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XPRIMM News - THE ROMANIAN INSURANCE MARKET NEWSLETTER
No. 115, August 28th, 2008
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INSURANCE PROFILE
ICAR FORUM 2008
  EDITORIAL


The long way of portfolio diversification...

The portfolio diversification represents, in the past years, one of the main objectives of the Romanian insurance companies.

"Let's make less motor insurance and more something else" is the phrase that's occupies a top position on the profile leaders' wish list, but the results show us that the motor insurance are still dominant.

So, how about the diversification? The insurers sustain that is very difficult, that the Romanians love more their car than the house and so on...

But, are there any solutions? How can the insurance companies take advantage of the new created middle class, with automobiles and houses bought by credits and though insured?

The answer is... with imagination... Would you pay, let's say an extra 15 EUR for a photo camera that includes robbery insurance? Or would you buy a plug that even if it is more expensive with 10 EUR, insures all the electronic devices for claims made by electric power crises?

The above examples are not taken from movies, but from concrete situations, from the European profile shops.
Maybe the insurers should give up to complex strategies for the portfolio diversification, in order to focus on simple projects, easy to sell, for the middle class.

So, we are waiting in Romania for the first plug with insurance...

by mihaela.circu@mxp.ro

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BCR Asigurari de Viata
ASIBAN
ASIGEST

ASIGEST Agri

WILLIS
POLISH Re
ASIBAN
FADATA
KINGSPAN
EDITORIAL | INTERVIEW | TOP PRESS | CEE & CIS | FINANCIAL NEWS | EVENTS
 INTERVIEW

 

Interview with Mr. Eugen SHLOPAK
General Manager
ASITO

XPRIMM: How would you assess insurance market developments in the Republic of Moldova during 2006-2007 in terms of quantity and quality?
Eugen SHLOPAK:
At the moment we believe that everything that happened in that period had a largely positive influence on the market because it had an increase of 35% and 25% respectively, as concerns the quantity. I would, however, mention, that this growth is now very scarce in the national economy needs of insurance services and it is due to several factors such as financial deficits, low investment flow both for external and domestic sources, both for enterprises and individuals, the low level of the existing "risk management" existing economic culture. Of course, in such conditions it cannot be a qualitative market and as a result it is mainly oriented towards a single class of insurance - motor third party liability.
As for the quality, here things are changing more slowly from both sides, both from the insurer and from those who use insurance services. One would need more time to understand the meaning and the importance of insurance for all categories of management, and to further reflect upon the interests of individuals.
Even in such circumstances, the market continues to grow in the first half of this yea , by 32%, showing an untiring potential for the near future.

XPRIMM: What are the main problems and challenges the insurance market in the Republic of Moldova is facing?
ES:
First of all I want to mention overall economic culture, lack of collaboration between existing financial structures in Moldova (banks, leasing companies, investment, etc.). The issue of the existing technologies for the insurance practice in most countries of Central Europe is supported by the authorities responsible for the branch. May I add even that the issue of professionalism of the staff involved in insurance, reinsurance, intermediary institutions and also the opportunity to prepare, enhance such categories in Moldova with the obviously contribution of local authorities and of potential investors in the insurance industry. The process of assimilation of insurance in the economy would need to become a vital process, not only through their introduction or their compulsoriness.

XPRIMM: How would you assess the amendments made by the new law of insurance (share capital, business specialization, reorganizing companies)?
ES:
Very positively, the need for these measures are already has existed for more than a decade. The solvency level is still below the mark for many companies involved in the insurance industry and the recent imposition for increasing the statutory is a temporary measure, the market is over-saturated regarding the number of companies and not the quality and the situation continues to maintain. These problems should be acknowledged by insurers themselves, because insurance industry is more special than other activities, while the capitalization level is one of its main indicators.
The adoption of two laws regarding insurance are appreciated (Insurance Law and the Motor third Party Liability Law) and together with these we welcome the change in the essence of how non-life and life insurers, reinsurers, new rules for brokerage companies, changing the status of the insurance agent, new rules for the insurance reserves placements in investments. All these factors should have caused the reorganization of existing companies through mergers, specialization in fields or classes, their integration in certain branches of the economy and a more frequent use of the reinsurance potential. We must have examples, models as it is not a secret that the insurance market has developed spontaneously in large measure based on information publicity in the mass media and other occasional sources.

