Περιοδικό "Ασφαλιστική Αγορά": Μάϊος 2012

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A. STANDARD 20/11/1997 3.158 16.475.284,48 429.544,9721 90 20/11/1997 603 3.463.035,76 85.899,1922 91 16/07/1998 864 2.946.406,84 118.986,1423 92 INTRUST 20/04/1999 3.060 17.289.331,73 494.847,1224 93 28/01/2000 2.070 18.894.823,24 472.443,1025 94 . 28/01/2000 102 623.898,86 19.499,3326 95 ARGO 19/06/2001 2.309 14.089.968,98 448.752,5827 96 15/10/2001 786 4.966.007,09 157.681,3328 97 16/04/2003 969 3.063.768,18 136.983,9329 98 ASTRA 04/01/2006 3.782 35.769.362,97 802.599,7330 80 25/07/2006 3.309 18.339.124,75 511.278,2231 99 25/07/2006 5.457 39.491.994,64 1.222.887,8232 100 ECON 19/10/2006 3.995 24.640.650,03 599.229,9733 101 05/02/2007 11.953 86.969.167,07 2.161.083,3634 102 LEMONDE 05/02/2007 1.681 12.759.401,35 268.933,4735 1160 EOS INSURANCE CO 31/03/2009 5.221 20.532.153,37 569.179,1636 1107 21/09/2009 161 1.155.108,40 30.841,0737 1123 GENERAL UNION 21/09/2009 9.104 57.333.420,40 1.875.901,1338 1145 GENERAL TRUST 21/09/2009 2.099 11.938.736,00 397.247,0439 1148 21/09/2009 10.477 43.137.701,50 1.232.569,1440 5024 . . 21/09/2009 1.084 5.330.694,41 140.406,5241 5007 COMMERCIAL VALUE 25/02/2010 6.210 22.496.155,94 797.276,6542 1151 29/03/2011 1.916 3.008.876,43 214.851,8943 5051 EUROSTAR EAEAZ 02/05/2011 1.282 1.457.599,89 90.047,01 103.353 575.206.033,79 16.207.655,96epikouriko:Layout 125/04/201211:17Page 3()58(A 2012) , Generali , -- - , , -, - . / - Generali, . -, , - . -- - , .,.- - -,- , - , - . . , 6 , Generali . 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Lets think. 4 - , - , -, / Mindsearch. - , - - - . - ., -, - , , - , - - - . - - -, 4/4.|CARGLASS| - - - - , Carglass - - EqualSociety- . , - - 10 -- Carglass, Equal Society, - ,/ , -. Equal Society, - , - , - , - - . . -, , - - , -.| EFG UROLIFE |(NE A )| | - , , CorporateSuperbrands Greece 2011-2012. Corporate Superbrands 2011-2012 - - - Focus Bari - - - . -: G & - G G : ( & & ), ( & , ), (, & ), ( - ). -, 5 - , - , - - - -. , - -, . - , . ,Offer Director . nea:Layout 125/04/201212:04Page 10( 2012) 71| INTERAMERICAN | - Interamerican, - Medisystem, , - - .-,-Interamerican CASER - -, .-, , - , . -projects . , Interamerican - -, -Eurapco.-Achmea,Interamerican,-Caser,Covea,Gothaer,Swiss Mobiliar,-Lansforsakringar Tapiola. , - , 18 -.Eurapco, 1992, - -, , - - , .Eurapco . Caser, -Interamerican, - 3,3. 133. .INTERAMERICAN Interamerican Caser. O . 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(2000) . - - -: -, - , - , , - - . , - , - . - -: , - . , -.( & )86 ( 2012)8 - - - - - -, - - -. , - - - , - -.spondes:Layout 125/04/201212:30Page 4 www.aagora.gr ...spondes:Layout 125/04/201212:31Page 588 ( 2012)(ENGLISH SUPPLEMENT)We look back on a year thatplaced great demands on us.Our industry faced an unprece-dented cluster of severe natural catas-trophes. On top of this, we had tocontend with upheavals in governmentbond markets and persistently low inter-est-rate levels due to the continuing fi-nancial crisis. Against this backdrop, theexpectations we had at the beginning ofthe year were not fulfilled. It became ap-parent after the first quarter of 2011 thatthe consolidated result of 2.4bn wehad originally envisaged could no longerbe attained.In this exceptional situation, our inte-grated business strategy combiningprimary insurance and reinsuranceunder one roof and our managementphilosophy once again proved theirworth. For we were able to concludethe year with a positive annual result: a notable achievement and impressivetestimony to the Groups resilience.With our still robust capitalization andfavourable earnings prospects, we willbe able to propose an unchanged dividend of 6.25 a share at the AnnualGeneral Meeting, thus expressing ourthanks to you, our shareholders, for your confidence in us. Altogether, we will then have paid over 5bn