Romania
EIG: The prudent approach applied in Romania, influenced the year-end group indicators
Bulgarian financial group EUROHOLD said its revenues from insurance activity at the end of December 2018 amounted to BGN 985.3 million (EUR 503.8 million), 2% less y-o-y. The insurance operating expenses for the period under review increased by 0.6% y-o-y to BGN 924.9 million (EUR 472.9) compared to BGN 919.2 million at the end of 2017.
5 March 2019Bogdan BICHINET to join GENERALI Romania as CFO
Bogdan BICHINET will join the management team of GENERALI Romania as Member of the Board and Chief Financial Officer - CFO starting March 1st, after this week the Board of the Romanian Financial Supervisory Authority (ASF) approved its appointment.
28 February 2019STATISTICS: ROMANIA, 3Q2018: the almost 7% decrease on the MTPL line hardly offset by increasing business on othe non-life classes
Romanian insurers ended the first three quarters of 2018 with GWP worth EUR 1.6 billion, 0.7% up y-o-y, while paid claims have increased by 13.1%, to EUR 918 million. Given the national currency's depreciation against Euro, the results denominated in RON show a better dynamics.
19 December 2018Nine Romanian MTPL insurers fined for violation of the competition regulations; legal action against the sanction will follow
Nine Romanian MTPL insurers and UNSAR, the insurers' association, were fined by the national Competition Council with total fines of approx. EUR 53 million for violation of the national and European competition regulations by coordinating market behavior to increase compulsory MTPL insurance charges.
6 December 2018ROMANIA: Watford Insurance, officially the newest player in local insurance market
WATFORD Insurance Company Europe (WATFORD Insurance) officially launched itself in the Romanian insurance market through an event organized on 17 October in Bucharest, with the participation of its partners and collaborators.
17 October 2018STATISTICS: ROMANIA, 1H2018: flat growth in total GWP, mostly due to the decrease in the MTPL business
Romanian insurers ended 1H2018 with GWP worth RON 5.04 billion (EUR 1.08 billion), a business volume which in fact demonstrates a quasi-stagnant phase. Gross paid claims amounted to RON 2.08 billion (EUR 602.6 million). Out of the 30 active players, Top 10 insurers accounted for about 88% of the market GWP.
11 October 2018Euroins Romania buys 862 bonds of Bulgaria's Starcom Holding
17 September 2018Large insurance company with EUR 5.2 billion in premiums says it might restrain its business in Romania due to political tensions
29 August 2018FITCH Affirms EUROINS Romania at IFS 'BB-'; Outlook Stable
FITCH Ratings has affirmed EUROINS Romania Asigurare Reasigurare SA's (EUROINS Romania) Insurer Financial Strength (IFS) rating at 'BB-', and EUROHOLD Bulgaria AD's (EUROHOLD, the group's ultimate holding company) Long-Term Issuer Default Rating (IDR) at 'B'. The Outlooks are Stable.
6 August 2018EBRD buys 19% stake in Piraeus Bank Romania
4 August 2018Romania gets a Disaster Risk Management Development Policy Loan from the World Bank, with Cat DDO
Romania will be next beneficiary of an instrument from the World Bank allowing the country's government to enhance its disaster risk financing support - the Catastrophe Deferred Drawdown Option (Cat DDO). The project is now underway as part of Building Disaster and Climate Resilience Program Project for Romania.
19 July 2018Genagricola has invested in Romania targeting forests
15 July 2018STATISTICS: ROMANIA, 1Q2018: life insurance business slightly slowing down after the outstanding 2017
Romanian insurers ended Q1 with GWP worth RON 2.53 billion (EUR 543.2 million), 1.45% less y-o-y. Gross paid claims amounted to RON 1.23 billion (EUR 264 million). Out of the 30 active players, Top 10 insurers accounted for about 89% of the market GWP.
10 July 2018Romania: mutual insurers one step closer to become reality
On 28 June the Romanian Government has approved the draft Law on Mutual Insurance Companies, which will be shortly sent to the Parliament for debates and approval.
29 June 2018ROMANIA: Home insurance remains niche product
4 June 2018Cristian IONESCU is the next President of Directorate of the Romanian ASIROM VIG
Starting July 1, 2018, the President of Directorate at position of ASIROM VIG (Romania) will be taken over by Cristian IONESCU. He will replace Mr. Juraj LELKES whose mandate ends on June 30, 2018.
3 May 2018STATISTICS: Romania, FY2017: the growth trend was maintained by the life insurance segment
The Romanian insurance market in Romania continued its growth trend in 2017, the local industry totaling RON 9.7 billion (EUR 2.1 billion), 3.5% more than in the previous year.
5 April 2018Romania: FSA approves Cosmin ANGHELUTA'S appointment for a new mandate as Deputy General Manager of Gothaer
Among the decisions adopted by the Romanian Financial Supervisory Authority (FSA) Board at its meeting on 7 March 2018, the appointment of Cosmin ANGHELUTA for a new mandate as Deputy General Manager of Gothaer Asigurari Reasigurari was also validated.
12 March 2018Cristian FUGACIU, CEO, MARSH Romania took over the management of MARSH operations in Austria and Hungary
Starting January 2018, Cristian FUGACIU, CEO of MARSH Romania is heading the global broker's business in the Central Europe, comprising 7 of the 17 insurance markets that form the CSEE Region (Central & South Eastern Europe).
23 January 2018COLONNADE Insurance to start operations in Romania
COLONNADE Insurance, part of the Canadian group FAIRFAX Financial Holdings, officially begins its activity in Romania, following AIG's entry into a strategic partnership with COLONNADE Insurance to manage existing policies for AIG Europe Limited's Romanian Branch.
18 January 2018
