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ROMANIA, MTPL: The direct settlement clause may become mandatory
The MTPL legislation in Romania is in the process of being amended, the insurance portal 1asig.ro wrote here.
29 October 2020STATISTICS: ROMANIA, 1H2020: The market grew 3.5%; Motor insurance increased by 2.2% despite pandemic restrictions on movement
Between January-June 2020, the insurance market of Romania totaled RON 5.6 billion (~EUR 1.2 billion) in gross written premiums (GWP), 3.5% more in local currency (+1.2% in EUR) when compared to the same period of prior year. The overall claims paid went up to RON 3.3 billion (down to EUR 691 million), 1.5% more in local currency (-0.8% in EUR).
8 October 2020ROMANIA, Private Pensions, Pillar II, H1 2020: payments of RON 71.25 million for 5,188 participants and beneficiaries
The value of the total assets under management, at the level of the entire Romanian private pensions system, has reached the amount of RON 68.57 billion, at the date of 30.06.2020, exceeding in European currency equivalent the value of EUR 14 billion, increasing by 6.31%, as compared to December, 2019.
1 October 2020ROMANIA, UNSAR-IRES study: 9 out of 10 Romanians say that climate change is real
90% of Romanians believe that climate change is a real fact, according to the latest sociological research conducted by UNSAR in partnership with IRES. The percentage is similar to the one that emerges from the analysis made in the previous year, a sign that Romanians continue to be concerned about the reality of climate change.
1 October 2020Romanian FSA authorised NN Asigurari as non-life insurer and aprooved its management
The Romanian new created non-life insurer NN Asigurari, part of Dutch NN Group received from the Financial Supervisory Authority - the authorization to operate as non-life insurer on local market.
23 September 2020ROMANIA: The insurance market exceeded RON 6 billion at the end of June
The Romanian insurance market had an evolution above expectations in the first half of 2020, exceeding the threshold of RON 6 billion, said Cristian ROSU, Vice President on Insurance - Reinsurance, FSA (Financial Supervisory Authority), wrote www.1asig.ro here.
1 September 2020ROMANIA: The MTPL policy to be valid also in digital format
After a series of debades on the way a driver can prove the alidity of MTPL policy, on August 26th, the Council of the Romanian Financial Supervision Authority approved the changes and amended the Norm no 20/2017 on MTPL insurance in Romania.
1 September 2020Carmen Daniela RADU reappointed President of the Romanian Policyholders Guarantee Fund
Carmen Daniela RADU was appointed by the Financial Supervisory Authority for a second five years term as President of the Council of Administration at The Policyholders Guarantee Fund (FGA). Her mandate will start on August 27, 2020.
27 August 2020Who were the winners of the 20th edition of the Romanian Insurance Market Awards Gala?
The 20th edition of the Romanian Insurance Market Awards Gala took place on Wednesday, 26 August, in an original format, which focused on maintaining all the safety requirements imposed by the threat of the global COVID-19 pandemic. The traditional event, organized yearly by XPRIMM, celebrates the best results of the local insurance companies, as well as the most innovative products and the best insurance professionals activating on the Romanian market.
27 August 2020ROMANIA: In Q1, gross claims paid by local insurers reached EUR 371 million, up 14.2% y-o-y
In 1Q2020, Romanian insurers reported gross paid indemnities (excluding maturities and partial and total redemptions), cumulated for life and non-life insurance, to the amount of EUR 371 million, up 14.17% y-o-y. Excluding maturities and partial and total redemptions, the amount was of EUR 327.4 million.
13 August 2020STATISTICS: ROMANIA, 1Q2020: Private health insurance expanded by 44% y-o-y
Between January-March 2020, the Romanian insurance market wrote a gross amount of premiums of RON 2.95 billion (~EUR 612 million*), up 8.8% year-on-year, and paid a total volume of claims in amount of RON 1.79 billion (~EUR 370 million*), 14.2% more y-o-y, the latest figures from the Financial Supervisory Authority (ASF) show.
6 August 2020Nicolae TROFIN appointed in the Board of SIGNAL IDUNA Romania
Nicolae TROFIN was appointed as a third member of the Board of SIGNAL IDUNA Romania, top health insurance provider. He joins Tiberiu Maier, Chairman and Mihaela Druga, Member. He will coordinate customer service activities, including customer service, sales and marketing.
23 July 2020NN Romania enters the non-life insurance market
NN Romania, the life insurance market's leader, announced plans to expand the activity by entering the non-life insurance market. Earlier this year, the Dutch insurer has made the same move on the Hungarian market.
16 July 2020ASF announced the start of the BSR of the Romanian insurance sector in the second half of 2020
The Financial Supervisory Authority of Romania (ASF) together with the European Insurance and Occupational Pensions Authority (EIOPA), announce the start of the Balance Sheet Review of the Romanian insurance sector in the second semester of 2020.
8 July 2020The percentage of Romanians who prefer to buy insurance online has doubled due to COVID-19 restrictions
The percentage of Romanians who prefer to purchase insurance policies via online instruments has doubled, as compared to last year, according to UNSAR-IRES Barometer on "Perception of risk and insurance culture in Romania", wrote ww.1asig.ro.
30 June 2020ROMANIA: The small-sized corporate non-life insurer CertAsig went bankrupt
The Bucharest Tribunal admitted, on Monday - June 29th 2020, the bankruptcy request of the Financial Supervisory Authority (ASF) in the case of small-sized corporate non-life insurer CertAsig - Societate de Asigurare si Reasigurare SA, informed www.1asig.ro.
30 June 2020Romania's Parliament has voted Nicu MARCU as ASF President
Romania's parliament has voted Nicu MARCU as President of the Financial Supervisory Authority (ASF), www.1asig.ro informed here. Previously, Nicu MARCU served as Vice-President of Romania's Court of Accounts.
29 June 2020Romanians may no longer be able to conclude insurances in European currency
Romanians will no longer be able to conclude insurance contracts in EUR, according to a bill adopted by Romanian Senate and debated these days in Chamber of Deputies, informed the Romanian insurance portal www.1asig.ro here. According to the quoted source, among the most common insurance contracts concluded in European currency are the life, MoD and HH policies.
17 June 2020ROMANIA: ALLIANZ-TIRIAC saw a 43% increase in the operational profit in 1Q2020
Romanian subsidiary of the German ALLIANZ Group, ALLIANZ-TIRIAC Insurance, recorded solid results in Q1, with increasing sales on all business lines and the consolidation of operational profitability, the company announced.
11 June 2020ROMANIA: COVID-19 pandemic changes populantion's perception of risks, reduces revenues, and changes consumer behavior
Following the reduced incomes and the changes on the employment segment, the COVID-19 pandemic also produced changes in Romanians' perception of risks and consumption behavior, according to the latest UNSAR-IRES Barometer.
4 June 2020XPRIMM Newsletter
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