in divi-dends since the beginning of the crisis,that is in the period from 2007 to 2011.In terms of dividend yield, this puts us atthe head of the field among DAX 30stocks.How did the individual fields of business perform?In primary insurance, ERGOs successfullaunching of its brand campaign in 2010was followed by a setback in 2011. Se-vere transgressions by individual em-ployees and agents became known inconnection with a series of disputes withintermediaries who had left HMI, anERGO structured sales organization.ERGO clearly acknowledged its responsi-bility, apologized, conducted an exten-sive inquiry and took the necessarycorrective measures. As a consequence,whith effect from 1 January 2012, thecompliance function was strengthenedsignificantly and assigned to a separateorganizational unit reporting to theERGO CEO. Furthermore, shortcomingsin processing business, which came tolight in the course of investigations intovarious allegations, were immediatelyand comprehensively addressed. ERGOnaturally remains committed to its goalof realizing its brand mission To insureis to understand and is pursuing it withgreat resolve. Likewise, ERGO is furtheradvancing the internationalization of itsbusiness, expanding its activities ingrowth markets such as Asia as well ascentral and eastern Europe.In reinsurance, market development isincreasingly heterogeneous. Playerswho want their business to be successfulmust therefore maintain close proximityto their clients and the markets in orderto identify individual market trends earlyon. We are ideally positioned throughoutthe world and can steer our business ac-cording to the individual state of themarket; we refer to the approach ascycle management. Overall, we are cur-rently seeing largely stable price levels,although certain loss-affected segmentsand countries are showing significantprice increases. It is also our aim to de-velop steadily profitable growth areasthrough innovation. A recent example ofthis strategy is the cover we provide inthe field of renewable energies, in whichwe see medium-term business potentialfor premium income in the mid three-digit billion euro range. In addition, weanticipate that demand for reinsurancewill continue to rise as a consequence ofthe financial crisis and the introductionof Solvency II. The solutions we offer ourclients in this area are flexible, cus-tomized and provide capital relief.Munich Health has continued its consoli-dation and achieved a solid result. Thebuild-up of our companies in Saudi Ara-bia and Qatar provides the basis for fur-ther growth in health business in thisregion. A potential liberalization of themarkets in the wake of the Arab Springmay also make private-sector solutionsmore accessible to the population andopen up further opportunities for us.One thing is certain: the internationalhealthcare market is growing and we areprepared for a rise in demand.How do we see the overall economic sit-uation for the current year? Given the on-going strong influence of political eventson the financial markets, we have everyreason to believe that market volatilitywill continue to be significant. In this re-gard, the resolution of the sovereigndebt crisis in the eurozone remains thestiffest challenge. Politicians undoubt-edly have a key role to play here. Theright balance must be struck betweenshort-term measures to secure the liq-uidity of governments and banks andlong-term measures to cut public debt aswell as reforms to strengthen competi-tiveness. Clearly, the latter will taketime; the priority must now be to restoreconfidence by seriously pursuing thesegoals. On this basis, greater integrationof economic and fiscal policy in the EUcan then follow.Munich Re broadly diversifies its invest-ments across different asset classes andregions. With this strategy and our disci-plined risk management, we are wellequipped to cope with greatly varyingcapital market scenarios. And we willthus remain a strong and reliable part-ner for our clients, a safe and profitableinvestment for our shareholders, and anattractive employer for our staff.Munich Re Consolidated result of 712mMunich Re Group published its Annual Report for the year 2011. We chose and present the Key figures of the Group as they are included in the report along with the letter to shareholders signed by Dr.Nikolaus von Bombhard, Chairman of Munich Re Reinsurance and companys Board of Management. 