The MTPL line provided for the largest contribution, in absolute figures (EUR 51.7 million), to the market growth (EUR 135.5 million), but life insurance recorded the highest growth rate, of 22.22% (in European currency).
Paid claims increased by 7.7%, in a quite balanced manner between the life and non-life segments. On the non-life side, while paid claims for the fire insurance line went down by 19.5%, the MTPL insurance line recorded a 12.04% increase in claims expenses.
NN ASIGURARI DE VIATA, BCR ASIGURARI DE VIATA VIG and BRD ASIGURARI DE VIATA were the Top 3 life insurers, accounting together for 65.4% of the life GWP, almost 1 percentage point more than in 1H2020. While NN ASIGURARI DE VIATA, the Romanian subsidiary of the Dutch group NN, still ranks first, with a comfortable lead over its competitors, it has still lost almost 5 percentage points of its market share, currently accounting for 34.17% of the life GWP. BCR ASIGURARI DE VIATA VIG has outrunned BRD ASIGURARI DE VIATA (16.85% market share versus 14.4%), unlike the situation in 1H2019 when they were almost equal in terms of market share.
By the end of June 2021, CITY INSURANCE, OMNIASIG VIG, EUROINS ROMANIA were the Top 3 non-life insurers, together providing for about 55% of the market GWP. However, since the end of 1H, the market leader and the "absolute champion" of the MTPL market - CITY INSURANCE -, went bankrupt, which will obviously drive a significant change in the market hierarchy, depending on how its MTPL portfolio will be split between the other insurance companies.