XPRIMM: What do you think about the presence of foreign capital in the insurance sector in Moldova? Do you consider that current legislation will stimulate foreign investors entering the market?
ES:
Pretty fair, their lack denotes the existence of problems I mentioned above. Only this presence of foreign capital will generate a serious investment flow and the level of financial security will increase for all branches involved in the business. No one will steal from nobody, increasing the net assets of insurers and the insurance reserve funds will be itself an additional potential for investments, needed so much in the national economy. But every time companies say 'the market is too small, with many problems, leave others to cultivate it, and as soon as the major problems will be solved, we, the big companies, will come too...

XPRIMM: What are the main trends for the insurance market in the Republic of Moldova? Do you think that market concentration will increase in coming years?
ES:
Growth trends are clear, insurance penetration in GDP is not so different from the one in Romania, but the volume of GDP is, to be honest, squalid, it does not exceed one thousand euro per capita. Of course, we have a huge layer which is not accounted by the national economy, that's why we have such distorted statistics for the moment. Regarding the concentration and consolidation in the market my personal opinion is that this is obviously necessary, and the possibility of further on activation of the existing contingent of companies will be practically reduced by an economical barrier in terms of costs and productivity.

XPRIMM: Thank you!

by oleg.doronceanu@mxp.ro

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Eugen SHLOPAK
Mr. Eugen SHLOPAK
General Manager
ASITO

MEDICOVER
YALTA 2008
EDITORIAL | INTERVIEW | TOP PRESS | CEE & CIS | FINANCIAL NEWS | EVENTS
 TOP PRESS



Romanian Insurance market could reach EUR 2.4 billion in 2008
During the first six months of this year, the insurance industry grew by 11%. The profile companies has a rise business development due to the contribution of motor, property and life insurance, while the credit line dropped down with EUR 46 million during the same period.
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by alex.rosca@mxp.ro, 19.08.2008


Harsh fight for top
During the first half of 2008, the amount of gross written premiums reached EUR 1 billion for the first 10 Romanian insurance companies. In the same time, the market share has dropped down with 1.4% reaching 79%.
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by alex.rosca@mxp.ro, 19.08.2008


BCR Life is in top
The growth on the life insurance segment was visible lower (11.44% compared to 12.1%), expressed in EUR. The first 2 position in top remains unchanged, but the market share between ING and AIG Life decreases. ING Life dropped down 2% and AIG Life wins 2%.
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by alex.rosca@mxp.ro, 19.08.2008


BCR Asigurari underwrites RON 262 million in H1
BCR Asigurari has concluded the first half of 2008 with a volume of gross written premiums of more than RON 262 million (EUR 71.37 million), the BCR press release announces. Compared to the first half of 2007, the insurer noted a 24% reduction of the volume of underwritings, while obtaining very good results regarding profitability, over RON 7 million, as a result of changing the direction towards an activity of qualitative underwritings.
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by andreea.ionete@mxp.ro, 20.08.2008


ASTRA-UNIQA obtained a RON 2.82 million profit in H1/2008
The insurance company ASTRA-UNIQA concluded the first six months of the year in progress with a profit of RON 2.82 million, thus continuing the growth trend of Q1/2008.
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by mihaela.circu@mxp.ro, 22.08.2008


OMNIASIG, one of the most profitable companies on the market
OMNIASIG VIENNA Insurance Group, the second player on the local insurance market, has increased gross profits after the first half of the year, to RON 19.71 million (EUR 5.4 million), along with the gain of 3.6 percentage points in the market share, thereby maintaining itself among the most profitable insurance companies in Romania.
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by andreea.ionete@mxp.ro, 22.08.2008


