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XPRIMM News - THE ROMANIAN INSURANCE MARKET NEWSLETTER
No. 165, October 7th, 2010
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EDITORIAL


Red Alert for Motor Hull

First quarter of the year brought in close-up, once again, the MTPL insurance class as main segment of the market and, also, as the one that has generated its new leader.

The first half has brought an apparent slowdown of the market decline, if we compare the results to the first six months of last year. If we also look at the second quarter of 2010, we realize that, in fact, the market decline is deepening.

However, it is not the underwritings decrease that should be the main concern of the market, but the fact that first half figures indicate a worrisome situation on the Motor Hull insurance segment.

Thus, the claims value on the above-mentioned class - continuously growing, has exceeded the underwritings level - steadily declining, with half a million euro. The figures of the companies also reveal that this reality was generated by 12, which is over half, of the 23 companies that sell this policy.

Therefore, a constantly debated danger, the increasing claims ratio, begins to have visible effects on the market figures and on the results of many companies. So far, shareholders have compensated, by share capital increase, these effects. From now on, due to the crisis, it will be harder and harder for them to do so.

In this context, two main questions are raised: what is there to be done and what other effects will companies have to suffer if this trend persists?

by alex.rosca@mxp.ro

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INTERVIEW


Interview with Richard NATHSCHLAEGER
Vicepresident and Central Europe Director
AUDATEX


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XPRIMM: How would you describe AUDATEX's activity in Central and Eastern Europe?
Richard NATHSCHLAEGER:
I would say that for us, it's a very demanding and very fruitful activity. When I started working in 2003 for AUDATEX, as a Region Manager, we were active in four countries in the CEE area and over the last seven years we have managed to extend our business to eighteen countries. In ten countries we have our own operations, our own entities with our own staff and personnel and in the other eight countries we are servicing out of hubs like AUTOVIENNA. In the present, we are planning to go further East in all the CEE area, we want to go to Uzbekistan, Kazakhstan, and basically the hub for these will be Russia. So we see it as a region full of opportunities, even during the crisis our business was quite stabile, shrinking only in one local market and on the other markets we grew, despite the crisis. And we have proved, especially in those hard days, that we can save a lot of money for our customers and that is why we are convinced we will be successful in the future as well.

XPRIMM: Because we are in Ukraine right now, how important is this country for AUDATEX at this moment?
R. N.:
Ukraine is still underdeveloped, we are not yet at the level we would like to be, but Ukraine belongs to the five biggest potential markets in Central and Eastern Europe - due to the fact that it is a big country, with big population, with big car fleet - so, we see a lot of opportunities in the future, even if we are not yet there.

XPRIMM: Because you said that this is a particular market, what could you tell me about the approach used by AUDATEX? Is it different than in other countries?
R. N.:
No, we basically pursue the same strategic approach. We cooperate especially with big insurance companies, whose customers request the use of our system. We are partners with insurance companies, big body shops and big important networks. It is in this context, in this community that we are working. It is basically the same approach we have pursued in Romania, for instance.

XPRIMM: Regarding Romania, AUDATEX has been present on the market for five years now; how do you see the development in this country?
R. N.:
We have been present in Romania for five years now. On the 26th of October 2005 we had the official inauguration party and we also signed the very first two contracts on this date. The development in Romania has been extraordinarily positive; it is by far our most powerful and fastest developing country in the region. We had our first potential customer visits in July 2003, preparing the system, doing pilot tests with the first potential customers took us one and a half years, and then we started in the summer of 2005 and from then on, in five years, did Romania become a successful country. We have eight out of the top ten insurance companies as our customers and we have more than 1,300 body shops that are working with our system. So we are very successful in Romania, we are very proud of this organization.

