Romania
UNSAR-IRES survey: 2 out of 3 Romanians would pay more for better medical services
Romanians want faster access and higher quality of medical services, according to the latest UNSAR-IRES survey, informed the insurance news portal www.1asig.ro here.
20 July 2021UNSAR-IRES Barometer: Pandemic has increased Romanians' interest in health, housing and life insurance
The COVID-19 pandemic changed Romanians' perception of risks, increasing their interest in insurance protection. The most significant change was observed in health insurance, 4 out of 10 Romanians stating that the pandemic has increased their interest in the matter, according to a UNSAR-IRES Barometer on Risk Perception and Insurance Culture in Romania.
8 July 2021Total assets managed by Romanian private pension funds increased by 33% at the end of March
At the end of March 2021, the Romanian private pension funds (Pillar II and Pillar III) accumulated RON 83.34 billion in total assets, 33% more compared to the previous year, according to the quarterly figures published by ASF. The total assets of the private pension system were 7.9% of the GDP.
6 July 2021118,5% solvency and new insurance products to be launched for Euroins Romania
Euroins Romania Asigurare Reasigurare S.A announces the completion of the financial audit for 2020 and the first results of Q1 2021, which reflects the repositioning of the company, the appointment of a new general manager and the improvement of risk management.
3 June 2021Romania: 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.
3 June 2021COFACE expands its portfolio in Romania and launches surety bonds
Credit insurer COFACE announced in a statement published on its website it expands its portfolio on Romanian insurance market entering surety bonds segment- "a viable alternative to the letter of credit and are dedicated to companies involved in public procurement contracts".
25 May 2021Romania: 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.
20 May 2021Romania: SIGNAL IDUNA acquires part of the ERGO Group and increase the premiums by 50%
The insurance company SIGNAL IDUNA ASIGURARE REASIGURARE announces as of May 20, 2021 the signing of an agreement for the acquisition of the companies ERGO Asigurari de Viata and ERGO Asigurari, part of the ERGO Group. The transaction will be subject to the approval of the Financial Supervisory Authority (ASF) and the Romanian Competition Council.
20 May 2021Romanian insurance market's leader to be sold to global investor I3CP
Romanian largest insurer CITY Insurance announced in a statement that local investment firm Vivendi International has reached an agreement with the Netherlands-based I3CP Holdings to sell its entire majority stake in the insurance company.
7 April 2021STATISTICS: Romanian largest 10 insurers accounted for 90% of total market
GWP of Romanian insurers reached RON 11.50 billion (EUR 2.36 billion), up by 4.64% y-o-y, according to the YE2020 market figures published on the Romanian FSA website. Overall paid claims totaled RON 6.92 billion (EUR 1.42 billion), up by 1.5% y-o-y.
1 April 2021EU branches' business on Romanian market has crossed the threshold of RON 1 billion
The GWP related to the branches of EU insurers active on Romanian insurance market, has crossed last year the threshold of RON 1 billion for the first time, according to the YE2020 figures released last week by Romanian FSA.
31 March 2021Romanian insurance brokerage market expanded by more than half billion RON
Romanian brokerage market totaled RON 7.9 billion (EUR 1.6 billion) last year, more than half billion RON as compared with 2019, according to the most recent statistics published by Romanian FSA.
31 March 2021Romania 2020: 5.4% GWP growth y-o-y and improving combined ratio
GWP by Romanian insurers, including branches of foreign companies operating on FOE, reached RON 12.5 billion (EUR 2.56 billion), up by 5.4% y-o-y (local currency). Insurers domiciled in Romania have provided for about 92% of this total, recording a 4.6% y-o-y growth rate, the market authority said.
25 March 2021French insurer AXA is active on Romanian health insurance market after a partnership with MEDIHELP
MEDIHELP International and AXA Partners, with the support of AXA Global Healthcare - announced an strategic partnership offering to Romanian insureds new private health insurance with international coverage, with a limit of up to EUR 3 million - depending on the chosen plan among five plans - informed www.1asig.ro here.
18 February 2021Generali Romania introduces new services to improve customers' claims experience
Generali Romania further simplifies the compensation processes with the help of new digital tools and dedicated partnerships, in order to shorten the time necessary to solve the claims and thus improve customers' claims experience.
16 February 2021Romanian ASF: The insurance market grew by 5% in 2020, to RON 11.5 billion
In 2020, the gross premiums written by the Romanian insurance companies reached RON 11.5 billion (~EUR 2.3 billion), increasing by approximately 5% compared to the previous year, declared Nicu MARCU, President of ASF - Financial Supervisory Authority cited by Romanian insurance news portal www.1asig.ro.
15 February 2021ASF fined the management of the largest Romanian insurer EUR 780 k
The ASF Board decided to fine the Management Board and the Supervisory Board of the Romanian largest insurer - CITY Insurance with a total RON 3.78 million lei (almost EUR 780 k), because fallowing a control, the insurer failed to submit the requested documents in due time, as the Romanian insurance news portal www.1asig.ro informed.
28 January 2021Romania: introduction of the mandatory direct reimbursement procedure in motor insurance is the hot spot for 2021
Despite the challenging pandemic context, Romanian insurers managed to end 3Q2020 with an overall GWP growth of 4.8%, Cristian ROSU, Vice President for the Insurance - Reinsurance Sector within the market supervising authority (ASF) said on the occasion of the traditional forecast meeting organized by XPRIMM each year.
26 January 2021Romania: health insurance expected to further grow in 2021, especially on the corporate segment
Except for the eventuality of the Covid-19 health crisis worsening, Romanian insurers display a moderate optimism with regard to the market evolution this year, hoping for a 5% to 10% growth throughout the year, top market professionals have revealed yesterday at the market gathering organized by XPRIMM.
26 January 2021Romania: ASF fined the two largest MTPL insurers
Following the control actions conducted by ASF, CITY Insurance and EUROINS Romania - the two insurers accounting for almost 75% of the MTPL insurance portfolio in Romania - were sanctioned by the local insurance market supervisor, www.1asig.ro wrote.
18 January 2021
