The total gross written premiums (GWP) in Romania’s insurance market—covering companies authorized and supervised by the Financial Supervisory Authority (ASF) and foreign branches—reached RON 23.4 billion (EUR 4.7 billion) in 2024, marking an 11% increase compared to the previous year.
This growth was driven by both general and life insurance segments. General insurance premiums increased by 10%, while life insurance recorded an even stronger rise of 16% year-over-year.
A more detailed breakdown reveals that the most influential segments in underwriting growth were the motor insurance classes (both MTPL and MoD insurance), fire and natural disaster insurance and traditional life insurance (class C1).
Insurance companies authorized and supervised by ASF accounted for RON 19.8 billion (EUR 3.97 billion), representing 84% of the total GWP. Meanwhile, insurance branches operating in Romania under the freedom of establishment principle generated RON 3.6 billion (EUR 723 million) in premiums.
The market’s concentration indices (CR3, CR5, CR7, and HHI) show a relatively stable competitive environment across different insurance segments. Despite some fluctuations, the top three, five, and seven insurers continue to hold a dominant share in the market, highlighting a consolidation trend.
As both general and life insurance sectors expand, industry stakeholders anticipate further regulatory refinements and market adaptations to sustain this positive momentum.
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
