PLATINUM Asigurari wants businesses of EUR 6 million in 2010 PLATINUM Asigurari-Resigurari, a small sized company on the Romanian
profile market (former CLAL Asigurari), has set as objective for 2010
achieving a premiums volume of EUR 5-6 million, compared to EUR 2.7
million in the previous year. The insurer begun this year with a new
name and a new shareholding, being taken-over last October, from the
Israeli shareholders, by VIENNA International Holding, for EUR 500,000,
it having as associates Efraim NAIMER and Camelia TOMA, each with 50%
of the share capital. more... (11.03.2010)
Romanian insurers' shareholders will keep bringing more money in 2010 In the context in which Romania has the most unprofitable segment of
general insurance in South-Eastern Europe, and the market will also end
2009 at a loss, the shareholders of the Romanian insurers will also
operate this year additional infusions of capital to finance their
activity. Their value is estimated by specialists at a similar level as
the one from 2009. Last year, capital contributions made to handle the
losses caused by the financial crisis amounted to nearly EUR 350
million, and market capitalization reached more than EUR 1 billion. more... (10.03.2010)
METLIFE buys ALICO AIG Group announced on the 8th of March that it would sell its life and
health insurance divisions to METLIFE. The value of the transaction is
estimated at USD 15.5 billion. This move, expected by economical
analysts, will help AIG to repay a part of the loan made to FED in
September 2008.
This deal will transform METLIFE, the biggest life insurer in the US,
from a regional presence, into one of the major global players, along
with giants such as ALLIANZ, AXA and PRUDENTIAL. more... (09.03.2010)
ING will sell its insurance division from Romania at package with the others from Central and Eastern Europe ING Group intends to sell its insurance division, including its
subsidiary in Romania, through listing on the Stock Exchange, through
initial public offering - IPO. Also, all entities in Central and
Eastern Europe will be included in this operation, according to Tom
KLIPHUIS, CEO of ING for this region.
ING will launch the initial public offering most likely to end of 2011,
although the company is still evaluating several options, according to
WALL STREET Journal. more... (08.03.2010)
Angela TONCESCU: The insurance market, affected by the crisis "The crisis has also affected the insurance market, mainly at the level
of two major distribution channels used by companies: the fall of
leasing activity in 2009 and loans granted by banks. These, combined
with rising unemployment, have led to the fact that gross written
premiums for the year 2009 remained at the level of the previous year,
of RON 8.8 billion", said Angela TONCESCU, ISC President, in the
opening of the National Motor Insurance Conference. more... (04.03.2010)
Cabinet hikes insurance contributions to perk up sick healthcare The Bulgarian cabinet and the medics' organizations agreed to raise the
mandatory health insurance contributions by 2%, so that the National
Health Insurance Fund (NHIF) can settle its dues to protesting doctors,
DNEVNIK reported. more... (11.03.2010)
EUR 4.2 billion in premiums for ALLIANZ CEE in 2009 ALLIANZ in Central and Eastern Europe (CEE) reported total gross
written premiums of EUR 3.6 billion in 2009. Comparing to EUR 4.2
billion in 2008 and adjusted for the devaluation of Central and Eastern
European currencies, this is a decrease by 2 percent. Operating profit
for 2009 decreased by 12%, to EUR 306 million versus EUR 348 million in
2008. more... (09.03.2010)
TRIGLAV generated highest premiums last year According to the preliminary data by the Slovenian Insurance
Association, Slovenian insurance companies saw premiums on the domestic
market rise 2.8 percent and reach EUR 2.1 million last year. The biggest
share was controlled by Zavarovalnica TRIGLAV (35.8 percent), which
reported EUR 743.1 million in premiums. more... (25.02.2010)
Ukrainian insurers faced a 25% decrease in premiums in 2009 Ukrainian insurance companies have underwrote in 2009 gross premiums of
approximately EUR 1.6-1.7 billion, according to estimates made by
Alexander FILONYUK, Directorate President, League of Insurance
Organizations of Ukraine (LIOU). In 2008, premiums totalized EUR 2.1
billion. He also mentioned that companies debts to the clients climbed
to EUR 86.8 million in 2009, in comparison to EUR 4.8 million in the
previous year. more... (25.02.2010)
Belorussian insurers have increased premiums by 18% in 2009 Belorussian insurance companies have underwrote gross premiums of
approximately EUR 280 million in 2009, an increase by 18.5% compared to
2008, according to Belorussian Ministry of Finance. more... (25.02.2010)
24-28 mai 2010 Sinaia, Romania
13th Edition Organizer: Media XPRIMM Official web-page: www.fiar.ro
