Location: Southeastern Europe, bordering the Black Sea, between Bulgaria and Ukraine
Climate: temperate; cold, cloudy winters with frequent snow and fog; sunny summers with frequent showers and thunderstorms
Natural hazards: earthquakes, most severe in south and southwest; geologic structure and climate promote landslides
Currency: Leu (RON) Currency conversions were calculed for an average exchange rate of: RON 4.4446/EUR - in 2014 RON 4.4190/EUR - in 2013 RON 4.4560/EUR - in 2012 RON 4.2379/EUR - in 2011 RON 4.2099/EUR - in 2010
Anna GRZELONSKA, currently COO of Nationale-Nederlanden in Poland, has been appointed as CEO of NN Life Insurance Romania. She succeeds Marius POPESCU, who was appointed as CEO of NN Hayat ve Emeklilik.
"After a trial period, the Romanian insurance market is reaching its maturity, in my opinion. I believe in this market. As proof of my belief, I took on my shoulders to lead the insurance-reinsurance sector in ASF - The Financial Supervisory Authority during the most difficult moment in the insurance market's history in the past years", Cornel COCA-CONSTANTINESCU, First Vice President, ASF - The Financial Supervisory Authority, during the Brokers' Conference at FIAR 2017.
The specialists who participated at the Brokers' Conference at FIAR 2017 pointed out that the revision of insurance legislation plays an important role for companies, but its main objective is regaining the consumers' trust.
"We see a lot of technology developments coming up: robots, AI, telematics - all are coming into our [insurance] market as well. We see more and more often a customer centric approach, the customer is placed in the front of this process", Cees WERFF, President, Claims Corporation Network, pointed out during the Motor Insurance Conference at FIAR 2017.
"There is a wide variety of pricing parameters used on the motor insurance market today - in many cases it is doubtful if their validity is statistically proven. For fleets, there is a 'disconnection' between needed and available information", Michael THEILMEIER, Senior Vicepresident, GEN Re, explained during the Motor Insurance Conference at FIAR 2017.
In the context of digitalization and its role in improving the claims assessments processes, Richard NATHSCHLAEGER, Region Manager Austria & Italy, Vice Chairman CEE Advisory Board, AUDATEX, presented, during the Motor Insurance Conference at FIAR 2017, a solution for digital claims self-assessment launched by Audatex.
"I think that stability is essential for insurance and reinsurance companies alike and, in order to be active in the market, we need a transparent and stable legislative framework, otherwise the rules are not clear and it is hard to plan business activities in the market with too many uncertainties", Evgeny POTOKOV, Senior Underwriter SEE, SCOR, explained during the Motor Insurance Conference taking place at FIAR 2017, presenting the company's perspective, as reinsurer, on the MTPL market in Romania.
"I wish all of you good luck in the following months, because the next period will not be easy for the Romanian insurance market", Florin GOLOVATIC, Director, ASF - The Financial Supervisory Authority, declared during the Motor Insurance Conference at FIAR 2017, speaking to the professionals present at the event.
BAAR - the Romanian Motor Insurance Bureau has paid, in total, claims of nearly RON 200 million lei for more than 10.000 claim files of the bankrupt companies ASTRA Asigurari and CARPATICA Asig, stated Madalin ROSU, BAAR's President, at FIAR 2017.
The most recent report published by the European Commission, "The ageing of the EU - implications for pensions", has a bleak conclusion: Europe's population is ageing and, as far as pension costs are concerned, their share in GDP will reach 11.2% in 2060, compared with 11.3% in 2013, Falco VALKENBURG, Chairperson Pensions Committee, Actuarial Association of Europe, OPSG Member EIOPA, declared during the Private Pensions Workshop at FIAR 2017.
Kazakhstan's Halyk Bank on June 15 announced the signing of the sale and purchase agreements with Mr. Kenges Rakishev to acquire 86.09% of ordinary shares of JSC Kazkommertsbank for a consideration of 1 Kazakhstan tenge, and separately with JSC Sovereign Wealth Fund Samruk-Kazyna to acquire 10.72% of ordinary shares of Kazkommertsbank also for a consideration of 1 Kazakhstan tenge.
Azerbaijan Deposit Insurance Fund (ADIF) paid AZN 43,222,000 to Parabank's depositors, AZN 58,971,000 to Zaminbank's depositors, AZN 27,771,000 to Kredobank's depositors and AZN 3,087,000 to Dekabank's depositors.
12 July 2017 Saint Petersburg, Russian Federation Four Seasons Hotel Lion Palace Organizer: All-Russian Insurance Association Co-organizer: Informational Group "Insurance Today" Media Partner: XPRIMM Publications For details: www.insuranceconference.ru
Risk Assessment and Loss Adjustment 20 September 2017 Moscow, Russian Federation Metropol Hotel Organizer: NAIA - National Association of Insurance Adjusters Co-organizer: Informational Group "Insurance Today" Media Partner: XPRIMM Publications More details:www.naia-rus.ru