XPRIMM News
 
Insurance Newsletter, No. 223, June 6, 2013

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INTERVIEW - POINT OF VIEW - TOP NEWS - PRESS CUTTINGS - EDITORIAL - EVENTS - STATISTICS
TOP NEWS
VIG, 1Q2013: 5.2% improvement in the group's profitability
by daniela.ghetu@mxp.ro, andreea.ionete@mxp.ro, 2013-06-06
In the 1Q2013 VIENNA Insurance Group earned consolidated premiums written of EUR 2.7 billion (-1.5% y-o-y), while the Group's profit (before taxes) increased by 5.2%, to EUR 159.4 million. The share of the CEE countries in the Group profit (before taxes) rose by 15.6 percent to a total of 51.5 percent.
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PZU, 1Q2013: Sales boosted by life products; operating profit on the rise
by daniela.ghetu@mxp.ro, 2013-06-06
The PZU group ended the first quarter of 2013 with GWP of PLN 4.425 billion (~EUR 1.06 billion), 2.4% up y-o-y, of which PLN 2.4 billion for non-life insurance (-4.6% y-o-y) and the remaining PLN 2.025 billion for life insurance (+12% y-o-y).
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RUSSIA, FY2012: A significant growth
by olesea.adonev@mxp.ro, 2013-06-06
The Russian insurance market underwent serious changes in 2012, such as witnessing a significant growth of the total insurance premiums while the number of insurers has dropped. Still, the insurance penetration in this country remains relatively low and currently a number of initiatives are under way to help increase demand for insurance.
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XPRIMM Insurance Report FY2012: The 2008-2012 five-year closes in the black for MTPL in CEE. Romania remains the third market in the region
by vlad.boldijar@mxp.ro, 2013-06-06
For the 16 states located in the Central and Eastern Europe region, the MTPL segment represented EUR 5.7 billion at the end of last year, 4% more than in 2011 and 3% more than in 2008, according to the latest edition of XPRIMM Insurance Report.
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ARMENIA, FY2012: Consolidation of insurance market continues
by olesea.adonev@mxp.ro, 2013-06-06
According to preliminary financial data provided by ArmInfo News Agency, on December 31st 2012 gross written premiums recorded by insurance companies totaled AMD 35 billion, up by 75.7%. This significant growth was achieved due to the introduction of two mandatory insurance lines in Armenia, MTPL and the mandatory medical insurance.
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CZECH Rep.: Jaroslav MLYNAR will become the new CEO of CESKA Pojistovna
by vlad.boldijar@mxp.ro, 2013-06-06
Jaroslav MLYNAR will become the new Chief Executive Officer of CESKA Pojistovna (CP), as GENERALI PPF Group (GPH) recently announced. He is replacing Pavel REHAK, who is leaving by his own decision on 31st May 2013, having resigned from all positions and offices.
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UZBEKISTAN, FY2012: Legislative changes contribute to the market's evolution?
by olesea.adonev@mxp.ro, 2013-06-06
The Uzbek insurance market ended 2012 with a total volume of gross written premiums of UZS 285.9 billion (EUR 109 million), up by 28.9% in national currency, as compared with the similar period of 2011, according to the market data provided by Information-Rating Agency SAIPRO.
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XPRIMM Insurance Report FY2012: Romania remains the third Motor Hull market in CEE, despite the continuous decreases in the past 5 years
by vlad.boldijar@mxp.ro, 2013-06-06
At the end of last year, the Motor Hull segment totalized EUR 3.8 billion for the 16 countries forming the Central and Eastern Europe region, according to statistics published in the latest issue of XPRIMM Insurance Report.
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MOLDOVA, Q1/2013 preliminary results: The insurance market slackens to EUR 14.4 million
by oleg.doronceanu@mxp.ro, 2013-06-06
In the first three months of 2013, the 17 companies operating on the Moldavian insurance market reported a gross written premiums volume of MDL 232 million (EUR 14.4 million), a value similar to the one reported in January-March 2012, according to preliminary data published by CNPF - The National Commission for Financial Markets.
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TRIGLAV Group, 1Q13: Almost EUR 23 million in net profits
by vlad.boldijar@mxp.ro, 2013-06-06
In the first quarter of 2013, the estimated profit before tax for the TRIGLAV Group amounted to EUR 28.5 million, while its net profit equaled EUR 22.9 million or 30% more than in the previous year. In the case of Zavarovalnica TRIGLAV - the Group's main company, the profit before tax is estimated to total EUR 24.8 million, while the net profit increased by 46% to EUR 20.0 million.
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ALLIANZ-TIRIAC reported a profit of EUR 1.45 million in Q1/2013, equivalent to the one in FY2012
by andreea.ionete@mxp.ro, 2013-06-06
ALLIANZ-TIRIAC Asigurari ended the first quarter of 2013 with RON 241.5 million (EUR 55 million) in underwritings, 5% more than the value reported for same period last year (RON 230 million). This result was supported by both the non-life and life insurance segments.
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GENERALI, 1Q2013: The best quarter of the last four years
by daniela.ghetu@mxp.ro, 2013-06-06
The GENERALI group closed the first quarter registering a good premium income and strong business margins, which lifted its total operating result to EUR 1,328 million (+8% y-o-y) and net profit to EUR 603 million (+6.3% y-o-y). Total GWP amounted to EUR 19.14 billion (-2.6% y-o-y).
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Slovenia's SAVA Re Group Q1 net profit up by 111% y-o-y
by vlad.boldijar@mxp.ro, 2013-06-06
In the first quarter of 2013, SAVA Re Group generated a net profit of EUR 7.8 million, which is the double of the amount reported for 1Q2012 (EUR 3.7 million). At the same time, the value of GWP suffered a decline of 7% y-o-y to EUR 85.8 million.
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MILLI Re Tennis Tournament: a tradition unshadowed by the Istanbul riots
by vlad.boldijar@mxp.ro, 2013-06-06
Every year, for three days at the beginning of the summer season, with the occasion of the MILLI Re's "International Insurance Tennis Tournament", Istanbul becomes the meeting point of the most important actors on the international and Turkish re/insurance markets. This year's Tennis Tournament overlays though the biggest anti-government demonstrations Turkey has seen in decades as in Istanbul and other major cities in the country, tens of thousands of people went out in the streets and clashed violently with riot police.
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OTHER NEWS
AXA revenues up by 3% in Q1
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POLAND: PTE ALLIANZ Polska acquires WARTA's pension fund business
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ZURICH posts unchanged quarterly BOP
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Kazakhstan: New rating requirements for non-resident reinsurers
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TALANX posts growths in premiums in all divisions
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PRESS CUTTINGS
ACE reports first quarter net income of USD 953 million

