ROMANIA: insurance brokers intermediated GWP worth EUR 2.52 billion

22 June 2023 — Daniela GHETU
GWP distributed by Romanian insurance brokers in the local market increased by 26% in 2022 compared to the previous year, up to almost RON 12.5 billion (EUR 2.52 billion). Thus, they distributed almost 76% of the total premium volume in the industry, the Financial Supervisory Authority's report reads.

GWP distributed for non-life insurance increased y-o-y by 26%, while the growth rate for life insurance was 17%. The intermediation degree for non-life insurance reached 87.12% (78.10% in 2021), while for life insurance it was of 15.52% (13.59% in 2021).

The report mentions the fact that these values also include the insurance premiums distributed for insurers from the European Economic Area who have notified their intention to carry out insurance activities in Romania, based on the principle of free movement of services and the right of establishment, insurance premiums distributed whose value registered an increase of about 106% compared to 2021.

SAFETY Broker continued to rank first in the brokerage market, with a market share of 8.39% and intermediated premiums of over RON 1 billion, according to calculations made by XPRIMM Publications based on data published by ASF. DESTINE Broker ranked second - 7.17% market share and intermediations of over RON 895 million, while INTER Broker completed the Top 3, with a market share of 6.42% and over RON 801 million intermediated GWP.