XPRIMM: What would be AUDATEX's advantages when compared to the tough competition on the Romanian market?
R. N.:
Our big competitive advantage is first of all the much better database, we had it localized and fully translated in Romanian faster than other competitors. Our depth of data is much better than that of our two local competitors. Thirdly, and maybe most importantly, we were the first to invest heavily in the market - investing in people, building up an organization - and this has been paying off now. It is our very firm commitment to the Romanian market, as a very strategically important market.

XPRIMM: How did AUDATEX help its clients in times of crisis?
R. N.:
As I mentioned earlier, regarding also the customers in Ukraine, using our system does not mean a "cost center", but as I would say we are a "cost saving center". If they invest in us we can clearly show that we can reduce their operational cost by applying our systems. We are not only doing this for our body shop customers. Once they agree to work with our system, they become partners in a preferred insurance network, they have many advantages and they get guaranteed business. So, in times of crisis when body shops are not sure if they can get new jobs, our big insurance companies, knowing that those guys are contracted by us, have a very safe business. So we help both sides: on one side, we can help save money, reducing process costs, and on the other side we could demonstrate that if you are part of this community you shouldn't worry about the crisis, because you will still get your business.

XPRIMM: What about your objectives for the next period?
R. N.:
Well, in Romania, as in all the other startup countries, we start with what we call a "basic estimative bundle", so our system only delivers the capturing of the damage, car identification by vehicle number and the calculation. This is a very basic bundle. System wise, we could provide everything from first notification to the settlement claims value chain. So, what our colleagues in Romania will do now is to present further solutions to our customers, details such as: what is in it for you, how much the saving will be for you if you apply a new product or a new service, and to go into broadening our service portfolio. This is our next strategic step.

XPRIMM: Thank you!

by vlad.panciu@mxp.ro,
andreea.state@mxp.ro

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Richard NATSCHLAEGER
Richard NATHSCHLAEGER
Vicepresident and Central Europe Director
AUDATEX

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The International Insurance Conference in Turkey is taking place amid a spectacular growth of the profile market
The first half of 2010 represented a major underwritings increase of 25% for the Turkish insurance market, the total figure rising to EUR 3.71 billion (in the first half of 2009, the same indicator rose to EUR 2.98 billion). Also worthy mentioning is the positive dynamic of all insurance classes.
It is on this context that sets the stage for the second edition of the International Insurance Conference of Istanbul, organized by the Insurance Association of Turkey.
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by oleg.doronceanu@mxp.ro, 30.09.2010



Constantin TOMA:"El Dorado" is over. It's time to start working
"Things have started to settle. The, sometimes, immeasurable urge of gaining market share can lead to the compromise of the entire industry. The managers must become more aware of the fact that the absolute priority is generating profit for those that have invested and have risked their money, and not securing a larger market share, which, by all means, does not justify "a gold rush". I say no more "El Dorado", it's time to start working", stated Constantin TOMA, President of OMNIASIG, in an exclusive interview for XPRIMM TV, on the Company's 15th anniversary.
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by alex.rosca@mxp.ro, mihai.cracea@mxp.ro, 01.10.2010



PAID: 65.000 premiums, in almost three months since launching
In the last week, 9.000 mandatory household insurance premiums have been completed, the total number reaching 65.000 contracts, according to Marius BULUGEA, President, PAID - Pool of Insurance Against Natural Disasters, in comparison to 56.000 at the beginning of last week.
Last week, the medium mandatory household insurance's selling rhythm doubled, from 900 to 1.700-1.800 premiums a day, the evolution being determined also by the sale through brokers increase.
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by andreea.ionete@mxp.ro, 06.10.2010



CEE MARKETS SURVEY in the first half of 2010: Romania dropped to 6th place in CEE
The Romanian insurance marked dropped by one position in the total gross underwritten premiums raking at the Central and Eastern Europe level, being surpassed by the Slovakian insurance market. The downfall of 3.88% recorded by the national insurance market, corroborated with Slovakia's 0.5% increase, created the premises of a position exchange between the two markets. Altogether, Romania's market share in the region decreased from 7.16% in the first half of 2009, to 6.45% in the first half of 2010, according to the "CEE, RUSSIA & CIS 1H 2010 Insurance Regional Survey" report.
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by vlad.boldijar@mxp.ro, 29.09.2010



