Location map
author: OCHA/ ReliefWeb

- Southeastern Europe, bordering the Black Sea;
- Neighbours: Bulgaria, Serbia, Hungary, Ukraine, Moldova.

- temperate climate;
- cold, cloudy winters with frequent snow and fog;
- sunny summers with frequent showers and thunderstorms.

Natural hazards:
- earthquakes, most severe in south and southwest regions;
- geologic structure and climate promote landslides.

Macro indicators
* 2018 estimates
Pop. density*:81.9people/km2
GDP*:202.7EUR billion

European Union:
EU member, since 2007

Currency: Leu
Code: RON
Since: 2005

Insurance market portfolio
* 2018 estimates
Overall Property*:12%
Overall Motor*:57%




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Romania 1H2021 Market Rankings

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Romania 1H2021 Market Portfolio

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Latest news

Ileana DAMIAN to become the new COO in Generali Romania

Ileana DAMIAN has received the Romanian insurance regulator's approval to take over the position of Chief Operations Officer within Generali Romania, as Generali CEE Holding announced in a statement. She is replacing Daniela COVACESCU who resigned from her position. Ileana DAMIAN is becoming a member of the Board as well.

Life insurance, a support for Romanians during the COVID-19 pandemic

Almost two years have passed since the beginning of the COVID-19 pandemic, during which time the Romanian insurance industry has constantly adapted to consumers' needs, in some cases even by extending the coverage existing in the original policy wording.

Third capital increase for Euroins Romania, of over EUR 24 million

Euroins Romania's shareholders approved a new capital increase amounting to over EUR 24 million (RON 120 million), the third in recent months. The most recent audit showed that Euroins Romania exceeded all financial indicators set by law, with the SCR at 118.5% and the coverage of the MCR at 278.4%.

UNSAR: The largest compensation paid in 2020 on a home insurance amounted EUR 400k

The largest compensation paid last year by UNSAR insurers to cover the damages occurred on a voluntary home insurance policy was about EUR 400,000 (RON 1.9 million), 145% higher than in 2019. "It was paid in order to cover the damages caused by a fire", states UNSAR - the National Union of Insurance and Reinsurance Companies in Romania, wrote here.

Kuldeep Kaushik appointed Chief Executive Officer of NN in Romania

NN Group announces that Kuldeep Kaushik will be appointed as CEO of NN in Romania, effective 1 November 2021, subject to regulatory approval and work authorization. Kuldeep takes over from Gerke Witteveen, Chief Financial Officer of NN in Romania, who has held the interim CEO role for the past period.

Romania: Fires caused 66% of the largest paid claims under home insurance

In 2020, insurers member of UNSAR (the National Union of Insurance and Reinsurance Companies in Romania) paid aggregate claims of over RON 11 million (~EUR 2.2 million) for the 50 largest claims related to home insurance - up by 16% compared with from 2019, two thirds of these claims being caused by fires, according to data published by the association, informed here.

Romania: Mihaela Stroia will be the new CEO of UNIQA Life Insurance

Starting with June 2021, Mihaela Stroia takes over the position of CEO - President of the UNIQA Life Insurance Directorate. The next period brings also a series of important changes, which support the transformation and development of the activity of the UNIQA Group at international level, but also locally.

Romania: The Competition Council greenlights GOTHAER take over by ALLIANZ-TIRIAC

The Competition Council of Romania has authorized the transaction through which ALLIANZ-TIRIAC Asigurari takes over the company GOTHAER Asigurari Reasigurari. The Romanian subsidiary of GOTHAER is active since 2012, but in recent months, the German Group has changed its strategic direction to focus on the home market.