VIENNA INSURANCE enters Romanian voluntary pensions market
VIENNA INSURANCE officially entered the Romanian voluntary private pensions market (3rd pillar) this week, its voluntary pension fund "CONCORDIA Moderat" having been authorised by CSSPP, the Romanian pensions regulator. Thus, the number of funds on the Romanian voluntary pensions market reached 9, with a potential to get to 12 funds by the end of this year. At the end of July 2008, the Romanian voluntary pensions market had over 117,000 participants and assets under management of 13.6 EUR mln - being expected to reach 200,000 clients and 25 EUR mln worth of assets by the end of the year. Another 3 funds are in currently in authorisation procedures at CSSPP.
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by mihai.bobocea@mxp.ro, 21.08.2008


A more than 22% growth for AON Romania in H1
AON, the Romanian insurances brokerage company, has intermediated in the first half of 2008, a premium volume of RON 58.03 million, which represents a real evolution, in the national currency, more than 22.3% compared to same period in 2007.
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by andreea.ionete@mxp.ro, 18.08.2008


The insurers will pay RON 15.7 million, due to the floods
The Romanian insurance companies will pay, as a result of floods that have affected our country in July this year, over RON 15.7 million.
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by mihaela.circu@mxp.ro, 4.08.2008


Over RON 400 million for ASIROM in H1/2008
The insurance company ASIROM achieved in the first six months of the year in progress, a volume of underwritings of RON 401.89 million, 19.2% more than the previous year, according to the report submitted to the Bucharest Stock Exchange.
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by mihaela.circu@mxp.ro, 20.08.2008


GE Money will sell household insurances
GE Money, the division of retail financial services of GENERAL ELECTRIC, will start to sell household insurances from ALLIANZ -TIRIAC and GENERALI for the customers that have contracted mortgages and property credits, after a bancassurance partnership with the two companies.
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by mihaela.circu@mxp.ro, 25.08.2008


New CEO at ING Life
Cornelia COMAN was named General Manager of ING Life Romania, the effective taking over of the mandate being scheduled for October the 1st 2008. At the present time, Cornelia COMAN occupies the position of Interim General Manager, replacing Bram BOON in the company's management, as he was appointed CEO of ING Life Insurance in Greece.
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by mihaela.circu@mxp.ro, 25.08.2008


Romania's Finance Ministry to increase fiscal incentive for voluntary pensions in September
A proposal to substantially increase fiscal incentives for voluntary private pensions (3rd pillar) in Romania will be introduced in the project for the modification of the Fiscal Code, to be promoted by the Romanian Finance Ministry in September and, if adopted, it will come into force starting 1st of January 2009, market sources told www.privatepensions.ro. Yesterday evening, CSSPP (Romania's private pensions regulator), APAPR (the Romanian pension funds association) and the highest representatives of the Ministry of Economy and Finance met to discuss proposals for the increase in incentives for the 3rd pillar and the calendar for adoption of the measures.
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by daniela.ghetu@mxp.ro, mihai.bobocea@mxp.ro, 26.08.2008


CSSPP prepares proposal to increase contributions to mandatory private pensions by 1% per year
CSSPP, Romania's pensions regulator, is preparing a proposal to increase the level of contributions paid into the mandatory private pension system (2nd pillar) from half a percentage point per year to a percentage point per year, making the level of contributions reach 6% in 2012, not in 2016, as required by current legislation, market sources told www.privatepensions.ro. Accelerating the increase in contributions will help increase the assets of pension funds and will give participants the opportunity of more consistent private pensions.
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by mihai.bobocea@mxp.ro, 14.08.2008


How Romanian mandatory private pension funds invest during the crisis
Romania's mandatory pension funds (2nd pillar) avoided listed shares, but bought state and corporate bonds using the surplus cash and deposits during July, data by CSSPP, Romania's private pensions regulator, shows. The funds, managing assets of almost EUR 81 mln., had the following portfolio structure at the end of July: 58.9% in state bonds (as against 43.8% in June), 12.8% in corporate bonds (6.7% in June), 5.7% in listed shares (6.1% in June), 22.3% in cash and deposits (43.1% in June) and 0.3% in mutual funds (same as June).
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by mihai.bobocea@mxp.ro, 18.08.2008


