ROMANIA, 1H2012: Brokers have withstood the crisis

6 September 2012 — Vlad BOLDIJAR
start2In the first six months of 2012, the cumulated business of the brokerage companies operating on the Romanian market totaled more than EUR 375 million, registering a 10% increase in European currency compared to last year's same period. In national currency, brokers have achieved a mediated premiums' volume of approximately RON 1.65 billion, up 12.7% compared to the total of the market in June 2011. Despite adverse economic conditions and declining business recorded by a significant number of insurers, the brokerage market share in the total insurance market was close to 40%.

On insurance classes, life insurance generated 3.9% (equivalent to EUR 14.5 million) of the total mediated premiums, 16% less compared with January-June 2011. On the other hand, the general insurance line saw an increase of 11%, with mediated premiums of EUR 361 million. Despite the crash of the motor and financial leasing markets, motor insurance represented the "cornerstone" of the insurance brokerage market, as it generated more than 73% of the total business of insurance brokers.

Other business lines that have had significant contributions to the business of insurance brokers included: property - 12% (EUR 45 million), GTPL - 3.2% (EUR 12 million) and credits and guarantees - EUR 13.8 million mediated premiums, equivalent to 3.8 percentage points of the total insurance mediation market.

The hierarchy of the brokerage companies, based on financial data provided by 80 companies to INSURANCE Profile Review (62% of the total market), realized on the criterion of mediated premiums' volume, was not modified compared to 1Q 2012 - the top three companies (MARSH Romania, PORSCHE Broker and UNICREDIT Insurance Broker) bringing the most important contribution: 17% of the total profile market. Top 5 was completed by SAFETY Broker and DESTINE Broker.

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