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1Q 2014 PRELIMINARY RESULTS

1Q 2014 PRELIMINARY RESULTS

Market issues!

We end the first quarter almost crazy for the insurance industry!

Hardly predictable things, drawn like a movie script affects local industry. And when we feel that everything begins to clarify, suddenly … there is a new episode from the series!

Three companies in the market are involved in authorities’ investigations in various forms. The three cumulative shares of almost 30% of the local market… and their situation in the next period is hardly predictable in terms of the impact on financial results.

A fourth company in the life segment has downgraded by EUR 40 million results 2012. Legitimate question arises: what are the real figures of the industry?

Such questions need to quickly find the answer because; ultimately unanswered questions and problems without solutions … are the main sources of mistrust.

Mistrust is a luxury not affordable in insurance.

At market level an honest decrease is always better than a false increase discovered over the years.

Alex ROŞCA

 

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