2011 has been an extraordinary year for the Group since it had to absorb the highest losses from natural catastrophes in its history while on the same time the financial markets found themselves in a very difficult situation.The annual report can be found at Munich Res website: www.munichre.com agglika1:Layout 125/04/201213:32Page 6( 2012) 89agglika1:Layout 125/04/201213:32Page 7(ENGLISH SUPPLEMENT)Premium (mil. ) 2011 2010GrowthLife2,115.072,295.63-7.9%Non-life2,653.382,838.86-6.5% Total 4,768.45 5,134.50 -7.1% Premium for 2011 for the most important insurance branches along with the respective growth in relation to 2010 was as shownin the following tables.Important non-life branches20112010Growth3.Land vehicles338,675,387.36399,318,006.77-15.2%7.Goods in transit27,563,597.3133,112,582.51-16.8%8.Fire and natural forces415,015,754.83454,742,174.16-8.7%9.Other damages to property119,641,270.24139,271,088.45-14.1%10.Motor vehicle liability1,366,790,740.431,418,034,041.62-3.6%13.General civil liability76,434,753.7084,824,517.79-9.9%Important life branches20112010GrowthI.Life1,299,437,135.391,638,219,746.56-20.7%III.Life insurancelinked to investments367,480,593.24281,936,633.52+30.3%Hellenic Association of Insur-ance Companies surveyed theGreek market regarding thepremium production for 2011. 61 insurance enterprises-membersresponded, which accumulated96.3% of premium (including policyfee) according to the insurance mar-kets full and published data for2010. From the above, 22 were ac-tive in Life insurance (99.0% marketshare) and 50 were active in theNon-life insurance (94.2% marketshare).After the comparison of the re-sponses to the survey of the above61 enterprises with the correspon-ding ones for 2010 of the same en-terprises (including those that weredriven out of business in the mean-time because of mergers and li-cence withdrawals), the followingwere concluded (on a cumulativebasis):90( 2012)Premium production in Greece4.77 billion in 2011, decreased by 7.1% over 2010Non - life premium production 2010-2011 (million c )Life premium production 2010-2011 (million c )1st Quarter 2nd Quarter 3rd Quarter Full year1st Quarter 2nd Quarter 3rd Quarter Full yearNon - life premium production 2010-2011 (million c )Life premium production 2010-2011 (million c )1st Quarter 2nd Quarter 3rd Quarter Full year1st Quarter 2nd Quarter 3rd Quarter Full yearagglika1:Layout 125/04/201213:33Page 2agglika1:Layout 125/04/201213:33Page 392 ( 2012)(NEW MARKETS IN NEW EUROPE)ROMANIAN INSURANCE MARKET 2011Insurance brokerage market in expansionBy Daniela Ghetu, Editorial Director, PRIMM Publications, RomaniaInsurance brokers made about 40% of the total GWP of the Romanian insurance market,according to official statistics released by ISC, the Insurance Supervisory Commission,the highest intermediation degree ever reached.Thus, the value of premiums me-diated by the 495 insurance bro-kers which reported to ISCexceeded RON 3.1 billion (EUR 732 mil-lion), showing a 3.6% decrease in Eu-ropean currency, as compared to2010, when the volume reached RON3.2 billion (EUR 760 million). Retro-specting this figure to the total under-writings volume in 2011, brokers madeup 39.9% (of the total EUR 1.84 billiongross written premiums), a slight in-crease compared to the 38.5% level in2010.The traditional role of