The Motor Insurance Development Tendency in Azerbaijan. Romania, Azer A.Aliyev Executive director

Size: px
Start display at page:

Download "The Motor Insurance Development Tendency in Azerbaijan. Romania, 2012. Azer A.Aliyev Executive director"

Transcription

1 The Motor Insurance Development Tendency in Azerbaijan Romania, 2012 Azer A.Aliyev Executive director

2 CONTENT: About Azerbaijan Azerbaijan Insurance market overview Insurance Legislation Motor Insurance Compulsory Insurance Bureau Existing problems

3 GENERAL INFORMATION Establishment: 28 May 1918 Currency: Manat Independence: 18 October 1991 Capital: Baku Official Language: Azerbaijanian Population: 9 million Area: 86.6 ths. sq. km. Political system: Presidential Republic

4 MACROECONOMIC FIGURES mln $ GDP $ GDP per Capita Azerbaijan mln $ Investments 5.5% Unemployment Rate 7.9% Inflation

5 COUNTRY RATINGS

6 GDP PER CAPITA & INFLATION RATE (mln USD) 2 471, ,7 16,7% 5 603,3 20,8% 5 018, , ,4 8,3% ,5% ,7% 7,9% 2011

7 MARKET PLAYERS Insurance Non Life Companies Insurance Brokers Insurance Life Companies Reinsurance Companies April 2012

8 MAIN MARKET PLAYERS 2 representatives of foreign IC 6 Brokers AZERBAYCAN INSURANCE MARKET 23 Non-life companies 1 Reinsurance company 3 life insurance companies

9 INSURANCE PREMIUMS (mln USD) % % 15% 21% Premium growth (%) % % 2011 The main reasons for 72.8 mln $ (37%) premiums increase in 2011 are: - life 25.8 mln $ - auto 10.6 mln $ - medical 6.4 mln $ - others 30 mln $

10 STRUCTURE OF INSURANCE PREMIUMS (mln USD) 1,1 (0,5%) 1,8 (0,9%) 28,6 (10,6%) 206 (99,5%) (99,1%) (89,4%) Non-Life Life

11 VOLUNTARY AND COMPULSORY INSURANCE (MLN USD) 66 (24%) 38 (18%) 40 (20%) 169 (82%) (80%) (76%) Voluntary insurance 2011 Compulsory insurance

12 INSURANCE PREMIUM STRUCTURE, 2011 Motor (56,9 Mln $) 6% 6% 1% 14% 21% 15% Compulsory (40,6 Mln $) Property (37,7 Mln $) Medical (36 Mln $) Life (27,6 Mln $) 10% Liability (16,4 Mln $) 13% 14% Cargo (16,2 Mln $) Motor 3d party Liability (1,4 Mln $) Other (37,1 Mln $) TOTAL 270 Mln $

13 INSURANCE PREMIUM STRUCTURE, % 47% 71% 88% Total premium TOP 5 TOP 10 TOP 15

14 INSURANCE LEGISLATION Main laws that affected the development of Azerbaijan insurance market: Insurance Activity Law, that was adopted on 2008 Compulsory Accident at Work Law, adopted on 2010 Compulsory Insurance Law, adopted on 2011 compulsory real property insurance compulsory 3d party liability insurance in motor vehicles compulsory 3d party liability insurance with use of real property compulsory personal accident insurance of passengers

15 $ mln. MOTOR INSURANCE (VOLUNTARY CAR INSURANCE) Premiums gathered 2011 Claims paid

16 $ mln. MOTOR INSURANCE (3D PARTY LIABILITY IN MOTOR VEHICLES) 0,33 0,12 0,34 1,36 1,39 1, Premiums gathered 2011 Claims paid Only during January April 2012 the market gathered mln $ on this type of insurance

17 COMPULSORY INSURANCE BUREAU Compulsory Insurance Bureau Created organized by Insurance regulator and Insurance companies New legislation in force, regulating MTPL product and administration All participants must use central IT system for Policy issue process and Claims data submission From 2013 Bonus-Malus system will start to work

18 COMPULSORY INSURANCE BUREAU Online system, all policies are issued from central system in REAL-TIME! Insurance companies can use web interface or integrate with Compulsory Insurance Bureau system Public Services possibility to check policy via web page or sms Integrations with state registers in process Plan to add all mandatory insurance products in system

19 EXISTING PROBLEMS YOUR TEXT HERE Luck of experience working on retail market (absence of the extensive agent network, weak insurance propaganda among population) YOUR TEXT HERE Luck of a single strategy directed to the popularization of the obligatory and voluntary insurance between all market players, both government and commercial organizations? YOUR TEXT HERE Luck of professional insurance education YOUR TEXT HERE Luck of a long-term development strategies inside the companies

20 The 3-d Azerbaijan International Insurance Forum organizers Azerbaijan Insurers Association with the support of the State Insurance Supervision Service under the Ministry of Finance of the Republic of Azerbaijan and Media XPRIMM Romanian PR company. The main theme of the Forum is: Trends and prospects on the insurance market of the Caucasus Region. Investment and reinsurance opportunities. Expected number of guests at the Forum about 200. The 3-d Azerbaijan International Insurance Forum will be held 4-5 July 2012 in Jumeirah Bilgah Beach Hotel in Baku

21 THANK YOU

2. China Life and Non-Life Insurance Market Size by Value, 2008-2015

2. China Life and Non-Life Insurance Market Size by Value, 2008-2015 TABLE OF CONTENTS 1. China Insurance Market Introduction 2. China Life and Non-Life Insurance Market Size by Value, 2008-2015 3. China Life and Non-Life Insurance Density, Premium per Capita, USD, 2001-2015