AEGON delivers strong Q1 2013 results

AIG reports first quarter 2013 net income of USD 2.2 billion

ARMENIA: MP raises issue of agricultural insurance

AVIVA new business value up 18% on stronger UK contributions

AZERBAIJAN: Compulsory Insurance Bureau to control insurance against accidents at work

AZERBAIJAN: More than 1.8 million people insured their lives

BULGARIA: VIG ready to sell stake in Doverie

GENERALI Slovensko and Penzijni spolecnost CP will have the new CEOs

ING records 1Q13 underlying net profit of EUR 800 million

LATVIA: Voluntary car insurance is now more popular

MakoLab SA for PZU LITHUANIA - new proprietary system for insurance sale

MetLife reported operating earnings of USD 1.6 billion up 12% over 1Q2012

SLOVENIA: Insurance fraud increases premiums for everybody

UKRAINE allows foreign insurers to operate directly

UZBEKISTAN: Insurers investments up 35.9% to USD 189.6 million in 2012

Credit Europe Asigurari
EDITORIAL

Waiting for the Danube...

Following press releases stream on the results of the European insurance groups in 1Q2013, I have noticed, among other similarities, the idea that the quiet winter of 2012-2013, showing no significant weather related events, contributed to a better financial result of the companies. Well, in the half year interim reports, probably this idea will miss, as the recent European floods may reverse the trend. Read More

daniela.ghetu@mxp.ro


JLT

INTERVIEW
Guy HUDSON
Partner
JLT Re

The main reasons that some reinsurers are reducing or withdrawing from the Romanian reinsurance market are: a) the worsening of results in motor third party liability portfolios caused by heavy original term competition, large moral damage awards and low original Insurance Company retentions b) a belief that Romanian catastrophe programmes are not as well rated as other catastrophe programmes that are available on the international market c) concern over original property rates d) a perceived increase in large property loss activity.
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BCR Asigurari de Viata
Metropolitan Life

STATISTIC UPDATES
Russia FY2012
Armenia FY2012
Uzbekistan FY2012


EVENTS


Are you interested in the insurance market of the Caucasus Region? Do not miss AIIF 2013!

Join the event that sets the trends and the new business lines on the insurance markets of the Caucasus Region. You can register now for the IV Azerbaijan International Insurance Forum (AIIF 2013), an important event in the insurance industry's calendar that brings together international audiences to showcase the opportunities and challenges facing industry practitioners. The event takes place in Baku, Republic of Azerbaijan between 20th - 21st of June 2013.
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POINT OF VIEW
Fuad KULIYEV
Chairman of the Management Board
AzRe

Being the only local reinsurer, AzRe plans to build a cat reinsurance whole-market solution for the Azerbaijan market, as a response to the new growing demand. The main advantages we have within the region are our financial stability which is crucial in our business or any other, our excellent claim payment ability and solid reputation.
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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

GRECO
ASIGEST Broker

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