Romania's largest voluntary pension fund, still caught between VIG and ERSTE
The transfer of Romania's largest voluntary pension fund (3rd pillar) from BCR Life Insurance (VIENNA INSURANCE Group) to BCR Administrare Fond de Pensii (ERSTE BANK Group) has been postponed, after it was due to be discussed on the shareholder's meetings scheduled 25th and 26th of August 2008, market sources told www.privatepensions.ro. BCR Prudent is Romania's largest voluntary pension fund in terms of managed assets.
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by mihai.bobocea@mxp.ro, 28.08.2008


Romania's Government raises state pensions by 20% right before this year's elections
The Government of Romania decided today to raise state (public) pensions by 20% starting this November, Romania's Prime Minister Calin-Popescu TARICEANU announced today. He added that the average public pension will be raised by 20%, to reach 678 RON (191 EUR) in November this year. State pensions have already increased by 55% in the last year, but the average pension in Romania is still very low today - only 159 EUR. The general (parliamentary elections) in Romania will take place on the 30th of November.
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by mihai.bobocea@mxp.ro, 27.08.2008


Romania's population to fall by 4.5 million until 2060, dependency ratio to triple to 65%
Romania's population will fall by 4.5 million inhabitants by the year 2060, reaching 16.9 million inhabitants, shows data released today by EUROSTAT. Romania will have in this period the fourth sharpest decline in population among the 27 EU states: 21%, after Bulgaria (28%), Latvia (26%) and Lithuania (24%). Also, the old-age dependency ratio in Romania will triple until 2060, from 21.3% in 2008 to 65.3% in 2060, the same data shows.
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by mihai.bobocea@mxp.ro, 26.08.2008

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 CEE & CIS


H1 in the Republic of Moldova brings a 32.2% grow for the insurance market

Insurance companies in the Republic of Moldova wrote EUR 30 million in premiums in the first semester of 2008, a 32.3% increase, compared to the same period of last year. At the same time, claims reached EUR 8.6 million, 25.5% more then 2007. The gross profit for insurance companies was EUR 5.7 million EUR, according to statistics from the National Committee for Financial Markets.
Over this period, compulsory insurance generated EUR 6.9 million EUR in premiums, 23% of the market, while the rest of EUR 22.9 million were from facultative insurance, which grew by 42% in comparison with 2007.
The life insurance line of business stands for a modest 5.2% of the total market. But, the share increased with 45% since last year, to EUR 1.5 million. We must mention that there is only one company present on this segment - GRAWE Life Insurance.
Financial risks and liability insurance are in a similar situation, with very low shares of the market, of 1%, respectively 0.1%. At the same time, agricultural insurance hold 3.7% of total premiums, even if the Government is providing funds each year to subsidize 80% of the premium.
The number of companies remained to a constant 33, but the first 10 companies are responsible for 88% of the subscriptions.
The top companies are MOLDASIG and ASITO, with 28.2%, respectively 21.8%. They are followed by CARAT, with 8.7%, MOLDAGRO, with 6.9% and DONARIS with 6.1%.
Total assets of the insurance companies reached EUR 81.4 million, while net assets stand for EUR 34.7 million. At the same time, reserves increased to EUR 32.5 million.
by oleg.doronceanu@mxp.ro, 19.08.2008


Life Insurance Securitisation, in September in London
Jacob Fleming's Annual "Life Insurance Securitisation" conference, supported by XPRIMM Insurance & Pensions as Media Partner and taking place on 17th & 18th September in Central London will draw the new concepts needed for emerging from a crowded market and better understand this complex transaction of life insurance securitisation.
This is a unique chance to benchmark as well as network with senior executives from JP Morgan, SOCIETE GENERALE, SWISS Re, MUNICH Re, GOLDMAN SACHS International, BARCLAYS CAPITAL, BNP Paribas, AXA Investment Managers, ABN Amro and many others.
Q & A sessions after each presentations, interactive panel discussions and informal networking opportunities will help the attendees to get answers for all questions and compare different strategies in this field.
This interactive platform will give you the perfect opportunity to gain information on topics including: how to implement the regulatory requirements of insurance risk transfer; how to apply the different alternatives in mitigating longevity risk; how to structure life securitisation transactions successfully; how to manage and structure life settlements effectively and many more.
This executive event, supported by XPRIMM Insurance & Pensions as Media Partner, will gather executives and representatives from insurance, reinsurance & life insurance companies, investment banks and also investors, analysts, brokers and other services' providers.
Click here to request the full brochure outlining confirmed speakers as well as topics to be discussed!
Click here for more details!
by andreea.ionete@mxp.ro, 00.08.2008