More information

Insurance sector consolidated report profit and loss statement (2008-2009)

Insurance sector consolidated report profit and loss statement (2008-2009) 21. INSURANCE AND REINSURANCE The Ministry of Economy and Trade is the source of insurance statistics which deal with insurance companies, with the sector consolidated progress, balance sheet and profit

More information

3. Turkey Life and Non-Life Insurance Market Size by Value, 2001-2015

3. Turkey Life and Non-Life Insurance Market Size by Value, 2001-2015 TABLE OF CONTENTS 1. Turkey Insurance Market Introduction 2. Turkey Insurance Market Structure 2.1. Number of Insurance Companies in Turkey, 2001-2009 2.2. Headcount in Turkey Insurance Sector, 2001-2009

More information

VIETNAMESE INSURANCE MARKET

VIETNAMESE INSURANCE MARKET VIETNAMESE INSURANCE MARKET Tran Thanh Tu Deputy Director Insurance Research and Training Center Insurance Supervisory Authority of Vietnam 1 AGENDA Market Overview Market History Market Performance Supervisory

More information

Non-Life Insurance in Canada, Key Trends and Opportunities to 2019

Non-Life Insurance in Canada, Key Trends and Opportunities to 2019 Brochure More information from http://www.researchandmarkets.com/reports/3508625/ Non-Life Insurance in Canada, Key Trends and Opportunities to 2019 Description: The 'Non-Life Insurance in Canada, Key

More information

a. motor third liability insurance, which offers payment for damage resulting from car accidents, including the transporter s responsibility (MPTL);

a. motor third liability insurance, which offers payment for damage resulting from car accidents, including the transporter s responsibility (MPTL); MOTOR THIRD PARTY LIABILITY INSURANCE IN ROMANIA DănuleŃiu Dan-Constantin Decembrie 98 University of Alba Iulia, e-mail: danuletiu.dan@gmail.com The existence of third party allows the third party who

More information

Ministry of Finance. Insurance. Bureau

Ministry of Finance. Insurance. Bureau Ministry of Finance Capital Market and Financial Institutions Supervisory Agency Other Directorat General/Agency Other Echelon I unit Research and Information Technology Bureau Insurance Bureau Other Other

More information

Non-Life Insurance in Australia

Non-Life Insurance in Australia Brochure More information from http://www.researchandmarkets.com/reports/1954662/ Non-Life Insurance in Australia Description: Introduction Non-Life Insurance in Australia industry profile provides top-line

More information

1.4. North America Life and Non-Life Insurance Market Size by Value, 2001-2015

1.4. North America Life and Non-Life Insurance Market Size by Value, 2001-2015 TABLE OF CONTENTS 1. North America Insurance Market 1.1. North America Insurance Market Introduction 1.2. North America Insurance Market Drivers 1.3. North America Insurance Market Restraints 1.4. North

More information

2.1. Number of Insurance Companies in Portugal, 2001-2009 2.2. Headcount in Portugal Insurance Sector, 2001-2009

2.1. Number of Insurance Companies in Portugal, 2001-2009 2.2. Headcount in Portugal Insurance Sector, 2001-2009 TABLE OF CONTENTS 1. Portugal Insurance Market Introduction 2. Portugal Insurance Market Structure 2.1. Number of Insurance Companies in Portugal, 2001-2009 2.2. Headcount in Portugal Insurance Sector,

More information

INSURANCE SUPERVISION DEPARTMENT INSURANCE SECTOR IN SERBIA

INSURANCE SUPERVISION DEPARTMENT INSURANCE SECTOR IN SERBIA INSURANCE SUPERVISION DEPARTMENT INSURANCE SECTOR IN SERBIA Report for First Quarter 2015 National Bank of Serbia Contents: 1. Insurance market... 4 1.1. Market participants... 4 Insurance undertakings...

More information

INSURANCE SUPERVISION DEPARTMENT INSURANCE SECTOR IN SERBIA

INSURANCE SUPERVISION DEPARTMENT INSURANCE SECTOR IN SERBIA INSURANCE SUPERVISION DEPARTMENT INSURANCE SECTOR IN SERBIA Third Quarter Report 2014 National Bank of Serbia Contents: 1. Insurance market... 4 1.1. Market participants... 4 Insurance companies... 4 Other

More information

Economic and Social Council. Measurement of Non-Life Insurance Services in the National Accounts of Israel

Economic and Social Council. Measurement of Non-Life Insurance Services in the National Accounts of Israel United Nations Economic and Social Council ECE/CES/GE.20/2014/3 Distr.: General 12 February 2014 English Original: Russian Economic Commission for Europe Conference of European Statisticians Group of Experts

More information

Annex 7. Fact Sheet Estonia

Annex 7. Fact Sheet Estonia Annex 7. Fact Sheet Estonia 1. Generalities: Some history of the agricultural risk and crisis management policies, programs and tools. Population: 1, 36 million inhabitants GDP 2004 9,4 billion Euro; Inflation

More information

Motor Insurance Trends and Specifities in SE Europe

Motor Insurance Trends and Specifities in SE Europe Motor Insurance Trends and Specifities in SE Europe MARKET OF THE TRIGLAV GROUP Countries: Slovenia, Croatia, Serbia, Bosnia and Herzegovina, Montenegro, Macedonia, Czech Republic Population: 30.9 million

More information

Property and casualty insurance business in Switzerland

Property and casualty insurance business in Switzerland Property and casualty insurance business 15 Premium revenue Total premiums Accident insurance* Accident insurance* 2 762 2 821 2 818 Health insurance* (without compulsory basic health insurance) 6 323