ALICO businesses increased to EUR 30 million
ALICO Asigurari Romania, the third most important life insurance company on the local market, registered a 10% growth in the first half of 2010, in comparison to the figures of January- June of 2009. According to INSURANCE Profile estimations, the value of the gross written premiums rose to EUR 29.3 million (RON 121.8 million), taking into account the 3% decrease registered in the whole profile market.
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by vlad.boldijar@mxp.ro, 29.09.2010



Efficiency - a "must-have" for all insurance companies
Efficiency should become the key-word in all insurance companies activities, especially for those that do not generate profit (client support, debit collecting etc.). Technically, this would allow resource redirecting towards the sales and promoting sectors of the companies' activities.
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by mihai.cracea@mxp.ro, 24.09.2010



New projects for MARSH Romania
The first half of 2010 for MARSH Romania represented a period of sustained development, in the volume of mediations, as well as regarding other offered services. The company currently owns the most diverse portfolio in the Romanian insurance brokerage market. Concerning the news that MARSH brings to its clients, these are consistent with the company's policy for the past few years: innovation and launching special products, which are consistent with the existing needs. The most recent project of this kind, which is to be launched next month, is a collaboration with RENAULT Group, RCI Banque and three insurance companies for selling personalised motor insurance policies.
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by andreea.ionete@mxp.ro, 29.09.2010



Marius BULUGEA: Brokers contributed to the doubling of mandatory property insurance premiums sale
The daily medium premiums sale doubled in the last week, from 900 to 1,700-1,800 premiums a day, reaching a total of 56,000 premiums, according to Marius BULUGEA, President of PAID - the Pool of Insurance Against Natural Disasters. One explication for this phenomenon is the increase in sales due to broker activities, "that were more active in the selling of these premiums", declares BULUGEA.
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by oleg.doronceanu@mxp.ro, 28.09.2010



EUROINS Romania is relying on product portfolio diversification for growth
Between the 29th of September and the 3rd of October 2010, sixth edition of the EUROINS Romania National Sales Conference was held in Nessebar, Bulgaria. The event was part of the annual meeting of the EUROINS teams, from Romania, Bulgaria and Macedonia.
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by oana.radu@mxp.ro, 04.10.2010



UNICREDIT and ERGO Asigurari de Viata are selling life insurance with performance reported to the S&P 40 BRIC index
UNICREDIT Tiriac Bank and ERGO Asigurari de Viata have announced the launch of a new life insurance product, bearing an investment component, entitled ERGO Oportun. This index-linked life policy offers the possibility of investment through the STANDARD&Poor's 40 BRIC index, based on the evolution of the shares of the 40 most important companies in Brazil, Russia, India and China.
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by andreea.ionete@mxp.ro, 04.10.2010



CITY Insurance estimates twice the business figure in 2010, up to EUR 15 million
The company CITY Insurance will open, by the end of 2010, 30 branches within the country, in the regions where it is not yet present. At this moment, the insurer has 10 functional branches and 60 employees, following that, by the end of 2010, this number will increase to 150. The investment that this development implies goes up to EUR 500.000, according to Nicolae MUSAT, General Manager, CITY Insurance.
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by mihai.cracea@mxp.ro, 30.09.2010



Radu MANOLIU: The mandatory household insurance law is prawn to future modifications
The issue regarding the modifications on mandatory household insurance law is still a topical one for the profile companies involved in this system. "The law is surely be improved upon, this aspect being available for the specific rulings as well; given the existing demands on the market, is likely to see, in the relatively near future, the emergence of specific legislation that clarifies or modifies certain aspects", declared Radu MANOLIU, General Manager, CREDIT EUROPE Asigurari. The company supports the 2010 Edition of ICAR - International Catastrophic Risks Forum, dedicated to the mandatory household insurance implementation, as Official Partner.
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by dora.alecu@mxp.ro, 04.10.2010



