 TOP
NEWS |
 ALLIANZ
FY2013: 83 million clients worldwide and over EUR 10 billion
operating profit with a stable outlook for 2014
by daniela.ghetu@mxp.ro, 2014-02-27
ALLIANZ Group's preliminary figures for 2013 show revenues of EUR
110.8 billion, 4.1 up y-o-y. Excluding foreign currency exchange
and consolidation effects, revenue growth amounted to 4.7%. The total
number of customers insured by ALLIANZ increased over the same period
by five million to over 83 million. Operating profit reached EUR
10.1 billion, 7.8% up y-o-y. Net income attributable to shareholders
increased by 14.6% in 2013 to EUR 6 billion.
 More  Продолжение
 TURKEY
FY2013: the Turkish Lira devaluation overshadows the double-digit
market growth and raises concerns for the future
by daniela.ghetu@mxp.ro, 2014-02-27
The 20% devaluation of the Turkish Lira (TRY) against the European
currency in the last 12 months has made the local insurance market's
results for 2013 look completely different when denominated in TRY
or EUR: from a 22% GWP growth rate calculated in local currency,
to about a 2% decrease of the same indicator denominated in euro.
Thus, the 2013 overall premium production amounted to TRY 24.23 billion
(EUR 8.24 billion), with a quasi even dynamics on both the life and
non-life segments.
More
 HUNGARY
FY2013: a positive GWP evolution for the first time since 2008
by daniela.ghetu@mxp.ro, 2014-02-27
For the first time in the last five years, the Hungarian insurance
market ended the year with a positive change in the GWP volume, regardless
of the currency in which it was calculated. Thus, in 2013 GWP amounted
to EUR 2.7 billion, 3.35% up y-o-y or HUF 801.2 billion (5.34% up
y-o-y). Paid claims dropped by 3.3% (1.5% in local currency), to
EUR 1.89 billion.
More |
 AXA
FY2013: Business growth in all segments and improved profitability
by daniela.ghetu@mxp.ro, 2014-02-27
The total revenues achieved by AXA in 2013 were up by 2%, driven
by growth in all business lines, as the French Group's representatives
recently stated. "The
numbers are showing that the performance is a high quality one. The
business is growing in all business segments, the margins have improved
and this is leading to operational earnings going up by 18%. We have
also progressed with the achievement of the key initiatives of Ambition
AXA, our strategic plan." AXA's Chairman & CEO, Henri de Castries, commented on the 2013 results.
More
 CROATIA
Osiguranje: A EUR 3.1 million loss due to a consistent fall in the
real estate prices in Croatia
by daniela.ghetu@mxp.ro, vlad.boldijar@mxp.ro,
2014-02-27
CROATIA Osiguranje (CO) ended 2013 with a consolidated net loss of
about EUR 3.1 million (HRK 24 million). "We
had to finally make a consistent impairment of real estate properties'
value, which significantly affected the profit of the company. In
fact, CO's earnings from the core business would be far above the
planned amount," explained Kresimir STARCEVIC, CEO of CROATIA Osiguranje. One should note that
Croatia recorded a y-o-y 16.9% fall in real estate prices as measured
by the House Price Index, in 3Q 2013, the biggest in EU, according
to Eurostat data.
More
 ROMANIA:
Political turmoil puts in the limelight the insurance markets' weak
points
by daniela.ghetu@mxp.ro, 2014-02-27
The last months brought at the forefront of
the Romanian financial markets a huge scandal involving allegations
of fraud, corruption and unfair business practices: ASTRA Insurance,
the market leader in terms of turnover, was placed under special
administration, members of the CARPATICA Insurance Board are part
of a case which involves bribery and trading influence, while some
of the top representatives of the Financial Supervisory Authority
(ASF) are also prosecuted by the National Direction for Anti-corruption
(DNA) in a criminal investigation for abuse of office and fraudulent "protection" of CARPATICA's interests.
More
 ROMANIA:
ASTRA Insurance under special surveillance and administration procedure
by daniela.ghetu@mxp.ro, 2014-02-18
The Romanian Financial Supervising Authority announced last week,
in a press conference, its decision to launch the financial recovery
procedure for ASTRA Insurance. The company will function under the
special management regime. KPMG Advisory has been appointed special
administrator, with a mandate to ensure the company's financial recovery.
