The Bucharest Court of Appeal has upheld the bankruptcy ruling against EUROINS Romania Asigurare-Reasigurare S.A., rejecting the insurer’s appeal against the 2023 decision of the Bucharest Tribunal.

13 February 2025
A key concern for Romanian insurers in early 2024 was the 22% rise in daily claims payments, reaching EUR 5.6 million from EUR 4.6 million in 2023, including FGA payouts and insurer reserves, revealed Alexandru Ciuncan, President of UNSAR, the professional association of the Romanian insurers.

5 February 2025
Romanian insurance companies will see a significant reduction in their financial contributions to the Romanian Motor Insurers’ Bureau (BAAR) starting this year, following a phased reimbursement process set to conclude by 2027.

5 February 2025
The Bucharest-Ilfov development region, comprising Romania’s capital and its surrounding county, remains the national leader in voluntary home insurance coverage. Nearly 3 in 10 homes in this region—representing 29% of the total—are protected by insurance policies against risks such as fires, natural disasters, explosions, storms, and theft.

29 January 2025
Groupama, the leader of Romania's insurance market and the largest employer in the country’s insurance industry, has been awarded the prestigious "Top Employer" certification for the eighth consecutive year by the Netherlands-based Top Employer Institute, the global authority in employer excellence.

29 January 2025
Romanian insurers aggregated net profit continued to grow in 1H 2024, a trend that has been observed since 2021, the main influence being the increase in MTPL insurance rates, as this business line is the most prominent in the Romanian insurance market, data provided by the market authority show.

23 January 2025
Hellas Direct, the insurance company celebrating its second anniversary in Romania, reaffirms its long-term commitment to the Romanian market. The company announces plans to invest EUR 68 million, generated directly in the local market, to strengthen its presence and expand its range of services.

23 January 2025
Reimbursement of medical expenses, hospitalization, surgical procedures, and temporary incapacity to work were the Top 5 most accessed coverages in the Romanian life insurance market in 2023, while 4 out of the 5 largest indemnities paid under this insurance line were granted as a result of the insured individuals' deaths, data provided by UNSAR show.

15 January 2025
Insurers active on the Romanian market wrote gross premiums worth EUR 3.39 billion in the first three quarters of 2024, which is by 11.45% more y-o-y. Out of this total, local insurers accounted for EUR 2.88 billion, while the remaining EUR 513 million were generated by branches of EU insurers operating on FOS/FOE.

15 January 2025
The largest compensation received by a Romanian homeowner whose residence was protected by an optional insurance policy and affected by a fire exceeded EUR 422,000, according to an analysis conducted among UNSAR (the professional union of the Romanian insurers) members.

13 January 2025
The Romanian Government has announced it decided on Wednesday, during its final meeting of the year, the cap on rates and commissions for MTPL insurance policies was extended by another three months, until March 31, 2025. The decision was met with protests from industry, as it threatens insurance brokers’ financial sustainability, as well as the level of financial protection in our society.

18 December 2024
In 1H 2024, claims paid for storm-related damages to insured homes by members of UNSAR – the professional association of the Romanian insurers, reached RON 24 million (~EUR 4.8 million), which about 94% of the total compensations paid in 2023 under voluntary home insurance policies, the association said.

17 December 2024
Sorin GRECEANU, General Manager of BAAR (the Romanian Motor Insurers' Bureau), was elected in early December 2024 as the President of the Council of Bureaux (COB) for a five-year term, starting in June 2025. The COB oversees the international MTPL insurance system, including the Green Card framework.

17 December 2024
LIFE IS HARD, a leader in digitalization solutions for businesses based in Romania, announces the winning of a new European funding project, entitled "Work is cool - Students prepared for competition and performance", worth a total of approximately EUR 1 million.

11 December 2024
On Thursday, December 5, 2024, the Romanian Association of Insurance and Reinsurance Brokers (PRBAR) elected a new Board of Directors during the organization's General Assembly. Viorel VASILE, CEO of Safety Broker, was elected as the new President of PRBAR.

9 December 2024
Ethniki, Hellenic General Insurance S.A. ("Ethniki") announced the signing on 1 November 2024 of the agreement for the acquisition by SIGNAL IDUNA, subsidiary of the homonymous German group, of the 96.74% stake that the Greek insurer owns in the Romanian GARANTA Asigurari.

5 November 2024
The Romanian Insurance Pool against Natural Disasters (PAID) has selected Moody’s to help the organization model and manage earthquake risk. Moody’s partnership with PAID will also include cooperation in sharing claims data to help with the ongoing development of Moody’s RMS Europe Earthquake HD Model.

18 October 2024
The gross written premiums by companies domiciled in Romania amounted to ~ EUR 961.3 million, 0.4% up y-o-y, and accounting for 86% of the total volume written in Romania. Meanwhile, GWP by branches operating in Romania under FOE reached EUR 154.5 million in Q1 2024.

28 August 2024
By the end of July, the national coverage rate in the Romanian mandatory housing insurance system exceeded 23%, PAID Romania (the Pool of Insurance Against Natural Disasters) reported. The result comes after a long period when the indicator’s value did not exceed 20%.

6 August 2024
"In 1994, the year UNSAR was founded, the Romanian insurance market was about USD 150 million. Thirty years later, it has reached USD 4.5 billion," remarked Alexandru Ciuncan in his opening speech at the International Conference organized by UNSAR, the Romanian insurers’ association, to mark its 30th anniversary.

11 June 2024