Romanian insurance companies are ready for the Baden - Baden negotiations
 Like every year, the week when the Baden-Baden Meetings take place is a moment of review for the insurance markets. And companies in Romania will determine if the decisions made during the year, in terms of underwriting policies, have paid off.
"Most insurance companies have understood the need to apply a stricter underwriting discipline, in order to improve the results from the past. It is actually one of the main requests coming, over the years, from the reinsurance market. The insurance companies in Romania are now more prepared to renew in optimum conditions the reinsurance programs for next year", said Radu FRINCU, President, EXIMASIG Romania.
Regarding the potential impact that catastrophic events that marked the world this year could have upon reinsurance contracts negotiations for 2012, the leader of EXIMASIG Romania stated: "Reinsurance companies have proven in the past that they were strong enough to face some difficult years in terms of catastrophic risks occured. It is, I think, also the case of this year, as there are no conditions capable to adversely influence the way in which the Romanian insurance market is perceived by the reinsurers. Any decision to increase the price of reinsurance could be taken only on technical, actuarial basis, closely related with the performance of our market".
EXIMASIG Romania is a company specialized in financial risk insurance, commercial loans and guarantees, which makes reinsurance placements be primarily done on this classes. But, according to company officials' statements, it is expected that, under the circumstances of this year's expansion of company's activity on other complementary insurance classes, to also grow the number and the value of placements in reinsurance on the new lines of business, mainly on goods, CAR/EAR or liability.
EXIMASIG Romania will be present at this year's Baden - Baden Meetings, also being Partner of the Baden - Baden XPRIMM Reception, an event which will take place on Sunday, October 23rd.
Author: Oana RADU
on 19.10.2011
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