OMNIASIG celebrated 15 years of activity
OMNIASIG VIENNA Insurance Group celebrated, on the 30th of September 2010, 15 years of activity on the Romanian profile market, with a grand event at the Parliament Palace.
"After 15 years of sustained efforts of the whole team, we have built a company that is one of the leaders of the Romanian insurance market, but also one of the main 400 contributors to Romania's budget. OMNIASIG contributes with 0.23% to the country's gross domestic product", declared Constantin TOMA, President of OMNIASIG.
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by mihaela.circu@mxp.ro, 01.10.2010



CERTASIG shareholders will discuss a new capital increase, of EUR 5.5 million
CERTASIG shareholders will discuss in the General Shareholders Assembly, programmed for the 28th of October 2010, an increase in capital of EUR 5.5 million or a reduction, down to the level of the assets, according to the published Convocatoria. The goal of this operation is to cover the insurer's financial losses, which rose to RON 30.56 million in 2009.
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by andreea.ionete@mxp.ro, 28.09.2010



20% less mediations in life insurance
In the January-July period of 2010, life insurance represented 4.8% of the total insurance mediation market, the total value adding up to EUR 18 million (equivalent to 9.3% of the total life insurance market). This consists a staggering 19.5% drop as opposed to the first semester of 2009, as stated by INSURANCE Profile.
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by vlad.boldijar@mxp.ro, 27.09.2010

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International Istanbul Insurance Conference



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VIDEO: MILLI Re will be more present in the Eastern European countries over the next few years
Although the main focus of MILLI Re is to develop its business in countries from the Middle East and the Far East, the company has extended its activity in Eastern Europe, where it plans to get more involved over the next 5 years. "3 years ago, our business from abroad generated about 5% of our income, whereas now the figure is close to 20% and we expect the trend to continue", said Hulki YALCIN, General Manager, MILLI Re, in an exclusive interview for XPRIMM TV, at the National Insurance Conference in Istanbul.
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by andreea.ionete@mxp.ro, 07.10.2010



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VIDEO: The Istanbul Conference
The International Insurance Conference in Istanbul was held in the context of the positive dynamic of all insurance classes in Turkey, that registered an underwritings volume increase of 25%.
The Conference took place between the 30th of September and the 1st of October and was organized by the Insurers Association in Turkey.
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by vlad.panciu@mxp.ro, dora.alecu@mxp.ro, 07.10.2010



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VIDEO: With 10 years of experience, the Turkish insurers give Romanians advice on the mandatory household insurance system
Mandatory household insurance can not develop without certain penalty to those who refuse buying such premiums. Such is the opinion of Hulusi TASKIRAN, President of TSRSB - the Insurers Association of Turkey, expressed during an exclusive interview for XPRIMM TV, on the occasion of the Istanbul International Insurance Conference.
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by alexandru.ciuncan@mxp.ro, 01.10.2010

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CEE, RUSSIA&CIS



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VIDEO: EASTERN Re: Solid business in Ukraine and expansion in Turkey
EASTERN Re is one of the most important reinsurance company in Russia, that currently sees Ukraine as the most important market in the Eastern Europe.
The Russian reinsurance companies consider this to have a great business potential due to the large number of figures in the insurance industry (over 400 companies), as well as the area close to Ukraine, according to the Russian historical perspective.
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by vlad.panciu@mxp.ro, 07.10.2010



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VIDEO: UNITY Re: The Russian reinsurance market continues its consolidation
The Russian reinsurance market managed to maintain its stability despite the financial crisis, the main trend at this moment focusing on consolidation. As a result, "many companies unite in order to become larger and capable of accepting more business", stated Dmitri GARMASH, Deputy CEO, UNITY Re, during an XPRIMM TV interview at the Yalta International Forum.
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by vlad.panciu@mxp.ro, oleg.doronceanu@mxp.ro, 01.10.2010