Joining Forces to Raise Your Game in Prague on 25th-26th of September
The end of September will mark out the needed coordinates for building-up a successful business and learning the best practices in order to improve performance in bancassurance, wth the occasion of "Joining Forces to raise Your Game - The future of Bancassurance, Assurbanking & the Affinity Business" Conference, organized by UNIGLOBAL Research on 25th-26th of September in Prague, Czech Republic.
The concept of bancassurance created a tide change within the financial sector and is now well established in the insurance industry.
So what lies ahead? Are insurance and capital markets heading for convergence or collision course? Will insurers sell banking products as bankers sell insurance products? Who else should be involved to increase the sales potential? Based on the knowledge of the banking and insurance sector this event, supported by XPRIMM - Insurance&Pensions as Media Partner will answer these questions and will review the strategic trends in product differentiation, which are a key within a sector of fast evolving customer needs, and where customers face an abundance of offerings.
Thus the attendance will learn from leaders in Assurbanking & Bancassurance what cross selling and effective segmentation consists in, which products and product combinations have the greatest potential and will understand how effective HR can leverage the distribution strength or the crucial role of processes and IT in driving profits.
Click here for details!
Click here to register!
by andreea.ionete@mxp.ro, 26.08.2008


ROSGOSSTRAKH remains leader of the Russian Insurance Market
The Federal Service for Insurance Supervision announced early August the financial results of Russia-based insurers for January-June 2008. The top five major insurance groups wrote EUR 2.87 billion in premiums, accounting for 36.3% of the country's insurance market. Income of the top ten insurers came to EUR4.18 billion (52.7%).
In the reporting period, the Russian companies received a total of EUR7.92 billion premium income and paid EUR 2.95 billion in claims. Premium including CMEI amounted to EUR 12.79 billion; claims paid totaling EUR 7.61 billion.
The market's leader was the ROSGOSSTRAKH group of companies, whose market share totaled 10.1%. Second best was SOGAZ with a 7.7% market share.
In the first half-year 2008, the Russia's major insurance groups were ROSGOSSTRAKH, SOGAZ, INGOSSTRAKH, RESO, Russia-based companies OF ALLIANZ, VSK, ALFASTRAKHOVANIE, Capital Insurance Group, URALSIB and ZHASO.
The top ten insurers were somewhat different: ROSGOSSTRAKH, SOGAZ, Russia-based companies of ALLIANZ, INGOSSTRAKH, MAKS, KAPITAL, RESO, CAPITAL Insurance Group, URALSIB and VSK.
As of June 30, 2008, the Uniform State Register of Insurers included 830 insurance organizations as against 911 insurers a year ago.
by RP Newsline, 25.08.2008


Written premiums of EUR 46.53 million for LEMMA
Ukraine-based insurer LEMMA announced on August 13th its financial results for the first six months of 2008, representing EUR 46.53 million, 9.6% up compared to the equivalent period a year ago. Its claims paid fell 20.4% to EUR 10.81 million.
The company's net income amounted to EUR 4.36 million, assets to EUR206.07 million and insurance reserves - to EUR 41.01 million.
Non-residents contributed with EUR15.57 million in inwards reinsurance premiums, 3.9 times more than in the same period a year ago.
In the reporting period, financial risks insurance accounted for 29% of the company's total premium income, cargo - for 26%, property business - for 18.8%, insurance against fire and allied perils - for 10.6%, railway transport - for 4.1% and medical expense - for 3.5%. Cargo insurance generated a premium income of about EUR12.09 million. Income from financial risks insurance came to EUR13.473 million, that from property business - to EUR8.76 million. Insurance against fire and allied perils represented EUR4.952 million in premiums. In the sectors of railway and medical expense insurance, the company received EUR1.89 million and EUR1.61 million of premium income, respectively.
In the first half-year 2008, LEMMA dealt with 50 insurers and 30 international brokers from 40 countries worldwide.
Established in 1994 in Kharkov, LEMMA has EUR78.17 million of authorized capital. The company has an observer status at the International Association of Insurance Supervisors (IAIS) and a B+ financial stability rating confirmed by international rating agency AM Best in 2007.
by RP Newsline, 25.08.2008

