No. 131, April 23rd, 2009
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XPRIMM
News - THE ROMANIAN INSURANCE MARKET NEWSLETTER No. 131, April 23rd, 2009 Click here to subscribe! Click here to unsubscribe! |
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| MENU: EDITORIAL | INTERVIEW | TOP PRESS | CEE, RUSSIA&CIS | FINANCIAL NEWS | EVENTS | |
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| EDITORIAL |
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Thus, if until recently, the corporate segment was, most of the times, the winning card, now retail is the target to which the force and sale strategy must aim. The individual market is one with great potential, but which requires a sustained effort to educate the public and to promote the services one provides. But, in the context in which corporate policies no longer constitute a sufficient basis for sale, what is the effort that the shift towards retail implies, in the conditions in which the public lacks basic notions of education in the insurance field? And how can we expect that a potential customer decides to buy an insurance product that he does not understand, when he, like all of us, is trying to cut costs? Information and education are the solution! Sure, it is not a solution that offers short-term results, as we would all want, but we must understand that, if things have functioned untill now without a solid foundation, those times have passed. It will be even harder to build such a foundation in times of crisis, because it takes patience and investments with results to be seen over time. And yet, let's try and see in everything that is happening to us right now the useful lesson offered by the crisis. In order to reach our potential clients even faster, we must find new techniques, new ways to offer them support. The INSURANCE ANNUARY 2009 is such an instrument, the first monography of the Romanian insurance market, which has as main objective the education of the public on the concept of "insurance". The INSURANCE ANNUARY appears every year and it is presented as a catalogue of nearly 300 color pages. Besides purely informative purposes, the work is also dedicated to educating the public on the concept of "insurance ", as well as on the offer of products and services available in the field. The INSURANCE ANNUARY was officially launched with the occasion of the ninth edition of the Insurance Market Awards Gala, so now it is at your disposal, through online orders! For orders which exceed 10 copies, discounts are applied! To order, click here! by oana.necula@mxp.ro |
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PROFILE Review Click here to order! 
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| INTERVIEW |
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Interview
with Cristian FUGACIU: The crisis had visible effects in every field, and the insurance industry has faced major changes. By changes we are referring to the risks faced by our clients. The repositioning of the risks to which the companies are exposed in the present implies a new assessment of the insurance programmes in force. XPRIMM: What was the impact of restricting the credit and leasing activities upon the volume of new-business and how do you estimate this indicator will evolve in the current context? C. F.: Credit and leasing have been, in the recent years, two of the most important engines of the Romanian insurance industry. Without any doubt, the insurance industry will suffer because of the loans' restrictions. The business of the insurers and of the insurance brokers will slow down on this segment. Of course, MARSH Romania, like any large global company, has made an analysis and it has a new strategy in this period. Now adaptability is the biggest asset of a company, and MARSH has proven its ability to surpass difficult moments numerous times in its activity of over 138 years. XPRIMM: What do you estimate to be the medium and long term impact of the financial crisis on the brokerage insurance market? C. F.: We believe that these market conditions represent an opportunity for the insurance brokers and for prestigeous consultants such as MARSH, in particular. Clients are very careful at this time and they expect maximum efficiency in everything they do. Materialization of risks is now more likely to happen, and clients will see how insurance responds in a time like this. We believe this is a moment in which it will become clear that insurance is neither a mere formality, nor something without any substance. During this period, a well-prepared insurance programme can make the difference between success and failure. The global financial crisis is the moment of truth for many companies, and also for those who manage their insurance programmes. |
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| TOP PRESS |
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The insurance and reinsurance markets' elite is coming to FIAR! FADATA, once again, Main Partner of FIAR The biggest reinsurance brokers come to FIAR The Romanian insurance market, down 4% in the first two months
of the year The European Parliament has approved SOLVENCY II First quarter brings EUR 176 million for VIG in Romania OMNIASIG and ALLIANZ-TIRIAC - the "favorite" insurers
of the TOP 20 brokers Insurance companies have signed the cooperation protocol regarding
the amicable constat CEA opposes to the unification of supervision Insurers get 10% of the premiums cashed from mandatory households
insurance CERTASIG brings half a million euro to PAID The business of CREDIT Europe Asigurari increased by 40% in the
first quarter The capital of OTP Garancia Asigurari reaches EUR 20 million CERTASIG is increasing its share capital
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| CEE, RUSSIA&CIS |
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New round of negotiations between EUREKO and the Polish Government GROUPAMA inaugurated a new subsidiary in Hungary AVIVA takes over the insurance and pensions business of the ING
group from Russia International Conference on Risk Management in Almaty - a successful
debut 35% drop of the profits of the Lithuanian insurers |
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| FINANCIAL NEWS |
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ISARESCU: Romania is to join the euro-zone in 2014-2015 ROLAND BERGER: 50% of large local companies are expecting to exit
recession in 1-2 years ERSTE Bank plans to raise its capital by EUR 124.7 million and
to buy back stocks |
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| EVENTS | ||
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THE EDITORIAL STAFF: |
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| XPRIMM
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