More information

THE INSURANCE MARKET OF THE REPUBLIC OF MOLDOVA IN TERMS OF INVESTMENT POTENTIAL

THE INSURANCE MARKET OF THE REPUBLIC OF MOLDOVA IN TERMS OF INVESTMENT POTENTIAL THE INSURANCE MARKET OF THE REPUBLIC OF MOLDOVA IN TERMS OF INVESTMENT POTENTIAL PhD Angela TIMUŞ * Cristina UNGUR ** Abstract The financial market of the Republic of Moldova has been characterized by

More information

Insurance Activities 2014

Insurance Activities 2014 Financing and incurance 2015 Insurance Activities The value of insurance companies' investments stood at EUR 116.2 billion at the end of The balance sheet value of investment activities amounted to EUR

More information

Insurance Supervision Department. The Saudi Insurance Market Survey Report

Insurance Supervision Department. The Saudi Insurance Market Survey Report Insurance Supervision Department The Saudi Insurance Market Survey Report Table of Contents Introduction...3 Overall Insurance Market Performance Gross Written Premiums Overall.. 5 Insurance Penetration

More information

VEHICLE DAMAGE PROFIT DECREASE FACTOR FOR THE ROMANIAN INSURANCE MARKET

VEHICLE DAMAGE PROFIT DECREASE FACTOR FOR THE ROMANIAN INSURANCE MARKET VEHICLE DAMAGE PROFIT DECREASE FACTOR FOR THE N INSURANCE MARKET Gherasim Soloveru DOMIDE*, Alexandru DOMIDE**, * Academy of Economic Studies, Buchare, Romania, ** Rocredit Broker, Baia Mare, Romania Abract:

More information

Non-life insurance* Estonian Financial Supervision Authority, 21 March 2005. (thousand kroons) January 2005. Seesam Kindlustus. If Eesti Kindlustus

Non-life insurance* Estonian Financial Supervision Authority, 21 March 2005. (thousand kroons) January 2005. Seesam Kindlustus. If Eesti Kindlustus Estonian Financial Supervision Authority, 21 March 2005 Non-life * (thousand kroons) January 2005 ETIF** Motor TPL PR 22 943 32 705 5 618 5 592 12 889 3 945 143 83 835 incl membership fee to ETIF PR 644

More information

Insurance Activities 2012

Insurance Activities 2012 Financing and incurance 2013 Insurance Activities The value of insurance companies' investments stood at EUR 108.5 billion at the end of The largest investment activity items in insurance activities are

More information

e-insurance - ASPECTS REGARDING THE ROMANIA ON-LINE INSURANCE MARKET

e-insurance - ASPECTS REGARDING THE ROMANIA ON-LINE INSURANCE MARKET e-insurance - ASPECTS REGARDING THE ON-LINE INSURANCE MARKET Gherasim Solovestru DOMIDE*, Adrian Dumitru SOLOMON**, Alexandru DOMIDE *** * Academy of Economic Studies, Bucharest, Romania, ** National School

More information

Chilean Insurance Market Overview

Chilean Insurance Market Overview Chilean Insurance Market Overview London, October 14 th, 2014 Jorge Claude Executive Vice President Asociación de Aseguradores de Chile Agenda 1. Chilean Economy & Insurance Market at a glance 2. Non-Life

More information

Guidelines for Establishment of an Insurance Business in Ajara Ministry of Finance and Economy of Ajara 2012

Guidelines for Establishment of an Insurance Business in Ajara Ministry of Finance and Economy of Ajara 2012 Guidelines for Establishment of an Insurance Business in Ajara Ministry of Finance and Economy of Ajara 2012 CONTENT Founding an Insurance Business Overview of Insurance Market Founding an Insurance Business

More information

Supervisory Practice in Insurance Market Republic of Srpska

Supervisory Practice in Insurance Market Republic of Srpska Challenges and Practice in Supervision of Insurance Companies in Southeast Europe Supervisory Practice in Insurance Market Republic of Srpska Insurance Agency of Republic of Srpska Božana Šljivar, Director

More information

This is a licensed product of Ken Research and should not be copied

This is a licensed product of Ken Research and should not be copied 1 TABLE OF CONTENTS 1. Asia-Pacific Insurance Industry 1.1. Industry Introduction 1.2. Asia-Pacific Insurance Market Size by Direct Written Premium, 2005-2012P 1.3. Asia-Pacific Insurance Market Segmentation

More information

Considerations on Albanian Life Insurance Market

Considerations on Albanian Life Insurance Market The Romanian Economic Journal 133 Considerations on Albanian Life Insurance Market Gentiana Sharku 1 Brikena Leka 2 Etleva Bajrami 3 The life insurance sector is an important sector of the economy all

More information

NBS activities in Insurance market... 4 General indicators... 4 Market participants... 7 Insurance portfolio structure...

