STATISTICS: The ROMANIAN insurance market reached the lowest value in the past 7 years

According to the preliminary data collected by INSURANCE Profile Review, at the end of September, the Romanian insurance market totaled RON 5.9 billion (EUR 1.3 billion), down 5.8% y-o-y. The life insurance segment declined 6,3% to RON 1.2 billion (EUR 236 milion), while the non-life sector totaled RON 4.7 billion (EUR 1.07 billion), or 5,6% less y-o-y.

At the same time, according to the historical insurance market figures available on the "INSURANCE Profile Interactiv" electronic aplication (www.insuranceprofile.ro), in terms of GWP, both the life and the non-life insurance segments reached the lowest values in the past seven years. All in all, compared to the September 2008 figures ("the peak year" of the Romanian insurance market), in absolute values, the business of Romanian insurers decreased by about a half billion euro.



Overall, at the end of September 2014, the GWP market portofolio was formed of 19.8% life insurance, the remaining rest being accounted by non-life classes. As in previuos reporting periods, the MTPL insurance line dominated the market portofolio (33% of total), followed by Motor hull insurance class (22.3%).

Per insurance companies, at the end of September 2014, ALLIANZ-TIRIAC Asigurari reported the highest GWP volume (RON 724 million, 12.2% market share), followed by OMNIASIG VIG (RON 581 million, 9.8%) and GROUPAMA Asigurari (RON 505 million, 8.5%).

Access www.xprimm.com and download the 3Q2014 Romanian insurance market statistics.

Market indicators (in EUR and RON):
  • GWP
  • Claims 
  • Growth rates
  • Portfolio
Market rankings (in EUR and RON):
  • All insurance market
  • Life insurance
  • Non-life insurance
  • Motor hull
  • MTPL
  • Property

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

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