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Household insurance - out in the street
In economically uncertain times, protection of property and goods
becomes of special significance for everyone of us. If, initially,
population correctly perceived the need for household insurance,
recent contradictory messages are forcing the Romanians, cautious
and suspicious by nature, to remain in expectation until regulations
and messages become more consistent...
In the context of a still very low level of information and of inconsistencies
in the system, at a time when people need concrete data more than
ever, this week takes place the first information campaign on household
insurance.
Run during 21st-27th of February 2011, this is the largest campaing
of information and education for the population regarding the safety
of their houses, placing special emphasis on the voluntary and mandatory
insurance component, the procedures to be followed in case an insured
events produces and how to obtaining compensations.
Campaign brochure will address the differences between mandatory
household insurance and voluntary one, the main issues that a houseowner
needs to know if he wants to insure his home, and general safety
rules need taken into account.
Thus, the brochure will be distributed free, throughout the campaign,
in all major intersections in the capital and in the main 15 cities
in the country, in metro stations and major shopping centers.
The campaign is started by the Bucharest Prefecture, PAID - the Romanian
Insurance Pool Against Disasters, APPA - Association for Promoting
Insurance and it benefits from the support of all important insurance
and brokerage companies operating in the field. Media coverage of
the campaign message is delivered by Radio EUROPA FM, TVR Info, wall-street.ro,
9AM.ro and asigurarealocuintelor.ro.
andreea.ionete@mxp.ro
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The main challenge for the brokerage market is to maintain
at the same values as in the past years, under the circumstances
in which the insurance market will probably decrease by over
10%.
Viorel VASILE
Managing Partner, SAFETY Broker |
 XPRIMM:
What are the main challenges that the insurance brokerage market
has to face in 2011? How did the perception of clients regarding
the role of the insurance consultant change over the last year?
Viorel VASILE: The main challenge for the brokerage market is
to maintain at the same values as in the past years, under the circumstances
in which the insurance market will probably decrease by over 10%.
Due to massive restructuring and mergers on the insurance mediation
market, there were created the premises for the brokerage market
development. There is a tendency to develop nationwide brokerage
networks, development based on professional sales force among the
insurers.
Insurance consultants began to be increasingly better seen, especially
after the emergence and escaladation of the economic crisis. The
customers tendency to choose only one insurer brand (usually, reputable
companies) has disappeared and the customers started to choose the
insurers recommended by consultants, that have fair prices, adapted
to the crisis.
Insurance consultant's role is to assist the customer in case an
insured event will occur and here is the difference between insurance
agents, who only issue insurance policies, and insurance brokers,
who have dedicated after sales service on the claims part.
More
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 The
first review of the Romanian insurance market in 2010
by alex.rosca@mxp.ro
The decrease of the volume of gross written premiums in the previous
year is not surprising in the context of the evolutions from other
markets, said Angela TONCESCU, President, ISC, in the opening of
the event "The review of the Romanian insurance market in 2010". "These
figures reflect the activity of operators in the market that, during
a year of crisis, have managed to obtain these results. I want to
give my positive appreciation regarding the work done by all insurance
companies in Romania", she added.
 In
2010, the crisis has dropped the insurance market below the EUR 2
billion threshold
by alex.rosca@mxp.ro
According to preliminary estimates made by INSURANCE Profile, the
insurance market has dropped down, in 2010, below the EUR 2 billion
total gross written premiums. Insurance companies in Romania have
underwrote last year gross written premiums whose value is estimated
at EUR 1.96 billion, with about EUR 133 million less than the amount
recorded in late 2009.
 Romania,
a market with potential; we are on the penultimate place in Europe
regarding the degree of insurance penetration in GDP
by mihai.cracea@mxp.ro
Romania is on the penultimate place in Europe regarding the degree
of insurance penetration in GDP, according to an ERSTE Group Report.
While in other countries from Central and Eastern European region,
as the Czech Republic, a penetration rate of over 4% is recorded,
in Romania it has not exceeded 2% in 2009, the market presenting
thus a strategic interest for investors.
 GENERALI
Asigurari and ARDAF will merge under the name of GENERALI Romania,
to enter TOP 5 insurers
by andreea.ionete@mxp.ro
The GENERALI representatives in Romania have announced on the 18th
of February their intention to merge the two group companies held
on the local market, GENERALI Asigurari and ARDAF. The new entity
will be called GENERALI Romania, but it will activate on the market
with two independent brands, GENERALI and ARDAF, also maintaining
the two sales networks. The merger will strengthen the GENERALI group's
position, the growth in market share under these circumstances going
to "propel" the new company in Top 5.
