STATISTICS: ROMANIA, 3Q2018: the almost 7% decrease on the MTPL line hardly offset by increasing business on othe non-life classes

Romanian insurers ended the first three quarters of 2018 with GWP worth EUR 1.6 billion, 0.7% up y-o-y, while paid claims have increased by 13.1%, to EUR 918 million. Given the national currency's depreciation against Euro, the results denominated in RON show a better dynamics.

GWP for life insurance went up overall by 2.5%, to EUR 340.7 million, resulting from the conbined effect of the 9.26% GWP increase for the "annuities and supplementary insurance" class and the 18% fall in the premiums written for Unit-Linked products.

The non-life insurance segment saw a rather stagnant evolution in 3Q, as the 6.85% decrease in the MTPL GWP was hard to offset by the GWP increases seen on other lines of business. Among the classes with the best positive evolution, Motor Hull insurance placed the best performance, with GWP increasing by 8.22%, to EUR 327.34.

In market hierarchi terms, there was a single significant change - EUROINS currently ranking 6th, down from the third position in 3Q2017. Consequently, the Top 3 composition is now the following: CITY Insurance ranks first (13.7% market share), closely followed by ALLIANZ-TIRIAC (13.26%) and OMNIASIG-VIG (11.05%).

Access and download the 3Q2018 Romanian insurance market statistics.

  • Market indicators (GWP, claims, growth rates, shares) - in EUR and RON
  • Top 10 market rankings (total market, life, non-life, MTPL) - in EUR and RON

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

FITCH Affirms EUROINS Romania at IFS 'BB-'; Outlook Stable

FITCH Ratings has affirmed EUROINS Romania Asigurare Reasigurare SA's (EUROINS Romania) Insurer Financial Strength (IFS) rating at 'BB-', and EUROHOLD Bulgaria AD's (EUROHOLD, the group's ultimate holding company) Long-Term Issuer Default Rating (IDR) at 'B'. The Outlooks are Stable.



Lloyd's of London announced new members to the Council

Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.



Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.


IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.


See all