brokers }nego-tiators of the conditions stipulated ininsurance contracts for clients and future policyholders, specialized financial consultants that give coun-seling regarding the insurance prod-ucts, before and during thenegotiation of contracts or regardingclaims payment} has progressed, andtheir responsibilities multiplied. It isvery important that brokers continueto stabilize the role they have in protecting the best interest of the policyholders, by maintaining a bal-anced relationship between insurersand their clients. The more the media-tions grow, the more important the role of consultant and representative of the policyholders interests becomes, stated Constantin Bu-zoianu, President of ISC.It is also interesting to observe that the intermediation market is a very dispersed one, less than 25 compa-nies holding an over 1% market share.According to the data published by In-surance Profile Review, Top 10 insur-ance brokers accounted in 2011 for35.7% of the total intermediated pre-mium volume, almost 2 percentagepoints more as compared to 2010.According to data reported from 97companies to Insurance Profile Review,EUR 22 million is the estimated value ofmediated underwritings on the life in-surance segment during last year. Thenumber represents, according to thepublication, a share of about 3% of thetotal mediated premiums and some5.5% of the life insurance GWP. Obvi-ously, life insurance it is not the pre-ferred business area of the insurancebrokers, only few companies dedicat-ing a significant share of their activityto this insurance line.Meanwhile, according to estimates, in2011 the Romanian non-life insurancebrokerage market decreased in Euro-pean currency by 3.7%. The amount ofmediated gross written premiums fromthis line of business amounted to overEUR 710 million.Despite the massive fall of the car salesfinanced by leasing operations, Motorinsurance accounted for the lionsshare of the insurance brokerage mar-ket, as it generated 75% (almost EUR550 million) of the total business of in-surance brokers. In fact, brokers madeabout 58% of the total motor underwrit-ings in 2011. On the Motor Hull segmentthe brokers quota was even higher, ofalmost 61%. Consequently, not acciden-tal that the leading brokerage compa-nies have all a very large share of theirbusiness coming from the motor insur-ance lines. Other insurance classes that have hadsignificant contributions to the interme-diation business volume were: prop-erty - 15% (over EUR 100 million) andGTPL - EUR 22 million mediated premi-ums, equivalent to three percentagepoints of the total insurance brokeragemarket.I ntermediation portfolio 2011LIFE INS URANCEPROPE RTYINS URANCEMOTORHULL MTPLCreditandwarrantiesins uranceFinanciallossins uranceLiabilityins uranceOthers1%1%3% 3%14%40%35%3%Portfolionew market:Layout 125/04/201212:43Page 2( 2012) 93- 10. 00 20. 00 30. 00 40. 00 50. 00 60. 00 70. 00 80. 00 I ntermediation degree 2011GWP MEDIATED GWP Intermediation degreeEUR m. % % EUR m. %TOTAL 1,836.76100.00100.00732.4239.88 LIFE INSURANCE398.4121.692.9621.655.43 NON-LIFE INSURANCE1,438.3578.3197.04710.7849.42 PROPERTY INSURANCE, of which 308.7016.8114.50106.2334.41 Fire and allied perils 274.4014.9411.0681.0429.53 Damages to property 34.301.873.4425.1973.46 MOTOR INSURANCE , of which 940.7651.2274.73547.3758.18 MOTOR HULL 474.6125.8439.52289.4660.99 MTPL466.1625.3835.21257.9255.33 Accidents and illness insurance17.210.940.604.3725.40 Health insurance10.430.570.584.2240.45 Rail transport means insurance, Aircraft insurance, Ships insurance (ocean, inland)added up10.290.560.564.0739.54 Goods in transit insurance including cargo, baggage and any other goods transportation10.780.590.735.3849.93 Credit and warranties insurance55.553.020.805.9010.61 Assistance of the persons in difficulty insurance13.760.750.241.7612.81 Liability insurance59.453.243.0122.0837.14 new market:Layout 125/04/201212:43Page 394 ( 2012)As far as the income generated by thebrokerage activity is concerned, it total-ized almost RON 596.5 million, up by11.33%as compared to 2010. 