Premiums underwritten by the 22 members of the National Union of Insurance and Reinsurance Companies in Romania (UNSAR) fell about 5% in the first nine months of 2011, to RON 4.9 billion lei (EUR 1.2 billion). The share of Union's member companies in total underwritings of the insurance market is about 82%.

The main market driver was the life segment, the sector maintaining the ascending trend showed in the previous months. In 3Q2011, UNSAR member companies reported underwritings of RON 1.1 billion on life, y-o-y up by 8% in nominal terms.

At the same time, non-life insurance fell by 8.2% compared to January-September 2010, the lines that have dictated this trend being MTPL, with a decline of 16.5%, and Motor Hull insurance, with a minus of 24%. In contrast, the largest increase, of 91%, was reported on the voluntary households insurances. Thus, the number of active policies registered a higher than twofold growth, from about 2 million policies at the end of September 2010, to 4.5 million as at September, 30th, 2011.

The amount of gross claims paid by insurers for non-life insurance contracts was of RON 2.6 billion, respectively RON 84 million for life insurance.

More news and statistics about Romanian insurance market.