Romania
ROMANIA: fire insurance payouts increased threefold in the last three years; fire remains a major threat to homes
Romanian insurers, members of UNSAR, paid compensation worth RON 67 million (EUR 13.47 million) in 2024 for fire damage to homes insured through facultative policies. The figure is almost 3 times higher than in 2021, showing that fire remain among the main threats to homes in Romania.
30 April 2025ROMANIA: Record payouts for storm damage highlight growing climate risks and rising demand for home insurance
In 2024, Romanian insurers paid out a record 56 million lei in compensation for storm-related damage to homes under voluntary insurance policies, a 120% increase compared to 2023, according to a press release by UNSAR – the National Union of Insurance and Reinsurance Companies of Romania.
24 April 2025FIAR 2025 welcomes Thea Utoft Høj Jensen, Director General of Insurance Europe
Thea Utoft Høj Jensen, Director General of Insurance Europe will attend FIAR 2025 at the kind invitation of UNSAR – the Romanian professional association of insurers. She will give a keynote speech in anticipation of which she shared with XPRIMM readers the following statement:
9 April 2025ROMANIA: MTPL payouts surge by 38% amid rising accident rates in Romania
Total compensations paid by Romanian insurers for MTPL claims increased by 38% last year, reaching EUR 944 million. Moreover, payouts from the Policyholders Guarantee Fund (FGA) rose by ~ 48%, alongside insurers’ technical reserves. In total, the MTPL insurance sector’s financial obligations rose to about EUR 1.59 billion.
3 April 2025STATISTICS: ROMANIA FY2024: insurance market grows 11% in 2024, reaching RON 23.4 billion
The total gross written premiums (GWP) in Romania’s insurance market—covering companies authorized and supervised by the Financial Supervisory Authority (ASF) and foreign branches—reached RON 23.4 billion (EUR 4.7 billion) in 2024, marking an 11% increase compared to the previous year.
3 April 2025Romania: employers boost private health insurance offerings amid rising demand
Romanian employers are increasingly including private health insurance in employee benefit packages, with annual coverage ranging from EUR 300 to EUR 1,200 per employee. Demand has doubled since the pandemic, as companies seek to attract and retain talent in an increasingly competitive job market, according to The Brokers Romania.
27 March 2025Romania: The cap on MTPL prices will be extended until June 30; UNSAR calls for transparency and market-based solutions to provide for fair pricing for MTPL claims
Government sources confirm the MTPL price cap will be extended one last time until June 30, ending two years of restrictions. Meanwhile, independent repair shops oppose market reference pricing for labor and vehicle replacement costs, keeping the debate on repair pricing rules heated.
27 March 2025FIAR 2025: The future of insurance in focus; Online registration is open.
The forthcoming edition of FIAR – The International Insurance-Reinsurance Forum will once again bring together top industry professionals to discuss key trends and challenges shaping the insurance and reinsurance landscape. The Forum will take place in Sinaia, Romania, between 25 – 27 May.
27 March 2025ROMANIA: Storm damage payouts double as insurers respond to growing climate risks
Romanian insurers, members of UNSAR - the local professional association -, paid out nearly RON 50 million in storm-related home insurance claims in the first nine months of 2024 - double the total paid for all of 2023, according to the association's latest report.
19 March 2025UNSAR: Top 10 largest home insurance claims in Romania exceed RON 6 million; fire and earthquake remain the leading homeowners’ concerns
The top 10 largest home insurance payouts for fully insured properties in Romania exceeded RON 6 million in the first nine months of last year, according to an industry analysis provided by the National Union of Insurance and Reinsurance Companies of Romania (UNSAR) shows.
4 March 2025UNSAR: Romanian drivers demand transparency and fairness in MTPL claims, industry data shows
Survey results show that 8 out of 10 Romanians would choose a repair shop that has a contract with their MTPL insurer, ensuring a smoother claims process and predictable repair costs, sociological research by IRES showed.
27 February 2025ROMANIA: Soaring repair costs drive up MTPL claims: BAAR report reveals key trends
The cost of vehicle repairs covered by MTPL insurance has continued to rise steadily over the past four years, according to a recent study by the Romanian Motor Insurers’ Bureau (BAAR) based on using data from the Audatex platform, incorporating over 650,000 repair estimates from service shops across Romania.
26 February 2025UNSAR: MTPL claims surge 36% in first nine months of 2024, raising industry concerns
The value of MTPL (compulsory motor insurance) claims paid by insurers in Romania rose by 36% in 9M 2024, exceeding RON 3.4 billion (~ EUR 680 million), according to a statement from UNSAR, the professional association of the local insurers.
20 February 2025EUROINS Romania’s bankruptcy appeal rejected: final ruling confirms insolvency
The Bucharest Court of Appeal has upheld the bankruptcy ruling against EUROINS Romania Asigurare-Reasigurare S.A., rejecting the insurer’s appeal against the 2023 decision of the Bucharest Tribunal.
13 February 2025ROMANIA: UNSAR President highlights key challenges and opportunities in Romania’s insurance market
A key concern for Romanian insurers in early 2024 was the 22% rise in daily claims payments, reaching EUR 5.6 million from EUR 4.6 million in 2023, including FGA payouts and insurer reserves, revealed Alexandru Ciuncan, President of UNSAR, the professional association of the Romanian insurers.
5 February 2025Romania: Lower contributions to BAAR ease financial burden on insurers
Romanian insurance companies will see a significant reduction in their financial contributions to the Romanian Motor Insurers’ Bureau (BAAR) starting this year, following a phased reimbursement process set to conclude by 2027.
5 February 2025Groupama Romania earns "Top Employer" certification for the eighth consecutive year
Groupama, the leader of Romania's insurance market and the largest employer in the country’s insurance industry, has been awarded the prestigious "Top Employer" certification for the eighth consecutive year by the Netherlands-based Top Employer Institute, the global authority in employer excellence.
29 January 2025ROMANIA: Bucharest-Ilfov development region lead in home insurance coverage, but national figures still lag behind Europe, UNSAR data show
The Bucharest-Ilfov development region, comprising Romania’s capital and its surrounding county, remains the national leader in voluntary home insurance coverage. Nearly 3 in 10 homes in this region—representing 29% of the total—are protected by insurance policies against risks such as fires, natural disasters, explosions, storms, and theft.
29 January 2025Romania: market aggregated net profit 82% higher in 1H 2024 vs. 1H2023
Romanian insurers aggregated net profit continued to grow in 1H 2024, a trend that has been observed since 2021, the main influence being the increase in MTPL insurance rates, as this business line is the most prominent in the Romanian insurance market, data provided by the market authority show.
23 January 2025Two years after its debut, Hellas Direct reaffirms its long-term commitment to the Romanian market.
Hellas Direct, the insurance company celebrating its second anniversary in Romania, reaffirms its long-term commitment to the Romanian market. The company announces plans to invest EUR 68 million, generated directly in the local market, to strengthen its presence and expand its range of services.
23 January 2025
