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NEWS ALERT
October 23rd, 2012
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BADEN-BADEN NEWS ALERT BREAKING NEWS
SWISS Re: Reinsurers are becoming strategic advisers
by mihaela.circu@mxp.ro, 2012-10-23
As insurers are struggling to overcome the challenges in the domestic markets, reinsurers are helping their clients to find opportunities. This can mean even launching new products or identifying acquisition targets. A consequence of this is that the discussions are taking place at a higher hierarchy level.
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HANNOVER Re: Reinsurance demand in Germany to increase
by mihaela.circu@mxp.ro, 2012-10-23
Overall demand for reinsurance in Germany is likely to increase at the key 1 January renewals, according to reinsurer HANNOVER Re. It said it expected demand for catastrophe cover to increase overall due to "the more exacting equity requirements" imposed on insurers by Solvency II, as well as by changes to catastrophe models. Overall, HANNOVER Re expectes stable-to-rising prices in the German market for the upcoming treaty renewals. However, the outlook varied across different lines of business.
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All eyes on CEE region: Southern Europe grows short on suitors
by mihaela.circu@mxp.ro, dimitrios.tsoulias@mxp.ro, 2012-10-23
According to Marc BECKERS, Head of Europe, the Middle East and Africa at AON Benfield Analytics those that will be able to obtain a multiple on book value in the present economic environment will be acquisition targets in strategically attractive regions with Central and Eastern Europe and emerging markets will be seeing the greatest return.
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Euro Crisis boosts underwriting results for Greece's motor insurers
by mihaela.circu@mxp.ro, dimitrios.tsoulias@mxp.ro, 2012-10-23
In spite the fact that Motor insurers in Greece are worst affected by the financial crisis, are seeing substantial improvements in their results as austerity measures force people out of their cars and send loss ratios plummeting.
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QBE Re is looking for an expansion in Eastern Europe
by mihaela.circu@mxp.ro, dimitrios.tsoulias@mxp.ro, 2012-10-23
QBE will begin considering pans to expand its reinsurance operations into Eastern Europe next year, given expectations of an increase in the size of bodily injury claims.
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Daniel TUDOR was voted by the Parliament as President of ISC - the Romanian Insurance Supervisory Commission
by andreea.ionete@mxp.ro, 2012-10-23
With 246 favorable votes in the assembled chambers of the Romanian Parliament, Daniel TUDOR, approved for this position during the meeting of the Reunited Commissions of Budget and Finance in the Senate and Deputy Chamber held yesterday, was elected President of ISC - the Romanian Insurance Supervisory Commission for the next 5 years.
Out of 427 Parliament members, 275 were present at the assembly, and 248 valid votes were expressed regarding the naming of Daniel TUDOR as President of ISC.
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