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EDITORIAL | INTERVIEW | TOP PRESS | CEE & CIS | FINANCIAL NEWS | EVENTS
 FINANCIAL NEWS

Romanian leasing market rises with 36%
Leasing companies finances goods acquisitions worth a total EUR 2.94 billion in the first six months of 2008, up 36 percent year-on-year, according to Romania's Financial Companies Association (ALB).
In H1 2007, the local leasing market totaled EUR 2.17 billion, 46 percent higher on 2006. Players on the market were expecting a slower growth rate for this year, due to higher interest rate, which led to more expensive financing, and a pollution tax for car registration, as of July 1, which leads to clients focusing on cheaper second-had cars, not purchased in leasing.
by Business Standard, 28.08.2008


Record 8.9% growth for Romania's economy in Q2
Romania's gross domestic product (GDP) registered an 8.6 percent advance in the first half of 2008, due to record growth of 8.9 percent in the second quarter, according to Economy and Finance Minister Varujan VOSGANIAN.
The GDP growth for Q1 2008 was 8.2 percent, a Q1 record since 1990. The 8.9 percent growth sets a new quarterly record, while the 8.6 percent advance in H1 is a half-year growth record for the past 20 years, since Romania officially became a market economy.
However, financial market analysts are more cautious. "We have an 8.5 percent growth forecast for the economy in the second quarter. Our estimation for the first half of the year is an increase of 8.3-8.4 percent", Nicolaie-Alexandru CHIDESIUC ING Bank Romania's Senior Economist stated for Business Standard. Nicolaie-Alexandru CHIDESIUC estimates that the economy will register 8 percent growth by the end of 2008. "The 8.9 percent scenario for the second quarter, presented by VOSGANIAN, is possible", he said. According to CHIDESIUC, sources for economic growth were taxes and services, while agriculture was not taken into account in the second quarter.
by Business Standard, 25.08.2008


Increase of 12.7% for construction sector
The annual growth rate of the local construction sector tempered significantly in June, compared to previous months, to 12.7 percent year-on-year. Romania posted the third-largest construction growth in the European Union, according to data published by EUROSTAT, the EU's statistics office.
In the previous three months, Romania had posted the highest construction sector growth in the entire Union, at 32.5 percent annual growth in March, 30 percent in April, and 31.5 percent in May.
In June, however, the construction growth leader was Poland, with 20.8 percent growth year-on-year, followed by Slovenia (14.8 percent). Bulgaria ranks fourth, after Romania, with 10.3 percent growth.
by Business Standard, 22.08.2008


Romania posts highest growth in EU for new industrial orders
Romania registered last June the highest annual growth in terms of new industrial orders in the European Union - 27.8 percent, followed by Latvia (26.9 percent) and Lithuania (22.9 percent), according to EU's statistics office, EUROSTAT. Compared to May, new industrial orders in Romania rose 2.8 percent.
At EU level, new industrial orders rose in 11 of the states that provided data on the issue and declined in other seven states.
The most significant decline was registered in France (16.9 percent), Spain (6.5 percent), Czech Republic and Germany (6 percent).
by Business Standard, 22.08.2008

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EDITORIAL | INTERVIEW | TOP PRESS | CEE & CIS | FINANCIAL NEWS | EVENTS
 EVENTS