NBS activities in Insurance market... 4 General indicators... 4 Market participants... 7 Insurance portfolio structure... INSURANCE SECTOR IN SERBIA 2010 report NBS activities in 2010... 2 Insurance market... 4 General indicators... 4 Market participants... 7 Insurance portfolio structure... 8 Balance sheet total and balance

More information

Report on Insurance Market in Montenegro 2012

Report on Insurance Market in Montenegro 2012 Report on Insurance Market in Montenegro 2012 Report on insurance market in Montenegro for 2012 June, 2013 Report on Insurance Market Situation in Montenegro 2012 Published: Annualy Publisher: Montenegro

More information

Brazil Insurance Market Intelligence

Brazil Insurance Market Intelligence Brochure More information from http://www.researchandmarkets.com/reports/1213330/ Brazil Insurance Market Intelligence Description: Brazil is the largest insurance market in Latin America and the 10th

More information

/ Insurance. Regional Highlights * Bosnia and Herzegovina. karanovic/nikolic. /March 2015/

/ Insurance. Regional Highlights * Bosnia and Herzegovina. karanovic/nikolic. /March 2015/ / Insurance Regional Highlights * /March 2015/ The insurance sector in South Eastern Europe has undergone considerable change in recent years, marked by Croatia s accession to the EU, amendments to legislation

More information

The Insurance Industry in Ethiopia, Key Trends and Opportunities to 2017

The Insurance Industry in Ethiopia, Key Trends and Opportunities to 2017 Brochure More information from http://www.researchandmarkets.com/reports/2564529/ The Insurance Industry in Ethiopia, Key Trends and Opportunities to 2017 Description: The Ethiopian insurance industry

More information

Polish insurance market: growth and potential

Polish insurance market: growth and potential Polish insurance market: growth and potential Polish Insurance Association June 2012 Table of contents 1. Polish insurance market general information 2. Non life insurance in Poland 3. Life insurance in

More information

TRANSPORT SYSTEM OF AZERBAIJAN: OPPORTUNITIES AND PERSPECTIVES FOR GLOBAL LOGISTICS AS A BASE FOR REGIONAL INTEGRATION. INVESTMENT PROJECTS.

TRANSPORT SYSTEM OF AZERBAIJAN: OPPORTUNITIES AND PERSPECTIVES FOR GLOBAL LOGISTICS AS A BASE FOR REGIONAL INTEGRATION. INVESTMENT PROJECTS. THE REPUBLIC OF AZERBAIJAN MINISTRY OF TRANSPORT AZERBAIJAN ITALY BUSINESS FORUM TRANSPORT SYSTEM OF AZERBAIJAN: OPPORTUNITIES AND PERSPECTIVES FOR GLOBAL LOGISTICS AS A BASE FOR REGIONAL INTEGRATION.

More information

Azerbaijani motor insurance market recent developments. Elkhan GULIYEV, Executive Director, Compulsory Insurance Bureau, Azerbaijan

Azerbaijani motor insurance market recent developments. Elkhan GULIYEV, Executive Director, Compulsory Insurance Bureau, Azerbaijan i motor insurance market recent developments Elkhan GULIYEV, Executive Director, Compulsory Insurance Bureau, GENERAL INFORMATION Republic of Territory: Neighbor Countries: Population as of 2014: Total

More information

Australia Insurance Market Outlook to 2016 - Rising Importance of Household Insurance

Australia Insurance Market Outlook to 2016 - Rising Importance of Household Insurance Brochure More information from http://www.researchandmarkets.com/reports/2534710/ Australia Insurance Market Outlook to 2016 - Rising Importance of Household Insurance Description: The report Australia

More information

Lockton Mexico An Overview

Lockton Mexico An Overview Lockton Mexico An Overview L O C K T O N M E X I C O Who are we? The largest privately held, independent insurance broker in the world. Our unique structure Private and independent, allows us to provide

More information

Massachusetts Private Passenger Automobile Statistical Plan Part VI - Coding Section

Massachusetts Private Passenger Automobile Statistical Plan Part VI - Coding Section STATISTICAL CLASS CODE ASSIGNMENT Statistical Class assignments should be based on the characteristics of the individual used to rate the vehicle. For single vehicle policies, the statistical class must

More information

DOING BUSINESS IN AZERBAIJAN

DOING BUSINESS IN AZERBAIJAN DOING BUSINESS IN AZERBAIJAN CONTENTS 1 Introduction 3 2 Business environment 4 3 Foreign Investment 6 4 Setting up a Business 7 5 Labour 8 6 Taxation 9 7 Accounting & reporting 11 8 UHY Representation

More information

CRISIS EFECTS UPON THE INSURANCE INDUSTRY

CRISIS EFECTS UPON THE INSURANCE INDUSTRY CRISIS EFECTS UPON THE INSURANCE INDUSTRY CRISTINA MIHAELA NAGY WEST UNIVERSITY OF TIMISOARA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, 16 J.H.PESTALOZZI STREET, TIMISOARA. 300115 cristinanagy2009@yahoo.com

More information

Finansinspektionen s Regulatory Code

Finansinspektionen s Regulatory Code Finansinspektionen s Regulatory Code This translation is furnished for information purposes only and is not itself a legal document. Finansinspektionen s Regulations and General Guidelines governing standard

More information

INSURANCE SECTOR IN SERBIA

INSURANCE SECTOR IN SERBIA INSURANCE SUPERVISION DEPARTMENT INSURANCE SECTOR IN SERBIA Third Quarter Report 2012 November, 2012 National Bank of Serbia Contents: 1. Insurance market...3 1.1 Market participants...3 Insurance companies...3

More information

REGULATORY BOTTLENECKS/BARRIERS TO TRADE IN INSURANCE SERVICES THE ZAMBIAN EXPERIENCE

REGULATORY BOTTLENECKS/BARRIERS TO TRADE IN INSURANCE SERVICES THE ZAMBIAN EXPERIENCE REGULATORY BOTTLENECKS/BARRIERS TO TRADE IN INSURANCE SERVICES THE ZAMBIAN EXPERIENCE OUTLINE OF THE PRESENTATION Introduction The Zambian Insurance Market Regulatory Bottleneck/Barriers to Trade in Insurance

