| EIOPA: European insurers are stable, but a new financial turmoil may have a stronger impact on the industry
by firstname.lastname@example.org, 2012-06-15
The majority of insurance companies in the European Economic Area are well capitalized according to the current regulation (Solvency I), as by the end of 2011 they were on average capitalized at 200% of required levels. However, their capitalization and profitability are facing now a slightly decreasing trend, reveales the biannual report on the financial stability published on June 11, by EIOPA. This conclusion is based on the analysis of 20 largest European insurance groups.
Insurance Bureau, 1Q2012: GWP continued to fall
by email@example.com, 2012-06-20
According to the data of the Croatian Insurance Bureau, the amount of insurance
premiums written in the insurance market over the first quarter of 2012 made
up HRK 2.53 billion (EUR 338 million), which was, in local currency, 0.8% less
than over the same period last year. At the same time, Croatia's 27 insurers
paid claims for the amount of HRK 1.12 billion or 5.34% more than a year ago.
1Q2012: Unit-linked products kept the market on course
by firstname.lastname@example.org, 2012-06-20
Total premium production of the Greek insurance market for the 1Q 2012 appears
to be reduced by 5%, but on the other hand in the Life associated with investments
insurance branch premium production has increased by a staggering 79%, according
with the research conducted by HAIC (Hellenic Association of Insurance Companies).
CIUREL is the new President of AXA Insurance Hungary
by email@example.com, 2012-06-14
Violeta CIUREL, CEO AXA Life Insurance Romania will also take over, starting
July 1st, as President of AXA Insurance Hungary, further coordinating both Easterns
subsidiaries of the French group. Jacques MAIRE, the current President of the
Hungarian company will return to Paris, after a three years mandate. "I
am pleased and honored by this appointment. Hungary is a challenging market,
but I am very motivated and I also believe that opportunities and successful
business always arise if you're affraid of discipline and systematic work. I
trust my new colleagues in Hungary have these skills and our joint efforts will
pay off", said Violeta CIUREL.
AZERBAIJAN, 1Q2012: Spectacular growth and a new leader
by firstname.lastname@example.org, 2012-06-12
In January-March 2012, the Azerbaijani insurance market has increased in European currency by 78% to EUR 77.8 million. Of the revenues, EUR 9.1 million was gained from life insurance, while EUR 68.7 million on non-life insurance. At the same time, The State Insurance Supervision Service under the Ministry of Finance reported that in 1Q2012, total volume of payments of all 28 insurance companies in the country made EUR 15.9 million.
From red (FY11) to black (1Q12)
by email@example.com, 2012-06-12
Following negative figures registered during the whole year 2011, the insurance
sector saw growth momentum into first quarter of 2012. Practically, Georgian
insurance industry ended 1Q2012 with a respectable growth of 67 per cent over
the previous year.
Germans from GOTHAER buy from Constantin TOMA 67% of PLATINUM: Our strategic
aim is profitable growth!
by firstname.lastname@example.org, 2012-06-21
The German insurance company signed for the acquistion of 67% of the share capital
of the Romanian company PLATINUM Asigurari, owned by Constantin TOMA, the former
President of OMNIASIG. At the moment, the notification documentation for CSA
is put together in order to obtain the Commission's approval for this transaction. "We
strongly believe in the long-term attractiveness of the Romanian insurance market.
Especially the membership in the EU will have strong positive effects for the
country. We expect a development of Romania similar to what we have seen in Poland
over the last 20 years", Jurgen MEISCH, Chief Financial Officer, GOTHAER Group declared.
1Q2012: GWP rose 14%
by email@example.com, 2012-06-20
According to data of the Insurance Supervision Agency of Montenegro, gross premiums
for the 12 insurance companies totaled EUR 15.6 million at the end of March,
up 14.2% in relation to the same period of 2011.
A bancassurance premiere from Zavarovalnica TRIGLAV and ABANKA
by firstname.lastname@example.org, 2012-06-21
"Potential policyholders will demand more and more comprehensive services. So
the future is in combined insurance packages that include the products of insurance
companies, banks and investment funds",
stated Matjaz RAKOVEC, President of the Management Board of Zavarovalnica Triglav,
on the occasion of a press conference held by ABANKA and Zavarovalnica TRIGLAV,
during which the two partners have announced the launching of a new bancassurance
product and an enlargement of their traditional collaboration. He also emphasized
that "with its recognizable brand name, TRIGLAV is setting trends in Southeast Europe
and offering to policyholders user-friendly and beneficial services".
2013 - the year when the IT system and Bonus-Malus are implemented
by email@example.com, 2012-06-12
At the General Assembly of the Russian Union of Motor Insurers,
amendments to the Rules of Professional Activity were approved: one
cannot conclude a MTPL contract without having been provided first the
complete information regarding the previous contract, in order to
complete the IT system's database. This new IT system will also
facilitate the introduction of the bonus-malus system, which mainly aims
drivers discipline by giving a bonus or a malus based on their claims
HDI-GERLING recorded 27% increased profit
by firstname.lastname@example.org, 2012-06-21
Profits before taxes of the According Greek branch of HDI-GERLING for the fiscal
year of 2011, reached EUR 6.2 mil, increasing y-o-y by 27% (EUR 4.9 mil in 2010).
After tax profits closed at EUR 5 mil from EUR 3.8 mil in 2010. The results are
in line with HDI-Gerling Hellas' goal of continuing its successful course against
a harsh economic environment, remaining between the most profitable insurance
companies in Greece for the last years.
summer starts in Caucasus
Less than two week until the AIIF 2012 start! So, before thinking to the well
deserved summer holiday, don't miss the two full business days proposed
by the AIIF organizers, which may open for you a promising new growth
Slovak Insurance Association
The insurance companies responded to the crisis
mainly between 2009 and 2010 - they developed the new products
or modified the existing ones for the retail and business customers
in order to help to overcome the consequences of the financial
crisis: the drop in production, the problems of some subject to
meet their financial liabilities, the unemployment etc. Read
Insurance Report FY2011
Depending on the local factors, the economic development in the
CEE and CIS regions was uneven, but some characteristics are
common in most countries: an economic slowdown in the last part
of the year, predicting a lower dynamic for 2012, not spectacular
inflation rates, but rather high unemployment figures and weak
purchasing power of the population. In this context, the insurance
markets’ evolution was faily different, mostly depending on the
growth model followed
by the local economies.
your copy now!
AIIF - 2012 Azerbaijan International Insurance
"New Perspectives in the Caucasus Region"
July 4th-5th, 2012
Baku Business Center
Organizers: Azerbaijan Insurers Association and Media
AIIF stands as the most important
event in the Caucasus Region, dedicated to the insurance and reinsurance
markets, focused on the main development trends and perspectives
within the Region.
Baden - Baden XPRIMM Reception
October 21st, 2012
Kurhaus Casino, Runder Saal
33rd Baden-Baden Meeting 2012
October 21st-25th, 2012
November 14th-16th, 2012
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com
Deputy Chairman of the Council of the League of
Despite the positive macroeconomic changes, the insurance market
in Ukraine did not reach the level of the EU insurance markets, regarding
the ratio of the GDP net insurance premiums: in 2011, the index was
1.3%, while in 2008 - 1.7%. In developed markets, the index is somewhere