More Продолжение
 The
GREEK market closed the year with a 9.4% decrease y-o-y
by vlad.boldijar@mxp.ro, 2014-02-27
In 2013, the Greek insurance market totaled EUR 3.84 billion, 9.4%
less y-o-y, according to the figures presented by the Hellenic Association
of Insurance Companies (HAIC). The life insurance segment decreased
by 14.1% y-o-y to approximately EUR 1.64 billion, basically still
being one of the most affected insurance business line by the global
economic and Eurozone debt crises. For the future insurance analysts
forecasted an increase for the life GWP, but this projection is subject
to a gradual improvement in the economy.
More
 LITHUANIAN
market totaled more than half a billion euro in 2013
by vlad.boldijar@mxp.ro, 2014-02-27
Lithuanian insurance market increased to EUR 563 million (LTL 1.95
billion) in 2013 from the previous year, as reported by the Bank
of Lithuania. Non-life insurance accounted for 68% of all market,
increasing
by 8.7% to EUR 382 million (LTL 1.32 billion). The number of policyholders
increased by 4% to around 5.25 million, due to the 4% increase in
the non-life insurance segment to around 5.2 million.
More
 MOLDOVA,
FY2013: The insurance market increased by 8.5%
by alina.ciobanu@mxp.ro, 2014-02-27
The Moldavian insurance market remained on a positive trend last
year, with a GWP increase of 8.49% to MDL 1.18 billion (EUR 70.6
million), compared with MDL 1.09 billion (EUR 69.9 million) in 2012,
according to the preliminary figures published by the National Commission
for Financial Markets of the Republic of Moldova (NCFM).
More Продолжение |
 ESTONIA:
Life and health insurance promotion through tax incentives needed
for dealing with the raising occupational accident statistics
by daniela.ghetu@mxp.ro, 2014-02-27
In recent years the number of occupational accidents recorded by
the Estonian Labor Inspectorate grew continuously, from about 3.000
in 2009 to approximately 4.000 in 2013. Only last year SEB Elu-ja
pensionikindlustus registered 33 occupational accidents, paying its
clients over 12.000 euro, the insurers' representatives told the
Baltic Course. In this context, Estonian employees are severely under-insured
for the risks arising from their occupational profile.
More
 SWISS
Re celebrated its 150 anniversary with increasing profitability and
record bonuses for shareholders
by daniela.ghetu@mxp.ro, 2014-02-27
SWISS Re announced the conclusion of the fiscal year 2013, the year
that celebrated 150 years of its existence, with a net profit of
USD 4.4 billion. This result was mainly driven by the high profitability
achieved for the Property & Casualty
(P&C) business lines. "We are very happy that we have achieved so much in financial terms in our anniversary
year and, while we are well aware of the challenges ahead, we look
forward to 2014 with confidence," stated the CEO of Swiss Re's Group, Michel M. LIES.
More Продолжение
 AEGON's
Q4 net profit dropped 60%
by vlad.boldijar@mxp.ro, 2014-02-27
The Dutch insurer AEGON reported a 60% y-o-y drop in its Q4 2013
net profit to EUR 174 million, from EUR 431 million in the same quarter
of last year. "The
net income decreased to EUR 174 million as higher losses from fair
value items and other lower income more than offset higher underlying
earnings and lower impairments," company officials stated.
More Продолжение
 ZURICH
FY2013 business operating profit up by 15%
by vlad.boldijar@mxp.ro, 2014-02-27
ZURICH Insurance Group reported a business operating profit of USD
4.7 billion (15% more y-o-y) and a net income attributable to shareholders
of USD 4.0 billion (4% more y-o-y) for the year ending on December
31, 2013. "We
delivered a solid operating profit in all core businesses, with good
growth in the priority General Insurance and the Global Life markets,
and FARMERS focusing on implementing its new consumer strategy, while
at the same time delivering resilient margins," said Chief Executive Officer Martin SENN.
More
 RUSSIA:
S&P affirmed TRANSNEFT's rating at BBB - after the company's acquisition by SOGAZ
by alina.ciobanu@mxp.ro, 2014-02-27
At the start of December 2013, Russian insurance group SOGAZ acquired
98.91% of the insurance company TRANSNEFT from Russian oil pipeline
company OAO AK TRANSNEFT in a bid totaling RUB 9.40 billion (~EUR
209 million) . VNESHPROMBANK, SOGAZ's only competitor in the deal,
offered RUB 8.5 billion, but this price for the stake equaled an
annual premium of the insurer - RUB 8.34 billion.