96%ofthis sum, meaning RON 572.2 million,represented income generated by thenegotiation of insurance contracts. In-comes fromloss settlements accountfor only a very small share, as there areonly a few brokerage companies li-censed to operate as loss adjustors.Among them, AVUS International is themost important, recording EUR 1.26 mil-lion in revenues fromits core activity,10%less than in 2010. 6(NEW MARKETS IN NEW EUROPE)No. CompanyNominalRealMediated premiums change changeMarket share (%)2011 2010 in EUR in RONEUR m. EUR m. % % 2011 20101 PORSCHE Broker47.72 59.22 -19.41 -23.31 6.52 7.792 MARSH Romania*44.83 46.38 -3.34 -8.02 6.12 6.103 UNICREDIT Insurance Broker43.22 51.21 -15.61 -19.70 5.90 6.744 AON Romania26.37 26.29 0.31 -4.55 3.60 3.465 SAFETY Broker23.18 14.37 61.29 53.48 3.16 1.896 DESTINE Broker17.75 11.31 56.97 49.37 2.42 1.497 PIRAEUS Broker16.01 14.53 10.17 4.83 2.19 1.918 GRAS SAVOYE Romania15.35 18.71 -17.98 -21.95 2.10 2.469 AIR Broker13.96 7.96 75.26 66.77 1.91 1.0510 TRANSILVANIA Broker13.40 8.16 64.21 56.25 1.83 1.0711 MILLENIUM Insurance Broker11.85 10.31 14.90 9.33 1.62 1.3612 RAIFFEISEN Broker*9.44 10.79 -12.49 -16.73 1.29 1.4213 CAMPION Broker9.07 4.92 84.36 75.43 1.24 0.6514 EURIAL Broker8.87 11.56 -23.26 -26.98 1.21 1.5215 POWER Insurance Broker8.28 10.43 -20.56 -24.41 1.13 1.3716 SRBA7.85 7.15 9.77 4.45 1.07 0.9417 OTTO Broker7.60 7.47 1.83 -3.10 1.04 0.9818 LACOLI Broker7.48 6.08 23.19 17.22 1.02 0.8019 DOMAS Insurance Broker6.96 3.35 107.86 97.79 0.95 0.4420 KUNDEN Broker6.87 6.70 2.55 -2.41 0.94 0.8821 MAXYGO Broker6.62 4.42 49.70 42.45 0.90 0.5822 ASIGEST5.46 7.33 -25.55 -29.15 0.75 0.9623 ASICONS Broker4.90 4.77 2.78 -2.20 0.67 0.6324 SAFE INVEST Romania4.11 6.00 -31.44 -34.76 0.56 0.7925 STAR Broker4.01 2.89 38.63 31.91 0.55 0.3826 ORIZONT Broker3.68 3.11 18.24 12.51 0.50 0.4127 ASTOP Broker3.57 5.17 -30.99 -34.33 0.49 0.6828 FREEDOM Insurance Broker3.19 0.00 0.00 0.00 0.44 0.0029 EPM Romania3.18 4.42 -27.98 -31.47 0.43 0.5830 ZURICH Broker3.04 1.50 103.43 93.57 0.42 0.20TOTAL** 732.42 760.04 -3.63 -8.30 100.00 100.00* Insurance Profile Review estimationRevenuesOn the life insurance intermediationsegment, the rankings remained un-changed as compared to 2010, KundenBroker maintaining its leadership posi-tion, with the most important contribu-tion: EUR 6.3 million (29% of the totalprofile market). On the non-life side, the tripletPorsche Broker, Unicredit InsuranceBroker, Marsh Romania continued tooccupy the Top 3 positions of themotor insurance ranking (Motor Hulland MTPL, added-up), totaling 20% ofthe market. At the same time, Marsh Romania,AON Romania and Grass Savoye Roma-nia are the leading intermediaries onthe property insurance segment (fireand allied perils and damage to prop-erty, added-up) and general liability in-surance line. It is also noteworthy the market shareheld by Zurich Broker on credit andwarranties insurance class: 25%, thecompany being in the first positionbased on the volume of mediated pre-miums.Market leadersnew market:Layout 125/04/201212:47Page 4( 2012) 95 , ., . , 2 1983: , , . , , , . , , , , - .. , , , . , , , . , . , . , . , .-, . , , , , . , , :. , 19 ..: , . , ,. , . . , . , ().. , 5 6, . . . . !( - ) , 2012new market:Layout 125/04/201212:47Page 5 - Actuarial Post. , B , if you want to go Greek, go to Kefalonia. - , - . , , , . , , (www.ActuarialPost. co.uk), ! insurance insight(www.insuranceinsight.eu) Marsh, , . - 2011, Marsh , - , -. , 5 2011. , , , , 72 . , - Business Insurance (www.businessinsurance.com), Willis Group Holdings P.L.C. - . Willis 2012, 7,5% 12,5%. 2,5% 7,5%. Willis 5% 5%.A "" periptero:Layout 125/04/201212:48Page 2