More information

REINSURANCE IN THAILAND by Potjanee Thanavaranit Deputy Director-General, Department of Insurance Ministry of Commerce, Thailand

REINSURANCE IN THAILAND by Potjanee Thanavaranit Deputy Director-General, Department of Insurance Ministry of Commerce, Thailand REINSURANCE IN THAILAND by Potjanee Thanavaranit Deputy Director-General, Department of Insurance Ministry of Commerce, Thailand I. Structure of the insurance industry A. Number of companies Since 1982,

More information

IS IT WORTHWHILE TO INVEST IN TRAFFIC SAFETY EFFORTS? Matti Järvinen Liikenneturva Finland

IS IT WORTHWHILE TO INVEST IN TRAFFIC SAFETY EFFORTS? Matti Järvinen Liikenneturva Finland IS IT WORTHWHILE TO INVEST IN TRAFFIC SAFETY EFFORTS? Matti Järvinen Liikenneturva Finland 1 Facts of Finland 5.3 million people 4.5 million vehicles, 3.4 million driving licenses, 400.000 km roads 378

More information

THE CROATIAN FINANCIAL SERVICES SUPERVISORY AGENCY

THE CROATIAN FINANCIAL SERVICES SUPERVISORY AGENCY THE CROATIAN FINANCIAL SERVICES SUPERVISORY AGENCY Pursuant to Article 263 item 1 of the Insurance Act (Official Gazette 151/05, 87/08, 82/09), the Croatian Financial Services Supervisory Agency at its

More information

The Chinese non-life insurance market Are you ready to face the challenge?

The Chinese non-life insurance market Are you ready to face the challenge? The Chinese non-life insurance market Are you ready to face the challenge? White Paper The Chinese non-life insurance market In this White Paper Executive summary...3 The Chinese non-life insurance market...4

More information

Workshop Possible solutions for development of multi-level pension system in the Republic of Azerbaijan

Workshop Possible solutions for development of multi-level pension system in the Republic of Azerbaijan Twinning Project AZ/13/ENP/SO/24 Support to the State Social Protection Fund on the introduction of funded element within the insurance-pension system, establishment of non-state pension funds and development

More information

2.1. Number of Insurance Companies in Poland, 2001-2009 2.2. Headcount in Poland Insurance Sector, 2001-2009

2.1. Number of Insurance Companies in Poland, 2001-2009 2.2. Headcount in Poland Insurance Sector, 2001-2009 TABLE OF CONTENTS 1. Poland Insurance Market Introduction 2. Poland Insurance Market Structure 2.1. Number of Insurance Companies in Poland, 2001-2.2. Headcount in Poland Insurance Sector, 2001-3. Poland

More information

Attitudes and decisions of the motor insurance buyers in Poland 1

Attitudes and decisions of the motor insurance buyers in Poland 1 Peer-reviewed and Open access journal ISSN: 1804-1205 www.academicpublishingplatforms.com BEH - Business and Economic Horizons Volume 8 Issue 2 December 2012 pp. 23-32 Attitudes and decisions of the motor

More information

Governance, Risk and Compliance - The Vietnamese Insurance Industry

Governance, Risk and Compliance - The Vietnamese Insurance Industry Brochure More information from http://www.researchandmarkets.com/reports/3404649/ Governance, Risk and Compliance - The Vietnamese Insurance Industry Description: The 'Governance, Risk and Compliance -

More information

Capital Markets, Savings Division Annual Report 2011. Insurance

Capital Markets, Savings Division Annual Report 2011. Insurance Capital Markets, Insurance and Savings Division Annual Report 2011 Insurance Table of Contents 4.1 Non-life Insurance 76 4.1.1 Introduction 76 4.1.2 Insurance Premiums 77 4.1.3 Concentration Indices and

More information

Motor Insurance in Europe

Motor Insurance in Europe Brochure More information from http://www.researchandmarkets.com/reports/361995/ Motor Insurance in Europe Description: Summary Motor Insurance in Europe industry profile provides top-line qualitative

More information

The insurance market in Russia

The insurance market in Russia The insurance market in Russia Vladimir Kalinin MAPFRE RE s Commercial Adviser for Russia and the countries of the CIS Moscow Russia 16 / 61 / 2012 Among the markets of the emerging countries, the Russian

More information

Thailand Insurance Sector

Thailand Insurance Sector Brochure More information from http://www.researchandmarkets.com/reports/606283/ Thailand Insurance Sector Description: Thailand is the 2nd largest economy in Southeast Asia, after Indonesia. It ranks

More information

ROMANIAN INSURANCE MARKET- BENEFITS AND COSTS AFTER EU ACCESSION

ROMANIAN INSURANCE MARKET- BENEFITS AND COSTS AFTER EU ACCESSION ROMANIAN INSURANCE MARKET- BENEFITS AND COSTS AFTER EU ACCESSION Prof. Dumitru G. Badea, PhD dgbadea@iasig.ro, 0744332664 The Bucharest Academy of Economic Studies The Romanian insurance market relaunched

More information

Oman United Insurance Co. SAOG: Company Profile and SWOT Analysis

Oman United Insurance Co. SAOG: Company Profile and SWOT Analysis Brochure More information from http://www.researchandmarkets.com/reports/2077770/ Oman United Insurance Co. SAOG: Company Profile and SWOT Analysis Description: Synopsis World Market Intelligence's 'Oman

More information

MEXICAN INSURANCE MARKET VIEW

MEXICAN INSURANCE MARKET VIEW MEXICAN INSURANCE MARKET VIEW MEXICO S MACROECONOMICAL ENVIRONMENT Mexico was ranked 28th of 139 countries in terms of macroeconomic environment, according to WEF s Global Competitiveness Report 2010-2011.

