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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.

As 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.

Meanwhile, 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,

Daniela GHETU


Get more details and apply for your invitation to the XPRIMM Baden-Baden Reception here.

Published on 06.09.2012

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