At first sight
Shrinking business, improved (or, at least steady) profitability ...
seems to be, at first sight, the statement which summarizes the trends
registered in the first half of 2012 on the Central and South-Eastern
European markets. Or, slightly changing the angle, while most of the
markets across the region are doing rather bad in terms of volume, their
main players show good results, at least in terms of profitability.
market results for 1H2012 began to gather, it became obvious that most
the insurance markets across CEE are experiencing a harsh time, mostly
because of the weak consumption power of their citizens. As we are
writing today, xprimm.com has already published the 1H2012 statistics
for 12 of the 21 markets we are monitoring in the area. Nine of these
markets are showing negative changes or, in the best case, an almost
steady evolution, while only two registered modest positive growth rates
and Turkey is the sole market with a strong positive evolution in terms
of GWP. Nevertheless, we need to wait for the Polish results in order
to draw an end conclusion regarding the region as a whole.
one after another, the major European groups, as well as the regional
ones, have published their interim reports. While CEE premiums' volumes
shrinking are visible in most cases, the profitability of their business
in the region seems unaltered.
Moreover, some of them, as
GENERALI and VIG, which have a strong presence in almost all the CEE
countries, have reported an increasing contribution of their CEE
subsidiaries to the aggregated results, both in terms of written
premiums and profit. Beside them, TRIGLAV and PZU, the most significant
regional big players, have just reported very good results for the first
half of the year.
One month from now on, the regional statistics
will be fully known and trends that are only shaping now will be
confirmed, as a new issue of the XPRIMM Insurance Report - CEE, Russia
& CIS, SE will be released in Baden-Baden, on October 21st.
See you in Baden-Baden,
Get more details and apply for your invitation to the XPRIMM Baden-Baden Reception here.
Published on 06.09.2012
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