October 2010

Spotlight – In international business, almost every market around the world does things in a different way. This often leads to misunderstandings and unfulfilled expectations. However, different does not need to mean difficult and knowledge of the needs and characteristics of specific geographic markets is an advantage to those who are active in the global economy. These articles help you understand different aspects of the insurance industry around the world, enabling those who do business there to feel more “at home, abroad.”


We are starting to hear that the financial turmoil caused by the credit crunch has passed its worst and that the measures planned and now being taken to redress the situation are showing signs that they are working. Whilst big organisations are still making bumper profits, some countries are really feeling the pinch, however. For some of the countries who joined the European Union during the past couple of rounds of accession, the effects of the recession plus the stringent steps they took to comply with accession rules have made it doubly tough.


We are very lucky to have received a clear and insightful overview of how Romania is coping. The attached article was written by Daniela Ghetu, editorial director, PRIMM Publications – Insurance & Pension and we are indebted to her for allowing us to reproduce this. For more information, please contact her at daniela.ghetu@mxp.ro or go to the website www.xprimm.ro


Click here for the article