The merger offers a great develpoment perspective for the benefit
of customers, employees, sales networks, partners and shareholders,
according to company representatives.
 ING
Asigurari de Viata increased by 3% in 2010, but the profit was reduced
to half
by andreea.ionete@mxp.ro
On the life insurance segment, 2010 has brought positive evolutions
in what retention is concerned and an increased appetite for products
that offer multiple benefits. In this context, ING Asigurari de Viata
has ended the year with an increase of 3% compared to 2009, as the
volume of gross written premiums rised to RON 543.4 million, while
gross profit decreased to RON 46.47 million, from RON 92.7 million
in 2009.
"The result is consistent with our set objectives and was influenced by
projects such as the launch of new products, expanding distribution channels
and increasing benefits and services offered to clients, along with investments
generated by the significant development of the Pillar III activity", the
company stated.
GROUPAMA
fell by 9.1% in Romania, in 2010
by andreea.ionete@mxp.ro
GROUPAMA, the third European player on the Romanian insurance
market, represented locally by GROUPAMA Asigurari and OTP Garancia,
ended 2010 with business of EUR 192 million, 9.1% less compared
to previous year, according to a report published by the French
group. This evolution is attributed to decisions taken by the
authorities to counter the severe effects of the economic crisis,
decisions that have led to lower purchasing power and, hence,
the credit freeze and the collapse of the leasing market. |
The
portfolio of RAI Asigurari is transferred to ARDAF
by andreea.ionete@mxp.ro
The Insurance Supervisory Commission has approved the transfer
of the general insurance portfolio of the company Roumanie
Assurance International (RAI Asigurari) to the company ARDAF,
decision that was published in the Official Gazette, Part I,
no.103 of February the 9th, current year. Thus, all 649 insurance
contracts issued by RAI Asigurari until July 31st, 2010, and
which were in force at the time of writing the delivery and
receiving document, respectively December 28th, 2010, have
been transferred. |
BCR
Asigurari VIG goes from iPhone Insurance Assistance to
Smartphone Insurance Assistance
by andreea.ionete@mxp.ro
After the premier launch of "iPhone Insurance Assistance",
a new BCR Asigurari premier is being launched today: the "BCR
Asigurari VIG - Insurance Assistance" application, on the Android
platform. |
Innovative
insurance products can hardly find their place in a decreasing
market
by mihai.cracea@mxp.ro
The economic context has lead to consumers budget cuts, including
of the sums assigned for insurance. Insurance companies customers
have less spending power, in the context in which not even
before was insurance a priority in people's budgets. |
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 International
Conference "Insurance in Central Asia" at its 5th edition
by olesea.serghiescu@mxp.ro
The 5th International Conference "Insurance in Central Asia", which
has become a tradition for leaders in insurance and reinsurance in
Central Asia, CIS countries and Central and Eastern Europe, will
be held on March 3rd-4th in Alma-Ata, Kazakhstan. PRIMM Insurance & Pensions
Magazine supports the event as Media Partner.
The conference will be attended by local and international insurance
companies, reinsurers, brokers, IT companies and officials of the
supervisory authority.
Among the topics to be addressed we find: the regulatory practices
of the insurance market in the region, analysis of economic crisis
on the profile market in Central Asia, developing effective coordination
strategy and the evolution of financial risk insurance and reinsurance
in local markets.
 Bulgarian
insurance market fell by 10% in 3Q/2010
by olesea.serghiescu@mxp.ro
EUR 730.6 million totaled the insurance market in Bulgaria during
January-November of 2010, with a decline of over 10% (EUR 27.2 million)
in comparison with the similar time of 2009, according to the financial
data published by the supervisory authority. Meanwhile, the volume
of claims paid by insurers amounted to EUR 363 million in August,
down 2% compared to the previous year.
Insurance
market in Belarus rose by 26.1% in 2010
by olesea.serghiescu@mxp.ro
Insurance companies in Belarus recorded in 2010 gross written
premiums worth USD 446 million, increasing by 26.1% in comparison
with 2009, showed the data provided by the Ministry of Finances.
The underwritings volume on the voluntary insurance segment
grew by USD 50.1 million, up to USD 223.1 million, and on the
mandatory insurance segment - by USD 24.1 million, reaching
USD 223.2 million.
