The Insurer: #1 (31) Winter 2010-2011

p.23

In early February, Andreas Treichl, chairman of Erste Bank, voiced his disappointment with operating conditions in Western Europe and particularly in his home market of Austria. “In this country we pay the highest bank taxes. We as banks have a very strong interest in the country risk of our country. If Slovakia were AAA-rated I would kiss Austria goodbye”, the senior executive stated to The Financial Times. In 15-20 years, nobody interested in the Czech market will work via Western Europe, he opined. While such deep trust in the banking industry of Central Europe may be a matter of the next couple of decades, the regional insurance industry seems to basically have reached the Western European standards, as its nine-month results demonstrate.

 

INSURANCE

 

10 Growth In Stock

Erste advises to invest in CEE-based insurers

 

22 Two Easts

How CEE fared better than Asia and why it’s unlikely to happen again

 

 

23 In Higher League

9M results of five leading CEE markets

 

 

38 Bids For Kids

Member of Triglav’s board on the group’s international plans

40 Dealing With Optimists

CEO of Marsh CEE/CIS on changes in regional risk management practices

 

46 The Market That Played With Fire

A decade in the life of Russian industry

 

50 The Real Slim Shady

Figures and troubles of Russian market

52 Curtain Up

Russia finally has its own life insurance association

 

56 Picture Of Health

Russian employers unwilling to cover healthcare costs

 

58 Shooting Stars

Why key Russian life CEOs leave their companies

 

 

62 Forget It

Sochi Insurance Pool dismantled

 

 

REINSURANCE

14 Miracle On Ice

Renewal trends in Russia, the CIS and Eastern Europe

20 Call Of Nature

Eastern Europe battles higher nat cat frequency

 

 

NEW MARKETS` HERALD

64 Defrosted

Better late than never: Ukraine shows first signs of recovery