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VIDEO: The Russian reinsurance focus on Eastern Europe
The Russian reinsurance companies consider that the Eastern European markets represent a great business potential, taking into consideration the prices and the lower rating requirements.
Irina POSTNIKOVA, General Director, TRANSSIB Re, the first specialized player from the Russian market, presents the existing situation of the moment.
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by vlad.panciu@mxp.ro, 07.10.2010



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VIDEO: The Yalta Forum - a discussion platform for Central and Eastern European insurers and reinsurers
The international Yalta Forum came to an end on the 24th of September, after a tight schedule packed full with thematic conferences and bilateral meetings, which took place during the event's four day period. 400 guests from 28 countries took part in this year's anniversary edition of the Forum, among which we can count representatives from the Ukrainian insurance surveillance entities but also from abroad, representatives from major insurance and reinsurance companies, as well as numerous financial experts. As is tradition, PRIMM - Insurance & Pensions Magazine was present this year as Media Partner of the Forum and was represented by Vlad PANCIU, International Markets Responsible.
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by vlad.panciu@mxp.ro, oleg.doronceanu@mxp.ro, 29.09.2010



Matteo PEDERZOLI, Regional Director, MDRT Europe talks about MDRT Europe ClassIQ Forum
The MDRT Europe ClassIQ Forum, organized by MDRT Europe, with XPRIMM Insurance & Pensions as Media Partner, is dedicated to the best insurance agents and financial advisers in the world and has as concept how to be successful in every aspect of your life. Help with professionalism development and a greater value for ethics are only two of the many key reasons for which participating at this forum can be benefic for your company. The event will take place between the 2nd and 4th of February 2010 in Athens, Greece.
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by andreea.ionete@mxp.ro, dora.alecu@mxp.ro, 07.10.2010



Russian government sells ROSGOSSTRAKH stake
The Russian government sold a 13.1% stake in ROSGOSSTRAKH to other ivestors of the company, for the amount of USD 285 mil. After this transaction, the Russian government retained a 11,9 share of the insurer.
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by mihai.cracea@mxp.ro, 07.10.2010



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VIDEO: 35% growth for the Uzbekistan insurance market in 1H/2010
The Uzbekistani insurance market registered underwritings growth of 35% for the first semester of this year, adding up to approximately EUR 38.8 million, and it is considered as one of the most dynamic markets in the CIS territory. Thus, "Uzbekistan has been one of the last countries to be affected by the crisis and this has given an impulse to the insurance market", as stated by Dilshod SULTANOV, Director of Analysis and Rating, SAIPRO Uzbekistan, during an exclusive interview for XPRIMM TV at the Yalta International Forum.
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by vlad.panciu@mxp.ro, oleg.doronceanu@mxp.ro, 04.10.2010



151 specialized entities on the Russian reinsurance market
The Russian reinsurance market has been on an upward trend for the past few years, that started with the investment increase and the professionalization measures that were adopted regarding this matter.
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by vlad.panciu@mxp.ro, oleg.doronceanu@mxp.ro, 24.09.2010

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FINANCIAL NEWS


INS: Romanian economy up 0.3 pc in Q2
Data of the National Statistical Institute (INS) confirm estimates published a few weeks ago. According to a release, the economy grew by 0.3 percent in Q2 compared to Q1 of the year. On the other hand, economy was unable to recuperate enough on a year-on-year basis, reregistering a minus of 0.5 percent. In fact, Romania has been in recession since Q3 of 2008, when the GDP started going down. In Q2 this year, the economy gained some strength, mainly thanks to export. Romania-made cars and telephones sold well, therefore the entire sector grew by over 20 percent in H1 this year compared to H1 of last year.
According to INS, in Q2 of 2010, the industry grew by 5.9 percent and compensated for the 8.3 percent decrease suffered by the construction sector. Compared to Q2 of 2009, slight volume growth was also reported in agriculture, hunting and forestry, fishing and fisheries (+0.7 percent) and in financial activities, real estate activities, rentals and services for companies (+0.8 percent).
At the other end, activity volumes dropped in retail, automobile and home appliance repairs, hotels and restaurants, transport and telecom (-4.2 percent) and in other activities and services (-2.7 percent). One consequence of the negative evolution of the whole of the economy is that the volume of per-product net taxes collected by the state budget dropped by 2.7 percent, the press release states.
by nineoclock, 1.10.2010


