Romania
ROMANIA: Top 10 insurance brokers accounted for nearly half of the mediated GWP in 3Q2017
The Romaninan insurance brokers mediated GWP worth RON 4.62 billion (EUR 1.02 billion) during the first nine months of 2017, 1,25% more y-o-y. Non-life premiums totaled RON 4.48 billion, while the value of mediated premiums related to life segment was RON 140.78 million.
17 January 2018STATISTICS: Romania: CITY Insurance and EUROINS accounted together for about 60% of MTPL market
The Romanian insurance market continued its growth trend in 3Q 2017, according to the most recent statistics published by ASF. Local insurers reported 3Q GWP of RON 7.32 billion (EUR 1.61 billion), 6% more than in the same period of the previous year.
11 January 2018WATFORD Insurance has announced its intention to enter the Romanian insurance market
WATFORD Insurance today announced its intention to establish a branch to launch insurance operations in Romania, focusing mainly on the MTPL and ancillary insurance products sale, but other retail products such as residential property insurance may also be offered.
7 December 2017Romania, a key-market for VIG
Romania is a key-market for VIG, the Austrian group taking the commitment to be a long-term investor on the local insurance market, the VIENNA Insurance Group representatives stated on Monday, December 4th, during a press conference.
5 December 2017ATRADIUS enters Romanian and Bulgarian markets
ATRADIUS - the second largest provider of credit insurance in the world, announced it expanded its international presence with two new locations in Bulgaria and Romania, as a part of the company's global expansion strategy.
15 November 2017Romania should stay the course - funded private pensions the key to sustainable future, PensionsEurope warns
After the Romanian government has decided to cut the contributions to pillar II to 3.75% (instead of raising to 6% from the actual 5.1% as mentioned in the initial draft bill), people in Romania are now facing a significant risk of suffering a decrease in their future retirement income, PensionsEurope warns.
15 November 2017Romania: Reducing the contribution for second pension pillar will lead to a significant decrease of the pension's value for a high number of participants - AURSF
AURSF - The Association of Romanian Financial Services Users warns about the consequences of reducing the contributions for the second pension pillar, the action leading to a significant decrease of the pension's value for an extremely high number of participants.
10 November 2017Romanian ASF approved the merger between BCR Asigurari de Viata and AXA Life Insurance
The Romanian Financial Supervisory Authority's Board (ASF) announced it approved the merger operation by which BCR Asigurari de Viata VIG (the second largest life insurer in the country), will absorb AXA Life Insurance, as well as the portfolio transfer as a result of the merger.
2 November 2017ROMANIAN Transilvania Broker raises RON 9.6 milion in IPO
Romanian insurer Transilvania Broker raised 9.6 million lei (USD 2.5 million/2.1 million euro) through an oversubscribed initial public offering (IPO) of a 25% stake and might start trading on the Bucharest Stock Exchange (BVB) at the beginning of November, the bourse said on Thursday.
31 October 2017Euroins Romania cuts stake in Bulgaria's Synthetica
Bulgarian financial and insurance services provider Synthetica said on Friday that insurer Euroins Romania has decreased its stake in the company to 7.01%.
19 October 2017STATISTICS: ROMANIA, 1H2017: insurance market maintained its growth momentum
Romanian insurers reported a total GPW of RON 5.04 billion (about EUR 1.10 billion), up 8.02% y-o-y, in 1H2017, according to data published by ASF, the market maintaining its growth momentum.
5 October 2017Euroins Romania cuts stake in Bulgaria's Delta Credit
Sofia-based financial and insurance services provider Delta Credit said
on Thursday that insurance company Euroins Romania has decreased its
stake in the company to 34.60% from 46.54%.
30 August 2017STATISTICS: ROMANIA: GWP of EUR 567 million and a new market leader
Romanian insurance market totaled RON 2.56 billion (EUR 567 million) at the end of March 2017, up by 8.2% y-o-y, according to the quarterly market data published by the ASF.
17 August 2017ROMANIAN insurer NN Asigurari de Viata plans to enter Bulgarian market
Romania's financial regulator ASF said on Tuesday that it has received notification from Romanian life insurer NN Asigurari de Viata, formerly ING Asigurari de Viata, that it plans to enter the Bulgarian insurance market.
6 July 2017EUROINS Romania got regulatory approval to acquire the non-life portfolio of ATE Insurance
Romanian insurer EUROINS, part of Bulgarian-based EUROINS Insurance Group (EIG), will acquire the non-life insurance portfolio of ATE Insurance Romania, a PIRAEUS Bank unit, after Romania's ASF approved the transfer on July 4th 2017.
6 July 2017ROMANIA: Euroins buys Starcom bonds worth 700,000 euro
Bulgaria's Starcom Holding said on Thursday its subsidiary Euroins
Romania has acquired a total of 1,423 Starcom bonds at a price of 1,000
levs (511,300 euro) each. Euroins Romania acquired three Starcom bonds
on June 22 and a further 1,420 on June 27, Starcom Holding said in a
bourse filing.
5 July 2017Anna GRZELONSKA is the new CEO of NN Life Insurance Romania
Anna GRZELONSKA, currently COO of Nationale-Nederlanden in Poland, has been appointed as CEO of NN Life Insurance Romania. She succeeds Marius POPESCU, who was appointed as CEO of NN Hayat ve Emeklilik.
31 May 2017Cornel COCA-CONSTANTINESCU: The Romanian insurance market is reaching its maturity point
"After a trial period, the Romanian insurance market is reaching its maturity, in my opinion. I believe in this market. As proof of my belief, I took on my shoulders to lead the insurance-reinsurance sector in ASF - The Financial Supervisory Authority during the most difficult moment in the insurance market's history in the past years", Cornel COCA-CONSTANTINESCU, First Vice President, ASF - The Financial Supervisory Authority, during the Brokers' Conference at FIAR 2017.
24 May 2017Regaining the consumers' trust is the main objective of the European legislation's revision
The specialists who participated at the Brokers' Conference at FIAR 2017 pointed out that the revision of insurance legislation plays an important role for companies, but its main objective is regaining the consumers' trust.
24 May 2017Cees WERFF, CCN: The auto transformation will profoundly impact insurance as well
"We see a lot of technology developments coming up: robots, AI, telematics - all are coming into our [insurance] market as well. We see more and more often a customer centric approach, the customer is placed in the front of this process", Cees WERFF, President, Claims Corporation Network, pointed out during the Motor Insurance Conference at FIAR 2017.
24 May 2017
