Romania

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Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe, bordering the Black Sea;
- Neighbours: Bulgaria, Serbia, Hungary, Ukraine, Moldova.

Climate:
- temperate climate;
- cold, cloudy winters with frequent snow and fog;
- sunny summers with frequent showers and thunderstorms.

Natural hazards:
- earthquakes, most severe in south and southwest regions;
- geologic structure and climate promote landslides.

Macro indicators
* 2018 estimates
Surface:238,397km2
Population*:19.5million
Pop. density*:81.9people/km2
GDP*:202.7EUR billion
GDP/capita*:10,382.6EUR

European Union:
EU member, since 2007

Currency: Leu
Code: RON
Since: 2005


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:21%
TOTAL NON-LIFE*:79%
Overall Property*:12%
Overall Motor*:57%


Sources:


 


Statistics

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Romania FY2024 Market Rankings

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Romania FY2024 Market Portfolio


See all statistics

Latest news




ROMANIA: Insurance sector still struggles with fallout of major bankruptcies

Years after the collapse of Romania’s largest motor insurers, CITY Insurance and EUROINS Romania, the market still feels the impact. Over 500,000 claims have been filed, with payouts totaling RON 2.6 billion (~EUR 520 million), now reflected in MTPL premiums paid by millions of Romanian drivers, the FGA’s 2024 report shows.





ROMANIA: MTPL payouts surge by 38% amid rising accident rates in Romania

Total compensations paid by Romanian insurers for MTPL claims increased by 38% last year, reaching EUR 944 million. Moreover, payouts from the Policyholders Guarantee Fund (FGA) rose by ~ 48%, alongside insurers’ technical reserves. In total, the MTPL insurance sector’s financial obligations rose to about EUR 1.59 billion.


Romania: employers boost private health insurance offerings amid rising demand

Romanian employers are increasingly including private health insurance in employee benefit packages, with annual coverage ranging from EUR 300 to EUR 1,200 per employee. Demand has doubled since the pandemic, as companies seek to attract and retain talent in an increasingly competitive job market, according to The Brokers Romania.


FIAR 2025: The future of insurance in focus; Online registration is open.

The forthcoming edition of FIAR – The International Insurance-Reinsurance Forum will once again bring together top industry professionals to discuss key trends and challenges shaping the insurance and reinsurance landscape. The Forum will take place in Sinaia, Romania, between 25 – 27 May.




ROMANIA: Soaring repair costs drive up MTPL claims: BAAR report reveals key trends

The cost of vehicle repairs covered by MTPL insurance has continued to rise steadily over the past four years, according to a recent study by the Romanian Motor Insurers’ Bureau (BAAR) based on using data from the Audatex platform, incorporating over 650,000 repair estimates from service shops across Romania.