ROMANIA: good dynamic on property and life insurance close to compensate the drop in motor premium

29 November 2011 — Daniela GHETU
The 3Q2011 preliminary results of the Romanian insurance market show a slowdown of the negative trend in underwriting, with a y-o-y GWP nominal change of only -3%, much better as compared to the half year figures which were showing a 14% fall in GWP. All in all, GWP stood at EUR 1,444.48 million.

Life insurance continues to report the best dynamic, with a y-o-y nominal growth rate of 6.4, up to EUR 305 million and almost 65% of underwriting belonging to the annuities and supplementary insurance class.

On the non-life side, the best results continued to be reported for the property classes - fire and allied perils class and damages to property class -, for which the y-o-y growth rate was of over 39% in nominal terms, up to EUR 258.47 million.

Motor insurance lines' slowdown continued, both on the Motor Hull and MTPL side, with an average negative y-o-y nominal change of about 19%. While the Motor Hull class is still suffering from the very weak car sales volume, on the MTPL segment, the highly competitive market determined an average drop of the tariffs of about 24%, according the official statistics.

Although the GTPL line accounts for only 3% of the entire market underwritings, it is still worth mentioning the quite impressive growth rate recorded on this segment, of over 89%. Warranties insurance class also grew by over 84%.

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

Market portfolio (in EUR and RON):
  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings (GWP/Claims/Market shares/Growth rates - in EUR and RON):
  • Life insurance ranking
  • Non-life insurance ranking
  • Motor insurance rankings - Total, Motor Hull & MTPL
  • Property insurance rankings - Total, Fire & allied perils, Damages to property
  • GTPL insurance ranking
  • Health insurance ranking

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