XPRIMM News
 
Insurance Newsletter, No. 209, October 25, 2012

Click here to subscribe!
Click here to unsubscribe!
 
 
            www.xprimm.com
INTERVIEW - TOP NEWS - PRESS CUTTINGS - POINT OF VIEW - EDITORIAL - EVENTS - STATISTICS

TOP NEWS
CEE, SEE, CIS - 1H2012: Ups and downs under the euro crisis pressure
by daniela.ghetu@mxp.ro, 2012-10-25
The 32 insurance markets reviewed by the current edition of XPRIMM Insurance Report recorded a premium production of about EUR 36.7 billion in 1H2012, up by about 6% y-o-y, a meritorious result considering they were once again challenged by the weak economic and uncertain environment. The macroeconomic constraints translated into a generalized governmental eagerness to cut public debt and budgetary deficits which, in turn, brought further austerity measures resulting in a prolonged decrease of the public and private spending, also meaning lower corporate budgets and household allocations for insurance. Voluntary non-life insurance lines and life insurance were the most affected lines.
More

HUNGARY: FoS insurers subjected to the new premium tax starting 2013
by daniela.ghetu@mxp.ro, 2012-10-25
The Hungarian government has approved the introduction of a new premium tax which will come into force on 1 January 2013. According to the global fiscal consulting company FiscalReps, the new tax applies to gross premiums at the rate of 15% on comprehensive "Casco" policies (EU classes 3 to 6) and 10% "accident and property" classes.
More

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.
More Продолжение

EUROPA Re's value added services for the property catastrophe insurance market in Romania
by andreea.ionete@mxp.ro, 2012-10-24
At the ICAR Forum held on 15 October, 2012, EUROPA Re's Head of Business Development, Riccardo CICCOZZI, announced that by the end of 2013, Europa Reinsurance Facility Ltd., a Swiss based catastrophe and weather risk insurance services provider and reinsurance company in the process of formation, intends to offer a state of the art Web-Based Production Platform (with its synchronized supporting applications) to direct insurers in Romania.
More Продолжение

BELARUS Re: Growth of reinsurance profit by five times for the first 9 months 2012
by olesea.adonev@mxp.ro, 2012-10-25
The results of BELARUS Re for the first 9 months 2012 can be described as positive compared to the same period a year ago. Thus, it should be noted growth in reinsurance premiums for the following classes of business: TPL insurance of shipping forwarder (243.1%), aviation risk insurance (167.7%) and Cargo insurance (312.2%), commercial property insurance (331.9%), CAR/EAR (4,906.8%), financial risk insurance (160.5%) and Business interruption (175.9 %).
More Продолжение

CROATIA, 3Q2012: GWP down by 1.7% according CIB
by vlad.boldijar@mxp.ro, 2012-10-24
In the first nine months of 2012, the 27 Croatian insurance companies generated HRK 6.87 billion (EUR 921.8 million) in gross written premiums, an 1.7% lower figure compared to the same period last year, as Croatian Insurance Bureau (CIB) reported.
More Продолжение

Bulgaria, ambitious development for CertAsig
by oana.radu@mxp.ro, 2012-10-22
CertAsig recently announced their intention to extend their underwriting activity in the Bulgarian insurance market following pleasing success in the Romanian and Turkish markets. This latest development involved another enthralling seminar on 16 October, co-hosted with the Bulgarian Embassy in Bucharest. The main topic of the session was construction related insurance products, with a special focus on Bonds, Contractor's All Risks (CAR) and other Engineering insurance products.
More Продолжение

POLAND: WARTA targets a 15% market share in the following years
by daniela.ghetu@mxp.ro, 2012-10-22
Polish insurer WARTA, recently acquired by the German group TALANX and Japanese MEIJI YASUDA, eyes 15-17% market share in the next three-four years after the merger with HDI insurer planned for early 2013, the company's CEO Jaroslaw PARKOT told reporters.
More

CYPRUS, 1H2012: The insurance market has slightly decreased
by vlad.boldijar@mxp.ro, 2012-10-24
The total volume of gross premiums written by the Insurance Association of Cyprus (IAC) members amounted to EUR 420.50 million in 1H2012, representing a slight decrease of 0.44% Y-o-Y.
More Продолжение

AZERBAIJAN, 3Q2012: GWP exceed the 2011 insurers' premiums by 21%
by vlad.boldijar@mxp.ro, 2012-10-24
The total volume of gross written premiums collected by the insurance companies during January-September 2012 amounted to EUR 252.4 million (AZN 256.3 million), up 62.5% compared to 3Q2011, and 20.4% more compared to FY 2011 (EUR 209.3 million), the State Insurance Supervision Service under the Ministry of Finance of Republic Azerbaijan reported.
More Продолжение

EUROINS, 3Q2012: Premiums up 40% Y/Y
by vlad.boldijar@mxp.ro, 2012-10-22
In the first nine months of 2012, the GWP of EUROINS Insurance Group increased by 40%, up to EUR 110.5 million compared to EUR 70.3 million in 3Q2011, according to preliminary data published by the Group.
More Продолжение
BADEN-BADEN NEWS
A sunny Baden-Baden forecasts a good year for the insurance and reinsurance business
by mihaela.circu@mxp.ro, 2012-10-25
Another edition of Baden-Baden Meetings is coming to an end and the general impression is that the previous week was pretty good for the insurance and reinsurance business. The surprisingly sunny Belle Epoque town gathered over 2,000 representatives of insurers, reinsurers, brokers, consultants that looked quite optimistic at future challenges, as nothing seems too difficult after the 2011 "annus horribilis".
More

