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.
Life insurance saw a 13.3% GWP growth, to EUR 642 million, the highest contribution to this growth, in absolute figures, coming from the annuities and supplementary insurance line.
On the non-life side, GWP reached EUR 2.75 billion, 11% up y-o-y. The foreign branches’ contribution to the total non-life GWP increased by almost 3 percentage points. As such, while the previous year foreign branches accounted for about 12% of the non-life GWP, after 3Q 2024, their share increased to almost 15%.
Motor insurance lines account together for 58.5% of the market portfolio, which is a lower percentage than the previous year (60%). Overall, GWP for motor insurance increased y-o-y by 8.6%, with a better dynamic on the Motor Hull class.
The fire insurance line saw an almost 21% increase in GWP, its share in the market portfolio growing from 9.4% in September 2023, to 10.2% this year.
Access xprimm.com and download the Romanian market statistics in RON and EUR:
- GWP/CLAIMS portfolio per insurance classes
- Market rankings: total, life, non-life, MTPL