More information

Number of insurances, policyholders and premiums by type of insurance and tariff in Serbia in 2004

Number of insurances, policyholders and premiums by type of insurance and tariff in Serbia in 2004 of s, policyholders and premiums by type of and tariff in Serbia in 2004 1 ACCIDENT INSURANCE 01.01. Insurance of persons against consequences of accidents 41.975 1.513.002 1.146.474 112.945 126.256 808.656

More information

THAILAND INSURANCE IN 2013

THAILAND INSURANCE IN 2013 THAILAND INSURANCE IN 2013 July 2014 thaire.co.th Thailand Economic Prospects Despite a contraction of 0.6% in the first quarter of 2014, the pace of growth is expected to gradually pick up in the second

More information

INSURANCE MARKET DEVELOPMENT

INSURANCE MARKET DEVELOPMENT INSURANCE MARKET DEVELOPMENT GENERAL INFORMATION Market participants At end-2009, there were 14 insurance companies operating in Latvia whereof four companies were engaged in life insurance and 10 companies

More information

Export control system and Dual-Use Expertise in the Republic of Azerbaijan

Export control system and Dual-Use Expertise in the Republic of Azerbaijan Export control system and Dual-Use Expertise in the Republic of Azerbaijan Deputy Director of the Institute of Radiation Problems of Azerbaijan National Academy of Sciences Dr. Ibrahim Gabulov Azerbaijan

More information

CREDIT POINT SYSTEM OF EXAMINATION REVISED CREDIT POINT SYSTEM (CPS) HAS BEEN INTRODUCED FROM JANUARY-2016 ONWARDS.

CREDIT POINT SYSTEM OF EXAMINATION REVISED CREDIT POINT SYSTEM (CPS) HAS BEEN INTRODUCED FROM JANUARY-2016 ONWARDS. CREDIT POINT SYSTEM OF EXAMINATION REVISED CREDIT POINT SYSTEM (CPS) HAS BEEN INTRODUCED FROM JANUARY-2016 ONWARDS. 1. Each subject of study is assigned credit points as given in Annexure. The credit points

More information

Conditions for Development of the Private Health Insurance in Poland. Lukasz Jasinski. Maria Curie Skłodowska University, Lublin, Poland

Conditions for Development of the Private Health Insurance in Poland. Lukasz Jasinski. Maria Curie Skłodowska University, Lublin, Poland Journal of US-China Public Administration, February 2015, Vol. 12, No. 2, 153-165 doi: 10.17265/1548-6591/2015.02.008 D DAVID PUBLISHING Conditions for Development of the Private Health Insurance in Poland

More information

Analysis of Chinese Motor Insurance

Analysis of Chinese Motor Insurance Analysis of Chinese Motor Insurance Comparative Study of Third Party Liability Insurance systems Topic: others Yao Ray Renmin University of China Room 629, Pinyuan 5 Building, No.59, Zhongguancun Street,

More information

Insurance Association of Turkey & Turkish Insurance Market. 18 April 2016

Insurance Association of Turkey & Turkish Insurance Market. 18 April 2016 Insurance Association of Turkey & Turkish Insurance Market 18 April 2016 1 Turkish Insurance Market: An Overview 2 Number of Insurance Companies As of today; 37Non Life 1 Reinsurance 19 Life and Pension

More information

EFFICIENCY OF THE TRANSITION OF INSURANCE MARKETS IN SOUTH-EASTERN EUROPEAN POST-COMMUNIST COUNTRIES

EFFICIENCY OF THE TRANSITION OF INSURANCE MARKETS IN SOUTH-EASTERN EUROPEAN POST-COMMUNIST COUNTRIES South-Eastern Europe Journal of Economics EFFICIENCY OF THE TRANSITION OF INSURANCE MARKETS IN SOUTH-EASTERN EUROPEAN POST-COMMUNIST COUNTRIES SAFET KOZAREVIĆ a*, LAURA PERESSIN b, GIORGIO VALENTINUZ c

More information

EIOPA Risk Dashboard September 2015 Q2 2015 data PUBLIC. EIOPA-FS-15/651 Frankfurt, 16th September 2015

EIOPA Risk Dashboard September 2015 Q2 2015 data PUBLIC. EIOPA-FS-15/651 Frankfurt, 16th September 2015 EIOPA Risk Dashboard September 2015 Q2 2015 data PUBLIC EIOPA-FS-15/651 Frankfurt, 16th September 2015 Summary The release of this EIOPA Risk Dashboard is based on 2015- Q2 indicators submitted on a best

More information

Mexican Insurance Market: developments and new regulations

Mexican Insurance Market: developments and new regulations Mexican Insurance Market: developments and new regulations National Association of Insurance Commissioners Summer National Meeting Philadelphia, PA June 11, 2002 Mexican Insurance Market: developments

More information

THE MARKET POTENTIAL IN MONGOLIAN INSURANCE SECTOR

THE MARKET POTENTIAL IN MONGOLIAN INSURANCE SECTOR THE MARKET POTENTIAL IN MONGOLIAN INSURANCE SECTOR Ulaanbaatar city 2014.04.17 BATJARGAL JAMSRAN Executive director Mongolian Insurers Association CONTENT MARKET POTENTIAL IN MONGOLIAN INSURANCE INDUSTRY

More information

Selection of an operation for post-evaluation by EvD uses the following criteria:

