REZULTATE PRELIMINARE 3T 2004
There are just a few days left before 2004 ends. Although we shall have wait three more month before knowing the 2004 results, some conclusions can be already deduced.
Like an athlete coming to the scratch, the Romanian insurance market took a deep breathe, preparing itself for the big accession challenge: new amendments to the Insurance Law, new accounting regulations, more detailed regulations regarding some specific lines of business.
Beside the legal harmonization effort, the insurance companies got through an sustained effort to the point to be competitive in an European manner: innovative products, better services, larger territorial networks, better trained people. Necesary but not sufficient, all these improvements have to be accompanied by an intrepid management stile, better underwriting, the portfolio reconfiguration and many others. Of course, not for all the companies the future is bright, but for most of them, a good throw-off was already done.
The following pages are a prologue to the 2004 end. As it regards the final result, it is up to
you to make your own prediction. Our next issue will validate it or not.