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Zero
commission for the MTPL policies sold by Bulgarian brokers
by olesea.serghiescu@mxp.ro
Insurance brokerage societies in Bulgaria currently take no
commission for the MTPL policies, announces the INVESTOR.BG
web-portal. Also, according to it, many Bulgarian insurance
companies have not yet established the commissions for MTPL
brokers for this year, thus a significant number of brokerage
companies register zero commission in the accounting reports. |
Croatia:
Insurance market fell in January
by vlad.boldijar@mxp.ro
In January 2011, 26 Croatian insurers registered an underwritings
volume of EUR 115.8 million, dropping EUR 10.12 thousand
from January 2010, according to the preliminary data remitted
by the Croatian Insurers Office.
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AGEAS
enters the Turkish general insurance market
by ana.preda@mxp.ro
AGEAS (former FORTIS) has signed an agreement last week with
SABANCI Holding, a leader of the industrial and financial markets
in Turkey, to purchase a 21% share of AKSIGORTA AS, the fourth
general insurance company at local level, with 8% market share. |
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Exports
save Romanian economy
www.nineoclock.ro
Romanian electronic products are the best-selling products
for export, replacing car parts, which had held the lead
position until 2009, according to Money.ro.
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PETROM
- over RON 2 billion net profit
www.nineoclock.ro
The oil company OMV PETROM reported, last year, 2.6 times higher
net earnings, of RON 2.19 billion, and a 16 pc rise in sales,
as a consequence of the rising crude oil prices and of a more
effective refining and marketing activity, Mediafax reports. |
2010
was the year with steepest air traffic rise in Romania
www.nineoclock.ro
Air traffic growth in Romania, as well as Europe was extensively
debated during the second edition of the "Romania, Open Sky" event
organised by "Nine O'Clock" in co-operation with the Romanian
Air Traffic Services Administration ROMATSA. |
DACIA
Duster gets three stars in Euro NCAP crash tests
www.nineoclock.ro
DACIA Duster has scored three stars out of five in the Euro
NCAP crash tests, scoring 74 percent in adult occupant safety
and 28 percent in pedestrian safety, Mediafax informs. DACIA
Duster also scored 78 percent when it comes to child occupant
safety and 29 percent when it comes to safety assist. |
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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
Senior Editors: Vlad
PANCIU, Oleg DORONCEANU
Editors: Vlad
BOLDIJAR, Oana RADU, Mihai CRACEA, Andreea STATE
Junior Editor: Dora
ALECU, Olesea SERGHIESCU
Accounts Manager: Georgiana
OPREA
IT Department: Octavian
GRIGOR, Dorin PALADE, Cosmin ARMASESCU
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©2011 Media XPRIMM |
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| EVENTS |
V International Conference "Insurance in Central Asia"
March 3rd-4th, 2011
Alma-Ata, Kazakstan
Organizer: INTERCONSULT
Media Partner: PRIMM Magazine - Insurance & Pensions
For details: www.wfin.kz
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CEE Insurance and Pension Funds 2011
March 8th, 2011
Warsaw, Poland
Organizer: East Euro Links Events
Media Partner: PRIMM Magazine - Insurance & Pensions
For details: www.easteurolink.co.uk
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International Reinsurance Conference - 15th Edition
March 24th-25th, 2011
Moscow, Russia
Organizer: ARIA
Media Partner: PRIMM Magazine -Insurance & Pensions
For details: www.re-conference.ru
|
International Insurance Mediation Conference - 1st Edition
March 28th-29th, 2011
Istanbul, Turkey, HYATT Hotel
Organizer: Media XPRIMM and Istanbul Underwriting Center
With the Official Support of: UNSICAR
With the Support of: SAIPRO and INSMARKET
Official web-page: www.xprimm.com
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VII International Risk Management Conference
April 14th-15th, 2011
Alma-Ata, Kazakstan
Organizer: EURASIA Insurance Company
Media Partner: PRIMM Magazine -Insurance & Pensions
For details: www.IRMC.kz
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Tashkent International Insurance Forum
April 14th-17th, 2011
Tashkent, SAIPRO
Organizer: Media XPRIMM
Media Partner: PRIMM Magazine - Insurance & Pensions
Official web-page: www.tiif.uz
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II Central European L&H Leadership Forum
May 17th-18th, 2011
Vienna, Austria
Organizer: Russian POLIS Information Group
Media Partner: PRIMM Magazine - Insurance & Pensions
For details: www.in-sure.ru
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FIAR - International Insurance-Reinsurance Forum
May 23rd-26th 2011
Sinaia, Romania
14th Edition
Organizer: Media XPRIMM
Official web-page: www.fiar.ro
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3rd CEA International Insurance Conference - "Insurance
reform: opportunity or threat?"
June 16th, 2011
Divani Apollon Palace & Spa, Vouliagmeni, Athens, Greece
Organizer: CEA - Comite Europeen des Assurances
For details: conference.cea.eu |
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