STATISTICS: ROMANIA, FY2014: Lowest value of the insurance penetration degree, in past 7 years
All in all, according to our calculations, the insurance penetration degree as share in GDP decreased to 1.24%, recording the lowest value in the past seven years. At the same time, the insurance density increased to EUR 92 per capita, this indicator being strongly influenced in statisticak terms by the taking into consideration the reduced figures for the country's population registered after the 2011 census (according to the IMF estimates).
Overall, at the end of 2014, life insurance accounted for 19.75% of the market portofolio in GWP terms, while the remaining about 80% represented by non-life classes. As in the previuos reporting periods, the MTPL insurance line dominated the market portofolio (34% of total), followed by Motor hull insurance class (21.3%).
Per insurance companies, ALLIANZ-TIRIAC Asigurari reported the highest GWP volume (EUR 221.6 million, 12% market share), followed by OMNIASIG VIG (EUR 193.6 million, 10.5%) and ASTRA Asigurari (EUR 175 million, 9.5%).
Access www.xprimm.com and download the FY2014 Romanian insurance market statistics.
Market indicators (in EUR and RON):
- Growth rates
- All insurance market
- Life insurance
- Non-life insurance
- Motor hull