sector decreased by 0.5% to LVL 59.9 million.
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 LITHUANIA,
1Q2013: Positive trend in all market segments
by vlad.boldijar@mxp.ro, 2013-06-20
According to the data of the Bank of Lithuania, the amount of gross
written premiums over the first quarter of 2013 totaled LTL 441.3
million (EUR 127.8 million), which was 11% more than over the same
period last year. At the same time, in the analyzed period, insurers
paid claims of LTL 315.7 million (EUR 91.4 million) or 28% more y-o-y.
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| PRESS
CUTTINGS |
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| EDITORIAL |
 Becoming
Stronger?
The Romanian insurance business totaled Gross Written Premiums of
nearly half a billion EUR during the first quarter of this year.
In the past 5 years, for the period under review the market value
exceeded EUR 652 million in 2009 while in 2011 companies totaled
EUR 492 million, the lowest value of the local market over the past
5 years. Read
More
alex.rosca@mxp.ro
|
| INTERVIEW |
 Namik
KHALILOV
Head of the State Insurance Supervision Service
Ministry of Finance
Azerbaijan
The Azerbaijan International Insurance Forum has already become a
tradition and we consider it a highly important event, because it
represents a platform for the experience exchange between insurance
leaders and specialists, which is of great use not only to us, but
also to our country's neighbors. Moreover, we are extremely pleased
that, in the past years, our foreign colleagues were interested,
in turn, in our experience on various topics.
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| STATISTIC
UPDATES |
| EVENTS |
The 5th International Insurance Conference
"Stability and security: insuring our futures"
June 13th, 2013
 The
macro challenges transmit official worrying vibes regarding the over-regulation
of the industry and the implementation principles
by alexandru.ciuncan@mxp.ro, 2013-06-20
The demographic challenges and the modification of the world economy
paradigm in the next 50 years were the main topic of the discussions
held at the Annual Conference of Insurance Europe - the Federation
of the Insurers' Association in Europe, after the topic centered
on the financial services consumers' protection dominated the Amsterdam
meeting last year. Thus, the industry seems to be making efforts
to prepare for the changes that are to occur at a macro level. Several
OECD studies are quoted regarding the development of the BRIC countries
and the economic downturn of the USA and the European Union.
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SORS Conference
June 19th-21st, 2013
Sarajevo, Bosnia and Herzegovina
 SORS
- The Ex-Yugoslavian Insurance Markets Conference Is Starting Today
by andreea.ionete@mxp.ro, 2013-06-20
The annual meeting gathering representatives from insurance markets
in the ex-Yugoslavian region, SORS, is starting today in Sarajevo
and is focusing on the role and functions of a healthy competition.
XPRIMM Publications is a Media Partner for the third consecutive
year, with Sergiu COSTACHE, President, Media XPRIMM, Daniela GHETU,
Editorial Director, PRIMM Publications and Vlad BOLDIJAR, Coordinator
XPRIMM.COM and XPRIMM Insurance Report as delegates.
More
13th International Yalta Finance Forum
September 17th-21st, 2013
Yalta, Ukraine
Yalta Intourist Hotel
Organizer: Perspektiva Business
Strategy Centre with support of League of Ukrainian Insurance Companies
Media Partner: XPRIMM Publications
For details: www.cbs.org.ua |
| POINT
OF VIEW |
 Elkhan
GULIYEV
Executive Director
Compulsory Insurance Bureau
Azerbaijan
It is a fact that the recent development achieved in the compulsory
insurance market in Azerbaijan is closely connected with the adoption
of the new Law. Since 2011 with the enforcement of the Law, the number
of compulsory insurance agreements has been significantly increased.
However, the increase mainly relates to the compulsory civil liability
insurance of motor vehicle owners.
More |
| STATISTICS |
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