TOP News
PAID was founded PAID - the Pool of Insurance against Disasters was constituted
yesterday, September 23. As announced yesterday in premiere by
1asig.ro, PAID will be composed of 13 companies, compared to the 16
initially speculated, this having been later confirmed by the press
release issued by the law firm VOICU&FILIPESCU. more... (24.09.2009)
Major insurance groups lose market share The companies of the major European insurance groups present in Romania
finished first half of this year with underwritings of EUR 741.6
million, a nominal decrease, in EUR, of over 17% compared with H1/2008,
when they cumulated EUR 894 million. Thus, the contribution of large
insurance groups to the total volume of gross written premiums in the
first half was reduced by four percentage points compared to 2008, to
68.33%. more... (11.09.2009)
BCR Asigurari de Viata, the only increase in Top 10 life Life insurance companies in Top 10 have obtained in the first half of
this year a negative evolution lower than market average (-19%,
compared to -8.28% - nominal evolution in EUR), according to
INSURANCE Profile Specialty Review. more... (10.09.2009)
Economic recession changes the rules in insurance European insurance companies could be forced to pay more for
reinsurance coverage in the 2009-2010 renewal season, following the
financial crisis affecting the world economy, , Jean Philippe THIERRY,
Chairman of the Organizing Committee of Rendez-Vous de Septembre in
Monte Carlo, stated for the XPRIMM Publications. THIERRY, who runs one
of the largest insurance companies in France, AGF, now part of ALLIANZ
Group, believes that negotiations that mark the end of the year will
focus more than ever on matters such as financial security and capacity
offered by the reinsurers, rather than on prices. more... (08.09.2009)
4 large groups hold 73% of the motor insurance market EUR 261.8 million is the cumulated value of gross written premiums on
motor insurance, in the first quarter of 2009, by the companies part of
the most important European insurance groups present in Romania
(ALLIANZ, GENERALI PPF, GROUPAMA and VIENNA Insurance). The figure
represents 73% of all business registered by the motor insurance market
(Motor Hull, MTPL and Green Card, cumulated). Compared with the
situation recorded in Q1 2008, when the same companies recorded a
volume of underwritings on motor insurance of EUR 317.5 million, a
nominal decrease in EUR of 17.5% was registered. more... (02.06.2009)
OMNIASIG, the new non-life leader OMNIASIG, member of VIENNA Insurance Group, has maintained its
business, in the first three months of the year in progress, at the
same level correspondent to the equivalent period of 2008. Thus, the
insurer has ended the first quarter with revenues from underwritings of
RON 331.6 million (EUR 77.7 million), with 0.13% below the value
registered in Q1/2008. So, OMNIASIG has become the new leader of the
Romanian general insurance market, surpassing by EUR 1.82 million
(equivalent to 0.4 percentage points market share) the former leader of
general insurance, ALLIANZ-TIRIAC, according to company's reports for
the INSURANCE Profile Specialty Review. more... (01.06.2009)
Towards FIAR 2010 ... The XIIth Edition of FIAR - the International Insurance-Reinsurance
Forum has come to an end. Despite the global economic crisis, leaders
and specialists in insurance and reinsurance worldwide have found the
time and the necessary resources to meet in Sinaia, for 5 days of
conferences, bilateral meetings and socializing. more... (01.06.2009)
The reunion of the leaders of the most important 20 countries
on the planet had a well defined goal: creating
an image of unity of the civilized world in front of the global recession.
It is exactly
this goal that was not reached after the reunion.
The different positions regarding the ways to address the crisis
have not been reconciled:
the U.S. continues to have an aggressive attitude,
based on relaxation of monetary and fiscal policies, on the massive
injection of liquidity
in the financial system and on conditioned support
of private companies - and conditions are among the toughest.more...
Interview of the week
Bogdan ANDRIESCU
President
UNSICAR
The perspectives of the brokerage market are, in my point of view, extremely positive. Taking into account the evolution in 2009, when the brokerage market registered an increase, both in volume and as a share of insurance premiums, I consider that we will also register a growth in 2010. Details
Information circulated by the media lately is talking about alarming
increases of the MTPL tariffs.
Allegations relate to the fact that this increase is unjustified and
that buying the MTPL policy should remain at the decision of the driver,
without being imposed by the law.Details
Dragos
CABAT Managing Partner FINANCIAL VIEW