XPRIMM Insurance Report 1H 2012 launched at Baden-Baden
More Продолжение
Modest evolution for the CEE insurance market in 1H2012
More Продолжение
MONTALVO, EIOPA: 2016, a far more credible Solvency II date
More Продолжение
MUNICH Re: Profitability in core insurance business is what counts in the low-interest-rate phase
More Продолжение
SWISS Re: Reinsurers are becoming strategic advisers
More Продолжение
HANNOVER Re: Reinsurance demand in Germany to increase
More Продолжение
AM Best: The crisis could lead to reinsurance demand increase
More Продолжение
TCIP to renew 5% up
More Продолжение
VIDEO: UNITY Re: We are expecting good business in this season
More Продолжение
VIDEO: GRINDLEY: Our next step abroad will be Bulgaria
More Продолжение
All eyes on CEE region: Southern Europe grows short on suitors
More Продолжение
QBE Re is looking for an expansion in Eastern Europe
More Продолжение
Euro Crisis boosts underwriting results for Greece's motor insurers
More Продолжение
STELLAR Re evening continues the Baden-Baden tradition
More Продолжение

Credit Europe Asigurari
PRESS CUTTINGS
Agricultural insurance to be compulsory in AZERBAIJAN

ARMENIA: Mandatory car insurance compensations hit nearly AMD 5765.3 million in Jan-August

BULGARIA: Insurers 8-mo gross premiums fall 1.2%

CROATIA: MERKUR Osiguranje completes cap hike

ICD eyes stake in first Islamic insurance company in AZERBAIJAN

KAZAKHSTAN: Insurance market develops further

LATVIA: Autumn storms bring early payouts

MACEDONIA: EUROINS Osiguruvanje 9-mo premium income up 6.1%

MAPFRE eyes Middle East expansion with TURKISH acquisition

Number of complaints rises on AZERBAIJANI insurance market

SLOVENIA: Second-largest insurance group to be sold

TURKEY: A.M. Best downgrades ratings of MILLI Re

UKRAINE: LEMMA Insurance Company downgraded

VIG eyes growth in UKRAINE
EDITORIAL

In search for the right answer

The 2012 edition of the Baden Baden Meeting ends today.
Once again top professionals of the insurance and reinsurance markets worldwide reunited in the German luxurious resort of Baden Baden. Trends, estimations, analysis, opinions ... a strong wave of information was released during the week, of which XPRIMM Publications captured for you the most relevant pieces. As for a possible conclusion, please read the present newsletter.
Read More

daniela.ghetu@mxp.ro


BCR Asigurari de Viata
ALICO

INTERVIEW
Dmitriy GARMASH
Deputy CEO
UNITY Re Russia

We will enter 2013 with a new 20% shareholder, so that the key activities will be targeted to adapt their outlook to our development plans. Keeping the leading position in the market and continuing the promotion within CIS and overseas territories are two other major targets for us.
More
JLT
BELARUS Re

STATISTIC UPDATES
Azerbaidjan 3Q2012
Cyprus 1H2012
Croatia 3Q2012

xprimm.com

xprimm.com

EVENTS

ICAR - The International CAtastrophic Risks Forum


ICAR Forum 2012 news!

ICAR Forum 2012 photo gallery!



"EU Insurance regulations - from theory to practice via IT" - an event dedicated to the Romanian insurance market

On October 31st, ASSECO, KOFAX and DELOITTE will organize "EU Insurance regulations - from theory to practice via IT", an event dedicated to the effects of Solvency II upon the Romanian insurance companies and the role of the new IT solutions in preparing for the implementation of this regulation.
More

The November Business Meetings of Reinsurers, to take place in Moscow next month

The November Business Meetings will be held on November 22nd -23rd in Moscow, Russia. The event is organized by All-Russian Insurance Association (ARIA), Reinsurers' Committee, and co-organized by DELOVOY Format Group. PRIMM Insurance & Pensions Magazine supports this event as Media Partner.
More Продолжение


WorldPensionSummit 2012
November 14th-16th, 2012
Amsterdam, Netherlands
Media Partner: XPRIMM Publications
For details: www.worldpensionsummit.com
EIOPA Conference
November 21st, 2012
Frankfurt
Organizer: EIOPA

DOWNLOAD


POINT OF VIEW
Marina SHIPOVALOVA
General Director
INTERCONSULT Info
Kazakhstan

The insurance market has continued to grow in 2012. In my opinion, the positive trend will continue and most likely, the market will show an increase up to 25%, but the quality of this growth depends on very unstable factors.
More Продолжение

STATISTICS
Albania
Armenia
Bosnia Azerbaijan
Bulgaria Belarus
Croatia Georgia
Czech Rep. Kazakhstan
Estonia Kyrgyzstan
Hungary Moldova
Kosovo Russia
Latvia Turkmenistan
Lithuania Tajikistan
Macedonia Ukraine
Montenegro Uzbekistan
Poland  
Romania  
Serbia Cyprus
Slovakia Greece
Slovenia Turkey

Kunden Broker
ASIGEST Broker

THE EDITORIAL STAFF:

President: Sergiu COSTACHE CEO: Adriana PANCIU
Managing Partner: Alexandru D. CIUNCAN
Development Director: Mihaela CIRCU

Project Manager XPRIMM.COM: Daniela GHETU
Coordinating Editor: Andreea IONETE
International Column Coordinator: Vlad BOLDIJAR
CIS Research Consultant: Olesea ADONEV
Senior Editors: Vlad PANCIU, Oleg DORONCEANU
Editors: Oana RADU, Mihai CRACEA
Junior Editors: Adina TUDOR, Dimitris TSOULIAS, Mihai APOSTOL

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

e-mail: media@xprimm.com
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.

Copyright©2012 Media XPRIMM