Selection of an operation for post-evaluation by EvD uses the following criteria: PREFACE The subject of this Operation Performance Evaluation Review (OPER) is the technical cooperation (TC) operation Azerbaijan-MBASK Insurance Company. The operation totalled 375,324, which was funded

More information

Who are we? ASIROM is:

Who are we? ASIROM is: Who are we? ASIROM is: The company that offers viable solutions to its clients, permanently adapting its products and tariffs to market trends and both clients and potential clients needs, at the same

More information

UNDERSECRETARIAT OF TREASURY DIRECTORATE GENERAL OF INSURANCE

UNDERSECRETARIAT OF TREASURY DIRECTORATE GENERAL OF INSURANCE UNDERSECRETARIAT OF TREASURY DIRECTORATE GENERAL OF INSURANCE Dr. Ahmet GENÇ Acting Deputy Director General INSURANCE IN TURKEY CAN BE EVALUATED UNDER 5 HEADINGS I. LEGAL FRAMEWORK II. GENERAL OVERLOOK

More information

SETTLEMENT EXPERIENCE AUTO INSURANCE CLAIMS

SETTLEMENT EXPERIENCE AUTO INSURANCE CLAIMS ENHANCING YOUR CLAIMS SETTLEMENT EXPERIENCE AUTO INSURANCE CLAIMS Enhancing Your Claims Settlement Experience Auto INSURANCE CLAIMS Your vehicle is an integral part of your life. Our aim is to make the

More information

Insurance Market Outlook

Insurance Market Outlook Munich Re Economic Research May 2014 Premium growth is again slowly gathering momentum After a rather restrained 2013 (according to partly preliminary data), we expect growth in global primary insurance

More information

Personal Accident and Health Insurance in Malaysia, Key Trends and Opportunities to 2016

Personal Accident and Health Insurance in Malaysia, Key Trends and Opportunities to 2016 Personal Accident and Health Insurance in Malaysia, Key Trends and Opportunities to 2016 Market Intelligence Report Reference code: IS0055MR Published: September 2012 www.timetric.com Timetric John Carpenter

More information

The Danish Insurance Association Gross claims of Danish companies by class of insurance, domestic and international business, 2013

The Danish Insurance Association Gross claims of Danish companies by class of insurance, domestic and international business, 2013 of Danish companies by class of insurance, domestic and international business, 2013 Of which foreign business Industrial injuries insurance 3.068 1.797 603 73 Buildings insurance 5.295 5.059 1.319 543

More information

Data on selected insurance markets

Data on selected insurance markets Data on selected insurance markets Economic Research Munich, March 205 Germany CAGR* 2004 204: 2.6% CAGR* 2004 204:.% Macroeconomics & wealth, 204 Asset classes as % of gross financial assets, 204 82.7mn

More information

Jean Van der hasselt CEO Russia and the Nordics

Jean Van der hasselt CEO Russia and the Nordics Jean Van der hasselt CEO Russia and the Nordics Market Overview Russia Population 140.4 million Language(s) Russian Currency Ruble Capital City Moscow GDP US$1.465 trillion Source: IMF Russia is the largest

More information

2. The UK Life and Non-Life Insurance Market Size by Value, 2001-2015

2. The UK Life and Non-Life Insurance Market Size by Value, 2001-2015 TABLE OF CONTENTS 1. The UK Insurance Market Introduction 2. The UK Life and Non-Life Insurance Market Size by Value, 2001-3. The UK Life and Non-Life Insurance Density, Premium Per Capita, USD, 2001-4.

More information

INSURANCE VIETNAM 22 DECEMBER 2014

INSURANCE VIETNAM 22 DECEMBER 2014 client alert INSURANCE VIETNAM 22 DECEMBER 2014 OVERVIEW OF INSURANCE REGULATIONS The Vietnamese insurance market is one of the most dynamic in South East Asia and by many different measures is seen to

More information

Thailand: Analysis of the General Insurance Industry

Thailand: Analysis of the General Insurance Industry Brochure More information from http://www.researchandmarkets.com/reports/1958129/ Thailand: Analysis of the General Insurance Industry Description: Despite the political unrest in May 2010 that affected

More information

1. Findings from the OFT Report on the UK market as a whole

1. Findings from the OFT Report on the UK market as a whole Briefing on Legal and Justice issues relating to the Cost of Car Insurance February 2012 1 Background The Consumer Council has continued its campaign to lower the cost of car insurance in Northern Ireland

More information

The T1 Consortium SPC

The T1 Consortium SPC Sofia - Bulgaria March 2013 Table of Contents I. Background of the Balkan Horse Park Development II. Overview of the Balkan Horse Park Development III.Horse Racing Industry & the Expected Economic Impact

More information

Focus on China Market and Pursue Sustainable Value Growth

Focus on China Market and Pursue Sustainable Value Growth Focus on China Market and Pursue Sustainable Value Growth (Beginning) Distinguished guests, ladies and gentlemen: Good morning. I 'm Wu Zongmin, from China Pacific Property Insurance Company Limited (CPIC

More information

CITIZENS' LABOR RIGHTS PROTECTION LEAGUE N.Narimanov street, 11 \ 16, Baku AZ1006, Azerbaijan

CITIZENS' LABOR RIGHTS PROTECTION LEAGUE N.Narimanov street, 11 \ 16, Baku AZ1006, Azerbaijan CITIZENS' LABOR RIGHTS PROTECTION LEAGUE N.Narimanov street, 11 \ 16, Baku AZ1006, Azerbaijan INTERNATIONAL COVENANT ON ECONOMIC, SOCIAL AND CULTURAL RIGHTS ANNEX TO THE ALTERNATIVE REPORT SUBMITTED BY

