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NEWS ALERT
February 13th, 2012
 
 
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NEWS ALERT
Unit-Linked plays the leading role in the CEE life insurance market
Life insurance products linked to investment funds (usually known as Unit-Linked life insurance) seem to be more and more popular in the CEE region. According to the 3Q2011 data available, the y-o-y nominal growth rate calculated in Euro for this line of life insurance products was of 11.73%, showing a significantly better dynamic than the entire life insurance segment which recorded a slightly negative trend. Calculations made by xprimm.com in local currency demonstrate the same trend, only "translated" in positive figures, as UL insurance GWP grew by about 18.5%, while the entire life insurance segment recorded some 4.3% growth. As a result, UL life insurance line represents now a roughly 40% share of the entire CEE life market.

Access www.xprimm.com and download the 3Q2011 Unit-Linked Life insurance indicators.

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CZECH Rep: dropping motor insurance prices cast the market in negative territory
After succeeding to surpass the crisis' peak without leaving the positive territory, the Czech insurance market ended its 2011 "in red", for the first time after many years of growth. According to the statistics recently published by CAP (Czech Insurers Association), its member companies, accounting for a 98% share of the domestic market, collected Kc116.3 billion in premium, which is a 0.3% lower figure than in 2010. In European currency, the GPW volume reached EUR 4.51 billion, 3.15% down as compared to 2010, being also negatively impacted by the 3% y-o-y depreciation of the Czech Kroon's exchange rate.

Access www.xprimm.com and download the FY2011 Czech Republic insurance market statistics.

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CROATIA: 2011, another year of crisis for insurance business
In 2011 insurance companies operating in Croatia recorded GWP of HRK 9.14 billion (EUR 1.21 billion), 1.08% less compared with 2010, according to financial data published by Croatian Insurance Bureau (HUO). In absolute values, out of a HRK 100.3 million decrease, HRK 73.8 million related to non-life insurance, while the HRK 26.5 million decrease related to life assurance.

Access www.xprimm.com and download the FY2011 Croatian insurance market statistics.

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ALBANIA, FY2011: GWP over the EUR 60 million threshold
Albania's insurance market grew in local currency 2.3% in 2011 compared to the previous year (excluding reinsurance written premiums), according to data published by Albania's Financial Supervisory Authority (AFSA). In European currency, insurance premium revenues were about EUR 60.01 million. At the same time, the number of insurance contracts was of 1,306,602, up by 77.5% compared with year 2010.

Access www.xprimm.com and download the FY2011 Albanian insurance market statistics.

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AZERBAIJAN: mandatory lines drove insurance market up 37% in 2011
Azerbaijan-based insurance companies posted in 2011 an impressive double digit nominal y-o-y growth rate of 37%. Denominated in European currency, the 2011 GWP figures show even a higher dynamic, of 42%, due to an almost 4% strengthening of the Azeri currency, Manat (AZN). Thus, the GWP volume reached EUR 209.26 million, of which a share of about 26% comes from the mandatory insurance lines, including MTPL.

Access www.xprimm.com and download the FY2011 Azerbaijani insurance market statistics.

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KAZAKHSTAN, 2011: The market entered "the first billion euro" area
In 2011, the gross premiums written by the 38 insurance companies in Kazakhstan increased in local currency by 29.32%, reaching KZT 198.50 billion (EUR 1.04 billion), compared to KZT 153.50 billion (EUR 786.24 million) in 2010. Claims paid by insurers amounted to KZT 46.14 billion (EUR 241 million) according to official data published by the Supervisory Commission of Financial Markets.

Access www.xprimm.com and download the FY2011 Kazakh insurance market statistics.

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