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The rates for the trade credit insurance rose even by 50% in 2009
compared to 2008, with the increase of payment incidents due to the
economical situation. The claim rates registered by insurers due to the
nonpayment of insured companies' account receivables by their debtors
exceeded 100% even reaching 150%, according to AON Romania
representatives.
more...
(31.08.2010)
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UNIQA Asigurari de viata started it's activity in the Romanian market by
selling it's first life insurance product. The policy was sold within
an insurance package dedicated to a corporate client and offers the
specific protection of a life insurance, along with complementary
medical services.
more...
(01.09.2010)
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Violeta CIUREL will become president of AXA Romania and will be
subordinated to Cyrille de MONTGOLFIER, CEO,AXA Central and Eastern
Europe.
more...
(01.09.2010)
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EUROINS Romania ended the 1st half of 2010 with a 1.5% business
increase. Therefore, the company's underwritings reached EUR 42.3
million in comparison with EUR 41.6% million in the first six months of
2009. Amid the 2010 strategy, focused on portfolio diversification, the
MTPL share decreased from 89.3% to less than 87% of the total
underwritings, after this line underwritings volume was multiplied by
four in the 1st semester of 2009.
more...
(01.09.2010)
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After ALLIANZ- TIRIAC has held supremacy on the Romanian market for a
long time, according to preliminary results of the first half, this
position will be taken by ASTRAL Asigurari. However, considering the
difficult conditions in the economy at this time, the ranking at the end
of the year will be difficult to estimate. Moreover, according to the
General Manager of ALLIANZ- TIRIAC, Rangam BIR, being the first company
in the market means an aggregate of attributes that the company is
forced to possess in an increasingly stronger competitive environment.
more...
(02.09.2010)
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ALLIANZ-TIRIAC Asigurari has announced the share capital increase by
over 40%, from RON 66.6 million to RON 94.4 million. The operation,
achieved by incorporating 94% of net profit earned by the company last
year, totaling over RON 29.6 million, was registered at the Trade
Office, after having been previously approved by the Insurance
Supervisory Commission.
more...
(06.09.2010)
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In the last two years, credit insurers have revised and decreased both
the exposures to countries and sectors, and to individual customers. For
those interested in buying an insurance, this meant an unprecedented
reduction of available credit limits. As claims size and frequency
increase, both insured and insurers are pressured by claims processing
and by collection of debts.
more...
(31.08.2010)
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Up to EUR 375 million (RON 1.55 billion) amounted the brokerage
insurance market in the first six months of this year - show the
estimates of INSURANCE Profile Specialty Review. Compared to the
correspondent period of the previous year, the insurance brokerage
market decreased in EUR by 3.85%.
more...
(30.08.2010)
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While the stabilization of the economy and of financial markets in the
latter part of 2009 is likely to reduce tension in the insurance market,
weak economic environment makes it difficult to reach, in the next
period, sustained and alert growth rates of the profile market, shows
the Financial Stability report for 2009, recently published by the NBR.
more...
(27.08.2010)
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Insurance-reinsurance broker OLSA Re is supporting as Main Partner the
second edition of Baden-Baden XPRIMM Reception taking place on October
24th 2010. As part of the campaign launched last year by the Romanian
insurance industry in Baden - Baden, this event will gather leaders and
specialists in insurance, reinsurance and related areas, who attend the
traditional Meetings in Baden-Baden.
more...
(26.08.2010)
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After the first six months of this year, the Romanian insurance market
amounted to EUR 1.04 billion, equivalent to RON 4.33 billion, according
to preliminary data collected from insurance companies by INSURANCE
Profile Specialty Review.
more...
(25.08.2010)
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The Insurance and Reinsurance Company EXIM Romania (CARE), whose
majority shareholder is EXIMBANK - the Export-Import Bank of Romania,
has received from the Insurance Supervisory Commission the functioning
authorization for credit and guarantees insurance classes, obtaining
the number R.A. 067/10.08.2010 in the Register of Insurers.
more...
(16.08.2010)
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In the first six months of the year, the companies from Romania members
of VIENNA Insurance Group have underwritten premiums of EUR 274
million, down by 12.5%.
Underwritings on the non-life segment reached EUR 225.7 million,
registering declines following the portfolio restructuring, aiming to
focus on profitability.
more...
(19.08.2010)
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OMNIASIG, member of VIENNA Insurance Group, ended the first half of the
year with a 18.8% decrease of business compared to H1/2009, to RON
484.15 million, under the circumstances of the decline on the motor
class. Instead, a policy of cost effectiveness and optimization of
company's activity has led to a gross profit of RON 14.6 million,
according to IFRS standards.
Also, in the first six months of this year, the amount of paid claims fell by 18.7%, to RON 363.4 million.
more...
(24.08.2010)
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BCR Asigurari de Viata continues ascending in the life insurance
business with a growth of 81% of gross written premiums in the first
semester of 2010. The company also reported a profit of almost RON 22
million, 197% more than the 1st half of 2009.
more...
(25.08.2010)
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ARDAF, company member of GENERALI PPF Holding, maintains on the black
in the first half of the year, ending the period with a positive
financial result of RON 9 million. However, the company's business in
the same period saw a decline of 13.5%, to RON 141 million, announced
ARDAF on the 17th of August.
more...
(16.08.2010)
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The company ASIROM has sold so far over 14,000 policies of the new MTPL
product. It has a Motor Hull policy attached, which will work only if
the MTPL policyholder of ASIROM is injured by a driver who owns a motor
third party liability insurance policy from another company.
more...
(23.08.2010)
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AVIVA life insurance company registered in the first six months of the
year an increase in assets under management of 21.4%, compared to the
end of 2009, up to the amount of RON 600 million.
Also, income from the company's gross written premiums has registered a
17% decrease, to RON 40 million. Three causes were at the basis of this
result, according to Mihai POPESCU, CEO, AVIVA Romania: the evolution
of bancassurance segment, the termination of policies and the
adjustment of the way of calculation of annualized premiums. Sales were
evenly distributed between the protection products and those with
savings component - unit-linked.
more...
(18.08.2010)
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By the end of this year, maximum 2.5 million homes will be insured,
shows a recent survey of 1asig.ro. Thus, almost 30% of respondents
expect the penetration rate of mandatory household insurance to be
between 10% and 30% by the end of 2010, while a share of 28% estimate
that it will stay below 10%.
more...
(18.08.2010)
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The insurance brokerage company OTTO Broker has mediated, in H1/2010, a
premium volume of RON 14.6 million, double compared to the same period
in 2009, when mediations amounted to RON 7.35 million. Incomes of the
broker have also doubled, to over RON 2.4 million.
more...
(23.08.2010)
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