IALOMITIANU: Social contributions going up from 16.5 pc to 35.55 pc, fair
A self-employed earner will pay the Romanian state at least 25.36 percent of their income in accumulated social contributions. Given a regular Romanian employee pays social contributions equal to 16.5 percent of their monthly pay and intellectual property rights will be, as of January 1, 2011, subject to a tax of 25.36 percent, makes the intellectual property contract useless, according to "Adevarul" daily newspaper.
The employer will remain the sole party to reap the advantage of this form of income payment staying in place, as they are exempted from the paying such contributions. The pension contribution would rise from 10 percent to 24.43 percent, health contribution, from 5 percent to 8.35 percent, and unemployment contribution from 0.5 percent to 0.78 percent respectively. Further more, the bill stipulates contributions for sick leave and health social insurance allowances of 0.85 percent and another contribution, 0.15 percent to 0.85 percent, for work accidents and professional diseases. Not only that, employer Christmas, Easter or March 8 gifts to employees exceeding RON 150 will be subject to social insurance contributions, under the draft ordinance concerned.
The new Ministers of Labour and Finance respectively say the Fiscal Code amendments will be discussed at the government session Wednesday, the 8th of September 2010. Finance Minister, Gheorghe IALOMITIANU, has recently called social contributions being raised from 16.5 percent to 35.55 percent as fair. The Democratic Union of Hungarians in Romania (UDMR) last week called on government to look into the ordinance provisions so that the crowding at windows late last month would be avoided in the future. "It was a government decision, in principle", Environment Minister, Laszlo BORBELY, said. The National Union for the Progress of Romania (UNPR) too does not uphold the bill, in word, at least. "I don't see it necessary given it deals a blow to intellectuals", UNPR Vicepresident, Valeriu STERIU, says, according to whom, once the bill will have been concluded, it will be discussed by the ruling coalition, "Adevarul" writes. Cristian PARVAN, the General Secretary of the Association of Romanian Business People (AOAR), labels Romania's tax policy as "fourth class", with alternatives being circulated at odds with one another. Liberal Senator and Bucharest's NOTTARA Theatre Director, Mircea DIACONU, believes the decisions reflect government's fight against journalists. "Their hatred of journalists is relentless, and we, the artists, are the collateral victims. The government people's only concern is: let's hit them where it hurts, money wise", DIACONU said.
by nineoclock, 6.10.2010


RENAULT opens spare parts centre nearby Pitesti
RENAULT Group opened the largest car parts centre outside the French borders, which will distribute spare parts and accessories for DACIA, RENAULT and NISSAN brands in Romania, in Oarja village, nearby Pitesti (North-West of Bucharest) on Wednesday, the 1st of September 2010.
The centre, strategically located on Bucharest-Pitesti Motorway at kilometre 102, nearby DACIA plant and the suppliers' industrial area, covers a 65,000-square metre area and it is the fourth centre, according to its size, in the RENAULT global network, which comprises 29 such centres.
The spare parts centre manages 70,000 car parts for DACIA, RENAULT and NISSAN brands, from 369 suppliers - 206 from Romania and 163 external ones - and operates deliveries to 110 clients in Romania and in 33 different countries. Nearly 40 percent of the centre's activity is represented by exports, the main destinations being France, Russia and Turkey, while the most important products delivered are represented by oil filters and rims.
by agerpres, 1.10.2010


