Property insurance increased in CEE; in Romania it fell
 In 2009, underwritings correspondent to propery insurance (fire, natural disasters and damage to property, added up) experienced a decline of about 9.7%. This decrease is in contrast to what happened in Central and Eastern Europe, the nominal evolution of the CEE market in 2009 being a positive one, of 2.8%, according to Special Report "CEE, RUSSIA & CIS INSURANCE MARKETS 2009".
The biggest depreciations on the property insurance segment were registered on the insurance markets in Macedonia (-40%), Lithuania (-35%), Latvia (-29%) and Serbia (-13.5%). Also, smaller decreases were registered on the Hungarian market: 2%.
More stable insurance markets in economically developed countries that form Central and Eastern Europe region recorded, despite a "crisis" 2009, significant increases on the property insurance segment: Slovenia (+14.5%), Poland (+13 6%), Czech Republic (+7.6%).
Overall, in 2009, property insurance generated, in the CEE area, a volume of underwritings of EUR 3.52 billion, up 2.8% compared with the previous year.
A comprehensive analysis of the evolution of insurance markets of CEE, Russia & CIS countries can be read only in the most recent special issue of PRIMM Insurance & Pensions Magazine, which contains the updated summary data for 2009, with information related to markets in the region and, also, a regional assessment of the particular way in which the financial crisis has exerted an influence on the economies and insurance markets in the area.
The release date of the next special report, with information from the first half of this year, is October 24, 2010, during the annual meeting of insurers and reinsurers at Baden-Baden, at the Baden-Baden XPRIMM Symposium.
Author: Vlad BOLDIJAR
on 14.06.2010
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