More information

Bancassurance in Russia: Life, Non-Life and Creditor Insurance

Bancassurance in Russia: Life, Non-Life and Creditor Insurance Brochure More information from http://www.researchandmarkets.com/reports/1999304/ Bancassurance in Russia: Life, Non-Life and Creditor Insurance Description: Bancassurance in Russia: Life, Non-Life and

More information

Non-Life Insurance 1645645 2400.000 13500000 3435800 78789.77 7897.078 234.234 6867 56764 5666 4554.784 455.345 90787865 896545

Non-Life Insurance 1645645 2400.000 13500000 3435800 78789.77 7897.078 234.234 6867 56764 5666 4554.784 455.345 90787865 896545 1645645 2400.000 13500000 3435800 78789.77 7897.078 234.234 6867 56764 5666 4554.784 455.345 90787865 896545 456664 6262.65 336 679976 56437 13412.44 Ministry of Finance The Capital Market, Insurance &

More information

ROMANIAN COMPULSORY MOTOR THIRD PARTY LIABILITY INSURANCE IN 2010 AND THE PREDICTABLE FUTURE

ROMANIAN COMPULSORY MOTOR THIRD PARTY LIABILITY INSURANCE IN 2010 AND THE PREDICTABLE FUTURE ROMANIAN COMPULSORY MOTOR THIRD PARTY LIABILITY INSURANCE IN 2010 AND THE PREDICTABLE FUTURE Marius Dan Gavriletea 1 Aura Carmen Moga 2 ABSTRACT: Insurance coverage is mandatory for the motor s owners.

More information

Dushanbe Business Forum. 18 May 2013

Dushanbe Business Forum. 18 May 2013 Dushanbe Business Forum 18 May 2013 Country Overview: Republic of Kazakhstan Socio-Economic Indicators, 2012 estimates Population (Mln) 17.74 (April 2013 est.) Total area (sq. km) 2,724,900 Kazakhstan

More information

The Insurance Industry in British Virgin Islands, Key Trends and Opportunities to 2017

The Insurance Industry in British Virgin Islands, Key Trends and Opportunities to 2017 The Insurance Industry in British Virgin Islands, Key Trends and Opportunities to 2017 Market Intelligence Report Reference code: IS0259MR Published: April 2013 www.timetric.com Timetric John Carpenter

More information

EXECUTIVE OVERVIEW. Brought to you by. The benefits are:

EXECUTIVE OVERVIEW. Brought to you by. The benefits are: the case for self funding in motor fleet insurance Brought to you by EXECUTIVE OVERVIEW The benefits are: This brief report outlines the case for businesses with motor fleets to self fund own damage costs

More information

DEMOGRAPHICS AND MACROECONOMICS

DEMOGRAPHICS AND MACROECONOMICS 1 MALTA DEMOGRAPHICS AND MACROECONOMICS Nominal GDP (millions Maltese Lira) 5,634 GDP per capita (USD) 20,254 Population (thousands) 407 Labour force (thousands) 171 Employment rate 93.94 Population over

More information

The attractions of Spain as an insurance market

The attractions of Spain as an insurance market The attractions of Spain as an insurance market Domingo Sugranyes, Executive Vice Chairman and CEO Goldman Sachs European Financials Conference Navigating the Sea of Change Puerto Banus, Spain, 8 June

More information

Consultation Paper 1.5. Mandatory Third Party Liability Insurance for Road Vehicles

Consultation Paper 1.5. Mandatory Third Party Liability Insurance for Road Vehicles Consultation Paper 1.5 Mandatory Third Party Liability Insurance for Road Vehicles Executive Summary There are invariably two or more parties involved in any road accident - the vehicle at fault (offending

More information

Bulletin of the Ministry of Finance of the Republic of Macedonia REPUBLIC OF MACEDONIA MINISTRY OF FINANCE. Bulletin. April 2016.

Bulletin of the Ministry of Finance of the Republic of Macedonia REPUBLIC OF MACEDONIA MINISTRY OF FINANCE. Bulletin. April 2016. Bulletin of the Ministry of Finance of the Republic of Macedonia REPUBLIC OF MACEDONIA MACEDONI A MINISTRY OF FINANCE Bulletin April 2016 Skopje, Skopje, 2016 201 6 Bulletin of the Ministry of Finance

More information

BELGIUM TERRORISM RISK INSURANCE PROGRAMME

BELGIUM TERRORISM RISK INSURANCE PROGRAMME BELGIUM TERRORISM RISK INSURANCE PROGRAMME Name of programme TRIP (Terrorism Reinsurance and Insurance Pool) and the Terrorism Act Date of establishment The Terrorism Reinsurance and Insurance Pool was

More information

Deregulation and Liberalization in Japanese General Insurance Market

Deregulation and Liberalization in Japanese General Insurance Market Deregulation and Liberalization in Japanese General Insurance Market 29 th October 2004 Takeshi Oiwa SOMPO JAPAN INSURANCE INC. INDEX 1. Features of Japanese General Insurance Market. P.1-4 2. Development

More information

2. Italy Life and Non-Life Insurance Market Size by Value, 2001-2015

2. Italy Life and Non-Life Insurance Market Size by Value, 2001-2015 TABLE OF CONTENTS 1. Italy Insurance Market Introduction 2. Italy Life and Non-Life Insurance Market Size by Value, 2001-2015 3. Italy Life and Non-Life Insurance Density, Premium Per Capita, USD, 2001-2015

More information