
"The slight increase of the insurance market which began in 2012 can only be maintained on a long term by consolidating both the risk management policies and those regarding the insurers' protection. The local and international macro-economic conditions will continue to put pressure on the insurance industry, which will have to identify new protection solutions against continually changing risks", Constantin BUZOIANU, President of ISC, stated.
At the end of the first semester, on the non-life segment, three insurance lines represented 79.6% of the market: Motor Hull, MTPL and fire and other perils insurance.
At the end of June, Motor Hull insurance represented 28.49% of the non-life market, with a premium volume of approximately RON 933 million, slowing down 6.37% compared to the first semester last year.
MTPL insurance represented 34.5% of the non-life portfolio, with underwritings of over RON 1.1 billion, decreasing with only 0.19% compared to first half of 2011.
The fire and allied perils insurance represented 16.63% of the non-life insurance segment, with a RON 544.6 million volume, decreasing by 10.05% compared to the same period in 2011.
On the other hand, positive evolutions were registered on the following non-life insurance lines:
- health insurance - RON 24.7 million in underwritings, increasing by 118.69% compared to first semester last year;
- general third party liability - underwritings of approximately RON 267 million, meaning a 180% increase;
- warranties insurance - RON 95.2 million in underwritings, increasing by 132.39%.
Thus, life insurance, annuities and auxiliary life insurance represented 61.47%, the share corresponding to an underwritings volume of almost RON 527 million, increasing by 2.5% compared to the first semester of 2011. At the same time, unit-linked insurance represented 34.53% of the life insurance segment, the underwritings volume registering an 8.13% decrease compared to the same period last year.
The volume of paid claims reached over RON 2.5 billion in the first half of 2012, registering a nominal increase of 3.07% compared to the same period last year. From the total volume of paid indemnities, those corresponding to non-life insurance contracts reached RON 2.18 billion, increasing by 2.75% compared to the same period last year. The paid sums for gross indemnities, maturities and surrenders corresponding to life insurance totalized RON 356.9 million, increasing by 5.04% compared to January-June 2011.
15% growth for brokers. The mediation market reached almost 40% of total underwritings
On the insurance mediation market, the premiums value exceeded RON 1.6 billion, increasing by 14.96% compared to January-June 2011 (RON 1.4 billion). The income obtained through mediation activity, reported as of June 30 2012, totalized RON 325.7 million, increasing by 9.24% compared to the first semester of 2011 (RON 298.2 million). The numbers gathered by ISC show that between January-June 2012, brokers mediated 39.75% of the total volume of underwritings on the Romanian insurance market.
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