ROMANIA, 1H2012: Insurance market, close to EUR 1 billion

6 September 2012 —
romania-statisticsRomanian insurance companies underwrote about EUR 1 billion during the first half of the current year. Dominated by motor insurance and taking into account of the falling exchange rate of the national currency as reported to euro the Romanian market might reach a total amount of EUR 1.8 billion by the end of the current year.

During the first half of 2012, the Romanian insurers underwrote almost EUR 945 million, according to estimates made by insuranceprofile.ro using data provided by the companies. Thus, in the mentioned period, the insurance market decreased by 1.5% in European currency. The estimated evolution in European currency was calculated using the medium exchange rates communicated by the National Romanian Bank in the analyzed time periods.

In national currency, the total market is estimated to RON 4.15 billion, this meaning a real increase of over 1.7% in RON. General insurance increased by almost 3% in national currency, representing around 80% of the market, while life insurance decreased by 3% in RON, the value of underwritings on this segment reaching RON 825 million (EUR 188 million).

Keeping this growth rhythm and with a medium exchange rate estimated to 4.5 RON/EUR for 2012, the insurance market could close this year with underwritings of around EUR 1.8 billion.

The first 10 companies on the Romanian insurance market underwrote gross written premiums of almost EUR 770 million and registered a decrease of almost 3% in European currency. Only 4 companies out of these 10 registered a growth in EUR: GROUPAMA Asigurari +1.3%, EUROINS Romania +86.5%, UNIQA Asigurari +4.9% and CITY Insurance +243%. According to estimates made by insuranceprofile.ro, the new leader of the Romanian insurance market for the analyzed period is OMNIASIG VIG.

Access www.xprimm.com and download the 1H2012 Romanian insurance market statistics.

Market indicators (in EUR and RON):
  • GWP
  • Claims 
  • Growth rates
  • Portfolio
Market rankings (in EUR and RON):
  • All insurance market
  • Life insurance 
  • Non-life 
  • Motor hull
  • MTPL
  • Fire & allied perils
  • Damages to property
  • Health
  • GTPL

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