More Продолжение
 AZERBAIJAN:
AtaSigorta to increase its capital by 32% in 1H2014
by alina.ciobanu@mxp.ro, 2014-02-27
The Azerbaijani insurance company AtaSigorta plans to increase its
share capital by 31.6% to AZN 10 million (~ EUR 9.64 million), until
the end of the first half of 2014, according to Museib ALIYEV, Chairman
of the Board of the company. The current authorized capital is AZN
7.6 million.
More Продолжение
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| PRESS
CUTTINGS |
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| EDITORIAL |
 News
to come
What do Istanbul, the huge metropolis on the shores of the Bosphorus,
and Brasov, the charming city in the heart of the Carpathian Mountains
have in common? Probably nothing, as some would say. Still, from
an insurance professional's perspective, there is more than meets
the eye, as they are both hosts to some must-attend spring events
for the insurance industry and they provide the launching stage for
the latest studies regarding the CEE and CIS markets.
More
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| INTERVIEW |
 Tobias
SCHNEIDER
Consultant
FINACCORD
FINACCORD does not see any structural differences in bancassurance
per se between Western and Eastern insurance markets in Europe. In
fact, in a number of Eastern countries such as Poland and Turkey,
bancassurance has been one of the main success stories in recent
years. Moreover, in countries where foreign banking groups have a
large share of the market (e.g. in the Czech Republic), bancassurance
markets look quite similar to Western countries.
More
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| STATISTIC
UPDATES |
| EVENTS |
|
Risk Management - From theory to practice
March 12, 2014
Palace of the Parliament, Human Rights Hall
Bucharest, Romania
Organizer: Media XPRIMM
For more details: www.xprimm.ro
European Conference on Consumer Protection in
Financial Services
March 13, 2014
Palace of the Parliament, Romania
Keynote Speakers: Mr.
Gabriel BERNARDINO, Chairman, EIOPA and Peter BRAUMULLER, Chair,
IAIS Executive Committee
Organizers: UNSAR and APPA
For more details: www.xprimm.com
International Conference on Agricultural Insurance,
Reinsurance and Brokerage for CIS, Europe & Asia
March 24-26, 2014
Kyiv, Ukraine
InterContinental Hotel
Organizer: Agroinsurance International
Media Partner: XPRIMM Publications
For details: www.agroinsconf.com
2nd Annual Claims Forum
March 27-28, 2014
Prague, Czech Republic
Organizer: Fleming Europe
Media Partner: XPRIMM Publications
For details: finance.flemingeurope.com
IIF 2014 - International Insurance Forum
April 6-7, 2014
Istanbul, Turkey
Pera Palace Hotel
Media coverage: XPRIMM
Publications
For details: www.internationalinsuranceforum.com
XVIII All-Russian Reinsurance Conference - "National
peculiarities of Russian reinsurance"
April 8-9, 2014
Russia, Moscow
President-Hotel
Organizer: All-Russian Insurance
Association (ARIA), Reinsurers' Committee
Media Partner: XPRIMM Publications
For details: www.en.re-conference.ru
2nd Annual Life Insurance Forum
April 9 - 10, 2014
Amsterdam, Netherlands
Organizer: Fleming Europe
Media Partner: XPRIMM Publications
For details: finance.flemingeurope.com
X - Annual International Risk Management Conference
April 10-11, 2014
Almaty, Kazakhstan
Organizer: JSC Eurasia Insurance
Company
Media Partner: XPRIMM Publications
For details: www.theeurasia.kz
VIII International Conference "Insurance
in Central Asia"
April 15-16, 2014
Holiday Inn Hotel
Almaty, Kazakhstan
Organised with the support of the Kazakhstan Association of Insurers
Media Partner: XPRIMM Publications
For details: www.allinsurance.kz
7th Tashkent International Conference on Insurance
and Reinsurance
May 19th-23rd, 2014
Taskent, Uzbekistan
Organizer: SAIPRO
Media Partner: XPRIMM Publications
For details: www.saipro.uz
FIAR 2014 - The International Insurance - Reinsurance
Forum
May 25-29, 2014
Brasov, Romania
Organizer: Media XPRIMM
Media coverage: XPRIMM
Publications
For more details: www.fiar.ro
4th Annual Africa Insurance & Reinsurance
Conference - AIRC 2014
June 10-11, 2014
Nairobi, Kenya
Media Partner: XPRIMM Publications
For details: aidembs.com
AIIF - 2014 Azerbaijan International Insurance
Forum
June 19-20, 2014
Baku, Republic of Azerbaijan |
| STATISTICS |
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