5th ICAR - The International CAtastrophic Risks Forum
October 14th, 2008
Bucharest, Romania
Organizer: Media XPRIMM
Media Partner: PRIMM Magazine - Insurance&Pensions
Details: www.icarforum.ro


8th Yalta International Forum
September 15th-19th, 2008
Yalta, Ukraine
Organizer: The League of Insurance Organizations of Ukraine
Media Partner: PRIMM Magazine - Insurance&Pensions
Details: www.cbs.org.ua


Life Insurance Securitisation Conference
September 17th-18th, 2008
London, Great Britain
Organizer: JACOB FLEMING Conferences
Media Partner: PRIMM Magazine - Insurance&Pensions
Details: www.jacobfleming.com


10th Insurance & Reinsurance Conference Hydra
September 18th-20th, 2008
Spetses, Greece
Organizer: The Hellenic Association of Insurance Companies
Media Partner: PRIMM Magazine - Insurance&Pensions
Details: www.eaee.gr


"Joining Forces to Raise Your Game" - The Future of Bancassurance, Assurbanking & the Affinity Business
September 25th-26th, 2008
Prague, Czech Republic
Organizer: UNIGLOBAL Research
Media Partner: PRIMM Magazine - Insurance&Pensions
Details: www.uniglobalresearch.eu


IV International Conference "Development of Insurance Brokerage Markets in Eastern Europe and CIS"
October 6th-7th, 2008
Imperial Park Hotel & Spa*****, Moscow Region
Organizer: RUSSIAN Polis
Media Partner: Revista PRIMM - Asigurari&Pensii
Details: www.in-sure.ru


The Russian and CIS Reinsurance Forum
October 8th-10th, 2008
Zurich, switzerland
Organizer: C5
Media Partner: PRIMM Magazine - Insurance&Pensions
Details: www.c5-online.com


IV International Congress "World Views for LIFE INSURANCE in Eastern Europe, CIS and Asia"
November 13th-14th, 2008
Sheraton Hotel, Varsovia, Polonia
Organizer: RUSSIAN Polis
Media Partner: Revista PRIMM - Asigurari&Pensii
Details: www.in-sure.ru


Global Pension Funds & Alternative Investments
November 13th-14th 2008
Vienna, Austria
Organizer: UNIGLOBAL Research
Media Partner: PRIMM Magazine - Insurance&Pensions
Details: www.uniglobalresearch.eu


November Business Meetings of Reinsurers
November 27th-28th, 2008
Hotel President, Moscova
Organizer: ARIA - Asociatia Reasiguratorilor din Rusia
Media Partner: Revista PRIMM - Asigurari&Pensii
Details: www.nbm-moscow.ru

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ICAR FORUM 2008

Development of Insurance Brokerage Markets in Eastern Europe and CIS

World Views for LIFE INSURANCE in Eastern Europe, CIS and Asia
November Business Meetings of Reinsurers

XPRIMM Newsletters

THE EDITORIAL STAFF:

President: Sergiu COSTACHE CEO: Adriana PANCIU
Business Development Director: Alexandru D. CIUNCAN

Editor in Chief: Mihaela CIRCU
Scientific Advisor: Daniela GHETU
International Column Coordinator: Andreea IONETE
Private Pensions Coordinator: Mihai BOBOCEA
Senior Editors: Vlad PANCIU, Oleg DORONCEANU
Editors: Vlad BOLDIJAR, Oana NECULA, Mihai CRACEA, Andreea STATE
Web Responsible: Costi BORODA

General Secretary: Lidia POP

Accounts Manager: Georgiana OPREA
IT Department: Octavian GRIGOR, Dorin PALADE

Edition Responsible: Costi BORODA
e-mail:  xprimm@primm.ro

PUBLISHED BY: Media XPRIMM


Reproduction or use without permission of editorial or graphic content, in any manner, is prohibited. The Editorial Staff is not responsible for the truthfulness or the accuracy of the presented data. The Editorial Staff has the right to present the data in it's own manner. In what concerns the use, in any manner, of the information contained in this e-mail, Romanian laws apply.

Copyright©2008 MEDIA XPRIMM

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