Romania - the third motor insurance market in CEE

31 October 2013 — Mihai CRACEA
masini9Although Romania is only the sixth largest insurance market in Central and Eastern Europe, by GWP, data published by XPRIMM Insurance Report 1H2012 shows that it houses the third largest motor insurance market in the region, with written premiums reaching almost EUR 500 million (over 10% of the CEE market). Poland ranks first, with EUR 1.6 billion, while the Czech Republic ranks second, with EUR 715 million. Romania is followed by Slovenia, ranking fourth with EYR 272 million. The rankings are similar on the Motor Hull segment.

The two motor insurance segments (MTPL and Motor Hull) represent over 60% (RON 2.15 billion) of the entire Romanian insurance market in the first 6 months of 2013. They also generated over 90% (RON 1.91 billion) of claims paid on the non-life segment, according to data published by the Romanian Supervisory Authority, ASF.

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The MTPL market is dominated by ASTRA Asigurari, EUROINS and CARPATICA Asig, companies which have, together, a market share of over 50%. On the other hand, the Motor Hull segment is led by important international groups: ALLIANZ, VIG (through OMNIASIG and ASIROM), GROUPAMA and UNIQA - together, these companies written approximately 78% of the Motor Hull premiums.

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