N O V E M B E R B U S I N E S S M E E T I N G S O F R E I N S U R E R S I N M O S C O W
In 2005 the Moscow Meetings gathered the record number of participants:
192 representatives of 107 companies, including 55 companies from Moscow, 11 companies represented other regions of Russia and 43 foreign companies from 17 countries of the world.
Popularity of the Meetings: information for comparison:
2002 - 61 delegates from 40 companies
2003 - 102 delegates from 52 companies
2004 - 129 delegates from 79 companies
In addition to the Russians, the Meetings of 2005 were attended by reinsurers from Kazakhstan, Azerbaijan, Poland, Armenia, Ukraine, Moldova, Great Britain, France, Belarus, Czech Republic, Latvia, Korea and Switzerland; representatives from Germany, Slovenia, Bahrain, Bulgaria and Estonia participated for the first time.
The November Meetings in Moscow traditionally continue international meetings of reinsurers held annually, in particular the Monte Carlo meetings held in September and Baden-Baden meetings in October. Those participants who have received coverage in the international market are in a position to offer it to other Russian participants. Besides, the Russian reinsurance market is an alternative to the "tough" western market because over the past years Russian players have not sustained such losses as their western counterparts. This alternative can be used by cedent companies in Russia's near abroad. That is why the organisers of the November Meetings see their main purpose in a maximum possible use of the potential of the Russian reinsurance market.
Traditionally, during the November Moscow Meetings a small plenary meeting was held so that its participants could exchange views on the development of the Russian and world reinsurance business and present their companies and products. After that, delegates engaged in bilateral negotiations.
On November 23, all participants in the Meetings were invited to the Beaujolais Nouveau Festival traditionally organised by the Moscow office of SCOR.
Based on the agreement between Moscow Representative Office of SCOR and Organizers of the Meetings, the "Beaujolais Nouveau" Festival became the traditional cocktail party for the Opening Ceremony of November Business Meetings of Reinsurers starting from 2005.
The festival held by SCOR in many countries of the world has a special meaning for reinsurers. It celebrates a new harvest coinciding with the summing up of the results of a year before reinsurance contracts are renewed.