Net average salary down by 4.7 pc in July
According to a National Statistics Institute (INS) communique, the net average nominal salary stood at RON 1,355 in July, down by RON 67 (4.7 percent) compared to June, Agerpres informs. In the same month, the gross average nominal salary stood at RON 1,868, 4.3 percent lower than the level reported the month before. The highest value of the net average nominal salary was reported in the financial intermediations' sector (RON 3,436), while the lowest was reported in the hotels and restaurants sector (RON 799).
The net average salary reported the following drops in the public system: education system (-22.6 percent), health and social assistance (-19.8 percent), public administration (-14.4 percent). The 25 percent salary cut applied within the public sector was the reason behind the drop in the net average salary there.
In July, the Romanians' incomes were sensibly eroded by inflation, so that the real salary income index stood at 92.9 percent compared to June, INS informs. The Institute points out that the real salary income index was calculated as a ratio between the net nominal salary index and the consumer prices index. According to the INS, average net salary hikes were reported only in the economic sector, in the metallurgy industry (+11.4 percent), in the coal extraction industry (+6-8 percent), the production and distribution of electricity and heating, natural gas, warm water and air conditioning, and in the metal mining industry.
by nineoclock, 6.10.2010

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EVENTS


ICAR - International CAtastrophic Risks Forum
October 12th, 2010
Parliament Palace, Bucharest
Organizers: MAI - the Ministry of Administration and Interior, ISC - Insurance Supervisory Commission, the Prefect Institution of Bucharest and Media XPRIMM
Media Partner: PRIMM Magazine - Insurance & Pensions
Official web-page: www.icarforum.ro


National Insurance Conference - Republic of Moldova
October 19th, 2010
Chisinau, Republic of Moldova
Organizer: Media XPRIMM
With the official support of: The National Commission of Financial Markets
Official web-page: www.xprimm.md


Baden-Baden XPRIMM Symposium
October 24th, 2010
Holland Hotel Sophienpark
Baden-Baden
Organizer: PRIMM Magazine - Insurance & Pensions
Official web-page: www.xprimm.ro


31st Baden-Baden Meeting 2010
October 24th-28th, 2010
Baden-Baden, Germany
Official web-page: www.badendirectory.com


Euro Finance Week
November 15th-19th, 2010
Frankfurt, Germany
Organizer: MALEKI Group
Media Partner: PRIMM Magazine - Insurance & Pensions
Official web-page: www.malekigroup.com


MDRT Europe ClassIQ regional meeting
February 2nd-4th, 2011
Athens, Greece
Organizer: MDRT Europe
Media Partner: PRIMM Magazine - Insurance & Pensions
Official web-page: mdrteuropeclassiq.com

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XPRIMM Newsletters

THE EDITORIAL STAFF:

President: Sergiu COSTACHE CEO: Adriana PANCIU
Business Development Director: Alexandru D. CIUNCAN

Editor in Chief: Mihaela CIRCU
Scientific Advisor: Daniela GHETU
International Column Coordinator: Andreea IONETE
Senior Editors: Vlad PANCIU, Oleg DORONCEANU
Editors: Vlad BOLDIJAR, Oana RADU, Mihai CRACEA, Andreea STATE
Junior Editor: Dora ALECU
General Secretary: Lidia POP

Accounts Manager: Georgiana OPREA
IT Department: Octavian GRIGOR, Dorin PALADE, Cosmin ARMASESCU

e-mail: xprimm@primm.ro

PUBLISHED BY: Media XPRIMM


Reproduction or use without permission of editorial or graphic content, in any manner, is prohibited. The Editorial Staff is not responsible for the truthfulness or the accuracy of the presented data. The Editorial Staff has the right to present the data in it's own manner. In what concerns the use, in any manner, of the information contained in this e-mail, Romanian laws apply.

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