ROMANIA: Brokerage market profit drops by 7% in 2011, down to RON 141 million

In 2011, the insurance brokerage market registered a profit of RON 141,1 million (about EUR 33 million). This marker has decreased by 6,9% compared to the previous year, according to the Romanian Insurance Supervisory Commission Annual Report for 2011.

Also, according to the supervisory authority, from a total of 493 profile companies that sent their financial situation, 353 reported profit, while 140 registered losses of over RON 13,5 million.

Thus, the consolidated result of the "profit and loss account" added up to RON 127,6 million on December 31st 2011, RON 2,8 million less than the end of 2010.

The added profit of the first 10 insurance brokers represented 70,5% of the total market earnings, while the number for the first 20 societies is closing in on 80%.

The biggest profit was registered by PORCHE Broker with RON 28,5 million (20,2% of the total), followed by UNICREDIT Insurance Broker with RON 27,6 million earnings (19,6% of the total) and RCI Broker with RON 10,8 million - the equivalent of a 7,6% share.

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