ROMANIA: The insurance market increased by 4.5% in 2018
The declarations were made during ECFS - The European Conference of Financial Services, organized in Brasov by ISF - The Institute for Financial Studies and supported by XPRIMM Publications as Media Partner.
Cristian ROSU also pointed out that:
- Underwritings on the household insurance segment increased by 5%, although the number of policies decreased by approximately 300,000 ;
- The insurance penetration degree in GDP is 1.07% in Romania, compared with 8.1% in Germany or 12% in France ;
- Insurance density in Romania is currently 109 euros, compared to over 350 euros in Poland or Czechia ;
- The evolution of the Romanian insurance was favorable in 2018, but it was far from the planned objective: the insurance market increased less than the GDP ;;
- It is very important to increase the financial education degree of Romanians; the Financial Supervisory Authority has a few projects dedicated to this aspect ;
- Another aspect on which ASF is focusing is the improvement of the professional training of specialists activating on the insurance market.