In a recent interview, Cristian Fugaciu, CEO Romania & CEE Central and Co-CEO CEE at Marsh McLennan, described the Central and Eastern Europe (CEE) region as one of the most dynamic insurance and risk advisory markets in Europe, driven by economic growth, rising investment flows and increasing awareness of complex risks.

According to Fugaciu, the CEE markets are maturing rapidly, with risk management evolving from a compliance-driven exercise into a strategic management tool. Companies across the region are increasingly exposed to climate-related risks, cyber threats, geopolitical uncertainty and supply-chain disruptions, while also facing tighter regulatory requirements. In this context, access to global expertise combined with strong local knowledge becomes essential for structuring adequate insurance and risk transfer solutions.

Romania: growing sophistication, persistent gaps

Focusing on Romania, Fugaciu highlighted a market that has made visible progress in recent years, particularly in terms of corporate risk awareness and demand for more sophisticated insurance programs. Large and mid-sized companies are increasingly seeking tailored solutions, structured placements and advisory support, rather than standard insurance products.

At the same time, he pointed to structural challenges that continue to define the Romanian market, including relatively low insurance penetration and significant protection gaps, especially in areas such as natural catastrophe risks, cyber insurance and specialized liability lines. While exposure to extreme weather events and operational risks is increasing, coverage levels often remain insufficient.

Fugaciu also underlined the importance of data quality, risk transparency and dialogue with insurers and reinsurers in improving capacity access for Romanian risks. As companies become better at articulating their risk profiles, they can secure more stable terms and conditions, even in a volatile global insurance environment.

Overall, the Romanian market is seen as one with strong long-term potential, supported by economic development, infrastructure investment and closer integration into European value chains. However, continued progress will depend on sustained education around risk management, regulatory stability and the ability of market participants to work together to close existing protection gaps.